A roundup of the week’s crypto news, with multiple companies planning forks of the Ethereum PoW network, the wildly bullish y00ts mint on Solana, and Coinbase funding a lawsuit against the U.S Treasury.
Firms line up to fork The Merge
In the week’s biggest stories, the crypto firm ETC Group is amongst a number of entities planning to fork the proof-of-work version of Ethereum, having publicly outlined their plan to launch an ETP product on the forked chain after The Merge.
Coinbase has weighed into the Tornado Cash controversy, helping back a lawsuit that accuses the U.S Treasury of violating constitutional rights to free speech. The main thrust of the backlash so far has been that writing code itself should not be illegal, even if some individuals chose to use it for criminal ends.
And an Etheruem dev has released a report on how he located a serious bug which could have taken down the entire Avalanche blockchain. The bug has now been patched, but a hypothetical attacker would have needed only 2000 AVAX to cause “insta-death for the entire network.”
Web3 investors double down
In Web3 news, backers of crypto gaming developers Animoca Brands have doubled down on their investment, pumping an additional $110million into the Web3 company. The funds will be used to help Animoca make further strategic acquisitions.
The much-anticipated y00ts NFT mint has now officially sold out, and despite some distribution problems, managed to be wildly bullish in the midst of a bear market, with the cheapest NFTs up for sale at 144 SOL on Magic Eden.
And ever heard of Mysten Labs? The Web3 infrastructure platform is now worth 2 billion, following a Series B funding round backed by Binance Labs, Coinbase Ventures, and a16z, amongst others.The Mysten Labs team are currently building the “Sui” blockchain.
And finally, is our favourite ETH 2.0 meme null & void?
And finally, after 2 years of relevancy, the time may have come to lay one of our favourite ever crypto memes to rest:
Assuming that Ethereum PoS successfully ships, that is. If not, may the meme return with a vengeance.
Click here for our 5 reasons to be bullish on Ethereum in 2022!
