Weekly Report (03 – 09 June 24) | What Happened This Week In Crypto

This report will provide some essential and quick news about the cryptocurrencies happening worldwide.

1) 3.5 Million Dollars Supposedly Taken From ZkSync’s Gemholic Project

Members of the community are now attempting to track down the address of the person who created the Gemholic contract, with the belief that Binance is funding their work. The Gemholic project and the zkSync network are the subjects of a suspected rug-pull incident, which has sparked concern within the cryptocurrency community…[continue reading]

2) OKX Wallet Transactions Cause Chaos And Cost Millions Of Bitcoin In Fees

OKX processed 2,380+ transactions, costing 254.28 BTC (about $17.6 million), beginning with block 846,867. The OKX wallet transaction has been the subject of criticism due to its management of wallet transactions. Allegations allege that a useless automated system has caused transaction fees to escalate out of control…[continue reading]

3) Donald Trump Declares Himself ‘Crypto President’ At Key Player Fundraiser

Former President Trump took the stage at a San Francisco event organized by digital venture capitalists Chamath Palihapitiya and David Sacks to portray himself as the crypto sector’s savior while simultaneously criticizing Democratic Party measures to regulate the industry…[continue reading]

4) Bakkt Considers Sale Or Dissolution Amid Crypto M&A Boom

One source told Bloomberg that Bakkt is talking to people about their options, which might include selling or breaking apart. The move is in response to the recent uptick in mergers and acquisitions in the crypto industry…[continue reading]

5) Singapore Marks The Launch Of McDonald’s Metaverse

Locals in Singapore may now participate in virtual burger creation, multiplayer gaming, and reward redemption via McDonald’s new ‘My Happy Place’ metaverse. Singaporeans may now join in on the fun at McDonald’s “My Happy Place” metaverse, where they can design their own virtual burgers and more…[continue reading]