<p>Over the last week, Polkadot (DOT) has had trouble gaining traction, falling by 8.41% from April 30 to May 4. However, the price is trading sideways and there might be a modest recovery next week as investors take advantage of this dip to acquire more DOT.</p> <p>According to <a href= "https://coinmarketcap.com/currencies/polkadot-new/" rel= "nofollow">CoinMarketCap</a>, Polkadot ranks #11 among all cryptocurrencies with a current market price of $5.75. Polkadots 24-hour trading volume is up by 29.40% in 24 hours, while its market cap has also gained 1.57% within the same time frame.</p> <p>Polkadots (DOT) <a href= "https://cfgi.io/polkadot-fear-greed-index/" rel="nofollow">Fear & Greed Index today is 46. This level indicates that bulls are pushing the price up gradually, but the bears are still in their positions. </p> <p>Over the last few days, Polkadot (DOT) has been showing some bullish signs; so expect a possible recovery within the next few weeks as investors take advantage of the current momentum.</p> <h2>DOT Price Analysis</h2> <p>Polkadot trades between the 200-day simple moving average and the 50-day simple moving average (SMA). This indicates that the market is in a neutral or consolidation phase.</p> <p>The price does not trend significantly in either direction. During this phase, traders and investors may use the 50-day and 200-day SMAs as support and resistance levels while trading.</p> <p>Related Reading: <a href= "https://www.newsbtc.com/analysis/pepe/pepe-coin-versus-bitcoin-comparison/"> Check Out This Shocking Pepe Coin Versus Bitcoin Comparison</a></p> <p>However, if the price exceeds the 50-day SMA, it could indicate a short-term uptrend, giving investors a buying opportunity.</p> <p>The Relative Strength Index (RSI) level of DOT is 41, indicating that its market is heading towards the neutral zone and theres indecision among investors.</p> <p>But the 24-hour volume indicator shows that the trading activity is gradually growing, which could mean investors are building interest in the coin. This may increase liquidity and potential price movement in favor of DOT.</p> <p><img alt="DOT" class="alignnone wp-image-529930 size-large" height="333" src= "https://www.newsbtc.com/wp-content/uploads/2023/05/ads-860x333.gif" width="860"></p> <p>The chart above shows the key support and resistance levels of Polkadot (DOT). Polkadot now trades between $5.587 and $6.07 primary support and resistance levels. DOTs first important resistance level is $6.07. If the price...</p>

(Elena Mozhvilo/Unsplash)

Securitize CEO Carlos Domingo (Securitize)

(Ian Suarez/CoinDesk)

Stronghold Digital Mining CEO Greg Beard (right) and co-Chairman Bill Spence. (Stronghold Digital Mining)

Quantum computing could revolutionize finance by solving complex problems quickly, improving risk management and enhancing cybersecurity measures.

Vince Yang (ZkLink)

Crypto regulation remains controversial, with different governments taking different approaches, but growing adoption will likely lead to more clarity.

(Pixabay)

(Mufid Majnun/Unsplash)

(Shutterstock)

(Shutterstock)

(MoMo Productions/Getty Images)

A new tweet by Coinbase Chief Legal Officer (CLO) Paul Grewal has sparked interest and speculations in the crypto community. The CLO expressed his appreciation to Ripples General Counsel, Stuart Alderoty, for their meeting, stating they needed to meet more often.

In response, Stuart Alderoty thanked him for chatting with their legal team. After the tweet, two top lawyers in the community supported the strategic meeting, and some others called on Coinbase to relist XRP on its marketplace. 

Ripple And Coinbase OfficlainsLeading The Battle, Deaton

One of the notable reactions to the meeting between Ripple and Coinbase CLOs came from CryptoLaw founder John Deaton. 

Deaton is the attorney representing thousands of XRP holders. His response to the tweet was that the picture shows two valiant General Counsels leading the front line in battle. Further, Deaton wrote that he tipped his cap to Alderoty and Grewal to express his respect. 

By saying frontline in battle, Attorney Deaton reiterates his position that the crypto industry is battling with the US Securities and Exchange Commission. Notably, the attorney shared a tweet to that effect in March, calling every stakeholder in the industry to meet and share strategic ideas to win the war. 

Following the recent tweet, the two firms battling SECs lawsuit may have listened to Deatons suggestion. 

Another prominent figure that responded to the recent development was the Australian-based lawyer Bill Morgan. The lawyer stated that teamwork against a common foe is the best strategy to win. 

However, Morgan further said he doesnt regard Coinbase as a friend of XRP holders as it ceased secondary market trading in its exchange. 

