The Crypto market cooled off after the previous week’s rally. Top cryptocurrencies went sideways, with exception of Dogecoin which lost more than 10% due to the news of a scammer who stole over $100 million of Doge. Solana on the other hand increased more than 40% due to a rise in institutional exposure.
Crypto Adoption
Visa bought an NFT, CryptoPunk 7610, for $150,000. Cuy Sheffield, Head of Crypto at Visa, stated: “With our CryptoPunk purchase, we’re jumping in feet first. This is just the beginning of our work in this space”.
Regulation
Cuba intends to recognize and regulate cryptocurrencies. Allegedly, the Central Bank will set rules for the regulation.
Business
Billionaire Simon Nixon plans to increase his portfolio allocation in Crypto through his venture capital firm Seek Ventures.
