Coming every saturday, hodler digest Will help you track every single important news that happened this week. The best (and worst) quotes, adoption and regulation highlights, major coins, predictions and more – a week on Cointelegraph in one link.
Top news of the week
Peter Schiff’s Bank Close Strengthens the Bitcoin Case for Financial Freedom
Bitcoin hater and gold smuggler Peter Schiff saw his bank in Puerto Rico, Euro Pacific International Bank, shut down this week, with regulators pulling the plug on grounds that the bank was not maintaining net minimum capital requirements. . Schiff noted that, as a result, “accounts are frozen and customers can lose money.” The crypto community on Twitter was swiftly swooning, with pseudonymous user hodlmagu noting the priceless irony: “Do you understand why you need bitcoin now?”
Bitcoin ‘tourists’ have been purged, only hodlers left: Glassnode
According to Glassnode’s “The Week On-Chain” report published on Monday, “market tourists” are believed to have been “purged” from the BTC market, with only experienced holders or investors transacting with the asset. are. The report also noted that “shrimp” – those with less than 1 BTC, and whales – those with 1,000 to 5,000 BTC – “were growing significantly.”
Ethereum Testnet Merge Mostly Successful – ‘Hiccup won’t delay merge.’
Ethereum developers completed the second-to-last merge test on the Sepulia public testnet this week. There was a small hiccup with 25-30% of validators going offline after the merge due to “misconfiguration”. However, developers such as Terence Tsao said that “hiccups will not delay the merge.” Final merge testing on Goerly is due to be completed in the next few weeks, and it appears that an official Ethereum merge is on track for now.
Voyager Digital files for Chapter 11 bankruptcy, proposes recovery plan
On Tuesday, just days after the crypto exchange halted trading, withdrawals and deposits, Voyager Digital filed for bankruptcy as part of a “restructuring” plan. Under the plan, Voyager seeks to make users whole again by offering a combination of Voyager tokens, crypto, proceeds from Three Arrows Capital Recovery, and common shares in the newly reorganized company.
Below is: CNBC’s Jim Cramer says crypto has ‘no real value’
The crypto community on Twitter has joked that the crypto is at the bottom after Jim Cramer predicted that the market would fall further, adding that crypto “has no real value.” Cramer has developed a reputation in the crypto community for giving stock/crypto tips that usually end up at odds with the behavior of the market. “How Many Companies Can Sam Bankman-Fried Save?” They said.
winners and losers
bitcoin at the end of the week ,B T c, is on $21,804.19ether ,ETH, Feather $1,239.99 And XRP Feather $0.35, is the total market cap $960.9 billion, according For CoinMarketCap.
Among the top 100 cryptocurrencies, the top three altcoin gainers of the week are Curve DAO token (CRV) Convex Finance, at 49.12% (CVX) 41.45% and Thorchen . Feather (Run) at 25.95%.
Top 3 Altcoin Losers of the Week Amp (amp) KuCoin Token, at 8.52% (KCS) 7.17% and UNUS SED LEO (Leo) at 5.98%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
most memorable quotations
“Celsius has refused to acknowledge the truth or his failures in risk management and accounting.”
jason stoneCEO and Founder of KeeFi
“In the future, we see blockchain as a way to bring more empowerment and freedom to communities on Reddit.”
redditsocial media platform
“There’s a lot of peripherals that aren’t being tested right now and that’s inevitable and probably okay.”
Vitalik Buterinco-founder of ethereum
“Crypto really starts to explode. From $3 trillion to $1 trillion. Why should it stop at $1 trillion? There’s no real value.”
gym crmeHost of CNBC’s Mad Money
“We now need to bring in a regulatory system that will manage those risks in the crypto world the same way we manage them in the traditional world.”
John CunliffeDeputy Governor for Financial Stability at the Bank of England
“The bitcoin network is approaching a state where almost all speculative entities and market tourists have been completely removed from assets.”
glassnodeblockchain analytics firm
Bloomberg analyst suggests bullish BTC recovery over the next six months
Bloomberg’s senior commodity strategist, Mike McGlone, has predicted that BTC could be due for “one of the biggest bull markets in history” during the second half of 2022, arguing that the bottom is up and the floodgates could be slammed open. can be primed for. He cited market activity in the first half of 2022 to be similar to the bottom of a bear market in 2018, which then escalated in the first six months of 2019.
FUD of the week
Pennywise crypto-theft malware spreads through YouTube
According to cyber intelligence company Cyble, a new strain of crypto malware is being spread through YouTube. The malware, named Pennywise, tempts users to download software that is capable of siphoning data from more than 30 crypto wallets and crypto-browser extensions. Pennywise can also take screenshots and steal sessions from chat applications like Discord and Telegram.
Celsius Moves $529M Worth of wBTC to FTX Exchange: Should We Be Worried?
On Friday, it was reported that Celsius had transferred approximately 25,000 wrapped bitcoin (WBTC) worth $528.9 million to the FTX crypto exchange. The move has raised concerns that a dump could soon follow, resulting in a possible drop in the price of BTC.
KeyFi takes Celsius to court as blatant fraud allegation
KeyFi, an investment firm that previously managed $2 billion worth of Celsius assets, has filed a lawsuit against the troubled lender over alleged failure to honor a “millions of dollars” of profit-sharing agreements. KeyFi accused Celsius of refusing to honor a “handshake agreement” that would take home a percentage of the profits made on behalf of Celsius through staking and DeFi strategies.
Best Cointelegraph Features
bear market? “So what,” says world chess champion Garry Kasparov
Cointelegraph sat down with chess grandmaster Garry Kasparov at Consensus 2022 to get his thoughts on the crypto and NFT market.
How the Metaverse Could Revolutionize the Fashion Industry
Brands and their clients benefit greatly from merging the fashion world with the metaverse.
What does a ‘net’ bear market really mean?
The latest bear market should send a clear signal to projects: it’s about finding a problem that needs solving, and actually using your product to solve it.