From XRP pumping on fake ETF filing to Tether betting big on Bitcoin mining, here is a 4-minute breakdown of everything important that happened in crypto last week.
The crypto world was a real snoozefest this week after the SBF trial wrapped. With ETF hype growing stale, prices flatlined without a major catalyst to get hearts pumping again.
But just because the charts were stuck in slumber mode doesn't mean key shifts weren't happening behind the scenes. There are still crucial crypto developments to catch up on, even as the market catches some Zzzs.
Let’s quickly summarize the top headlines in mining, regulations, adoption, and more before diving into the nitty-gritty details:
- Fake XRP ETF rumor triggers a pump - but no actual filing 📈
- A pension fund bet big on Coinbase stock 📈
- Australian tax authority targets DeFi gains with expanded rules 🫠
- Bitcoin miners celebrating as revenue hits 2023 highs - mining hype is back! 📈
- Tether's going all in on mining Bitcoin now ⛏️
- JPMorgan and Apollo embrace crypto 💸
- Major German bank gets crypto custody license 🏦
- Disney enters the NFT space with a collectible character platform 🔔
- Solana defends phone vulnerability claims 📱
Let’s dive in!
Fake XRP ETF Filing 📈
People are hungry for big Wall Street money to join crypto. Scammers easily profit off that hype with stunts like this.
Pension Fund Buys Coinbase Stock 📈
Pension funds are normally wary of risky bets like crypto. But this shows perceptions slowly changing as digital assets mature.
Taxman Cometh for DeFi 🫠
While it provides clarity, the aggressive rules could hinder local crypto innovation. With a laid-back lifestyle, Australia was a natural fit for crypto to thrive. But the tax crackdown casts a cloud over future growth.
Bitcoin Mining Revenue Yearly High 📈
Of course, the SEC hasn’t exactly been eager to approve ETFs before. But crypto lovers remain hopeful. Find more details here!
Tether’s Bitcoin Mining Expansion ⛏️
Tether is tapping debt financing and partnerships to quickly scale up operations in Latin America and beyond. Makes sense to diversify away from just issuing stablecoins. But some may question if stablecoin issuers should become miners. Consolidation of power always raises uneasy questions in crypto's decentralized ethos.
JPMorgan and Apollo Embrace Crypto 💸
Major German Bank Gets Crypto Custody 🏦
Disney's NFT Adventure 🔔
Disney's dipping its toes into blockchain after ditching metaverse plans. The company's no stranger to profiting off its vast catalog of icons.
Solana Defends Phone Vulnerability Claims 📱
And that wraps up a slow week in crypto. Here's hoping for more action next time!