Binance’s CEO today denied rumors that he was shot by the FBI, a news headline you may never have expected. But nothing is too crazy in crypto! However, this was not the main crypto news today. Were you too busy to keep an eye on the news today? No problem; In this news overview we list the most important news for you.
Bitcoin has an important week ahead
Bitcoin (BTC) saw its fastest drop in four months, dropping more than 5% in less than 30 minutes on Thursday night but saw little movement over the weekend. Analysts predict that the coming days will be crucial in determining which direction bitcoin will take.
There are a number of factors that will be important this week. For example, there will be speeches by Federal Reserve chairman Jerome Powell, the US unemployment figures and the Chinese consumer price index will be announced and more clarity will probably come about the fate of crypto bank Silvergate. You can read here which 5 factors you should keep an eye on this week.
DeFi investments see greater growth than centralized projects
Investments in decentralized finance (DeFi) projects saw a 190% increase in 2022, totaling $2.7 billion, while investments in centralized projects fell 73% to $4.3 billion, according to CoinGecko. The report suggests that the drop in investment in centralized projects may indicate saturation in that part of the crypto industry.
Total investment in crypto fell from $31.92 billion in 2021 to $18.25 billion in 2022, largely due to the bear market and a decline in confidence in central authorities following the fall of LUNA and FTX. Read more about this news here.
Ripple CEO expects ruling in XRP lawsuit this year
Ripple CEO Brad Garlinghouse expects a decision in the lawsuit between Ripple and the SEC later this year, which he believes will determine not only Ripple’s future, but that of the rest of the crypto industry as well. Garlinghouse criticizes the SEC’s current practices and calls for clear rules for the crypto industry in the US.
If the SEC continues to act like this, Garlinghouse says it won’t be long before many parties decide to leave the US, which could damage America’s future. XRP is still one of the largest projects in the industry. Read more about Ripple’s CEO statements here.
Disclaimer: This article was created using AI. The editor-in-chief has checked the article for possible inaccuracies and has corrected them.