Crypto Chaos: The Week That Wasn’t So Wild After All! 😂

by

What to know:

  • Bitcoin, the steadfast giant, clung to its $84k throne, while the CoinDesk 20 index did a little jig, rising by 4% this week.
  • A little hiccup at AWS sent the crypto world into a frenzy, proving that decentralization is sometimes just a fancy word for chaos.
  • OKX, after a $500 million slap on the wrist from the SEC, is packing its bags for a sunny California headquarters.

After last week’s tariff-induced circus, this week in crypto was like a calm sea—if you ignore the occasional rogue wave. Bitcoin, ever the reliable friend, stayed around $84k. The CoinDesk 20, which tracks a hefty chunk of the market, managed a modest 4% rise—yawn, right?

But wait, there’s more! On Tuesday, a tech snafu at AWS turned off the lights for much of crypto, reminding us that the decentralized dream can sometimes feel like a bad joke. Shaurya Malwa was quick to report this little drama. Meanwhile, Bitcoin and its crypto buddies took a hit thanks to Nvidia’s not-so-great news, as Omkar Godbole pointed out.

In a plot twist worthy of a soap opera, Mantra, a project that was supposed to be the next big thing, lost a staggering 90% of its value. The company blamed “force liquidations” from exchanges—sounds like a fancy way to say they tripped over their own feet.

On the brighter side, EigenLayer, the self-proclaimed king of restaking, introduced a “slashing” feature to tackle security concerns—because who doesn’t love a good slashing? OKX, the exchange that just can’t stay out of the headlines, is setting up shop in California after a $500 million settlement with the SEC. Cheyenne Ligon had the scoop on that one.

In less cheerful news, Kraken decided to play the “layoff game” with hundreds of its staff ahead of an anticipated IPO. And Coinbase? Oh, they found themselves in a “front running controversy” over a token with a name that’s probably more interesting than the token itself. Privacy advocates are sweating bullets over rumors that Binance might delist Zcash—because who doesn’t love a little drama in the world of privacy coins?

In the halls of D.C., Jesse Hamilton reported on a fresh wave of crypto lobbyists flooding the capital. Some are wondering if we’ve hit peak trade groups—can they all really be effective, or is it just a party with too many guests?

Friends With Benefits, a trendy social club for the tech-savvy, launched a new initiative to whip up Web3 products for music, film, and all things fun. (Yes, I’m totally taking credit for that one.)

Of course, the broader economy is still a rollercoaster (thanks, Trump, for your delightful commentary on Fed chair Powell), but in the crypto realm, it’s just another day at the office. Fortunes are made, lost, and sometimes just put on hold—like that one friend who always says they’ll pay you back.

Read More

2025-04-18 22:45