Hello, Breet Gang! 🕺🏼
It’s Monday again, but thankfully, a new month begins this week – whoop whoop! 🥳
Isn’t it rather ironic? That the longest month on the calendar is followed by the shortest month?
It’s like time decided to give us a back-rub for the shege that January showed us for far too long, and who are we to complain? 😁
Anyhoo – it’s also time for our Monday rundown featuring the juiciest news from the Crypto world in recent times! 🌎
Ready? Time to dig in:
1. After a good run all week, the crypto market took a dip towards the end, with Bitcoin dropping to $22,956 after a 0.06% fall, while Ethereum made a loss of 1.51% & was at $1,577 early Friday afternoon. We move 👀
2. Next up — Texas Lawmaker Senator Ted Cruz is proposing a new concurrent resolution which would require food service contractors and vending machines operated by vendors on Capitol Hill to accept cryptocurrency as a payment option. Time to move with the times 👏🏻
3. FTX drama is far from over o! According to a new court filing, FTX is said to be owing a long list of creditors — from Netflix, to Binance, Wall Street Journal, The New York Times, Stanford University, Coinbase and many other media companies, airlines, universities and charities. Where do they begin? 🙃
4. Exciting times are near — web3 storytelling platform StoryCo has raised $6M in a seed funding round led by crypto investment firms Collab + Currency and Patron, with the aim of decentralising storytelling through token-gated collaborative experiences. We look forward to it! 🤩
5. And another successful seed funding round happened! Web3 infrastructure Spatial Labs has also raised $10M in a round that was led by Blockchain Capital. The funds raised are to be used for new product innovations and growth initiatives. A win! 💪🏻
6. Porsche’s NFT floor price has more than doubled from its mint price last week 🤑 ! The interesting part is how this is coming after a wide-spread criticism trailing Porsche’s strategy from the initial launch, (when the secondary market price struggled to meet the mint price and most of the NFTs were trading at a discount!). Should we call this one a miracle? 😁
7. Moving on — global sportswear brand Nike, through its Web3 platform .SWOOSH, is about to reward creators for virtual sneaker designs. The brand is offering a $5,000 cash prize and a chance to collaborate with Nike designers on a one-of-one virtual sneaker. Excited? We hope so! 🔥
8. Another day, another fraud case! Decentralised crypto exchange Mango Markets is suing exploiter Avraham Eisenberg for $47M in damages. DeFi trader Eisenberg “through fraud and deception” took about $114M from Mango Markets & returned only $67M, but Mango Markets now wants the rest back in damages. As they should! 🌚
9. And lastly — Irish Central Bank Chief Gabriel Makhlouf has called for a ban on crypto advertising in Ireland. His reason? That crypto has “no social value whatsoever” and that the Central Bank is “very concerned” about the risks retail customers face when investing in “unbacked” cryptocurrencies. Wahalur 🤭
That’s it — you’re all caught up! 💪🏻
Don’t want to miss a single gist this week? It’s easy — just follow us on our social media platforms & drop by our blog every now and then, m’kay?
Have a great day, Gang! 🕺🏼
