Hack worth 600M unnoticed for 6 days

Ronin, sidechain of Ethereum, where popular play-to-earn game Axie Infinity runs, was hacked for more than 600M dollars in Ethereum (173 000ETH) and 25.5 million USDC. This makes it one of the biggest hacks in crypto history. What is extremely interesting is the fact that it was hacked on 23rd of March and noone noticed it until 29th of March.

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SEC’s fight with crypto intensifies

The SEC filed a new lawsuit against Jake Paul, citing crypto promotions without disclosing the payment he received for the promotion. Justin Sun is being sued for fraud and market manipulation. The SEC alleges unregistered sales of securities (TRX and BitTorrent). Moreover, Coinbase received a Wells Notice focused on staking and asset listing.

Magic Eden supports Bitcoin NFT trading

Magic Eden has become one of the first major NFT marketplaces to support Bitcoin NFTs (Ordinals). The company aims to leverage the rising interest in Ordinals after over 560,000 inscriptions were made. This is the fourth supported blockchain after Solana, Ethereum, and Polygon.

Texas introduces a Bitcoin bill

Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.

Crypto optimism grows

After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.

Cryptocurrencies continue to skyrocket

Despite the recent rally, the crypto market continues to take off. Bitcoin jumped more than 8%, and Ethereum is up 3.7%.

Arbitrum announces airdrop

Arbitrum (ARB), one of the leading Ethereum Layer 2 networks, has just announced the airdrop of its governance token. The Arbitrum Foundation stated it would happen on March 23rd. The airdrop will give 11.5% of the total supply to eligible Arbitrum users and 1.1% to DAOs that function in the Arbitrum ecosystem.

More market movers

SEC’s fight with crypto intensifies

The SEC filed a new lawsuit against Jake Paul, citing crypto promotions without disclosing the payment he received for the promotion. Justin Sun is being sued for fraud and market manipulation. The SEC alleges unregistered sales of securities (TRX and BitTorrent). Moreover, Coinbase received a Wells Notice focused on staking and asset listing.

EUR/USD rises above 1.0900

EUR/USD rose above 1.0900 after the Fed raised interest rates, the highest since early February. Another Fed’s rate hike of 25bps was delivered, but the US dollar weakened all around the place.

Fed raised interest rates by 25 bps

The Federal Reserve raised interest rates by 25 bps as expected, from 4.75% to 5%. The news pushed Bitcoin to $29,000 and Nasdaq close to $13,000.

Chainlink Labs x PwC Germany

Enterprise blockchain adoption will be sped up thanks to a new partnership between Chainlink Labs and PwC Germany. Chainlink Labs will offer services to traditional businesses who are already working with PwC but have not yet adopted blockchain technology.

Magic Eden supports Bitcoin NFT trading

Magic Eden has become one of the first major NFT marketplaces to support Bitcoin NFTs (Ordinals). The company aims to leverage the rising interest in Ordinals after over 560,000 inscriptions were made. This is the fourth supported blockchain after Solana, Ethereum, and Polygon.

Russia to internationalize Chinese Yuan

Putin advocated for the internationalization of the Chinese yuan, saying that around two-thirds of trade between Russia and China is conducted in yuan and ruble. The president said his country supports the use of the yuan in trade between Russia and countries in Asia, Africa, and Latin America.

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