Crypto Market Highlights May 1, 2022

Crypto Market Highlights: General News

  • Yuga Labs published a new NFT collection on Saturday as part of the upcoming Bored Ape metaverse Otherside, which includes 100,000 land deeds for the virtual realm. Due to Ethereum’s inability to share the load, users were forced to spend hundreds of dollars in fees for unsuccessful transactions, and the platform was rendered unusable for hours.
  • ApeCoin, the most popular utility token, has surpassed LINK, the native token of Chainlink, to become the 23rd largest crypto asset by market cap. ApeCoin’s admission into the top 25 list reflects a remarkable rate of growth that is rarely seen. When you consider the token’s relatively young age, its growth becomes even more significant and intriguing.
  • Warren Buffett and Charlie Munger opened fire at the cryptocurrency industry during Berkshire Hathaway’s annual shareholder meeting on Saturday. “If you told me you owned all the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Buffett said. In contrast, Buffett said he would buy a portion of the country’s farmland, or some of the nation’s apartments. He reiterated his view that bitcoin isn’t worth anything.
  • The Samsung Group’s investment arm announced on Thursday that it plans to list a blockchain exchange-traded fund on the Hong Kong Exchange (HKEX) in the first half of this year. It is the first ETF to list in Asia that tracks cryptocurrency and blockchain technology firms. The asset management bought a 20% stake in US ETF sponsor Amplify Holding Company LLC in late March, prompting the listing. Through a $30 million transaction, Samsung Asset Management has gained exclusive access to Amplify goods across Asia.
  • A lawsuit has been filed against US crypto exchange Voyager Digital for selling unregistered securities. The complaint comes after many regulatory actions aimed at limiting the use of crypto-yielding schemes. Attorneys Adam Moskowitz and Stuart Grossman filed a case in federal court in Miami on Thursday. According to the lawyers, Voyager Digital should have filed its Voyager Earn Program with the SEC, which offers incentives in Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC), among other cryptos.
  • The Financial Services and Markets Authority (FSMA), Belgium’s financial regulatory agency, has issued a new rule that requires crypto exchanges and custodial wallet services in the region to register within a short period of time. According to data issued by the FSMA, legal individuals and entities who seek to provide crypto exchange services or custodial wallets in Belgium must register in advance starting tomorrow, May 1.
  • According to a Reuters article, the Swiss National Bank Chairman Thomas Jordan stated that the central bank does not see Bitcoin as a viable reserve currency option. Jordan stated that the central bank had no difficulties purchasing Bitcoin. He revealed that the Swiss bank could have direct or indirect exposure to the digital asset. The source added that if the bank decides to add the digital asset to its balance sheets in the future, it will be able to do so rapidly.

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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