PeckShield says $15M lost on Crypto.com, Tesla accepts doge

After a rough start to the year, the price of bitcoin is about flat in the last seven days. The largest cryptocurrency by market value is currently trading at $41,671, according to Coin Metrics.

Ether, the second-largest, is up about 2% in the same time frame. It’s now priced at $3,113.

Other top coins had a better week. Cardano, Terra and Dogecoin, for example, jumped over the last seven days, Coin Gecko data shows.

Along with price movement, here are six important things that happened in the crypto space last week.

In June, Kim Kardashian posted an Instagram Story promoting a cryptocurrency called EthereumMax.

“Are you guys into crypto???” she wrote. “This is not financial advice but sharing what my friends told me about the Ethereum Max token!” Kardashian included the hashtag “#ad,” which indicates that the post was paid for as promotional content.

A class action lawsuit in the U.S. District Court for the Central District of California was then filed on January 7, accusing Kardashian and other celebrities, like Floyd Mayweather, of “making false or misleading statements” about EthereumMax to allegedly increase its price.

Ryan Huegerich, a New York resident, filed on behalf of himself and other investors who bought EthereumMax between May 14, 2021 and June 17, 2021. The lawsuit claims Huegerich and others lost money on their investments.

Representatives for Kardashian and Mayweather were not immediately available for comment when contacted by CNBC. A spokesperson for EthereumMax told CNBC that the lawsuit was “riddled with misinformation” and disputed accusations that it was a scam.

“The Bitcoin Legal Defense Fund is a non-profit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects,” Dorsey wrote in an email.

The fund will defend bitcoin developers from lawsuits, “including finding and retaining defense counsel, developing litigation strategy and…