Walmart is looking for Crypto Product Manager, Dogecoin Foundation is active again after long hiatus, Coinbase amassed $ 4 billion war chest: Holders Digest, August 15-21

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Coming every Saturday, Hodlers Digest will help you keep up with every major news item that has occurred this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, forecasts and much more a week on Cointelegraph all in one link.

The best stories this week

Infrastructure Bill Passes U.S. Senate Without Crypto Clarification

On Tuesday, the controversial infrastructure bill was passed in the US Senate by 69 to 30 votes.

The bipartisan bill proposes approximately $ 1 trillion in funding for transportation and power infrastructure projects. The bill also proposes stricter rules for companies managing crypto assets while expanding reporting requirements for brokers, who will be required to report digital asset transactions worth more than to the IRS. $ 10,000.

Six Senators, including Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema and Ron Wyden, on Monday proposed an amendment to the buzz-kill bill that would exempt software developers, transaction validators and node operators as brokers, while proposing that tax reporting obligations only apply to intermediaries.

Their efforts did not bear fruit, however, as no further clarification on the crypto was provided. Senator Toomey blazed the bill in the wake, noting that the legislation was too expensive, too broad, too unpaid and too threatening to the innovative cryptocurrency economy.

Walmart is looking for a crypto product manager to drive its digital currency strategy

On August 16, it was reported that U.S. retail giant Walmart was looking for an experienced crypto expert who could develop and drive a digital currency strategy and product roadmap for the company.

According to the job listing, Walmart is looking for someone with a background in leadership and business development. They also want to have at least 10 years of experience in product / program management and technology-based product marketing.

Ideally, the candidate should also know a thing or two about crypto, blockchain technology, and why badly-drawn pet rock JPEGs sell for absurd prices on Ethereum.

Walmart’s future digital currency and crypto product manager will be based at the company’s headquarters in Bentonville, Arkansas. The state has produced talents such as Billy Bob Thornton and Johnny Cash, as well as Bill and Hillary Clinton.

Eth2 Staking Contract Ranks As Ether’s Largest Hodler With $ 21.5 Billion

There was good news for Doge fanatics this week as the Dogecoin Foundation resurfaced after several years of total media silence.

According to an announcement released Tuesday, the foundation said it was recovering in an effort to support the fiery-eyed Dogecoin (DOGE) community. The foundation also said it will announce new projects focused on encouraging adoption of DOGE and promoting its usefulness.

The project website lists Ethereum co-founder Vitalik Buterin, Dogecoin co-founder Billy Markus, and Dogecoin Core developer Max Keller as members of the advisory board. Additionally, the interests of Tesla CEO and DOGE promoter Elon Musks can be taken care of in the shadows through Neuralink CEO Jared Birchall.

It has not yet been revealed if Musks’ toddler son hodler loaded onto DOGE in light of the announcement.

Former US Treasury official joins Binance to lead anti-money laundering efforts

Coinbase, the first crypto exchange in the United States, has amassed a war chest of cash worth $ 4 billion on the back of two very productive quarters for the company.

The company reportedly planned to use the money to cover costs incurred by various factors, including compliance with new regulations enacted by the United States legislature.

Coinbase also announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group, while also revealing its intention to add $ 500 million of crypto to its balance sheet and invest 10% of all profits generated in digital assets in the future.

Winners and losers

At the end of the week, Bitcoin is at $ 48,778, Ether at $ 3,282, and XRP at $ 1.28. The total market capitalization is $ 2.09 trillion, according to CoinMarketCap.

Among the 100 biggest cryptocurrencies, the top three altcoin winners of the week are Avalanche (AVAX) at 105.79%, Arweave (AR) at 96.17% and Audius (AUDIO) at 93.78%.

The top three losers of the week in altcoins are DigiByte (DGB) at -5.06%, Celsius (CEL) at -4.44% and BitTorrent (BTT) at -3.81%.

For more information on crypto prices, be sure to read Cointelegraphs market analysis.

The most memorable quotes

Poly Network does not intend to hold Mr. White Hat legally responsible, as we are confident that Mr. White Hat will quickly return full control of the assets to Poly Network and its users. As we have indicated in previous announcements and encrypted messages that have been made public, we are grateful to Mr. White Hats for his outstanding contribution to the security improvements of Poly Networks.

Poly Réseau team

Lawmakers and regulators must work together to properly balance innovation protection with any new regulations to ensure the digital asset market thrives in the United States.

Glenn Thompson and Patrick McHenry, US representatives

The most important thing that can be done today is to move away from the idea that piece voting is the only legitimate form of decentralization of governance.

