Coming each Saturday, Hodler’s Digest will assist you to monitor each single necessary information story that occurred this week. The greatest (and worst) quotes, adoption and regulation highlights, main cash, predictions and way more — every week on Cointelegraph in a single hyperlink.
Top Stories This Week
Crypto fundraising hits $30.3B in H1, outpacing all of 2021: Report
A report from crypto analytics agency Messari on Tuesday confirmed that the crypto sector has raised $30.3 billion in funding this yr, already outpacing the full for all of 2021, which was $30.2 billion. The determine was achieved through 1,199 funding rounds within the first half of the yr, with $10.3 billion, greater than a 3rd of the capital, going in the direction of the centralized finance sector. Notably, the NFT gaming sector raised greater than all of decentralized finance at $4 billion. DeFi, comparatively, raised simply $1.8 billion.
Michael Saylor will step down as MicroStrategy CEO however stay as government chair
Bitcoin maxi Michael Saylor is about to step down as CEO of MicroStrategy on Aug. 8. With president Phong Le taking up as CEO, Saylor will assume his new position as government chairman — a place that can focus virtually fully on constructing MicroStrategy’s Bitcoin reserves. “I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software business,” he stated.
Facebook’s metaverse will ‘misfire,’ says Vitalik Buterin
Ethereum co-founder Vitalik Buterin thinks that any metaverse platform coming from Mark Zuckerberg’s Meta goes to “misfire.” Although Buterin singled out Meta, his feedback had been targeted extra broadly on the sector as an entire, with him stating that “we don’t really know the definition of ‘the metaverse’ yet, it’s far too early to know what people actually want.“
Voyager to return $270M in customer funds, says it received ‘better’ offers than FTX
Bankrupt crypto lending firm Voyager Digital has been cleared by a judge in New York to return $270 million worth of customer funds, as it works to make all its customers (in theory) whole again. The firm also stated that it received several “higher and better” buyout affords than the one submitted by Sam Bankman-Fried’s Alameda Research again in July.
Meta allows Instagram NFT integration in over 100 international locations
Instagram has rolled out NFT help throughout 100 international locations in Africa, the Asia-Pacific, the Middle East and the Americas. As a part of the transfer, customers can combine wallets from Coinbase or Dapper Labs and submit their NFTs primarily based on Ethereum, Polygon or Flow. The transfer despatched the worth of the Flow blockchain’s native token, FLOW, surging on Thursday, because it pumped 54% to hit an intraday excessive of $2.83.
Winners and Losers
At the top of the week, Bitcoin (BTC) is at $23,276.79, Ether (ETH) at $1,708.47 and XRP at $0.37. The complete market cap is at $1.09 trillion, in accordance to CoinMarketCap.
Among the largest 100 cryptocurrencies, the highest three altcoin gainers of the week are Flow (FLOW) at 44.86%, Filecoin (FIL) at 37.69% and Optimism (OP) at 25.60%.
The high three altcoin losers of the week are Qtum (QTUM) at 16.41%, Bitcoin Gold (BTG) at 14.30% and Bitcoin Cash (BCH) at 9.63%.
For extra information on crypto costs, ensure to learn Cointelegraph’s market evaluation.
Most Memorable Quotations
“Most people think a metaverse is a virtual place, similar to the movie Ready Player One. They’re wrong. The metaverse is not a place; it’s a moment in time.”
Evan Luthra, a Forbes 30 Under 30 entrepreneur
“You saw decentralized markets, decentralized lending models, DeFi in general, not fall over. There was no contagion there. What you saw was poor balance sheet management from closed shop trade fee lenders.”
Jonathon Miller, managing director at Kraken Australia
“We don’t really know the definition of ‘the metaverse’ yet, it’s far too early to know what people actually want. So anything Facebook creates now will misfire.”
Vitalik Buterin, co-founder of Ethereum
“You want to encourage people to have some faith in the future and make decisions that make the delay of gratification morally laudable and intelligent. Inflation hurts those people.”
Jordan Peterson, medical psychologist
“Regardless of how those funds are stored — locked up in a smart contract or with a centralized custodian — that storage point becomes a target.”
Chainalysis, blockchain analytics agency
“Of the billions of people and numerous institutional investors on the planet, a large number will lack the technical wherewithal, workflows or interest in holding their own private keys.”
Will Peck, head of digital belongings at WisdomTree
Prediction of the Week
Metaverse market share to surpass $50 billion by 2026, says new report
Technology analysis and advisory agency Technavio revealed a report on Metaverse market finance that estimates the sector to have a market share worth of $50.37 billion by 2026. The agency estimated that the market will develop by 21% yearly over the following 4 years, and the prediction doesn’t look like too far off the mark to date, as 2022’s development is projected to hit 20.11%.
FUD of the Week
$2B in crypto stolen from cross-chain bridges this yr: Chainalysis
According to a report from blockchain analytics agency Chainalysis, cross-chain bridge hacking has resulted in $2 billion in losses throughout 13 totally different assaults in 2022 to date. Chainalysis urged that bridges are sometimes targets as a result of they “feature a central storage point of funds that back the ‘bridged’ assets on the receiving blockchain,” which have develop into some extent of goal for hackers.
Solana wallets ‘compromised and abandoned’ as customers warned of rip-off options
Solana customers have been urged to desert their scorching wallets and transfer their funds to chilly storage this week after a big exploit siphoned an estimated $8 million from roughly 8,000 compromised wallets. The hack was reportedly carried out through a safety breach in Web3 pockets supplier Slope’s community and likewise affected Phantom pockets customers.
Blockchain safety agency warns of recent MetaMasks phishing marketing campaign
Blockchain safety agency Halborn despatched out a warning on Thursday concerning a brand new phishing marketing campaign concentrating on MetaMasks pockets customers. The lively phishing marketing campaign makes use of authentic-looking emails with MetaMasks branding that urge customers to adjust to Know Your Customer (KYC) rules and confirm their wallets, basically tricking them into giving out their passphrases.
Best Cointelegraph Features
Cleaning up crypto: How a lot enforcement is an excessive amount of?
Many blockchain corporations now imagine that regulation is inevitable, however there’s a rising debate over the place to attract the road between defending customers and strangling the lifeblood out of the trade — or forcing it outdoors the United States.
NFT communities greenlight Web3 movies: A decentralized future for followers and Hollywood
The movie trade is likely one of the most centralized and conventional of all of them. Just a handful of film studios and streaming conglomerates management the lion’s share of the worldwide movie market.
What Kazakhstan’s new tax regime means for the crypto mining trade
New amendments lately signed by the nation’s president might bolster the vitality grid refit whereas holding total costs comparatively average.