Here's what happened in crypto today
Today in crypto, Pakistan has tapped former Binance CEO Changpeng "CZ" Zhao as an adviser to its national crypto council; an Ethereum whale moved to deposit $14 million in ETH to prevent liquidation on a $340 million short position; and Bitcoin's hashrate has officially surpassed 1 zetahash per second, marking a major milestone for the network.
Pakistan appoints Changpeng Zhao as crypto adviser as adoption heats up
Former Binance CEO Changpeng "CZ" Zhao has been appointed as an adviser to Pakistan's Crypto Council, a newly formed regulatory body tasked with overseeing the country's embrace of blockchain technology and digital assets.
The appointment was confirmed by Pakistan's finance ministry and reported by Bloomberg on April 7. Zhao will advise the regulatory body on cryptocurrency regulation, infrastructure and adoption, Bloomberg reported.
In March, the CEO of Pakistan's Crypto Council, Bilal bin Saqib, told Bloomberg that the country plans to develop a clear regulatory framework for digital assets.
"Pakistan is done sitting on the sidelines," Saqib said. "We want to attract international investment because Pakistan is a low-cost high-growth market with [...] a
Web3 native workforce ready to build."
Ministry Or FIBabee
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Whale makes $14 million Ether emergency deposit to avoid $340 million liquidation
An unidentified cryptocurrency whale injected millions of dollars in emergency capital to avoid a potential liquidation of more than $300 million in Ether as markets slumped amid renewed macroeconomic pressure.
The whale is reportedly close to liquidation on a 220,000 Ether (ETH) position on MakerDAO, a decentralized finance (DeFi) lending platform. To stave off liquidation, the investor deposited 10,000 ΕΤΗ worth more than $14.5 million and 3.54 million Dai (DAI) to raise the position's liquidation price, blockchain analytics firm Lookonchain said in an April 7 post on X.
"If $ETH drops to $1,119.3, the 220,000 $ETH($340M) will be liquidated."
ETH-C Voult 31214
$1,119.30