The world's largest cryptocurrency is currently experiencing its most successful quarter in two years, with a remarkable surge of almost 70% since the end of December. Last week, it reached a nine-month high, coming just shy of $29,000.
Major Events Around the World
With discussions regarding the potential separation of the cryptocurrency market from traditional markets, the focus is now shifting towards significant regulatory changes within the industry. This is occurring despite the evident decline in trust towards banks, as a global banking crisis continues to shake markets worldwide. Interestingly, cryptocurrency prices have experienced a remarkable surge during this tumultuous period. However, this does not necessarily indicate a relaxation of the regulatory environment for the crypto asset ecosystem in the United States. Unless lawmakers can overcome the current obstacles, the industry will likely continue to face strict regulations.
The decentralized finance (DeFi) platform, Euler Finance, was the victim of a $196 million exploit in March 2023. However, recent reports suggest that the platform has managed to recover a majority of the lost assets. The hacker responsible for the exploit returned 51,000 ETH on Saturday, although some assets are still in their possession.
The G7 meeting in Hiroshima this May will bring together Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union to collaborate on a strategy for implementing stricter global cryptocurrency regulations. This is a crucial step towards ensuring the safety and stability of the global financial system...read more
