Friend.tech earns $1M+ in 24 hrs💰, $1M ETH transferred to Coinbase 💸, Somalia bans Telegram & TikTok 🚫
Daily Crypto, Blockchain & Web3 Update 2023-08-21
CRYPTOCURRENCY
Renewable energy Bitcoin mining company powers up in Sweden (5 min read)
Sweden has opened a hydropowered data center for mining Bitcoin.
Genesis Digital Assets Limited (GDA) opened a new data center in Sweden. The company has over 400 MW of power generation worldwide and is motivated by the country's surplus of renewable energy.
Ordinals still make up majority of Bitcoin txs despite price collapse (3 min read)
Despite Bitcoin's recent price decline and the belief that the hype surrounding Bitcoin NFTs has faded, ordinal inscriptions have remained dominant on the Bitcoin network in the past week.
Bitcoin Ordinals appear to be alive and kicking, with nearly 85% of Bitcoin network activity dominated by inscriptions and BRC-20 minting on Aug. 21.
Gryphon Digital seeks court dismissal of Sphere 3D's lawsuit (2 min read)
Crypto miner Gryphon Digital wants to be released from a lawsuit filed by their previous partner, Sphere 3D. The lawsuit is about a spoofing attack that led to 26 Bitcoins being sent to a fake address.
BUSINESS
Friend.tech generates over $1M fees in 24h, surpassing Uniswap, Bitcoin networks (3 min read)
Friend.tech, a recently released decentralized social (DeSo) network, generated over $1 million in fees in 24 hours on Aug. 19, outperforming established players in the crypto ecosystem, including Uniswap and the Bitcoin network.
QUICK LINKS
Ethereum co-founder Vitalik Buterin moves $1M of ETH to Coinbase (3 min read)
$1 million of Ether belonging to Ethereum co-founder Vitalik Buterin has been flagged for transfer by blockchain sleuths. This comes as cryptocurrency markets continue to be depressed following widespread losses over the weekend.
Kenya forms parliamentary committee to investigate Worldcoin (2 min read)
The Worldcoin cryptocurrency project has run into another roadblock, this time in Kenya, where the government has formed a 15-member parliamentary committee to investigate the controversial asset.
The controversial crypto project’s launch has been marred by controversy, and it’s already facing investigations in nearly half a dozen countries.
Somalia bans Telegram and TikTok over misinformation (3 min read)
Somalia has shut down crypto-friendly messaging app Telegram and gambling site 1XBet, while cryptocurrency investments aren’t banned.
The Federal Republic of Somalia is the latest country to ban the cryptocurrency-friendly messaging app Telegram, alongside the TikTok social media app and the online betting site 1XBet.
China proposes to bring its social credit system to the metaverse: Report (3 min read)
China is reportedly looking to implement a system akin to its social credit system in the metaverse and other online virtual worlds.
Proposals to a United Nations group reportedly show China wants digital IDs and real-world punishments for actions that occur in the Metaverse.
Bitget mandates KYC requirements in line with tightening global regulations (2 min read)
Seychelles-based cryptocurrency derivatives exchange Bitget is updating its Know Your Customer (KYC) requirements for users to stay in step with global regulatory guidelines.
‘I give it six to eight weeks’, Critics warn friend.tech hype won’t last (5 min read)
Friend.tech, a new decentralized social media (DeSo) app, has rapidly become one of the hottest new things in crypto, with over 64,000 new users and more than 24,000 ETH in trading volume since its beta version launch on Aug. 11.
Google responds to accusations of ads tracking data of children (3 min read)
Google, the parent company of YouTube, responded to a report that suggested YouTube advertisers are sourcing data from children viewing videos on the platform.
After an in-depth report surfaced about YouTube advertisers potentially harvesting data from children, Google responded by saying it has “strict policies” around children’s content.