MELEGA

<p>Welcome to another version of MelegaSwap&#39;s weekly crypto news summary. This week, from May 14th to May 20th, 2023, get ready for an exciting series of news in the crypto market.</p><p>The G7 expresses support for CBDCs, stating that they could improve financial inclusion and efficiency. Hardware wallet provider Ledger is under fire for allegedly having access to users&#39; secret phrases, raising concerns about the security of hardware wallets. In the SEC v. Ripple case, a judge has denied the SEC&#39;s motion to seal communications between former SEC official William Hinman and former Ripple executives, which could help Ripple win its case.</p><p>However, creditors of BlockFi have filed a lawsuit against the company, alleging bad management and misleading statements to investors. The NFT marketplace, DIBA, has gone live, using &#34;really good for Bitcoin&#34; smart contracts to power its NFTs. Ripple has launched RippleNet CBDC, a platform for governments and financial institutions to develop interoperable CBDCs.</p><p>So buckle up and get ready to explore the depths of this ever-changing landscape with us. Let&#39;s dive in and discover what the world of crypto has in store for us!</p><h2 id="header-0">TOP 10 CRYPTO STORIES THIS WEEK (May 14–May 20, 2023)</h2><ul><li>G7 pushes for approval of central bank digital currencies (CBDCs)</li><li>Ledger hardware wallet provider under fire for allegedly having access to users&#39; secret phrase</li><li>Judge in SEC v Ripple denies motion to seal Hinman communications</li><li>Creditors of BlockFi alleged the crypto lender was a victim of poor management.</li><li>DIBA Takes the NFT World by Storm with Its Launch on &#39;Really Good for Bitcoin&#39; Smart Contracts</li><li>Ripple Unveils Revolutionary CBDC Platform for Governments and Financial Institutions</li></ul><h3 id="g7-pushes-for-approval-of-central-bank-digital-currencies-cbdcs">G7 pushes for approval of central bank digital currencies (CBDCs)</h3><p>The G7 countries, led by Japan&#39;s top financial diplomat, Masato Kanda, plan to collaborate on introducing compliant central bank digital currencies (CBDCs) in developing nations. The CBDC will be a priority during this year&#39;s G7 Summit, which aims to progress crypto policy debates and define global standards for implementation.</p><p>In the <a href="https://www.consilium.europa.eu//media/64307/g7-communique-20230513.pdf" rel="noopener noreferrer nofollow">14-page document</a>, the G7 acknowledges the existence of downsides, including potential threats to the stability, resilience, and integrity of the monetary and financial systems.</p><p>Meanwhile, China has already led the way in CBDC development, and at least 114 countries are investigating CBDCs, according to the Atlantic Council.</p><h3 id="ledger-hardware-wallet-provider-under-fire-for-allegedly-having-access-to-users-39-secret-phrase">Ledger hardware wallet provider under fire for allegedly having access to users&#39; secret phrase</h3><p>Ledger has l<a href="https://twitter.com/Ledger/status/1658458714771169282?s&#61;20" rel="noopener noreferrer nofollow">aunched Ledger Recover</a>, a service that enables users to store their seed phrases with the company for an extra layer of security, but the crypto community has responded negatively.</p><p>Many, including top executives in the crypto space, see it as risky to store seed phrases with a third party, and some have criticized Ledger for charging a $30 fee for the service. The service&#39;s popularity remains uncertain due to the negative reaction.</p><h3 id="judge-in-sec-v-ripple-denies-motion-to-seal-hinman-communications">Judge in SEC v Ripple denies motion to seal Hinman communications</h3><p>A federal judge has denied the SEC&#39;s motion to seal documents related to a speech by former SEC official Bill Hinman in 2018, which could shed new light on the SEC&#39;s lawsuit against Ripple. The SEC argued that the documents were protected by attorney-client privilege, but the judge ruled they were not privileged because they were not created while providing legal advice.</p><p>This ruling could potentially weaken the SEC&#39;s case against Ripple, as it suggests that the agency may have overstepped its bounds in pursuing certain documents. While it remains to be seen how this will impact the overall outcome of the lawsuit, <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">Ripple&#39;s XRP</a> rallied by 10.04% in just seven days.</p><h3 id="creditors-of-blockfi-alleged-the-crypto-lender-was-a-victim-of-poor-management">Creditors of BlockFi alleged the crypto lender was a victim of poor management.</h3><p>BlockFi&#39;s creditors <a href="https://markets.businessinsider.com/news/currencies/blockfi-creditors-say-crypto-lender-was-a-victim-of-bad-management-1032330183" rel="noopener noreferrer nofollow">are accusing</a> its management of poor decision-making, which they allege led to the company&#39;s bankruptcy. The company converted $240 million in crypto into fiat after the FTX collapse, causing significant losses, and spent $22.5 million of customer funds on a $30 million insurance policy for its directors and officers.</p><p>Moreover, the creditors&#39; filing is the latest development in a growing battle between BlockFi and its creditors. The outcome of this case could have significant implications for the future of the crypto lending industry.