After a sell-off last week, bitcoin and other top cryptocurrencies by market value began to rebound on Monday.
Though it fell as low as $53,549 after stocks and other riskier assets declined over fears regarding the new coronavirus variant, bitcoin topped $58,000 on Monday afternoon, according to Coin Metrics. It’s now trading at around $58,546.
Here are eight other important things that happened in the crypto space this past week.
a joint statement about research they’ve conducted on crypto assets and shared areas they plan to explore going forward.
So far, agency staff have focused on defining vocabulary for crypto assets, assessed “key risks” in the space and analyzed current regulation, according to the statement.
In 2022, the agencies plan to “provide greater clarity” on safety, consumer protection and compliance for crypto asset custody services and on the issuance and distribution of stablecoins.
Also on Tuesday, the OCC published a letter affirming that national banks and federal savings associations must show that they have specific safety measures in place before they can engage in certain cryptocurrency and stablecoin activities.
ConstitutionDAO announced it would shut down on Tuesday and offered its investors an opportunity to claim refunds. Investors could do so by claiming or redeeming the DAO’s token, called PEOPLE.
“ConstitutionDAO was a beautiful experiment… We now believe this project has run its course,” the DAO wrote on its website.
Originally, the DAO formed with the goal of buying a rare copy of the U.S. Constitution during a Sotheby’s auction, but the group was outbid by billionaire Ken Griffin.
Though the DAO decided to no longer continue operations, PEOPLE is up over 4,300% in the last seven days, according to CoinGecko. It hit an all-time high of over 16.6 cents on Saturday, but has since dipped, currently trading at around 7 cents.
a DAO, or decentralized autonomous organization, and allows users to buy land or in-game items as NFTs.
The plot was purchased by the Metaverse Group, a virtual real estate company, according to a statement by its parent company Tokens.com.
“The estate will be developed to facilitate fashion shows and commerce within the exploding digital fashion industry,” the statement reads. “Metaverse Group also plans to establish partnerships with several existing fashion brands who are looking to connect with new audiences and expand their ecommerce offerings within the metaverse.”
