News
The biggest cryptocurrency news from the past week
12.18pm ▪ 4 minute read ▪ by Luc Jose A.
Between groundbreaking announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove itself to be both a territory of limitless innovation and a battleground for regulatory and economic struggles. Here is a summary of the most significant news from last week on Bitcoin, Ethereum, Binance and Solana, etc.
The spectacular rebound of stablecoins with a rise of 25%.
Stablecoins recently experienced a spectacular 25% increase in their market capitalization. This notable increase, observed between mid-October and mid-April, reflects a massive influx of capital into cryptocurrencies. Investors use stablecoins as a safe haven during periods of volatility, which demonstrates renewed confidence in the cryptocurrency market. The recent stabilization of the capitalizations of these assets could indicate a waiting phase for investors before new significant moves.
1 Bitcoin per day: El Salvador’s visionary bet for its economic future
Salvadoran President Nayib Bukele reaffirms his commitment to Bitcoin announcing that the country will continue to buy one Bitcoin a day until cryptocurrencies become inaccessible with fiat currencies. Since September 2021, El Salvador has adopted Bitcoin as legal tender and launched a daily purchase program in November 2022 to build long-term reserves. Currently, El Salvador holds 5,748 BTC, equivalent to over $360 million, with a gain of $57 million. The government has also established a cold wallet to protect these holdings. This ambitious strategy reflects El Salvador’s confidence in the economic potential of Bitcoin, despite still limited adoption among the population.
Chainlink revolutionizes fund tokenization with the support of major banks
The Depository Trust and Clearing Corporation (DTCC) has successfully conducted a pilot project on tokenization of funds in collaboration with Chainlink and several major US banks, including JPMorgan and BNY Mellon. The project, called Smart NAV, aims to standardize and accelerate tokenization of traditional assets using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to integrate net asset value (NAV) data across various blockchains. This initiative promises to transform fund management and improve the efficiency of financial transactions through seamless and secure data integration.
5 years in prison for the developer Tornado Cash
Alexey Pertsev, the developer of the Tornado Cash protocol, was sentenced to 5 years and 4 months in prison by a Dutch court for facilitating the laundering of $1.2 billion through his request. This highly controversial decision penalizes Pertsev for allowing malicious use of its open source code for illicit activities, although Tornado Cash is a non-custodial application with no direct control over your funds. This verdict raises questions about the responsibility of decentralized application developers and the implications for the future of cryptographic anonymization tools.
💳Crypto: the revolutionary test between Mastercard and Standard Chartered
Mastercard and Standard Chartered have successfully conducted the first live test of the Multi-Token Network (MTN), carried out as part of the Hong Kong Monetary Authority’s (HKMA) Fintech Supervisory Sandbox. This test focused on the tokenization of carbon credits, using atomic swaps to ensure simultaneous and irreversible transactions. This initiative demonstrates the potential of tokenization to improve the flexibility and security of financial transactions. Mastercard and Standard Chartered thus demonstrate their role as pioneers in the integration of blockchain technologies in the financial sector.
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Luc Jose A.
Graduated in Science Po Tolosa and holder of a blockchain certification consultant issued by Alyra, I returned to participate in Cointribune in 2019. Capturing the potential of blockchain to transform numerous sectors of the economy, I have made a commitment to raise awareness and inform the great public about this constantly evolving ecosystem. My goal is to allow anyone to better understand blockchain and learn about the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to convey the latest technological innovations and to put into perspective the economic and social efforts of this revolution in brands.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.