Last Week In Crypto, A Quick Summary

Crypto enthusiasts and investors alike were treated to another eventful week on Crypto Twitter, as various personalities shared their thoughts on the latest happenings in the industry. Here are some of the highlights from this week on Crypto Twitter.

Binance CEO Changpeng Zhao, also known as CZ, kicked off the week by calling out Tron CEO Justin Sun for a $56 million token transfer to Binance. CZ suggested that Sun might use the funds to farm a soon-to-be-launched token called SUI. Sun quickly responded, saying that the transfer was a mistake and offering an apology. Representatives from Tron later confirmed that the refund had been executed.

It should be taken into account that the comment that the launchpool airdrops were meant for retail users has a bit of significance when you realize that the distribution of SUI has been anything but “retail-friendly”.

Crypto researcher and critic Molly White pointed out “super weird reporting” around Binance’s claims that someone with links to Congress is using ChatGPT to launch a smear campaign against it. Meanwhile, Robert F. Kennedy Jr., a Democrat 2024 presidential hopeful, added to the conspiracy theories on Crypto Twitter by suggesting that there is a top-down “war on crypto” that had something to do with the recent collapses of Silicon Valley Bank, Silvergate, and Signature.

On Wednesday, Web3 enthusiast and NFT collector Moritz synthesized 15 different media reports to start a rumor that Amazon will launch an NFT marketplace on May 15. While some skeptics dismissed the rumor as baseless, it nonetheless generated buzz among NFT enthusiasts.

Elon Musk, CEO of Twitter, Tesla, and SpaceX, weighed in on Thursday by adding his two cents on the White House’s cooperation with tech giants to ensure responsible AI innovation. Meanwhile, El Salvador’s authoritarian President Nayib Bukele, who made Bitcoin legal tender in his country, announced that he had signed into law an act that aims to help develop the country’s tech sector.

Finally, New York Attorney General Letitia James announced on Friday her “nation-leading legislation to tighten regulations on the cryptocurrency industry.” The proposed legislation would require companies operating in the cryptocurrency industry to register with the state, adhere to certain cybersecurity standards, and disclose risks associated with digital assets.

Popular electro-pop star Grimes offered a 50% share of royalties for any creator who could craft a pop hi using her AI-generated voice but there seems to be a few issues with the project.

Finally the trail of hype was followed by  NFT enthusiast @CirrusNFT and displayed how hype played a major part in most crypto projects with some jumping shit from Bored Apes to the new $PEPE project

This week on Crypto Twitter was marked by a mix of drama, rumors, and regulatory developments. While the industry continues to face challenges, the buzz and excitement around cryptocurrency and blockchain technology remain as strong as ever.

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