PRICE CHANGE: WTD/YTD

- BTC ($10,279): 0% / +42%
- ETH ($356): +1% / +172%
- LTC ($48): -1% / +14%
- XRP ($0.24): -1% / +24%
- YFI ($33,381): +41% / +3,951%*
- Crypto Market Cap ($336B): +2%  / +75% 
- BTC Dominance: 57%
* YTD returns from launch date of 7/20/20

STABLECOIN MARKET CAP CHANGE: WTD/YTD

- Tether ($14.7B): +4% / +256%
- USDC ($2.0B): +15% / +281%

THIS WEEK IN CRYPTO

- Bitcoin miners made $368 million in revenue in August, with transaction fees making up 10.7% of revenue. Ethereum miners made $285 million in revenue last month, with transaction fees making up 40.5% of revenue. Link. 

- Crypto exchanges saw a 30% increase in web traffic from July to August, hitting a 14 month high. Binance had the highest number of visits followed closely by Coinbase; combined they made up over 44% of total web traffic to exchanges. Link. 

- Correlation between the S&P 500 and bitcoin hit an all time high of 0.49 this week. Link. 

- Over $800 million in liquidity funds were transferred from Uniswap to Sushiswap, a fork of Uniswap. Unlike Uniswap Sushiswap rewards its liquidity providers with a native governance token, SUSHI. The migration caused Uniswap's overall liquidity to drop by nearly 60 percent. Link. 

- SushiSwap reduced its rewards for liquidity providers from 1,000 SUSHI tokens per block to 100 SUSHI tokens per block. The reduction came after SushiSwap successfully migrated over $800 million in crypto assets from rival Uniswap. SushiSwap currently has over $1.4 billion in crypto assets. Link. 

- Finance ministers from five EU countries said that all stablecoins in the EU should be pegged 1:1 to a fiat currency from the EU, putting the Libra project at risk in that market. Link.

- Close to 80,000 BTC have been transferred to the Ethereum blockchain, as DeFi protocols have taken off. The aggregate value of Bitcoin lockups on ETH has grown 37% this year to more than $800 million. Cross-chain transfer protocols like WBTC and renBTC use either trusted third-party custodians or smart contract-controlled wallets to hold a digital asset like bitcoin, while making a replica token on another blockchain like Ethereum. The replicated assets are pegged to the value of the original token and can be used to lend or borrow across various DeFi protocols. Link. 

- Many of the top DeFi tokens have seen massive losses in the last 30 days. As of mid-week, Curve was down 58%, Bancor 58%, and Meta 46%. Link. 

- Square has formed the Cryptocurrency Open Patent Alliance (COPA), an initiative for members to open-source their crypto patents in an effort to drive crypto adoption. Members pledge not to use their crypto patents except defensively. Link. 

- YFI, the governance token that powers DeFi platform yearn.finance, will be available on Coinbase Pro on September 14. YFI is earned when people stake cryptocurrency in yearn.finance's smart contract, which distributes the money across different DeFi lending and liquidity protocols. Link. 

- Chef Nomi, founder of DeFi protocol SushiSwap, apologized on Twitter and returned the $14 million of ETH that he had withdrawn from the project a few weeks ago. Link. 

- Mastercard has created a platform for testing central bank digital currencies. Recent surveys have shown that 80% of central banks are contemplating issuing a CBDC, and Mastercard wants banks and others to use their sandbox environment to experiment with the tech. Link. 

- Binance is launching a $100 million fund for projects that build on its Smart Chain, an Ethereum-compatible blockchain focused on DeFi. Link. 

- Rapper TI has settled charges with the SEC over his alleged promotion of a fraudulent ICO for FLiK, a streaming platform. Link. 

- DCG has acquired Luno, a crypto exchange focused on Africa, Asia, and Europe. Link. 

- Fintech startup Reinno has launched an investment platform for tokenized US commercial real estate, offering $237 million worth of property at launch. Accredited investors can invest in individual assets and diversified property portfolios. Reinno has also developed a model to offer investors liquidity ahead of the required 12 month lockup by offering loans backed by the tokens. Link. 

- Casa co-founder Jeremy Welch is joining crypto exchange Kraken as its VP of product. Jeremy stepped down as CEO of Casa earlier this year and continues to serve as an advisor to the company. Link. 

- Food delivery service Just Eat is now accepting bitcoin payments in France for deliveries from over 15,000 restaurants. The service is using Bitpay as its payment provider. Link.