El Salvador, Solana, and Other Crypto Weekly Roundups

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This week has been a complete roller coaster. So, in our weekly roundup, let’s take a short look at the biggest talking topics.

Bitcoin

The FBI has effectively recovered the majority of the Bitcoin paid to the criminal hacking group DarkSide, which targeted the company Colonial Pipeline, according to the US Justice Department.

Wang Yongli, a former Deputy Governor of the Bank of China, has opposed El Salvador’s recent decision to award Bitcoin legal tender status.

Regulation

Senator Eduardo Murat Hinojosa of Mexico has declared that he will introduce a bill in the chamber to provide a legal framework for virtual currencies. El Salvador had just made Bitcoin legal tender when the news broke.

The Enforcement Directorate (ED) of India has issued a show-cause notice to WazirX, a Mumbai-based and Binance-owned cryptocurrency exchange (Foreign Exchange Management Act).

DeFi

Kylin Network has stated that it would collaborate with Wanchain on a strategic level. The long-term strategic relationship will be focused on ensuring that DeFi is interoperable. Kylin Network’s revolutionary cross-chain data services are combined with Wanchain’s premier blockchain interoperability solutions in this alliance.

Business

Andreessen Horowitz and Polychain Capital led a private token sale for Solana Labs, the blockchain studio behind decentralized finance ideas built on the Solana blockchain. The sale ended with a total of $314,159,265 in honor of Pi’s approximate worth.

NFT

Over the next few days, the famed Phillips auction house will sell Banksy artwork. In a nod to the controversial graffiti artist, Phillps has announced that bitcoin bids will be accepted.

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