Hebdo Crypto #192 – Bitcoin and cryptocurrency news of the week

The week of 02/05 in brief – News about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily information flow and that you miss important points. This format is there to remedy that. We return to the news of the past week in theCrypto Weekly to keep you informed about the current situation of cryptocurrencies.

Crypto news in brief

Polkadot deploys XCM and becomes fully interoperable. Thus, this protocol allows parachains to send data and tokens to each other, atomically.

Solana once again offline. The blockchain became overwhelmed with transactions, so it couldn’t sustain the load. It took 7 hours for the network to restart.

Binance Obtains PSAN Approval. The cryptocurrency exchange giant has just obtained the sacrosanct PSAN, allowing it to operate legally in France.

Ronin strengthens its security. This security reinforcement follows the attack that targeted its bridge. This had caused the loss of 600 million dollars in cryptocurrencies.

The Bored Ape broke Ethereum. On April 30, Yuga Labs, the company behind the Bored Ape launched the sale of Otherdeeds, plots of land for their upcoming metaverse. However, the demand was such that Ethereum faced significant congestion.

Telegram adopts TON crypto. Thus, users can now send TONs to each other directly from the application. An astonishing sleight of hand following the regulatory setbacks encountered by Telegram.

▶ This week, Sami receives Pierre Morizot from Waltio to discuss the state of cryptocurrency taxation in France.

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The 5 metrics of the week

10%it is the share of all ETH in circulation that are staked on the beacon chain. In total, this represents 12 million ETH that have been blocked to participate in the validation of blocks on the proof of stake version of Ethereum.

$80 millionit is the amount stolen from the Fuse protocol developed by Rari Capital. In practice, the attacker took advantage of a so-called reentrancy flaw, allowing him to siphon the pools of the protocol.

Tweet from Blocksec – Source: Twitter

$1.6 billionit is the alarming record of DeFi hacks since the start of 2022. By way of comparison, $1.4 billion was stolen over the whole of 2021.

Infographic from Certik: 2022 could be a record year for amounts stolen during DeFi hacks

$500 millionit’senvelope deposited by Binance during the takeover of Twitter by Elon Musk. Indeed, of the 44 billion dollars used for the acquisition, 7.14 came from investment funds.

$265,000it is the amount spent by Yuga Labs to reimburse users harmed by the launch of Otherdeeds. Thus, users whose transactions failed due to network conditions had their gas fees refunded.

Tweet of the week

Tweet of the week goes to @CryptoGaryy and his reminder of the implications of Binance obtaining PSAN status. Indeed, for the smart ones who had been careful not to declare their Binance account when filing their tax return, the surprise could be great now that Binance is a service provider regulated by PSAN.

Have a nice week on the Journal du Coin! 🙂

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Hebdo Crypto #192 – Bitcoin and cryptocurrency news of the week

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