Crypto Users Call For XRP Relisting

Other responses following the recent tweet were calls for Coinbase to relist XRP. A Twitter user going by Jon Mann, who responded, asked Coinbase to relist XRP, stating that the meeting is the tag team the Ripple community has been waiting to see.

(Unsplash)

(Pixabay)

(MoMo Productions/Getty Images)

(Hazard/Rook)

Kolin Burges confronts Mt. Gox CEO Mark Karpeles (CoinDesk)

Anatoly Yakovenko (Danny Nelson/CoinDesk)

Bitcoin's dominance rate vs the SPDR S&P regional banking ETF (TradingView/CoinDesk)

The Avalanche booth at HBC 2022 (Danny Nelson/CoinDesk)

(Emmanuel Ikwuegbu/Unsplash)

Regulators say Elon Musk's image was used to promote a scam. (Daniel Oberhaus/Flickr)

(Getty Images)

(Creative Commons, modified by CoinDesk)

(Ryan Quintal/Unsplash, Modified by CoinDesk)

Coinbase CEO Brian Armstrong (CoinDesk)

(IPTC/Getty Images)

SEC Chair Gary Gensler (Kevin Dietsch/Getty Images)

Nerves become apparent across risk assets as U.S. regional banks add to already significant losses.

Cardano (ADA) is trading below yesterdays closing price as it exhibits price volatility. This price drop comes despite the fact that its trading volume increased by over 26% in the last 24 hours. 

ADA has now lost its earlier gains in the past week, dropping from $0.4028 on April 29, 2023, to $0.3974 on April 30. Currently, it is trading in the $0.3926 range. Its past price behavior suggests it will likely recover from the bearish trend.

Fortunately, Cardano retains most of its gains in 2023, moving from $0.248 on January 1, 2023, to its current price of $0.3922 at press time.

ADA Price Analysis

ADA is experiencing price volatility today, forming a red candle on the daily chart. The Relative Strength Index is at 47.41 and reflects price neutrality as the bulls and bears battle for control. 

Related Reading: Check Out This Shocking Pepe Coin Versus Bitcoin Comparison

Also, ADAs Moving Average Convergence/Divergence (MACD) is below its signal line and shows a negative value. The MACD indicator hints at a possible price drop ahead for the asset since the bears are still active in the market. 

However, ADA is still above its 50-day and 200-day Simple Moving Averages (SMA), a bullish sentiment for the short and long term. The 50-day SMA has correlated with a support level sustaining ADA for the last three days.

Cardanos Developmental Strides Might Facilitate A Rally

Cardanos reputation as a developers hub is rising, with an active community backing the project. Cardano in the Community Digest announced the upcoming Cardano summit in 2023. 

The event will hold in Dubai between November 2 and 4, 2023. It will provide networking opportunities in the community and access to top crypto executives that will speak at the event.

Although Cardano is in a bearish phase, its...

The Nigerian government has just approved a blockchain policy that will facilitate the development of a regulatory framework for the technology. The approval occurred in a May 3 Federal Executive Council meeting. 

Blockchain Adoption Could Impact The Economy Positively

Notably, the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim, had presented a memo about the regulatory framework earlier. 

While announcing the approval, the FMCDE cited a PricewaterhouseCoopers (PwC) report predicting the increasing blockchain adoption and how it will boost the global gross domestic product by 2030. It noted that the global GDP could gain an additional $1.76 trillion from various industries representing about 1.4% of the worlds GDP.

In October 2020, the country released a draft of the blockchain adoption strategy. The document mentioned decentralized ledger and blockchain technology would support the growth of the Nigerian digital economy.

The FMCDE developed the national policy by consulting stakeholders in the private and public sectors. The creation of the policy conforms to the seventh pillar of the national digital economy policy and strategy, with the major focus of the policy being on growing global innovative technologies and digital society. 

Importance Of The New National Policy

The main purpose of the new policy is to create a  blockchain-based economy suitable for digital activities in the country. It will ensure secure transactions, value exchange, and data sharing among individuals, companies, and the government. Also, the policy will impact the public and private sectors in the country positively.

Blockchain adoption strategy in Nigeria cuts across several pathways and initiatives. These include the establishment of a consortium for blockchain, fostering digital identity, and developing a national blockchain sandbox for piloting and testing.

Also, the strategy will involve the creation of blockchain business incentive programs, advancing digital awareness and literacy of blockchain technology, and building a robust regulatory and legal framework....

(Shutterstock)

Before reaching out to a potential banking partner, its wise to know both what they can offer and what theyll expect.