Vitalik Buterin, co-founder of Ethereum

Here at home in America [] our payments infrastructure is arguably the worst of any developed country in the world, and is falling further and further behind as China resolutely and eagerly works to build an infrastructure that will make the digital yuan a challenger to the dollar as a global reserve currency.

David Marcus, co-creator of Diem

Ethereum is outperforming Bitcoin, and this trend can be expected to continue for the remainder of 2021.

Nigel Green, CEO of DeVere Group

This is DeFi. […] It’s the Treasury Department trying to find a way to get jurisdiction over DeFi […] and also extend its warrantless oversight over a peer-to-peer financial system.

Jake Chervinsky, General Counsel at Compound

Frankly, as one of the first pilots, we have on the table the issue of payment of salaries to employees of the Ministry of Digital Transformation in electronic hryvnia.

Mykhailo Fedorov, Ukrainian Deputy Prime Minister

It’s important to remember that when we look at the business, the long-term arc of digital asset adoption in crypto matters far more than the businesses we build.

Mike Novogratz, Founder and CEO of Galaxy Digital

Prediction of the week

Ethereum liquidity crunch could see new ETH record ahead of Bitcoin analyst

Bitcoin, the crypto industry’s largest asset by market capitalization, and Ethereum (ETH), the second-largest asset, have both seen notable price rallies in recent weeks. While BTC has yet to be surpassed as the best dog in the crypto industry, ETH could hit its own all-time high of almost $ 4,400 before BTC hits its all-time high of nearly $ 4,400. $ 65,000, according to the thoughts of CryptoQuant CEO Ki Young Ju.

The $ ETH could hit an all-time high ahead of the long-term $ BTC, Ju tweeted on Wednesday. The current price in $ ETH is closer to ATH than to $ BTC. Higher demand, lower supply. The sell-side liquidity crisis of $ ETH is intensifying further, as the $ BTC foreign exchange reserve halted its downtrend in May.

On Friday, BTC fluctuated above the $ 48,000 mark and ETH traded above $ 3,200 which, however, is still significantly below its all-time highs.

FUD of the week

JPMorgan Chase reportedly closed bank accounts for mining company Bitcoin

On August 19, US banking giant JPMorgan Chase reportedly blocked all account activity of mining company Bitcoin Compass Mining.

Whit Gibbs, CEO of Compass Mining, took to Twitter to share the news:

Kudos to @Chase for shutting down the @compass_mining accounts for doing our part to replace the old guard with self-sovereign, forward-looking hard-money supporters. Get behind #Bitcoin or get out of our way.

It’s unclear if the tantrum will be enough to convince JPMorgan Chase to change his mind, nor is it clear how shutting down banking services to a Bitcoin mining company represents an attack on BTC in any way. .

On the contrary, the banking giant increased its exposure to Bitcoin and the crypto industry in 2021.

$ 80 Million Hacked Cash Exchange

Liquid, a Japanese crypto exchange, was the victim of a hack of more than $ 80 million this week, which made the platform less liquid.

Cointelegraph reported the news quickly after the exchange announced the attack, which compromised digital assets including BTC, Tron (TRX), Ripple (XRP) and Ether.

The exchange explained that only its hot wallets were affected and added that its assets were being moved to a cold warehouse for security purposes.

The platform has since provided an update and revealed that the hack totaled $ 91.35 million. The company urged users not to deposit any crypto assets into liquid wallets until further notice.

T-Mobile investigates possible data breach on 100 million customers

Speaking of hacking, US telecommunications giant T-Mobile was investigating an alleged massive data breach earlier this week that may have compromised the information of more than 100 million users.

According to Vices Motherboard, T-Mobile is investigating a possible data breach claimed by an author who posted details on an underground forum. A report on Sunday said the hacker claims to have obtained data on more than 100 million customers from T-Mobile servers.

Unlike the Poly Network hacker, who embezzled $ 600 million in digital assets because cross-channel hacking is all the rage, the T-Mobile hacker appears to have entrepreneurial instinct, as he demanded 6 BTC worth around $ 280,000 at current prices in exchange for some of the data.

Best CointelegraphShanghai Special Features: Fallout From Crypto Crackdown and What Happens Next

Owning Bitcoin is not prohibited, but many fear for the future of regulation in China. Here’s where we are and where we might be heading.

Poly Network hack exposes DeFi loopholes, but community comes to the rescue

The original intentions of the DeFi hackers remain unclear, but they refused to accept a bounty of $ 500,000 after returning all funds.

The Perfect Storm: DeFi hacks will drive the crypto industry forward

There is a silver lining in DeFi hacks as new technologies develop to protect the industry: “DeFi will be much more secure in 12 months.

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