Bitcoin is struggling to regain bullish momentum, while Ethereum is being attacked for high gas fees. And if that wasn't enough, adverts for altcoins are coming under fresh scrutiny.
The biggest, best crypto news ever
But first — subscribe to our newsletter here.
Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts
Why return to $60,000 is crucial for BTC 👀
Bitcoin's woes are showing no signs of subsiding, with the world's biggest cryptocurrency dipping to fresh lows of $55,632.76. Analysts are now adamant that Bitcoin needs to recapture $60,000 for the next leg of any bull run to continue. Such a milestone may be easier said than done given how BTC violently rejected at this level on Monday. On Crypto Twitter, the narrative indicates that the bull run is lengthening, meaning that a "blow off top" may not occur until 2022. The latest.
Another NFL star gets salary in Bitcoin 🔥
Odell Beckham Jr has become the latest NFL star to announce that he's going to get paid in Bitcoin. The Los Angeles Rams wide receiver has entered into a partnership with Cash App that'll mean his $4.25 million salary is converted into the digital asset. To celebrate the new partnership, Beckham Jr has also launched a $1 million BTC giveaway on Twitter. For a chance to win a share of the crypto, users need to reply to his post with their $cashtag and the hashtag #OBJBTC. Our article.
Ethereum attacked over high gas fees 🤬
Ethereum is coming under fresh criticism for exorbitant gas fees. Zhu Su, the CEO of Three Arrows Capital, wrote a heated post on Twitter over the weekend in which he declared he has "abandoned Ethereum" because newcomers can't afford to use it. He went on to claim that Ethereum's founders "are already far too rich to remember what they originally set out to do." Zhu later apologized for using heated language in his Twitter thread. What's going on with Ethereum right now?
Briton faces extradition over BTC theft 😱
A British man who allegedly helped to steal an American citizen's identity and steal 108 BTC is facing extradition to the U.S. Corey De Rose was 18 at the time of the incident in 2017 — and at current rates, the stolen cryptocurrency would be worth $6 million. Now 22, he was allegedly part of a team of hackers called "The Community," and it's claimed that more than $50 million in crypto was stolen through SIM swaps. His lawyers want him to be tried on U.K. soil. Find out more about the case.
U.K. issues 'red alert' over crypto scams 🚨
A British regulator has declared that cryptocurrency adverts are a "red alert" issue. The Advertising Standards Regulator has now laid out a tougher set of rules that businesses must follow to protect investors. Falling foul of these measures could result in ads being banned altogether. According to The Drum, the ASA is concerned some crypto ads trivialize investing potentially life-changing sums of money. Our story.