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European crypto ETN and ETP report: Thursday, June 9

Most crypto investment vehicles in Europe traded marginally down on Thursday, while others bucked the trend.  21Shares Cardano ETP was the worst performer on our list for June 9, trading at $12.89 — representing a daily loss of 1.55%. Other notable drops were 21Shares Ripple XRP ETP, down 0.83%, and BTCetc ETC Group’s Physical Bitcoin ETN, which lost 0.62% on Thursday.  Elsewhere, 21Shares Tezos ETP was the best performer, gaining 4.99% to close at $12.20. VanEck’s Solana ETN also closed …

Yuga Labs wants ApeCoin on its own blockchain. ApeCoin owners think otherwise

The Bored Ape community has voted to keep building within the Ethereum ecosystem, rather than move the ApeCoin token its own blockchain as creator Yuga Labs had suggested. According to a snapshot vote that ended today, the ApeCoin governance mechanism — known as the ApeCoin DAO — voted 53.6% in favor of staying within the Ethereum ecosystem. The vote was close, with 3.8 million APE voting for the proposal and 3.3 million APE voting against it. “Migrating to a different …

Attacker snipes 20 million OP tokens intended for Wintermute loan

Ethereum scaling startup Optimism said Wednesday that an attacker interfered in a token recovery process involving Wintermute, resulting in the loss of some 20 million OP governance tokens.  As previously reported, the OP token went live at the end of May as part of a plan by Optimism — a Layer 2 network — to decentralize how the protocol is governed. An airdrop was held on May 31, and some of the total OP tokens were set aside to provide …

Ethereum’s Ropsten proof-of-stake ‘test merge’ goes live

In preparation for the Ethereum merge happening later this year, developers have activated the merge on the Ropsten test network. The merge took place on Wednesday afternoon after the move was first announced on June 3. Ropsten’s proof-of-work chain was merged with its proof-of-stake beacon chain by combining their codes into one. Today’s merge is critical to check if client software using Ethereum nodes performs without any glitches. Client software teams participated in the merge including Lighthouse, Lodestar, Prysm, Teku, …

Ethereum’s Ropsten test merge expected to initiate in next 48 hours

Ropsten, Ethereum’s oldest testnet, is about to undergo its transition to proof of stake — as one of the final tests ahead of the merge on the main Ethereum blockchain. While the exact timing for the Ropsten merge will fluctuate depending on a few variables, it’s expected to happen on Wednesday, according to an official blog post from Ethereum.   The main objective of the testnet merge is to practice Ethereum’s mainnet merge later this year. The Ethereum core developers have …

Haun Ventures leads $32 million round in Ethereum protocol Euler

Katie Haun’s Haun Ventures has led a $32 million fundraising round for Euler, a non-custodial protocol that allows users to lend and borrow digital assets.  Euler, which is built on top of the Ethereum blockchain, says it’s able to mitigate the risk of lending and borrowing assets through a framework that assigns each investment a tier depending on its risk.  “Euler takes a unique approach to address the risks associated with lending and borrowing crypto assets that stood out to …

Crypto scams have raked in more than $1 billion since beginning of 2021, FTC says

About 46,000 people have reported losing more than $1 billion to crypto scammers since the beginning of 2021, the US Federal Trade Commission (FTC) said in a report released on Friday. The median individual loss was $2,600 and the most common cryptocurrency used to pay scammers was bitcoin at 70%, followed by tether and ether. The reported losses were almost 60 times what they were in 2018, which may be attributable to some features of crypto, including the fact that …

Ethereum mining revenues fell by roughly 27% in May

Ethereum miners generated 27.2% less in revenues in May compared to the previous month, according to data compiled by The Block Research. Last month, Ethereum miners generated a total of $969.4 million in revenue. Most of these revenues came from the block subsidy ($888.95 million) and a relatively small amount from transaction fees ($80.46 million) and from uncle rewards ($41.2 million). The share of Ethereum transaction fees over total revenue fell in May to about 5.6%. Ethereum miners also made …

Layer by Layer Issue 33: Ethereum, Cosmos and Polkadot

June 2, 2022, 12:51PM EDT • 18 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding As the Ethereum merge approaches, concerns about technical and centralization risks have begun to arise In the Cosmos and Polkadot ecosystems, developers are continuing to build protocols that leverage interchain connectivity in order to tap into a broader user …

Optimism’s governance token OP officially goes live

The governance token for the rollup-based Layer 2 network Optimism has gone live.  The token is set to shift Optimism’s structure by fueling The Optimism Collective, a bicameral governance system for funding composed of Token House and Citizens’ House. The token will trade under the ticker OP and be distributed via airdrop to early users.  Individuals who used Optimism before March 25 can claim an airdrop of OP. A total of 231,000 addresses can claim 214 million OP tokens (5% …