ETH, Student loans, Apple, and more. Let’s dive in.
ETH Merge Coming Soon
The long awaited ETH 2.0 merge is slated for Thursday, September 15. In anticipation of the transition to proof-of-stake for the chain, analysts are putting forward many different theories about how Ethereum’s price will react. Some are concerned that the removal of mining incentives will wreak havoc, especially since it won’t necessarily expand the network capacity or lower gas fees. Keep an eye out for increased volatility in the days before and after the merge.
Biden Cancels Student Loan Debt
President Joe Biden announced on Wednesday that up to $10,000 in federal student debit will be forgiven for student borrowers, with an additional $10,000 available for Pell Grant recipients. Once in effect, the policy will deliver financial relief to millions of Americans. The president also extended the payment pause, which was originally added during the pandemic, through December 31, 2022. Nearly 45% of borrowers, or 20 million people, will have their debt fully absolved when it goes into effect.
Apple September Event
Apple has released a teaser video for their upcoming product event. Per usual, the event will take place on Wednesday, September 7 at Apple Park in Cupertino, California. Rumors suggest Apple will release the iPhone 14 series, along with Max, Pro and Pro Max models. All of the models are slated to have upgraded camera quality and functionality, as well as improvements to the cellular and wifi antennas. The Apple Watch Series 8, paired with a Pro model, is also highly expected at the event.
LastPass Hack
LastPass began notifying users earlier this week of a security incident revolving around their internal development of the application. An unauthorized party allegedly compromised a developer’s account to access parts of the source code and other proprietary technical information. Luckily, the company says there is no evidence any user data or encrypted passwords were accessed with the breach. The source code being public has relatively little to no effect on the security standards already in place to encrypt and store passwords.
Liquidating Bored Apes
BendDAO is a peer-to-peer lending service that lets users borrow ETH against their NFTs. Many users took out loans against their Bored Ape Yacht Club NFTs, which in recent months have not been performing well. Since floor prices have dropped significantly, many of the collateralized NFTs are at risk of being auctioned off. As much as $5.3 million worth of Bored Apes are currently close to being liquidated. Such an event would not bode well for the market, likely causing prices to crash and panic to set in.
CORSAIR Bendable Monitor
Gaming accessory manufacturer CORSAIR has announced an all-new bendable gaming monitor. The device features a 45-inch wide OLED panel, which can be warped from a curved state to a flat state at any given moment. The monitor, powered by LG display technology, is a performance machine with up to a 240 Hz refresh rate and 1440p. No release date has been officially announced.
Fun fact: The first iPhone was released on June 29, 2007.
