Tron Foundation to dissolve as Justin Sun takes up government job in Grenada

Happy Saturday, everyone! The global crypto market cap is $2.19 trillion with a 24-hour volume of $89

CryptoSlate Newsletter @cryptoslate

Happy Saturday, everyone! The global crypto market cap is $2.19 trillion with a 24-hour volume of $89.54 billion. The price of Bitcoin is $46,753.01 and the BTC dominance is at 40.2%. The best performing cryptoasset sector is Lending/Borrowing, which gained 10%.

Tron Foundation to dissolve as Justin Sun takes up government job in Grenada The Tron Foundation, the organization behind the TRON (TRX) cryptocurrency, today announced that it will dissolve itself next summer, leaving the blockchain's ecosystem completely in the hands of its community. Simultaneously, Tron founder Justin Sun has revealed that he is stepping down from his position of CEO and will take up a job with the government of Grenada as its ambassador to the World Trade Organization (WTO). "Sun's expertise in the blockchain industry will likely breeze some much-needed fresh air into the regional economy, as Grenada and [intergovernmental organization] CARICOM are among the hardest hit by a Covid-led tourism industry shutdown," said the Tron Foundation in a press release shared. cryptoslate.com

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SEC postpones decisions on Bitcoin ETFs from Bitwise and Grayscale until February The United States Securities and Exchange Commission (SEC) recently issued two deadline extension notices–postponing decisions on Bitcoin exchange-traded fund (ETF) proposals by Bitwise and Grayscale. cryptoslate.com

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Polygon and Alexis Ohanian's VC firm launch a $200 million fund for Web3 social media Polygon has partnered with Seven Seven Six to create a $200 million initiative that will back Web3 projects building social media. cryptoslate.com

Harvard, MIT, Oxford, others tap $2.5 billion BitDAO to aid blockchain education Eight world-famous universities, including UC Berkeley, Harvard, MIT, and Oxford, have founded a new decentralized autonomous organization (DAO) that will focus on addressing the "funding crisis and skills gap" in blockchain research and education. cryptoslate.com

Cardano Hydra scaling solution edges closer to testnet launch A GitHub post by Cardano software engineer Sebastian Nagel detailed updates to the 0.2 version of Hydra. cryptoslate.com

Global Esports Federation partners with Flare Network to launch NFT Cup  The inaugural Global Esports Games is taking place in Singapore from December 17 – 19. cryptoslate.com

Here is why Binance is leaving Singapore Last week, the world-leading centralized crypto exchange, Binance, announced it had withdrawn its license application and would be winding down operations in Singapore. At the time, the exchange claimed its decision was connected to its recent acquisition of HGX. cryptoslate.com

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