Bitcoin has surged above the $29,000 mark following the Fed rate hike of 25 bps, a sign that the asset may be decoupling from the stocks.

Bitcoin Has Jumped Despite Fed Interest Rate Hike Announcement

According to the on-chain analytics firm Santiment, the cryptocurrency market has shown some promising rise potential since the rate hike announcement has gone live.

In the past year, the US Federal Reserve System (Fed) interest rate hikes have generally been met with panic in the market, as coins like Bitcoin and Ethereum have suffered significant hits to their prices following them.

This has been because the sector has experienced a high correlation with the US stocks during this period, meaning that the prices of the assets in the two sectors have been moving in a similar fashion.

Recently, however, things have been changing for the better, as the cryptocurrency and stock markets have become increasingly separated. The initial reaction in the prices of assets like Bitcoin and Ethereum to the latest announcement has also been a positive indication of this.

Here is the comparison between BTC, ETH, and S&P 500 that Santiment posted one hour after the FOMC meeting:

As displayed in the above graph, S&P 500 fell shortly after the rate hike, while BTC and ETH remained steady, showing the disconnection between the two sectors.

Both Bitcoin and Ethereum have risen in the hours since then, breaking the $29,000 and $1,900 levels, respectively. This could be a sign that investors are at ease now that the meeting is behind them.

At least for now, it seems that the initial reaction to this interest rate hike was: At least its over with now. Crypto no longer needs to worry about fiscal policy until June, notes Santiment.

On-chain data also shows that the trading volumes of the top cryptocurrencies by market cap have trended up since the meeting, an indication that activity has been increasing in the sector.

Another indicator, the active addresses, which measures the daily total number of unique addresses that are taking part in some transaction activity on...

chatbots can offer a convenient and accessible way for individuals to manage their personal finances, fraud prevention and more.

Coinbase CEO Brian Armstrong (Coinbase)

Bitcoin 2023 will host Robert F. Kennedy Jr., who recently defended Bitcoin mining after the Biden Administration proposed a 30% tax on its energy usage.

Disclaimer: BTC Inc. owns both The Bitcoin Conference and Bitcoin Magazine.

Robert F. Kennedy Jr. is set to make his first appearance as a U.S. Presidential candidate at the Bitcoin 2023 conference in Miami, happening May 18-20. In a recent statement, Kennedy expressed his support for Bitcoin and denounced President Biden's proposed 30% tax on cryptocurrency mining, stating that it is a mistake for the U.S. government to stifle innovation in the industry.

Kennedy also addressed concerns over the environmental impact of Bitcoin mining, stating that the energy usage argument is overstated and that Bitcoin mining consumes about the same amount of energy as video games. He believes that the environmental argument is being used as a pretext to suppress anything that threatens elite power structures, including Bitcoin.

In addition, Kennedy has argued that tight control of cryptocurrencies to prevent their use by criminals is not the solution. He pointed out that dissidents and ordinary citizens also need privacy and that governments often control bank accounts and payment platforms to crush dissent. Kennedy believes that until trust is restored in government, cash and bitcoin are needed to ensure freedom.

Kennedy also spoke about the importance of having a diverse ecology of currencies, rather than just a single, centrally controlled one. He believes that just as a biodiverse ecosystem is more resilient, so too will our economy be more resilient with a diversity of currencies.

Previously, Kennedy had said that there "is a misunderstanding" from critics who claim Bitcoin's energy usage is a bad thing, and that Americans need Bitcoin "to ensure freedom."

Kennedy's support for Bitcoin and his appearance at the Bitcoin 2023 conference will likely garner attention from Bitcoin enthusiasts and the media alike. As a presidential candidate, his views on Bitcoin and its role in our economy will be closely watched in the c...

Palm Generative Art Maker (Palm NFT Studio)

The total crypto market cap has been ranging sideways, but Bitcoin derivatives markets indicate pro traders dont expect any major price corrections.

Shiba Inu (SHIB) has seen its burn rate skyrocket to impressive heights. This incredible surge in burn rate is causing many to speculate that a price reversal may be on the horizon, as the tokens value continues to experience significant volatility. 

As the burn rate of Shiba Inu continues to soar, the cryptocurrencys fate remains uncertain, leaving investors and enthusiasts alike wondering what the future holds for this meme-inspired token.   

Will Shiba Inu be able to maintain its momentum and reach new heights, or will the current volatility lead to a dramatic price u-turn?

