Plenty is going on in the world of Crypto this week. Read on to get the scoop!
Over $1million in illicit cryptocurrency assets seized
One of the biggest crypto news stories that have broken this week is that surveillance of blockchain transactions by the US secret service has led to 102 million dollars worth of assets being seized between 2015 and 2022.
Secret service director of investigations David Smith spoke to CNBC about their continued efforts to track and thwart illegal crypto transactions and the success they have found with new initiatives.
NFT Vault opens in Harvey Nichols Store, Hong Kong
You can now visit an in real life (IRL) location to purchase your non-fungible tokens NFTs if you live in Hong Kong. With NFTs becoming more mainstream, Harvey Nichols customers are now able to purchase from an exclusive and carefully curated range of artists including Bored Ape Yacht Club, Doodles and CryptoPunks.
Ethereum “the merge” delayed
Another important story in the Cryptosphere is that the much-anticipated Ethereum update known as ‘ the merge’ has been put back indefinitely. This information comes directly from Ethereum developer Tim Beiko who tweeted that crypto users can no longer expect the merge to occur in June of this year.
However, he didn’t specify when it would happen, only stating that they would need a ‘few more months to make the switch from the proof of work to the proof of stake process that is set to enhance the sustainability and efficiency of Ethereum.
Coinbase NFT marketplace open for first users
Also within the NFT field, the well-known crypto exchange Coinbase Global Inc has made its NFT marketplace available to a select few US users. Indeed, at this current time, only a portion of the initial names on their waiting list have been granted access, with a slow rollout to follow over the next five weeks as any bugs in the platform are ironed out.
Mortgage startup Milo lets you use cryptocurrencies as collateral
Last of all, one of the biggest news items of this week is home buyers in the US are now able to use collateral for their mortgages in the form of cryptocurrency. This is all thanks to a company started by Josip Rupena named Milo.
Unlike traditional mortgage lenders, Milo accepts Bitcoin, as well as ether, and stable coins in exchange for a 30-year mortgage. If Milo takes off, this is a situation that could begin to revolutionize both the way crypto can be used and its relationship with real estate.