News Analysis, Feature Controversies, job cuts, too many lobbyists. Rather a lot occurred regardless of a comparatively quiet week on the markets.
Following final week’s tariff-caused drama, this was a comparatively quiet week in crypto. Bitcoin remained steady round $84k. The CoinDesk 20, which tracks about 80% of the market, was up about 4% within the final seven days — i.e. nothing historic.
Still, a lot occurred. On Tuesday, a lot of crypto went offline because of a tech issue at AWS, displaying how the decentralized financial system isn’t all the time that decentralized. Shaurya Malwa reported the information early. Bitcoin and different main cryptos slipped on unhealthy information for Nvidia, Omkar Godbole reported.
Mantra, a challenge targeted on actual world belongings, misplaced 90% of its worth. Explanations varied (the corporate stated it was on account of “force liquidations” exchanges).
Meanwhile, EigenLayer, a restaking chief, rolled out a “slashing” feature meant to handle safety issues (Sam Kessler reported). OKX, a serious trade, introduced plans to set up in California following a $500 million settlement with the SEC over claims it operated beforehand within the U.S. with no cash transmitter license. Cheyenne Ligon had that story.
In much less excellent news, Kraken laid off “hundreds” of staff forward of an anticipated IPO. And Coinbase turned embroiled in a “front running controversy” linked to a curiously named token on its Base L2. Privacy advocates reacted with alarm to rumors that Binance was about to delist Zcash following an extended decline within the worth of privateness cash.
In D.C. information, Jesse Hamilton reported on a brand new wave of crypto lobbyists flooding the capital. Some requested if there at the moment are too many commerce teams and whether or not they actually all could possibly be efficient.
Friends With Benefits, a buzzy social membership for artistic technologists, launched a new program to construct Web3 merchandise for music, movie, publishing and different enjoyable actions. (I wrote that one.)
Of course, there was a lot occurring within the financial system and markets (Trump’s disgust for Fed chair Powell fed into the unease). But, in crypto, it was just about enterprise as regular. Fortunes gained, fortunes misplaced, fortunes deferred.
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