Weekly Crypto Market News / 27 February – 5 March
- Japanese companies Fujitsu, Mitsubishi, and Mizuho will launch an economic zone in the metaverse.
This agreement is based on the concept of “updating Japan through the power of games” by Hajime Tabata, a globally renowned game creator, founder of JP Games, and the Web 3.0 advisor for the Japanese Government’s Digital Agency, and is an industrial DX(3) initiative that utilizes gaming technology and was established by way of each company’s endorsement of the concept.
Read more: Agreement on the creation of the “Japan Metaverse Economic Zone”
- The Brazilian digital bank Nubank launched its token. Nukoin is a variety of cryptocurrencies that clients don’t use for paying, but it works as a loyalty program. The project was designed using Polygon, a blockchain that issues the MATIC token.
Read more: Nubank’s cryptocurrency will have 100 billion units and airdrop plan for loyal customers
- $694 million left in FTX, while the debts to users are around $8,9 billion. An ex-СTO of the platform recognized his guilt in scamming. However, Sam Bankman-Fried doesn’t give up and repeats his favorite “I’m sorry!”
Read more: FTX stakeholder report shows ‘massive shortfall’ of assets
- On March 14, ETH developers will process the final testing of the update Shanghai. The hard fork is planned in the main network at the beginning of April.
Read more: On today’s ACDE call, Ethereum devs agreed to schedule the Shanghai upgrade on the Goerli testnet for March 14th at epoch 162304.
- The crypto bank Silvergate stocks dropped 54% after news about the delay of the annual report.
“The Company is currently analyzing certain regulatory and other inquiries and investigations that are pending with respect to the Company,” the filing said. Silvergate’s accounting firm is also requesting further information, as are its independent auditors.
Read more: Silvergate Stock Plunges as Bank Says It May Face DOJ, Congressional and Bank Regulator Inquiries
- Coinbase, Circle, Paxos, Crypto com, Gemini, Bitstamp, Bakkt, CBOE, and Galaxy Digital refused to collaborate with the problem Silvergate bank.
“A growing group of crypto firms is ending its relationship with crypto-focused bank Silvergate (SI) after the bank delayed its 10K filing and said there were concerns about its ability to continue as a “going concern.”
Read more: Host of Crypto Firms, Including Coinbase, Paxos and Galaxy, Jump Ship From Silvergate Bank