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These are most important news of the last week

2 min read

Another exciting week in crypto space is coming to an end. The most important events around BTC and Co. at a glance.

Grayscale is suing the SEC

A BTC ETF from Grayscale had to believe it again. The US Securities and Exchange Commission (SEC) once again rejected the corresponding application.

The company now seems to have had enough: Grayscale plans to sue the agency. The asset manager explained that the company had been prepared for this scenario. The legal steps are intended to persuade the SEC to reconsider the decision.

BTC records its worst quarter in 11 years

The second quarter of 2022 was the worst for BTC in the last 11 years. In the period, the biggest cryptocurrency on the market recorded a devaluation of more than 58%, going from $46,750 on April 1 to $19,280, according to CoinMarketCap.

BTC has not seen such a sharp quarterly decline since Q3 2011, when BTC dropped 66.62% – from $15.40 to $5.14.

Just in the last 30 days, that is, in the month of June, the price of BTC has dropped by almost 40%. Furthermore, compared to the maximum price the cryptocurrency reached in November, around $69,000, the drop is already over 71%.

Mass Layoffs at Bitpanda

The news of crypto start-ups that have to lay off employees is almost overturning. Now the Austrian unicorn Bitpanda also spoke about the difficult situation that the young company is struggling with.

Mistakes were made in the “hiring pace,” according to a blog post. According to the current market conditions, 270 employees have to leave the company.

MiCA regulation finally decided

The back-and-forth over an eventual ban on proof-of-work cryptocurrencies – including BTC – has now come to an end. The “Markets in Crypto-Assets” (MiCA) regulation is now done deal.

Money laundering using cryptocurrencies in particular is intended to be curbed by the new regulation. But the directives also address the polarizing environmental debate.

You may also like:EU officials agrees to track crypto transfers

OneCoin scammer on FBI wanted list

Ruja Ignatova is said to have stolen more than 3 billion US dollars from investors through an alleged crypto scam. Since 2017, however, the co-founder of the Bulgarian crypto company OneCoin has disappeared from the scene – and with her every trace.

The FBI now put Ignatova – also known as “crypto queen” – on its list of the ten most wanted criminals. The accusation: Ignatova is said to have made false statements so that people invested in the supposed cryptocurrency.

Celsius had higher risk profile of traditional banks

While Celsius CEO Alex Mashinsky claimed the company was “not taking any risks,” a recent report in The Wall Street Journal refutes that claim. According to the report, the cryptocurrency lender had more than twice the risk profile of the average American bank. In addition, the article claims that Celsius took on more risk than traditional banks.

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