6 Big Crypto News – Pudgy Penguins NFT Sold and More

As we draw into April, it seems like we’re well and truly exiting the crypto winter (with a few notable exceptions). Most coins have enjoyed price increases, including Ethereum (up 6.3%) and Solana (up 27.9%).

Pudgy Penguins NFT Sold

The Pudgy Penguins NFT collection has finally been sold for 750 ETH (around $2.5 million). It’s a much-awaited deal following the controversial ousting of the collection’s founding team, who were voted out by the Pudgy Penguins discord group in January 2022.

Fractal Raises $35 million

Meanwhile, the gaming NFT marketplace Fractal has raised $35 million in its latest funding round, and is now with contributions from various big names in the space — including Coinbase Ventures and Solana Labs.

DeFi Lender Inverse Finance and Axie Finity Hacked

It wasn’t such a good week for the DeFi lender Inverse Finance, which suffered an exploit that resulted in a loss of $15.6 million dollars after an attacker altered token prices so it could take out loans with negligible collateral. To make matters worse, it was the third attack of its kind over the last week.

Bitcoin ETF Application Rejected

The SEC  has rejected Ark 21Shares’ application for a spot bitcoin ETF, making it one of many that has failed to obtain the offering. Allegedly, the biggest reason for the rejection is insufficient protectors for investors and failure to comply with the relevant requirements.

Bitcoin Miner Riot Blockchain Sells $500m of Shares

Riot Blockchain (RIOT), which mines bitcoin, has filed with the SEC to sell up to $500 million of its shares. The project plans to use the funds for investments in other projects and business ventures.

Tezos Upgrades

Tezos has undergone an upgrade, which involves altering its consensus algorithm so that it can boost efficiency and offer faster transaction times. This should help the proof-of-work blockchain to become more scalable.

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