Bitcoin surge, Nike celebration, Binance loans, hacks, scandals and more..

4 min readMay 29, 2023

Coming Into a week showing signs of resurgence in the cryptocurrency market, we take a look at the Latest News that happened between Thursday and Monday.

Hong Kong Police Launch Metaverse Platform

The cybersecurity unit of the Hong Kong Police Force has launched “CyberDefender”, a metaverse platform built to educate the public about the potential dangers associated with Web3 and the metaverse.

This development comes in amidst the report that 663 cases involving virtual assets were reported in Hong Kong during Q1 2023. This represented a total loss of $570 million, a 75% increase compared with Q1 2022.

Nike Celebrates $1m Sneaker NFT sales

The highly-anticipated Nike NFT Sneaker collection, released on May 15, surpassed $1 million in sales in less than 10 days. The collection was released on the company’s. SWOOSH Web3 platform, with over 66,000 NFT sales reported on May 25, 2023. The sale price of each NFT is $19.82, paying homage to the year the Air Force 1 Sneaker was first launched. With these figures, the net sales income amounts to approximately $1.3 million, and sales are expected to continue until the end of June.

While these numbers show promise, it’s worth noting that Nike has sold only one-third of its NFTs so far, a deviation from its usual trend of physical releases selling out within minutes.

Ron Desantis Accuses Biden of “Killing Bitcoin”

Ron DeSantis, a Republican presidential candidate, has criticized the approach of the current administration led by President Joe Biden towards Bitcoin (BTC), stating that if the ongoing regulatory crackdown persists, they might end up “killing it.”

The governor of Florida expressed this opinion during a Twitter Space session on Thursday, May 25, where he participated alongside Elon Musk. The session was hosted by David Sacks, a US entrepreneur and tech investor.

Jimbos Protocol loses $7.5 million to Cyber hack

Arbitrum-based Jimbos Protocol is the latest victim of a cyber-attack that led to a significant loss of funds.

According to the blockchain security firm PeckShield, Jimbos Protocol, which is the liquidity protocol of the Arbitrum system, was hacked on the morning of May 28. The attack resulted in the loss of 4,000 Ether, which was valued at approximately $7.5 million at the time.

The attacker reportedly exploited the absence of slippage control on liquidity conversions in the Jimbos pool.

Binance launches NFT loan service

The world’s number one cryptocurrency exchange, Binance, has launched an NFT loan feature. This new feature allows users of the Binance NFT

Marketplace to obtain ETH without trading their NFTs and with zero gas fees for transactions.

The feature is available to holders of certain NFTs in their portfolio, and the amount of access granted to each user depends on the floor price of their respective NFTs. The lending feature starts with holders of four popular NFTs: the Bored Ape Yacht Club, the Mutant Ape Yacht Club, Azuki, and Doodles.

Polygon Launches NFT ticketing feature with Formula 1

The NFT ticketing program, a partnership between Polygon, Elemint, Bary and Platinium Group has been launched for the first time at the Formula 1 Monaco Grand Prix.

The iconic F1 race, which was held between 26–28 May, saw the issuance of customized, non-falsifiable NFT tickets to participants, which also serve as digital collectibles and unique souvenirs to commemorate the event.

Platinium Group, the largest ticket operator for all Formula 1 Grand Prix events, will now offer Formula 1 fans the more secure and interactive ticketing experience going forward.

Reclaims 28k

In recent days, the cryptocurrency market has experienced a notable resurgence. This resurgence is spearheaded by Bitcoin’s recovery and successful reclamation of the $28k price level. Bitcoin is starting the trading week up 5% at $28,249 after the White House announced that a deal to avert a debt ceiling crisis has been reached. This movement is not limited to Bitcoin alone, as other altcoins have also shown signs of a short-term upward movement.




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