The Friday Focus: Issue 50

A summary of what happened in the crypto industry during the past week.

Weekly happenings in the crypto industry (Sep 2nd - Sep 9th)

The White House has studied crypto mining and calls for standards to minimize its environmental impact. Coinbase backs a lawsuit aimed at the U.S. Treasury’s Tornado Cash sanctions. The SEC chair Gary Gensler supports giving the CFTC bitcoin oversight. Russia explores stablecoin settlements with some of its trading partners.

Ethereum is expected to transition to proof-of-stake on Wednesday, after completing the ‘Bellatrix’ upgrade this week - the final upgrade to make it technically ready for ‘the merge’. The merge replaces miners with stakers, and most stakers will use third-party infrastructure to run staking nodes and pool capital. The Swiss bank SEBA and crypto exchange Binance US are the latest to enable staking as a service for ETH holders, following the likes of Coinbase, Bitcoin Suisse, and Lido.

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