Weekly news: 7. — 13. February

Russia decided about BTC, Drake and his betting in BTC, Binance and Forbes, Bitfinex hackers cought and facing prison and Tesla is still HODLing.

Russia + BTC

Some time ago we have informed you in our weekly news that Russia is considering banning crypto. The dispute was between the government and central bank in Russia. On Tuesday the agreement comes to light where everything is set straight. Russia’s government and central bank is now working on a draft law, which should define cryptocurrencies as an “analogue of currencies”. In the announcement is also stated that Bitcoin transactions and possession of cryptocurrency in Russia are not prohibited, but they must be made through the “digital currency exchange organizer” or exchange which is licensed to do so in Russia. As last mentionable information in announcement is that cryptocurrency transactions of more than 600,000 rubles, which is roughly $8,000, would have to be declared, otherwise, it could be considered as a criminal act.

Drake is betting in BTC

The biggest NFL event is coming and is set to happen on 14. of February. Yes, we are talking about Super Bowl. In this year's Super Bowl we will see Los Angeles Rams against Cincinnati Bengals, with Rams being the favorites. In the sport event that huge is also involved betting. Now, this year was made one particular bet. The rapper Drake made bet in Bitcoin worth $1.26 million. This bet is divided into few smaller bets. The rapper bet over $471,000 for the Rams to be the winner, including overtime. As a next bet he placed around $392,000 on Beckham Jr. having more than 62.5 receiving yards. And as a last part he put $392,000 on the wide receiver having over 0.5 anytime touchdowns. The whole bet was made in BTC.

Binance invests $200M in Forbes

Binance, the world's largest cryptocurrency exchange by trading volumes, is making huge investment. This investment is being put into the magazine Forbes. The reason for this $200 million investment is that Binance wants to make cryptocurrency more known to customers and also improve consumer understanding of cryptocurrencies and Blockchain.

According to Forbes CEO Mike Federle, the investment from Binance will help the firm get the experience, network and the resources of the world’s leading crypto exchange and one of the world’s most successful Blockchain innovators.”

The CEO of Binance, Changpeng Zhao, pointed out the importance of supporting media in the crypto industry.

Bitfinex hackers cought

On Tuesday, after 5 years, the authorities announced that they arrested hackers responsible for 2016 BitFinex hack and also seized $3.6 billion in cryptocurrency. In the announcement the U.S. Department of Justice said that they ordered the arrests of Ilya Lichtenstein and his wife Heather Morgan. These partners stole 119,756 Bitcoin in 2016, which were valued at $72 million at the time of the hack, but now its value is more than $5.1 billion. This arrest and seizure is representing one of the biggest seizures of crypto by government authorities. Lichtenstein and Morgan are charged with conspiracy to commit money laundering and conspiracy to defraud the United States. They both are facing up to 25 years in prison.

Tesla is HODLing

Tesla, the biggest manufacturer of electric cars, is still HODLing impressive amount of BTC. The company released its official records. In these records is stated that Tesla was holding about $2 billion worth of Bitcoin by the end of 2021. Last February, the company announced that they bought $1.5 billion worth of BTC. In March 2021, the small portion of BTC was sold with gains valued at $128 million. In the record it is also a stated the Tesla’s loss in BTC. In 2021 Tesla recorded $101 million of losses on BTC. Currently Tesla holds 43,200 BTC. This makes the company second largest BTC investor after Michael Saylor’s MicroStrategy, which is HODLing a total of 125,000 BTC.

Thank you for reading.

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Bringing you news, updates, predictions and analysis from CryptoHunters in compact, easy-to-digest format. We run on transparency and passion: cryptohunters.tech

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Štěpán Táborský

Štěpán Táborský

College student, Crypto enthusiast, working at CryptoHunters, Intern at Škoda Auto a.s.

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