Flash Crash in Bitcoin and Crypto Markets: Week in Crypto

Week in Crypto: Flash Crash, Bitcoiner President, Tokenized Social Networks, HBAR Pump and Dump, Trump’s ETH Holdings, Helium Network’s 5G, Buterin’s Backdoor, Gitcoin’s Partnership, Linea and Shibarium Launch, Tether’s Network Support, Regulation Updates, Binance Optimizes Operations, Celsius Revival, Bitcoin Frontier Fund, Orange Pill App Investment, Stellar Development Foundation Invests in MoneyGram, BitGo’s Investment, Ledger’s US Customers.

Hot Take:
This week in the crypto world has been eventful, with a flash crash in the Bitcoin and crypto markets causing concern. There are various speculations about what triggered the sell-off, including SpaceX’s sale of BTC and the Grayscale vs. SEC case. In politics, Argentina may have its first Bitcoiner president. Adoption-wise, a new project on the Base platform called friend.tech has faced criticism for its lack of privacy and transparency. Hedera Hashgraph’s token experienced a pump and dump after the US Federal Reserve announced a collaboration with a project on the Hedera platform. Former US President Donald Trump’s crypto holdings have been updated, revealing he holds more ETH than previously stated. In blockchain news, Vitalik Buterin’s statement about backdoors in layer-2 solutions raised concerns. Gitcoin’s partnership with Shell for climate projects received criticism for potential “greenwashing.” Various blockchain projects have launched, but some faced issues, such as Shibarium with stuck ETH. Tether announced it will no longer support certain networks due to lack of market interest. In regulation updates, the US and UK regulators shared their stance on cryptocurrencies. Binance has optimized its operations by closing down Binance Connect, while Celsius is surveying former clients for its revival. The Bitcoin Frontier Fund launched a startup accelerator, and the Orange Pill App secured an investment. Stellar Development Foundation invested in MoneyGram, and BitGo attracted a significant investment. Ledger will now allow its US customers to purchase cryptocurrencies.