This was a relatively quiet week in code, following the drama caused by last week's tariffs. Bitcoin remained stable at around $84,000. Coindesk 20, which tracks around 80% of the market, has risen by around 4% over the past seven days. In other words, there was nothing historical.
Still, a lot happened. On Tuesday, many of Crypto went offline due to technical issues on AWS, indicating that a decentralized economy is not always that decentralized. Shaurya Malwa reported the news early. Omkal Godball reported that Bitcoin and other major cryptography slipped into bad news for Nvidia.
Mantra, a project focusing on real-world assets, has lost 90% of its value. The explanations were varied (the company says it was due to a “forced liquidation” exchange).
Meanwhile, Eigenlayer, a leader in redevelopment, has deployed a “new” feature to address security concerns (reported by Sam Kessler). A massive exchange, OKX has announced plans to set up a $500 million settlement with the SEC in California for a claim that previously operated without a gold sender license. Cheyenne Ligon had that story.
In that good news, Kraken fired “hundreds” of staff ahead of the expected IPO. Coinbase was caught up in a “frontrunning controversy” linked to a token with a mysterious name in its base L2. Privacy advocates responded with caution to rumors that Binance was trying to abolish Zcash after the value of privacy coins had declined for a long time.
In DC News, Jesse Hamilton reported on a new wave of crypto lobbyists overflowing the capital. Some people asked if there are currently too many trading groups and if they are all effective.
Friends with Benefit, Creative Technologist's Buzzy Social Club, has launched a new program to build Web3 products for music, film, publishing and other fun activities. (I wrote that.)
Of course, there was a lot going on in the economy and the market (a disgust at Trump's Powell chair feeding his anxiety). But with cryptography, as usual, it was pretty much business. The property won, the property lost, and the fate was postponed.
