Celsius Shortfalls, Ethereum Dates, Federal Guidelines, Canadian Caps and 20 Crypto Jokes

Another week filled with ups and downs in the crypto market. This time, it was Acala Network’s turn to get hacked, which was in line with the latest Chainalysis report that found an increase in crypto hacking and theft indices this year. Meanwhile, Terra’s Do Kwon sparked more Twitter drama.

Further, Celsius Network revealed a USD 2.8 billion crypto shortfall, as well as a ‘delusional’ plan for reorganizing, and sanctions against Tornado Cash protocol have sparked a resistance movement within a community, while ETH developers have firmed up the much-anticipated merge date.

At the same time, Federal Reserve revealed its guidelines for the US-based crypto banks, Canadian regulations are making exchanges introduce a cap on annual crypto purchases with several exceptions, while their South Korean counterparts have gone after sixteen international crypto exchanges. Last but not least, Russian banks are hoping to advance their digital ruble initiative by 2024, while bitcoin miners located in the country doubled their energy usage last year.