</p><h3 id="diba-takes-the-nft-world-by-storm-with-its-launch-on-39-really-good-for-bitcoin-39-smart-contracts">DIBA Takes the NFT World by Storm with Its Launch on &#39;Really Good for Bitcoin&#39; Smart Contracts</h3><p>DIBA, a new marketplace for Bitcoin-based NFTs, <a href="https://www.coindesk.com/tech/2023/05/19/nft-marketplace-diba-goes-live-on-really-good-for-bitcoin-smart-contracts/" rel="noopener noreferrer nofollow">went live</a> on the 18th of May. The marketplace uses &#34;<a href="https://thebitcoinmanual.com/blockchain/rgb-chain/" rel="noopener noreferrer nofollow">Really Good for Bitcoin&#34; (RGB) smart contracts</a>, which are built on layer 2 networks like the Lightning Network. This allows the issuance of tokens on Bitcoin to be cheaper and more private, making it easier for people to process anonymous transactions with minor fees.</p><p>DIBA also unleashed a Bitcoin-only wallet, which can store music files and art, in partnership with crypto miner Hut 8 Mining (HUT).</p><h3 id="ripple-unveils-revolutionary-cbdc-platform-for-governments-and-financial-institutions">Ripple Unveils Revolutionary CBDC Platform for Governments and Financial Institutions</h3><p>Ripple<a href="https://www.businesswire.com/news/home/20230518005115/en/Ripple-Launches-CBDC-Platform-for-the-Development-of-CBDCs-and-Stablecoins" rel="noopener noreferrer nofollow"> has launched</a> a central bank digital currency (CBDC) platform, which enables central banks and financial institutions to create digital currencies. The platform is based on Ripple&#39;s Private Ledger technology and offers frictionless end-to-end solutions, improving the user experience and reducing risk.</p><p>The launch of the Ripple CBDC Platform is a significant development in the central bank digital currency domain, as the platform delivers a valuable tool for central banks and governments that are looking to issue their own digital currencies.</p><h2 id="header-1">NEW LISTINGS ON MELEGASWAP</h2><h3 id="bibi-bibi">BIBI (BIBI)</h3><p><a href="https://bibibsc.app/" rel="noopener noreferrer nofollow">BIBI</a> is a completely useless and entertaining coin with no taxes or bullshit. It offers the hottest decentralized zero-tax meme coin on the BNB Chain network.</p><h3 id="meme-meme">MEME (MEME)</h3><p>When you&#39;re upset, there&#39;s a meme, and the meme is here for you. With its cheerful demeanor, the meme will blow you to the moon with Elon Musk. Stop visiting the doctor while having the meme. If your spouse is giving you trouble, watch Meme, and when you are constipated, meet Meme. If you don&#39;t know where you are going in life, watch Meme. If you want to be rich, buy the <a href="https://meme.bio/" rel="noopener noreferrer nofollow">Meme (MEME) token</a>.</p><h3 id="4realza-coin">4REALZA COIN</h3><p>Almost all crypto projects start at the bottom with no real backing and support. 90% of cryptos will not survive a market crash. <a href="https://www.4realza.cloud/" rel="noopener noreferrer nofollow">4REALZA COIN</a> aims to curve this. 4REALZA COIN is a deflationary coin designed to support newly launched crypto projects in being successful.</p><h3 id="mongbnb-mongbnb">MongBNB (MONGBNB)</h3><p>The <a href="https://linktr.ee/mongbnb" rel="noopener noreferrer nofollow">MongBNB coin</a> was born to match the goals of the original Mong on ETH, BSC community aligned with Mong Culture will help grow the Mong community and achieve all the goals. Friendship, degenerate meme culture, and good vibes.</p><h2 id="header-2">•••</h2><p><em><strong>Risk warning: </strong>Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.</em></p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/29701b7cb01542feaef7d0b835ffb267.png" /><p></p><h2 id="header-3">Trade with the best decentralized AMM cryptocurrency exchange</h2><p><em>Do you want to buy, sell, and invest in cryptocurrencies and still have 100% control over your crypto assets? If yes, then Melega Finance is for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that provides users with a variety of options to trade and earn free tokens at extraordinarily high-interest rates and low charges.</em></p><p><em>At Melega, nobody manages your funds for you because you manage them directly from your personal wallet, while smart contracts transparently take care of everything else.</em></p><p><strong>Learn More About the Melega Ecosystem</strong></p><p>Website: <a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow">https://melegaswap.finance</a></p><p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p><p>Twitter: <a href="https://twitter.com/meleganza" rel="noopener noreferrer nofollow">https://twitter.com/meleganza</a></p><p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p><p>YouTube:<a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow"> Melega Finance Official</a></p><p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p><p>META DESCRIPTION: What happened in crypto last week? (May 14th to May 20th, 2023). G7 backs CBDCs, Ledger under fire, BlockFi faces more allegations, and more</p>

May 14-20, 2023 Top Crypto Roundup: G7 backs CBDCs, Ledger under fire, BlockFi faces more allegations, and more

Table of Contents

MelegaSwap

Other articles published on May 21, 2023

Shido launching Shido Dex & Wallet coming week!

President Biden Rejects Debt Deal Protecting Crypto Traders

Analyzing MiCA’s Role in Shaping Global Crypto Regulation

XRP Explodes 9% Weekly but Is a Correction Imminent? (Ripple Price Analysis)

MetaMask revamps terms of use to include a vital tax update

Combatting Plastic Pollution: A Guide to Protect Our Planet

Join our free newsletter for daily crypto updates!