Wrapping up the Cryptosphere: Lawsuits, Forecasts, and More

By: Eva Baxter

Last week was versatile for the crypto market as various major cryptocurrencies suffered significant market corrections. Bitcoin's recent price behavior took a notable dip from its $44,000 high, currently trading just below $42,000. After a federal judge's interference, the ongoing legal battle between Binance and the US Securities and Exchange Commission (SEC) could potentially wind up, expediting efforts to recover funds from the failed crypto firm's estate. Furthermore, predictions by research analyst, Bitwise, suggest Bitcoin's record high of $80,000, a potential surge in stablecoin industry volume, and Ethereum revenue doubling to $5 billion, all by 2024.
The landscape also saw a significant error related to stablecoin transactions, affecting Yearn.finance, a decentralized finance protocol, causing a substantial drain of the protocol's treasury fund. However, corrections were regarded as necessary stepping stones for the sustainable growth of the cryptocurrency industry by crypto trader, Crypto Rand. Meanwhile, integrating Artificial Intelligence with Journalism was the main discussion point of dialogues between OpenAI and Rolling Stones Publisher.