Crypto Markets Remain Stable Amid AWS Outage and Layoffs
Last week saw stability in the crypto market, with Bitcoin around $84k and the CoinDesk 20 index up about 4%. Key events included:
- Many crypto platforms experienced downtime due to an AWS technical issue.
- Major cryptocurrencies, including Bitcoin, dropped following negative news from Nvidia.
- Mantra's value plummeted by 90%, attributed to alleged forced liquidations.
- EigenLayer introduced a new slashing feature to enhance security.
- OKX announced plans to establish a regional headquarters in California after settling a $500 million SEC claim.
- Kraken laid off hundreds of employees ahead of a potential IPO.
- Coinbase faced controversy over front running linked to a token on its Base L2 platform.
- Concerns arose regarding Binance's potential delisting of Zcash amid declining privacy coin values.
- A surge of crypto lobbyists is emerging in Washington, raising questions about their effectiveness.
- Friends With Benefits launched a program to develop Web3 products in various creative sectors.
Overall, while some fortunes were won or lost, the crypto space maintained a routine pace amidst broader economic concerns.