Tuesday, September 5, 2023
| Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! | | Abandoning the Helm
Mayur Kamat, who held the position of Global Head of Product at Binance, has resigned from his role, adding to a growing list of high-ranking executives who have left the cryptocurrency exchange.
This trend of top-level departures from Binance includes figures like Patrick Hillmann, the former Chief Strategy Officer until July 2023, Steven Christie, who served as the Senior Vice President for Compliance, and Hon Ng, the former General Counsel, all of whom departed the company in July.
In today's news, we have Casio dropping free NFTs, LSE planning to offer blockchain–powered market for traditional assets and betting platform Stake seeing suspicious crypto outflows.
Read on! | | Electricity Usage: Solo Bitcoin Mining vs Household Appliances | |
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Bitcoin mining at home uses 4.6 kWh, which is around the same as the electricity usage of a clothes dryer.
This suggests that Bitcoin's environmental impact is comparable to everyday electronic devices. | | | 24h Hot Searches Worldwide 🔥 | | | Linea, a zk-rollup layer 2, has just recently launched on mainnet. Find out all about the project and how it differs from other layer 2s in this video. | | | Stepping into the Virtual Realm
Japanese electronics giant Casio is venturing into the metaverse by extending its sporty G-Shock watch brand with the introduction of "Virtual G-Shock," a blockchain-based "community co-creation" initiative in collaboration with Polygon Labs.
This move aligns with a trend where various brands, such as Lacoste, have adopted web3 loyalty programs involving co-creation, and Tommy Hilfiger partnered with DressX for an AI design competition during Metaverse Fashion Week in March. Polygon has also been attracting prominent brands like Adidas, Nike, and Starbucks to develop on its network.
Decrypt
| | Embracing the Blockchain
The London Stock Exchange Group (LSEG.L), one of the oldest stock exchanges in the world, has drawn up plans to offer blockchain-based trading of traditional financial assets, the Financial Times reported Monday.
Murray Ross, Head of Capital Markets at LSE Group, emphasized that this project is not connected to cryptocurrencies and solely employs blockchain technology to enhance the efficiency of buying, selling, and holding traditional assets.
CoinDesk
| | Suspicious Outflows
On-chain analysts have detected a significant movement of funds out of the cryptocurrency-based sports betting platform Stake in multiple transactions, indicating a potential security incident.
These outflows have totaled over $41 million across Ethereum, Polygon, and BNB Chain.
The Block
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