Shiba Inu Burn Rate Climbs, Signaling Potential For Price Reversal

Shiba Inu, the popular cryptocurrency inspired by the Shiba Inu dog breed, has experienced an astonishing 30,940% surge in burn rate at the time of writing, according to Shibburns data at the time of writing.

But what exactly does burn rate mean in the context of cryptocurrencies?

In simple terms, the burn rate refers to the amount of tokens that are permanently removed from circulation. When a cryptocurrency burns tokens, they are essentially destroyed, which can have the effect of increasing the value of the remaining tokens. 

In the case of Shiba Inu, the massive surge in burn rate is an indication that more tokens are being removed from circulation than ever before, which could potentially lead to a supply shortage and a subsequent increase in value.

Based on the data presented, the Shiba Inu ecosystem is experiencing exponential growth in the number of total transactions, resulting in a significant transfer of 2,254,093,318 SHIB tokens to inactive or dead wallets overnight.

The sudden transfer of tokens to dead wallets is believed to be a response to the rapid surge in transaction activity within the ecosystem.

The data highlights two specific addresses that were responsible for a large portion of the transaction volume. One address was used to burn 2,005,265,274 SHIB tokens, effectively removing them from circulation permanently.

The other address burnt 246,743,138 SHIB tokens, contributing to the overall reduction in circulating supply.

Where Shiba Inu Stands Right Now

At the time of writing, the price of SHIB on CoinMarketCap stands at $0.00001005, with a 24-hour rally of 0.83%, while experiencing a decline of 2.37% over the last seven days.

Despite the massive surge in the burn rate of Shiba Inu tokens, the price of SHIB has shown little movement.

The My First Bitcoin education program reaches 1 BTC in donations, with Bitcoin Beach matching contributions, fueling expansion.

Bitcoin prices might be firmer when writing on May 4, rallying above $29,000 and breaking above local resistance levels in lower time frames. But the Mean Transaction Size, based on the 7-day moving average, is at a 3-year low, according to Glassnode, a blockchain analytics firm.

Bitcoins Mean Transaction Size Crashing

The Mean Transaction Size relays the average transaction size over a given period. It can be used as a lead to gauge the level of activity. Typically, the higher the demand for BTC, the better the prices.

Considering the decentralized nature of public networks, including Bitcoin, transactions are packed in blocks before being confirmed and added to the longest chain. 

The size of each Bitcoin block is fixed at 1 MB; therefore, the number of transactions that can be packed in a block directly depends on the size of each transaction. On average, BTC transactions can be between 300 and 400 bytes. Coupled with the set transaction processing time of roughly 10 minutes, transaction sizes, and by extension, the block size cap, directly impacts the networks throughput.

A notable observation is that the mean transaction size in Bitcoin has been rapidly falling over the past few weeks. There was a sharp expansion from late January 2023 when the mean transaction size rose from around 590 to 1,195 in mid-February.

It then see-sawed in the following weeks, falling from 1,192 in late March to 820 in early April. It crashed to 467.949 on May 2, the lowest in three years.

#Bitcoin $BTC Mean Transaction Size (7d MA) just reached a 3-year low of 467.949

Previous 3-year low of 468.425 was observed on 02 May 2023

View metric:https://t.co/PJ0bkLTuVs pic.twitter.com/WNZE2VmaOM

glassnode alerts (@glassnodealerts) May 4, 2023

Blame The Ordinals

Joe Lubin explains what really happened in 2014 when two co-founders were pushed out and how Ethereum really is becoming the World Computer.

Despite negative sentiment toward crypto adoption in the United States, Consensus 2023 attracted thousands of attendees to discuss the potential of blockchain technology and cryptocurrency.

Dogecoin (DOGE) is now making serious waves in the investment world as the potential for its value to reach $0.50 in 2023 becomes a hot topic of discussion among crypto enthusiasts and investors alike. 

Despite its humble beginnings, Dogecoins popularity continues to soar, and its recent performance has caught the attention of many who are eagerly watching to see if this cryptocurrency can continue its meteoric rise.

Lets delve into the realm of Dogecoin and examine the route it would take to attain this significant achievement.

From Internet Meme To Investment Sensation

Dogecoin started off as a joke in 2013. But little did anyone know that it would become a phenomenon in the world of cryptocurrencies. Created by two software engineers, Billy Markus and Jackson Palmer, the coins logo was inspired by the popular internet meme of a Shiba Inu dog.

Initially, Dogecoin was nothing more than a fun project for Markus and Palmer, but the coins popularity skyrocketed when Tesla, SpaceX, and now Twitter CEO Elon Musk tweeted about it in 2020. Musks tweet sent Dogecoins value soaring, and it has since become one of the most talked-about cryptocurrencies in the market.

