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The cryptocurrency community is in a tizzy after a project on the ZkSync network, Gemholic, is suspected of a rug pull – a scheme where developers abandon a project after raising funds from investors.

The cryptocurrency market experienced a wave of volatility this week, with prices for leading digital assets like Bitcoin and Ethereum taking a tumble. This turbulence coincides with two seemingly unrelated events: the wild swings in GameStop's stock price and the release of a robust US jobs report. Analysts suggest a potential connection between these events.

A recent development in the cryptocurrency world has sparked speculation that China might be reconsidering its strict stance on cryptocurrencies. The rumors began when Bybit, a prominent offshore cryptocurrency exchange, unexpectedly opened registrations and authentication for users in China. This move is noteworthy because Bybit had previously banned Chinese users from accessing its platform due to the country's crypto restrictions.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has seen a slight decline recently, aligning with the broader crypto market's downward trend. However, a well-known crypto analyst, Mags, anticipates a bullish 13% rally for Ethereum in the near future.

The meme coin craze, which has resurged in recent weeks, experienced a significant downturn after a live stream by Keith Gill, also known as "Roaring Kitty." Gill, famous for his role in the 2021 GameStop short squeeze, hosted his first live stream in three years, attracting over 600,000 viewers eager for his insights.

In a significant victory for the cryptocurrency community, Norwegian authorities have successfully recovered and returned a portion of the funds stolen in the infamous Ronin Bridge hack. The hack, which occurred in March 2022, resulted in the theft of over $600 million worth of cryptocurrency, making it the largest decentralized finance (DeFi) hack in history.