<p>Ethereum developers have taken measures to address the finality issues that occurred on the Beacon chain in the past week. On May 11 and May 12, the Beacon chain, the consensus layer of the Ethereum network, was unable to reach finality on two occasions. The first occurrence lasted for 25 minutes, and the second for over an hour. </p> <p>Although the exact cause of such an incident is yet unknown, it is worth stating that this network glitch had no impact on on-chain activity and transactions were still processed. </p> <h2>Ethereum Developers Roll Out Network Patches To Tackle Finality Challenge </h2> <p>In response to the past week, Ethereum developers have released patches to provide a solution for network users.</p> <p>According to a <a href= "https://twitter.com/superphiz/status/1657303471098404866?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1657303471098404866%7Ctwgr%5E68366f75bd68b38616a3d08f4dc0ac6146fefb19%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.cryptopolitan.com%2Fethereum-developers-address-finality-issues-in-beacon-chain%2F" rel="noopener nofollow" target="_blank">tweet</a> by Beacom Chain community health analyst superphiz, Teku and Prysm, two of Ethereums constitutional clients, have implemented these fixes, which will help prevent further finality issues on the Beacon chain. </p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">We can start putting this loss of finality issue behind us, <a href= "https://twitter.com/Teku_ConsenSys?ref_src=twsrc%5Etfw" rel= "nofollow">@Teku_ConsenSys</a> and <a href= "https://twitter.com/prylabs?ref_src=twsrc%5Etfw" rel= "nofollow">@prylabs</a> have deployed fixes that will prevent the attestation flooding. This is one step on our diversity & decentralization journey, let's learn from it and move forward with greater purpose. pic.twitter.com/cSRgPTWeuy

superphiz.eth <img alt="" class="wp-smiley" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f987.png" style="height: 1em;"><img alt="" class="wp-smiley" src= "https://s.w.org/images/core/emoji/14.0.0/72x72/1f50a.png" style= "height: 1em;"><img alt="" class="wp-smiley" src= "https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e1.png" style= "height: 1em;"> (@superphiz) <a href= "https://twitter.com/superphiz/status/1657303471098404866?ref_src=twsrc%5Etfw" rel="nofollow">May 13, 2023</a></p> </blockquote> <p>Superphiz also shared a statement from the Ethereum Foundation in which they are speculating the cause of these exceptional scenarios to be the high load of some Consensus Layer clients. </p> <p>The Ethereum Foundation applauded client diversity which made it feasible for transactions to occur on the network, as not all client implementations were affected by the finality challenges.</p...

KAVA, the utility token of decentralized blockchain Kava, has been on a strong bullish trend in the last few days. The cryptocurrency maintained this momentum despite the bearish market sentiment in the past week, garnering an impressive 31% price gain.

To end what was a largely positive week, a proposal to initiate the first phase of Kava Horizon was submitted by the Layer-1 ecosystem.

KAVA Price Overview

Recently, the KAVA token has been on a positive price rally, gaining more than 30% of its value in the last seven days. For long-term investors, this may be seen as some form of recovery, as the coin had not been performing well until a week ago.

To put this into perspective, the token has only increased by 1.6% in the past month. In fact, up until the 8th of May, the price of KAVA was on a steady decline, losing nearly 29% of its value in three weeks.

That said, an upward price movement that started a week ago has seen the token climb up to its previous high of $0.96. As of this writing, KAVA is valued at $0.969, tallying a 4.7% increase in 24 hours. 

This latest price increase has been linked to the upcoming upgrade on the mainnet. Scheduled for 17th May, 2023 (15:00 UTC), the Kava 13 upgrade aims to bring architectural enhancements to the security, scalability, and functionality of the network. Consequently, this will help developers to scale and accelerate their protocols and improve user experience across the ecosystem.

Only 1 week until #KAVA 13 mainnet launch #EVM #Cosmos pic.twitter.com/eASPUSC5j9

Kava (@KAVA_CHAIN) May 10, 2023

According to CoinGecko data, KAVA has a market capitalization of $495.5 million, which places it as the 90th largest cryptocurrency in the market. It is, however, worth noting that the tokens daily trading volume has dipped by 51.7% to $21.9 million in the last 24 hours.

Kava Submits Proposal To Initiate Horizon

On May 13, 2023, Kava advanced its plans to implement the first...

While the global crypto market capitalization has plunged in the past week, with most coins trading in the red, Bitcoin SV (BSV) bucked the bears. BSV has scored 10% price gains on the weekly chart. The coin gained 2.47% on the last day, showing a 0.57% price increase in the previous hour. With todays performance, Bitcoin SV joined the list of top-performing coins over the past timeframe and might be nearing $40.

