After a rough start to the year, the price of bitcoin is about flat in the last seven days. The largest cryptocurrency by market value is currently trading at $41,671, according to Coin Metrics.
Ether, the second-largest, is up about 2% in the same time frame. It’s now priced at $3,113.
Other top coins had a better week. Cardano, Terra and Dogecoin, for example, jumped over the last seven days, Coin Gecko data shows.
Along with price movement, here are six important things that happened in the crypto space last week.
1. Kim Kardashian and Floyd Mayweather sued by investors over alleged crypto scam
In June, Kim Kardashian posted an Instagram Story promoting a cryptocurrency called EthereumMax.
“Are you guys into crypto???” she wrote. “This is not financial advice but sharing what my friends told me about the Ethereum Max token!” Kardashian included the hashtag “#ad,” which indicates that the post was paid for as promotional content.
A class action lawsuit in the U.S. District Court for the Central District of California was then filed>2. Jack Dorsey creates a legal defense fund for bitcoin developers
On Wednesday, Twitter and Block founder Jack Dorsey announced plans to create a “Bitcoin Legal Defense Fund.”
“The Bitcoin Legal Defense Fund is a non-profit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects,” Dorsey wrote in an email.
The fund will defend bitcoin developers from lawsuits, “including finding and retaining defense counsel, developing litigation strategy and paying legal bills,” with volunteer and part-time lawyers, he wrote.
3. Block will build a bitcoin mining system
On Thursday, Dorsey confirmed that Block, formerly known as Square, will be “officially building an open bitcoin mining system,” he tweeted on Thursday. The company first announced that it was considering the project in October.
Bitcoin operates>4. Cash App integrates with the Lightning Network
Dorsey has continued to focus more>5. Tesla accepts dogecoin for merch payments
On Friday, Elon Musk announced that Tesla is accepting dogecoin, a meme-inspired cryptocurrency, for certain merchandise.
This includes 835 coins for a “Giga Texas Belt Buckle” and 300 coins for a “Cyberwhistle,” among other items. That’s about $134 and $48, respectively, at current prices.
The price of dogecoin jumped more than 15%>6. Crypto.com users report ‘suspicious activity’
On Sunday, Crypto.com wrote on Twitter that “we have a small number of users reporting suspicious activity on their accounts. We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.”
Peckshield, a blockchain security and analytics company, said that Crypto.com lost about $15 million. Other publications reported an alleged hack as well, but Crypto.com has not confirmed online.
Crypto.com declined CNBC Make It’s request for comment.
“No customer funds were lost,” CEO Kris Marszalek tweeted on Monday.
