GM! Welcome to the inaugural issue of Coinage’s weekly newsletter recapping the top stories in crypto as we look towards the week ahead.
This week: more drama in the banking system, a meme coin rockets its way into the big leagues, and the SEC goes after yet another crypto firm.
Here’s what’s happening in crypto, the week of May 1st.
In Prices…
BTC is down to ~$28,500 after spending the weekend in the mid-$29k range. However, bitcoin is currently experiencing its fourth straight month of gains, its longest streak since 2021, which some analysts are calling a bullish signal.
There’s a new coin in the top 100 cryptos — PEPE Coin. The meme coin, based around the controversial Pepe The Frog meme, is currently trading with a market cap of over $500 million.
In Banking and Regulation…
First Republic Bank was seized by the FDIC over the weekend and sold to JPMorgan Chase. Seems like the big banks are only getting more centralized…
Reminder: The Fed’s May Meeting is this Wednesday. Analysts are predicting another quarter-percentage point rate hike.
The SEC fined Bitcoin kiosk operator CoinME $4 million in connection with a 2017 ICO.
A proposed bill in California seeks to create a legal framework for DAOs. Unfortunately, the bill would rename DAOs to DNPAs (Decentralized Non-Profit Associations), a way less catchy acronym.
Tornado Cash developer Alexey Pertsev tweets for the first time since his release from prison in the Netherlands: “Sorry I was afk for a while, what did I miss? 👀”
In Other Headlines…
Tron’s Justin Sun and Binance’s CZ had a public spat
NFT project Doodles dropped digital apparel alongside Pharrel and Adidas
Terra Classic fans are still trying to make USTC happen
FARE Protocol raised $6M to launch on Arbitrum, despite the fact that none of the buttons on its website work
CoinMarketCap is launching “Killer Whales,” basically Shark Tank but Crypto
NFT Marketplace Blur announced the launch of their Blend NFT lending protocol
That’s everything we’re taking a look at this week!
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Crypto News Round Up, May 1