Circling Yellens, Doubling Mellons, Dogging Coins and 20 Crypto Jokes
This cryptoweek, Circle revealed their USDC reserves after three years, and its CEO thought it good that Janet Yellen called stablecoins ‘national security’ concern. Numerous dog-themed coins flooded the market with pumps and dumps, while a Dogecoin fan sued Coinbase for allegedly “misleading” sweepstake ad campaign. Mastercard announced they'll use stablecoins in a simplified crypto payments card offering, and America's oldest bank, BNY Mellon, doubled down on their crypto strategy. Before the market crash, some 70% of surveyed institutional investors planned to buy crypto, and now, in the US, people seem to trust crypto more, while lacking information about it. Elon Musk was in the news again, as he talked BTC with Cathie Wood and Jack Dorsey, and Vitalik Buterin was in the news too, stating it's time to move beyond DeFi. Also he made a cameo in a Kutcher-Kunis video.
A Salvadorian economist hit out at President Bukele after a report claimed that his family has been secretly planning the release of a stablecoin and a crypto wallet, and then demonstrators protested the Bitcoin Law in front of the Parliament. The EC announced "an ambitious package" of legislative proposals that would decrease EU citizens' privacy, and then they clarified what they meant by anonymous crypto wallets. China’s blockchain technology ambitions may be greater than thought, as a media outlet said they saw evidence of the CCP’s blockchain planning, and Beijing lashed out at three US Republican senators who had asked for a block on digital yuan for the US competitors at the Olympics. Meanwhile, Japan's top financial regulator is likely to create new DeFi, NFT, and CBDC regulations, while BlockFi got served with a cease and desist order by the New Jersey AG.
OpenSea turned into a unicorn, FTX was valued almost 20 times more in a recent investment round, Stellar is reportedly mulling acquisition of MoneyGram, footballing giants FC Barcelona could be set to sight up with a crypto-related shirt sponsor, and we looked into how big of a threat to your crypto the scandalous Pegasus spyware is.