Weekly Report (19– 25 Jan. 24) | What Happened This Week In Crypto

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

1) Thailand’s Securities Commission Decides To Cancel License To ZipMex

The SEC, a major financial regulator in Thailand, has terminated Zipmex’s license to operate its online cash store. This is just the latest setback for Zipmex in Thailand, which has been causing quite a stir since February 23. Basically, Zipmex has been dangerously balancing, and it’s now giving out…[continue reading]

2) Market Capitalization Surpasses $2 Trillion For The First Time For NVIDIA

The $2 trillion market valuation that Nvidia achieved beyond anyone’s wildest dreams is a record-breaker. With this accomplishment, the California tech titan has reached its pinnacle, captivating investors and tech enthusiasts across the globe. Additionally, the stock has increased by 59%, making 2024 a great year for the corporation…[continue reading]

3) Canadian Crypto Custodian Balance Hits $2 Billion Amid Market Rebound

Balance said in a recent press release that its crypto assets have seen a renaissance, with customers now exploring new products and offers, thanks to the more than doubling of Bitcoin’s (BTC) value over the previous year and its crossing over $1 trillion in market cap…[continue reading]

4) Kraken File To Throw Out SEC Suit—”Dangerous Precedent” For Overreach

Kraken, a cryptocurrency exchange, claims that the SEC’s lawsuit against it “has no limiting principle” and gives the agency too much power. On the grounds that it establishes a “dangerous precedent” for the authority of the SEC, cryptocurrency exchange Kraken has moved to vacate a November complaint that the SEC had filed…[continue reading]

5) Reddit Files A $5B IPO After Investing In Bitcoin, Ethereum

Reddit also revealed that it has purchased Polygon to pay for virtual goods in a filing with the SEC before its expected initial public offering (IPO). Polygon is a network that scales Ethereum. The purpose of the acquisition was to make transactions easier, especially when buying virtual products on the site. Its reputation rests on its capacity to speed up Ethereum’s network…[continue reading]