Crypto In Play News 2022 August Third Week

cryptocurrency news
Cryptocurrency Explained for Beginners

Crypto In Play News 2022 August Third Week

cryptocurrency news

The latest cryptocurrency news curated on a weekly basis.

Covered topics include regulation, user adoption, macroeconomy, and technology announcements.

Table of Contents

crypto investments

From September 2021 to mid-June 2022, 40 companies invested almost $6B into blockchain startups

Blockchain transactions and Privacy Apps Blocked as Concerns Over Government Blockchain Censorship Continues

crypto centralized data center

How decentralized are Cryptocurrencies? Not So Centralized in Terms of Data Centers

  • 70% of the 65% of Ethereum’s nodes are hosted in data centers, making 3 major cloud providers responsible
  • 95% of cryptocurrency Solana’s nodes are hosted in data centers as well, 72% of which are hosted on the same cloud providers as for Ethereum
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Hodlnaut Reports close to $200 Million Financial Shortfall as It Seeks Court Protection

  • Hodlnaut, the company has an outstanding liability of SGD 391 million (around $281 million), compared with assets of SGD 122 million ($88 million), resulting in a shortfall of around $193 million.
  • Firm had filed for creditor protection in Singapore on August 16 after losses of $187 mil when UST, Terra’s stablecoin depegged
  • Hodlnaut has about 17,000 creditors and exploring options to allow customers to do limited withdrawals of 25% of deposits
  • Hodlnaut is among other troubled firms like cryptocurrency exchange Zipmex (shortfall of $58mil) and crypto lender Vauld ($400 mil owned to creditors) which have also sought creditor protection in Singapore
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