This week has been packed with significant developments across the crypto and blockchain landscape, from shocking hacks to strategic partnerships aimed at advancing technology. The most shocking news is the McDonald's Instagram account hack, exploited to promote a meme coin called $GRIMACE. The second important news is Tether's strategic expansion onto the Aptos blockchain for USDT circulation. Apart from these two news, other news include groundbreaking collaborations between leading blockchain and AI firms. These events highlight the dynamic and rapidly evolving nature of the digital world. Below, we dive into the most notable news that shaped the week, offering insights and implications for the future.
**Key Developments in Crypto and Blockchain This Week**
This week has brought a series of notable developments in the crypto and blockchain landscape, ranging from surprising hacks to strategic partnerships aimed at advancing technology. Here's a closer look at the most significant news that shaped the week.
**1. Hacker Exploits McDonald's Instagram to Promote $GRIMACE Crypto Meme Coin**
In a surprising turn of events, a hacker exploited the McDonald's Instagram account to promote a meme coin called $GRIMACE. According to on-chain analytics firm Lookonchain, the attacker used the fast-food giant's credibility to make the coin appear legitimate.
The hacker used 24 insider wallets to purchase 705 million $GRIMACE tokens with just 65 $SOL before the attack. The hacker then sold the tokens for 5,202 $SOL, making a profit of 5,136 $SOL, which is around $738,000 at the time of the attack. This incident highlights the importance of conducting thorough research before investing (DYOR) in any cryptocurrency.
**2. Tether to Launch USD₮ Stablecoin on Aptos Blockchain**
Major stablecoin issuer Tether announced its plan to launch USD₮ on the Aptos Network on August 19, 2024. This move will expand the reach of Tether's stablecoin by leveraging Aptos' fast and scalable blockchain technology.
Currently, the majority of the circulating USDT supply is on the Tron and Ethereum blockchains. Aptos has seen rapid growth with daily active users and millions of transactions. Integrating USD₮ with Aptos promises lower transaction fees and faster processing times, benefiting users and developers.
Tether's CEO, Paolo Ardoino, praised the partnership, highlighting its role in making digital currencies more practical. This partnership marks a significant step toward a more efficient and inclusive financial future.
**3. Clearpool Unveils Ozean: A Dedicated Blockchain for Real-World Assets**
Clearpool, a decentralized credit marketplace, launched Ozean, a blockchain dedicated to enhancing yields from real-world assets (RWAs). Supported by Optimism and built on the OP Stack, Ozean aims to revolutionize DeFi by seamlessly integrating RWAs with a user-friendly and compliant platform.
Ozean is powered by Clearpool's native token $CPOOL and offers advanced staking rewards. It is designed to improve the trading and collateralization of RWAs. Clearpool's new blockchain will address current challenges in the RWA market, aiming to unlock a $16 trillion market opportunity by 2030.
**4. Alchemy Pay Integrates $DOT for Seamless Fiat Conversions**
Crypto payment provider Alchemy Pay partnered with Polkadot to integrate its native token, $DOT, into its on and off-ramp services. This collaboration enables users to convert DOT to and from over 50 fiat currencies in over 170 countries, using their preferred local payment methods.
With support for USDT and USDC on Polkadot, Alchemy Pay offers a wide range of compliant payment options, including Visa, Mastercard, Apple Pay, and Google Pay. This integration simplifies access to the Polkadot ecosystem, catering to both novice and seasoned investors.
As part of its global expansion, Alchemy Pay is pursuing licenses in multiple regions, enhancing its service offerings and operational efficiency. The company's collaboration with Visa and Mastercard further cements its position as a leader in the crypto payment industry.
**5. Delysium and Worldcoin Merge Blockchain and AI**
AI-focused blockchain platform Delysium partnered with Worldcoin ($WLD) this week to strengthen synergies between blockchain and artificial intelligence. The partnership aims to advance the integration of AI in the crypto world, with both firms aiming to create new technologies to help people navigate the AI era.
As part of this collaboration, Worldcoin will participate in Delysium's events during Korea Blockchain Week, highlighting their shared vision for the future of digital identity and blockchain innovation. Together, they seek to explore and create powerful, inclusive technologies that can benefit users worldwide.
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