✅ Bitcoin fell 8.5% for the week and Ethereum fell as much as 15.6%, liquidating billions of dollars in long positions in the process of the market correction 📉

Weekly news digest:

💎 Crypto

🔸 European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve

🔸 Representative of Ohio filed a bill to create a strategic Bitcoin reserve for the state

🔸 Deutsche Bank has announced that it's launching its own Ethereum layer 2 blockchain ⛓️‍💥

🔸 Hut 8, one of North America’s largest Bitcoin miners, has announced a $100 million purchase of Bitcoin

🔸 10% of Ethereum validators are signaling support for raising the gas limit which could result in up to a 33% reduction in transaction fees

🔸 $PENGU memecoin was launched, check this post for more info about the airdrop, you might be eligible

🔸 Ripple launched US dollar-backed RLUSD stablecoin

🏦 Crypto Exchanges

🔸 Global neobank Revolut listed the BNB coin

🔸 Exodus Movement has been approved for listing on the NYSE American by the SEC

💵 Finances and Economy

🔸 Rumble is in a deal for a $775 million strategic investment from stablecoin issuer Tether

🔸 The Federal Reserve cut rates by 0.25% 🇺🇸

🔸 Tether has invested in Malta-licensed stablecoin firm StablR

🔸 The Fed's PCE inflation expectation for 2025 rose to 2.5%

Fake Satoshi Craig Wright was given a one-year suspended sentence for contempt of court

Investors filed a lawsuit against several entities involved in the launch of the Hawk Tuah memecoin

Europol seized $26 million in crypto from nine drug traffickers

🔸 Nearly 800 people were arrested in Nigeria in connection to crypto romance scams

🔸 CyberKongz NFT collection has received a Wells Notice from the SEC

Interpol has issued a "Red Notice" for Hex founder Richard Schueler

Mo Shaikh, co-founder of Aptos Labs, announced that he's stepping down as CEO

Donald Trump met with Crypto.com CEO Kris Marszalek to discuss the nation’s crypto policies $KSM $KAVA $KDA