Bitcoin SV Back In The Spotlight

Bitcoin SV was created in 2018 due to a hard fork from Bitcoin Cash led by the controversial Craig Wright. The idea was to create a blockchain that could process transactions faster with a larger block size limit, a major bottleneck for Bitcoin Cash and Bitcoin. 

In addition, BSV has incorporated Ethereum-like capabilities such as native tokens, smart contracts, and other features to ensure interoperability within its blockchain. However, the token has failed to gain the sort of adoption it envisaged and hit an all-time low on May 8, bottoming at $29.17. But a series of events in the Bitcoin ecosystem has made the controversial token jump into the limelight. 

Related Reading: Coinbase Engages Legal And Political Aids In Battling SEC

Top among these is the congestion on the Bitcoin network caused by Ordinals NFT and BRC-20 tokens. Bitcoin SV supporters believe its high transaction throughput and low transaction fees make it a better blockchain than Bitcoin, and the numbers support it. Currently, the average transaction fee on BSV is about $0.035, while average Bitcoin fees have spiked to $31.50 as more users jump on the BRC-20 token trend. This has led to a debate in the Bitcoin community, with advocates for increasing the block size growing louder. 

This move has been rebuffed by core Bitcoin maximalists who believe that increasing this capacity would lead to greater centralization As fewer people can run a node that operates using higher bandwidth. This could be Bitcoin SVs gain as proponents believe it could provide an excellent alternative and fulfil llSatoshi Nakamotos dream of a peer-to-peer electronic money system as outlined in the original Bitcoin whitepaper. 

Related Reading: Ripple CTO Labels BEN Coin As Scam, Bitboy Reacts

Bitcoin SV Price Analysis 

At the time of writing, Bitcoin SV is trading at $35.98, and if the bullish momentum continues, BSV could target $40 in the coming days. However, before reaching the $40 target, Bitcoin SV bulls may encounter an intermediate hurdle in the $37-$39 range.  

The price of Bitcoin can fall to $15,000 in 2023 if its strengthening correlation with certain macro charts is any indication.

This is an opinion editorial by Tali Lindberg, co-founder of Free Market Kids, a company focused on financial literacy and Bitcoin education.

Authors note: This is a politically-incorrect article because Im about to make gross generalizations about men and women. If you are easily offended, you probably shouldnt read on.

When I first entered the Bitcoin space, I met a woman who asked me if I was interested in starting a womans Bitcoin meetup.

I wish there was one, she said.

At the time, I was a bit offended by the idea.

Bitcoin is already a small space, why would we want to separate men and women? I wondered.

Since then, Ive had a change of heart.

Having participated in many Bitcoin events in different cities and states, Ive noticed that women are always outnumbered by men by a lot! I would estimate that 80% to 90% of the people Ive met in the Bitcoin space are men.

This is a problem.

Women have the power to shape the future leaders of this world through their intimate bonds with their children. A baby who is born this year may enter adulthood in a world where fiat currency is a thing of the past, and bitcoin is the global, digital currency.

This timeline, however, will not be possible without having the buy-in of more women.

In this article, I will discuss what Ive observed and make some recommendations on how to effectively introduce Bitcoin to more women.

Facts Vs. Stories

If you asked my husband what he thought about the state of the economy, he would immediately spout out facts about how our market is not free and how the government picks winners and losers. He would go on about zombie companies, malinvestment, how much the Federal Reserve inflates the money supply and how the chairman manipulates the interest rate, etc.

If you asked me the same question, on the other hand, I would talk about some of our elderly neighbors, and go into great detail about a recent conversation I had with a retired grandmother: Standing in the hot sun next to squawking hens as they pecked loudly and aggressively at their food, we discussed the challenges of protecting our chickens from predators and growing a garden, even though neither of us was passionate about farming.

(I can feel some of you getting impatient with me as youre reading this. Get...

The largest crypto exchange in the US, Coinbase, has made a notable move regarding the allegation from the US Securities and Exchange Commission on securities law violation. 

Coinbase engaged a Global Advisory Council for the battle with the SEC. The council comprises heavy hitters from both the political and legal sectors.

Coinbase Gets Heavyweights In Its Council

The Coinbase crypto exchange announced the launch of a new Global Advisory Council, with some former US lawmakers as members. 

According to the announcement, the Council will offer insights and business strategies for the exchange.

The Advisory Council includes political heavyweights like former Congressman Tim Ryan (D-OH) and former Senator Patrick Toomey (R-PA). 

Also, the Council includes former Congressman Sean Patrick Maloney (D-NY), John Anzalone from Impact Research, and Chris Lehane from Haun Ventures.

The Council will work closely with Coinbase Asset Management Academic and Regulatory Advisory Council members.

