Here are the five biggest crypto developments of the week
Another exciting week in the crypto space comes to a close.
Another exciting week in crypto space is drawing to a close. Here's a concise look at the main events around Bitcoin, Ethereum and Co.
Nexo: crypto lending service stops in the U.S. market
Conversations with U.S. authorities, according to the company, ended without result, "reaching an impasse."
According to the statement, Nexo would need to shut down its services and products in the U.S. "in a gradual and orderly manner over the coming months." After the FTX collapse, rumors of financial trouble at Nexo also grew.
Read all about it here: Nexo exits American operations
MetaMask: Wallet speaks out on allegations
The popular Web3 wallet has now spoken out about the privacy scandal that recently broke. It emerged that MetaMask collects data from its total of 31 million users when they use the network via the Infura service.
ConsenSys, the company behind the crypto wallet, has updated its policy on their website: "We are committed to protecting the privacy of users of our products so that our users do not - and ultimately cannot be - betrayed by yet another centralized entity."
Polygon: Ethereum sidechain partners with Warner Music Group
Polygon (MATIC) can shine with another high-profile partnership. Along with Warner Music Group, Polygon aims to build a new Web3 music platform. Meanwhile, Polygon is turning into a true crypto darling among big companies. Companies like Meta, Starbucks, and Disney are among the partners.
Read more details about Polygon's new collaboration here: Polygon and Warner Music launch virtual music platform
New study proves sustainability behind Bitcoin mining
The ESG analyst Daniel Batten’s analysis shows the use of clean energy in Bitcoin mining.
From the latest ESG analysis by analyst Daniel Batten, 29 mining companies, representing 16.48% of total hash share, run 90-100% on clean energy. Batten calculated the figures using "a combination of type of computer, megawatt, BTC mined, and hash rate." Direct contact with mining companies was also part of his research.
Read more about the sustainability of Bitcoin.
Binance: Proof of Reserves audit completed
After the FTX collapse, more and more crypto exchanges revealed their assets and corresponding wallet addresses. Among them was the crypto exchange Binance.
After the world’s largest crypto exchange disclosed a snapshot of its crypto reserves, external auditors say the audit is now complete. The result: users’ assets are adequately secured.
Read more about how Binance’s bitcoin positions are covered.
