It’s Friday and that means it’s time for a weekly Cryptonoticias roundup! As always, we are going to tell you quickly and entertainingly everything you need to know about what happened in recent days. Although this year, it seems that the action around cryptocurrencies is happening more inside the courts than on the blockchain itself. You want to know why?
After Sam Bankman-Fried, former CEO of the bankrupt FTX exchange, was taken to court on various wrongdoing and fraud allegations, it seems that justice is taking a closer look at the world of cryptocurrencies. In addition to the Ripple vs. SEC case that has been going on for several years, Coinbase was recently indicted for illegal sale of securities, although the lawsuit was dismissed by the judge.
And since we are talking about our good friend SBF, we will soon know the answer to one of the big questions that arose after the scandal of his
On the other hand, crypto-related frauds are also in the eye of justice recently. The founder of the My Big Coin token faces a sentence of 100 months in prison. And even if you are one of the most famous Youtubers in the world, you cannot be exempt from this. Since Logan Paul himself was sued for a fraud case related to non-fungible tokens (NFTs).
Let’s review how the cryptocurrency market has performed this week. It appears that the bullish momentum managed to hold through the entire month of January. This is great news for investors, after a year 2022 in which absolutely everything went wrong.
BNB, the native cryptocurrency of Binance, the world’s largest exchange, is showing great performance. Since it rose a total of 45% the last 6 weeks. For its part, Bitcoin remains above $23,000, which has proven to be a good sign of strength despite some temporary market turmoil. Ethereum is in a bullish flag, our trading expert explains, and it looks like there is strong resistance at the $1,700 mark.
One of the tokens that has attracted the most attention this week was MINA, which has led the market, rising 32%. Also, for our Cardano-loving readers (of which we know there are many), we have good news. Since its algorithmic stablecoin, DJED, has been officially launched.
ALGORITHMIC STABLECOIN??!! DID THEY LEARN NOTHING AFTER WHAT HAPPENED WITH LUNA?… Relax! DJED has the particularity of being overcollateralized, that is, it has much more value as backing than its stablecoin in circulation. In fact, DJED reached $10 million TVL just 24 hours after launching, which speaks to investor confidence in the project. Let’s just pray that good old Charles Hoskinson doesn’t end up being the new Do Kwon…
