Weekly Top Crypto News (April 24 – April 30)
With the $27,000 support tested this past week, Bitcoin is regaining its bullish momentum. Here, let’s review this week’s top crypto news with Coincu!
Tether MarketCap Is $81.4B, Almost Full Recovery Of Lost Value After Terra Incident
CoinMarketCap data shows that the total market value of Tether has reached $81.4 billion. The market value of USDT dropped by almost 20% in Q2 2022 following the LUNA-UST crypto crash. The strong recovery of USDT is mainly due to USDC and BUSD’s successive regulatory blows and the banking crisis this year.
Binance US Canceled Voyager Acquisition Due To Hostile US Regulatory Environment
Voyager says Binance US has sent notice to terminate its plan to acquire the bankrupt crypto lending platform. The reason the deal was canceled was due to the strict regulatory environment of the United States, which had many obstacles during the acquisition process. Voyager’s attorneys warned in a recent filing that the deal’s collapse could cost its more than 1 million creditors an additional $100 million.
Solana NFT Market Tensor Overtakes Magic Eden In Trading Volume For The First Time
On April 26, the Solana NFT Tensor market surpassed Magic Eden for the first time in single-day trading volume. The total number of sales since Season 2 aired is more than 300% of the total sales made in Season 1. It accounts for about 51% of the daily trading volume of the Solana NFT market.
Google Cloud Partners With Polygon Labs To Help Grow Ecosystem
Google Cloud will support Polygon’s ecosystem of layer-2 blockchains built on top of Ethereum. Startups backed by Polygon Ventures benefit from Google Cloud, including credits for hosting software on its servers and access to its Web3 startup program.
Former FTX Exec’s $4 Million House Searched By FBI
The FBI raided former FTX CEO Ryan Salame’s Potomac, Maryland home. There is presently no information available on what the FBI was looking for at Salame’s $4 million property. Salame was the co-CEO of FTX Digital Markets, the affiliate in the Bahamas.
CFTC Issues Largest Fine In History $3.4 Billion to Former Mirror Trading’s CEO
CFTC sentenced the CEO of Bitcoin pool operator Mirror Trading International to pay $3.4 billion in reparations and penalties. This is the biggest civil monetary penalty ever imposed by the US CFTC in any circumstance. Steynberg participated in a worldwide fraudulent multilevel marketing scam between 2018 and 2021.
Lens Protocol Launches Optimistic Layer 3 Scaling Solution Bonsai Project
The Lens Protocol team has announced the debut of Bonsai, a new layer 3 network designed to grow blockchain social media platforms. The solution intends to accelerate the adoption of decentralized social networks and open up new avenues for content monetization.
Ordinals Finance Is A Rug Pull Scam Causing $1 Million Damage
Security firm Certik has confirmed Ordinals Finance is a runaway scam that caused $1 million in damages. The ETH-based DeFi protocol, Ordinals Finance, left the market on April 24 by removing all information. There are at least 1,287 OFI token holders that have dropped the price by 96%.
zkSync DEX Merlin Hacked, $1.82 Million In Stolen Funds
The DEX Merlin of zkSync was hacked and over $1.82 million in funds was stolen. Certik found that a potential private key management issue could be the root cause of the hack. zkaliburDEX’s research on Merlin smart contracts identified a malicious code that caused the funds to be drained.
Standard Chartered’s Crypto Unit Raises $36 Million In New Funding
Standard Chartered’s crypto custodial subsidiary, Zodia Custody, raised $36 million in financing sponsored by Japan’s SBI Holdings. The funds will be utilized to expand geographically and enhance token coverage, as well as to strengthen interchange and off-exchange settlement services.
Visa Recruits Employees With Passionate About The Web3 Stack Of Technologies
Visa is recruiting software engineers for its crypto department to develop new products in this field and plan a crypto product roadmap. The role is based in London, and employees will be in the office two to three days a week. Candidates also need experience in building highly available and scalable back-end systems and a passion for Web3 technologies.
Coinbase Fights Back: Responds To SEC’s Wells Notice With A Call For Clarity
Coinbase’s executives are prepared to defend their position in court, but they believe an actual dialog about a workable path forward for the cryptocurrency industry is preferable. The exchange has been in talks with the SEC for years but has mostly received silence in response to its request for views on how securities laws might apply to Coinbase and the industry.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Read More
Coinbase Faces Challenges as Analysts Revise Year-End Performance Expectations
Weekly Top Crypto News (April 24 – April 30)
With the $27,000 support tested this past week, Bitcoin is regaining its bullish momentum. Here, let’s review this week’s top crypto news with Coincu!
