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The Gnosis blockchain has completed the merge and will move to a Proof of Stake protocol.
Coinbase expects 2022 revenue to decline by more than 50% from 2021.
PayPal launches cryptocurrency business in Luxembourg.
First Ethereum, now Gnosis. Gnosis announced earlier this week that Move to Proof of Stake (PoS) protocol from the previous Proof of Authority (PoA) and complete The Merge.
The migration has increased the number of validators on the Gnosis blockchain from 200 before maintaining the PoA protocol to over 100,000. This transition is expected to increase the decentralization and security of the Gnosis blockchain.
Coinbase CEO Brian Armstrong revealed earlier this week that the cryptocurrency exchange is forecasting earnings for 2022. More than 50% decrease from last year’s creation.
According to the CEO, a bear market is affecting the company’s operations, with most coins down 70% from all-time highs. Recent events, including the collapse of FTX, have also impacted market confidence. However, Armstrong said he will continue to defend the cryptocurrency industry in Washington, D.C.
coinbase too asked the user Switch USDT stablecoin to more reputable USDC. USDC is issued by Circle, co-founded by Coinbase. According to the cryptocurrency exchange, the USDC has ordered him to return $44 million worth of cryptocurrencies to trusted customers, whose users have banned the use of the stablecoin ahead of his USDT issued by Tether. Must start.
Earlier this week, USDC issuer Circle said: Cancel plans to go publicThe company was expected to go public at a valuation of $9 billion, but recent market events have canceled that plan.
Cryptocurrency lending company Celsius ordered to return Offering $44 million worth of cryptocurrency to customers. U.S. Bankruptcy Judge Martin Glenn said he hopes creditors will recover as soon as possible.
Celsius owes creditors billions of dollars and the $44 million approved applies to pure custody assets. These are assets that were not used in your Celsius Earn account but existed in the Custody Program.
Payments platform PayPal announced earlier this week that it Expansion of cryptocurrency business occupy Luxembourg. The company said its crypto services will soon be available in European countries, allowing citizens to buy, sell and hold various crypto assets.
PayPal added that it is now working with Luxembourg’s regulators and policymakers to create a good policy for investors, PayPal and the country.
Ethereum core developers have set March 2023 as the date for the network’s Shanghai hard fork. Hard forks are important to the Ethereum community as they allow users to withdraw staked Ether tokens on the network.
