Rallying Quickly, Growing Fastly, Surging Highly and 20 Crypto Jokes

After the previous week ended with bitcoin becoming a more favored investment at the expense of ethereum once again, the gaming industry is spurring growth in the blockchain-powered dapp sector with DeFi and NFT losing ground, and a global investigation by ICIJ – dubbed the Pandora Papers – exposed how the world elite was using offshore structures and trusts in tax havens to conceal their wealth. Then, bitcoin broke the USD 55,000 resistance, returned to USD 1trn market capitalization, and decoupled from stocks, while Bitcoin Lightning Network is growing faster than public metrics show. Stellar rallied on the MoneyGram partnership announcement, AXS once again surged to an ATH after the team behind it announced a new DEX, and Shiba Inu soared on high volume, then neared the top 10 list. Meanwhile, deposits on the ‘big four’ South Korean exchanges were up 1,368%, CoinSwitch Kuber said it raised over USD 260m at a valuation of USD 1.9bn, and CoinShares invested in Swiss-based online bank FlowBank.

While crypto regulation is on the cards in Latin America, Chainalysis found that India’s crypto market is more ‘mature’ than those of Vietnam and Pakistan. A leading Salvadoran engineering academic claimed that volcano-powered Bitcoin mining could be ruinous for the nation’s economy, while President Bukele blasted critics as BTC price boomed; the US SEC Chairman ruled out the possibility of enacting a China-style crypto crackdown, the IMF suggested that economic leaders fight back against crypto by issuing their own CBDCs, the BIS said that the financial system is in ‘an age of disruption’, and the FBS warned that countries should work to prevent ‘regulatory arbitrage’ for stablecoins.

At least six XRP holders will get their day in court in the Ripple-SEC battle, while the regulator served up Circle with a subpoena. Unstoppable Domains and 30 of the world’s crypto wallets formed the Wallet Alliance, Sino-Global will enter a Bitcoin mining machine joint-venture with Highsharp to work on the development of mining machine ‘Thor’, and the Cryptoverse with Busta Rhymes pointed out the flaws of centralization after Facebook went down for hours. North Korea is conducting spear-phishing activities on the crypto industry, and while Compound Finance faced more trouble when USD 65m in COMP was dripped into the contract plagued by a bug, the anonymous developer behind Evolved Apes disappeared with USD 2.9m in project funds.

And now, it’s time to enjoy your jokes. Start, now!

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Heeey, CT! A sat for your thoughts.

Let’s now check how this month is going in the Cryptoverse.

So markets are doing good?

Speaking of good… Looking gooood!