Crypto Around The World: May 7 Review

As Bitcoin took some blows this week along with traditional stocks, Ether managed to soar to new highs amid buzzing institutional attention. Here is what happened around the world. 

Mexico-Based Company Gains Unicorn Status

A Mexico-based crypto exchange by the name of Bitso was valued at $2.2 billion this week, making it the first Latin American company to exceed the $1 Billion mark. Bitso recently raised a quarter of a billion dollars in a funding round, money that it plans on using to further expand in the region. 

Iran’s Central Bank Steps In For Semi-Regulation

Sort of regulation! The Central Bank has reportedly placed a ban on any cryptocurrencies mined outside the republic. This move was seen as strange by many and was most likely put in place to prevent capital flight and to mitigate issues caused by the current sanctions set in place. 

Sotheby’s Ready to Auction “First NFT”

Just a month after the historic Beeple sale that took place at Christie’s auction house, Sotheby’s London is launching an auction of the first NFT that was ever minted: Kevin McCoy’s “Quantum” – that was minted back in 2014. Previously, Sotheby’s had raked in an impressive $17 Million with the sale of works by digital artist Pak. 

The sale is set to take place in June. 

India’s Central Bank Owned Retail Platform Refuses to Ban Crypto

It’s crypto confusion in India as the country’s Central Bank-Owned retail platform has left it up to individual banks to decide on allowing or blocking crypto trade. This comes after the Indian Supreme Court overturned a 2018 banking ban on cryptocurrency. 

Bitcoin Sees $250K Prediction, As Crypto Banking Inches Closer