Last week in review: KPMG to invest $30m in Web3 employee training

Despite a tough past month for crypto, the news featured a flood of positive adoption stories. From Goldman Sachs raising $2 billion to buy Celsius’ crypto assets to the news that half of all Bitcoin wallets in existence hold between 0.0001 and 0.01 Bitcoin, developments continue in crypto despite the downwards trends in the market.

In traditional finance, KPMG announced its $30m investment in Web3 employee training while Ethereum developers delayed the upcoming merge, pushing back the so-called difficulty bomb by rolling out the latest Gray Glacier upgrade.

As always, there is never a dull moment in crypto. Here are our top picks from last week’s headlines.

Goldman Sachs to raise $2 billion to acquire Celsius assets

What

Investment bank Goldman Sachs has struck up a deal to buy up Celsius’ crypto assets in the event of bankruptcy

Why

In April, Goldman Sachs issued its first Bitcoin-backed loan and began offering Bitcoin products to some of its customers. Acquiring Celsius’ assets could help it cement its position in the crypto space

What next

If the deal goes ahead, Goldman Sachs could pick up some of the $3 billion of crypto assets under management by Celsius relatively cheaply if the $2 billion bankruptcy deal goes through

Read the full story here

Half of all Bitcoin wallets hold between 10,000 and 100k satoshis

What 

Half of all Bitcoin wallets in existence hold between 0.0001 and 0.01 Bitcoin, according to data by Bitinfocharts

Why 

This shows again that the majority of investors choose to invest in Bitcoin by a process called stacking sats, short for satoshis, which are to Bitcoin what cents are to the Dollar. There are 100 million satoshis in 1 Bitcoin 

What next 

The notion that investors can, and do, only buy Bitcoin in large amounts is conclusively false

Read the full story here

KPMG to invest $30m in Web3 employee training

What

KPMG has revealed the opening of its first metaverse collaboration hub to help develop its employees and clients to pursue growth opportunities in the space

Why

The firm will make a collective $30 million investment this year in Web3 experiences, with the metaverse hub as the “signature piece”

What next

This investment is part of a long-term objective for the company to examine other potential metaverse use cases such as health care, consumer, retail, media and financial services

Read the full story here

Ethereum one step closer to merge after successful Gray Glacier upgrade

What 

Ethereum developers have again pushed back the so-called difficulty bomb by rolling out the latest Gray Glacier upgrade

Why 

The difficulty bomb has been pushed back numerous times to buy developers more time to run fail-safe tests before the final merge of the two Ethereum blockchains currently running in parallel

What next 

The merge is now expected to happen in September this year

Read the full story here

To catch up on other big stories from last week, be sure to check these headlines:

Bored Ape Yacht Club’s ApeCoin jumps 22% overnight following launch of star-studded music video

SEC Chairman calls Bitcoin a commodity

A quick guide to the Lummis and Gillibrand bipartisan Crypto Bill and what it could mean for crypto in the US

USDC assets to be held in NY Community Bank to aid underrepresented groups

Did you find this useful?
10
0