Ethereum’s developers are set to prioritize Beacon Chain withdrawals for the network’s next major upgrade, Shanghai, while delaying the implementation of The Surge, the network’s sequel to The Merge.

Payments giant PayPal is set to allow its customers in Luxembourg to buy, sell and hold bitcoin, Ethereum, Litecoin, and Bitcoin Cash in their accounts as it keeps rolling out cryptocurrency services to more regions.

GameStop has announced it will no longer focus any efforts on cryptocurrencies, after posting $94.7m in net losses for the third quarter of 2022. CEO, Matt Furlong, said on a recent earnings call that the company had "proactively minimized exposure to cryptocurrency" over the year, and “does not currently hold a material balance of any token.”

Top stories in the Crypto Roundup today:

• Ethereum Developers Prioritize Staked ETH Withdrawals
• PayPal to Offer Crypto Services to Luxembourg
• GameStop to Drop Cryptocurrency Efforts
• Crypto Market Movers - FET, LTC and TWT

Ethereum Developers Prioritize Staked ETH Withdrawals

Ethereum’s developers are set to prioritize Beacon Chain withdrawals for the network’s next major upgrade, Shanghai, while delaying the implementation of The Surge, the network’s sequel to The Merge.

According to the latest Ethereum Consensus Layer call, this is the first time developers have provided a set window for withdrawals, with the Shanghai upgrade being expected in the first half of next year.

The Surge is expected to help Ethereum process financial transactions faster by changing the way the blockchain manages its workload. It’s believed it could pave the way for significant improvements in Ethereum’s transaction fees and Layer 2 rollups.

The Ethereum Foundation’s JavaScript Team has said it will soon relaunch the Shandong Testnet with enabled withdrawals.

PayPal to Offer Crypto Services to Luxembourg

Payments giant PayPal is set to allow its customers in Luxembourg to buy, sell and hold bitcoin, Ethereum, Litecoin, and Bitcoin Cash in their accounts as it keeps rolling out cryptocurrency services to more regions.

The company said that the move is an “important step in PayPal’s mission to make digital currencies more accessible,” and added:

"We are committed to continuing to work closely with regulators and policymakers in Luxembourg to meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce."

The company rolled out new features in June, allowing users to transfer crypto between PayPal and other wallets. The company’s crypto services were first launched in the U.S. in 2020, before expanding into the UK in 2021.

GameStop to Drop Cryptocurrency Efforts

GameStop has announced it will no longer focus any efforts on cryptocurrencies, after posting $94.7m in net losses for the third quarter of 2022. CEO Matt Furlong said on a recent earnings call that the company had "proactively minimized exposure to cryptocurrency" over the year, and “does not currently hold a material balance of any token.”

Going forward, GameStop will shift its focus to collectibles, gaming, and pre-owned items. However, it has not ruled out pursuing other business and strategic initiatives related to digital assets and blockchain technology.

GameStop's plans within the non-fungible token (NFT) sector are still apparently going ahead. In a filing with the Securities and Exchange Commission on 7 December, the company said it was "also pursuing, and plan to continue to pursue, other business and strategic initiatives associated with digital assets and blockchain technology".

GameStop has previously pushed a number of Web3-related products, including its NFT marketplace, which went live on ImmutableX, an Ethereum layer-2 blockchain, in October. The company also launched a beta self-custody crypto wallet and NFT marketplace on Loopring in March.

Crypto Market Movers – TWT, LTC, FET

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

 

Trust Wallet Token (TWT) - The Trust Wallet token is a utility token based on the BNB Chain that provides holders with “a range of benefits and incentives” when using the Trust Wallet. The Trust wallet itself is an open-source cryptocurrency wallet that supports various cryptocurrencies and allows holders to have custody of their own funds.

Fetch.AI (FET) - Fetch.ai is delivering AI to the crypto economy. Autonomous Economic Agents, powered by artificial intelligence, can provide automation to decentralized finance that can serve the needs of a single user or aggregate millions of data points for on-chain oracles.

Litecoin (LTC) - Litecoin was created back in 2011 as a fork of Bitcoin, and features near-zero cost peer-to-peer transactions. It differs from the flagship cryptocurrency in a number of ways, however, with reduced transaction confirmation times, lower fees, a larger maximum supply of 84 million LTC, and other different technical aspects.

State of the Crypto by Top Tier Exchange Volume

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