This Week in Crypto
Bitcoin (BTC) has surpassed $42,000 amidst dovish signals from the Fed. Ethereum (ETH) is predicted to outperform BTC in 2024, according to JPMorgan. Mike Novogratz admits he was wrong about XRP and altcoins.
FIFA has announced its first NFT collaboration with tech firm Modex. Sotheby’s raised $451,000 in its first Bitcoin inscription auction. Pudgy Penguins introduced its zkSync Era-based Web3 game, Pudgy World. Immutable has eliminated fees in its zkEVM gaming solution.
Immortal Game decides to remove NFT and P2E features due to widespread cheating. The Rhysida hacker group attacks Insomniac Games and demands 50 BTC in ransom. Multiple popular dapps were compromised after a hack against a popular Web3 connector. OKX DEX was exploited, resulting in some wallets losing around $400,000. HTX reports $248 million in net outflow, while Justin Sun assures customers that deposits at HTX and Poloniex are “100% safe” despite recent hacks.
Nubank, the Brazilian neobanking unicorn, will now allow crypto withdrawals for its customers. LINE, the messaging app, secured $140 million for the expansion of its NFT platform. Nasdaq plans to leverage its crypto venture technology in emerging markets. DWS Group partnered with Galaxy Digital to issue a euro stablecoin.
BankSocial plans to launch a credit union enabling people to buy and sell digital currencies. A former Credit Suisse executive introduced a crypto trading platform for financial institutions. Worldcoin announced integrations with Minecraft, Reddit, Telegram, Shopify, and Mercado Libre.
Russia claims that all citizens will be able to use the CBDC by 2024, while the Central Bank insists it won’t be ready for nationwide use until 2025. Turkish banking institutions secure their positions in the digital asset space. South Korean financial regulators state that NFTs are not subject to the same rules as cryptoassets. US SEC Chair Gary Gensler avoids questions regarding the status of a spot Bitcoin ETF application.
Binance faces new compliance requirements following its plea deal with the US government. Gemini Earn creditors could see up to a 70% reduction in promised crypto payouts. The Hong Kong High Court rules against Huobi in a trademark infringement case. Sam Bankman-Fried’s lawyer remarks on his client’s cross-examination.
Cardano introduces a new digital Identity Wallet. Coinbase announces the launch of spot trading for non-US investors on its international exchange. BNB Chain publishes its tech roadmap for the decentralized storage network BNB Greenfield. A North American Bitcoin mining infrastructure boom is expected.
