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Crypto Market Weekly Summary: August 23 - August 27, 2021

Updated: Aug 28, 2021

Crypto Market Highlights

  • Crypto ‘not protected by law,’ rules Shandong provincial high court in China

  • China’s central bank: Virtual currencies such as Bitcoin aren’t legal tender, have no actual value

  • Grayscale Tops Up Ethereum Investment To $10 Billion

  • Stablecoin USDC to consolidate reserves into cash and US treasuries

  • OpenSea NFT Platform Eclipses $1.5B in Monthly Trading Volume

  • MicroStrategy Acquires Nearly 4,000 Bitcoin for $177 Million

  • Japan’s Financial Services Agency Considering Stricter Crypto Regulations

  • CFTC Commissioner Stump: Digital assets not regulated by the CFTC even if they are a commodity; rather CFTC regulates derivatives

  • Infrastructure bill set for a House vote by S