Ruble Hits 7-Year High, Bukele, O’Leary Unfazed by Crypto Downturn, Elon Musk Will Keep Buying DOGE — Bitcoin.com News Week in Review

As sanctioned Russia’s fiat currency soars in value against the US dollar, and crypto markets remain unpredictable, economists and crypto enthusiasts continue to puzzle and debate over what the next market move will be.

Moody’s downgrades Coinbase due to bear: Warns it may not be the last

Moody’s said further downgrades could follow if Coinbase doesn’t diversify from its current revenue model or it's unable to turn a profit even in a prolonged bear market. Credit ratings agency Moody’s has downgraded the Corporate Family Rating (CFR) and guaranteed senior unsecured notes of crypto exchange Coinbase, and stated that both ratings have been placed under review for further downgrade.The CFR, a rating assigned to reflect Moody’s opinion of a company’s ability to honor its financial obligations, was downgraded from Ba2 to Ba3 which is considered as below non-investment grade.Senior unsecured notes are a type of debt a company holds that is not backed by any assets and in the event of bankruptcy must be repaid before any others.

$100K BTC Predictions, Peter Schiff on Recession and Bitcoin, Bill Gates Slams NFTs — Bitcoin.com News Week in Review

It’s been a week of polarizing opinion in crypto news.

Little-Known Altcoin Soars 197% in Just One Week, Far Outperforming Bitcoin, Ethereum and Crypto Markets

One blockchain-based review platform is defying current market trends, exploding by nearly 200% in the past seven days.

EU commissioner reiterates need for 'regulating all crypto-assets'

Mairead McGuinness said that she planned to discuss a compromise through the MiCA proposal currently under review in the EU. Mairead McGuinness, the Commissioner for Financial Services, Financial Stability and Capital Markets Union at the European Commission, is moving forward with a discussion on regulating cryptocurrencies amid three major events in the space.In written remarks for a speech in Brussels on Tuesday, McGuinness said the Celsius Network's recent suspension of withdrawals, as well as the crash of Terra (originally LUNA, now LUNA Classic, or LUNC), show the need for crypto-asset regulation in the European Union.

Russian Parliament to Review Bill Prohibiting Crypto Payments

Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament.

Kim Dotcom on the ‘Great Reset,’ Strong Russian Ruble Puzzles Economists, and More — Bitcoin.com News Week in Review

This week, entrepreneur and activist Kim Dotcom said the “US is beyond bankrupt,” and minced no words about a potential “controlled demolition of global markets.” Meanwhile, American economists are interested in the ruble’s strong performance in spite of sanctions against Russia, a new book emerges claiming to tell the “Real Story Behind Mysterious Bitcoin Creator […]

Ledger Nano S Plus Review: A Top Hardware Wallet Refreshed for 2022

Ledger's base-model hardware wallet gets a long-overdue update, adding a bigger screen and increased storage capacity.

Bank of America CEO: Regulation Won’t Let Us Engage in Crypto; Kiyosaki Talks Depression, Civil Unrest, and More — Bitcoin.com News Week in Review

The new LUNA records gains amidst controversy, “Big Short” investor Michael Burry and author Robert Kiyosaki weigh in on recession, depression, and looming civil unrest.

Enjoy Easier Futures Trading Through CoinEx Futures

According to TokenInsight 2021 Crypto Trading Industry Annual Review, the industry continues to break through, with 2021 full-year trading volume reaching $112 trillion, of which about half is futures contracts ($57 trillion), compared with spot trading that accounts for 43% ($49 trillion).

Aussie banks ANZ and NAB won’t 'endorse' retail speculation on crypto

Executives from two of Australia’s “big four” banks have said they won’t allow their retail customers to trade crypto with ANZ adding its happy it didn’t “go head long” into a cryptocurrency offering. Executives at two of Australia’s “big four” banks have ruled out allowing retail customers to trade cryptocurrency on their platforms, with one reasoning that customers don’t understand “basic financial well-being.”Speaking at the Australian Financial Review Banking Summit on May 31 Maile Carnegie, executive for retail banking at Australia and New Zealand Banking Group (ANZ) said that from speaking to retail customers she believed “the vast majority of them don’t understand really basic financial well-being concepts.”“Are we really going to make it easier and less friction and implicitly endorse speculating on crypto when they don’t understand basic financial well-being? The answer was no.”Carnegie said ANZ had considered a cryptocurrency product from as early as 2017 adding she was “happy we didn’t go head long” into the offering.Also attending the summit was chief digital officer for National Australia Bank (NAB) Angela Mentis who was asked if NAB would consider offering crypto trading.