Crypto Currency Hodler’s Digest on May 29 to June 4: Comes every Saturday, Hitler’s Digest Help keep track of every important news that has happened this week. Best (and worst) quotes, adoption and regulation highlights, leading currencies, predictions, and more – all in one week in Cointelegraph.
Crypto Currency Hodler’s Digest on May 29 to June 4 Top Stories of the Week
The anonymous hacker was issued a restraining order by the NFT
For the first time in a career, an anonymous defendant in an exchange-hacking legal case has obtained a temporary restraining order through the NFT. Defendant January 2022 is part of the legal proceedings surrounding the LCX transfer hack. Two law firms issued a “service token” NFT as a restraining order, making the event the first official NFT application in the legal world.
FTX will not disable hiring amid layoffs at other crypto companies, the CEO says
When the crypto bear market was under pressure, some industry players chose to reevaluate the number of employees, but not FTX. According to CEO Sam Bassman-Freight, the exchange of derivatives will continue to add employees. In contrast, in recent weeks Gemini has been reducing the number of its employees and restricting Coinbase from hiring new employees. However, the last major cryptocurrency market of 2018 was bad in terms of staff cuts.
Lummis-Gillibrand bill establishes SEC-CFTC power balance in crypto markets
The new bill, by U.S. senators Kirsten Gillibrand and Cynthia Loomis, is subject to appropriate approval, with the crypto industry operating at various levels under the shared supervision of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission. “Understanding that most digital assets are more similar to commodities than securities, the bill gives CFTC clear authority over applicable digital asset spot markets,” the government statement explains. However, later Opinions of two senators This view seems to contradict most when looking at Lumis and Gillibrand Altcoins mostly as securities.
Despite the Altcoin blood bath, Metaverse tokens increase by 400% per year
Despite the overall cryptocurrency price slump in terms of activity, Metaverse-related assets have increased by an average of 400% compared to May 2021, according to a Kraken intelligence report. Despite year-on-year gains, Metawares assets have seen a significant drop in prices over the past 30 days (according to Kraken’s May report). Over the past 30 and 90 days, all crypto-asset sectors valued by Kraken have seen declines in prices. Until 2022, NFT and blockchain-powered metal wares games continued to see participation.
PayPal allows you to convert digital currencies to external wallets
In late 2020, PayPal’s operating system welcomed the buying and selling of crypto, but that experience was limited to the operating system. Now, PayPal is in the process of allowing specific crypto assets to be transferred to and from its site, usually with a one-time verification of identity pending. PayPal, armed with the New York BitLire, has opened the feature to some customers but aims to expand its availability in the coming weeks.
Winners and losers
Over the weekend, Bitcoin (BTC) Is on $ 29,066Ether (ETH) At $ 1,682 And XRP At $ 0.38. The total market capitalization is $ 1.18 Trillion, According to To CoinMarketCap.
Of the 100 largest cryptocurrencies, the first three Altcoin gains of the week were helium. (HINT) 35.12%, chainlink (LINK) 22.63% and UNUS SED LEO (LEO) 12.29%.
The first three Altcoin losers of the week were Elron (EGLD) At -25.25%, waves (Waves) -at 25.02%, and accumulated funds (CVX) -at 24.90%.
For more information on crypto prices, read on Market analysis of Cointelegraph.
“I thought [Anchor Protocol] It was collapsing from the beginning (I designed it), but it collapsed 100%.
Mr. BAnchor protocol developer
“The idea of absolute fixed money is something we have never seen in history.”
Ali HammamChief Marketing Officer and co-founder of Tahini
“The approach is very simple: we are not going to ignore [the crypto] Market. We want to get the most out of the innovative energy these technologies give us.
Kalman BirmadovChairman of the National Bank of Kazakhstan
“For wealth management companies, digital assets are worth $ 54 billion – most ignore.”
“[Myself and my wife] Believe that children need to learn the things they need in the future, rather than what we think is needed now.
MarcinAmelia’s father (creator of Amy’s Cats NFT Collection)
“What is unbelievable about crypto is that it has the potential to decentralize power and create struggling economies.”
Nicky ForbVenture partner in the headline
Forecast for the week
Analyst says Sailor is betting on $ 1M BTC that Bitcoin will end 2022 ‘flat, maybe above’
According to Cointelegraph’s BTC price index, the price of Bitcoin is trading mostly sideways this week, ranging from $ 29,000 to $ 32,000.
As a historically elegant figure in the crypto space, Fundstrat co-founder Thomas Lee spoke with less enthusiasm about the price of bitcoin, seeing the possibility of a latex move closing in 2022, yet he has opened the door to go “probably ahead”.
Meanwhile, Michael Sailor, the ever-bullish CEO of MicroStrategy, eventually sees BTC as $ 0 or $ 1 million at all or nothing at all. However, he thinks BTC has already counted $ 0 as a result, so his $ 1 million expectation is on the table.
FUD of the week
Lithuania aims to tighten crypto regulation and ban anonymous accounts
Additional crypto regulatory requirements approved by the government may come into force in Lithuania, with parliamentary action pending. Among other things, requirements include blocking anonymous crypto accounts. The rationale behind the move is to reduce money laundering and prevent the Russian elite from avoiding sanctions. The new rules will take effect in early 2023.
Blockchain-based Move-to-Earn app STEPN under DDoS attacks after upgrade
STEPN, a crypto project game that rewards users for physical activity, recently added a mechanism called STEPN’s Model for Anti-Cheating (SMAC) to its platform. The upgrade is aimed at reducing cheating in the game. However, there were several difficulties after the upgrade, including service denial (DDoS) attacks. The program aims to repair its servers within a specified time frame, however the self-imposed deadline has passed without any notice.
Bad day for Binance with the SEC investigation and Reuters exposure
Binance is subject to investigation by the US Securities and Exchange Commission. Study questions have been raised as to whether the initial currency of the 2017 BNP asset of the exchange was in line with regulatory standards.
A Reuters article states that between 2017 and 2021 a significant amount of funds were linked to bad practices filtered through Binance’s site. Binance’s spokesman denied the allegations in the article. Binance further denied a request Extensive blog post.
Excellent Cointelegraph Features
Thailand’s Crypto Islands: Working in Heaven, Part 1
An increasing number of crypto digital nomads are moving to live and work on tropical islands such as Thailand’s Ko Fa-ngan. Maybe you should join them.
Life after the crime: What happens to crypto captured during a criminal investigation?
Like any property, law enforcement has the right to sell your coins and spend money.
Crypto 401 (k): Good financial planning or gambling with the future?
Cryptocurrencies may come to American pension plans. Some see this as a good financial strategy, while others are skeptical.