Weekly Update: May 27th- June 2nd 2023
The market overall for this week is much like the last. Slightly positive, which in the grand scheme of things is always better than the alternative. FUD continues for crypto in general in the United States. Senator Elizabeth Warren recently stated that fentanyl distribution is fueled by crypto due to the acceptance of Bitcoin as payment. China is of course famous for caring what American Senators think and cash has never been used for anything illicit ever. The US has recently passed a debt ceiling bill as unemployment climbs to 3.7%, so that’s something. Meanwhile, China and the UAE met to discuss the future of crypto and regulation. Some support for crypto is coming out on both sides of the political spectrum in America so perhaps this is only a rough patch as we move towards the future, one that is inevitable.
Current live standings at the time of writing this are as follows:
BTC: $27,265.90
ETH: $1,908.85
BNB: $308.00
The meme space remains a volatile one with Pepe down 14% this week. Until a bull market is certain, we will likely continue to see massive swings going forward. Memes are clearly going to have a place in the space moving forward regardless of how anyone feels about them at their core.At the end of the day they are all peer to peer currencies minus obvious manipulation of course. Whether that means we should stand behind them is up for everyone to decide.
The Sphynx team continues to work mostly in the background this week on new hires, app updates, and dApp improvements. You can expect more content to be posted across all socials for the month of June as we have onboarded more people to the team in that regard. As stated last week, we are also going through the hiring process for product and integration sales team members.
We appreciate everyone’s patience regarding the launch of the Sphynx Pay Visa as well. As you may know from last week some last minute regulations came down the pipeline that has made for some delays. These are historic times for crypto as we are all seeing. We have been told that it could be any time now for the cards to be ready to go, and you will all be the first to know. The listing on our first CEX will also go hand in hand with the card when it is released to maximize our efforts.
As always, thank you to everyone that believes in Sphynx Labs and the team. We are rolling forward full steam with things no one else is even trying. Once the world knows of us, there is no stopping the train.
Stay tuned for Sphynx’s Weekly Updates posted every Friday, or be informed on the Sphynx Telegram, Twitter, and Instagram pages.
Thank you for reading, and have a great week!
Sphynx Labs Links
Aegis Sphynx Mint: https://thesphynx.co/council/56
Website: https://sphynxlabs.co
Telegram: https://t.me/sphynxlabs
Twitter: https://twitter.com/SphynxLabs
Sphynx Mobile App on Apple App Store: https://apps.apple.com/app/sphynx-defi-app/id1626361848
Sphynx Mobile App on Google Play Store: https://play.google.com/store/apps/details?id=com.sphynx
