What happened to crypto market this week
India Launches Probe Against 11 Crypto Exchanges
India's tax watchdog has seized $12.6 million in local currencies from 11 crypto exchanges on allegations of tax evasion, according to India's Minister of State for Finance Pankaj Chaudhary. The published document shows that Indian crypto exchanges such as WazirX, CoinDCX, BuyUCoin and Unocoin were among those that violated tax laws.
MacroStrategy Attracts $205M from Silvergate Bank to Buy Bitcoin
MacroStrategy, a subsidiary of MicroStrategy, has received a $205 million loan from Silvergate Bank to buy additional bitcoins. The company wrote in a press release that the deal is secured by "certain bitcoin" held in MacroStrategy's collateral account. MicroStrategy CEO Michael Saylor says that with the capital from the loan, the company has turned its bitcoin into "productive collateral."
Mt.Gox to Airdrop NFTs to Victims of 2014 Hack
The notorious Mt.Gox cryptocurrency exchange will airdrop non-fungible tokens (NFTs) between its former customers that were affected by the hack back in 2014. Mark Karpeles, the former CEO of Mt.Gox, said that he is launching a new project called Mt.Gox NFT, which will grant the exchange's customers a lifetime of free access to the new website.
Hacker Steals $625M from Ethereum Sidechain Ronin
The sidechain Ronin, which is involved in the popular blockchain-based game Axie Infinity, has suffered a hacker attack in which $625 million in cryptocurrencies has been stolen, the project has announced. According to Ronin developers, the hacker has managed to steal 173,600 ETH, as well as $25.5 million in the stablecoin USDC.
Binance Partners with the Grammy Awards
As part of the agreement, Binance has partnered with the 64th Annual Grammy Awards and Grammy Week. During the year, the company will continue to cooperate with the Recording Academy and provide various Web 3.0 technology solutions to the organization and event participants.
Blockchain.com Reaches $14B Valuation Following Funding Round
Blockchain.com, a crypto wallet and exchange provider, has completed a funding round that has resulted in the company's valuation reaching $14 billion, Bloomberg has reported. According to the publication, the investment round has been led by Lightspeed Venture Partners. However, both Baillie Gifford and other investors have also taken part in it.
The total capitalization of the cryptocurrency market at 7:15 pm (UTC) is $2,143,666,399,252
- Bitcoin gained 4.4% to $46,304.47
- Ether gained 11.03% to $3,453.71
- Binance Coin gained 8.5% to $445.32
- SOL gained 37.8% to $135.9
Top performer over the past week among the top 100 cryptocurrencies: ZIL (+313%), according to CoinGecko.
Mining Profitability
- Bitcoin: $0.2213 for 1 TH/s
- Ethereum: $0.048 for 1 MH/s
- Bitcoin Cash: $0.1929 for 1 TH/s
- Litecoin: $1.971 for 1 GH/s
- Dash: $0.0224 for 1 GH/s