The biggest news in the cryptoverse for Oct. 25 includes the amount of staked Ethereum surpassing 14 million year-to-date, Tesla’s $106 million loss to Bitcoin volatility, and Apple’s guidelines on how iOS developers can add in-app NFT purchase functions to their apps.
Total staked Ethereum surpasses 14 million in Q3 amid 64% decline in price
The amount of staked Ethereum (ETH) increased to 14 million since the beginning of the year. The amount equates to over $19 billion. This significant amount of Ethereum was staked even though the ETH price declined by 64% year-to-date.
Tesla reportedly lost $106M to Bitcoin volatility in Q3
In February 2021, Tesla purchased over 43,200 Bitcoin (BTC)for around $1.5 billion. At the end of June 2022, Tesla announced that it exchanged about 75% of its Bitcoin reserves for $936 million.
The math indicates that the leading electric car company lost around $106 million because of its Bitcoin investment.
Apple to allow in-app purchase of NFTs, subject to 30% tax rate
Apple’s latest announcement revealed that the company is planning to enable the direct purchase of NFTs. On Oct. 25, Apple published guidelines to show developers how they can create in-app purchases of NFTs, as well as storing, minting, listing, and transferring on their iOS apps.
Public Bitcoin miners are expanding their hashrate share
Public Bitcoin miners’ hashrate share has grown exponentially in the last year.
As a result of the 2021 bull run, miners gained access to considerable amounts of funding, which most re-invested in themselves to enhance their mining capabilities. This development led to a continuous increase in their Bitcoin hashrate shares.
Solend founder says SBF wants to ‘profit at all costs’
Solend (SLND) founder 0xrooter referred to the FTX CEO Sam Bankman-Fried as someone who wants to profit at all costs.
SBF is a profit maxi: profit at all costs
— 🙏🚫 Rooter (hiring!) (@0xrooter) October 24, 2022
0xrooter added that he didn’t have any personal interaction with SBF but argued that the actions speak for the personality, and SBF’s character seems like a “profit maxi.”
MakerDAO MKR community approves ‘endgame’ proposal
MakerDAO (MKR) community approved the DAO’s Endgame proposal with an overwhelming majority of 80% on Oct. 25. The proposal suggested breaking the decentralized protocol into smaller units called MetaDAOs to increase decentralization.
MakerDAO founder Rune Christensen…
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