The Friday Focus: Issue 51

Welcome to our Friday newsletter - Our weekly crypto news summary, separating the signal from the noise.

Weekly happenings in the crypto industry (Sep 9th - Sep 16th)

The biggest crypto event in several years occurred this week, as Ethereum activated "the merge" and shifted its consensus algorithm from proof-of-work to proof-of-stake. This transition has significant implications for Ethereum and the rest of the crypto ecosystem. Ethereum proponents celebrate the change as it will reduce Ethereum's energy consumption and pave the way for the upcoming sharding upgrade to increase its scalability.

Still, "the merge" may bring increased regulatory and censorship risks for Ethereum, as SEC Chair Gary Gensler stated that proof-of-stake cryptocurrencies might become classified as securities. At the same time, advocates of Bitcoin's consensus mechanism proof-of-work have long warned about the censorship risks of proof-of-stake. "The merge" could also lead to increased scrutiny about Bitcoin's energy consumption, and Greenpeace has already intensified its anti-Bitcoin marketing campaign.

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