Last Week in Crypto March 18-24 Top Stories You Might Have Missed
Last week was a blast, right? New all-time highs, new exciting releases, everything contributed to the dynamic vibe of the crypto industry.
Well, remarkable events continue to occur in the field, and we cannot let them pass without analyzing at least some of them. After all, each update or event can change the path of several cryptocurrencies, and we, as investors, must be up to date regarding everything that happens in the industry.
Thus, lets see how crypto performed during the past few days.
Table of contents
- Bitget Wallet Will Launch Its Native Token
- MetaMask Partnered with CoinLedger
- OKX Delisted USDT Pairs in Europe
- The SEC to Get Sanctioned in DEBT Box Case
- Genesis to Settle for $21 Million in SEC Case
- Solana Meme Coin Accidentally Burned $10 Million
- Sequence Partnered with Google Cloud
- Nigerian Authorities Ordered Binance to Disclose All User Data
- Robinhood Launched a Wallet for Android
- Do Kwon Has Been Released in Montenegro
Bitget Wallet Will Launch Its Native Token
Summary: Bitget (former BitKeep) announced the launch of BWB, which will be its governance token.
Details: Bitget Wallet introduced its native token, BWB, which aims to improve the Bitget ecosystem and increase its user base, which already exceeds 19 million users across the Asia-Pacific region.
Formerly known as BitKeep, Bitget made the announcement through its X (Twitter) account and also discussed its airdrop plan, which will include a 6-week BWB Points campaign, an airdrop with BWB Points as rewards, and an IEO in May or June.
BWB will act as the governance token of the Bitget ecosystem, also offering users access to airdrops and a reward share.
Shortly after announcing the launch of BWB, Bitget experienced a temporary service overload due to an unexpected surge in user activity. However, the issue was rapidly resolved.
Source: The Crypto Times
MetaMask Partnered with CoinLedger
Summary: MetaMask partnered with CoinLedger to streamline crypto tax reporting for all MetaMask users.
Details: MetaMask, one of the top crypto wallets in the market, announced a strategic partnership with CoinLedger, a tech platform focusing on crypto tax reporting software. The partnership aims to bring streamlined interoperability and functionality to MetaMask.
Thus, MetaMask users who connect their accounts to CoinLedger can now load their transaction history into CoinLedgers platform easily and quickly. This will reduce friction associated with calculating and reporting taxes, thus making crypto significantly more accessible to all users.
Source: Cointelegraph
OKX Delisted USDT Pairs in Europe
Summary: OKX stopped supporting USDT trading pairs right before new EU rules coming into effect.
Details: OKX crypto exchange ceased support for Tether (USDT), the largest stablecoin by market cap. The change will only affect users based in the European Union and EEA (European Economic Area). An OKX spokesperson said that the decision comes in accordance with OKXs focus on euro-dominated liquidity in the region.
OKXs move is believed to come after some regulatory restrictions for stablecoins in the area have been announced. EU rules will require stablecoin issuers to get a license from electronic money institutions. However, USDT remains available on OKX for EEA-based users for deposits, buying, selling, and converting on OTC trading.
Source: CoinDesk
The SEC to Get Sanctioned in DEBT Box Case
Summary: The US SEC was sanctioned by a US district judge after being accused of gross abuse of power in the DEBT Box case.
Details: US District Judge Robert Shelby sanctioned the US Securities and Exchange Commission (SEC) after the agency was accused of misconduct in a legal action against crypto firm DEBT Box.
The judges decision comes after he determined that the SEC committed a gross abuse of power while handling the DEBT Box case. The Utah-based crypto company accused the SEC of misrepresenting key facts to obtain a temporary restraining order and freeze the companys assets.
Source: CryptoPotato
Genesis to Settle for $21 Million in SEC Case
Summary: Bankrupt crypto company Genesis settled with the US SEC and will have to pay $21 million as part of the settlement.
Details: Genesis settled with the US Securities and Exchange Commission (SEC) over charges of conducting unregistered offers and sales of securities through Gemini Earn, a project developed by Gemini crypto exchange in collaboration with Genesis.
According to the settlement, Genesis will have to pay $21 million. The decision comes after Tyler and Cameron Winklevoss, Geminis founders, announced that their company will repay $1.1 billion to Gemini Earn customers.
Source: Crypto Daily
Solana Meme Coin Accidentally Burned $10 Million
Summary: A Solana meme coin lost $10 million due to part of its tokens being burnt by a project developer.
Details: Slerf, a new Solana-based meme coin, lost $10 million after a developer accidentally burned a significant part of the token supply. According to the developer, who uses the @Slerfsol handle on X (Twitter), they burned the LP and the tokens that were set aside for the airdrop.
Despite the major loss suffered by the newly launched Solana meme coin, Slerfs price increased surprisingly shortly after. At the same time, its trading pair on Raydium reached billions of dollars in trading volume.
Source: Yahoo Finance
Sequence Partnered with Google Cloud
Summary: Sequence Web3 game development company announced a partnership with Google Cloud that will make building blockchain-based games significantly easier.
Details: Web3 game developer Sequence announced a new strategic partnership with Google Cloud. The partnership will focus on bringing Web3 gaming tools and solutions to Google Cloud users. This way, Sequence aims to reduce the complexity of Web3 technology by offering its gaming solution to all those using Google Cloud.
Through the partnership between Sequence and Google Cloud, users will be able to use Sequence Builder, which is a platform that enables Web3 and Web3 game developers to integrate blockchain-based elements in their projects.
Source: CryptoNews
Nigerian Authorities Ordered Binance to Disclose All User Data
Summary: Binance was requested by Nigerian authorities to provide Nigerian users data and information after being accused of conducting activities that contain elements of criminality.
Details: Binance, the largest crypto exchange by trading volume, was requested by a Nigerian High Court to offer the EFCC (Economic and Financial Crimes Commission) detailed information related to Nigeria-based Binance users.
The request comes after the lawyer representing the anti-graft agency contended that Binances activity in Nigeria may contain elements of criminality. The directive was given in an interim ruling delivered by Justice Emeka Nwite following an ex parte motion filed against Binance by the EFCC.
Source: Cointelegraph
Robinhood Launched a Wallet for Android
Summary: Robinhood announced the launch of its wallet as a mobile app available on Android devices worldwide.
Details: The Robinhood crypto project launched a mobile app for its crypto wallet that will be available for Android users from all over the world. The main goal of Robinhood is to contribute to crypto adoption while establishing itself as one of the most trusted and user-friendly crypto platforms in the market.
Android users can now download the Robinhood wallet app and store, manage, send, and receive numerous cryptocurrencies, including the most popular and widely used, such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Polygon (MATIC), Base (BASE), and many more.
Source: BSC News
Do Kwon Has Been Released in Montenegro
Summary: Do Kwon has been released from prison while Montenegrin authorities decide whether to extradite him to South Korea.
Details: Terra founder Do Kwon was released from the Montenegrin prison while the Supreme Court discusses the extradition requests made by both the United States and South Korea. The unexpected decision comes after the Supreme Court refused Do Kwons extradition to South Korea.
Do Kwon, who is the co-founder of bankrupt Terraform Labs, was held in a Montenegrin prison after he was caught while trying to escape the country. At the moment, the Supreme Court has to review a decision that could grant or deny extradition to South Korea, Do Kwons native country. Until a decision is made, Do Kwons passport will be held back to prevent him from leaving Montenegro.
Source: Cointelegraph
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