Crypto Trends Weekly – October 8 – 14

    17 Oct 2022
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    Breaking crypto news from the last week (Oct. 8 – 14, 2022):

    Oct. 8: Leon Li Lin, the founder of crypto exchange Huobi Global, is selling his controlling stake to a Hong Kong investment firm, About Capital, according to Huobi’s website. The company said the deal has no impact on Huobi’s core business.

    Oct. 10: Polygon said that its zero knowledge-EVM public testnet for Hermez, which Polygon acquired last year for $250 million, went live. The company continues targeting the mainnet going live sometime in early 2023, calling it “the next step for Ethereum.” DeFi protocols Aave and Uniswap will also be launching on its testnet.

    Oct. 11: Google stated it will use Coinbase to accept crypto payments for cloud services early next year, CNBC reported. Google Cloud will let customers pay for its services using ten cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Tether.

    Oct. 12: Two giants of traditional finance, JPMorgan and Visa, are linking up their global private blockchains – Liink and B2B Connect – to simplify payments between nations, Forbes reported. JPMorgan’s Liink is a network specifically designed for cross-border transfers and is offered under the bank’s blockchain and payments initiative, Onyx. Visa’s B2B Connect is a similar network to Liink that was built for institutional grade use and has now been integrated with Onyx’s Confirm.

    Oct. 13: According to a new report released by The Block Research, crypto venture funding has fallen for its second consecutive quarter for the first time since 2018. The number of VC deals also took a sharp turn, declining by 22% quarter-on-quarter. However, infrastructure startups continue to show strong growth at the seed stages.

    Japanese gaming giant Konami Digital Entertainment is looking to expand into the Web3 and metaverse space via massive new hires, according to a press release published on its official website. Famous worldwide for its video games, the company plans to launch a service where players can trade their in-game NFTs “through a unique distribution platform using blockchain.”

    Oct. 14: Decentralized exchange aggregator 1inch Network has partnered with the major European sports promotion firm Oktagon MMA. The partnership signifies another step into the MMA terrain in a move to bridge DeFi and exciting competitive sports.

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