Crypto Trends Weekly 17 – 23

    26 Jul 2021

    Breaking crypto news from the last week (17 – 23 July 2021):

    17 July: Damien Hirst, one of the world’s most estimated artists, says NFTs are changing the world. In an interview with Cointelegraph, the British contemporary artist compared NFTs to “the invention of paper.”

    18 July: The U.S. Department of State, at the first time, offered to pay a bounty in crypto worth up to $10 million in exchange for relevant intelligence regarding cyberattacks organized by foreign governments.

    19 July: Digital asset manager Grayscale Investments is launching a DeFi Fund and index, as announced by Grayscale CEO Michael Sonnenshein. The new fund joins a growing number of offerings to help investors easily bet on decentralized finance (DeFi).

    20 July: Treasury Secretary Janet Yellen told regulators Monday that the U.S. government must move quickly to establish a regulatory framework for stablecoins, a rapidly growing class of digital currencies. The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months.

    21 July: Major blockchain hosting and digital asset mining company Core Scientific Holding Co. is going public through a merger with Power & Digital Infrastructure Acquisition Corp., valued at around $4.3 billion combined.

    22 July: Decentralized derivatives exchange SynFutures launched the DeFi futures, letting miners hedging against Bitcoin mining difficulty and all the factors affecting their mining returns.

    23 July: Several central banks released announcements this week regarding national digital money. Financial regulators of Canada, India, and Nigeria made moves toward launching their own central bank digital currencies (CBDCs).

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