The biggest news in the cryptosphere for Sept. 8 includes Coinbase financing the lawsuit against the U.S. Treasury Department over Tornado Cash, Terra Classic’s community-led revival and an attack on the New Free DAO protocol.
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Bitcoin holds steady as ECB implements 75 bps rate hike
Despite European Central Bank’s (ECB) announcement regarding the 75 basis point hike, Bitcoin continued trading flat.
After the Eurozone inflation hit 9.1%, economists have been expecting a 50 basis point hike but several Wall Street Banks predicted the ECB to hit hard with a 75 basis point increase.
Community-led Terra Classic (LUNC) now worth 12x more than Do Kwon-led Terra LUNA
The community’s plans for Terra Classic’s (LUNC) revival have started showing an effect as it becomes the 26th biggest project by market cap.
LUNC’s current market cap is at $3.3 billion, which means it’s nearly 12 times higher than Do Kwon-led Terra (Luna), which is at $258 million.
LUNC hit its lowest at $0.00004885 on June 8, and it is currently traded for $0.00052851 at the time of writing, indicating a 1,900% increase in price.
Coinbase finances Tornado Cash users’ lawsuit against U.S. Treasury Department
Crypto exchange Coinbase is financing the lawsuit against the U.S. Treasury Department over the Tornado Cash sanctions.
Six Tornado Cash users argued that the sanctions were a “violation of rights that the U.S. Constitution guarantees.”
Coinabase’s CEO Brian Armstrong criticized the ban and said it restricted regular users’ right to access the protocol and added that the “Treasury used a hammer instead of a scalpel.”
Ethereum staking will attract more institutional investors post-merge – Chainalysis
A Chainaysis report indicates that Ethereum staking could provide up to 15% annual yield after the merge. This is a massive return on investment compared to U.S. treasury bonds which offer around 3.5%.
The numbers indicate that wallets…
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