In fact, Musk has been a significant factor in the rise of Dogecoins value. His tweets about the coin have caused significant fluctuations in its value, and he even referred to himself as the Dogefather during his appearance on Saturday Night Live.

Despite its origins as a joke, Dogecoin has become a legitimate investment option for many people.

Is The Moon Within Reach For Dogecoin In 2023?

As we look ahead to the future of Dogecoin, many are wondering if the cryptocurrency will reach the much-hyped milestone of half a dollar in 2023. While its impossible to predict the future of any investment, Dogecoin has already defied expectations and become a legitimate player in the world of cryptocurrencies.

Dogecoins value continues to hold steady, with the cryptocurrency trading at $0.07941 according to CoinMarketCap. Despite a small 1.13% rally in the past 24 hours, Dogecoin has seen a slight 0.48% dip over the past seven days.

After reaching an unprecedented peak of...

In an exclusive interview with Cointelegraph, Alluvial chief product officer Matt Leisinger discusses the impact of liquid staking on the crypto ecosystem.

The incredible price rally of the meme coin PEPE continues. According to Coingecko data, the frog token has risen to become the third most popular meme coin, behind Dogecoin (DOGE) and Shiba Inu (SHIB), with a market cap now at $688.5 million, leaving FLOKI behind. In the ranking of all cryptocurrencies, PEPE is now ranked #73, while FLOKI is ranked #123 ($332.5 million market cap).

Remarkably, PEPE initially retreated to $0.0000008383 yesterday, but since then the price has skyrocketed more than 112% at times, hitting a new all-time high at $0.000001794. The brutal price move is likely due to a short squeeze, as tweeted by the data tracking platform Laevitas.

Pepe shorts adding more fuel to the fire. pic.twitter.com/mdcS1n60iQ

Laevitas (@laevitas1) May 4, 2023

Funding rates are a measure of the payments that futures traders have to make to keep their positions open. If the funding rate is negative, it means that traders with short positions are required to pay the funding rate to traders with long positions. The opposite is true for positive funding rates.

PEPEs funding rates were extremely negative before the short squeeze. This means that short positions were dominant, which showed the dominance of bearish positions in the derivatives market. Meanwhile, the spot market was strong.

Often, however, the market tends to do the unexpected. When the overwhelming majority is bearish, it is easy to wipe out liquidity, especially for larger players or market makers. This is especially valid for smaller coins with low liquidity and a comparably small user base. PEPE still only has 80,000 total addresses.

Trader @htltimor added that some shorts are being chased like theres no tomorrow. Its fun (and was extremely predictable), says the trader, who shared the chart below and shared another piece of advice:

You can *sometimes* try the stochastic < 20 on new coins in a lower TF (i.e. 1h) and if it coincides with RSI oversold and logical levels and patterns and volume profile, you can take a punt. Did not do that myself, as I dont trade meme coins.

Bitcoin adoption is inevitable in the long run, but putting political division aside and building a broad coalition will shorten that path.

This is an opinion editorial by Jason Maier, a teacher and author of A Progressives Case For Bitcoin. Disclaimer: This book was published by Bitcoin Magazine.

Does Bitcoin need progressives?

The simple answer to this question is no, Bitcoin doesnt need progressives. We can all quote the memes by heart: Bitcoin doesnt care. Tick tock, next block. Bitcoin is inevitable. Bitcoin cant be regulated. I believe each of these mottos are true, in their own ways, in the long term. But recently, I have devoted a lot of energy to answering the converse of this question, namely: Do progressives need Bitcoin?

My book answers this more intricate question thoroughly in the affirmative. And while its easy to conclude, with confidence, that Bitcoin doesnt need progressives, it might be interesting to consider why you should care at all that Im on a mission to orange pill as many progressive liberals as I can. Its true that Bitcoin doesnt care. But I think you should.

Shortening The Long Run

As clear as it is to me that Bitcoin will ultimately succeed, it is also clear that the support of liberals and those on the left of the political spectrum, while not an absolute necessity, is important nonetheless. Even if Bitcoin is inevitable in the long run, there is an awful lot of time between now and the end of that long run. That time can be filled with growing adoption, innovation and promoting freedom money across the planet. Or that time can be filled with political fighting at every level of every government across the globe. Plenty of people reading this may not care, or they may even welcome the fighting. But in the long run, Ill be dead and the world would be a better place if more people understood and used Satoshi Nakamotos innovation before my stack of corn gets passed along to my children.

