Crypto Trends Weekly June 25 – July 1

Breaking crypto news from the last week (June 25 – July 1, 2022):

June 25: Months after getting exploited in one of the largest crypto-related hacks, the team behind Ronin announced the restart. Axie Infinity’s Ronin sidechain is expected to be relaunched next week after the $625 million exploit, ‘with all user funds returned.’

June 26: Qatar is actively exploring the possibilities of launching its first central bank digital currency (CBDC). If this happens, the country will become the first Arab nation to launch a CBDC. Meanwhile, the central banks in Saudi Arabia and UAE are collaborating on blockchain projects in the financial sector.

June 27: Crypto.com has announced the integration of Apple Pay into its mobile app and website. Apple does not support crypto payment directly, but Crypto.com users in the US would be given an option to make the in-app purchases. Purchases can be made with both credit and debit cards through Apple Pay.

June 28: Electronic manufacturer HTC has announced the “Viverse” phone, its first smartphone, designed to navigate the metaverse with incorporated crypto and NFT functionality. The HTC Desire 22 Pro model includes preloaded apps compatible with its own metaverse “Viverse.”

June 29: A British Virgin Islands court reportedly ordered cryptocurrency hedge fund firm Three Arrows Capital (3AC) into liquidation. 3AC must now formally liquidate assets tied to its British Virgin Islands company. It’s still unclear what assets Three Arrows Capital has or what this means for its creditors.

June 30: Bitcoin fell over 5% following the US Securities and Exchange Commission (SEC) rejected the Bitcoin spot ETF proposed by Grayscale. The crypto fund has launched a lawsuit against the SEC after the regulator’s denial. Meanwhile, Jacobi Asset Management announced the launch of Europe’s first Bitcoin ETF on the Euronext Amsterdam exchange.

In the past month, the total volume of NFT trades has fallen by 55% in terms of ETH, or about a 70% decrease when valued in USD, Nansen data revealed. However, the number of weekly active NFT sales hasn’t changed much.

July 1: FTX crypto exchange has signed a deal with an option to buy crypto lender BlockFi for up to $240 million, BlockFi CEO Zac Prince said. Lately, FTX CEO Sam Bankman-Fried and his fund Alameda Research have been seen as a lender of last resort in the crypto space.