Hey there, crypto enthusiasts!
Welcome back to another exciting recap of the week covered by the PerseusCrypto team.
Last weekly crypto news alerts happenings in the ever-dazzling world of cryptocurrencies.
This week on the wild ride that is Crypto Twitter, we’ve witnessed some jaw-dropping twists and intriguing developments that kept us glued to our screens.
From token tumbles to regulatory ripples, let’s dive into the juicy details!
The Curious Case of PepeCoin’s Plummet
Hold on to your digital wallets, folks, because we’re kicking off with a tale of price plunges and unexpected maneuvers.
The PepeCoin team had everyone’s eyebrows raised as their token’s value took a nosedive. It’s like watching a rollercoaster you’re not quite sure you signed up for!
As the price dropped, speculations and discussions flooded the Twitter sphere, making it the talk of the town.
Crypto Twitter Catches its Breath
In the world of cryptocurrency, where things can change at the speed of light, this week was a bit of a breather.
The news cycle slowed down a bit, giving us all a chance to catch our breath.
But hey, a slower week in the crypto realm just means that our favorite digital coins get a chance to recharge, right?
Following OKX and KuCoin, Bitget announced that it will strengthen its KYC policy. From October 1st, users who have not completed Level 1 KYC verification will only be able to withdraw funds, cancel orders, and close positions. To complete Level 1 KYC, you need to submit…
— Wu Blockchain (@WuBlockchain) August 21, 2023
Seychelles Exchanges and the KYC Storm
China’s very own blockchain guru, Colin Wu, set the stage for the week by dropping a bombshell on Monday.
ByGet, a crypto exchange nestled in the picturesque Seychelles, announced a ramped-up version of its Know-Your-Client (KYC) policy.
While the serene Seychelles might not have been making political waves, the global crypto community has certainly been causing ripples.
Regulators are eyeing the crypto scene like hawks, and they’ve got KYC and anti-money laundering practices square in their sights.
It’s like a digital detective story with regulatory twists!
XRP’s Rocky Road to Redemption
Remember the XRP saga?
Last month, XRP was strutting its stuff after a judge ruled that it’s not a security.
That was a big win for Ripple, the company battling it out with the United States Securities and Exchange Commission (SEC) in court.
The SEC had previously dropped the bomb that all cryptocurrencies not named Bitcoin are securities.
But, hold your horses, because not everyone was convinced.
Bitcoin aficionado Kaleo gave a nod and a wink, suggesting that the victory parade might be more show than substance.
— K A L E O (@CryptoKaleo) August 21, 2023
A Glimmer of Hope for Grayscale’s ETF Dream
James Seyffert, the ETF analyst with a keen eye for all things Bloomberg, let us in on some intriguing behind-the-scenes action.
Grayscale, the folks behind that flagship Bitcoin trust, seems to be on the path to making their ETF dreams come true.
It’s like watching a puzzle come together, piece by piece, with Bitcoin at the heart of it.
Still more than 75% of most major collections haven't yet traded in 2023. Lots of NFTs sitting in wallets through this downturn. pic.twitter.com/9F9XM5KPbs
— NFTstats.eth (@punk9059) August 22, 2023
Unveiling NFT Enigmas
NFTStats.eth, the resident crypto researcher and explorer of the uncharted NFT seas, pulled out a little gem to share.
An NFT factoid that tickles the mind and makes us marvel at the creative intricacies of this digital art world.
Circle’s Blockchain Expansion
Hump day brought us some news from Circle, the wizards behind those stablecoins.
They’re going big with their flagship dollar coin, expanding their presence in the blockchain domain.
It’s like watching a coin spread its wings and soar into new territories.
With Circle at the helm, who knows where this adventure might take us?
Troubles in Tornado Town
Colin Wu strikes again, revealing a tale of intrigue involving the co-founder of Tornado Cash, Roman Semenov.
This crypto mastermind found himself on the U.S. Department of the Treasury’s radar, earning a spot on their list of specially designated nationals.
And guess what?
His partner in crypto-crime, Roman Storm, got a less-than-pleasant surprise too – an arrest for alleged money laundering shenanigans.
Looks like the winds of change are blowing through Tornado Town.
Unveiling Market Mysteries
Riyad Carey, the intrepid explorer of market trends and mysteries, stumbled upon something that set the rumor mill spinning.
A discovery that tickled our curiosity buds and had us all wondering about the hidden dynamics beneath the surface.
Nvidia’s Trillion-Dollar Triumph
Nvidia, the tech powerhouse, took the spotlight this week, stealing it from the crypto scene with a trillion-dollar market cap.
Artificial Intelligence (AI) technology, is the crown jewel of Nvidia’s offerings.
But let’s not forget – miners, those unsung heroes of the crypto world, also have a soft spot for Nvidia’s products.
PepeCoin’s Perilous Plunge
Hold onto your meme-loving hats, because the PepeCoin saga continued with another jaw-dropping twist.
For the second consecutive week, PepeCoin’s value plummeted.
But here’s the kicker – the team orchestrated a move that had the community buzzing.
Their multi-sig Ethereum address embarked on a journey, transferring heaps of PEPE coins to prominent exchanges.
It’s like a plot from a thrilling heist movie!
an announcement to the $PEPE community:
Yesterday on August 24th, 2023, a series of unexpected transactions took place from the $PEPE multisig CEX
Wallet in which ~16 Trillion $PEPE tokens (worth roughly $15m USD) were transferred to various crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw
— Pepe (@pepecoineth) August 26, 2023
The Last Developer Standing
In a twist that could come straight from a suspense novel, the last remaining PepeCoin developer stepped forward to spill the beans.