There are Bitcoiners who do not align with me politically, but nonetheless support my work. These folks like to remind me that Bitcoin is money for enemies. This is not only true, but actually an important property of all good money. Furthermore, it is also critical to remember that, in this narrow sense, no Bitcoiner is your enemy, regardless of how they align themselves within the lega...

The U.K. Competition and Markets Authority said it would examine AIs development, deployment and social impact.

Within two days, the tokens price plummeted from an all-time high of $0.00067279 to an all-time low of $0.00004827.

Coinbases legal battle for regulatory clarity over the trading of digital crypto assets saw a development as a U.S. court responded to its complaint against the SEC.

Blockchain4Youth will provide courses through Bitget Academy and host university lectures on the topic of Web3.

The Bitcoin and crypto markets are up today, despite the fact that the initial reaction to yesterdays FOMC of the US Federal Reserve (Fed) was rather bearish. During the meeting, the Bitcoin price dropped from $28,800 to $28,250 as the market reacted to the extremely hawkish comments made by Jerome Powell.

The Fed Chairman avoided confirming that yesterdays rate hike was the last one in this cycle, despite multiple requests from journalists. He also stressed that there is no room for rate cuts this year in the Feds current scenarios. On the other hand, in its rate hike statement, the Fed omitted the earlier remarks that announced further hikes.

Bullish https://t.co/k4DiOUwl2T

Jake Simmons (@realJakeSimmons) May 3, 2023

Why Is Bitcoin And Crypto Up Today?

The fact that Bitcoin and the broader crypto market are rising today is likely due to the fact that despite all of Powells efforts, the market is expecting a pivot, that is, a pause in rate hikes at the next FOMC meeting on June 14.

The reason: In March, the majority of FOMC participants said that the final rate for this tightening cycle would be between 5% and 5.25%, which is exactly where the fed funds rate arrived yesterday. The CMEs FedWatch tool shows that an overwhelming 99.2% currently expect a pause in June.

More than 85% expect the first rate cut as early as September. In total, the market currently expects at least three rate cuts (to 4.25 to 4.5 basis points) by year-end.

And even JP Morgans Davis believes that this is definitely the end of the hiking cycle for the Fed. The representative of the largest U.S. bank by deposits also believes a Fed rate cut could come as early as September.

The projections are extremely bullish for Bitcoin and crypto, as risk assets traditionally benefit the most from a dovish monetary policy as more liquidity is pumped into the financial system. On the other hand, Bitcoin investors may have once again reacted to the deepening banking crisis in the US.

As with the collapse of Silicon Valley Bank and First Republic Bank, BTC saw a spike yesterday as Los Angeles-based PacWest (PACW) crashed by around 60% in after-hours trading. The regional bank is rumored to be lookin...

Nigerias Federal Executive Council has approved the national policy on blockchain to help the country develop a regulatory framework to govern the adoption of the technology.

Bitcoin is back above $29,000 as the ongoing U.S. banking crisis sends spot gold higher than ever.

A May 3 filing to the United States Bankruptcy Court brings new objections to a motion that aimed to redact customer identities.

After three months of consecutive growth, centralized exchange trading volumes fell to their lowest this year in April.

PacWest Bancorp was the hardest hit bank after-hours on May 3, falling over 50% following a reported plan to explore strategic options.

The service allowed users to borrow up to $1 million with no credit check, provided they posted Bitcoin as collateral.

Decentralized finance protocol CurveDAO has successfully launched its algorithmic stablecoin crvUSD on the Ethereum network.

The SEC and its staff are continuing to consider the term digital assets despite proposing a definition of them around nine months ago.

Security researchers at Meta said that bad actors have flocked to generative AI because its the latest tech to capture peoples imagination and excitement.

A whopping 35.8% of the worlds largest crypto projects havent uploaded a single blog post in 2023, according to blockchain marketing agency Guerilla Buzz.

The bankrupt crypto exchange wants to recoup billions from the bankrupt crypto lender claiming it was instrumental to FTXs fraudulent business model.

Prosecutors claimed Nathaniel Chastain profited from inside information about which NFTs would be featured on the marketplace.

