Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for March 18-24, 2024

Weekly Crypto Digest for March 18-24, 2024

Sunday, March 24, 2024

In the latest issue of Weekly Crypto Digest, read more about how the FED kept the rate at the same level, BlackRock applied for a crypto fund, the EU banned crypto wallets, and more news.

The US Federal Reserve left interest rates unchanged

The Fed kept the rate at the same level for the fifth time since July 2023
The agency said the Federal Reserve System (FED) of the USA left the base rate at the previous level of 5.25-5.5%. The Federal Open Market Committee (FOMC) decides not to change the interest rate for the fifth time. The decision was taken unanimously.

BlackRock has applied for a joint investment fund with Securitize

The BlackRock company has applied to register a new investment fund with the US Securities and Exchange Commission (SEC). This is a joint project of the organization with the asset tokenization (RWA) firm Securitize.
​The product is called BlackRock USD Institutional Digital Liquidity Fund. The application does not specify which assets the fund will invest in.
​The minimum investment amount is $100,000.

One of the CryptoPunks NFT was sold for $17 million

CryptoPunks NFT #7804 sold for $17 million

On March 20, 2024, an NFT from the CryptoPunks collection was sold for 4,850 ETH. In monetary terms, the value of the token is $17 million.
It is an NFT from the AlienPunks series under the number 7804. The purchase was the second largest among the collection above. The previous owner purchased the token in 2021 for 4,200 ETH, which was $7.57 million at the time of purchase.
The ex-owner of the token stated that Punk #7804 did not live up to his growth expectations from the moment of purchase. He said he kept NFT in his collection for a long time but could not sufficiently increase its price. At the same time, the user earned 650 ETH ($2.3 million) from the transaction. He noted that it took him an hour to find a suitable buyer.
​AlienPunk #7804 was the second most valuable NFT from the said collection. The first place remains for token #5822. It was sold in February 2022 for 8000 ETH, which was $23.7 million at the time of the transaction.

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EU banned anonymous transactions from custodial wallets

The European Parliament approved a new law on combating money laundering, which, among other things, prohibits anonymous transactions from custodial wallets.
​According to him, the ban extends to:

  • ​Cash payments of more than €10,000;
  • ​Anonymous cash payments of more than €3,000;
  • ​Anonymous cryptocurrency payments through custodial wallets without any threshold;

MicroStrategy buys more Bitcoin

MicroStrategy buys more Bitcoin

MicroStrategy purchased 9,245 BTC for $623 million between March 11 and March 18, 2024. The average purchase price is $67,382.
​As of March 18, the company's balance sheet holds 214,246 BTC for $7.53 billion, purchased at an average price of $35,160. This exceeds 1% of the total BTC issuance.

Changpeng Zhao announced an educational project

In his Twitter post, Changpeng Zhao announced a new project called Giggle Academy, where users can receive education from 1st to 12th grade.
He also announced the recruitment of personnel, a small team that will work with him directly.
​The project is non-commercial. In addition, Zhao declined when asked if a native token was planned.

Last week, Dencun was activated in Ethereum mainet, and we prepared two articles explaining what Dencun is and what its main feature, EIP-4844, means.

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