Last Week in Crypto April 8-14 Top Stories You Might Have Missed
Well, if its not time again to talk about the top stories that made the crypto industry more dynamic last week. While Polkadot and Worldcoin reached new milestones, a Binance executive was caught in Kenya trying to escape. Furthermore, StepN announced a surprising airdrop, and the Winklevoss twins are one crypto-related acquisition richer.
Thus, lets see what else the crypto industry prepared for us.
Table of contents
Altcoin News
The world of altcoins is full of new releases and milestones, and last weeks stars include Polkadot, StepN, Worldcoin, and the Winklevoss Twins, along with a new acquisition of theirs.
Polkadot Number of Addresses Hit 600,000
Summary
Polkadot reached a record high of 600,000 active addresses, partly thanks to Moonbeam.
Details
Polkadot, a blockchain network, has achieved a new milestone by surpassing over 600,000 active addresses, indicating a significant increase in its ecosystem activity. This growth is largely attributed to Moonbeam, a cross-chain smart contract platform, which alone accounts for about 248,000 of these addresses.
Despite this increase in active addresses and accounts, the total transactions on the network have remained relatively low compared to previous peaks. In March, Polkadot recorded about 11.58 million transactions, which is an increase from February but still considerably lower than the 31.78 million transactions in December 2023.
Source: CryptoPotato
StepN Announced a $30 Million Airdrop
Summary
The M2E App StepN is conducting a $30 million airdrop of 100 million FSL points for its loyal users on the Solana blockchain.
Details
STEPN, a lifestyle app built on the Solana blockchain that rewards users for physical activity has announced a generous $30 million airdrop. This initiative is aimed at rewarding the platforms most engaged users, distributing 100 million FSL points that can be converted into STEPNs GMT tokens or used for other benefits like NFT mints and special prizes.
The airdrop, set to continue until the end of April, emphasizes STEPNs commitment to its community and its goal to enhance user interaction within its ecosystem.
To participate, users need to register for an FSL ID through the app, which also facilitates further engagement within the STEPN ecosystem, such as trading on the NFT marketplace or playing strategy games.
Source: Yahoo Finance
Worldcoin Reached 10 Million Users
Summary
Worldcoin has rapidly grown to 10 million users and reached 70 million transactions, which is a genuine milestone for the crypto project.
Details
Worldcoin, a cryptocurrency project aimed at universal basic income, has seen wide adoption, reaching 10 million users and logging over 70 million transactions.
This growth comes less than a year after the launch of its World App in June 2023, highlighting the platforms rapid user engagement and expansion. The app, which registers users by scanning their eyes with devices called Orbs, is designed to foster a global community benefiting from blockchain technology.
Source: Cointelegraph
The Winklevoss Twins Became Co-Owners of a Bitcoin Soccer Club
Summary
The Winklevoss twins have invested $4.5 million in Bitcoin into Real Bedford FC, co-owned by Bitcoin advocate Peter McCormack.
Details
Cameron and Tyler Winklevoss have become co-owners of Real Bedford Football Club by investing $4.5 million worth of Bitcoin, supporting the clubs ambitious plans under the leadership of Bitcoin enthusiast Peter McCormack.
This investment by the Winklevoss twins through their firm, Winklevoss Capital, is intended to boost the clubs infrastructure and include a Bitcoin treasury aimed at future-proofing the club against economic fluctuations.
Source: Forbes
Technology and DeFi News
Technology comes with so many updates, and in the crypto industry, last weeks spotlight landed on 1Inch, Coinbase, and Ethena.
1Inch Launched a Crypto Debit Card in Collaboration with Mastercard
Summary
1Inch has introduced a Web3 debit card in collaboration with Mastercard and Baanx, enabling seamless crypto-to-fiat transactions.
Details
1inch, a decentralized finance (DeFi) firm, has launched a Web3 debit card in partnership with Mastercard and Baanx, aimed at making cryptocurrency more accessible for everyday transactions.
