Stablecoins
Over $2B BUSD burnt in the last seven days
Binance-backed BUSD has seen its supply shrink by around $5 billion as regulators ramp up their scrutiny of the stablecoin.
Oluwapelumi Adejumo 2 min read
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Analysis
Tencent adds to its host of Web3 offerings
Tencent Cloud announces Memorandums of Understanding with Web3 blockchain partners Ankr, Avalanche, Scroll, and Sui.
Analysis
Reddit Avatar NFTs’ market cap exceeds $35 million
Over 10.6 million NFTs have been minted since the collection's launch on July 2022.
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Adoption
Former Binance executive aims to raise $100M to start crypto adoption focused VC
Bill Qian told Bloomberg he hopes Cypher Capital will focus on nurturing crypto startups across web3 and internet of things.
Analysis
Digital asset investments recorded over $30M outflows in a week
Bitcoin-based investment products saw $25 million of outflows, while short-Bitcoin investment recorded $3.7 million inflows.
NFTs
NFTs jump to 27% of ETH gas usage led by Blur marketplace
The news comes as Blur and OpenSea continue to duke it out over supremacy in the NFT space, with Blur also overtaking OpenSea in volume.
Exchanges
Huobi Token gains 24% as the exchange says it will operate in Hong Kong
HT has reached its highest value since mid-December.
Academia
Over 52.6% of Bitcoin mining now powered by sustainable energy
New research indicates that Bitcoin mining is more sustainable than previously thought, according to analyst Daniel Batten.
Exchanges
Binance takes over 98% of all Bitcoin spot trading volume
Spot trading of Bitcoin on Binance has grown 5% since Jan. 2023, adding to the centralized exchange's dominance.
