Breaking News: Ryan Salame Forfeits Bahamas Property in FTX Plea Deal

This report synthesizes key developments in the Web3, Blockchain, and Crypto sectors this week. 1. Breaking News: - Ryan Salame forfeits Bahamas property in FTX plea deal - Dutch police arrest suspect linked to ZKasino crypto scam - Crypto user loses $68 million to clever wallet hack - DOJ investigates Block for sanctioned transactions - Robinhood Connect now available on Uniswap mobile app - Coinbase integrates Lightning Network for faster Bitcoin payments - Roger Ver arrested for tax evasion in Spain - Uniswap's share of Layer 2 trading volume reaches 37% - Ripple partners with HashKey Group to expand in Japan - Bitcoin miners feel the pinch of latest halving event - dWallet Network integrates with EVM-compatible blockchain Monad - Aethir partners with Magic Eden to boost Web 3.0 gaming - Hong Kong launches spot Bitcoin and Ethereum ETFs - Australia readies spot Bitcoin ETFs for ASX launch by 2024 - Tether invests $200M in brain-computer interface tech

Breaking News and Notable Developments in the Web3, Blockchain, and Crypto Sector

Ryan Salame Forfeits Bahamas Property in FTX Plea Deal

Former FTX Digital Markets co-chief executive Ryan Salame surrendered his multimillion-dollar property in the Bahamas as part of a plea agreement. This development follows his guilty plea on criminal charges, with $5.6 million in restitution owed.

Dutch Police Arrest Suspect Linked to ZKasino Crypto Scam

Dutch law enforcement apprehended an individual associated with fraudulent activities at ZKasino, an internet gaming platform. The operation seized assets worth 11.4 million euros, including cryptocurrency, real estate, and luxury vehicles.

Crypto User Loses $68 Million to Clever Wallet Hack

A once-wealthy Ethereum user lost $68 million in Bitcoin after hackers tricked him into sending funds to a compromised wallet. The breach left him with only $1.6 million in cryptocurrency assets.

DOJ Investigates Block for Transactions with Sanctioned Countries

U.S. prosecutors are investigating Block, co-founded by Twitter's Jack Dorsey, for processing transactions linked to sanctioned countries and potentially individuals involved in terrorist activities. The investigation raises significant compliance concerns.

Robinhood Connect Now Available on the Uniswap Mobile App

Robinhood announced the integration of its crypto Connect feature into the Uniswap mobile app. Eligible users can earn $10 in the USD Coin stablecoin by purchasing an equivalent amount of crypto using Robinhood Connect within Uniswap.

Coinbase Integrates Lightning Network for Faster Bitcoin Payments

Coinbase added support for the Lightning Network to reduce Bitcoin transaction costs. This integration enables Bitcoin transactions to become up to 20 times cheaper compared to traditional credit card transactions, resulting in substantial cost savings for users.

Roger Ver Arrested for Tax Evasion by DOJ in Spain

Roger Ver, a prominent Bitcoin investor, was arrested by the U.S. Department of Justice in Spain for allegedly evading up to $50 million in taxes. The indictment highlights serious tax compliance issues.

Uniswap's Share of Layer 2 Trading Volume Reaches 37%

Uniswap, a decentralized exchange on Ethereum, now accounts for 37% of the total trading volume on Layer 2 networks. This significant growth underscores the increasing popularity of decentralized finance (DeFi) platforms.

Ripple Partners with HashKey Group to Expand in Japan

Ripple announced a partnership with HashKey Group to introduce XRP Ledger enterprise solutions to the Japanese market. This joint venture aims to deploy supply chain finance solutions through HashKey DX, furthering Ripple's expansion in Asia.

Bitcoin Miners Feel the Pinch of the Latest Halving Event

Bitcoin miners face lower revenues after the recent halving, reaching levels not seen since early 2023. The tighter profit margins raise concerns about the industry's sustainability and potential impacts on Bitcoin's market price.

dWallet Network Integrates with EVM-Compatible Blockchain Monad

dWallet Network, an infrastructure for programmable native Bitcoin, integrates with the EVM-compatible Layer 1 blockchain, Monand. This collaboration aims to enhance Monad's multi-chain capabilities, providing greater flexibility for developers.

Aethir Partners with Magic Eden to Boost Web 3.0 Gaming

Aethir, a GPU cloud computing platform, collaborates with NFT giant Magic Eden to promote Web 3.0 gaming. The partnership offers access to Aethir's GPU services and establishes Magic Eden as the primary NFT platform for Aethir's gaming partners.

