The Scenius Sync (Issue #13)
Merge Week, Coinbase v. Treasury, & Fireblocks Hits Centaur Status
Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.
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Highlight innovative applications and mainstream adoption of crypto and blockchain technology.
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Essential News 🗞
Historical Ethereum Merge Scheduled for Thursday September 15, 2022
Ethereum Mainnet will merge with the Beacon Chain proof-of-stake (PoS) system, which will mark the end of proof-of-work (PoW) for Ethereum and the full transition to PoS. If achieved successfully, this sets the stage for future scaling upgrades and will reduce Ethereum’s energy consumption by ~99.95%.
Coinbase Is Helping Sue The US Treasury Over Tornado Cash Sanctions
Coinbase Global, Inc. the biggest US cryptocurrency exchange, has helped organize and is paying the costs of a lawsuit against the Treasury Department over its sanctions of coin mixer Tornado Cash.Coinbase will pay legal costs for six people challenging OFAC. The complaint argues that Treasury overstepped its authority.
The Conservative Party of Canada Elects Pro-Bitcoin Leader Pierre Poilievre as Party Head
Pierre Poilievre won the leadership race by a landslide and plans to make Canada the “blockchain capital of the world.” Poilievre is now poised to battle current Prime Minister Justin Trudeau for Canada’s top job in the 2025 federal election.
Crypto Investor FTX Ventures to Take 30% Stake in SkyBridge Capital
The firm, founded by former Trump aide Anthony Scaramucci, will invest some of the funds in crypto assets for its balance sheet.
SEC Plans New ‘Office of Crypto Assets’ to Find Soft Targets
The SEC has further hinted at increased crypto scrutiny by establishing a blockchain-specific office to scan for compliance mishaps.
Innovation & Adoption 💡📈
Fireblocks proclaims 'centaur' status with $100 million in annual recurring revenue
Fireblocks, an $8bn company that builds tools for the secure storage and transfer of cryptocurrencies, announced Monday that it has reached so-called "Centaur" status with $100 million in annual recurring revenue (ARR). The company said it has over 1,500 institutional clients from traditional finance and crypto, including banks and payment service providers, that has helped the company weather the crypto market downturn.
Tether (USDT) Launches on Near Network
NEAR is a smart contract-capable blockchain designed to provide the ideal environment for dapps via its unique scaling solution. The network just hit a milestone of 700 projects now building on it and, as of July, NEAR Foundation reports the network has been used for 300-400,000 transactions per day. It is the 13th blockchain to host USDT.
Crypto Services Firm Abra 'in Process' of Forming US Bank
Crypto services company Abra said Monday it is in the process of launching Abra Bank, a U.S. state-chartered institution and, potentially, the crypto industry's first regulated bank. If successful, Abra Bank would allow customers in the U.S. to deposit and bank digital assets while also offering valuable access to fiat on-and off-ramps. Abra also plans to launch Abra International, a fully regulated digital asset business that will deliver similar banking services for its customers outside the US. Abra Bank is expected to launch in 2023, while Abra International is expected to launch in late 2022.
Binance KYC Soulbound Tokens go live as users receive airdrop
Binance Account Bound token (BAB) has gone live and users can now use the token as proof of KYC verification through Binance. As with all SBTs, the BAB token is non-transferable but can be revoked should a user wish to do so.
Starbucks details its blockchain-based loyalty platform and NFT community, Starbucks Odyssey
Starbucks Odyssey combines the company’s successful Starbucks Rewards loyalty program with an NFT platform, allowing its customers to both earn and purchase digital assets that unlock exclusive experiences and rewards.