Your Summary Of The Week In Crypto World
Another week has ended in the crypto industry, and so many headlines caught the attention of some investors and the crypto industry, some being dramatic, while some being absurd. However, I will be discussing some of them that got the attention of everyone or that were at the top of the headlines.
But first here are some trending topics on the @leofinance community you would want to check out
Now for the top news that took the headlines this week in the crypto industry are:
Terra Hard Fork Voting
Do Kwon propose the hard fork method on Terra as the way to save or revive it after the crash. Despite the revival method, will it be able to revive the trust of its investors or the ecosystem? The new chain will continue to bear the LUNA original name, while the one that experienced the crash will be known as the LUNA classic.
Portugal Makes U-Turn As a Tax-Free Crypto Country
Portugal was among the top countries that were tax-free on crypto and this has brought much success in the country as investors and blockchain countries troop in the country to establish their business. However, it seems the days of it being a tax-free country are over as they have announced that they will start taxing crypto making a U-turn on their decision. The rate of the tax on crypto is not decided yet but the fixed tax rate on businesses and companies is 28%. The question is, will this alter their success?
Ethereum Merge Likely To Take Place August
The Ethereum merging has been the most anticipated project in the Ethereum community as they plan to switch to the proof of stake consensus method. It’s not certain because it’s under probability and according to Preston Van Loon who is a core Ethereum developer said “if everything goes according to plan” that’s when the merge will happen.
a16z Launches Huge Funds for Metaverse Gaming
Earlier this week, a16z announced that they have launched $600 million that will be dedicated to web3 gaming because they believe that gaming is what makes social life fun and nothing else
Russia Edging Closer to Crypto Legalization
Russia has been against legalizing crypto in the country, well you could say the Central Bank of Russia though. Since crypto played a major impact on the conflict between Russia and Ukraine, it was expected that both countries will, however, adopt it sooner or later and the first country to do that was Ukraine. After wondering if Russia will adopt it, they have made a decision to put it into consideration so it’s now a matter of when not if anymore.
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This is not like my result of a week in the crypto world, this is only their, not mine, result, but my result, this is the receipt of 200 LEO from Khal, as a mark for the comments written during this time, two weeks)
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If I should understand you correctly, you got 200 LEO from Khal in the comment section?
Yes, this is for two weeks at 100 per week.
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Woah!! That's madddd!!! Nice one bro!!! I was active on comments sections before but then again some write ups can be difficult to understand 😂😂 except the ones I can relate with and don't earn though