Weekly Top Crypto News (March 13 – March 19)
A flourishing week for the crypto market after the US banking crisis. The bulls are in full swing as Bitcoin has hit a new high after 9 months of volatility. Here, let’s review this week’s top crypto news with Coincu!
The FBI Is Hunting For A Vietnamese Man Who Is Suspected Of Laundering $3 Billion In Bitcoin
On March 14, the FBI filed an arrest warrant for Nguyen Minh Quoc on money laundering and identity theft offenses. The entire value of the seized assets was over $3 billion, which included 1,909.4 Bitcoins.
Binance To Allow ETH 2.0 Staking Withdrawals After Shapella Upgrade
Binance announced that it would enable ETH 2.0 staking withdrawals owing to the impending Ethereum Shanghai and Capella upgrades. When the feature is available, users engaging in ETH 2.0 staking may trade BETH for ETH at a 1:1 ratio on the Binance ETH 2.0 staking website. Users may continue participating in Binance ETH 2.0 staking and collecting BETH rewards after the Shapella update.
Layer 2 Arbitrum Finally Airdrops ARB Token Long Eager By The Community
Arbitrum finally airdrops a token. The airdrop will account for 12.75% of the token’s total supply, and tokens will be distributed to people who have utilized the network in the previous year. After the changeover, the layer 2 network will be governed by a self-executing DAO.
Euler Hackers Refund And 3,000 ETH Returned
Euler Finance attackers are reported to be returning the money they stole. So far, 3000ETH has been returned. Previously Euler hackers were awarded about $20 million, leaving 90% of the stolen funds without liability.
Ethereum Layer 2 has seen a surge in locked positions, reaching a total of $7 billion. The top five platforms with the highest locked positions are ArbitrumOne, Optimism, ImmutableX, dYdX, and Metis Andromeda.
Ethereum Layer 2 Locks Surge to $7B, Boosting Investor Confidence
SHIB 10% Off Between FUD Shibarium Detected Copy Code
The Shiba Inu (SHIB) token suddenly dropped nearly 10% after its upcoming layer-2 was accused of copying Rinia’s code but forgetting to rename Chain ID. The long-awaited Layer-2 Shibarium community has scheduled a beta release this week to take advantage of the Layer-2 craze. Shiba Inu’s team and some active community members have denied the above information.
Filecoin Expands Web3 Data Economic Potential With FVM
Filecoin is preparing to launch its own FVM virtual machine, which will enable other decentralized apps to be developed on top of it. FVM is supposed to assist the blockchain in attracting new ideas and enabling token trade. The virtual machine does not directly interact with the data stored on the network; nonetheless, it may govern where and how data is stored, updated, and preserved.
TrueUSD (TUSD) Moves $1 Billion Reserves To Bahamas Due To US Banking Crisis
TrueUSD (TUSD) operator Archblock has reportedly transferred $1 billion in reserves to Capital Union Bank in the Bahamas. The observed action has been going on since March 10, after its partner bank, Signature Bank, was abruptly closed. The action occurred in the context of three banks in the US in crisis and was ordered by the country’s authorities to close.
Circle Redeems $2.9B USDC And Strengthens Reserve With BNY Mellon Partnership
Circle has redeemed $2.9B and minted $0.7B in new USDC after disruptions from transaction banking partners. The firm has strengthened the USDC reserve by holding the majority at BNY Mellon, with a fund managed by BlackRock primarily invested in short-dated US Treasuries.
Polygon And Avail Split After 3 Years, Co-founder Forms A New Entity
Anurag Arjun, the co-founder of Polygon, has announced his resignation, as well as an effort to decouple the Avail project from this blockchain ecosystem. Polygon released Avail to the public in mid-2021 after launching it in late 2020. Avail says its plan is to put ownership in the hands of the community.
Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity
The Uniswap v3 implementation is now live on the BNB Chain after receiving an overwhelming endorsement from voters in February. Previously, the Wormhole multi-chain bridge was chosen as Uniswap’s authorized bridge to the BNB Chain. The extension implies that users will be able to trade and swap tokens on the network using BNB Chain’s fast speeds and cheap transaction costs.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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