Similarly, the Coinbase body comprises prominent personalities such as former SEC Chair Jay Clayton and former CIA General Counsel Courtney Elwood.

Others are the senior managing director at Compass Lexecon Jon Orszag and Kevin Hassett of the Hoover Institution.

Coinbase noted that creating the Advisory Council is a step in the right direction for the company. It would help the exchange to maintain a flawless operation process while rebuilding its strategies in the US and globally. 

Coinbase is currently in a legal face-off with the SEC. So, engaging a new council is part of its preparatory strategies.

Coinbase Prepares To Fight With The SEC

Notably, the US SEC has toughened its regulatory stance in the crypto industry and is now closely watching most crypto-related firms.

In one of its enforcement actions, the SEC issued a Wells Notice to Coinbase in March, warning the company of a possible lawsuit over alleged breaches of securities. 

Reacting to the notice, Coinbase CEO Brian Armstrong noted that the regulator is focusing its accusations on staking and asset listing. He recalled that the SEC had reviewed the exchanges operations and approved its license in the past.

Ripples Chief Technology Officer (CTO), David Schwartz, responded to a tweet from a crypto enthusiast, calling the BEN Coin project a 100% rug pull. Schwartz asked the poster why he believed such but still stated his reservations about the new crypto project. 

So many crypto coins launch daily in the market. However, scam projects and rug pulls also deceive unsuspecting customers into investing.

A rug pull is a crypto scam where the project founder suddenly withdraws the projects liquidity, disappearing with investor funds. This leads to a sharp price drop and losses for investors.

David Schwartz Expresses Reservations About BEN Coin

A crypto enthusiast believes the BEN coin project was a 100% rug pull. Reacting to the tweet, Schwartz asked the user if he believed the rug pull would occur in the future or if Bitboys involvement in the project was a rug pull. Schwartz further concluded that he believed one of those scenarios.

Do you mean that the rug will be pulled in the future? Or do you mean that Bitboy joining the team is itself a rug pull? Because one of those things I definitely agree with.

David "JoelKatz" Schwartz (@JoelKatz) May 10, 2023

However, the popular crypto influencer Ben Armstrong, Bitboy,  reacted to these allegations stating that they are products of ignorance and hate.

He further explained that he is a force to reckon with in the crypto space, participating in projects that affected over 99% of the community. Also, he explained that his company employs over 40 people.

According to Armstrong, he has produced two videos daily in the past five years, a testament to his commitment to educating the crypto community. 

Bitboy asked the crypto community to stop believing memes that can create a negative impression.

Also, in another tweet, Armstrong informed his followers that he was taking over the BEN coin project. He also agrees with @eth_ben, a Twitter user, that BEN coins liquidity and assets will be transferred to him in a week.

Notably, BitBoy stated earlier that the coin was launched to serve as the governance token for his DAO. Also, the BEN token launched and traded for two days before BitBoy announced its existence. 

Memecoins can be used as a form of currency, although their acceptance and stability may vary.

BRISE, the native token of the Bitgert blockchain, has recorded some significant positive price movement in the last 24 hours. Although the BRC-20 token is still trading in the red zone, it appears to be attempting a market recovery following this sudden hike in its market value.

BRISE: Biggest Gainer In Top 200 Coin Roster

According to data by CoinMarketCap, BRISE has soared by 21.44% over the last day, making it the largest gainer among the Top 200 cryptocurrencies in the market, followed closely by the meme season diamond Pepecoin. 

This price movement has produced much excitement within the Bitgert community as the BRISE token has been in a bearish state for quite some time, recording significant losses. 

Data from CoinMarketCap shows that BRISE had lost 3.09% and 26.07% of its value in the last seven and 30 days, respectively. 

BRISE opened its weekly market around a price region of $0.0000003534 and exhibited a steady decline over the next few days before finding support around a market price of $0.0000002759 on May 12.

Thereafter, BRISE began to show signs of consolidation before finally experiencing a price surge yesterday morning to trade as high as $0.0000003781.

Although Bitgerts native token has slipped from such price heights, the decline has been insignificant, and BRISE appears to be gathering momentum for another price breakout. 

Interestingly, shortly after the BRC-20 tokens surge, Bitgerts developer team announced a supply burn of 500 billion BRISE tokens, which had drawn more interest to the asset as token burns are usually associated with price rises. 

500 Billion #BRISE burned!

Another 400 Billion #BRISE to be burned in next 6hrs!

Txn Proof: https://t.co/Dhtrk8fU49

Bitgert $BRISE (@bitgertbrise) May 13, 2023

At the time of writing, BRISE is trading at $0.0000003514 with a 0.4% gain in the last hour. The tokens daily trading volume is up 6.99%, valued at $9.71 million. With a circulation supply of 395.68 trillion tokens, Birgets native coin boasts a market cap v...

