Two major themes dominated Crypto News this week: Sagging Asset Prisms and the official ending of SEC’s enforcement “Mania.”
On the former: Bitcoin, which rose steadily from about $ 70,000 after the November election, the precipitate fell. In the February 28, the price of February 28 was dipped under $ 80,000. Coindesk’s Market Index, which tracks the wider market for digital assets, has fallen 12% in the last five days.
Coindesk’s market editor Omkar Godbole analyzed the daily price action, tracking ETF flow, historical analogies and macro corrections.
On the legislative front, SEC big cases fell against Uniswap, Coinbase and Metamask (Consensys). It also tried to end a fraud case against Tron and Justin Sun. Our legislative team of Nik de, Jesse Hamilton and Cheyenne Ligon were everywhere in the news as usual. Meanwhile, it seems that SEC will not treat Memecoins as securities, Ligon reported.
Stableecoins were another major theme when issuers argued for the parameters of a new law that covered the most used form of digital assets. Jeremy Allaire, co-founder and CEO of StableCecoin Essuer Circle, said USD-supported stablecoin issuers should be required to register in the United States, in a ready-made to Circle’s greatest rival, Tether (Regulatory Reporter Camomile Shumba. Meanwhile, Bank of America said it was planning to launch its own stableecoin, Helene Braun wrote.
In other important news, Ian Allison only reported that Bitmex, one and trading platform, was for sale. BYBIT adopted the blame for its $ 1.5 billion hack (Oliver Knight reported). The Ethereum Foundation CEO Aya Miyaguchi said she stepped down (Margaux Nijkerk had the news). And Sam Reynolds explained about how investors in the Chinese mainland can soon access Bitcoin.
All of these stories probably looked in next week’s cover as crypto continues to give plenty to write about. Stayed set to our continued reporting. Happy weekend.
