Weekly Report (5 – 11 Aug. 24) | What Happened This Week In Crypto

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

1) Venezuela Implements New Web Restrictions to Regulate Binance Access

Binance’s division in Latin America officially validated the news of the blockade in an official statement from X. However, the company stated that it is making every effort to resolve the situation as quickly as feasible…[continue reading]

2) Adidas collaborates with Doodles to offer virtual Offering

Adidas has formed a partnership with Doodles, an Ethereum-based NFT initiative, to distribute virtual merchandise bundles that include exclusive Adidas apparel. These limited-edition bundles are available for purchase until August 16…[continue reading]

3) Celsius sues Tether, Badger DAO, Compound, and Netanyahu’s niece and nephew

Tether is now included in the list of targets of Celsius lawsuits, which also includes Badger DAO, Compound Labs, and Bancor DAO. Badger DAO is being sued for losses incurred as a result of its 2021 hack, Compound Labs for losses associated with a November 2020 oracle incident, and Bancor DAO, which is owned by the niece and nephew of Israeli Prime Minister Benjamin Netanyahu, among others, for additional losses…[continue reading]

4) Ripple launches RLUSD stablecoin after defeating SEC

Ripple Labs has initiated beta testing of Ripple USD (RLUSD) on the Ethereum mainnet and the XRP Ledger (XRPL). The RLUSD will be supported by 100% USD deposits, short-term US government treasuries, and other cash equivalents, and will be valued at 1:1 to the US currency. Ripple’s private beta launch occurred subsequent to its substantial legal victory over the Securities and Exchange Commission (SEC)…[continue reading]

5) Vitalik Buterin transfers $8 million in Ether to a new wallet

Co-founder of the Ethereum network, Buterin, transferred 3,000 Ether ETH tokens valued at over $8 million to a new multisignature wallet. The funds were transferred to an unnamed wallet, “0xfEB,” which may be associated with a charitable organization…[continue reading]