This week, the crypto world witnessed Ledger introducing a new wallet recovery service, causing quite a commotion among crypto enthusiasts. Despite its potential utility, Ledger’s latest move was met with mixed feelings from the community.
As the demand for ETH staking continued to soar even with a nearly month-long waiting period, Litecoin’s halving event drew attention to its future price predictions. In the meantime, Tether decided to invest 15% of its net profits into Bitcoin to strengthen its reserves, further supporting the belief in the world’s leading cryptocurrency.
If that wasn’t enough, Samsung and the Bank of Korea announced their partnership to research CBDCs that could enable offline transactions. As China’s state-owned enterprise, Greenland, expressed interest in joining Hong Kong’s digital asset hub, Ripple’s $250 million acquisition of Metaco indicated further expansion into tokenized assets.
Interestingly, a Berenberg analyst argued that MicroStrategy might be a safer bet compared to Coinbase due to the latter’s regulatory issues. Additionally, a Uniswap survey found that DeFi needs to become more straightforward for more widespread adoption.
In the augmented and virtual reality space, Meta and BMW revealed the progress they’ve made in researching AR and VR experiences for passenger seats. At the same time, Coinbase CEO’s startup, NewLimit, managed to raise $40 million to extend human lifespan.
Despite Binance CEO CZ unfollowing the controversial Elon Musk on Twitter, the $500 million investment in Binance remained unshaken. In regulation news, the EU officially approved the much-awaited MiCA crypto regulation rules, while the UK Treasury Select Committee suggested that the country should treat crypto trading like gambling.
The Pakistan Finance Minister stated that the country would not legalize crypto trading, citing FATF regulations. South Korean lawmakers might soon be “obliged” to declare their crypto holdings as universities in China adopt the digital yuan, in line with the country’s plans to train half a million new blockchain “experts.”
Heading to the United States, the SEC deemed Filecoin as a security and argued that existing rules could regulate crypto. Crypto firms started moving to Bermuda due to regulatory concerns, and lawmakers coined a new term, “investment contract asset,” while introducing a new law.
In legal matters, Voyager Digital won court approval to self-liquidate assets and repay customers some of their frozen funds. At the same time, Citadel Securities sued two former employees who left to form a crypto market-making firm. On a high note, LayerZero Labs announced a record-high $15 million bug bounty in collaboration with Immunefi.
While the crypto world’s every move sparks animated discussions, it’s crucial to stay informed and base our decisions on the available facts. As always, the future holds exciting new developments, and we’ll be at the forefront of reporting them.
Source: Cryptonews