(eswaran arulkumar/Unsplash)

(Danny Nelson/CoinDesk)

<p class="subtitle">The mining operations will be carbon-free according to the firms and the first expansion by Bitdeer into Asia.</p> <figure><a href="https://bm.b.tc/bitcoin2023-conf-tickets" rel= "nofollow"><img height="88" src= "https://bitcoinmagazine.com/.image/c_fit%2Ccs_srgb%2Cq_auto:good%2Cw_620/MTk2NDE0NDk3MjI3ODEwMjkw/bitcoin-2023-website-article-banner.png" width="620"></a></figure> <p>Bitdeer Technologies Group and Druk Holding & Investments have partnered to develop a 100% carbon-free digital asset mining operation in the Kingdom of Bhutan. According to a press release sent to Bitcoin Magazine, the partnership aims to help accelerate Bhutan's digital transformation and economic diversification, while expanding Bitdeer's global footprint. The two firms will establish a closed-end fund worth up to $500 million, which will launch in May 2023. Bitdeer will serve as the general partner, while DHI will act as a strategic limited partner.

The Partnership is expected to create local jobs in areas ranging from engineering to project management, supervisory and supportive functions, the press release said. At the same time, the Partnership is expected to generate economic activity and foreign-currency-denominated revenue for local communities and the country.</p> <p>Bitdeer's Chairman, Jihan Wu, said, "We are excited to be working alongside DHI in accessing Bhutan's zero-emissions power to sustainably enable the blockchain technologies that will eventually form an immutable bedrock for a global store of value."<br> <br> We are thrilled to partner with Bitdeer on this important development for DHI. Ujjwal Deep Dahal, CEO of Druk Holding and Investments, commented. "DHI exists for the betterment of the lives of Bhutanese people today and for generations to follow."</p> <p>Bitdeer currently operates data centers in Northern Europe and North America. As the press release notes, the upcoming carbon-free bitcoin mining operation in Bhutan will mark a crucial expansion into Asia for Bitdeer, which will enable Bitdeer to tap into Asia's abundant resources, contributing to the flourishing regional ecosystem.</p>

(Opensea, modified by CoinDesk)

(Getty Images)

The CEO of Google DeepMind says human-level AI could emerge before 2033 an event that could radically alter how crypto trading bots and GPT-based tech functions.

Jerome Powell (Drew Angerer/Getty Images)

According to the cease and desist order, investors are being given the impression that Elon Musk endorses "TruthGPT Coin."

The Massachusetts Secretary of the Commonwealth's office filed a complaint against Robinhood in December 2020 alleging the platform was in violation of the states fiduciary duty standards.

(Piggybank/Unsplash)

Robert F. Kennedy Jr. announces his candidacy in Boston on April 19. (Scott Eisen/Getty Images)

Sui Network (explorer.sui.io)

(Danny Nelson/CoinDesk)

Federal Reserve Board Building (AgnosticPreachersKid/Wikimedia)

(Bryan Turner/Unsplash)

U.S. Federal Reserve Chair Jerome Powell (Federal Reserve via Wikimedia Commons)

Credibly Neutral founders Viktor Bunin and Lisa Cuesta Bunin (Credibly Neutral)

(Robert Daly/Getty Images)

SUI surged 1,000% after its trading open on Binance. (Binance)

UK Parliament Building and Big Ben, London (Ugur Akdemir/Unsplash)

After a public hearing, Buncombe County voted to approve a moratorium on bitcoin mining in order to craft zoning standards and regulations for special land use.

As first covered in Bitcoin Magazine on April 6, Buncombe County, North Carolina proposed a one-year moratorium on bitcoin mining and held a public hearing on May 2.

The text of the proposal stated that the moratorium, if approved, would go into effect the same day as the hearing, so it was readily apparent that the County Commission was simply following procedure when taking comments from the public.

Unlike other moratoriums in the state where no objections were voiced, people throughout the region spoke out in opposition. State associations and local Bitcoiners came together in a collaborative effort to speak to various concerns about the one-year ban on commercial bitcoin mines. 

Comments in support of Bitcoin ranged from safeguarding financial freedom, strengthening the grid through demand response programs, investment and use of sustainable energy, protecting first amendment rights, encouraging innovation and more.

There were three people in attendance that expressed their approval of the ban, citing concerns about noise and a desire to conserve energy usage in order to meet Governor Roy Coopers climate goals.

The moratorium passed unanimously.

From the Buncombe County website:

The Buncombe County Board of Commissioners is moving forward with a moratorium on cryptocurrency mining. Commissioners approved the one-year ban after holding a public hearing during their meeting on May 2. The Countys current ordinances do not define cryptocurrency mining as a specific use. Cryptocurrency mining operations can negatively affect surrounding neighborhoods due to excessive energy use, e-waste, pollution, and noise. The temporary pause will help protect the public interest until regulations regarding cryptocurrency mining are adopted. The one-year ban is effective immediately through May 1, 2024.

