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Weekly Update 8/14/22

  • Home » Blog » Weekly Update 8/14/22
August 14, 2022
By Einstein In Weekly Updates

Weekly Update 8/14/22

Two big pieces of news this week. One is the sanctioning of Tornado cash, a popular mixer that helps user maintain privacy in transaction. Second, the last ETH testnet successfully merged paving the way for the ETH mainnet to switch to proof of stake. ETH has rallied pretty well in the last few weeks in anticipation of this event. Please don’t take much stake in the ETH miners who claim they are going to fork ETH to maintain a PoW chain. This breaks pretty much the entire DeFi ecosystem and is not likely to last long. My recommendation would be to sell any tokens you have if a new chain is created ASAP. Free money is free money, but don’t expect to get much here as likely many folks will be looking to the exit at the same time.

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