TotemFi’s: Crypto Weekly

Last week saw Coinbase airing first crypto ad in Super Bowl history, crypto prices mostly falling over the past week, US Department of Justice seizing 94,636 Bitcoin, and last two Bored Ape founders step forward.

‘Crypto Bowl’

A man takes a photo of SoFi Stadium ahead of Super Bowl LVI between the Cincinnati Bengals and Los Angeles Rams on February 10, 2022 in Inglewood, California.

Airing last night, the Super Bowl featured commercials for multiple crypto exchanges, including FTX, eToro, Coinbase and Crypto.com.

Coinbase got things started with a commercial that featured a screensaver-style QR code flying around the screen near the end of the first quarter. While the Coinbase website was reported to be down for some users, the QR code allowed viewers who didn’t already have an account to collect $15 in Bitcoin.

While the Super Bowl advertising introduced well-known crypto firms in front of new audiences, crypto’s expanding prominence in the mainstream market had been growing long before these commercials. Just recently, Crypto.com paid $700 million for naming rights to L.A.’s Staples Center.

Crypto Prices

Despite the fact that market leaders Bitcoin and Ethereum both experienced double-digit overnight increases last week on multiple days, every top 30 cryptocurrency was down from Friday due to a 4.5 percent loss in crypto’s worldwide market value over the last 24 hours.

There were a few encouraging signals of mainstream crypto acceptance around the world;

  • Russia plans to introduce a new draft law on February 18 to regulate crypto as the country takes its first steps towards recognizing digital assets as currency.
  • The Canadian arm of giant global accounting network KPMG announced that it’s added Bitcoin and Ethereum to its corporate treasury.
  • EU finance chief Mairead McGuinness said at a fintech conference that the European Union will introduce a digital euro bill early next year.

The US Department of Justice seizes 94,636 BTC

Last week, the U.S Department of Justice (DOJ) seized $3.6 billion worth of Bitcoin from a couple in New York. The stolen funds date back to a 2016 hack of the cryptocurrency exchange Bitfinex — which accounts for 80% of the $4.5 billion stolen in 2016.

On Tuesday morning, federal agents in New York arrested Ilya “Dutch” Lichtenstein and his wife, Heather Morgan, in Manhattan. The couple faces charges of money laundering conspiracy and conspiracy to defraud the United States.

“Today’s arrests, and the department’s largest financial seizure ever, show that cryptocurrency is not a safe haven for criminals,” Deputy Attorney General Lisa Monaco said in a statement.

Remaining two Bored Ape founders unmask themselves

Following a Buzzfeed investigation, two of the four anonymous creators of the successful Bored Ape Yacht Club NFT collection were uncovered. Last Tuesday, the remaining two members revealed themselves voluntarily.

The founder known as “Emperor Tomato Ketchup” goes by Kerem in the offline world.

And “Sass” is named Zeshan.

Make sure to follow us on Medium for weekly Crypto Updates!

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Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

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TotemFi

TotemFi

Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

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