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7 Crypto News Shorts: NFL’s Alex Barrett Paid in Bitcoin, Ethereum Continues Transition and More

It’s been another tough week for the crypto market, with bearish sentiment all around and falls continuing.

At the bottom of the pack was the “stablecoin” UST, which fell 56% to $0.06 — nowhere close to the dollar value it should be pegged to.

Close behind were WAVES (down 18.5%),  GRT (down 17.6%), and AR (down 17.5%).

Crypto News

1) Ethereum’s Transition to Proof-of-Stake Continues

Ethereum’s transition from a proof-of-work to a proof-of-stake consensus mechanism has been in the works for a while to boost efficiency, but it’s now reaching the final steps.

2) Insiders Buy at Coinbase

One of Coinbase’s co-founders, Fred Ehrsam, has purchased $75 million of his own company’s stock, equating to more than one million shares.

3) Energy Report Shows China Biggest Miner

Cambridge University published its latest Cambridge Bitcoin Electricity Consumption Index (CBECI) last week, which analyzes bitcoin mining and where it’s happening.

4) Mining Banned in Niagara Falls City

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