Many cryptocurrencies were in the red earlier last week but began to rally on Thursday after First Republic Bank released its quarterly report, which suggested that the firm’s financial health was not okay. However, as of this writing, most of the crypto assets appear to have lost their 7-day gains.
Besides the banking crisis, Artificial Intelligence (AI) technology was also discussed on Crypto Twitter. Pop artist Grimes began the conversation when she asked her followers if any of them could make a hit song using her AI-generated voice in exchange for 50% royalties. The singer stated that the royalties would only be issued using smart contracts.
Meanwhile, Binance CEO Changpeng Zhao disputed a report by Bloomberg that claimed he is worth over $28 billion. The crypto guru called out the news outlet for spreading fake news. He said his net worth was nowhere near the stated figure.
On Tuesday, CoinCentre’s director of communication, Neeraj Agrawal, tweeted that the firm was looking to raise legal fees to help Bitcoin developers defend themselves against Craig Wright’s lawsuit that wants them to be held accountable for any illegal transactions that happen on the blockchain. Wright is an Australian software engineer who has for long claimed to be the founder of Bitcoin.
Binance.US-Voyager Purchase Deal Falls Through
That day, fallen crypto lender Voyager wrote that the purchase deal it entered with Binance.US had collapsed. Binance’s American subsidiary struck a deal with Voyager last year to acquire the lender’s assets, but the firm claimed it backed away from the deal due to regulatory uncertainty in the United States.
Following rumors that bankrupt crypto exchange Mt.Gox was cooperating with the United States government to dump the firm’s Bitcoin holdings, the analytics company Glassnode provided a link (glassno.de/41lm9qo) for the crypto community to monitor the movement of the Bitcoin in question.
Meanwhile, FTX creditor Sunil wrote on his Twitter handle that many crypto enthusiasts may have been affected by the 2022 crypto winter, but it was a good year for lawyers. Sunil shared a report indicating lawyers had collectively earned nearly $300 million from bankruptcy cases.
On Thursday, blockchain observer ZachXBT exposed a fraud developer who has been rug-pulling investors using more than a hundred memecoins. ZachXBT disclosed that for the last one and a half months, stolen funds collected from investors of the said memecoins had been transferred to the same deposit address.
That day, a Twitter account named ‘Bitfinexed’ revealed that Coinbase CEO Brian Armstrong has been selling his shares in the company. Bitfinexed called those buying the shares dumb, claiming that the exchange will likely lose its ongoing cases causing the stock price to plummet.
Tornash Cash Developer Released on Bail
On Friday, Tornado Cash founder Alexey Pertsev made a comeback on Twitter following his release on bail. Pertsev was arrested by Dutch authorities last August on allegations that his coin mixer helped criminals launder money. His first tweet asked his followers to bring him up to speed.
Finally, tech guru (@Odin_Free) shared a report that showed over 60% of ETH held in crypto exchange Kraken had been withdrawn since the Securities and Exchange Commission brought charges against the firm.
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