EU Rejects Regulations, Terra CEO Bets On Luna, ConsenSys Raises $450M, Ukraine Legalizes Crypto, APE Launch, And More



The raging Ukraine-Russia war has seen financial support pouring in, in the form of BTC and other cryptocurrencies. In a monumental move, Ukraine’s President Zelenskyy has signed the Virtual Assets Bill, resulting in the legitimization of cryptocurrency in the war-ravaged country. Keep reading to learn more about the bill and other events in crypto and blockchain from this week.  

Bitcoin

Arthur Hayes writes about the end of the petrodollar/eurodollar monetary system and the biggest wealth transfer into gold and bitcoin that the world has ever seen.

Canadian authorities have seized and frozen BTC donations received by the truckers protesting in Ottawa against vaccine mandates. 

The European Parliament has voted down a set of bills that would have introduced regulations to the cryptocurrency market, like imposing restrictions on proof-of-work mining. 

Ethereum

Ethereum scaling startup Optimism has raised $150 million in its latest Series B funding round, putting the company’s total valuation at $1.65 billion. 

The Ethereum Foundation announced that the Merge was successfully completed on the Kiln testnet, which is the final public testnet, before Ethereum finally transitions to Proof-of-Stake later this year. 

DeFi

Daniele Sestagalli has announced the launch of Expecto Patronum, which incentivizes Wonderland rage quitters quitting through Patronum. 

After recovering from the flash loan attack, Deus Finance enforces measures to ensure user funds safety and improve protocol security. 

Decentralized exchange protocol, SushiSwap has announced the launch of Trident DEX on the Polygon network.

Coinbase’s wallet browser extension now supports Solana and SPL tokens, thus opening up Solana’s expanding ecosystem to a broader audience.

Altcoins

Terra CEO Do Kwon has matched 2 bets that wager the LUNA price will be below $88 and $92.48 in a year from now. The $22 million amount of both sides of the bet are now in an escrow under the control of Crypto Cobie, co-host of the UpOnlyTV podcast.

Technology

Crypto payments firm Ripple has announced that it is giving out 1 billion XRP as part of a grants programs aimed at helping support up-and-coming developers for the open-source XRP Ledger.

Socios CEO Alexandre Dreyfus has reportedly been holding back payments in order to maintain the price of the Chiliz (CHZ) cryptocurrency used by the Socios community.
ConsenSys’s latest report disclosed details of its latest funding round, which raked in $450 million in capital, pushing the company’s valuation to $7 billion. 

British bank HSBC has purchased a plot of land in the Sandbox metaverse to engage with sports, esports, and gaming enthusiasts. 

ETC Group and HANetf have partnered up to bring Europe’s first metaverse ETF, which has since been listed on the London Stock Exchange. 

Billionaire businesswoman and singer Rihanna may be taking her cosmetic line Fenty Beauty to the metaverse after filing for a trademark to sell her Fenty brand as virtual cosmetics.

Regulation

Senator Elizabeth Warren’s crypto sanctions bill receives criticism, with industry experts calling it unconstitutional, unnecessary, and overboard. 

Ukrainian President Volodymyr Zelenskyy has signed the virtual assets bill, legalizing cryptocurrency in war-ravaged Ukraine.

According to local reports, Argentina is planning to tighten regulations of cryptocurrency companies by including them in the country’s anti-money laundering efforts.

The SEC vs Ripple drama continues as District Court Judge Analisa Torres rejected motions filed by the Securities and Exchanges Commission and the Ripple team both. 

Binance Holdings Ltd., which operates the crypto industry’s largest exchange by volume, is reportedly undergoing deliberations for a license to operate in Dubai.

NFT

Pro-wrestling organization WWE has announced its upcoming NFT marketplace, WWE Moonsault, which will be launched just before WrestleMania 38. 

Bored Ape Yacht Club creator, Yuga Labs, has announced the launch of the eagerly awaited token ApeCoin, which will be used for culture, gaming, and commerce.

The ApeCoin launch announcement has triggered a flurry of scammers targeting gullible users through hacked, verified accounts and a phishing website. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


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