We compile the top news stories weekly within the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC & ETH updates, recent investments, developments of exciting new projects, and other relevant topics.Here is everything you need to know for the week of November 20th to 24th.
📈 Weekly BTC and ETH Overview
The current upward movement of Bitcoin has faced resistance near the $38K mark, largely attributed to persistent selling pressure. Despite this challenge, there are other signals in the price dynamics hinting at a possible short-term turnaround, as continual retracements appear to be heading toward the $35K threshold. Ethereum on the other hand, is finishing the week positively, experiencing a 4.7% price surge that positions it other signals in the price dynamics toward a crucial resistance at $2.1K. This marks the second test of this resistance level in the current month, paving the way for Ethereum to rally and potentially establish new highs.
At the time of writing, BTC is trading at $37.6K, up 0.18% in the last 24 hours. Similarly, ETH is trading at $2.1K, up 1.04% in the previous 24 hours.
🗞️ Top Market News
- Richard Teng assumed the CEO role at Binance following the departure of founder CZ. After CZ and Binance struck a plea deal with the DOJ over alleged Anti-Money Laundering violations, the CEO stepped down and handed over the reins to Richard Teng. The settlement imposes a $4.3 billion fine and reportedly bars CZ from executive roles in any cryptocurrency company. Read more here.
- Genesis initiates a legal action against Gemini, seeking the recovery of $689 million in 'Preferential Transfers. In the lawsuit, Genesis claimed that within the 90 days leading up to the bankruptcy filing in January, over half a billion dollars were withdrawn from the crypto lending platform by up to 230,000 users participating in the two companies' "Earn" investing program. Read more here.
- The SEC filed a lawsuit against Kraken, alleging violations of securities laws. The SEC accused Kraken of functioning as an unregistered exchange, broker, dealer, and clearing agency. Additionally, it asserted that the platform mixed customer assets with its own. Read more here.
🚀 New Project Developments
- Fusionist Beta II: Galactic Duel debuted on Steam on November 22nd. BETA II is scheduled to run for 21 days, starting from November 22nd to December 13th. Participants are allowed to engage in up to 10 PVP matches per day. Read more here.
- Hatom (HTM) introduces the first native stablecoin on MultiversX - USH. Hatom has achieved the creation of a Liquid Staking protocol and is launching $USH, an Over-collateralized stablecoin, marking the inaugural native stablecoin on the MultiversX Network. Read more here.
- Chainflip (FLIP) is set to undergo its initial listing on November 23rd at 12:00 UTC. Chainflip is a unique native cross-chain decentralized exchange (DEX) that enables direct asset swaps across various blockchains without token wrapping. It operates on an independent, application-specific blockchain using threshold signature schemes. Read more here.
- Ubisoft Innovation Lab collaborates with Animoca Brands to support Web3 initiatives on Mocaverse. Mocaverse, Animoca Brands' flagship project, is partnering with Ubisoft's lab to boost its Web3 initiatives. This includes integrating Champions Tactics™ Grimoria Chronicles, an experimental PvP Tactical RPG, into Mocaverse's Web3 Frequent Player Program. Read more here.
🔍 More Featured Stories…
- Apple faces a lawsuit for obstructing crypto technology for P2P payments. The Nov. 17 complaint accuses Apple of anti-competitive deals with Venmo and Cash App, limiting decentralized cryptocurrency use in payment apps and causing users to pay inflated prices. Read more here.