The United States Congressional Budget Office has predicted that the U.S. governments annual deficits will nearly double over the next decade.

Tether (USDT), the worlds largest stablecoin by market capitalization, was one of the dollar-pegged cryptocurrencies to have been affected by the collapse of the Terra ecosystem. Now a year later, the stablecoin has reclaimed its stable dollar peg and boasts one of the deepest reserves in the cryptocurrency industry.

Prominent Crypto Figure Dubs Tether A Precious Metals Powerhouse  

Gabor Gurbacs, on Friday, May 12, provided an insight into the significance of precious metals to Tethers financial setup. Interestingly, Gurbacs, the founder of PointsVille, dubbed Tethers USDT a precious metals powerhouse.

According to Gurbacs tweet, Tether Holdings Limited, the issuer of the USDT stablecoin, has placed substantial importance on gold, forging a solid reputation in the industry. His tweet also reveals that USDT, the third-largest cryptocurrency by market cap, has a staggering sum of roughly $3.4 billion in reserves held in gold.

Tether Gold-assets are around $3.4 Billion. XAUT AUM is around $500mm. Tether is now a precious metals powerhouse.

Don't underestimate the Tether team. High integrity and hard working team that supports Bitcoin, commodity technologies and financial inclusion. pic.twitter.com/0JPvNUk6n5

Gabor Gurbacs (@gaborgurbacs) May 12, 2023

In the same breath, Gurbacs noted that approximately $500 million backs the circulating supply of Tether Gold (XAUT), Tethers gold-pegged stablecoin. Furthermore, the amount of gold in Tether reserves far outweighs that of Bitcoin (BTC), which stands at about $1.5 billion. 

From Gubarcs perspective, the diversity of the USDT reserves which consists of gold, cash, corporate bonds, BTC, etc. helps protect the stablecoin against potential market collapses and unexpected negative events. Considering his advisory role within the firm, it may be fair to consider Gubarcs analysis of Tethers financial strategy as an insider viewpoint. 

Terra Collapse One Year Later

In one of the most catastrophic events in the crypto industry, the Terra ecosystem collapsed in May 2022, with its UST stablecoin losing its dollar peg. The ripple effect saw investors lose faith in most dollar-backed assets, including Tether USD. This caused the panic sale of these dollar-backed assets.

As a result, Tethers dollar peg broke momentarily, with the token falling as low as 92 cents at times. Furthermore, two months after the Terra collapse, Tethers market capitalization ha...

The crypto market has been looking to consolidate following a major price correction earlier in the week. One market that has felt the brunt of this correction is BRC-20 token which has suffered a major dip in its market cap. 

According to brc-20.io, which tracks the nascent market for tokens minted on the Bitcoin blockchain, the market cap of all BRC-20 tokens between May 8 and 11 went from $990,000,000 to $379,000,000, a 62% drop. At the time of writing, the market cap of BRC-20 tokens has rebounded and is around $570,000,000, making it a 40% dip within the seven-day trading period. 

Related Reading: Bakkt Streamlines Apex Crypto Platform By Removing 25 Tokens

The BRC-20 market is largely tied to the capitalization of ORDI token, which dominates more than 80% of the trading volumes. At the time of writing, it is currently trading around $15, down from its all-time high price of $28, achieved earlier in the month. The importance of ORDI in this market means that price variations directly and considerably affect the market cap of BRC-20 tokens. 

A Deep Dive Into BRC-20 Token 

BRC-20 is an experimental standard for issuing and transferring fungible tokens on the Bitcoin network. The deployment, issuance, and transfer of these tokens is done via a JSON data entry. Hence its relationship with the NFT Ordinals of Bitcoin. 

The creation of this standard is credited to a developer known as Domo on Twitter. On March 8, the computer scientist announced his progress in this area and acknowledged that it would be difficult for him to take this test further. For this reason, he preferred to share the project with others to experiment with. Since then, the ecosystem has exploded, with more than 14.000 tokens launched, according to brc-20.io.

Although the name BRC-20 is a reference to Ethereums ERC-20 standard. However, both standards differ in several of their characteristics, especially due...

0.00010 BTC = 2.69 USD
1.00 USD = 0.00004 BTC
Converter

Crypto mining firm Riot Platforms is seeking to terminate certain hosting agreements with Rhodium Enterprises and be relieved of refunding any outstanding power credits.

The meme coin space has long been dominated by the likes of DOGE, SHIB, and PEPE, but now a new entrant into the space has signaled a shift in the market. ETH Furbo (FETH) is an Ethereum-based token that gives PEPE reflections to all holders regardless of how much they hold. This means that while investors are earning significant returns on their FETH holdings, theyre also earning PEPE which means they are getting double the profits.

