Crypto Trends Weekly June 4 – 10

    13 Jun 2022
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    Breaking crypto news from the last week (June 4 – 10, 2022):

    June 4: The Dubai-based real estate developer, DAMAC Properties, has completed cryptocurrency deals worth $50 million since the beginning of 2022, the company’s COO Ali Sajwani revealed.

    June 5: The Federal Trade Commission (FTC), the enforcer of civil US antitrust law, revealed that the investors had lost over $1 billion in crypto-related scams, which have been growing due to a lack of regulations and proper education on digital assets. Bitcoin, Tether, and Ether become the top cryptos involved in scams in the report, while Instagram, Facebook, WhatsApp, and Telegram housed the most scam cases.

    June 6: According to Coinshares, about $506 million has been invested in exchange-traded Bitcoin funds since the start of the year, with $126 million of it flowing into ETPs last week. Contrary, Ethereum-based funds saw outflows for a ninth straight week.

    June 7: Cronos, the DeFi and Web3 gaming-focused blockchain network by Crypto.com, has launched the Cronos Accelerator Program aiming to help developers and builders accelerate the ecosystem’s growth. The Cronos Accelerator Program is funded by the $100 million Cronos Labs Ecosystem Fund to provide investments and guidance to early-stage blockchain projects.

    June 8: According to a survey conducted by Deloitte, over 85% of merchants are giving high or very high priority to enabling cryptocurrency payments. Furthermore, nearly three-quarters of those surveyed reported plans to accept cryptocurrency or stablecoin payments within the next 24 months.

    June 9: The US Securities and Exchange Commission (SEC) is looking into the collapse of the TerraUSD stablecoin and whether its marketing violated federal investor-protection regulations. The lawyers for the SEC are seeing whether Terraform Labs, which is behind the coin, broke the rules for securities and investment products.

    June 10: Bitcoin’s price sank following the latest US Consumer Price Index (CPI) release, which showed that the index had unexpectedly hit 8.6%, reaching its highest level in 40 years.

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