Crypto Adventure

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,286 trillion. Bitcoin manages to withhold the $30k level after a disappointing week. Ethereum lost almost 3% of its value over the past seven days. XRP decreased by nearly 3% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $0.3 billion from the…

Zhao Changpeng, founder and CEO of the global cryptocurrency exchange platform, Binance, recommends that individuals diversify their investments.  Although Zhao, also known as CZ, warned that he doesn’t necessarily follow his own advice as well. The CEO also assured that Binance users’ funds were "SAFU", as users dread another Terra repeat. "Investment Wise, I'm Not a Good Example" In a Reddit AMA – which means Ask Me Anything – the 44-year-old billionaire briefly discussed a myriad of topics in response…

The Government of Cyprus has laid down its own digital assets laws to administer cryptocurrency transactions. It is very likely Cyprus could adopt the new bill before the EU reaches a consensus regarding its own regulatory structure. Kyriacos Kokkinos, an official of the Cyprus government, shared this information in a fintech meeting at Larnaca. Government Supports Crypto Usage Also a member of the European Union, Cyprus has a reputable position in the consortium when it comes to innovation. Just last…

More than 50% of European families have some investment in digital currency.   The average European family sees crypto as a viable investment and savings option. This data comes from several recent surveys conducted over different demographic areas. Despite the volatility of the crypto space, as recent events highlight, it has seen a continuous rise in new investors. More people are committing to crypto investments and many of them are taking steps to buy into the growing market.  The flurry…

MicroStrategy still doesn’t plan to sell its Bitcoin, according to the company’s new Chief Financial Officer Andrew Kang. The recent bear market, which has brought Bitcoin’s value below the company’s average purchase price, hasn’t shaken the organization’s faith. “At this time, we do not have any intention to sell,” said the CFO, after joining the company on May 9th hailing from GreenSky. “There are no scenarios that I’m aware [in which] we would sell.” Shareholders also remain confident and reportedly…

Rostin Behnam – chairman of the Commodities and Futures Trading Commission – is not happy with Bitcoin’s current levels of energy consumption. He believes regulators should establish incentives to push the network towards a proof of stake (POS) consensus model. Not Worth the Energy, says Benham Speaking at POLITICO’s Sustainability Summit, Benham claimed that Bitcoin’s energy consumption doesn’t match its economic output. “That may rebalance over time, but right now it’s clearly skewed,” he said. Most of Bitcoin’s energy consumption…

Earlier this week, ministers from the world's top economies, the G7, called for greater speed as financial watchdogs introduce comprehensive crypto regulation. This comes shortly after Terra's demise saw several crypto users suffer considerable losses in the space of a week. G7 Contacts FSB to Hurry Things Up The stablecoin failed to maintain its dollar peg and crashed as low as $0.07, with sister token LUNA not far behind. This created a ripple effect as general market anxiety destabilized even…

The Silicon Valley venture capital firm Andreessen Horowitz (a16z) released a report on Tuesday covering the current state of crypto adoption. It highlights Ethereum as the leading blockchain network for developer support but contains very little mention of Bitcoin’s growth. The Potential of Web 3 The VC firm broke boiled down its report into five key takeaways about the current state of crypto. It began by suggesting that the industry is in the middle of its fourth ‘price innovation’ cycle.…

BinaryX developed and released CyberArena, a free-to-play, play-to-earn strategic card game. Gamers may compete to earn rewards while enjoying and experiencing a no-cost game in a new decentralized environment. The team has recently shared an AMA recap on its Medium page. The session gave the public the chance to learn more about CyberArena and the team’s plans. Getting to Know CyberArena CyberArena is a key addition to the BinaryX ecosystem. Being a free-to-play game with substantial prizes, it is a…

The US Federal Bureau of Investigation (FBI) has cautioned businesses against accidentally hiring IT employees from North Korea. In an advisory note, the state and treasury departments and the FBI warned that North Korean hackers are posing as freelancers. In doing so, they take advantage of remote work opportunities to earn money for Pyongyang. According to the FBI, the country’s hackers have been using this approach to evade US and UN sanctions. Reportedly, North Korea has used the funds from…