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Crowd Machine’s cryptocurrency wallet was hacked, resulting in the theft of over 1 billion CMCT tokens. Most of the tokens were dumped on exchanges, leading to an 86% drop in price. The Crowd Machine team is unable to comment further due to an ongoing investigation.
Bullish:
Google will partially lift its ban on crypto-related ads, allowing regulated crypto exchanges to advertise in the US and Japan from October. However, other crypto-related products like ICOs and wallets will remain banned. In June, Facebook updated its policy to allow ads promoting cryptocurrency content from pre-approved advertisers.
Altcoins:
Coinbase has announced clear guidelines for projects that want to be listed on its platform, replacing the previous informal mechanism for requesting a listing.
Adoption
SBI Group is testing a new “S coin” token for mobile retail payments. The token is based on distributed ledger technology (DLT), and trial participants will use it to make cash-free purchases around the company’s Tokyo headquarters.
Scalability
The Red Belly Blockchain, developed by an independent Australian government agency, the CSIRO, processed up to 30,000 transactions per second from different geographic regions with an average latency of 3 seconds during a global test. Bitcoin processes around 3 TPS, NANO achieved 756 TPS during a stress test, IOTA processed over 11,000 TPS during simulation, and VISA handles an average of around 2,000 TPS.
