The previous week saw bitcoin become a more favored investment, at the expense of ethereum. DeFi and NFT lost ground. A global investigation by ICIJ – dubbed “The Pandora Papers” – revealed how the world’s elite used offshore structures and trusts to hide their wealth in tax havens. bitcoin broke through the USD 55,000 resistance and returned to USD 1trn in market capitalization. was also decoupled from stocks while Bitcoin Lightning Network has been growing faster that public metrics indicate. After the MoneyGram partnership announcement was made, Stellar surged to an AATH and Shiba Inu rose on high volume. then climbed towards the top 10 list. The deposits on the ‘big 4’ South Korean exchanges increased 1,368%. CoinSwitch Kuber stated that it raised more than USD 260m and was valued at USD 1.9bn. CoinShares also invested in FlowBank, a Swiss-based online bank.
In the Ripple SEC battle
Although crypto regulation is in Latin America is on the cards, Chainalysis discovered that India’s cryptocurrency market is more mature than those of Vietnam or Pakistan. One of the most prominent engineers from Salvador claimed that Bitcoin mining using volcanic power could cause economic disaster for the country. President Bukele also blasted those who opposed the currency’s rise. The US SEC Chairman dismissed the possibility of crypto regulation. Chainalysis found that India’s crypto market is more mature than that of Vietnam and Pakistan.
In the Ripple SEC battle, at least six holders of XRP will be represented in court while Circle was served with a subpoena. Unstoppable Domains, 30 of the top crypto wallets created the Wallet Alliance. Sino-Global will join a Bitcoin mining machine joint-venture to work on the design of mining machine ‘Thor.’. The Cryptoverse with Busta Rhymes highlighted the problems with centralization. North Korea has been conducting spear-phishing operations on the crypto industry. While Compound Finance was facing more problems when USD 65m of COMP was dripped in the contract plagued with a bug, Sino-Global will enter a Bitcoin mining machine joint-venture with Highsharp to work on the a centralization.project funds and USD 2.9m”>Busta Rhymes centralized-system.
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