Crypto News Update From Last Week – September 5, 2022

Hey Breet Gang,

It’s the beginning of another week in September, and I just need to ask — where is 2022 going abeg? 👀

We’re officially in the final quarter of this intense year, and even in the Crypto market, a lot has happened in 2022! 🤝

Just before you get caught up in the grind this Monday morning (we see you, hustler!), it’s time to run through the pleasant and not-so-pleasant stories that made Crypto news headlines last week.

Let’s get into the stories:

1. The Bearish run has been tough, but the biggest Crypto coins have been tougher this new month! Bitcoin went up after a 1.68% gain to hit $20,307, and Ethereum sat at $1,635 after a 4.45% gain on Friday 🕺🏼

2. Chilliz, Cosmos and EOS tokens have been doing so well in these bloody times, you’d think they have two heads! These three were the best performing Cryptos in August; CHZ token jumped 75.8%, Cosmos’ Atom token by 14.5% and EOS by 3.6% 🙌🏻

3. Meanwhile, Cryptocurrency exchange Crypto.com pulled the plug on what should have been a 5-years UEFA Champions League deal worth $495M, due to regulatory concerns in Europe. Omo — massive loss 🥲

4. In Hong Kong, Tech Giant Meitu has lost nearly half the valuation of its Crypto holdings — over $43M — since the bearish trend of the market! (Yet look at me, crying over the small change I’ve lost 😌)

5. Social media Giant Snap hasn’t had the easiest year. Snap has reportedly shut down its Web3 team as a means of cutting down on costs after recording its lowest growth numbers in five years 🙃

6. South Korean electronics brand LG is preparing to launch a new Crypto wallet named Wallypto. This digital currency wallet is in its beta testing phase and will be launched in the third quarter of 2022. Major moves! 👏🏻

7. Crypto Lender Celsius which declared bankruptcy in July filed a court request to return about $50M of customer’s funds — even though their customers insist on getting ALL their money back 🌚

8. The CEO of Binance seems to be getting some heat, as US federal prosecutors have been probing for money laundering, and require Binance to provide records that show anti-money laundering checks 👀

9. Finally, in El Salvador, Bitcoin Beach is set to receive over $200 million from the government to support infrastructure development, expansion and tourism. Must be nice! 🤑

Time to draw the curtains — you’re all caught up with the big news from last week!

There’s always something happening in the Blockchain/Crypto world, but you can trust us to bring you all the details 💪🏻

To keep up, be sure to follow Breet on our digital platforms!

Till next time, stay safe!

Somebody from Breet.

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