📉 Crypto Week in Review: BIS Tests Tokenization, Nexo Sues Bulgaria, Coinbase Downgraded

Top Stories:

1. The Bank for International Settlements (BIS) announced the second phase of testing for central bank digital currencies (CBDCs) and tokenization. The projects cover cybersecurity, financial crime, and green finance.

2. Crypto lending platform Nexo filed a $3 billion lawsuit against the Bulgarian government over botched investigations. Bulgarian prosecutors closed the case in December 2023.

3. JPMorgan analysts downgraded cryptocurrency exchange Coinbase to 'underweight' due to the decline in the price of Bitcoin and exchange-traded fund (ETF) shares.

4. Telecom giant Telefónica is partnering with Helium Network creator Nova Labs to bring blockchain technology to Mexico's mobile infrastructure.

5. Shares of crypto miner Core Scientific plunged 30% after emerging from bankruptcy and returning to the Nasdaq.