Crypto Weekly Roundup: Bitcoin Miami Conference, Binance To Reimburse Users, Terra & Avalanche Join Forces, And More

This week’s leading story in crypto is the Bitcoin 2022 conference, which has attracted prominent crypto industry experts and enthusiasts who are flocking to Miami, further establishing the city as a leading hub for cryptocurrency in the US. Additionally, Binance has conducted successful funding round to raise capital to reimburse the users who fell prey to the Ronin Validator Hack. Let’s find out more. 

Bitcoin

The Bitcoin 2022 conference in Miami welcomes thousands of cryptocurrency enthusiasts worldwide as the city seeks to cement itself as one of the top cryptocurrency hubs in the US. 

DeFi

Binance joined hands with investors to close a $150 million funding round to reimburse the users affected in the Ronin Validator Hack.

A routine security audit turned into a potential nightmare for Convex Finance as OpenZeppelin’s security team discovered a vulnerability during a security review of the Convex Finance protocol. 

Altcoins

Terra Luna and Avalanche join forces for a $100 million treasury swap between LFG (Luna Foundation Guard) and the Avalanche Foundation.

American investment firm Tiger Global leads the $350 million fundraising round for blockchain developer NEAR Protocol.

Technology

Intel launched a new ASIC designed for mining proof-of-work blockchains that use SHA-256 encryption, such as Bitcoin and Ethereum.

Business

The HBAR Foundation launched a $250 million Metaverse Fund to attract luxury brands to interact with the Hedera metaverse ecosystem through multiple avenues. 

The blockchain security firm, CertiK raised $88 million in its latest round of funding, pushing its valuation to $2 billion. 

CEO Howard Schultz announced that Starbucks would soon be entering the Metaverse by making its NFT debut in 2022. 

Adidas is launching the first personality-based AI-generated avatar creation platform in collaboration with the cross-game avatar platform, Ready Player Me. 

Following a MailChimp data breach, a phishing attack targeted Trezor wallet users via their registered email addresses. 

Regulation

Treasury secretary Janet Yellen recently signaled that a US CBDC might be further off than thought. 

Two US House members have proposed a new bill in order to ‘mitigate the risks’ of El Salvador’s adoption of Bitcoin as legal currency. 

HM Treasury has announced that London will welcome cryptocurrency, with City Minister John Glen stating in a speech stating that the UK is open to crypto businesses. 

ESPN partnered up with NFL legend Tom Brady to launch an NFT collection on Polygon based on Brady’s docuseries.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.