Trading
Analysis
ECB expresses concerns over ‘interconnectedness’ of crypto with financial institutions
The European Central Bank's report said that the full scale of the connection between the crypto industry and traditional finance might be unknown as there are "significant informational and data shortcomings."
Adoption
Central African Republic wants to launch Africa’s first legal Bitcoin investment platform
President Faustin-Archange Touadera has said that the traditional formal economy does give his country a chance to be competitive.
Analysis
Bitcoin, Ethereum lead outflows as crypto investments see red week
The total value of crypto assets under management dropped to to $38 billion, the lowest since July 2021.
Adoption
Fed’s annual report shows most American crypto investors have ‘disproportionately high income’
The report surveyed 11,000 respondents and shows that the financial well-being of Americans is at its highest since the report started.
Adoption
Report: African crypto startups venture funding grows by over 1000% in 2022
Most venture capital funding in the region has gone to fintech companies and crypto exchanges.
Scams
New Zealand Police investigate allegedly fraudulent crypto platform Quwiex
Police investigation into Quwiex revealed that the platform had registered in New Zealand in September 2021, but it appears that all of the information used for its registrations were false.
Stablecoins
Tether remains unshaken despite $10 billion withdrawals in 2 weeks
CryptoSlate data shows that the circulating supply of USDT dropped to $73.3 billion on Monday from the $84.2 billion on May 11.
NFTs
Hacash.Diamonds partners with Neo to mint, promote Proof-of-Work NFTs
HACD is a first of its kind PoW NFT with the goal of becoming a store of value that will exceed Bitcoin.
Stablecoins
Stablegains in hot water after losing more than $40M due to Terra’s collapse
Stablegains allegedly invested investor funds in Anchor Protocol without informing them and lost roughly $42 million when Terra LUNA collapsed along with its UST stablecoin.
Memecoins
Report: Finder’s Panel sees the end of Shiba Inu by 2030
Finders.com conducted a survey asking 36 fintech experts about Shiba Inu and found that 73% of the panelists believe now is the best time to sell the meme coin.
Analysis
Memes in red as Dogecoin and Shiba Inu shed over 80% of their ATH
The crypto market has lost over $700 million as values of digital assets plummet.
Taxes
Report: Crypto traders potentially owe IRS around $50B in unpaid taxes
IRS is interested in crypto as it has added questions about cryptocurrency and digital assets to its US Individual Income Tax Return form (Form 1040).
