Hii Breet Gang,
How’re you doing?🕺
It’s another week in May & I know I’m not the only one seeing how fast the first half of 2023 has been running – Usain Bolt must be shaking o 🌝
Anyhoo, even with the speed that the days have been moving, there’s been plenty happening in the crypto industry.
There’s even interesting news here in Nigeria – #BlockchainPolicyAlert coming right up! 👀
But relax; we’d get to that gist soon.
Let’s begin! Here’s What Happened In The Crypto World Last Week:
1. On Friday morning, we watched our biggest crypto-coins take a slide down the charts! Bitcoin (BTC) dipped to $29,111 after a 0.41% drop, while Ethereum (ETH) fell to $1,903 after a 0.71% loss. We move with hope this week 🥹
2. Exciting news; Decentralized Exchange (DEX) SushiSwap has commenced with the launch of new liquidity pools across 13 networks to facilitate trading & liquidity across networks, as well as to reduce exposure to financial risks on popular chains, including Ethereum, Arbitrum and Polygon, BSC and Avalanche. Okurrrr 👏
3. Next – Ethereum gas fees are shooting through the roofs! It’s surged to a 12-month high of 87 Gwei (1 gwei = 1-billionth of an ether) for users on the smart contract blockchain, and this value increase of over a whooping 50% has been traced to the launch of the PEPE meme token last month. PEPE, be calming down 🌚
4. Federal Judge Victor Marrero has decided to uphold his ruling to keep frozen $35M in crypto assets held by SpartacusDAO – a crypto investment project whose leader faces a lawsuit from aggrieved investors – as well as the restraining order against Wei Wu (the man behind Spartacus) until he’s ready to work with the court. Court dismissed 🤐
5. Up next – the cloud division of Chinese tech behemoth Alibaba has built a launchpad called Cloudverse, and this is to aid businesses in deploying metaverses on the Avalanche blockchain, as well as serve as an end-to-end platform for companies to customise & maintain their metaverse spaces. Brilliant! 🤩
6. Let’s bring it back home, shall we? The Nigerian Government has approved a national blockchain policy as part of the country’s effort to transition to a digital economy and “create a Blockchain-powered economy that supports secure transactions, data sharing, and value exchange between people, businesses, and government…’, according to the tweet from the Federal Ministry of Communications & Digital Economy. Very interesting 😌
7. It’s official! NFT creative network Palm NFT Studio is set to roll out the Palm Generative Art Maker, a tool for creators to mint generative art collections on the blockchain and to provide the infrastructure for artists to craft their code, store it on-chain, as well as produce a body of generative artwork. Love to see it 👌
8. Congratulations are in order, as OpenTrade – the provider of on-chain structured financial products for Web3 treasuries and businesses – has raised over $1.5M in a funding round led by crypto-native VC firm Sino Global Capital, with plans to use this funding to scale operations ahead of the launch in the second half of this year 🥳 .
9. And for our last story; looks like the law has caught up with someone o! The former head of product at NFT platform OpenSea – Nate Chastain – has been convicted of money laundering & wire fraud in a New York Federal Court, and this follows his forceful resignation in September 2021 after allegations of insider trading & abuse of position were raised against him. Yikes 🙃
You’re all caught up on the stories, my friend! 💪🏻
Remember, you can stay up-to-date on the latest Crypto stories all week long — just follow us on our social media platforms & drop by our blog! 📱
Till next time,
Have an awesome week! 🕺
