Test

Tornado Cash

Standard

Tornado

Chainlink

<p>Between revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground for regulatory and economic struggles. Here is a summary of the most significant news from the past week around Bitcoin, Ethereum, Binance, and Solana, etc.</p> 
<h3 id="h-the-spectacular-rebound-of-stablecoins-with-a-25-increase">The spectacular rebound of stablecoins with a 25% increase</h3> 
<p><a href="https://www.cointribune.com/en/crypto-a-spectacular-rebound-with-stablecoins-up-by-25/" target="_blank" rel="noreferrer noopener">Stablecoins have recently experienced a spectacular 25% increase in their market capitalization. </a>This notable increase, observed between mid-October and mid-April, reflects a massive influx of capital into cryptos. Investors use stablecoins as a safe haven during periods of volatility, which demonstrates renewed confidence in the cryptocurrency market. The recent stabilization of these assets’ capitalizations could indicate a waiting phase for investors before new significant moves.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<h3 id="h-1-bitcoin-per-day-el-salvador-s-visionary-bet-for-its-economic-future">1 Bitcoin per day: El Salvador’s visionary bet for its economic future</h3> 
<p>The Salvadoran president Nayib Bukele reaffirms his commitment to Bitcoin <a href="https://www.cointribune.com/en/1-bitcoin-per-day-el-salvadors-visionary-bet-for-its-economic-future-2/" target="_blank" rel="noreferrer noopener">by announcing that the country will continue to buy one Bitcoin per day</a> until crypto becomes unaffordable with fiat currencies. Since September 2021, El Salvador has adopted Bitcoin as legal tender and launched a daily purchase program in November 2022 to build long-term reserves. Currently, El Salvador holds 5,748 BTC, representing over $360 million, with a gain of $57 million. The government has also set up a cold wallet to secure these holdings. This ambitious strategy reflects El Salvador’s confidence in Bitcoin’s economic potential, despite a still limited adoption among the population.</p> 
<h3 id="h-chainlink-revolutionizes-fund-tokenization-with-the-support-of-major-banks">Chainlink revolutionizes fund tokenization with the support of major banks</h3> 
<p>The Depository Trust and Clearing Corporation (DTCC) successfully conducted a pilot project on fund tokenization in collaboration with Chainlink and several major US banks, including JPMorgan and BNY Mellon. The project, named Smart NAV, <a href="https://www.cointribune.com/en/this-chainlink-innovation-could-disrupt-the-financial-assets-market/" target="_blank" rel="noreferrer noopener">aims to standardize and accelerate the tokenization of traditional assets using Chainlink’s Cross-Chain Interoperability Protocol (CCIP)</a> to integrate net asset value (NAV) data across various blockchains. This initiative promises to transform fund management and improve financial transaction efficiency through smooth and secure data integration.</p> 
<h3 id="h-5-years-in-prison-for-the-tornado-cash-developer">5 Years in Prison for the Tornado Cash Developer</h3> 
<p>Alexey Pertsev, the developer of the Tornado Cash protocol, was sentenced to 5 years and 4 months in prison by a Dutch court for facilitating the laundering of $1.2 billion through his application. <a href="https://www.cointribune.com/en/crypto-5-years-in-prison-for-developing-an-application/" target="_blank" rel="noreferrer noopener">This highly controversial decision penalizes Pertsev for allowing the malicious use of his open-source code for illicit activities</a>, although Tornado Cash is a non-custodial application without direct control over the funds. This verdict raises questions about the responsibility of decentralized application developers and the implications for the future of crypto anonymization tools.</p> 
<h3 id="h-crypto-the-revolutionary-test-between-mastercard-and-standard-chartered"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b3.png" alt="💳" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto: The Revolutionary Test Between Mastercard and Standard Chartered</h3> 
<p>Mastercard and Standard Chartered have successfully conducted the first live test of the Multi-Token Network (MTN), carried out as part of the Fintech Supervisory Sandbox of the Hong Kong Monetary Authority (HKMA). <a href="https://www.cointribune.com/en/crypto-the-game-changer-test-between-mastercard-and-standard-chartered/" target="_blank" rel="noreferrer noopener">This test focused on the tokenization of carbon credits, using atomic swaps to ensure simultaneous and irreversible transactions. </a>This initiative demonstrates the potential of tokenization to improve the flexibility and security of financial transactions. Mastercard and Standard Chartered thus demonstrate their role as pioneers in integrating blockchain technologies into the financial sector.</p> 
<div class="affiliate-button"> <span class="affiliate-button__link obfuscated-link" data-href="https://www.cointribune.com/en/newsletters-en/" data-target="_blank" data-rel="noreferrer noopener">Discover our newsletter</span> <span class="affiliate-button__disclaimer obfuscated-link" data-href="https://www.cointribune.com/en/sponsored-content/" data-target="_blank" data-rel="noreferrer noopener">This link uses an affiliate program.</span> 
</div>

Bitcoin, Binance, Ethereum, Solana, and Ripple: The biggest crypto news of the past week

Table of Contents

Cointribune EN

Other articles published on May 20, 2024

Crypto Market Rallies As SEC Reportedly Moves Forward With Ether ETF Process

Crypto Exchange Millionero Shares the Origins of its Name

Ethereum (ETH) Up To $4000: Can ETH Break Out From The 3K Levels?

Experts Predict Weak Futures-Spot Correlation Cloud Spot Ethereum ETFs Approval

Shiba Inu: 58 Trillion SHIB Sparks Bull-Bear Faceoff

Judge Rules Craig Wright Guilty of Forgery in Satoshi Claims

Join our free newsletter for daily crypto updates!