Crypto Week in Review: Massive Funding, Regulations, Scams, and Speculation
A whirlwind week in the cryptocurrency world saw major funding initiatives, regulatory developments, high-profile scams, and dramatic price swings. This recap brings you the key stories.
Strategy Launches $21 Billion Stock Offering
Strategy, a firm focused on Bitcoin, launched a significant $21 billion preferred stock offering to fund its Bitcoin acquisitions. This move underscores the growing institutional interest in the cryptocurrency market.
Pakistan Establishes Crypto Council
Pakistan officially launched the Pakistan Crypto Council (PCC) to regulate digital assets. This initiative aims to foster innovation and enhance financial stability within the crypto sector.
Bitcoin Billionaire’ Found Wanted
Authorities in the United States have declared a California man, Kevin Segal, wanted in all 50 states after skipping court. He is accused of defrauding businesses out of approximately $212,000 and faces a significant prison sentence.
Libra Token Surge Sparks Rigging Allegations
A meme coin, LIBRA, on the Solana blockchain, saw a dramatic surge to a market value of $1.16 billion within an hour before collapsing. Reports suggest possible manipulation by early investors.
Trump-Endorsed Crypto Project WLFI Makes Acquisitions
World Liberty Financial (WLFI), the cryptocurrency venture backed by the Trump family, expanded its portfolio with purchases of AVAX and MNT. The portfolio currently faces an unrealized loss of $115 million.
Coinbase Expands Under Trump Administration (and Other Developments)
Coinbase is continuing to expand its operations under the current administration. Other stories include growing cryptocurrency cooperation amongst Latin American countries, and further developments regarding Binance and its founder.
