Last Week in Crypto February 12-18 Top Stories You Might Have Missed
With another week passing, we have so many things to talk about regarding the crypto industry:
Table of contents
- CZs Sentencing Date Was Postponed to April
- Bitcoin Hit $50,000 for the First Time Since 2021
- SafeMoon CEO Was Released on Bail
- The Glenlivet Used NFTs and AI to Sell 50-Year-Old Collection
- Ledger Will Integrate Coinbase to Simplify Crypto Purchases
- Uniswap V4 Might Launch in Q3 2024
- Coinbase Donated $3.6 Million to Bitcoin Developers
- Celsius Started Distributing $2 Billion to Creditors
- Ripple Will Buy a US Crypto Trust Company to Expand Services
- Telefónica Partners with ChainLink to Provide Stronger Security
CZs Sentencing Date Was Postponed to April
Summary: Changpeng Zhaos sentence date was postponed in a lawsuit that accuses him of not ensuring strong AML procedures.
Details: After Binance founder Changpeng Zhao was accused of money laundering, he is now to wait until late April to receive his sentence. The change was made through a notice in the Seattle federal court.
Unfortunately, the notice did not explain why CZs sentence was postponed until April 30. Furthermore, Changpeng Zhaos lawyer, William Burck, declined to comment.
Changpeng Zhao pleaded guilty on November 21, 2023, to a charge of failing to maintain an effective AML (Anti-Money Laundering) program at Binance, the largest crypto exchange on the market.
Source: CNBC
Bitcoin Hit $50,000 for the First Time Since 2021
Summary: Bitcoin finally recovered and hit $50,000 for the first time since 2021, when it had its all-time high.
Details: We are currently experiencing a truly promising and fortunate event last week, Bitcoin hit the $50,000 point for the first time since 2021, when it also experienced its all-time high of $68,992. The big change happened on Monday, February 12, at 11:00 AM.
The price surge is truly surprising, especially considering that the cryptocurrency was having a bit of a hard time after the launch of multiple spot Bitcoin ETFs (Exchange Traded Funds). Another awaited Bitcoin-related event is the Bitcoin halving, which is getting closer and closer and is expected to take place in April 2024.
Source: Decrypt
SafeMoon CEO Was Released on Bail
Summary: SafeMoon CEO Barden John Karony was released on bail after being charged with AML conspiracy on October 31, 2023.
Details: Braden John Karony, the CEO of now-bankrupt crypto company SafeMoon, was released on bail, but there is a catch; his lawyers, Petrillo Klein & Boxer, may decide to withdraw as Karonys counsel due to SafeMoons lack of funds.
Thus, Braden John Karony may be left in the hands of a public defender, which can slightly change the outcome of the lawsuit. The SafeMoon CEO and CTO were arrested and charged with securities, wire fraud, and money laundering conspiracy on October 31, 2023.
Source: Cointelegraph
The Glenlivet Used NFTs and AI to Sell 50-Year-Old Collection
Summary: Scotland-based distillery The Glenlivet started using NFTs and AI to streamline and improve the sale of a 50-yearl-old whiskey collection.
Details: Major distillery The Glenlivet started including NFTs (Non-Fungible Tokens) and AI (Artificial Intelligence) in its marketing strategy to help sell a 50-year-old collection of whiskey bottles. The bottles from this collection have been maturing at the companys Speyside distillery in Scotland since 1974.
The Glenlivet used AI to design various unique labels for each bottle of the collection. Furthermore, the company will use a blockchain-based marketplace to facilitate traceability and establish provenance while also increasing the level of transparency during the sale of the whiskey bottles.
Source: Cryptonews
Ledger Will Integrate Coinbase to Simplify Crypto Purchases
Summary: Ledger announced that it will integrate Coinbase Pay into its app to streamline crypto purchases and transfers.
Details: Ledger announced a new collaboration with Coinbase exchange, the 2nd largest crypto exchange on the market. The main goal of the partnership will be to streamline crypto purchases and develop an easier way to transfer assets from an exchange into self-custody.
To do this, Ledger will integrate Coinbase Pay into the Ledger Live application. This will allow users to transfer their funds and transact directly from their desktop or mobile devices. Furthermore, crypto investors will be able to receive crypto purchases directly on their Ledger devices.
Source: Cointelegraph
Uniswap V4 Might Launch in Q3 2024
Summary: Uniswap announced that the 4th version of its decentralized exchange will probably be launched in Q3 of 2024.
Details: The Uniswap Foundation announced that the launch of Uniswaps version 4 protocol may take place in Q3 of 2024. The exact date strongly depends on the implementation of the Ethereum Dencun hard fork, which is set to take place in March. The v4 upgrade will increase security significantly.
Furthermore, the 4th version of Uniswap will focus on shifting to a more modular structure by incorporating hooks, which are smart contracts that will facilitate additional platform customization.
Source: The Block
Coinbase Donated $3.6 Million to Bitcoin Developers
Summary: Coinbase announced a surprising donation of $3.6 million to Brink NGO to support development on the Bitcoin blockchain.
Details: Coinbase, the 2nd largest cryptocurrency exchange on the market, recently donated $3.6 million to Brink, an NGO (Non-Profit Organization) supporting Bitcoin developers. Brink responded with a tweet that thanked Coinbase CEO Brian Amstrong and the exchanges team for their donation.
The donation was made through GiveCrypto, a Coinbase project used to facilitate donations launched in 2018 by Brian Amstrong. Although Coinbase announced that it was to close the platform due to the inability to create lasting change purely through unconditional cash transfers.
Source: Cointelegraph
Celsius Started Distributing $2 Billion to Creditors
Summary: Celsius announced that it started distributing funds to creditors as part of its emergence from bankruptcy, with $2 billion worth of crypto distributed.
Details: Celsius announced that it started distributing crypto to creditors. Kirkland & Ellis, the law firm advising Celsius, offered the update through a court filing. The total amount of crypto currently offered is worth $2 billion. The crypto offered to creditors includes 20,255.66 BTC and 301,338.77 ETH.
The distribution of funds will be completed through PayPal for US holders, while Coinbase will contribute to sending funds to overseas holders. Celsius announced its emergence from bankruptcy in 2022, and the process was initiated in July of the same year.
Source: Crypto.News
Ripple Will Buy a US Crypto Trust Company to Expand Services
Summary: Ripple crypto company announced that it will buy Standard Custody & Co. and its New York charter as part of its efforts to expand and diversify services in US and not only.
Details: Ripple announced that it plans to buy Standard Custody & Trust Co., a crypto trust company that also has a New York charter. The main reason for the massive purchase is Ripples plans to expand its services.
Experts believe that Ripples move is a bit bold, considering that the company is currently involved in a lawsuit with the US SEC (Securities and Exchange Commission). However, the companys purchase clearly shows its goal to go beyond the payments network that made it popular and tackle other financial products.
Source: CoinDesk
Telefónica Partners with ChainLink to Provide Stronger Security
Summary: Telefónica announced a strategic partnership with ChainLink, aiming to increase security and eliminate SIM swap attacks.
Details: Spanish telecommunications giant Telefónica announced a partnership with Web3 oracle provider ChainLink to increase security and fight against SIM swap attacks. The partnership was announced on February 15.
Along with ChainLink, Telefónica aims to enable the secure connection of smart contracts with GSMA Open Gateway APIs. This change will allow for data verification across various sources thanks to ChainLinks technology.
Source: Yahoo Finance
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