Digital Assets Report 84
![Digital Assets Report 84](/content/images/size/w2000/2022/08/pine-watt-dUbKcgu0zjw-unsplash.jpg)
- Ethereum Foundation Announces Official Date for the Merge which should occur at 11:34:47 AM UTC on September 6, 2022.
- Fed Chair Jay Powell said, “Restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy”. After this 8 min speech, stocks sinked (-3%), Bitcoin & Ethereum also (-10 %).
- Cloud provider Hetzner reveals the price of centralizing Ethereum nodes. Hetzner is powering 10% of Ethereum nodes and is banning crypto mining and also staking, the approach of Ethereum 2.0. Markets reacted as a threat to decentralization.
- Singapore considers tightening cryptocurrency trading by retail investors after the collapse of 3 Arrows Capital, Vauld and Hodlnaut.
- SEC seeks info from Grayscale about three crypto trusts.
- Tether Audit, Promised for 5 Years, Still Months Away, CTO Says.
Business
The Ethereum Merge Has an Official Kick-Off Date
The Bellatrix upgrade, which begins the final countdown, is set to activate on Sept. 6. The Merge itself will be completed at some point Sept. 10-20.
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Ethereum Nodes Largely Run on Cloud Services—This Host Says They’re Banned - Decrypt
Popular cloud service provider Hetzner hosts over 10% of all Ethereum nodes—but this is technically not allowed, the company says.
![](https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2022/08/crypto-ethereum-banned-gID_6.jpeg)
Co-CEO of Crypto Trading Firm Alameda Research Sam Trabucco Steps Down
Trabucco will stay on as an adviser, while Caroline Ellison will become the company’s sole CEO.
![](https://www.coindesk.com/resizer/ctWZZMk8iUkt3WDGOnBYg2jtaXw=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ZVUBJ7DZJBGWFAF72USS5SIQFY.jpg)
Chipmaker Nvidia’s Crypto Mining Chip Revenue Continues to Fall
Sales of Nvidia’s cryptocurrency mining processor were deemed “nominal” for the second straight quarter.
Looks bare: OpenSea turns into NFT ghost-town after volume plunges 99% in 90 days
An ongoing debt crisis at lending platform BendDAO is also increasing the risks of the NFT bubble going bust.
![](https://images.cointelegraph.com/images/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMWEwOTg0MDQtMTFkNi00NDE0LWI2MzctZTZjMTE1NTQ0MjU2LmpwZw==.jpg)
Markets
Crypto Chart 78
Bitcoin Last time we said: “Given the wave count I think it is just a matter of time with a new low expected below 20k. A break below 17600 call for a much lower in BTC”. This morning we saw a low of 19526 just shy of the 76.34%
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- Monthly adjusted on-chain volume for stablecoins increases after two months of falling.
![](https://www.theassets.io/content/images/2022/08/image-7.png)
More Than Half Of All Bitcoin Trades Are Fake
A new Forbes analysis of 157 crypto exchanges finds that 51% of the daily bitcoin trading volume being reported is likely bogus.
![](https://imageio.forbes.com/specials-images/imageserve/62d9eca3f57f29346939dc48/0x0.jpg?format=jpg&crop=1920,1080,x0,y0,safe&width=1200)
Regulations
Tether Pushes Back Timeline on Audit: Report - Blockworks
Tether has promised a full review of its books for more than five years, ever since questions of its reserves began to circulate
![](https://blockworks.co/wp-content/uploads/2022/07/Tether.jpg)
SEC seeks info from Grayscale about three crypto trusts: CoinDesk
Grayscale Investments said in recent regulatory filings that it is responding to questions from the SEC about three of its cryptocurrency trusts.
![](https://www.tbstat.com/wp/uploads/2019/11/grayscale-logo-2.jpg)
Singapore considers tightening cryptocurrency trading by retail investors
The chief of Singapore’s central bank said the city-state is considering tightening cryptocurrency trading by retail investors.
![](https://image.cnbcfm.com/api/v1/image/107110385-1661748720238-gettyimages-1236288036-SINGAPORE_MAS.jpeg?v=1661748607&w=1920&h=1080)
Reading / podcasts
The Merge Won’t Drive Big Scalability Gains For Ethereum, But EIP-4844 Might - The Defiant
Proto-Danksharding Could Boost Throughput Of Layer 2 Rollups By 100x
![](https://the-defiant-web.s3.amazonaws.com/img/2022/08/25152220/EIP4484.jpg)
Cryptocurrency Regulations Around the World
To understand Cryptocurrency Regulations around the world and their legislative positions, read our comprehensive guide.
![](https://complyadvantage.com/wp-content/uploads/2020/02/crypto_social_new.png)