Welcome to this week's crypto news summary. All the important news and events in the crypto world from last week (Jan. 23 to Jan. 27) are summarised below, so you'll be completely up to date again before you head into the weekend.

Do you want to know what news there was in the crypto world this week? Then read along quickly!

Bitcoin price has risen to the highest price in more than five months

The price of Bitcoin (BTC) has increased to its highest point in five months at $23,500. This was already five months ago. On Jan. 25, Bitcoin dropped back to $22,300 for a second time but then began to recover from the dip slowly and then hit a peak of $22,300 by midnight.

ssv.network launches $50 million fund for ETH decentralisation

The ssv.network DAO is launching an "Ecosystem fund" worth $50 million. This ecosystem will support the development of Distributed Validator Technology (DVT) based applications. This is used to usher in the next wave of Ethereum (ETH) staking technologies. Several staking companies and venture capitalists from the crypto world have joined forces to bring the next generation of staking solutions. This collaboration promotes the decentralisation of Ethereum through the use of DVT.

Cardano stablecoin Djed is to be launched next week

About two months ago, Cardano announced that the algorithmic stablecoin Djed would be launched in January 2023. Since then, information has come out from the official publisher of this new stablecoin, Coti, that Djed will be launched next week. Also read our Top 5 Stablecoins.

Arizona Senator proposes law change to make Bitcoin a legal payment method

Political interest in crypto is also growing. Arizona state senator Wendy Rogers has proposed several law changes related to Bitcoin (BTC). The first change seeks to recognise bitcoin as a legal payment method. The second proposal aims to use Bitcoin in payments to government agencies. This could include paying debts, taxes and other financial bonds.

Whether this law changes will pass remains to be seen. But it certainly shows a clear sign about the political interest in Bitcoin turning. The remarkable thing about this proposal is the explicit interest in Bitcoin as a legal payment method. Other forms of cryptocurrency do not appear in the proposal.