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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

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

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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