It has been an eventful week in crypto, especially with the German government on a selling spree while the spot Ethereum ETF applicants in the US gear up for a probable green signal from the SEC. The week also saw increased threats to the security of DeFi protocols through domain registry attacks. Let’s find out more.
Bitcoin
The German government is continuing to sell its large Bitcoin position near the market bottom while it is being absorbed by buyers. This move could be held up in years to come as one of the worst financial decisions by a sovereign country since the UK started to sell more than half of its gold reserves at the bottom of a 20-year bear market between 1999 and 2002.
Justin Sun has offered to purchase the German government’s $2.3 billion Bitcoin holdings off-market to prevent potential negative impacts on the cryptocurrency’s price.
Ethereum
As requested by the U.S. Securities and Exchange Commission (SEC), several asset managers filed updated S-1 reg
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