Many pro athletes are diving headfirst into crypto and NFTs, and the Portuguese professional footballer is joining them. Cristiano Ronaldo has entered a multi-year joint marketing agreement with crypto company Binance. As a part of the deal announced today, multiple Ronaldo NFT collections will be produced in each year of the deal and released exclusively on the Binance NFT marketplace.

“Together we’ll give you the opportunity to own an iconic piece of sports history,” Ronaldo wrote in an announcement post Thursday.more information

A Solana whale nearly drained a liquidity pool, and it would have caused some major ripples—let’s dive in. Had the price of SOL continued to drop, and the $21 million in SOL collateralizing the loan gone into liquidation, Solend would have been left with almost no SOL. The project's co-founder suggested that the rush to buy up that much SOL for cheap could have crashed the $2.6 billion Solana network.

Early on Tuesday, the protocol announced that the whale borrower had moved $25 million worth of USDC debt to Mango Markets, another Solana-based lending protocol, thereby alleviating Solend of some of the burden and reducing the protocol’s risk.more info

Immutable Ventures will offer investment and grants—in IMX tokens and cash—for developers building on its Ethereum scaling solution. Immutable, the firm behind the Immutable X layer-2 scaling solution for Ethereum, announced the launch of a $500 million fund to boost developer adoption of the platform. The Immutable Ventures fund will invest in and provide grants to projects that build on Immutable X using a mix of IMX tokens and cash in partnership with an array of VC funds and ecosystem allies.

Immutable revealed the $500 million endeavor today, which includes assets from firms including Animoca Brands, BITKRAFT Ventures, GameStop, Arrington Capital, King River Capital, AirTree, and Double Peak.more

The crypto market started the weekend with new lows as Ethereum and Bitcoin fell below key support levels. An early Saturday morning slide saw Ethereum slip below the key support level of $1,000, and Bitcoin fall as low as $18,905, representing significant new lows in already bearish crypto market, according to CoinMarketCap.

Ethereum dropped precipitously from $1,076 to $986 in less than two hours. Bitcoin is down nearly 10% for the day, and continues to hover below the $20,000 mark at press time. The last time Bitcoin was in the $19,000 range was December 2020. Back then, hitting $19,450 was called a "surge" tied to proposed U.S. regulation of stablecoins.more

Some crypto companies are feeling the crunch of a market crash and reducing their employee headcount to cope—but others are still expanding and securing fresh talent. Here's who's hiring and firing in crypto right now.Cryptocurrencies and the stock market have been hammered by deteriorating economic conditions so far this year, between a recession potentially looming, sky-high inflation and a Federal Reserve that’s poised to further cool down the economy by raising interest rates.

The worsening outlook towards the economy has led companies to cut back on hiring or shrink operations in an attempt to better manage costs and protect profits. In early June, Tesla CEO Elon Musk said he has a “super bad feeling” about the economy in an email to company executives and stated 10% of salaried employees at the company would need to lose their jobs, according to reporting from Reuters.more

আমি অনেক লক্ষ করেছি আমাদের এই ফোরামে সকল দেশের একটি করে নিজস্ব সেকশন রয়েছে। সেখানে তারা অহরহ পোস্ট করছে কিন্তু আমরা আমাদের এই বাংলা ফোরামে বর্তমানে কোন সিনিয়র ইউজারদের দেখতে পাচ্ছি না। আমি সবাইকে অনুরোধ করবো আমাদের বাংলা সেকশন টা আরো অনেক এগিয়ে নিয়ে যেতে হবে এজন্য ছোট বড় সকল ইউজারদের প্রয়োজন রয়েছে। আমাদের এই ফোরামে অনেক সিনিয়র ইউজার রয়েছে যারা বিভিন্ন সেকশনে মডারেটরের দায়িত্ব পালন করছে আমি তাদের অনুরোধ করবো আমাদের এই বাংলা সেকশনে যেন ফিরে আসেন। তাহলে সম্ভব উন্নত শিখরে পৌঁছাতে অল্প কিছুদিনের মধ্যেই।

FDIC Chair Jelena McWilliams says her goal on an interagency team is to create a way for banks to be able to custody crypto assets. Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams, one of the country's top financial regulators, believes it's time to allow banks to hold cryptocurrency, such as Bitcoin, for themselves and their clients.

"I think that we need to allow banks in this space, while appropriately managing and mitigating risk," she said in an interview with Reuters at the Money20/20 conference in Las Vegas.
McWilliams' comments come as an interagency team comprised of staff at the FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency (OCC) look to wrap up their work on coordinating cryptocurrency policies for U.S. banks.

"My goal in this interagency group is to basically provide a path for banks to be able to act as a custodian of these assets, use crypto assets, digital assets as some form of collateral," McWilliams said at the event. She indicated that the group will look at rules for holding crypto on their balance sheets, something public companies such as Tesla and Microstrategy are already doing.more

The supply of Ethereum should decrease after the network transitions from proof of work to proof of stake. There are currently over 118 million ETH in circulation. And even though there's no supply cap on the cryptocurrency, don't expect that number to get too much bigger.

According to simulations from Ethereum tracker Ultrasound Money, after the transition to proof of stake, the supply of ETH is set to decline 2% annually. If current rates hold, the blockchain will start burning more Ethereum than it produces with each new block.
At the beginning of August, Ethereum developers hit the "go" button on one of the biggest upgrades ever to the blockchain. The London hard fork included EIP-1559, an Ethereum improvement proposal that both upped the block size to help combat congestion on the network and destroyed transaction fees rather than send them to miners.

The goal was to place deflationary pressure on an asset that already has a circulating supply six times larger than Bitcoin's. That's largely been achieved. According to stats from Watch the Burn, there's been a 57% reduction in ETH issuance to date; over 1.1 million ETH have been distributed as block rewards to miners while nearly 630,000 have been burned.more