Hey Breet Gang,
Is it just me or did the weekend go by faster than usual? 🙃
Oh well, might be Monday again, but your day is about to get a lot more exciting; and not just because there’s a Premier League match later today — which we hope you’ve dropped predictions for!
It’s time to serve the major Crypto news updates from last week! 🕺🏼
The market has shown its volatility in the last couple of days, and there’s been a couple of interesting developments as well, Let’s get right into them:
- The Crypto market bled all through the week, with Bitcoin (BTC) going down by 7.7% and hitting $21,404, while Ethereum (ETH) dipped by 8.8% down to $1,685 by Friday; definitely not the best times but we’d keep our hopes up! 👀
- There was a lot of buzz around potential Ethereum Hard Fork Token, but we watched that tank as ETHPoW dropped to an all-time low of about $52, signifying low interest from traders.
- In some good news, Fiat-backed Stablecoin HUSD which lost its Peg and dropped to $0.92 at the beginning of last week had its liquidity issues resolved and returned to its $1 Peg in about 12 hours! 💪🏻
- Meanwhile, Crypto custodian BitGo stated their plan to sue investment firm Galaxy Digital for a breakup fee of $100M (yes, breakup fee is a thing!) after they backed out of a $1.2B Merger Agreement.
- On Wednesday, Crypto firm CoinFund made a huge move – they launched the $300M Web3 venture capital fund which would serve as backing for early-stage blockchain projects, NFTs, Web3 infrastructure and asset management! 👏🏻
- In South Korea, money laundering watchdogs went hard; KuCoin, Poloniex and 14 other foreign crypto firms were flagged for conducting “illegal business activities” without the proper registration for operations – yikes! 🌚
- Crypto investment firm Jump Crypto announced plans to build a new open-source validator client for the Solana blockchain, and this is expected to boost scalability and efficiency!
- Over at Crypto Lending firm Hodlnaut, things aren’t looking up just yet. Hodlnaut reportedly laid off 80% of its workforce and also disclosed its ongoing probe from the Singapore police 🙃
- And finally, Former Coinbase VP Adam White moved up to great things last week, as investment firm Blackstone announced him as their Senior Adviser for digital assets and blockchain investments 🥳
That’s a wrap, people!
Now, talking about leaving old positions for new ones — japa season is truly here.
You might not get updates when a good friend moves (out of the country), so don’t take it too personally 👀
However, we don’t hide updates over here, and you can keep up with the latest Crypto news via our digital platforms all day, every day!
Till next week, go do great things!