This Week in Crypto: A Bitcoin rally sent the price soaring into the mid-€30,000s and wiped out millions of short positions, Shiba Inu had a higher market cap than Tron and Dogecoin was pumping too, as a movie chronicles the life of Kabosu, the Shiba Inu that appears in the famous Doge meme. Mike Novogratz advised investors to buy Bitcoin and Ethereum as the “clearest transactions”, while Warren Buffett again said that BTC is a gambling token with no intrinsic value. Bank of America saw the latest trend as an indication of weaker “sell pressure” on BTC, and Ethereum L2 solution dedicated to developing AI CryptoGPT raised €10 million at a valuation of €250 million.
Twitter and eToro teamed up to allow social media users to buy and sell cryptocurrency and other financial assets, MetaMask added a new feature that allows users to buy cryptocurrency with fiat directly from their Dapp wallet, and El Salvador issued a historic first license of digital assets to the Bitfinex exchange. While the billionaire Winklevoss twins invested €100 million in the Gemini crypto platform, little-known FTX co-founder Gary Wang was cooperating with prosecutors after pleading guilty to fraud in December, and FTX was considering restarting its platform as it recovered €7.3 billion in assets. .
MiCA will be debated in the European Parliament and get a final vote next week, Russian politicians will debate a long-awaited bill on crypto regulation before the end of the current parliamentary session, and the G7 aims to help developing countries to introduce CBDC. that meet international standards. More than 420 merchants in Changsha now accept digital yuan payments, and in Hong Kong, the chief financial officer is pushing Web000 adoption despite market volatility.
Meanwhile, South Korean prosecutors want to freeze crypto assets and cash belonging to Terra founder Do Kwon, and legal experts aren't sure if Terra 'victims' will ever be able to recoup their $37 funds. millions of dollars now "lost". While this was going on, Bitmain was fined almost €4 million for unpaid taxes in Beijing.
Yearn Finance lost around €11 million worth of crypto in an attack, SushiSwap suffered losses of more than €3,3 million after a hacker exploited a bug in a smart contract, and Tether blacklisted a validation address. responsible for draining €25 million from the MEV bots. Brazil's €178 million "crypto scam ring" fled the country just before police launched an investigation, with a couple in South Korea confirming they gave money to the alleged killer of a 48-year-old woman.
Completed weekly news roundup. Let the jokes begin!