Latest Crypto News: Base to Launch UI Bridge On Aug 9, NFTs See Drop In Gas Use, SEC Freezes Debt Box Assets

Coinbase’s Base network has begun onboarding users through its new mainnet bridge UI before its launch on August 9. The network has developed an interface for the UI Bridge to enable user onboarding without developer tools. To celebrate the event, dubbed “Onchain Summer”, the Base team will distribute over 100 Ether tokens as awards to users.
It has already enabled users to use the bridge UI before its official launch, although some Web3 apps may not be available until August 9. The Base team has also announced activities like art, music, gaming, and advocacy events, besides ETH grants to mark the occasion. 
Users can create Base-related websites, art, videos or deploy protocols through the interface. 
NFT Segment Sees Drop In Gas Use 
Amid a surge in gas prices, the nonfungible token or NFT marketplaces witness a sharp drop in gas use, accounting for just three per cent of the total Ethereum gas consumption. 
Ethereum gas use by NFTs has declined dramatically since its peak in 2021. The NFT marketplaces and projects were the highest gas consumers but the consumption has declined significantly over the last two years. According to data supplied by the on-chain analytics company Glassnode, the use of petrol by NFT marketplaces has been on the decline. 
This shift could be due to the fact that few users might be exchanging their assets on markets. According to blockchain explorer Etherscan, NFTs were the top gas consumers in 2021. For instance, Axie Infinity, an NFT game project, and NFT marketplace OpenSea were among the top gas consumers in 2021. The Axie Infinity’s high gas consumption was blamed on the Ronin Bridge which moves assets from Ethereum to the Ronin blockchain. 
SEC Freezes Assets Of Debt Box, alleging $50M Node License ‘Sham’ 
Blockchain mining software firm DEBT Box has been accused of lying to investors about its involvement in crypto mining and “node licenses.” The US Securities and Exchange Commission (SEC) has reportedly acquired a temporary asset freeze against Digital Licencing Inc., a Utah-based crypto corporation, accusing it of running a $50 million fraudulent crypto scheme. On August 3, the SEC said it won a temporary asset freeze, a restraining order, and other emergency relief against Digital Licencing, operating in the name of “Debt Box”. The SEC accused several individuals of the firm, including Jason Anderson, his brother Jacob Anderson, Schad Brannon, Roydon Nelson and 13 others of fraud. The SEC claims that the business has been selling unregistered securities known as “node licences” since March 2021.