The card allows users to convert their cryptocurrency holdings to fiat currency instantly, facilitating both online and in-person purchases anywhere Mastercard is accepted.
This initiative combines the flexibility of crypto assets with the widespread acceptance of traditional financial systems, enhancing the usability of digital currencies for regular consumers.
The card also supports cash withdrawals at ATMs worldwide and offers both physical and virtual card options.
Source: CoinDesk
Coinbase Worked on an Apple Pay Integration
Summary
Coinbase announced that it will integrate Apple Pay to facilitate easier cryptocurrency purchases for UK users.
Details
Coinbase crypto exchange has announced the integration of Apple Pay for its UK-based users, streamlining purchasing cryptocurrencies like Bitcoin and Ether directly through the iPhones Apple Pay feature.
This move is part of Coinbases broader strategy to increase the number of cryptocurrency holders in the UK by providing a secure and private purchasing experience. The integration ensures that card numbers are not stored on devices or Apple servers; instead, they are stored using a unique encrypted device account number, which bolsters security.
Source: Cointelegraph
Ethena Announced Integration with Exchange Wallets
Summary
Ethena Labs announced that it would integrate with exchange wallets to improve DeFi offerings.
Details
Ethena Labs recently announced the integration of its synthetic stablecoin protocol, Ethena USDe, with centralized exchange wallets, including Binance, Bybit, OKX, and Bitget.
This move will allow users to earn increased yields directly from their exchange wallets by locking USDe for a minimum of seven days, with a 20% reward boost offered as an incentive.
These rewards, named Ethena sats, can later be converted into the native ENA token, significantly enriching the user experience within the DeFi ecosystem.
Source: CoinMarketCap
Crypto Regulation News
In the crypto industry, regulations are changing every day, leaving us with no time to rest. Last week, the top news was about Crypto.com, Uniswap, and Binance.
Crypto.com Is Now Allowed to Function in Dubai
Summary
Crypto.com exchange has received provisional approval from the Dubai Virtual Assets Regulatory Authority to offer its full suite of crypto services in the UAE.
Details
Crypto.com, a rapidly expanding cryptocurrency trading platform, announced that it has received provisional approval from Dubais Virtual Assets Regulatory Authority (VARA) to operate in the UAE (United Arab Emirates).
This approval marks a significant step for Crypto.com as it aims to expand its presence in the Middle East.
The license allows the company to offer a variety of cryptocurrency exchange products and services once it meets all regulatory requirements. This initiative aligns with the UAEs commitment to becoming a hub for blockchain and cryptocurrency innovation, further attracting tech companies to the region.
Source: Crypto.com
The SEC Issued a Wells Notice to DeFi Protocol Uniswap
Summary
The SEC has issued a Wells notice to Uniswap, signaling potential enforcement action due to concerns over its DeFi operations.
Details
The US Securities and Exchange Commission (SEC) has issued a Wells notice to Uniswap, the prominent decentralized finance (DeFi) platform. This formal notification suggests that the SEC is considering enforcement action, citing regulatory concerns.
Uniswaps Chief Legal Officer, Marvin Ammori, expressed disappointment but not surprise regarding the notice, highlighting ongoing issues with regulatory clarity in the DeFi space.
Despite this, Uniswap states that its operations, including its protocols and wallet services, do not meet the legal definitions that would typically warrant such SEC actions.
Source: CoinDesk
A Binance Executive Was Tracked Down to Kenya
Summary
A Binance executive was tracked to Kenya after being accused of money laundering.
Details
Binance executive Nadeem Arjarwalla has been located in Kenya after fleeing Nigeria, where he faced serious charges, including money laundering.
The Nigerian government, in collaboration with the Interpol and the Kenyan police, is working to extradite him back to Nigeria to stand trial.
Arjarwalla, who entered Nigeria with a UK passport, managed to escape custody and fly out of Nigeria using a Kenyan passport, raising questions about how he acquired it while his UK document was held by Nigerian authorities.
Source: Cointelegraph
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