Bitcoin fell 10% as a new week began. That's nice.
Today’s Top Crypto News Stories
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Bitcoin Wipes Out Weekend Gains 💸
On Saturday, Bitcoin hit highs of $48,791.78
. But as a new week begins, such prices already seem like a distant memory.
The world's biggest cryptocurrency suffered a sharp sell-off heading into Monday — falling below $43,000
at one point. As a result, it looks like any return above $50,000 is going to be far from easy for bulls to achieve. Here's the latest.
El Salvador Buys the Dip 💰
As prices plunged, El Salvador President Nayib Bukele announced the country was snapping up an additional 150 BTC
, taking the country's total crypto stash to 700 BTC
. Offering "presidential advice" on Twitter, he wrote: "They can never beat you if you buy the dips."
In a swipe at critics, Bukele has also changed his social media bio to "Dictator of El Salvador." Read more.
Coinbase Signs $1.36M Govt Contract 👀
Coinbase has signed a $1.36 million
deal to provide blockchain analytics software to the U.S. federal government — its biggest such contract yet. The agreement has led to fierce criticism among some members of the crypto world.
One wrote on Twitter: "Strange that they would risk so much reputationally for such a relatively small sum." Check out our full story.
Full Ban on Stablecoins 'Would Be Sad' 😞
FTX CEO Sam Bankman-Fried has said an outright ban on stablecoins in the U.S. would be "sad" — and affect the usability of crypto platforms. Speaking to Bloomberg, he also admitted that Solana’s high-profile outage last week was "frustrating."
It comes as Washington weighs up its options when it comes to cracking down on stablecoins. What could happen.
Everything Else That You May Have Missed...
The DeFi news...
Yet Another DeFi Hack — pNetwork Loses 277 BTC Over Protocol Bug
Yes, there was another DeFi hack. Are we getting tired of them yet? Read here
to see how much the protocol is offering as a reward for returning the funds.
Sushi Loses Its Head Chef— 0xMaki Steps Down
While 0xMaki was just the unofficial project lead, the co-founder led the DEX into the top charts
after founder Chef Nomi took off with $14 million. 0xMaki will stay on as an advisor.
The NFT news...
Fortune Donates NFT Profits to Free Journalism Foundations
Isn't that nice. After making a "fortune" from their NFT cover with digital artist pplpleasr, the magazine and the artist herself teamed up
to donate 214.55 ETH to free press journalist orgs all over the world.
Emblem Vault Becomes Second-Largest Project by Sales Volume
These NFTs made $5 million
over just one day this weekend.
The play-to-earn news...What Are the Latest P2E Games?
CoinMarketCap Academy has a list
of some of the top play-to-earn games out there right now. (BTW this isn't an endorsement!).