Bitcoin plummeting and the rise of AI tokens. Highlights of the week

Bitcoin plummeting and the rise of AI tokens. Highlights of the week

Author: Robert Strickland

Bitcoin plummeting and the rise of AI tokens. Highlights of the week
Visa had a test run of SWIFT payments in stablecoins, Kraken exchange shut down stacking in the U.S. and will pay a $30 million fine, NFT-service from Vkontakte introduced blockchain support TON and other events of the past week

  • Monday

Bitcoin rate fell by more than $1 thousand and dropped below $23 thousand

The value of the first cryptocurrency over the weekend fell by $1.3 thousand.

Visa conducted a trial run of payments in stablecoins in the SWIFT system

The payment company is working to implement the possibility of converting cryptocurrencies into fiat money and back into its system

Huobi opened trading of FTX customer debt token

The Justin Sun-led platform has listed FTX Users' Debt, a cryptocurrency representing token bonds issued, according to the developers, on behalf of creditors of the bankrupt exchange

  • Tuesday

BIS will begin developing a stablecoin monitoring system

As part of the project, the Bank for International Settlements will create a platform to monitor the financial reserves of stablecoins and to identify discrepancies on the balance sheets of their issuers

VKontakte's NFT service has implemented support for TON blockchain

Enterprising users of the social network began offering services to install digital tokens on avatars for 500 rubles.

UK will give up to 2 years for illegal crypto-advertising

The U.K. financial regulator has warned cryptocurrency companies that they should be prepared for new rules promoting products and services related to digital assets

  • Wednesday

The trading volume of AI-related tokens rose 700% in a week

Analysts attribute the rise in artificial intelligence crypto projects to the popularity of the technology among large companies, including Microsoft and Google

A mining center worth 900 million rubles will be opened in Buryatia

The capacity of data processing center under construction on the territory of Republic of Buryatia will amount to 100 MW

Dubai banned the issue of anonymous cryptocurrencies and transactions with them

The use of coins that "interfere with transaction tracking," such as Monero and Zcash, is banned by a new digital asset document

  • Thursday

Bitcoin network activity rises to highest since spring 2021

Analysts cite the emergence of the ability to upload, store and sell NFTs in the blockchain of the first cryptocurrency as the reason for the increase in network activity

Cryptoservice LocalBitcoins reported a shutdown

Users of the P2P platform will be able to withdraw their assets within a year


  • Friday

Kraken exchange shut down stacking in the U.S. and will pay a $30 million fine there

The crypto platform has agreed to pay a $30 million fine to settle a case involving improperly registered investment products

Bitcoin exchange rate dropped below $22 thousand

The first cryptocurrency has fallen in price by 3.5% in the past 24 hours

Bloomberg: U.S. regulator began an investigation into the issuer of Binance USD stablecoin

The purpose and scope of the investigation is still unclear. The New York State Department of Financial Services said it could not comment on ongoing work on the issue


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What is Bitcoin Dominance
Which Countries Hold the Most Bitcoins
In June, German authorities transferred thousands of confiscated bitcoins to exchanges
JPMorgan: Payments to Customers of Bankrupt Crypto Exchanges Will Balance Each Other Out