Hello everyone, and welcome to the latest Stack weekly. We'll be covering everything you need to know about all the latest news and events that took place within the crypto space throughout the previous week.
Weekly Projects to Watch
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Top risers by Coinrank™
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- The Graph ($GRT) ⬆️ 3%
- Bancor Network Token ($BNT) ⬆️ 3%
- KuCoin Token ($KCS) ⬆️ 3%
- Klaytn ($KLAY) ⬆️ 2%
Top risers by Dev Rank
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- Kadena ($KDA) ⬆️ 9%
- Aave ($AAVE) ⬆️ 9%
- Klaytn ($KLAY) ⬆️ 8%
- Algorand ($ALGO) ⬆️ 6%
Top risers by Social Rank
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- Anchor Protocol ($ANC) ⬆️ 0.7%
- Audius ($AUDIO) ⬆️ 0.6%
- Flow ($FLOW) ⬆️ 0.5%
- Stacks ($STX) ⬆️ 0.4%
Top News This Week
Mastercard Adds Crypto Consulting Services and Uber to Eventually Accept Crypto
The payments giant Mastercard is expanding its payments-focused consulting service to include cryptocurrencies. In other words, it now covers a range of digital currency capabilities, including early-stage education, risk assessments, bank-wide crypto and NFT strategy development to crypto cards, and the design of crypto loyalty programs.
Additionally, Uber’s CEO Dara Khosrowshahi said that Uber would accept cryptocurrencies at some point in the future. He cited the cost of exchanges, which can carry high transaction fees, as well as the environmental impact of digital mining on the energy grid as reasons as to why Uber has not yet incorporated this technology.
Ransomware Attacks Funds Go to Russian-Affiliated Wallets, Crypto Firms Work Together to Meet U.S. Money-Laundering Rules, and the FBI Calls Crypto the Only Game in Town
Russian hackers have allegedly gained more than $400 million through crypto-ransomware attacks conducted throughout 2021. This included approximately 74% of the ransomware revenue last year, which was funneled within high-risk wallet addresses likely to have been based in Russia.
Additionally, Coinbase Global Inc., Gemini Trust Co., and Robinhood Markets Inc. are all companies that are working together towards helping to build a platform to comply with a U.S. money-laundering rule, as crypto, as well as financial-technology companies, aim to satisfy existing requirements and head off stricter oversight.
Furthermore, the FBI calls crypto the only game in town, which has been used as the primary currency and vehicle to facilitate exertion payments, according to Bryan Vorndran, assistant director of the FBI’s Cyber Division.
Twitter Added Ethereum Wallet Support to the Tipping Feature
The social media giant, Twitter, has added the ability for users to send Bitcoin (BTC) tips in September. However, Ethereum addresses are something new. Users can now add their Ethereum wallets to the product.
However, it is currently only available on mobile. This is a move that follows Twitter's continued exploration of the Ethereum ecosystem, where the company debuted non-fungible token (NFT) verification for paid "Twitter Blue" subscribers throughout last month. However, Ethereum wallet support is available to any user that agrees to the company/s tipping policy.
Colorado to Accept Crypto, Argentina’s 50% Inflation and Ukraine Legalizes Cryptocurrencies
According to Gov. Jared Polis, Colorado has announced plans to accept cryptocurrencies for tax payments by the end of summer.
Additionally, Polis added that Colorado is seeking companies that will handle the crypto transactions. Furthermore, Argentina's 50% inflation has contributed to the increase in the popularity of crypto credit cards.
The cryptocurrency exchange Lemon Cash aims to increase the issuance of Bitcoin rewards cards throughout 2022. Ukraine also legalized cryptocurrencies amid tensions with Russia, where Bitcoin donations soared to Ukrainian volunteer and hacking groups. Donors are paying through Bitcoin and are bypassing banks and financial institutions, which might block the funds.
Warren Buffett’s Berkshire Has Invested $1 Billion in the Cryptocurrency-Friendly Bank Nubank
Berkshire Hathaway has bought a total of $1 billion worth of stock in Nubank, one of Brazil's largest fintech banks that puts a specific focus on cryptocurrencies.
However, it is important to note that this is not the first investment made within Nubank from Berkshire, as Warren Buffett’s firm reportedly acquired 30 million Nubank shares for $250 million back in December 2021.
In June 2021, the company also purchased a $500 million stake in the company prior to this. These investments are of specific interest due to the fact that, at one point in time, Warren Buffett called cryptocurrencies 'rat poison.'
Thanks for reading,
The Stack Team
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