Ethereum's Sepolia and Ropsten Testnets will be followed by the final test before the ETH merge. The merge, which will take place on the Gorlia/Prater testnet, is expected in early August. It is very important that no unsuccessful results have been obtained in any testnet yet. A positive result from this testnet will also create a very safe atmosphere before ETH merge.
Contraction Repeats in the U.S., Fears of Recession Begin
According to the data released yesterday in the US, the quarterly GDP (Gross Domestic Product) saw a negative value for the 2nd time in a row. This means a quarterly contraction for the 2nd time in a row, that is, a recession according to the old definition. But there has been a slight change in the definition of recession, especially after the COVID era. According to the definition announced by NBER (National Bureau of Economic Research), it is defined as "a significant decline in economic activity that has spread throughout the economy and lasted more than a few months". But it is claimed by most economists and news channels that it has already entered a recession.
Work Continues for Cryptocurrency Regulation in the UK
The United Kingdom continues to work on creating a structure where different proposals for cryptocurrency regulation come to the forefront. To that end, the region's Law Commission has issued an advisory focused on determining crypto ownership to protect user rights. The document emphasized that digital assets play an important role in modern society, while guidelines should be established to protect and recognize crypto assets in the digitalizing world.
NFT Project from Famous USA City
Francis Suarez, Mayor of Miami, one of the most popular cities in the world, located in the US state of Florida; Time has announced that it will be partnering with Mastercard and Salesforce to release an NFT collection. The NFT collection, which is planned to be released after the ETH merger in September, will be launched as a collection of 5000 NFTs created by 56 native artists.
Controversial Statement from the Chairman of the SEC
SEC Chairman Gary Gensler; He stated that he believes that crypto exchanges should be registered and regulated like stock exchanges. Gensler criticized crypto exchanges for reasons such as custody services and market regulation, saying it created a natural conflict of interest. The SEC's and Gensler's attitudes and regulatory approaches to cryptocurrencies are constantly criticized by the crypto industry.
Bitcoin Letter from Democratic Senators to Fidelity Investment in the US
As it is known, Fidelity Invertmens in the US brought a Bitcoin-oriented investment option to pension funds called 401(k). After this much-discussed decision, we have seen the statements of support of crypto-friendly senators in many places. However, Democratic Party Senators Dick Durbin, Elizabeth Warren and Tina Smith, who are known to be against crypto assets, sent a letter to Fidelity CEO Abigail Johnson asking why they are using volatile and never-tested Bitcoin as a retirement investment in these days when it is already very difficult to invest for retirement.
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