Crypto weekly: A trader burned several cryptocurrencies worth $8 million; NFT Trader Earn $1.5 Million

Welcome to our cryptocurrency events review. The last few days were full of interesting news from the world of digital assets. Next week also promises to be full of events that may affect the overall market picture.

Review of the past week:

August 7, 2023 PayPal Launches a Stablecoin in Latest Crypto Payments Push.
The PYUSD token is fully backed by dollar deposits, short-term Treasury bills and similar cash equivalents. Read more
August 7, 2023 NFT Trader Fools Copy Trading Bot to Earn $1.5 Million on Blur Marketplace.
Trader Hanwee Chang noticed that his bid strategy on Blur was being replicated by a large wallet and performed a clever manipulation. Read more
August 7, 2023 Receives Major Payment Institution License from Monetary Authority of Singapore.
Blockchain․com received a license from the Central Bank of Singapore – now the company will be able to provide services related to transactions with digital assets. Read more
August 8, 2023 US Fed clarifies process for banks to transact in stablecoins.
The US Federal Reserve announces a program to supervise banks and financial institutions that work with cryptocurrencies and blockchain. Read more
August 8, 2023 Burns 2,500 ETH ($4.5M) In Unexplained Move.
A user sent 2,500 ETH ($4.5 million) to an unmonitored zero address (burn address). Subsequently sent another 36,188 GMX ($1.78M), 311,003 GNX ($1.52M) and 4 NFT BAYC. Last year, this user was at the top of the earnings leaderboard on Binance – earning over $20M on a GMT long and then deleted the account. Read more
August 9, 2023 A US Bank Holds $170 Million in Crypto.
San Francisco-based SoFi Bank, which has more than 6.2 million customers, said in a report  that it holds $166 million worth of crypto. Read more
August 10, 2023 Boyaa Interactive has decided to buy $5 million worth of BTC and ETH.
The Group’s purchases of relevant cryptocurrencies will be funded by the cash reserves generated from the Group’s operations in Hong Kong and overseas, and will be made at the Group’s discretion in accordance with the market conditions. Read more
August 11, 2023 Cathie Wood’s Ark 21Shares Bitcoin ETF Application Decision Pushed Out by SEC.
The regulator is reviewing more than a dozen spot bitcoin and ether future ETF applications. Read more


What’s coming up for us this week:

August 15, 2023 U.S. retail sales.
A measure of consumer spending, also correlates with consumer confidence and is seen as an indicator of the pace of the U.S. economy. Read more
August 16, 2023 Publication of FOMC Minutes.
Minutes of the Federal Open Market Committee (FOMC) meeting. The minutes reflect the FOMC’s position on monetary policy in detail, so currency traders are scrutinizing them in search of guidance on future interest rate decisions.
Read more

Don’t miss out with our newest updates! 🚀

✅ Reduced trading fees: From August 1, 2023 our commission is only 0.06% (previously 0.075%). Trade more profitably with Fybit!
✅ Higher affiliate payouts: Now you can earn up to 60% more by referring friends and colleagues to Fybit. Increase your earnings with us! 🤝

With each new week, the cryptocurrency market offers new opportunities. With our updates, you get even more advantages for successful trading. The key to success is to start right now.

Best regards,
FYBIT team

Previous articleHow Long Does It Take to Hack Your Password? Fybit’s Protective Measures
Next articleExperienced Analyst Claims: “Cardano (ADA) is Preparing for a Big Breakout” – Gives Date