The upcoming Merge is leading investors to be bullish on Ethereum, while institutions like tech companies and pension funds are back to investing in crypto. Meanwhile, the crypto industry is looking forward to new regulations while more people are working on crypto. Find out the top 5 crypto news of this week.
The Ethereum “Merge” – opportunities & risks
Ethereum is going ahead with its Merge, changing its protocol to a Proof-of-Stake consensus from a Proof-of-Work (PoW), enabling more scale, efficiency, and a better energy profile. Investors have been bullish on the Merge, with ETH gaining 100 percent in price, leading to the question if the news is priced in or if this is only the start of a positive trajectory. The Merge is only a first step into a long-term roadmap that will improve Ethereum, increasing the anticipation for this change. But is the potential upside bigger than the risks? Read more
Pension funds remain interested in crypto despite crash: WSJ
New reports from the Wall Street Journal revealed that even after the crypto crash in April, institutions like pension funds in North America are still interested in cryptocurrencies. However, the market conditions in 2022 led pension funds to reevaluate their position towards crypto on whether to double down or walk away, leading to most remaining with interest. Some institutions even see the bear market as an opportunity to expand and diversify their crypto investments, given that ‘volatility and large swings in crypto are expected.’ Read more
With over $1.5 billion in blockchain and crypto investments, Alphabet outranks other firms
Investment into crypto startups is continuing to boom in 2022, with tech companies, VCs, and financial institutions buying participation in crypto players. According to a new report, Alphabet is the company with the biggest investments, over $1.5 billion, into crypto startups, followed by BlackRock and Morgan Stanley. Most companies investing in crypto players are from the finance, banking, and tech industries, with almost $6 billion invested by 40 firms between September 2021 and June 2022. Read more
UK crypto industry welcomes new stablecoin rules, awaits guidance
The UK crypto industry is welcoming the rules targeting stablecoins in a global effort by regulators to address the issues coming out of Terra’s UST collapse. However, the crypto sector is still not sure how the new rules, part of a larger financial-services and markets bill, will be interpreted and acted upon by watchdogs. Under the new rules, ‘digital settlement assets’ like stablecoins will be regulated according to local payments guidelines, but the bill will still be discussed in September. Read more
Blockchain industry workforce grows 80 percent this year, study shows
More people are working in crypto, with a new report showing that the number of blockchain jobs has increased 76 percent annually by June 2022. The US, India, and China lead the way as the countries with the highest blockchain talent pools, but India, Canada, and Singapore show the fastest growth within the industry. The most sought-after skills in the industry are finance, technical development, business development, information technology, and sales. Read more
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