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Terra’s Big Backers, Shanghai Court Declares Bitcoin Property, BTC Obituaries, and Triple Top Hopes — Bitcoin.com News Week in Review

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Terra"s Big Backers, Shanghai Court Declares Bitcoin Property, BTC Obituaries, and Triple Top Hopes — Bitcoin.com News Week in Review


With the nightmare nosedive of Terra’s LUNA and UST, the Shanghai High People’s Court declaring that bitcoin is virtual property protected by Chinese law, a surge in Bitcoin Obituaries, and some hoping for a rare triple top to appear for BCT, the past week has been full of shock, questions, speculation, and broader market resilience in the crypto community. Without further ado, this is your bite-sized digest of the week’s hottest crypto news.


Uncovering Terra’s Implosion — Terraform Labs’ Big Name Backers and ‘Zero Exposure’ Claims


Terra’s founder Do Kwon revealed a plan on Wednesday, but after some brief healing, Terra’s native tokens LUNA and UST continued to plummet. Now people are beginning to wonder who backed this popular crypto project, and which crypto firms had a lot of exposure to the failing assets.


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Shanghai High Court Declares Bitcoin Virtual Asset With Economic Value Protected by Chinese Law


The Shanghai High People’s Court has declared bitcoin to be a virtual asset protected by Chinese law. The court notes that the cryptocurrency has economic value.


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2022 Bitcoin Obituaries List Outpaces First 3 Years, Schiff Says Its ‘Highly Likely Bitcoin Will Crash Below $10K’


While bitcoin’s price has dropped to levels not seen since January 2022, a number of detractors think bitcoin is on its death bed. Data stemming from the Bitcoin Obituaries list shows the leading crypto has died seven times in 2022, outpacing the first three years of obituaries by year written by bitcoin haters. The last obituary written about bitcoin, opined by the financial journalist, John Plender, claims the leading crypto asset follows the “greater fools” scenario.


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As BTC Slides Toward Resistance, the Chance of a Rare Triple Top Formation Comes Into Play


While crypto markets look extremely bearish these days, a few crypto advocates have theorized the bear market will be less harsh this time around. Furthermore, there’s also the rare scenario that bitcoin’s price could reverse and see a triple top even though it’s commonly said in the finance world “there is no such thing as a triple top.”


Read More Tags in this story Bitcoin Obituaries, Court, Crash, do kwon, LUNA, Markets, Peter Schiff, Shanghai, Terra, Triple Top, UST, Virtual Property, Week in Review


What are your thoughts on this week’s top stories? Let us know what you think in the comments section below. Bitcoin.com


Bitcoin.com is your premier source for everything Bitcoin-related. We can help you buy bitcoins and choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other Bitcoin-related companies. Joe Rogan Says Bitcoin Is "Freaking Out" Government, the Latest on Inflation, and More — Bitcoin.com News Week in Review THE WEEKLY | May 8, 2022 Jack Dorsey Muses on Social Media "Takeover," Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review THE WEEKLY | Apr 24, 2022


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTop Video Game Artists Adopt NFTs to Help Ukraine, Collection to Release on Official MetaHistory Museum Next articleTrust in Decentralized Finance Rattled After $100 Billion Left the Defi Economy Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits


As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

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