Hong Kong Launches Spot Bitcoin and Ethereum ETFs

The Hong Kong Stock Exchange introduced spot Bitcoin and Ethereum exchange-traded funds, marking a significant step in mainstream crypto adoption. These new ETFs offer investors direct exposure to these cryptocurrencies, reflecting growing interest in the asset class.

Australia Readies Spot Bitcoin ETFs for ASX Launch by 2024

Australia's Securities Exchange is expected to greenlight spot Bitcoin ETFs by the end of 2024. At least two organizations have submitted applications, indicating growing interest in expanding crypto investment opportunities in Australia.

Tether Invests $200M in Brain-Computer Interface Tech

Tether has invested $200 million in Blackrock Neurotech, a brain-computer interface technology platform, becoming its majority stakeholder. The investment exemplifies Tether's focus on merging human capabilities with technology in innovative ways.

Blockchain Performance Analysis

Top Blockchain Performers by 7-Day Change

Core, ZetaChain, StarkNet, Scroll, and Filecoin emerged as the top blockchain performers based on their 7-day change. Core registered an impressive 7-day change of +154.8%, while ZetaChain and StarkNet followed with +20.6% and +19.9%, respectively.

Top Performers: 7-Day Change in Top 5 Blockchains with Highest TVL

Solana stood out as the top performer among the top five blockchains with the highest TVL, with a 7-day change of +4.5%. Ethereum and BNB Smart Chain also showed positive changes of +0.8% and +0.1%, respectively.

Crypto Market Analysis

Crypto 7-D Price Change and Dominance Analysis

Solana recorded the most significant 7-day change among the top five cryptocurrencies with the highest market cap, showcasing a change of +6.5%. Tether and Bitcoin followed with positive changes of +0.2% and +0.1%, respectively. BNB and Ethererum marked negative changes, with the former registering a change of -1.5% and the latter -0.2%.

Top Gainers & Losers of the Week in Crypto Market

Pepe, dogwifhat, Bonk, FLOKI, and Worldcoin were the top gainers of the week in the cryptocurrency market. Conversely, Helium, Sui, Ondo, Polkadot, and Beam were the top losers.

Stablecoin Weekly Analysis

Tether maintained its dominance in the stablecoin market, accounting for 70.59% of the market share. USDC followed with 21.20%.

Stablecoin Weekly Price Analysis

First Digital USD registered a positive 7-day price change of +0.4%, while Dai recorded a change of -0.0%. Tether and Ethena USDe both marked a change of +0.2%, while USDC displayed a change of +0.1%.

Bitcoin ETF Weekly Analysis

Bitcoin Futures ETF Weekly Analysis

ARKA and BITO demonstrated the highest positive price changes among the top five Bitcoin Futures ETFs with the highest Asset Under Management, with +4.72% and +4.52%, respectively.

Bitcoin Spot ETF Weekly Analysis

All five top Bitcoin Spot ETFs with the highest AUM, including GBTC, IBIT, FBTC, ARKB, and BITB, reported positive price changes this week.

DeFi Market Weekly Status Analysis

EigenLayer showed the highest 7-day change in TVL among the top five DeFi protocols with the highest TVL, with a change of +1.08%.

NFT Marketplace: A Basic Weekly Analysis

Blur maintained its dominance in the NFT marketplace with a market share of 69.55%, followed by Blur Aggregator with 24.04%. Cryptopunks, Gem, and X2Y2 rounded out the top five.

NFT Collectible Sales this Week

CryptoPunks #7846 was sold for $557,802.94, the highest amount received for an NFT collectible this week. Other top sales included CryptoPunks #1568, Uncategorised Ordinals #3beb59221, Azuki #308, and CryptoPunks #9842.

Web3 Weekly Funding Analysis

General Crypto Fundraising Trend Analysis

CeFi remained the category with the highest fundraising over the period April 29th to May 4th, 2024, securing $47.00 million. DeFi was the second-highest with $28.00 million.

Top Crypto Investment Locations This Week

The United States remained the top crypto investment location, with $58.80 million raised. The undisclosed location followed with $56.00 million raised.

ICO Landscape: A Weekly Overview

Mocaverse raised the highest amount among major ICOs that ended this week, securing nearly $36,890,000. Renzo Protocol secured over $3,200,000, while XSwap raised $2,100,000.

Weekly Blockchain Hack Analysis

As of May 4, 2024, hackers have stolen a total of $7.82 billion, primarily from DeFi platforms and blockchain bridges. DeFi platforms suffered the most significant losses, accounting for approximately $5.9 billion.

Endnote

This comprehensive analysis provides insights into the latest developments in the Web3, Blockchain, and Crypto sector. As the landscape continues to evolve, it is crucial for stakeholders to stay informed about market trends and embrace data-driven strategies to navigate the dynamic realm of decentralized technologies.