Unable to Dispense BTC

Hello there!

Cheers to another cool crypto week—well, not all that cool, seeing how 80% of the market traded in the red. The bright side is that there were some tiny wins during the week.

Here are the major highlights from last week

• Over 400 Bitcoin ATM machines went off the grid in under 60 days
• Polygon launches decentralized ID product powered by ZK proofs
• Coinbase announces suspension of BUSD trading beginning March 13
• Visa and Mastercard halt new crypto partnerships

Over 400 Bitcoin ATM machines went off the grid in under 60 days

Since 2014, the total number of crypto ATMs has maintained a steady upward trajectory while catering to millions of users worldwide for seamless crypto-fiat conversions. For over a year, between December 2020 and January 2022, more than 1,000 crypto and Bitcoin (BTC) ATMs were being installed every month. However, the bear market had an immediate impact on its growth. Read the full story.

Polygon launches decentralized ID product powered by ZK proofs

Polygon, a popular scaling solution for Ethereum, has launched its long-awaited zero-knowledge-powered ID protocol.

The service uses zero-knowledge proofs (ZKPs), an advanced form of cryptography used to preserve privacy on-chain, allowing users to verify their identity without publicly exposing sensitive information. Read the full story.

Coinbase announces suspension of BUSD trading beginning March 13

The exchange announced its plans to suspend Binance USD trading on March 13. The message mentioned its "listing criteria" as being behind the decision. According to a Twitter thread, the decision will apply to Coinbase.com (Simple and Premium), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. Read the full story.

Visa and Mastercard halt new crypto partnerships

The decision comes in the context of last year’s high-profile collapses such as FTX and BlockFi, which concerned investors and spurred a worldwide regulatory effort. As a result, certain Visa and Mastercard product launches have been pushed back until crypto market conditions have stabilized. Read the full story.

Other highlights worth mentioning

• FTX ex-director Nishad Singh pleads guilty to fraud charges - Decrypt
• Russian bank issues first on-chain bank guarantee in Chinese yuan - Cointelegraph