Headlines
▌Blockworks: Ethereum Merger Around September 15th or 16th
On August 12th, Blockworks issued a document saying that the Ethereum Merge has been scheduled for September 15th/16th.
Policies
▌Brazil Central Bank Governor: Hope to Make the Central Bank's Digital Currency Operational by 2024
Brazil Central Bank President Neto: Our central bank digital currency is nothing more than a tokenised deposit. It is hoped that the central bank's digital currency will be operational by 2024.
Cryptocurrency
▌Bitcoin Miner Core Scientific Announces 10% Layoffs, Q2 Net Loss of $862 million
Bitcoin mining company Core Scientific (CORZ) announced its second-quarter financial report, with a net loss of $862 million. CORZ announced on Thursday that it would lay off 10% of its workforce, Chief Financial Officer Denise Sterling said on an earnings conference call. The layoffs will not affect data center operators, and two-thirds of the company's 2022 growth will occur in the second half of the year. Earlier news, Core Scientific sold 1,975 BTC at an average price of $22,000 in July, for a total of about $44 million.
▌Research Shows 63% of Traders Are Bearish on Cryptocurrencies
According to Charles Schwab’s latest Trader Sentiment Survey, 90% of traders see a high probability of a U.S. recession, with 74% of them believing it will begin later this year. According to the survey, 18% of traders are now most concerned about the possibility of a recession, up 6% from the previous quarter. This makes about 63% of responding traders particularly negative towards cryptocurrencies and meme stocks. The survey also revealed that few traders intend to buy cryptocurrencies, but they only include non-first-time investors and experienced buyers.
▌DCG Founder: Central Banks Can Safely Invest in Bitcoin with BlackRock’s Bitcoin Private Trust
Digital Currency Group Founder Barry Silbert suggests that with BlackRock’s Bitcoin Trust, central banks around the world now have an easy and safe way to invest in Bitcoin. Following the Bitcoin Private Trust launch on Thursday, Barry tweeted interesting facts about BlackRock's business relationship with central banks and hinted that central banks may soon start investing in Bitcoin. BlackRock is the world's largest asset fund manager, with approximately $9 trillion in assets for institutional clients, including central banks.
▌MakerDAO Considers Buying $3.5 Billion in ETH, Vitalik Buterin Calls It Risky and Terribl
According to a tweet, MakerDAO is considering buying $3.5 billion in ETH, converting all USDC from the peg stable module to ETH. Vitalik Buterin said it seems like a risky and terrible idea. If ETH drops a lot, the value of the collateral would go way down but CDPs would not get liquidated, so the whole system would risk becoming a fractional reserve, he explains.