Weekly Cryptocurrency Recap: Notable Events and Market Movements

Sunday Summary of the Crypto World

Gather ’round, crypto enthusiasts! Each week we distill the important developments in this wild world of digital currencies so you don’t have to comb through Twitter rants and whitepapers. Whether you’re gaining or losing, we’ve got the scoop on everything that’s been happening lately!

Top Headlines from the Crypto Cosmos

• Mt. Gox’s Mirage: Former CEO Mark Karpeles cools the rumors, stating that his new ventures won’t be blockchain-related. Sorry folks, the ‘return of the king’ will have to wait.
• Kik’s Legal Shenanigans: SEC swings the law street over Kik’s hefty $100 million ICO, leaving many crypto-heads wondering about the legality of their favorite token.
• Sun Gets to Lunch with Buffett: Justin Sun wins a lunch auction with the Oracle of Omaha himself, making everyone reminisce over more innocent times—like when we only measured wealth in burgers.
• LocalBitcoins Says Bye-Bye Cash: The peer-to-peer exchange removes fiat cash trading, leaving traders looking for their next fix like a p2p junkie.
• Facebook’s Crypto Buzz: The social media titan is reportedly gearing up to unveil its cryptocurrency project soon. Get ready for salaries in crypto—will they accept dog memes as payment?

Market Movements: The Good, The Bad, and The Ugly

This week saw Bitcoin flirting with the $8000 mark (around $7933 if we’re being precise), while Ether decided to stick around $245. Meanwhile, XRP is just hanging out at $0.41. Talk about a rollercoaster ride!

Altcoins on the Rise and Fall

• Winners:
• Posscoin
• Bitcoin 2
• Hempcoin
• Losers:
• Bzedge
• Pandemia
• Quantis Network

Quips and Quotes: Wisdom from the Wise

As they say, “Behind every great investment is a great quote.” Here are some pearls of wisdom from this week’s notable figures:

• Hester Peirce says we need more competition in ETFs. Hear, hear!
• Stanley Druckenmiller likens owning Bitcoin to being a Neanderthal. Ouch!
• And let’s not forget, Jair Bolsonaro is still in the “What even is bitcoin?” phase. Bravo.

FUD Alert: Fear, Uncertainty, and Doubt

As always, the crypto world isn’t all roses and rainbows. This week brought us:

• Coinroom Collapse: The Polish exchange went dark with customer funds, reminding us to always keep your crypto close.
• Hacks and Malware: From GateHub losing $10 million in XRP to new Trojan malware making the rounds, remember: not all clicks are created equal.

Featured Articles to Keep You Informed

Don’t miss these highlights from the Cointelegraph vault:

• The importance of decentralization in the crypto ecosystem.
• Why so many people want to claim the Satoshi title.
• A guide on what exactly is a ‘Satoshi’ in Bitcoin.