POKKET: Crypto Market Update (Aug 7)

crypto news, bitcoin price

Bitcoin is +7.4% to $43,350, ETH is up +5.2% to $2900. Movers are FIS +34%, AUDIO +21%, HOT +17%, BZRX +15%, DOCK PNT +13%, DENT +12%, TRU -23%.

Brian Brooks has resigned as Binance US CEO after only three months, as pressure mounts on the exchange from regulators.

In the latest developments around the US Infrastructure Bill, according to the Washington Post Janet Yellen appears to be the reason for an abrupt change in a Senate debate over the definition of ‘broker’, pushing to keep it vague. The 74yr old boomer has tried to do a similar move back in December when trying to push for an onerous tax proposal for the crypto industry, which FinCEN and the previous administration blocked.

The SEC has charged the Tim Draper backed DeFi project ‘DeFi Money Market’ for illegally raising $30M on unregistered securities, seen as a first attack against DeFi tokens – the settlement reached is a fine for two executives of $125k each, and the return of $12.9M to investors. SEC’s Hester Peirce, known to be relatively lenient towards the crypto industry, called the project a ‘DINO’, acronym for ‘Decentralised in Name Only’.

In the latest ‘hack’, Popsicle Finance saw one of its liquidity pools drained of $20.7M in an apparent security flaw which Solidity experts say was avoidable.

A new NFT project has popped up to allow owners to lend out their CryptoPunks and other NFTs for social clout, for those who won’t just take a jpeg.

Lastly, to leave you with some FOMO – someone who bought a CryptoPunk back in 2017 for $443 has just sold it for a whopping $4.4M in Ethereum.

Check out today’s interest rates at POKKET and earn interest on your crypto with our crypto savings account.


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