Last Friday, the People's Bank of China reiterated its complete ban on digital asset trading.
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Related article: The next frontier for US sports betting is cryptocurrencies and blockchain technology
eternal reckoning
cryptocurrency caught up Concerns over the possible bankruptcy of Evergrande, one of China's biggest real estate developers, took global markets by storm on Monday.. Troubled real estate companies have warned banks that they will not be able to make payments on $300 billion worth of debt due this month, sparking a plunge in China's real estate sector. Market analyst Tom Essay said in a note last week that losses could quickly spread to broader markets as experts began warning that a default could trigger a “Lehman moment” in China. It says that it has spread. Over $1.2 billion in crypto futures liquidated According to the analytics platform Bybt, in just one day. Bitcoin plunged more than 10% on Tuesday, hovering around 41,000, pulling other markets along with it.
China tightens the screws on cryptocurrency
As if that wasn't enough, with further blows from the east, Cryptocurrency prices fell again on Friday morning following China's central bank's announcement. repeated Complete ban on digital asset tradingSome experts warn that the harsh words could prompt more countries to take similar measures, while others point out that prices have quickly recovered from such announcements in the past. . The value of global cryptocurrencies fell to a low of about $1.8 trillion by 7:15 a.m. EDT on Friday, just three hours after China's announcement, according to cryptocurrency data website CoinMarketCap. It fell by about 9% within a year, losing $188 billion in market value. Cryptocurrency investor Mike Novogratz is a strong Bitcoin bull. issued The world's largest cryptocurrency may continue its struggle to break above $45,000 again, but warns that “the secular story is as strong as ever.”
NFTS receives approximately $1 billion in support
Two major NFT startups raised a total of $930 million this week.showing signs of continued appetite from venture investors for crypto companies. on tuesday, Sorare, a Paris-based fantasy soccer platform that integrates non-fungible tokens registered on the Ethereum blockchain, Raised $680 million Series B financing led by Japanese conglomerate SoftBank, valued at $4.3 billion. Not only the biggest Series B in European history; Second largest private funding amount among blockchain startupsthis round will help Solare accelerate its growth in the soccer field, expand into other sports, hire new talent, and in the coming months open its first office in the United States (accounting for more than 20% of the company's revenue). ) said its co-founder and CEO. nicholas julia said forbes.
the next day, Dapper Labs said it is best known as the founder of NBA Top Shot, a $683 million online marketplace where basketball fans can buy and sell highlight videos of their favorite players. raised $250 million in funding round led by Coatue, valuation of $7.6 billion. The French company is looking to expand into other professional sports, while Dapper Labs just partnered with Spanish soccer association La Liga, which recently signed a deal with Solare, so the two companies will soon have the same user base. They will be competing for the base.
Blockchain 50 2022 Call for Nominations
In the first three years of the Forbes Blockchain 50, the list of multi-billion dollar companies that are making meaningful use of the technology popularized by Bitcoin have led the way in institutional adoption. Our list often highlights how big companies like Walmart are having an impact.
WMT
other places
JPMorgan announced that major investors are abandoning Bitcoin futures and shifting their focus to Ethereum as expectations for the world's largest cryptocurrency waning.
J.P.M.
Twitter adds Bitcoin chips, further promoting NFTs [Bloomberg]
Kentucky files for emergency cease and desist order against virtual currency lender Celsius [Decrypt]
