1. Bitcoin Drops Under $18,000, Ethereum Falls Below $900
On Saturday, Bitcoin dropped below the $20,000 benchmark, followed by Ethereum crossing the $1000 milestone on its way down. This is a rather sorry state for the 2 most valuable coins in the crypto market. A while after they hit these prices, both coins made a slight comeback, giving hopes to users that $18,979 and $987 would be the lowest they could’ve gone to.
However, as seen on COinMarketCap, the worst had yet to show itself. Later that day, Bitcoin ‘managed’ to hit an even lower price, $17,772, and Ethereum was no better as it hit $898. Users might be waiting for the bottom to come, but it is unpredictable how much worse the situation could get.
2. Terraform Labs Founder Sued For Misleading Users
Along with the collapse of UST and LUNA, the two cryptocurrencies that have lost tens of billions of dollars in value, Terraform Labs co-founder Do Kwon has become the target of a lawsuit filed in the US District Court on Friday. Specifically, an Illinois resident accused Do Kwon and some other firms of violation of federal laws and misleading actions.
Plaintiff Nick Patterson can be quoted saying “Defendants made a series of false and misleading statements regarding the largest Terra ecosystem digital assets by market cap, UST and LUNA, in order to induce investors into purchasing these digital assets at inflated rates.”
3. Non-EU Country Ukraine Is Now Part Of The European Blockchain Partnership
Ukraine has sought to expand its digital economy to connect with that of the EU, and planned to further expand its blockchain network with other countries. Ukraine has now become the third country not affliated with the European Union (EU) after Norway and Liechtenstein to be a part of the European Blockchain Partnership (EBP).
Ukraine has expressed its interet in becoming a member of the EBP since July of last year. Konstantin Yarmolenko, the founder and CEO of Virtual Assets of Ukraine, showed his gratitude for all the cryptocurrencies that were donation to the country amid the ongoing war, and stated that: “Next step is full blockchain integration of Ukraine and EU based on EBP/EBSI initiatives.”
4. Binance Discontinues Deposits And Withdrawals In Brazil
World’s biggest crypto exchange Binance has announced its suspension regarding deposits and withdrawals in Brazilian reals on the Brazillian government’s payment system Pix. Binance’s partnership with Capitual, a local payment gateway, is now terminated.
Responding to this event, Binance only explained that users’ activities via Pix are facing instability due to a change in policy of the Central Bank of Brazil. “Binance will replace Capitual with a local payments provider with extensive experience, which will be announced soon,” the company said, adding that it will be taking legal actions against Capitual.
5. Producers Of Hit Series ‘Silicon Valley’ Launches NFT Project For Content Creators
The producers behind the hit series ‘Silicon Valley’ on HBO just came up with a new crypto project that will soon be launched. This project allows users to create their own comedies, such as memes, and share their original content with others.
The project is called ‘Terrible Pets’, which is a Web3 project featuring big names in the Hollywood like Alec Berg and Mike Judge. Fika Media co-founder and CEO Adam Altman said the project will use Ethereum NFTs to “turn content itself into LEGO blocks”, allowing users to build whatever they want.
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