Position wipe, FTX restart, fund freeze and 20 crypto jokes
This week in crypto: a Bitcoin rally pushed the price into the mid-$30,000s and wiped out millions worth of short positions, Shiba Inu had a higher market cap than Tron, and Dogecoin also pumped, while a movie chronicled the life of Kabosu, Shiba Inu featured in the famous Doge meme. Mike Novogratz advised investors to long Bitcoin and Ethereum as “clearest trades”, 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 lower “selling pressure” on BTC, and Ethereum L2 solution dedicated to AI development CryptoGPT raised $10 million at a value of $250 million.
Twitter and eToro teamed up to allow social media users to buy and sell crypto and other financial assets, MetaMask added a new feature that allows users to buy crypto with fiat directly from the Portfolio Dapp, and El Salvador issued a historic first digital asset license to Bitfinex exchange. While the billionaire Winklevoss twins invested $100 million in the Gemini crypto platform, little-known FTX co-founder Gary Wang cooperated with prosecutors after pleading guilty to fraud in December, and FTX considered restarting the platform when it recovered 7, $3 billion in assets.
MiCA is expected to be debated in the European Parliament and get a final vote next week, Russian politicians will debate a long-awaited crypto-regulation bill before the end of the current parliamentary session, and the G7 aims to help developing countries in the introduction of CBDCs that comply with international standards . More than 420,000 merchants in Changsha now accept payments in the digital yuan, and in Hong Kong, the finance chief is pushing for Web3 adoption despite market volatility.
Meanwhile, South Korean prosecutors want to freeze crypto holdings and cash belonging to Terra founder Do Kwon, and legal experts are unsure whether Terra’s “victims” will ever be able to recover their money with $37 billion now “missing.” While this was happening, Bitmain was facing a nearly $4 million fine for unpaid taxes in Beijing.
Yearn Finance dropped around $11 million in crypto in an attack, SushiSwap suffered more than $3.3 million in losses after a hacker exploited a flaw in a smart contract, and Tether blacklisted a validator address responsible for draining $25 million dollars from MEV robots. The $178 million Brazilian ‘crypto fraud ring’ fled the country just before police launched an investigation into it, and a couple in South Korea confirmed they gave money to the suspected killer of a 48-year-old woman.
Weekly news roundup complete. Let the jokes begin!
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Good morning, CT.
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What’s on your mind, CT?
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Let’s check how the BTC price action looked this week compared to a previous period.
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See what happens to your head when you sell at the bottom?
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It could. It just can. It may.
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A puzzle well solved.
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Classic 2018!
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What is that word you said? G-ga–?
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How did the butt hold go?
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Don’t see what’s so funny.
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This is just in. The moon. (I look like myself.)
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We will? Are you, punk?
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So they are doing well at the moment, when you think about it….
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What did we say about panic sales?! It is harmful.
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This could be you one day, children.
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“Yes, hedgehogs, monkeys, yes…”
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‘Soon’ is relative. Soon it may be a little later.
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A new feature.
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It was love at first sight.
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And a smile appears of its own accord.
