Top news this week
Ethereum’s Shapella hard fork runs on the mainnet
The mainnet of the Ethereum blockchain, also known as the Beacon Chain, implemented the Shapella hard fork on April 12. The update made withdrawals possible for those who have staked the network’s Ether (ETH) asset. In the first hour of the hard fork, a total of 12,859 Ether were unlocked in 4,333 withdrawals, according to Ethereum block explorer beaconchai.in. Almost a day after the update, ETH broke above the $2,000 price.
FTX Has Recovered $7.3B In Assets, Will Consider Rebooting Exchange
A comeback for FTX is on the table, according to the bankrupt crypto exchange’s legal team. In an April 12 hearing, FTX lawyers said the company had already recovered around $7.3 billion in liquid assets and was considering restarting its cryptocurrency exchange operations in the second quarter of 2024, suggesting a restart to starting in april. After the news, the FTX token (FTT) surged more than 112%. Meanwhile, in Europe, a Swiss court has approved the sale of the company’s European operations.
OpenAI finds new support from Japan amid global bans across the country
Japan is interested in potentially using technology from the artificial intelligence (AI) team OpenAI, the creator of the ChatGPT chatbot, depending on solving problems related to cybersecurity and privacy. Japan’s Chief Cabinet Secretary Hirokazu Matsuno expressed interest in him. Sam Altman, CEO of OpenAI, aims to work with Japan to develop technology for the country. However, OpenAI has faced opposition from several countries. The AI race has also picked up pace this week with Amazon, Alibaba and Twitter all working on their own AI initiatives.
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Mastercard Launches NFT-Controlled Musician Accelerator Program
Mastercard is one of several traditional financial companies that have ventured into the Web3 arena in recent years. Most recently, on April 12, the company announced its new artist accelerator program with a Web3 twist: the program is controlled by NFTs and therefore only accessible to holders of their Mastercard Music Pass NFTs. The NFT is limited edition and free until the end of the month for musicians and fans alike, while the program was created in partnership with Polygon.
Winners and losers
At the end of the week, Bitcoin (BTC) I sat down $30,439Ether (ETH) in $2,105 and XRP in $0.52. Total market capitalization is $1.28 trillion, according to CoinMarketCap.
Among the largest 100 cryptocurrencies, the top three altcoin gainers of the week are Injective (INJ) at 54.92%, Red WOO (COURT) at 46.91% and Arbitrum (ARB) at 42.04%.
The top three altcoin losers of the week are Enjin Coin (ENG) at -6.49%, basic attention token (BAT) at -2.89% and New BitTorrent (MTB) to -1.19%.
To learn more about cryptocurrency prices, be sure to read Cointelegraph’s market analysis.
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From director of the United States Mint to the first Bitcoin IRA customer
most memorable quotes
“If we want a strong US dollar globally, a US dollar stablecoin is one way to see that happen.”
Denelle DixonCEO of the Stellar Development Foundation
“Bitcoin is a gaming token and has no intrinsic value.”
Warren BuffettCEO of Berkshire Hathaway
“There is a very natural tendency to borrow traditional financial industry regulations to apply to cryptocurrencies. Crypto is different from banks and traditional financial industries.”
chang peng zhaoBinance CEO
“(NFT collaterals) will provide a sense of security and trust, which will encourage more non-native crypto users to join the Web3 space with minimal risk.”
Jorge BasiladzeCEO of Wert
“The path of innovation and technological change has never been easy.”
Paul ChanHong Kong financial secretary
“There is no difference in privacy or surveillance whether you are using your Visa card or a CBDC.”
aaron kleinformer Chief Economist of the US Senate Banking Committee
prediction of the week
Bitcoin Price Climbs Above $31K as Ethereum Earns ‘Alt Season’ Calls
Bitcoin enjoyed positive action this week, breaking above the $31,000 price level, according to Cointelegraph’s BTC Price Index. Michaël van de Poppe, CEO and founder of trading company Eight, pointed out some price points of potential interest.
“Bitcoin looks strong but will have some superficial corrections in an uptrend,” he noted in an April 14 tweet. “I have marked $31.7-32K as a major resistance point.”
“However, $25K was the level that everyone wanted to buy. This will probably change to $28.5K, and then no one will buy. I would rather focus on $29.7K,” added van de Poppe.
The native Ethereum blockchain asset, ETH, also enjoyed positive price action during the week. Excitement was expressed this week at the potential prospect of some sort of alt season in the crypto community.
FUD of the week
Hacker mints 1 trillion yUSDT after exploiting old Yearn.finance contract
A hacker exploited an old Yearn Finance contract, creating a massive amount of stablecoin tokens and USDT, according to blockchain security firm PeckShield. The hacker traded the yUSDT for other stablecoins, allowing them to grab $11.6 million worth of stablecoins. At least 1000 Ether ($2 million) has been transferred to the Tornado Cash cryptocurrency mixer.
Bitrue Crypto Exchange Suffers $23M Hack Due to Hot Wallet Exploit
US court issues subpoena to Tron’s Justin Sun, threatens trial by default if no response
A United States court has issued a subpoena to the Singapore address of Tron founder Justin Sun in connection with a Securities and Exchange Commission (SEC) civil case. In March, the SEC filed a civil lawsuit against Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry for “orchestrating the unregistered offer and sale, manipulated trading, and unlawful promotion” of Tron TRX as a crypto asset security. Sun will face a “judgment by default” if he does not contact SEC attorney Adam Gottlieb within a certain period of time.
Best Cointelegraph Features
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Why join a blockchain gaming guild? Have fun, win and create better games.
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Pro-XRP Lawyer John Deaton ’10x More In BTC, 4x More In ETH’: Hall of Flame
Former aspiring rapper and pro-XRP lawyer John Deaton predicts that XRP will surpass its all-time high if Ripple wins the SEC lawsuit.
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