This is information that investors should be aware of.
Staying informed and adapting to changes in this ever-evolving market is key to successful cryptocurrency investing. Below, the five most relevant news in the crypto world this week.
- Sam Bankman-Fried is going to prison.
- The Worldcoin (WLD) token loses value.
- The fight between Elon Musk and Mark Zuckerberg has been confirmed.
- Positions on cryptocurrencies among the main Argentine candidates before the primary elections.
- Binance obtains a license to operate in El Salvador.
Sam Bankman-Fried Going to Prison
Federal Judge Lewis Kaplan revoked Sam Bankman-Fried’s bail, for witness tampering. Therefore, Bankman-Fried will remain in custody until his criminal trial, which begins on October 2.
Prosecutors had been pushing to have Bankman-Fried’s $250 million bail, which had kept him out of custody since his arraignment in December 2022, revoked.
Bankman-Fried is facing charges of stealing funds from FTX clients to cover losses at its Alameda Research hedge fund.
Worldcoin Token (WLD) Loses Value
The Worldcoin (WLD) token has depreciated in the past seven days due to investigations and bans by state regulators in several countries. The price fell from $2.30 to $1.73.
The project led by Sam Altman has generated controversy for its access to cryptocurrency and data security. Additionally, a security flaw that allowed attackers to become operators without legitimate credentials was reported, but has since been fixed. As a consequence, Worldcoin has taken steps to address the vulnerability.
Elon Musk vs. Mark Zuckerberg Fight Has Confirmed Venue
Elon Musk and Mark Zuckerberg have taken their social media rivalry to another level by agreeing to meet in a mixed martial arts fight.
The fight, which will take place at a location in Italy, will be managed by the foundations of both businessmen and broadcast on LiveStream and Meta. Musk said the event will be inspired by ancient Rome and all proceeds will go to Italian veterans and children’s hospitals.
Positions on Cryptocurrencies among the Main Argentine Candidates before the Primary Elections
On Sunday, August 13, Argentina begins the electoral path to elect the next president of the Nation. In the Mandatory Simultaneous Open Primary (PASO), the candidates will define who will compete in the October elections.
Leading up to PASO, the leading candidates have publicly shared their views on cryptocurrencies. Horacio Rodríguez Larreta, current head of Government of the City of Buenos Aires, expressed his belief in technology and the advancement of cryptocurrencies. Patricia Bullrich, former Minister of Security, highlighted the freedom offered by cryptocurrencies as a payment system and its usefulness in avoiding financial restrictions in Argentina.
Javier Milei, a national deputy, considers that Bitcoin is a natural reaction to the fraud of the central banks and represents the return of money to the private sector. Sergio Massa, Minister of Economy, sees the potential of cryptocurrencies in the process of modernization of the State. Juan Grabois, a social leader, suggests using cryptocurrencies to make payments in social programs and break the negative perception of their use.
Binance Granted License to Operate in El Salvador
On Tuesday, August 8, Binance received authorization from two El Salvadoran regulators to operate in the Central American country. The world’s largest exchange obtained a license as a Bitcoin Service Provider (BSP) granted by the Central Reserve Bank, and a non-provisional license as a Digital Asset Service Provider (DASP) granted by the National Digital Assets Commission.
By Audy Castaneda
