Weekly Report
Relevant news of crypto industry
Welcome to the FeLibertarian blog, where we share our views on the latest news and trends in the crypto space. Here is our weekly report on the top 6 cryptocurrency news stories of the week:
1. OKB Flash Crash Wipes Out $6.5B In Minutes, OKX Vows to Reimburse Traders: This was a shocking event that exposed the fragility and vulnerability of centralized exchanges. OKB is the native token of OKX, one of the largest crypto exchanges in the world. On January 21st, OKB suddenly dropped from $32 to $16 and then recovered within minutes, causing massive liquidations and losses for traders. OKX blamed a technical glitch and promised to compensate users for their losses, but this incident raises serious questions about the security and reliability of centralized platforms. We believe that decentralized exchanges (DEXs) are the future of crypto trading, as they offer more transparency, fairness, and control to users.
2. Trump Doubles Down on Anti-CBDC Stance, Gives Full Credit to Ramaswamy: We applaud former President Trump for his consistent opposition to CBDCs, which are nothing but a tool for government surveillance and control over people’s money. Trump reiterated his stance during a rally in New Hampshire, where he praised Ramaswamy, the founder of Astra, a decentralized social media platform that aims to challenge Big Tech censorship. Ramaswamy is also a vocal critic of CBDCs and has warned about their dangers in his book Woke Inc. We support Ramaswamy’s vision of a free and open internet that respects individual rights and privacy.
3. Avalanche Foundation Unveils Eligibility Criteria Framework for Acquisition of Meme Coins: This is an interesting move by the Avalanche Foundation, which is behind one of the fastest and most scalable blockchains in the industry. The foundation announced that it will acquire meme coins that meet certain criteria, such as having a strong community, a clear use case, and a positive impact on the Avalanche ecosystem. The foundation said that this initiative is part of its mission to foster innovation and diversity in the crypto space. We think that this is a smart way to attract more users and developers to Avalanche, as well as to recognize and reward the creativity and humor of the meme coin community.
4. Top Crypto Gainers Today on DEXTools — XETH, TWEET, KABO: These are some of the tokens that have performed well today on DEXTools, a popular platform for analyzing and trading on DEXs. XETH is an Ethereum-backed synthetic asset that tracks the price of ETH without requiring ETH as collateral. TWEET is a social token that rewards users for tweeting about crypto projects. KABO is a
