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	Good Monday morning. Billy Bambrough here with the latest crypto news and what to watch for this week. 📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.


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24-hour crypto market snapshot

Bitcoin (-2%)

$37,654

Ethereum (-1%)

$2,614

Binance coin (-3%)

$368.50

Luna (+2%)

$50.06

Market jitters 😬


	Cryptocurrency prices have made a bad start to the week, with financial markets in the U.S. closed today due to the Presidents' Day holiday. The bitcoin price has fallen to lows not seen since early February, while ethereum had a worrying weekend due to the OpenSea phishing attack (see below for details) but has since stabilized. Ethereum rivals BNB and avalanche, along with Ripple's XRP, are leading the market lower, all down around 3%. Terra's luna is the only major cryptocurrency in the green this morning, up almost 2% since this time yesterday. Meanwhile, the gold price, which has soared since the start of the crisis on the Ukrainian border, has shown bitcoin still has a long way to go before it's considered anything like a true safe-haven asset. Now read this: Bitcoin under pressure as Russia-Ukraine tensions hit risk assets

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OpenSea's NFT tsunami 🌊



	Tokens part of the popular Bored Ape Yacht Club collection that counts Paris Hilton and Jimmy Fallon as owners were affected by the attack. Getty Images

Shiver me NFTs: OpenSea, the largest online marketplace for non-fungible tokens (NFTs), on Sunday said a "phishing attack" was responsible for 32 users reporting their NFTs had been stolen after wild speculation on Saturday the platform had been hacked or otherwise compromised. Panicked traders bailed out of their bitcoin and crypto positions, with NFT primary blockchain ethereum seeing the biggest losses and highlighting the size and scale that the burgeoning NFT market has reached in just a couple of years. Read the full story on Forbes.

Treasure map: Some of the stolen NFTs were already returned over the weekend while OpenSea and online sleuths are on the attacker's trail. "We’re actively working with users whose items were stolen to narrow down a set of common websites that they interacted with that might have been responsible for the malicious signatures," OpenSea's chief executive Devin Finzer posted to Twitter. Earlier, Finzer dispelled rumors that the attacker stole $200 million worth of NFTs. Finzer said the hacker "has $1.7 million of ETH in his wallet from selling some of the stolen NFTs."

Why it matters: Cybercriminals hoping to take advantage of the huge bitcoin, crypto and NFT boom are repeatedly realizing how hard it is to steal and fence blockchain-based assets when the whole world can see where they come from and where they end up.

Good to know: Vitalik Buterin calls Canada's use of banks to stifle protestors 'dangerous'

Fed official's stablecoin warning ⚠️


	🏈 Federal Reserve governor Lael Brainard has issued a warning over both the rapid growth of stablecoins such as tether and USDC and the level of investor exposure to them, citing the huge number of crypto-based Super Bowl ads as evidence. Read the full story on Forbes. 🗣️ Brainard, speaking in New York at the U.S. Monetary Policy Forum on Friday, called on regulators to implement "strong frameworks for the quality and sufficiency of reserves and risk management and governance, with respect to the stablecoin marketplace." 💱 Brainard also forecast the stablecoin market could in the future "could come to be dominated by just one or two issuers," with Tether's USDT currently taking up almost half of the market. Now read this: A Q&A with the researcher who identified Coinbase's 'market-nuking' trading bug

The week ahead 🗓️


	👁️ Keep an eye out for these cryptocurrency and crypto-adjacent events this week. 📣 Donald Trump-backed social network Truth Social launches today, coincidentally Presidents Day in the U.S., where financial markets are closed for the day. On Thursday, the U.S. Conservative Political Action Conference begins with Trump is expected to be among the speakers. - Trump’s Truth Social is poised to join a crowded field ✍️ At some point this week, the Biden administration is expected to issue a long-awaited crypto oversight executive order, according to a Yahoo Finance report last week. That could be delayed if Russia invades Ukraine, of course. 🏦 On Wednesday, Bank of England governor Andrew Bailey will appear before U.K. lawmakers to discuss the Bank's quarterly Monetary Policy Report. Inflation in the U.K. has surged to its highest point in almost 30 years. 💸 Coinbase, which has seen its stock price almost halve since its market debut last year, will report full-year earnings on Thursday. The Motley Fool has a primer. Other high-profile earnings reports to look out for include spaceship company Virgin Galactic, whose bitcoin-boosting chairman the billionaire Chamath Palihapitiya suddenly stepped down last week, and China's biggest online retailer Alibaba. 🔮 On Saturday, the Oracle of Omaha and crypto critic, Warren Buffett, is set to publish his annual letter to Berkshire Hathaway shareholders and report results. Good to know: Investors stuck in the biggest bitcoin fund have flooded the SEC with letters

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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