Aakash Gupta · 4 min read · Growth
Polygon announcements multiple partnerships, ETH merge date soft committed, Celsius Bankruptcy disclosures and US CPI reaches all-time high
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Polygon rallied on a string of partnerships, including Disney's Accelerator selection, Robinhood custody for MATIC, and a zkEVM preview ahead of ETH Paris. Ethereum's Merge has a soft target in the week of September 19, moving toward proof of stake with energy-use reductions, though final timing and impact on fees remain uncertain. Celsius disclosures reveal a substantial balance sheet shortfall and risky fund allocations, highlighting vulnerabilities in crypto funding structures; the recap also notes broader market signals like CPI data and other industry moves.
Key Takeaways
- Polygon's business development momentum drove a 32% weekly rally, featuring Disney Accelerator selection, Robinhood deposits/withdrawals, and a zkEVM preview.
- ETH Merge timeline remains soft with a September 19 target; transition to PoS reduces energy use but impact on fees and speeds is not guaranteed.
- Celsius bankruptcy disclosures show a ~$1.2B shortfall (4.3B assets vs 5.5B liabilities) and risky fund allocations across mining and other exposures.
- Broader market signals, including CPI updates and other crypto industry moves, underscore ongoing volatility in the sector.
Excerpt
Top Stories: 1. Polygon rallies after a week of announcements $MATIC the native token of Polygon, rallied 32% last week in wake of multiple high profile partnerships and announcements. First, Polygon was chosen as one of the 6 companies and the only blockchain company, to be selected for Disney’s Accelerator program in 2022 Second, support for $MATIC withdrawals and deposits went live on Robinhood Third, the team is all set to unveil and showcase its new zkEVM product during ETH Paris this week Early Thoughts : While none of these announcements are a major product milestone or bring any change…