FETH Announces Presale Date

In its grand entrance into the crypto market, the FETH team has announced its presale date. The presale is scheduled to hold on Monday, May 15th, at 5 PM UTC and the page is currently live on Pinksale. This will give investors the first chance to get into the FETH token at the lowest price possible.

Welcome everyone. Our presale will be taking place on PINKSALE on Monday, May 15th at 5 PM UTC. Our page is now live on @pinkecosystem https://t.co/FvVb9IzqZa

Here's what to expect $SHIB $DOGE $PEPE $ETH $LADYS pic.twitter.com/Qb6WEypjcA

ETH FURBO | Hold $FETH For $PEPE REWARDS (@ethfurbo) May 12, 2023

Presales are important to new projects such as ETH Furbo an avenue to raise funds to provide liquidity and promotions for their token while giving investors an opportunity to buy the coins for a low price. This is because upon listing, tokens debut on the market at much higher prices, bringing presale investors good profits.

The total supply of FETH is 1,000,000,000,000 tokens and 56% of the total supply will be available for presale. 31.92% of the tokens will go toward the liquidity pool, 6.08% of the supply will be held for centralized exchange listings and liquidity for...

Calls for a boycott of Coinbase over memecoin controversy, Floridas ban on CBDCs, and the effects of Bitcoin Ordinals on the BTC network.

Ethereum core developers released patches for Prysm Labs and Teku clients in response to a Beacon Chain issue preventing block finalization.

Jump Trading and its CEO, Kanav Kariya, are accused of violating United States regulations and unjust enrichment in the lawsuit.

The hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow.

Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies of 2021, thanks to the involvement of high-profile figures like Elon Musk and Mark Cuban. Its value skyrocketed earlier this year, but has since retreated. 

As investors and traders keep a close eye on its movements, the next potential catalyst for Dogecoin could be a decisive breakout on higher-than-average trading volume. 

Lets examine the current state of Dogecoin, what traders are looking for in terms of a breakout, and what the future may hold for this popular meme coin.

Dogecoin (DOGE) Recent Performance And Price Action

On Wednesday, Dogecoins downtrend was confirmed as the cryptocurrency hit a lower high of $0.074 and formed a lower low at the 7-cent mark on Monday. As of Fridays 24-hour trading session, Dogecoin was attempting to print an inside bar pattern, indicating a potential bearish trend. 

Traders should monitor the cryptos movement and volume to assess its future direction, especially if it breaks up or down from Thursdays mother bar.

At the time of writing, Dogecoins price on CoinGecko was 0.072436, showing a 3.0% 24-hour rally. However, the last seven days have been challenging for the meme-inspired cryptocurrency, with a significant slump of 9.0%.

Despite the recent decline, theres a chance that Dogecoins local bottom has occurred as it was working to print a hammer candlestick on Friday. This candlestick pattern suggests that the cryptocurrencys downward momentum may have come to a halt, but it remains to be seen whether it can sustain an upward trend in the coming days.

Potential Catalyst For Dogecoins Recent Rally

Dogecoins recent 24-hour rally may have been influenced by the recent events on Twitter, which have been previously spearheaded by Elon Musk, the self-proclaimed Dogefather. 

However, he has now handed the leadership to Linda Yaccarino, NBCUniversals advertising chief, who appears to share Musks enthusiasm for meme coins.

Yaccarinos interest in Dogecoin and Shiba Inu is evident from the fact that she follows multiple affiliated accounts on Twitter, including the primary ones for both cryptocurrencies.

However, her views on key issues related to cryptocurrencies, particularly their potential role on social media platforms, remain largely unknown, despite her active presence...

This weeks Crypto Biz explores Arbitrums latest proposal, Ripples two-year battle with the SEC and a large corporations coalition to build blockchain solutions for institutional investors.

A recent report published on WIPOs global database for intellectual property disclosed LG Electronics application to acquire an NFT trading patent for its Smart TV. 

Notably, the WIPO guide states that a filing application can only be published after 18 months. As such, the South Korean tech company filed for the patent in November 2021. Now LG is awaiting the remaining steps to grant or deny the patent. 

LGs Technology Supports NFT Trading On Smart TV

The LG technology will enable users to connect their crypto wallet and an NFT market server for trading. 

After connecting to the NFT server, users will see an onscreen QR code to enable them to transact through their crypto wallet.

Before this patent application, LG launched an NFT platform, LG Art Lab marketplace, in September 2022.  

The platform launched on the Hedera network which allows all smart televisions running webOS 5.0 or the later versions to trade digital arts. 

