Weekly Top Crypto News (May 15 – May 21)
The crypto market suffered another bleak week, with big currencies like Bitcoin and Ethereum continuing to float sideways with no discernible change. Here, let’s review this week’s top crypto news with Coincu!
Tether Uses 15% Of Its Net Realized Operating Profits To Purchase Bitcoin
Tether intends to increase its reserves with the aid of Bitcoin and shift away from government obligations issued by the United States. The company indicated that it would dedicate up to 15% of its realized revenues from investments to purchasing BTC. The stablecoin issuer will not utilize any third-party custodians and will maintain all of its Bitcoin assets in its own hands.
Lido Gives Users Withdraw stETH A Transferable NFT Like A Receipt Web3
Users who make a stETH withdrawal request on Lido Finance receive an NFT as a Web3 receipt. The special thing is that these NFTs can be traded on the secondary market and are transferable. The number of requests for withdrawal processing of the protocol is recorded at the peak of 686 requests.
CZ Unfollows Musk’s Twitter Raises Concern About $500 Million Investment
Elon Musk has been unfollowed on Twitter by Binance CEO Changpeng Zhao (CZ). Musk’s love of memes and proclivity to tweet about them has become a well-known feature of his social media presence. Looks like CZ doesn’t like Twitter getting into crypto.
Ledger Receives Strong Criticism From Community With New Function
Several crypto investors expressed their dismay on social media after Ledger released a recovery tool for their hardware crypto wallets. According to the crypto wallet, the gadget only distributes encrypted shards of customers’ seed phrases to multiple organizations if they want to utilize the recovery service.
US SEC Deems Filecoin A Security But Grayscale Disagrees
Grayscale Investments faces a dilemma with Filecoin’s security status. The SEC requested that Grayscale withdraw its registration statement for the Filecoin Trust. The uncertainty surrounding FIL’s status raises questions among investors and industry experts.
Strike Expands Bitcoin Payments To 3 Billion People In Over 65 Countries
Strike has announced that it is now accessible for download to over 3 billion people globally, with dozens of additional nations added. The company’s CEO, Jack Mallers, made the news on Friday at the Bitcoin 2023 conference in Miami Beach, Florida. Mallers said that the decision to shift its headquarters to El Salvador was made in reaction to rising anti-crypto regulatory attitudes in the United States.
Ripple Empowers Central Banks With Groundbreaking CBDC Platform
Ripple launches the CBDC platform for central banks, financial institutions, and governments to issue digital currency. Government institutions can customize the life cycle of CBDC, including minting, distribution, redemption, and token burning. Financial institutions can take part in inter-institutional settlement and distribution functions. Central banks can issue wholesale and retail CBDCs, which can make offline transactions as well. The platform is powered by the XRP ledger and is an enhanced version of Ripple’s Private Ledger.
WazirX: Binance Controls 580.78 Million WRX Tokens
WazirX revealed Binance’s connection to the exchange’s WRX token in an announcement on the exchange’s official Twitter account. Binance presently has a total of 580.78 million locked and unlocked WRX tokens, according to a series of wallet address lists given by the site.
Justin Sun Criticizes Huobi Founder’s Brother For Benefiting From Free HT Token
According to Justin Sun, Li Wei, the younger brother of Huobi founder Li Lin, should never have gotten millions of HT tokens for free, much alone profiting from them. Sun went on to say that Wei has made no contributions to the HT community. The value of HT tokens has plummeted in the last month.
Axie Infinity Game Is Now Launched On the App Store
Sky Mavis has announced that Axie Infinity: Origins is now available on the Apple App Store, although for a restricted number of countries. Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia, and Vietnam are among the launch areas, with a focus on Latin America and portions of Southeast Asia. The game maker went on to say that it is working with Google and Apple to deliver feature parity to mobile consumers on both platforms.
OKX Now Starts To Support ORDI Trading
OKX announced the listing of Orders (ORDI) on its spot trading markets. Spot trading for the ORDI/USDT pair will commence if the ORDI token investment satisfies the exchange’s standards.
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.
Join us to keep track of news: https://linktr.ee/coincu