Crypto Trends Weekly July 2 – 8

    11 Jul 2022

    Breaking crypto news from the last week (July 2 – 8, 2022):

    July 2: European authorities have reached a milestone deal to regulate the trading of crypto assets in the bloc, to rein in what lawmakers call the “wild west” of financial markets. These standards are designed to protect consumers and increase transparency from companies.

    July 3: North Korean hackers are most likely behind an attack last week that stole as much as $100 million in cryptocurrency from a US company, digital investigative firms have concluded. Analysis suggests the hack is the work of the Lazarus Group, the Pyongyang-backed group behind a similar $622 million hack of Axie Infinity.

    July 4: As the Turkish lira has been losing its power, citizens have been turning to crypto. While Turkey’s annual inflation rate has reached 78.62%, the BTC volume of local P2P trading has increased significantly in Q1 and Q2 2022, compared to Q4 2021.

    July 5: Сrypto lender Nexo has signed a term sheet with Vauld to explore an all-equity acquisition of the company. Nexo said it plans to restructure the company and pursue an expansion in Southeast Asia and India. Before, Vauld paused operations and said it was exploring restructuring options due to “financial challenges.”

    July 6: Binance, the world’s largest crypto exchange by trading volume, said it would remove Bitcoin trading fees for its 13 trading pairs.

    July 7: After Ethereum’s price declined above 78% since November’s all-time high, just 17% of Ethereum 2.0 stakers are currently in profit, the Glassnode report revealed. Also, the number of deposits into the Ethereum 2.0 contract has fallen in the last few months.

    July 8: Grayscale, the world’s largest digital currency asset manager, has announced rebalancing its Fund Components for the second quarter of 2022. However, the organization revealed it removed some crypto tokens from its portfolio.

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