Users can buy and sell high-quality digital artwork on the Smart TV home screen. Also, the platform features LG Art Lab Drops to profile artists and preview new works intending to launch. 

For now, the company hasnt said whether the Smart TV will accommodate other wallet apps besides LGs smartphone crypto wallet, Wallypto, which is also used on the Art Lab Marketplace. 

Big Tech Companies To Integrate Web3 Solutions On Smart Devices

Besides the recent technology to support NFT trading on Smart television, LG plans to integrate other solutions on its devices. 

The company partnered with cloud-based tech platforms, Oorbit and Pixelynx, to integrate Metaverse on big screens. Oorbit announced on Twitter, proclaiming its excitement about the partnership. 

According to the reports, the partnership aims to bring interoperable virtual worlds to LG TVs. The partners will simplify the way consumers interact in the metaverse, ensuring immersive gaming and experiences in the virtual world. 

Oorbit stated that scaling its technology for the millions of customers who use LG TVs is a great way to bring the metaverse closer to the people.

Before the partnership, LG had expanded its business development goals to include crypto and blockchain-based software development.

LG disclosed two plans base...

Bitcoin traders line up safe support levels, but order book data makes one observer uneasy about the future.

In a recent development, the digital asset firm Bakkt delisted 25 tokens used in decentralized finance transactions from its trading platform, Apex Crypto. Bakkt acquired the platform in 2022 with 36 tokens, now 11 after the overhaul exercise.

According to the firm, its reasons for delisting the tokens was to follow up-to-date regulatory guidance.

25 Tokens Failed Bakkt Coin Listing Review Process

Bakkt performed its normal coin listing reviews, after which it removed 25 tokens from the platform. 

A Bakkt representative said the company aims to protect its customers best interests. As such, the review process focuses on how to serve those interests based on the latest industry developments and up-to-date regulatory guidance. 

As of press time, the firm hasnt released more details on the action. But the tokens were major ones that facilitated DeFi transactions. 

These tokens include Aave (AAVE), Bancor Network Token (BNT), ApeCoin (APE), Basic Attention Token (BAT), Avalanche (AVAX), Cosmos (ATOM), Filecoin (FIL), Curve DAO (CRV), Chainlink (LINK). 

Also, Compound Token (COMP), Enjin Coin (ENJ), Chiliz (CHZ), Fantom (FTM), GALA (GALA), Loopring (LRC), The Graph (GRT), Maker DAO (MKR), and Internet Computer (ICP) were delisted.

Other ones include Sushiswap (SUSHI), Uniswap (UNI), Synthetix (SNX), Yearn Finance (YFI), and Texos (XTZ). 

This is not the first time Bakkt has made a major decision regarding its customer-oriented services. The firm shut down its retail app that supports crypto trading, gift cards, and loyalty rewards in February 2023. 

At that time, the firm disclosed plans to focus on B2B technology solutions stating that it would offer crypto and loyalty rewards to businesses via API and SaaS solutions. 

Apex Crypto Acquisition A Strategic Move To Expand Offerings

Apex Crypto was launched in 2019 as a turnkey platform for integrated crypto trading, allowing investors to transition from equity to crypto.

This is an opinion editorial by Robert Hall, a content creator and small business owner.

The race for the 2024 U.S. presidential election is starting to kick into gear, featuring some of the same cast of characters from the last few elections. On the Democratic side, you have Joe Biden, Robert F. Kennedy and Marianne Williamson suggesting they will run. Then, Former President Donald Trump, Nikki Haley, Ron DeSantis and Vivek Ramaswamy are on the other side of the aisle.

If you have been following the race so far, you might know that Trump seems to be walking away with the nomination before the process even starts next year. If he ends up being the nominee, we will likely get a re-run of 2020, where we have two men over 70 years old who both think that they know what is right for the country. Who else is tired of having baby boomers running the show? I am, to be honest.

Boomer Presidents Dont Understand Bitcoin

Baby boomers, youve had their time in the sun. Its time to leave the stage and let the younger generations of leaders have a chance to lead the country. We need leaders who understand the emerging challenges facing America as we speak.

We need leaders who thoroughly understand economic policy and the value of innovation in the financial space. For instance, the baby boomers at the top of the ticket dont have the depth or the capacity to understand the once-in-a-lifetime opportunity that Bitcoin presents to America and the American people.

Biden and Trump have been openly hostile...

PayPal share prices are plunging and currently down 80% from 2021 peaks; the largest draw down ever, market data on May 12 shows. PYPL closed the week at $61.69, down 3% from Thursday, March 11.

PayPal Shares Crumbling

Analysts observe that the decline in PayPals stock price has also resulted in a notable shift in its price-to-sales (P/S) ratio.

