Umbria’s Crypto News Digest September 28th-October 4th

Umbria Network
5 min readOct 5, 2022

Kim Kardashian fined $1.26m for crypto promo

Reality TV star and businesswoman Kim Kardashian has agreed to pay the Securities and Exchange Commission (SEC) $1.26m to settle crypto-related charges. She failed to disclose that she was paid ($250,000) to promote crypto asset EthereumMax on her Instagram.

Full story below 👇🏻

‘Good chance’ ETH to flip Bitcoin

Ethereum Co-Founder, Anthony Di Iorio, discusses the Ethereum Merge, proof-of-work and proof-of-stake, altcoins and regulation with Kitco News.

Despite centralized control post-Merge being a concern, he believes there’s a good chance that Eth will flip Bitcoin.

Watch the full interview here:

Solana price plunge after another outage

A misconfigured node was the cause of the latest major Solana network outage, which resulted in a tumbling $SOL. The blockchain has been blighted with failures with this latest being the fourth major outage since the start of the year.

It’s not all bad news for the blockchain, Ornella Hernández reporting for Blockworks says that Solana’s market share of total NFT trading volume rose from 7% to 24% in the last six weeks. More below 👇🏻

Robinhood adds support for AVAX

Having listed Avalanche’s AVAX cryptocurrency in August, Robinhood is enabling transfers of the asset. Now you can send, buy and receive $AVAX via the popular trading app.

Read more on U.Today:

Avalanche joins the Chainlink SCALE program

Avalanche has announced that it’s joined ChainLink’s SCALE program. SCALE helps blockchain partners obtain access to new oracle services and/or oracle configurations specific to their dApp’s ecosystem needs. With SCALE, Avalanche devs can get high-quality oracle services while helping support the long-term sustainability of Chainlink.

Read more here:

🪂 Arbitrum airdrop on the horizon?

Layer 2 scaling solution Arbitrum is reportedly gearing up for an airdrop. Commentators are speculating about what prerequisites there might be to qualify for a potential drop. Whilst no-one quite knows, one thing’s for certain, it will require bridging to Arbitrum, and you know where you can do this the fastest and cheapest…


Read more here:

Arbswap Launches the Nova Accelerator to Support Arbitrum’s Ecosystem Growth

Arbswap, the Arbitrum-native AMM decentralized exchange (DEX), has launched the Nova Accelerator with support from multi-strategy blockchain investment fund Old Fashion Research. The Accelerator aims to support the growth of Arbitrum Nova’s ecosystem through investments (cited to be around $10 million) and advisory services for projects building on the platform.

Read more here:

Fantom and blockchain future

Despite the crypto winter and current market turmoil, Michael Kong, CEO of Fantom Foundation, is optimistic about Fantom’s place within a multi-chain future. However, he notes that the number of players will consolidate substantially.

On the Merge:

Read more here:

Horizon Blockchain Games Closes $40 Million in Series A Funding

Horizon Blockchain Games has raised $40 million in Series A funding, which will be used to grow its stable of products and scale operations. The company will develop Sequence, its all-in-one developer platform and smart wallet for building web3 games and applications, expand the content and reach of Skyweaver its popular trading card game (TCG) and introduce Niftyswap, a semi-fungible token (SFT) to the marketplace.

Polygon was one of the web3 space companies participating in the investment round, which was led by Brevan Howard Digital and Morgan Creek Digital.

“Horizon and Polygon have been collaborating since 2019, and we’re thrilled to deepen our relationship,” said Sandeep Nailwal, Polygon Co-Founder. “Both organizations are enabling incredible experiences on Polygon and driving adoption of the Ethereum ecosystem. We are onboarding some of the world’s biggest companies to Polygon, and it’s amazing to have the Sequence platform for developers, so that their journeys into web3 are seamless.”

Binance completes the first $LUNC burn

Cryptocurrency exchange Binance has revealed that its has burned approximately $1.8 million worth of Terra Classic (LUNC) — previously Terra (LUNA) — trading fees for LUNC/BUSD and LUNC/USDT spot and margin trading pairs.

Check back here for the latest updates.

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Until next week!

The Umbria Team 🚀



Umbria Network

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