1. Bitcoin And Ethereum Slowly Recover Over The Week
The market has seen the downfall of most cryptocurrencies, and of itself in the past time. But some currencies have managed to bounce back from the low positions they were at. Starting with Bitcoin’s over 10% increase within 7 days, bumbing it back above the $20,000 mark and setting it at around $21,000, mulitple other cryptocurrencies have hopped on to the trend.
Etherem was even up by 19%, sitting at $1,189. Other top currencies saw even better rates, with Polygon rose by 59%, Uniswap by 45%, Siba Inu by 43%, and 33% for both Avalanche and Solana. In fact, almost every of the top 30 cryptocurrencies rose by double digits. Many see this as the first step of market’s recovery.
2. Central Bank Of Russia Picks Up The Pace With Digital Ruble Project
The Central bank of Russia is accelerating with its testing precedures in order to boost the progress of the digital ruble project. Russie hopes to be able to officially introduce and issue a digital form of the national currency by the year 2023. Real-life trials are not set to run by April, which means a pace from the original plan.
First Deputy Chairman Olga Skorobogatova shared on the importance of real-life testing with actual users: “Testing of real operations will give us the opportunity to understand what needs to be tweaked and brought to mind, what to refine, what to change. We want to develop a roadmap for the introduction of the digital ruble at the end of next year.”
3. Goldman Sachs Aiming At Acquiring Celcius’s Assets
Crypto users who have been following the news have probably heard of Celcius and the problems this crypto lender has been facing. After suspending users’ activities on its platform, Celcius was reported to be hiring advisor to stop the company from going bankrupt.
“Goldman Sachs is looking to raise $2 billion from investors to buy up distressed assets from troubled crypto lender Celsius,” as said in a recent piece of news. It appears that Goldman Sachs Inc. of America has had their eyes of this suffering business, and seek to seize the opportunity and acquire it for an attractive price.
4. Albania Will Have Crypto Tax By 2023
The authorities of Albania are wraping up with the additional regulations regarding the use of crypto. Taxes on crypto will be imposed starting 2023. This tax only aims at cryptocurrencies and not central bank digital currencies (CBDCs).
More specifically, Albania will be taxing crypto holdings and the income accumulated from virtual assets, which is defined as “a digital representation of a value that can be deposited, traded or transferred in digital form, and that can be used for payment or investment purposes or as a medium of exchange, including but not limited to cryptocurrencies.”
5. Yuga Labs Filed Lawsuit Against Ryder Ripps For Fake Bored Apes
Bored Ape Yatch Club creator Yuga Labs seem to be having a hard time with the Internet, as they just recently had to address a rumor targetting at their reputation, and now Yuga Labs is suing Ryder Ripps, an online ‘provocateur’ for their Bored Ape ripoffs, calling it a “deliberate effort to harm Yuga Labs at the expense of consumers.”