From China’s bitcoin mining crackdown to billionaire investor Mark Cuban’s DeFi investment crash, a lot happened in crypto over the past week.
With the top cryptocurrencies by market value remaining in the red Monday afternoon, here are seven things worth knowing.
1. Kim Kardashian West was paid to advertise a digital coin on Instagram
Influencers, such as the D’Amelio family and Tana Mongeau, have started to post paid advertisements on their social media platforms for different digital coins and exchanges.
Followed by a short clip of her speaking to her camera about ethereummax with “#ad” written at the bottom of the screen, Kardashian West posted text: “Are you guys into crypto???”
“This is not financial advice but sharing what my friends told me about the ethereum max token!” the post read. She added several hashtags, including #ad, which is required in order to disclose that her post is paid for.
2. China’s bitcoin miners are migrating
Texas appears to be an ideal destination for miners due to its deregulated power grid and pro-crypto political environment.
“You are going to see a dramatic shift over the next few