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European Central Bank sets for biggest rate hike in 22 years

Edition #27 - 22 JULY 2022

The European Central Bank raised its key interest rate by 50 basis points, the first increase in 11 years and the biggest since 2000 as it confronts surging inflation even as recession risks mount. Bitcoin briefly slips below $23,000 following the announcement, recovers swiftly.

gaming developments

  • Minecraft’s developer Mojang has decided not to allow integration of non-fungible tokens or other blockchain-related tech in the game;

  • Epic Games 'definitely won’t follow Minecraft’s lead’ in banning NFTs;

  • Star Atlas announces launch of DAO, revamped marketplace;

  • Gaming hardware manufacturer Razer introduces crypto rewards program, partners with Cake DeFi to allow gamers and customers to redeem points for DeFi tokens.

metaverses & Adoption

  • Chinese tech giant Tencent is looking to close down the Huanhe NFT marketplace, terminating the operations after less than a year since its opening;

  • Ethereum is set to become deflationary post Merge, data shows;

  • Goldman Sachs settles first security lending deal on blockchain worth ‘hundreds of millions’

  • Dexterlab study: Over 30% of crypto enthusiasts will never buy an NFT;

  • Whale buys $1.7 billion in ETH futures marking 7-month highest hourly market order;

  • UK Markets bill extends banking rules to crypto assets, specifically stablecoins;

  • Tesla sells 75% of its bitcoin holdings.


  • BlockFi discloses $600 million ‘credit risk’ during its quarterly financial update;

  • Canadian pension fund CDPQ is increasingly likely to lose all of its $150 million investment in the bankrupt Celsius;

  • On-chain investment protocol Sommelier debuts Cellar, a smart contract representing decentralized investment strategies on Aave;

  • Founders of the troubled hedge fund Three Arrows Capital have broken their weeks-long silence - “the whole situation is regrettable;

  • Celsius begins restructuring, receives approval for Bitcoin mining facility. Customers could wait years to receive funds.

funding rounds

  • Halborn, a blockchain security firm, raises $90 million Series A in a round led by Summit Partnerswith participation from Castle Island, Digital Currency Group, Sky Vision Capital amongst others.

  • Travel Coin, a crypto-rewards ecosystem, secures $35 million investment commitment from GEM digital;

  • 5ire, an L1 blockchain infrastructure, successfully completed its $150 million Series A funded by SRAM & MRAM, valuing the company at $1.5 billion.


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