PayPal is now down 80% from its 2021 high, its largest drawdown to date.

Its price to sales ratio has moved from a record high of 17x to a record low of 2.5x.$PYPL pic.twitter.com/w9JjzPXmJb

Charlie Bilello (@charliebilello) May 12, 2023

Previously at a record high of 17x, the P/S ratio is now at a record low of 2.5x.

The P/S ratio is a financial metric, which evaluates a companys valuation, and compares its market capitalization to its total revenue over a specific period, typically a year.

The P/S ratio offers valuable insights into how the market perceives a companys revenue generation relative to its size. The ratio focuses on the rise and fall of the companys revenue.

This ratio also signifies the amount investors are willing to pay for every dollar of the companys revenue.

To put it into perspective, PayPals previous P/S ratio of 17 implies that investors are willing to pay $17 for every $1 of revenue generated by the company. Now, investors are only willing to pay $2.5 for every $1 revenue.

Paypal shares are still at a premium. A P/S ratio above 1 indicates that investors are still willing to pay a premium for the companys revenue.

While the exact reasons behind PayPals downturn are not explicitly stated, speculation suggests that the company is facing a combination of intense competition and outdated technology. PayPal is one of the oldest payment processors.

As the online payment landscape is constantly evolving, it has become increasingly challenging for PayPal to wade off competitors.

For instance, banks have incorporated new systems such as Zelle. Besides, the Federal Reserve is rolling out FedNOW. There are also other avenues for users to use cryptocurrencies or even networks such as XRPL by Ripple Labs.

Some users have even compared PayPals level of innovation to what it was in 1999 when Western Union was its primary competition.

Popular Bitcoin hard fork and one of the earliest cryptocurrencies, Litecoin (LTC), have recorded some interesting network activity in recent times. According to data from the on-chain analytics platform, Santiment, the number of daily active network addresses on Litecoin has increased by over 400,000 since the start of May. 

However, Litecoin has only experienced a slight increase in its transaction volume during the same period, which is unusual considering the significant rise in its daily active addresses. Analyzing this network activity, Santiment released a detailed report on the factors behind such development.

LTC-20 Standard Drives Rise In Litecoin Micro Addresses  

According to Santiment, the majority of new active addresses on Litecoin are the most miniature set of wallets on the network holding between 0-0.001 LTC. This explains the little increase in trading volume despite the rising number of daily addresses. 

Behind this gain in micro wallets, Santiment postulates the recent introduction of the LTC-20 token standard to be the primary driving force. This is based on chart data which shows that this exciting rise in the 0-0.001 LTC wallets began after the launch of the LTC-20 standard on May 2. 

According to its official Gitbook page, LTC-20 is referred to as an experimental standard for non-fungible tokens (NFTs). 

While providing an introduction to this blockchain product, the page author stated; 

this is an extremely dynamic experiment, and I strongly discourage any financial decisions to be made on the basis of its design. I do, however, encourage the Litecoin community to tinker with standard designs and optimizations until a general...

Track your expenses and savings goals using budgeting apps to build your emergency fund.

A former FTX regulatory officer, Daniel Friedberg, has come forward to back the lawsuit against FTX celebrity promoters, adding weight to the allegations leveled against the cryptocurrency exchange.

Due to his knowledge of the companys internal compliance practices, Friedbergs decision to support the legal action is a significant blow to FTX.

Notably, the lawsuit started mid-November last year, a few days after the exchange shut down.

FTX Lawsuit Gains Support From Former Executive

As revealed in the proposed amended complaint, Friedberg gave evidence that FTX promotional activity surfaced from Florida.

Daniel Friedberg was the compliance chief of the US arm of FTX and FTXs chief regulatory officer. 

So, his evidence could negate the defendants claims, stating that FTXs activity has no connection with Florida, including the Miami court. 

Friedberg also referred to the vice president of the US arm of FTX, Avinash Dabir, noting that he is based in Miami. He added that Dabir performed operations in the city from an FTX office in 2021.

He said that Dabir was responsible for overseeing FTX brand ambassadors, of which the court defendants are no exception.

The brand ambassadors noted were comedian Larry David, Shaquille ONeal, a former basketball player, retired NFL player Tom Brady, and FTX founder Sam Bankman-Fried.

Other celebrity promoters include entrepreneur Kevin OLeary, Steph Curry, a basketball star, with his team, the Golden State Warriors, and Bradys ex-wife, model Gisele Bundchen.

Meanwhile, the class action lawyers saw that Friedbergs statements countered the defendants claims.

They claimed its unlikely for such a conspiracy to erupt from Florida because the exchange did not intend to expand to Miami until September last year. It was after the move to Miami that they enacted the promotional agreements.

