After network congestion saw hundreds of thousands of unconfirmed transactions in the mempool and fees hitting $30+ earlier this month, things appear to be getting back to normal… slowly. Have Ordinals and BRC-20 meme-coins already had their day in the sun?
While the leaders of the G7 countries are currently in Tokyo discussing how to deal with China's 'economic coercion', let's take a look back at some of the news stories that have 'coerced' the crypto economy over the past week.
In Euro-land,
The US payments network provider moved into the custody market this week, with the reported quarter billion dollar purchase of Switzerland’s Metaco, also increasing its overseas presence ahead of the ruling in its ongoing SEC dispute.
The electronics giant and the South Korean central bank this week signed an agreement to further improve the security of offline CBDC payments, following initial development of the technology during a pilot study last year.
The European Banking Authority believes that stablecoins can exist and innovate responsibly, alongside CBDCs and other payment devices, subject to the implementation of some sensible guardrails.
Digital Asset’s “network of networks” allows normally siloed financial systems and institutional assets to interact and synchronize in previously impossible ways. Participants include BNP Paribas, Goldman Sachs, Cboe Global Markets, Microsoft and many others.
Bitcoin transaction fees are currently sky-high, as the generally drama-free network is hit by a recent craze for NFTs and dodgy meme-coins on the platform. There have even been calls to patch the ‘bug’ that made such ‘abominations’ possible…
The online payment processor is now holding almost half a billion dollars worth of bitcoin on behalf of its customers, along with ether, litecoin and bitcoin cash.
