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RoboFi News Review: Top Crypto News of the Week

This week’s news roundup is presented below.

Crypto winter end in sight as Ethereum looks to shake the chills- analysts

Most big banks and investment managers think the cryptocurrency market will pick up in 2023 after a rough year in which bitcoin dropped about 75% from its all-time high in November 2018 to its all-time low in December 2018. The collapse of cryptocurrency exchange FTX, which is the latest in a string of liquidity squeezes and bankruptcies that have scared investors, has shown that the highly speculative sector needs more rules.

Binance halts withdrawals of major USDC stablecoin

The biggest cryptocurrency exchange in the world, Binance, said on Tuesday that it had “temporarily stopped” withdrawals of the major stablecoin USDC. Around 8:20 GMT, Binance’s CEO Changpeng Zhao tweeted, “There have been more withdrawals on USDC.”

Crypto firm Binance says deposits returning after heavy withdrawals

The head of the largest cryptocurrency exchange, Binance, said on Wednesday that deposits were coming back. This was a day after the exchange saw a lot of cryptocurrency leave and had to stop some stablecoin withdrawals. Nansen, a blockchain data company, said that $1.9 billion was taken out of Binance in 24 hours. This was the most money taken out of Binance since June. Later, it said that users had taken out $3.7 billion in cryptocurrency in the week leading up to Tuesday.

Amid crypto turmoil, Hong Kong debuts first crypto futures ETFs

Two exchange-traded funds (ETFs) that track U.S.-listed cryptocurrency futures have raised a total of $73.6 million ahead of their debut on the Hong Kong stock exchange on Friday, despite the meltdown in the sector. Cryptocurrencies have been in a lot of trouble for months, and the collapse of the crypto exchange FTX is the latest blow to the industry. The largest cryptocurrency, Bitcoin, has lost more than 70% of its value since November 2021, when it hit a record high.

EVs and crypto mining seen as emerging risks for U.S. power reliability

The North American Electric Reliability Corporation says that the use of electric cars and the rise of cryptocurrency mining will create new problems for the U.S. power grid in the coming years. In its long-term reliability assessment, NERC said that more EVs, which are being pushed by government policies like the U.S. Inflation Reduction Act, and the energy-intensive mining of bitcoin will put more pressure on the country’s already-weak electrical grid. This is because power plant closures are happening faster than new capacity is being added, and severe weather is getting worse.

About RoboFi

RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.

About VICS

VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.

Official Link

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