Allegations Binance is Working With Russia, NFT FanCraze Raises $100m

Although the world continues to be in disarray, it’s been a good week for the cryptocurrency market as a whole. The biggest success story of the week was ETC, which enjoyed a sudden surge of 43.4% after continually dipping after it hit an all-time high in May 2021.

As for the week’s losers, HEART declined by 49.7%, OMI by 15.1%, and JUNO by 10.1%. However, the biggest cryptocurrencies all saw moderate gains. ETH increased by 11.5%, BTC by 6.5%, and SOL by 9.6%.

The founder of the Ukrainian crypto exchange KUNA, Michael Chobanian, has alleged that Binance is working with the Russian government and has failed to make the $10 million donation it promised his company.

NFT marketplace FanCraze, which focuses on cricket, raised $100 million in its Series A funding round, with Cristiano Ronaldo allegedly one of the investors involved.

The Argentine Congress has approved a $45 billion loan from the IMF, which includes an agreement to discourage cryptocurrency usage in the country.

Founder of the capital market company Kynikos Associates Jim Chanos has caused havoc by revealing that he’s shorting Coinbase in an interview with CNBC. Why? Chanos explained that the increasing competition between different exchanges could lead to fee compression and less profitability, and that the leading exchange is due a major correction.

El Salvador had been planning to launch its bitcoin bonds to fund the building of its upcoming “Bitcoin City” last week, but the move seems to be delayed. The lack of progress seems to be partly due to the conflict in Ukraine, with the country’s Finance Minister saying they almost have the tools but are waiting for a better context for the launch.

A US resident has been found guilty of committing fraud as part of a crypto scam. Asa Saint Clair pretended to be a United Nations affiliate for a non-existent organization that was launching a digital coin offering “guaranteed returns.”

Swipe up now to read the full post!