Daily Crypto News

1. Crypto Has a Key Appointment on Sept. 15 — The crypto industry finally has something to help it forget about the difficult first seven months of the year. In a few weeks, the crypto industry will experience what some are calling an critical moment: The ethereum platform, the most ambitious ecosystem — even compared with its main rival, bitcoin — will undergo a major update, which in turn will have a big impact on the entire sector. This software update, called the Merge, will probably take place on Sept. 15, Vitalik Buterin, one of the co-founders of ethereum, tweeted on Aug. 12.
2. Royalty-Free Sudoswap Is Finding Favor With NFT Traders — With all the regulatory news threatening fundamental tenets of DeFi, it’s easy to forget about NFTs. Not everyone has forgotten, however, as NFT traders pushed cumulative trading volume on sudoAMM, a recently launched NFT marketplace, over $10M on Aug. 11.
3. Tornado Cash’s Sanctions Show Shift in Crypto Regulatory Focus — The sanctioning of Tornado Cash and regulated firms’ legal obligation to comply with sanctions regimes are prompting concerns of excessive government pressure from many crypto participants, particularly those in the decentralized finance community
4. Arrest Made In $7B Tornado Cash Laundering Case — On Friday, Dutch authorities arrested a 29-year-old developer allegedly involved in Tornado Cash, the Ethereum mixing service sanctioned by the U.S. government earlier this week for helping launder $7 billion in stolen funds.
5. CFTC Accuses Ohio Man of Running $12M Bitcoin Ponzi Scheme — The U.S. Commodities Futures and Trading Commission (CFTC) has taken legal action against an Ohio resident it says ran a $12 million Ponzi scheme involving bitcoin, a complaint filed at a district court in the state on Thursday shows. A Ponzi scheme is a type of investment fraud whereby original investors are paid with funds collected from new investors.
6. Privacy Protocol Monero Is Getting a Major Upgrade — Monero, the popular privacy-focused cryptocurrency protocol, is preparing for a major network upgrade this weekend (targeted for Saturday, August 13). Monero, whose native token is monero (XMR), is an open-source project that launched in 2014 as “Bitmonero.” It claims XMR is a secure, private and untraceable cryptocurrency that keeps financial transactions confidential.
7. Dutch police arrested a suspected developer of the US-sanctioned Tornado Cash crypto mixer and are looking into potentially more arrests — The Netherlands Crime Agency (FIOD) said it arrested a 29-year-old who is a suspected developer of Tornado Cash, the crypto mixer that was slapped with US sanctions earlier this week.
8. Traders expect the ether rally to fizzle out as upcoming merge to proof-of-stake system will be a ‘sell the news’ event — The Ethereum blockchain is expected to transition to a more efficient proof-of-stake system next month, dubbed the Merge. The Merge will make it less energy intensive to mine the tokens, transitioning the world’s second largest cryptocurrency away from the long-standing proof-of-work system.
9. Crypto Mining Hosting Firm Applied Blockchain Adds $15M Loan to Pay Off Debt, Fund Growth — The loan, which was granted by a North Dakota bank, is expected to have an interest rate of 1.5% for the first 13 months after including “state-based economic incentives” and 6.5% for the remainder of the term, according to a company press release on Friday.
10. Huobi looks to sell stake that values exchange at US$3 bln — Leon Li, the founder of China cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at US$3 billion, according to a Bloomberg News report that cited people familiar with the matter.

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