Tether MarketCap Is $81.4B, Almost Full Recovery Of Lost Value After Terra Incident
CoinMarketCap data shows that the total market value of Tether has reached $81.4 billion. The market value of USDT dropped by almost 20% in Q2 2022 following the LUNA-UST crypto crash. The strong recovery of USDT is mainly due to USDC and BUSD’s successive regulatory blows and the banking crisis this year.
Binance US Canceled Voyager Acquisition Due To Hostile US Regulatory Environment
Voyager says Binance US has sent notice to terminate its plan to acquire the bankrupt crypto lending platform. The reason the deal was canceled was due to the strict regulatory environment of the United States, which had many obstacles during the acquisition process. Voyager’s attorneys warned in a recent filing that the deal’s collapse could cost its more than 1 million creditors an additional $100 million.
Solana NFT Market Tensor Overtakes Magic Eden In Trading Volume For The First Time
On April 26, the Solana NFT Tensor market surpassed Magic Eden for the first time in single-day trading volume. The total number of sales since Season 2 aired is more than 300% of the total sales made in Season 1. It accounts for about 51% of the daily trading volume of the Solana NFT market.
Google Cloud Partners With Polygon Labs To Help Grow Ecosystem
Google Cloud will support Polygon’s ecosystem of layer-2 blockchains built on top of Ethereum. Startups backed by Polygon Ventures benefit from Google Cloud, including credits for hosting software on its servers and access to its Web3 startup program.
Former FTX Exec’s $4 Million House Searched By FBI
The FBI raided former FTX CEO Ryan Salame’s Potomac, Maryland home. There is presently no information available on what the FBI was looking for at Salame’s $4 million property. Salame was the co-CEO of FTX Digital Markets, the affiliate in the Bahamas.
CFTC Issues Largest Fine In History $3.4 Billion to Former Mirror Trading’s CEO
CFTC sentenced the CEO of Bitcoin pool operator Mirror Trading International to pay $3.4 billion in reparations and penalties. This is the biggest civil monetary penalty ever imposed by the US CFTC in any circumstance. Steynberg participated in a worldwide fraudulent multilevel marketing scam between 2018 and 2021.
Lens Protocol Launches Optimistic Layer 3 Scaling Solution Bonsai Project
The Lens Protocol team has announced the debut of Bonsai, a new layer 3 network designed to grow blockchain social media platforms. The solution intends to accelerate the adoption of decentralized social networks and open up new avenues for content monetization.
Ordinals Finance Is A Rug Pull Scam Causing $1 Million Damage
Security firm Certik has confirmed Ordinals Finance is a runaway scam that caused $1 million in damages. The ETH-based DeFi protocol, Ordinals Finance, left the market on April 24 by removing all information. There are at least 1,287 OFI token holders that have dropped the price by 96%.
zkSync DEX Merlin Hacked, $1.82 Million In Stolen Funds
The DEX Merlin of zkSync was hacked and over $1.82 million in funds was stolen. Certik found that a potential private key management issue could be the root cause of the hack. zkaliburDEX’s research on Merlin smart contracts identified a malicious code that caused the funds to be drained.
Standard Chartered’s Crypto Unit Raises $36 Million In New Funding
Standard Chartered’s crypto custodial subsidiary, Zodia Custody, raised $36 million in financing sponsored by Japan’s SBI Holdings. The funds will be utilized to expand geographically and enhance token coverage, as well as to strengthen interchange and off-exchange settlement services.
Visa Recruits Employees With Passionate About The Web3 Stack Of Technologies
Visa is recruiting software engineers for its crypto department to develop new products in this field and plan a crypto product roadmap. The role is based in London, and employees will be in the office two to three days a week. Candidates also need experience in building highly available and scalable back-end systems and a passion for Web3 technologies.
Coinbase Fights Back: Responds To SEC’s Wells Notice With A Call For Clarity
Coinbase’s executives are prepared to defend their position in court, but they believe an actual dialog about a workable path forward for the cryptocurrency industry is preferable. The exchange has been in talks with the SEC for years but has mostly received silence in response to its request for views on how securities laws might apply to Coinbase and the industry.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Read More