Introduction: Bitcoin Gaining Momentum

The price of Bitcoin surged this week, reaching all-time highs but facing rapid corrections soon after. It dropped to around $59,000 before bouncing back and surpassing $70,000 on Friday. Some draw comparisons to Bitcoin's historical highs in 2020, where similar sharp corrections occurred. This rally, driven by speculation around inflation easing and potential interest rate cuts, is an unprecedented event in crypto history occurring before a halving event. Inflation-adjusted, Bitcoin would need to surpass $78,905.45 for a true new all-time high.

Do Kwon's Legal Saga

In the ongoing legal saga involving Do Kwon, a court in Montenegro recently decided to extradite him to South Korea after March 23rd instead of the U.S. This decision came after previous plans for extradition to the U.S. were set aside. While Kwon is unlikely to appeal, the U.S. Justice Department remains steadfast in holding crypto individuals accountable under the law.

Derpy Memecoin Mania

The meme coin market witnessed a surprising surge, with coins like $BODEN (named after U.S. President Joe Biden) attracting significant returns. This trend extended beyond political figures to include celebrities and historical icons. Dogwifhat (WIF) saw its value soar over $2 after being listed on Binance. These highs and lows unfolded on Solana, highlighting the blockchain’s ability to spur speculative trading with minimal fees.

Worldcoin Faces Hurdles

Spain recently banned Worldcoin due to data and privacy concerns, joining a chorus of critics skeptical of eyeball coins. In response, Worldcoin filed a lawsuit, alleging that the ban circumvented EU regulations and propagated misinformation about the currency.

ShapeShift Resolves SEC Dispute

ShapeShift, an established crypto exchange, settled with the SEC over charges of operating as an unregistered securities dealer. The exchange, operational since 2014, closed in 2021 following a cease-and-desist order from the SEC. To settle the allegations, ShapeShift agreed to a $275,000 settlement. This settlement underscores the ongoing interaction between the crypto industry and regulatory authorities, emphasizing the importance of compliance and governance in the sector.