Crypto Weekly Roundup: Ronin Bridge Hack, Blockchain.com’s $14B Valuation, Solana NFTs On OpenSea, And More

It has been an eventful week in the global crypto space. While the Ronin sidechain of Axie Infinity faced an exploit, robbing it of millions of dollars, crypto exchange Blockchain.com raised its valuation to a whopping $14 billion. Let’s find out more. 

Bitcoin

Kraken exchange users have reported that functionalities for Bitcoin Lightning Network are already available on the platform, despite the crypto exchange targeting the launch for said functionalities at an earlier date.

Anticipation is rising for Apple CEO to announce BTC payments at the upcoming Bitcoin Conference in Miami scheduled for 6 to 9 April. 

Michael Saylor’s MicroStrategy announces that one of its subsidiaries has taken out a loan of $205 million to buy more BTC. 

Grayscale is currently strategizing on launching an ETF for Bitcoin, and reports indicate that it is willing to challenge the SEC should its application for a spot ETF become denied.

DeFi

DeFi protocol Ola Finance suffered a re-entrancy attack that saw some $3.6 million worth of crypto drained from its protocol.

Wave Financial announced the launch of a new fund designed to boost liquidity options for newly created DeFi platforms built on the Cardano ecosystem.

Axie Infinity’s Ronin Sidechain has been exploited, with a threat actor stealing away an estimated $625 million in USDC and ETH.

Hedera Hashgraph opened a DeFi incentive program through the HBAR Foundation, the developers behind its tech.

Technology

Banking giant Citi has signaled that it is quite bullish around the metaverse, predicting that it could grow to anywhere between $8 trillion and $13 trillion by 2030.

LayerZero Labs closed a $135 million Series B investment round led by Andreessen Horowitz, FTX Ventures, and Sequoia Capital.

Shiba Inu developers launched its latest update with “SHIB: The Metaverse,” which it previously announced last month.

Opera launched multichain compatibility with Bitcoin, Solana, and Polygon, through its Crypto Browser project initiative.

The state government of Maharashtra recently announced that it has joined hands with Polygon to issue verifiable caste certificates on its blockchain platform LegitDoc.

Crypto wallet firm MetaMask updated its iOS app, enabling iPhone users to buy crypto with Apple Pay.

Business

Binance became the first-ever official crypto exchange partner of the Grammy Awards for music.

After raising an undisclosed amount in funding from several global VC firms, Blockchain.com’s valuation soars to a staggering $14 billion. 

Dubai’s Citizens School announced that it would accept school fee payments in BTC and ETH, becoming the first school in the Middle School. 

The development team behind the Helium decentralized wireless network (HNT) announced that it would change its trade name to Nova Labs going forward.

Football legend Lionel Messi signed a $20 million deal with Socios.com to become the fan token site’s global brand ambassador. 

The NFL announced that Detroit would host the 2024 draft and revealed that teams would be able to seek out blockchain partnerships with platforms such as Coinbase and FTX. 

Australian crypto exchange BTC Markets is opening up debit, prepaid, and credit card payment options for its customers through the partnership with Mastercard.

A local newspaper reported that Coinbase Global is in talks to acquire 2TM, the parent company of Brazil’s largest crypto exchange – Mercado Bitcoin. 

Regulation

A senior Bank of Japan official commented on the need for a common framework to regulate cryptocurrencies before they “upend” the global settlement system.

According to sources, the Indian government is waiting to devise any set cryptocurrency law till a global consensus emerges on regulating such assets. 

The EU vote could oblige crypto exchanges to report crypto transactions above $1000 from “unhosted cryptocurrency wallets” and collect personally identifiable information.

South Korea’s incoming president Yoon Suk-yeol has vowed to loosen crypto regulations and introduce pro-crypto measures. 

The FCA moved its March 31st deadline for select crypto firms under its jurisdiction in line with some revisions to its guidelines on the registration process.

Vietnam’s Ministries of Finance, Justice, and Information & Communications are coming together to assist the State Bank of Vietnam in developing a legal framework for cryptocurrencies. 

FCA’s high standards for regulatory approval forced multiple UK-based crypto companies to move abroad.

The UK’s finance ministry will release new regulations for cryptocurrencies and blockchain tech across its jurisdiction.

The Austin City Council has passed two resolutions related to crypto assets and blockchain technology.

NFT

Samsung announced that it is launching the world’s first-ever Smart TV NFT Platform in partnership with Nifty Gateway, the NFT marketplace owned by Gemini.

OpenSea teases support for Solana by hinting that Solana NFTs could be coming to the OpenSea NFT marketplace. 

Payments technology firm Visa launched its Creator Program to support select small business owners and educate them on NFTs.

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War alongside an NFT collection titled “Warline.” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.