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USDT reduces commercial paper stocks and increases cash and bank deposit reserves Leading stabelcoin issuer Tether has begun reducing its holdings of commercial paper. According to a new report from the company, Tether reduced its holdings in commercial paper from $20 billion to $8.5 billion in the second quarter of 2022, a reduction of more than 58%. Tether says it plans to reduce its commercial paper holdings to about $200 million by the end of August and to zero by the end of the year. Tether also said it increased its holdings of cash and bank deposits by 32% in the second quarter.

Cryptocurrency expert warns of a domino effect similar to the 2008 Wall Street crash Lennix Lai, director of financial markets at OKX, the second-largest cryptocurrency exchange by spot trading volume, said the crypto industry could face a domino effect very similar to the one the financial market experienced in 2008. "The domino effect we're seeing among crypto firms is akin to the 2008 financial crash among Wall Street firms," he said. According to the report, at least ten crypto firms have gone bankrupt or suspended user withdrawals since the beginning of the year.

The cryptocurrency market crash led to more than $500 million in liquidation in 24 hours The cryptocurrency market recorded a serious slump on Friday, causing major cryptocurrencies to lose key support and fall to new monthly lows after a prolonged bullish rise last month. The sudden collapse after weeks of bullish momentum also led to the liquidation of 157,098 traders in the past 24 hours, eliminating more than $551 million. The liquidation of long positions in BTC futures reached an eight-month high.

Cardano investment products are now available for customers of major German banks Cardano investment products will now be available to customers of large German banks Comdirect and Onvista. This comes after Valor announced an agreement with both banks as a provider of crypto products for retail customers in Germany. Comdirect is the third largest German bank and boasts more than 3 million customers. It provides online brokerage, banking and advisory services in Germany, as well as access to 46 stock exchanges outside of Germany. Onvista is an online broker and a subsidiary of Comdirect Bank AG.

The ETHPOW team froze the first batch of smart contracts for 1.4 million ETH A total of 140 million ETH smart contracts are planned to be frozen if users do not withdraw liquidity. Freezing the contracts will result in the inability to do anything with ETH on those contracts after the fork. The unbanning will happen after the fork, when the ETHPOW team decides.

Solana is really decentralized? Solana recently published its first report assessing the state of the validator network, which includes the total number of validators, the Nakamoto consensus, and distribution. Despite 9 million holders, the top 100 SOL holders control 30.81% of the total supply. However, the report notes that none of the large data centers using Solana nodes came close to exceeding 33% active share. Geographically, more than 50% of Solana's shares are concentrated in just 3 countries - Germany, the U.S. and Ireland. Solana notes that this is still better than the 45% concentration of Etherium miners in the US.

Dutch company Murasaki raises €1.5 million for development Dutch game development studio Murasaki has raised €1.5 million in seed funding, a round led by major Japanese venture capital firm Incubate Fund. Founded by Japanese and European developers, Murasaki intends to use the funds to create a new wave of decentralized, community-oriented games. In addition, the money will be used for a NFT-centric game, Cyberstella, which is currently in development and will give players a new perspective on P2E. It will be launched in the first quarter of 2023. The company plans to have a token release and beta version of the game in late 2022.

Europe's leading tire manufacturer integrates cryptopayments Europe's leading tire manufacturer Vaculug announced that it will accept cryptocurrencies, making it the first firm in the field to integrate cryptopayments. The company's customers will now be able to purchase tires and related services for bitcoins (BTC) and Ethereum (ETH). According to Vaculug IT manager Jason Humphries, the firm chose cryptocurrencies and blockchain to meet customer needs, taking into account the immediacy and cost-effectiveness of transactions. Blockchain technology is not the future, but the present. We believe all companies will have to accept cryptocurrencies in the near future, and we are proud to be the first to do so," Humphries said. Notably, cryptocurrency payment functions are being implemented against the backdrop of a significant drop in global prices for various digital assets in 2022. However, since July, Ethereum and bitcoin have shown slight growth, trying to get out of the bear market.

⚡️ Stablecoin in the Acala network lost its peg to the dollar According to a media report, this was due to a hack of the iBTC/aUSD pool. A hacker took advantage of a vulnerability and withdrew more than $1.2 billion worth of aUSD. The developers of the project, in turn, report a "problem with the Honzon protocol configuration" that affected the Stablecoin. aUSD was down more than 70% at one point. It is now trading at $0.8. Acala is holding a vote to halt operations on the network.

Token of bankrupt cryptocurrency lender Celsius jumped to the highest in 3 months🤔 The CEL token is now trading at ~$1.8. Today it passed the $2 mark, its highest price since May. As a reminder, Celsus filed for bankruptcy on July 13. Since then, the token has more than doubled.