20/02/2023
1/7
Crypto is getting exciting again. Last week we could witness a very volatile market on top of many exciting news and developments in the Web3 space. Let’s review them in the thread below.
is currently consolidating at the critical $25,000 level, whereas altcoins like $CFX (+277%), $FIL (+65%) or KLAY (+48%) posted impressive gains.
2/7
US agencies apply a lot of pressure on right now. The $30m Kraken settlement has just been the beginning. Last week had to stop issuing $BUSD after an NYDFS announcement.
https://edition.cnn.com/2023/02/14/investing/paxos-binance-busd-halt-order-us-intl-hnk/index.html
3/7
Also, itself has become a target and might need to pay a settlement under the order of US regulators. In consequence, Binance is thinking about cutting ties with US-based projects.
https://www.coindesk.com/policy/2023/02/16/binance-bracing-itself-for-fines-from-us-regulators-to-settle-past-conduct-wsj/
4/7
Last but not least, the SEC charged founder Do Kwon with fraud, claiming that he misled investors about the stability of $UST.
https://edition.cnn.com/2023/02/16/investing/sec-charges-do-kwon/index.html
5/7
Regarding trading volume, the number one marketplace got dethroned by its competitor . Also, the airdrop of $BLUR (now at a $3.9B valuation) made headlines, making many traders rich.
https://decrypt.co/121638/opensea-drops-fees-royalty-protections-blur-rises
6/7
’s protocol fell victim to an $8.5M hack on Thursday but was able to retrieve $2.5M thanks to a “counter exploit”.
https://blockworks.co/news/counterexploit-salvages-stolen-funds
7/7
That’s a wrap for this week!
Come join our socials at...
https://discord.gg/bdfkrYUf
New York's top financial regulator has ordered a crypto company to stop minting a major stablecoin, widening a clampdown on the embattled digital assets sector.
