• Cardano’s Hydra scaling solution goes live on mainnet as Ethereum gas fees surge.
• PEPE market cap slides below $500M as community interest shifts to other memecoins.
• US Chamber of Commerce sides with crypto industry, blasts SEC.
Cardano’s Hydra Scaling Solution Goes Live
Cardano has launched its hydra scaling solution on mainnet, a move that comes as Ethereum gas fees continue to surge and threaten the network’s scalability. The new system is expected to reduce transaction costs and improve the speed of transactions on the blockchain.
PEPE Market Cap Slides Below $500M
The market cap for Pepe (PEPE) memecoin has dropped from a peak of $1.65 billion to less than $500 million within a week, due to traders swapping their positions for tokens like Milady Memecoin LADYS instead. However, this does not mean that interest in memecoins has decreased – there are more memecoins being developed than before and exchanges are now listing them too.
Do Kwon Granted Bail at €400,000
Do Kwon, founder of ICON Foundation, was granted bail at €400,000 after prosecutors had requested a higher amount. Do is accused of embezzlement and breach of trust related to expenses claimed by ICON Foundation while he was working there, but his lawyers maintain his innocence in the case.
US Chamber Of Commerce Sides With Crypto Industry
The US Chamber of Commerce recently sided with the cryptocurrency industry against the Securities and Exchange Commission (SEC). The organization criticized the SEC’s recent actions against Ripple Labs Inc., arguing that such decisions could stifle innovation within cryptocurrency markets and discourage investors from investing in digital assets in general.
Twitter Appoints Linda Yaccarino As New CEO
Twitter has appointed Linda Yaccarino as its new CEO starting June 1st 2021 after former CEO Jack Dorsey stepped down earlier this year due to personal reasons. Yaccarino is an experienced executive in media advertising whose most recent position was NBCUniversal’s Chairman of Advertising & Client Partnerships Worldwide prior to joining Twitter’s board of directors last July 2020