The news requirements of the cryptosphere



A graduate of the Montpellier Business School and Paris 1-Sorbonne, with experience in the worlds of banking and insurance, Laurent Pignot continues such a passion for cryptocurrencies that he aspires, one day, to launch a medium dedicated to the promotion of these alternative properties. What attracted this fan of sport and gastronomy? As a good representative of his generation, the decentralized and disintermediated dimension of these currencies. What is driving it? Adrenaline is involved in the investment game.

The cryptosphere is full of fresh news every day. In order to keep you updated on the key information surrounding this sector, I have summarized for you the requirements of the most important news of the present days.

  • Celsius Networkone of the leading lending platforms (lending) of decentralized finance cryptocurrencies, continuing its descent into hell. After users saw their assets locked on the platform for a month after freezing withdrawals and exchanges, a new case troublesome filed by Celsius said $ 1.2 billion was lost in funding. The document shows the company has $ 5.5 billion in debts and $ 4.3 billion in assets. Placed now under the protection of Chapter 11 of the U.S. bankruptcy code, the company may take several months before the funds are released or its users are paid…

  • After seeing many companies (Coinbase, Gemini, Bitpanda,…) announced that they will reduce their workforce, it is the turn of the main NFT market place to follow. The co-founder and CEO ofOpeneaDevin Finzer, announced that the company reduce its workers by 20% and said that “The reality is that we’ve entered an unprecedented combination of crypto winter and general macroeconomic instability, and we need to prepare the business for the possibility of a prolonged downturn.” It must be said that the 74% decrease in the number of NFT transactions between May and June will not help the OpenSea business …
  • revolutionthe British neo-bank, accelerates Web3 by offering a apprenticeship program “learning and seeing” is paid for by the crypto ecosystem Polkadot (DOWRY). 18 million customers can, as of July 11, learn while earning the equivalent of $ 15 in DOT cryptocurrency. “Our Crypto Basics and Polkadot lessons make cryptocurrencies easier for everyone to understand. Take a quiz after each lesson, and you can get up to $ 15 free DOT tokens as a reward… ” The opportunity, too, is for the neo-bank to attract new customers who are excited for digital money.
  • The Unity, in other words the change in the consensus mechanism of Ethereum miners, is expected for September 19. From this date, minors no longer rely solely on proof of work (PoW) to validate user transactions, but on proof of stake (PoS) which is intended to be much less energy consuming. The developers ofEthereum identifies and affirms that the testnets (private blockchain experiment) working with stake proof proceeded as expected. The end testnet, named Goerli, must take place on August 11 before the final migration to mainnet (public official blockchain) on September 19. Keep in mind that these dates are provided for information only, we are not immune to seeing The Merge postponed as has happened in the past for many Ethereum updates.
  • The Ethereum scaling tool, Polygon (MATIC)continues to expand its Web3 infrastructure through a new media conglomerate project Walt Disney Co. (DIS). Polygon is one of six companies selected to participate in Disney’s “Accelerator 2022” program, a business and development program (including augmented reality, artificial intelligence, metaverse and NFTs) designed to drive the growth of bags. companies around the world, according to a published the press release by Disney. Polygon is the only native blockchain platform selected. MATIC cryptocurrency jumped 60% in the 5 days since the announcement.
  • Vladimir Putin has signed a law banning digital assets as a means of payment. Russia’s State Duma has noted that the president has signed a law suspending parts of an existing federal law “on banking,” making it illegal to use cryptocurrencies to pay for goods and services. service. The Russian parliament is currently considering two other laws related to digital assets. One of them is likely to regulate the activities of minors in the country, requiring them to follow a specific procedure to register as sole proprietors or self-employed. Another dimension suggests requirements for companies that handle digital asset transactions, including licensing and disclosure of privacy and data risk.
  • Cocorico 3.0! BNP Paribas announced their partnership with EDF ENRa subsidiary of EDF, to issue obligations related to funding renewable energy projects in the form of tokens (crypto) distributed on the blockchain Ethereum. The bond is structured on AssetFoundry, a platform that enables tokenization (conceptualizing tokens, hence cryptocurrencies) assets; the custody will be given to BNP Paribas Securities Services, the multi-asset specialist for banks; and finally, the tokens are manufactured by Exaion, a subsidiary of EDF that provides Web3 infrastructure and solutions. The management of BNP Paribas stated that: “Innovation and sustainability are central to our private debt investment philosophy. Tokenization and blockchain offer new opportunities for portfolio diversification for our clients, so we are committed to working with strong- companions of these new developments. » It is also an opportunity to raise funds separately for the two French entities …
  • We stayed in France together the French startup Morpho Labs, which is stepping up 18 million dollars in a round of funding led by Andreessen Horowitz (a16z) and Variant, with participation from 80 other investors. The Morpho protocol developed by Polytechnique and Telecom Paris student Paul Frambot and CNRS research director Vincent Danos is intended to connect to existing decentralized finance (DeFi) lending protocols such as Compound and Aave with provide a higher return through dynamic peer-to-peer allocation of liquidity. The protocol, perhaps, will restore the image of decentralized finance, which has been abused in recent times.
  • We end this Crypto Recap by staying under the tricolor flag with Zinedine Zidane who signed a multi-year partnership with fantasy football game Sorare. The Twitter announcement came on July 12, the date of the French team’s 1998 World Cup victory. So players will be able to grab Zizou’s legendary NFT card in the game. a few weeks ago with French round ball star Kylian Mbappé, who became the company’s ambassador, and now represents 1.8 million players worldwide with more than 250 club affiliates. soccer.

The evolution of the Top 20 cryptocurrencies in terms of capitalization in a week.
(Click heat map below to better visualize the differences)

Source: Quantify 2022

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