Prime tales of this week
SBF's $250 million bail bonds needs to be launched, the choose mentioned
UK Treasury Releases Crypto Framework Paper: Here's What's Inside
The UK Treasury has released a long-awaited consultation paper for its upcoming crypto regulation. The document covers a wide range of topics, from algorithmic stablecoins to non-fungible tokens and initial coin offerings. The agency aims to level the playing field between crypto and traditional finance by including digital assets in the UK's Financial Services and Markets Act 2000.
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Play2Earn: How blockchain can bring about a paradigm shift in building gaming economies
Celsius publishes a list of users who are eligible to withdraw the majority of assets
Bankrupt crypto lending company Celsius developed a withdrawal process for users who had funds in its custody in June 2022, when the company halted withdrawals. Celsius has released an official update on upcoming withdrawals, providing the list of users who are eligible to access approximately 94% of qualifying depository assets. Users will also get specific details on gas and transaction fees related to the upcoming proceedings.
Silvergate faces a DOJ investigation into dealings with FTX and Alameda
Meta CEO Zuckerberg sticks to Metaverse plans despite $13.7 billion setback
Winner and Loser
Bitcoin at the end of the week (Bitcoin) is at $23,572ether (ETH) at $1,661 And XRP at $0.40. The total market capitalization is at $1.09 Trillion, after to CoinMarketCap.
Among the many high 100 cryptocurrencies, the highest three altcoin gainers of the week are Render Token (RNDR) at 94.86%, dYdX (DYDX) at 45.84% and ImmutableX (IMX) at 43.41%.
The highest three altcoin losers of the week are UNUS SED LEO (LION) at -12.30%, eCash (CHECK OVER) at -5.50% and Toncoin (TON) at -5.30%.
For extra data on crypto costs, see Cointelegraph's Market Evaluation.
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Most Memorable Quotes
"Regulators are rightly going to be taking a look at this trade a lot, far more carefully, which might be an excellent factor, to be trustworthy."
Changpeng "CZ" ZhaoFounder and CEO of Binance
"The truth that each the SEC and CFTC have taken motion towards market manipulation by an alleged rogue dealer is optimistic credit score to your entire trade."
Cristiano VentricelliAffiliate Vice President, Decentralized Finance at Moody's Investor Service
"Not one of the alerts I've seen to date point out that we must always change Actuality Labs' technique in the long run."
Mark ZuckerbergFounder and CEO of Meta
"Behind the scenes, Celsius ran its enterprise in a really totally different method than the way it marketed itself to its clients in each method that issues."
Shoba Pillayformer federal prosecutor and associate at Jenner & Block
"We consider that bitcoin mining is at present being unfairly focused and double taxed by the IRS."
Dennis PorterCEO of the Satoshi Motion Fund
"[Bitcoin is] not an efficient retailer of wealth. However we reside in a world the place cash as we all know it's in danger.”
Ray Daliobillionaire investor and entrepreneur
forecast of the week
$25,000 Bitcoin Now Crowd Traded
The Federal Reserve hiked rates of interest by 0.25% this week, consistent with virtually all expectations, which precipitated the BTC/USD pair to surge above $24,000 for the second time in as many days, with market members nonetheless at one Hoping for a run as much as $25,000 earlier than hitting one other charge vital pullback.
“BTC had a clear breakout above its macro downtrend line + backtest,” defined funding analysis useful resource Sport of Trades on Twitter, including that “the following main resistance to interrupt is the $25,000 area is".
Pseudonymous dealer Crypto Tony conceded that the goal might now not materialize. "$25,000 is my important purpose however I am seeing lots of people asking for it now and it is turning into a crowded deal," he wrote.
FUD of the week
BonqDAO protocol suffers $120 million loss after Oracle hack
Bithumb owners arrested in South Korea for alleged embezzlement
Kraken is closing Abu Dhabi office and ending support for AED
Crypto exchange Kraken has shut down its Abu Dhabi office less than a year after receiving regulatory approval to operate in the region. According to the company, existing users will still have access to the platform with other fiat currencies. Several employees are also expected to remain in the area. The move to the Middle East comes after Kraken announced plans to cut its workforce by 30% — more than 1,000 people — to survive the crypto winter.
Best Cointelegraph Features
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editorial staff
Cointelegraph Magazine writers and reporters contributed to this article.