Crypto Trends Weekly Aug. 5 – 12

Breaking crypto news from the last week (Aug. 6 – 12, 2022):

Aug. 6: Messari’s latest report indicates that the market pullback in the first half of 2022 did not shake investors’ confidence in the growing crypto industry. As per the report, the overall amount of money raised in the first six months already exceeds the $30.2 billion that was raised in 1313 rounds throughout the entire year of 2021.

Aug. 7: Luxury brand Tiffany & Co. has jumped into the NFT world with a collection of limited edition Ethereum-based tokens and corresponding CryptoPunks-themed jewelry. Priced at 30 ETH, or about $50,000, the 250 pieces sold out in around 20 minutes, bringing in more than $12.5 million.

Aug. 8: UAE introduced new reporting requirements for real estate transactions involving digital assets. The new rules require all real estate agents, brokers, and law firms to report all property transactions with crypto assets.

The US Treasury sanctions against the crypto mixer Tornado Cash meet criticism from the crypto community. While GitHub, stablecoin issuers and crypto infrastructure providers join the Treasury action, some anonymous troll is sending crypto from a Tornado Cash wallet, trying to “dust” numerous celebrities.

Aug. 9: As Tasnim agency reported citing Alireza Peymanpak, an Iranian official from the Ministry of Industry, Mine, and Trade, the country this week executed its first official order for importing goods via the crypto payment route, worth $10 million cumulatively.

Aug. 10: UAE-based мetaverse company Everdome has announced that GEM Digital Limited, a Bahamas-based digital asset investment firm, has agreed to invest $10 million into Everdome through a structured token subscription agreement.

Aug. 11: Asset management giant BlackRock announced the launch of a private trust that will hold Bitcoin and seek to track the asset’s performance, with Coinbase serving as the trust’s custodian. The news marks a giant leap forward in Bitcoin’s institutional adoption, which brought out a flurry of bold calls.

Aug. 12: Leon Li, the founder of major crypto exchange Huobi Global, is reportedly in talks to sell his majority stake in the company, which could value the firm at over $3 billion. The deal could be one of the biggest in crypto history.