Prominent crypto exchange Binance being allowed to offer trading in the UK again, MicroStrategy announcing the purchase of 3,907 BTC worth a total of $177 million, more than 100.000 ETH burnt since London-Upgrade, VeChain contributing to a better collection of CO2 data, and more. Read more about what happened in the blockchain universe last week.
Binance is allowed to offer trading in the UK again
The famous crypto exchange Binance has been facing pressure from regulators all over the world for several weeks. Now, however, comes the first relief. On August 25, the UK’s FCA (Financial Conduct Authority) announced that Binance now meets the requirements placed on it and is thus allowed to trade in the UK again. Two months earlier, the FCA banned Binance from offering certain services. The reason for this was that Binance was not authorized to conduct regulated activities in the UK without the FCA’s written consent.
MicroStrategy announcing the purchase of 3,907 BTC
Multinational software company MicroStrategy revealed on Tuesday the purchase of Bitcoin worth a total of $177 million U.S. dollars. This brings MicroStrategy’s current bitcoin supply to 108,992 BTC, which is the equivalent of about $5.3 billion U.S. dollars. According to The Block, CEO Michael Saylor said Tuesday morning that the company has spent about $2.918 billion U.S. dollars at an average price of $26,769 U.S. dollars per bitcoin to obtain digital assets.
More than 100.000 ETH burnt since London-Upgrade
Since the implementation of Ethereum’s London upgrade, the network has burned $300 million worth of ETH. The London upgrade includes the EIP-1559 fee-burning mechanism, which saw a total of 100,000 ETH burned during transaction fee processes in just 20 days. According to The Block, this has significantly lowered the inflation level of the Ethereum blockchain. Currently, the supply increases by about 5% annually but was effectively reduced by 35% due to the burned transaction fees.
VeChain contributing to a better collection of CO2 data
Proof-of-stake token VeChain has launched a new blockchain platform that allows companies to openly track and report their CO2 emissions data. VeChain is a blockchain product that aims to improve supply chain and product control and authenticity. In a Medium post, the so-called Digital Carbon Footprint SaaS service was announced Thursday and is said to be a combination of the more decentralized ledger technology and the Software as a Service (SaaS) business model. This solution could solve trust issues regarding emissions data of enterprises and its collection with the help of transparency through the public blockchain.
And more exciting news from around the world:
- Twelve-year-old boy makes £290,000 from whale NFTs
- NFT platform Art Blocks breaks record with $5.8 million sale
- Jack Dorsey plans to launch a decentralized bitcoin exchange
It was a great week for blockchain technology. Follow us for more exciting news and be part of the blockchain revolution by joining our BLOCKCHANCE EUROPE 2021 conference in Hamburg in December 2021. You can get tickets here.