The last week has been fairly quiet in the markets, and had it not been for BTC’s 5% tumble in price yesterday, the same could be said for crypto. The reason for this tumble are likely found in the midst of the uncertainty found around crypto-friendly bank Silvergate, which has been having more than a tough time lately. First the bank could report a loss of around $1B due to the FTX saga, and yesterday the company then announced that it would not be able to file its annual report in time which sent its shares down 55 per cent. Crypto Lens - Stablecoins under attack! The amount of value sitting in stable coins has fallen to its lowest point since May 2022. This decrease has historically meant rising prices for other crypto assets, but the latest fall can probably be attributed to the fact that the Securities Exchange Commission (SEC) took the first stab towards the stablecoin sector when it recently issued a Wells Notice to Paxos, the BUSD stablecoin issuer. Percentage of the total crypto market cap comprised of stablecoins: Blockworks Liquid Staking TVL Supasses DeFi Liquid staking, which allows users to earn rewards for locking their Ethereum (ETH) on the proof-of-stake (PoS) network, has in popularity in recent months. seen a surge The total value of crypto assets deposited in liquid staking protocols has now surpassed that of decentralized lending and borrowing protocols, making it the second-largest sector in the DeFi space. According to data from , the total value locked in liquid staking protocols was $14.1 billion as of Monday, while the total value locked in DeFi lending and borrowing protocols was $13.7 billion. Decentralized exchanges, with deposits of $19.4 billion, hold the top spot. DeFi Llama With the Ethereum Shanghai upgrade scheduled for this month, liquid staking protocols (LSDs) are likely to attract even more capital in the near future. (Originally by CoinDesk) reported Noteworthy Mentions NFTs and Traditional Industries: A New Frontier for Creative Commerce This week, Hackernoon featured our latest research article as one of their top stories. In this special piece, we delve into the world of NFTs and how they are revolutionizing industries such as gaming, financial markets, and sports. If you're keen to learn more, you can access the full feature . here Ulrik Lykke Provides Commentary on Danish Crypto Protocol, Concordium In an article on (Danish), Ulrik Lykke commented on the recent change in leadership at Concordium, stating that there may actually be a silver lining with the project's former CEO, Lone Fønss Schrøder, stepping down. børsen.dk Industry Shakers Coinbase unveils a Layer-2 blockchain Coinbase recently launched Base, an Ethereum-focused layer-2 (L2) blockchain to simplify the creation of decentralized applications (dApps) for developers and streamline the user experience. As the second largest crypto exchange, Coinbase seeks to enhance the utility of dApps and make them more accessible through their products. FTX Japan allows total withdrawal of funds As FTX customers around the world wait for the conclusion of the FTX and Sam Bankman-Fried (SBF) litigation, FTX Japan users have begun to take out all of their funds. A day after reinstating withdrawals, FTX Japan disclosed that close to 6.6 billion yen ($50 million) had been removed. Confirmations from several members of the community have established that all of their money was paid out. FATF Agrees on Action Plan to Drive Implementation of Global Crypto Norms The Financial Action Task Force (FATF) has devised a strategy to ensure swift compliance with its global cryptocurrency standards, according to a report from its latest plenary meeting. The international watchdog highlighted that several nations have yet to follow its guidelines, including the "travel rule,". Although FATF updated its crypto standards in 2019, it found last June that just 11 out of 98 surveyed regions enforced the travel rule and called for quicker action. Silvergate stock crashes after delay of annual report On Thursday, the value of Silvergate shares plummeted almost 50% after the firm revealed it was assessing its capability to remain a viable business. The disclosure of this information came with Silvergate's admission that it would not be able to submit its annual report to the Securities and Exchange Commission by the due date. Subsequently, Coinbase exchange declared it will no longer be using Silvergate (SI) for dollar payments for institutional customers, and it will instead switch to Signature Bank (SBNY). Australian central bank to launch ‘live pilot’ of CBDC In the coming months, Australia's central bank will be launching a "live pilot" of a central bank digital currency. This trial will include the use of offline payments, tax automation and a CBDC for Web3 commerce and will involve a range of participants, such as Commonwealth Bank, Australia and New Zealand (ANZ) Bank, and payment providers like Mastercard. Also published . here

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