The company, now having raised $21.21 million, system later in May.

Fedi, Inc., a U.S.-based developer of community-empowering financial and data technology utilizing Fedimints on Bitcoin, has raised $17 million in a Series A round of financing. 

The financing round was led by Ego Death Capital, with participation from Block, Kingsway, Trammell Venture Partners and Timechain, among others. This funding brings Fedi's total funding to $21.21 million. Fedi CEO Obi Nwosu said that the interest in the round allowed them to select investors that are fully aligned with the future they are trying to create with Fedi.

Fedi's community or "second-party" custody model offers a secure alternative to third-party cryptocurrency exchanges, cloud backup services and encrypted messaging apps. The system's underlying technology is readymade for rapid expansion and can be adapted to do virtually all the things people currently use their smartphone or computer to do. The system aims to answer the security, privacy and trust deficiencies of current alternatives, bringing users benefits similar to self-custody without technical or financial barriers to entry.

Fedi is offering a truly decentralized and federated way not only to custody bitcoin but to take back control of everything that matters in your digital life, said Jeff Booth, co-founder of Ego Death Capital and lead investor for this series. Its hard to overstate what this combination of technologies makes possible, and while I expect Fedi to be at the forefront, Im just as excited by what people are going to build around it. It is truly something that can bring value and a brighter future for billions of people, he added.

The Digital Asset Mining Energy excise tax would harm businesses and push innovation out of the United States.

The President's new budget proposal for Fiscal Year 2024 includes the Digital Asset Mining Energy (DAME) excise tax, which would require bitcoin mining firms to pay 30% of the cost of electricity used for mining crypto assets. This tax aims to address what the White House claims are the economic and environmental costs of mining, citing local pollution, increased greenhouse gas emissions and higher energy prices.

Unfortunately, the proposal does not take into account the large mix of renewable energy sources being used to power bitcoin mining, which Bitcoin Mining Council research shows continues to grow, making up more than half of the energy utilized by miners. In addition, it does not consider the grid-strengthening benefits that Bitcoin mining can offer, which has been seen in states like Texas.

The recent announcement of the DAME tax is yet another example of government overreach and intervention in the private sector. The proposal is just another tax grab by the government, disguised as an effort to address environmental concerns.

While it is true that mining consumes energy, it is not the responsibility of the government to dictate how businesses operate or what is a good and bad use of energy. The government should not be punishing businesses for pursuing innovation and technological advancement. The DAME tax is nothing more than a blatant attempt to stifle innovation in the Bitcoin industry and limit the potential for economic growth.

Furthermore, the government's claim that Bitcoin mining imposes costs on others is unfounded. Bitcoin mining firms already pay for the electricity they use, and any negative externalities are mitigated by the fact that they often locate in areas with excess or renewable energy. The argument that mining firms impose costs on low-income neighborhoods and communities of color is simply fearmongering and lacks any empirical evidence.

In fact, the DAME tax could have negative consequences for these same communities. The tax could cause firms to move their operations overseas, resulting in job losses and decreased economic activi...

Pepe the Frog meme (Pepecoin's Twitter account)

U.S. Capitol building in Washington, D.C. (Andy Feliciotti/Unsplash)

(Ivan Bajic/GettyImages)

(MF3d/GettyImages)

MoonPay is now offering its multi-wallet management solution via the app store in countries across the globe.

MoonPay, a cryptocurrency infrastructure company, has launched its app in over 130 countries, offering more than 5 million claimed users a streamlined multi-wallet management solution. The app, which had a soft launch in March to 15,000 early access users, is now available to MoonPay users on the Apple App Store and Google Play Store.

The all-in-one platform offers an easier way for Bitcoin holders to see their transactions, pricing history and top-up on the go, leading to a more informed and active community," said Ivan Soto-Wright, CEO and co-founder of MoonPay.

According to MoonPay, 55% of app users have successfully transacted with three or more wallets, while 25% have transacted with eight or more wallets, signifying the growing demand for a simplified multi-wallet management in-app experience.

"Our goal is to provide our millions of customers with a new way to engage with their cryptocurrencies and digital assets and provide the foundation for our leading brand partners and creators to continue their adoption," said Soto-Wright.

MoonPay previously partnered with BitPay to give BitPay users significantly increased ways to buy cryptocurrency instantly. Prior to that partnership, MoonPay joined forces with ZEBEDEE to offer the purchasing and selling of bitcoin for users of the ZEBEDEE platform. That partnership leveraged the Lightning Network in order to make transactions as seamless as possible.