Leading cryptocurrency Bitcoin sank 5% over the last week, and as of this writing was trading at $40,205.
Solana, Cardano, and Avalanche—the three leading smart contract-enabled “Ethereum killers”—posted seven-day losses of around 8%.
That gives Binance the green light to apply for a license in the UAE to operate as a virtual asset broker-dealer.
On Tuesday, crypto payments company Circle announced a $400 million funding round led by asset manager BlackRock.
On Wednesday, Binance CEO Changpeng Zhao announced that the company is getting floorspace in the world’s biggest startup incubator, Studio F, in Paris.
Elsewhere, CoinSwitch Kuber became the second major Indian cryptocurrency to disable cash deposits via the popular United Payments Interface payments system.
On Friday, former Ripple adviser and law professor Michael Barr was named President Joe Biden’s first choice to become vice chair for supervision at the Federal Reserve.
Finally, that same day, Portuguese regulators licensed Bison Bank to act as the first crypto bank in the country.