After a tense period of negotiations, this weekend Joe Biden finally signed into law a bill to suspend the U.S. debt ceiling until January 1, 2025. The eleventh hour agreement means that the world no longer has to worry about the potential ramifications of a first-ever U.S. debt default... for the next 18 months at least.
So to celebrate the temporary removal of the debt ceiling, lets raise the roof (sorry) for the top stories of the past week in crypto land.
Starting with central bank digital currencies, both Sweden and the European Central Bank published the results of recent(-ish) investigations. While Swedish authorities seem to favor a CBDC to ensure the existence of state-guaranteed money within its increasingly cash-less society, the ECB carried out market research and a technical trial to show that creating a digital euro was indeed possible.
Binance launched its peer-to-pool NFT loans service, offering instant funds with the risk of auto-liquidation if prices drop. Meanwhile, the exchange's Brazilian payment partner, Latam Gateway, received approval from the country's Central Bank to act as an electronic money issuer.
A hacker who targeted the governance system of the Tornado platform politely returned control to the users... after retrieving all the loot. But Apple customers can't get hold of their own loot held in Goldman Sachs-run savings accounts, due to suspected AML measures.
Apple does seem to be softening its stance against all things crypto though, as Move-to-Earn app StepN annouced that users could now buy NFTs in the app using Apple Pay. Also on a Web3 note, GameStop announced the Telos Foundation as a technology partner for its highly anticipated gaming launchpad.
Finally Litecoin price is experiencing a rollercoaster ride as it hurtles towards its third halving event.
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