Brace yourselves – the dramatic maneuvers were actually a coordinated effort by the coin’s founders, a classic rug pull.
But here’s the silver lining:
In the middle of the chaos, they still believe in the coin’s potential.
A rollercoaster ride of emotions, indeed!
Farewell to Crypto Cards: Mastercard and Binance Part Ways
In a surprising turn of events, two giants in their own right, Mastercard and Binance, are waving goodbye to their crypto card endeavors.
These two juggernauts are putting an end to not one, not two, but four crypto card programs next month.
The Binance Card in Argentina, with its aim to bridge the gap between everyday transactions and cryptocurrencies, is among the ventures coming to a close.
This card was the ticket to making purchases and paying bills with the likes of Bitcoin at more than 90 million merchants.
It’s a reminder that even in the crypto world, partnerships can have their ups and downs.
The King’s Cup Global Invitational: Bitget’s Trading Showdown
Get ready to witness a crypto showdown like no other!
Bitget, a leading platform for crypto derivatives and copy trading, has unleashed the annual trading competition, the King’s Cup Global Invitational (KCGI) 2023.
This is the ultimate challenge where traders from around the world, including our friends from India, come together to battle it out for a jaw-dropping prize pool of up to a whopping 2.65 million US dollars.
And guess what’s on the line?
A chance to ride in a Tesla Cybersquad or even take to the skies in an Airbus H135 helicopter.
It’s not just about trading, it’s a grand adventure!
Funding Frenzy: Fresh Funds for Layer-1 Blockchains
Hold onto your digital wallets, because the crypto funding scene has been on fire this week!
Not one, not two, but nine crypto companies managed to secure a mind-blowing total of 158 million US dollars in fresh funding.
Among the star performers is ZetaChain, which secured a cool 27 million dollars in funding.
With big players like Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR in the game, ZetaChain is poised for an exciting journey ahead.
Their focus on Ethereum Virtual Machine-compatible layer-1 blockchain without the fuss of bridges and wrapped tokens is setting a new course for crypto’s interoperable future.
Coinbase and Circle: Paving the Path Forward
Coinbase, a name synonymous with crypto, is making strategic moves on the board.
They’re aiming to grab a slice of the pie by investing in Circle Internet Financial.
At the same time, they’re bidding farewell to the Centre Consortium, the driving force behind the USD Coin (USDC), a stable cryptocurrency.
With clearer rules for stablecoins, Coinbase is streamlining its operations, waving goodbye to the need for a separate entity like Centre.
It’s all about optimizing their crypto journey for smoother sailing.
Dubai’s BitOasis: Navigating Funding Waters
Dubai’s very own crypto exchange, BitOasis, is making waves with a fresh round of funding.
They’ve secured investment from notable players, including CoinDCX from India.
Although the terms of the deal remain shrouded in mystery, one thing is clear – BitOasis is on the move.
With existing investors Wamda Capital and Jump Capital also joining the funding round, it’s a testament to the growing interest in crypto from diverse corners of the globe.
Keep an eye on this one, folks!
Crypto Chats and Fraudulent Foxes
Hold onto your keyboards, because a unique saga unfolded this week.
Fraudsters had a field day utilizing ChatGPT, a language model, to release a crypto botnet.
Dubbed “Fox8,” this botnet comprised a staggering 1,140 accounts.
Crafting auto-generated content to lure unsuspecting souls into clicking on links to crypto-hyping websites.
It’s a reminder that the digital realm has its share of foxes in sheep’s clothing.
Crypto Explorers Unite: Coinbase Canadian Quest
Coinbase, the powerhouse of the crypto world, is on a mission to rally Canadian banking giants to the crypto cause.
With recent forays into the Canadian market and ongoing regulatory uncertainty back home, Coinbase is looking to build bridges and foster support for the crypto ecosystem in the Great White North.
It’s a testament to the global impact of cryptocurrencies and the evolving dynamics of the industry.
Crypto Whirlwind: Vitalik Buterin’s ETH Deposit
In a move that caught many by surprise, Ethereum co-founder Vitalik Buterin made a significant deposit of 600 ether (ETH), equivalent to around a cool million dollars, to the Coinbase crypto exchange.
This strategic move aligns with a broader market downturn that witnessed a 10% decline in ether’s value over the last week, coupled with a whopping $1 billion in liquidations.
The crypto world is a rollercoaster, and even the founders aren’t immune to its twists and turns.
The Mystery of the Third-Largest Bitcoin Wallet
Enter the realm of crypto mysteries!
An unknown Bitcoin wallet quickly skyrocketed to become the third-largest holder of Bitcoin in just over three months.
With around 118,000 BTC worth approximately $3.08 billion at current prices, speculation is rife about the identity of the wallet’s owner.
It’s a reminder that the crypto world is full of surprises and enigmatic players.
Unveiling Crypto Obsessions: Slovenia Takes the Lead
Ever wondered which country has the most crypto-obsessed population?
Look no further than Slovenia, a nation that’s taken the top spot in a crypto-related search ranking.
With an average of around 4,789 searches per 100,000 people, Slovenia is leading the pack.
From Luxembourg and the Netherlands to Finland and Turkey, the crypto curiosity is spreading far and wide.
Conclusion: Navigating the Crypto Waters
And there you have it, folks!
Another whirlwind week in the ever-dynamic world of cryptocurrencies.
From plummeting tokens to regulatory waves, from NFT mysteries to trillion-dollar triumphs – the crypto landscape never fails to keep us on our toes.
So, until next week, keep those digital wallets at the ready and stay tuned for more thrilling tales from Crypto Twitter!