In the meantime, the lawsuit class action lawyers are assessing the new evidence from the defendants to amend the case. 

Celebrities Face Lawsuits For Misleading Crypto Endorsements

Several crypto endorsements for celebrities have often landed in lawsuits. This happens when misleading statements regarding a cryptocurrencys potential returns, security, or legitimacy make investors suffer financial losses.

Additionally, endorsing or promoting unregistered securities without complying with securities laws...

Market analysts are watching Ripples XRP for a potential price surge against the worlds leading digital currency, Bitcoin.

XRP, known for its lightning-fast transaction speed and secure blockchain technology, has recently experienced a rollercoaster ride due to its lawsuit with the US Securities and Exchange Commission.

However, an XRP and BTC chartist, Cryptoes, predicts a trend reversal for XRP based on current indicators on the chart. 

Analysts See A Pump In XRP Price Against Bitcoin

The performance of XRP since the beginning of April has been very low compared to that of Bitcoin. This led to a notable decline in the XRP/BTC pair over the last five weeks.

Its poor performance does not affect how certain analysts picture the token. The positive view of XRPs price can be attributed to a key support level at its current position.

Cryptoes called crypto enthusiasts attention to this occurrence in a tweet, revealing that the weekly chart of the XRP/BTC pair projects a major support level. The chart revealed that XRPs price had slowed against Bitcoins since April 3.

However, the support level could prevent further decline of XRP tokens as it might be the bottom point. He added that the token might consolidate for weeks before initiating a rally.

Another popular crypto analyst, Egrag, has a different view from Cryptoes. According to him, the market currently projects a bearish trend.

His reason is hinged on the movements of two Simple Moving Averages (SMA), the 20 and 100 moving averages on the same chart.

According to Egrag, the 20 Simple Moving Averages (SMA) place sell pressure on the coins price. As such, the 100-moving average is a strong resistance against the current price of XRP. It could be difficult for the token to break out from such resistance.

He believes that the presence of these indicators signals market weakness, and XRP could yield to them. But time will tell if XRP will pump to close above the falling wage.

XRPs Recent Price Performance

There is no significant difference between XRPs price at the beginning of May and its current price of $0.4286. On May 1, the coin was trading around the $0.47 price mark, which eventually declined to $0.465 at the close of the day.

OKX Wallet has announced the launch of its new platform, Cryptopedia, and its partnership with protocols, Radiant and Marinade. This announcement would come following wide discussions about the waning influence of Binance, the worlds largest cryptocurrency exchange.

OKX Launches Cryptopedia; Partners With Radiant And Marinade 

In a GlobeNewswire press release dated May 13th, 2023, OKX Wallet disclosed the launch of Cryptopedia, a Web3 learn-to-earn and airdrop platform. This new platform aims to help users easily identify and access Web3 projects and dApps. Cryptopedia will also enable users to unlock additional airdrops and gain extra rewards. 

The first Cryptopedia issue, which is focused on the zkSync theme, provides users with the opportunity to receive zkSync airdrops and other related airdrops. Users will also have the chance to collect non-fungible tokens jointly created by OKX Wallet and zkSync.

zkSync is a Layer-2 scaling solution designed to enhance transaction speed and reduce cost on the Ethereum network. As the name suggests, this protocol is based on the zero-knowledge (zk) concept.

In the press release, OKX Wallet also announced its partnership with two protocols, namely Radiant and Marinade. Its collaboration with Radiant, a decentralized lending protocol native to Arbitrum and BNB Chain, will allow users to access Radiants lending service via the OKX Wallet plug-in and Discover platform.

With Radiant, users are able to borrow a variety of digital assets across multiple chains against their own assets on one chain.

Marinade, on the other hand, is a non-custodial liquid staking derivatives (LSD) protocol on the Solana network. Similar to Radiant, this partnership will facilitate users access to Marinades liquidity staking service via the OKX Wallet plug-in and Discover platform.

OKB Shows No Significant Price Action

The OKB coin is the utility token of the OKX ecosystem. From trading fee discounts to passive income, there are a few benefits that holders of this token get to enjoy. And it appears that the growth of the OKX ecosystem has some links to OKB price.

That said, it is somewhat too early to tell what the impact of these partnerships will be on the price of OKB. Moreover, there has been no significant price movement in the OKB market since the announcement was made.

A broader look at price action reveals that the OKB market has been moving sideways in the last few weeks. According to data from Co...

The weekend is here! Pour yourself a mug of  coffee, grab a seat outside, and get ready for our longer-form weekend reads:

He wrote a book on a rare subject. Then a ChatGPT replica appeared on Amazon. From recipes to product reviews to how-to books, artificial intelligence text generators are quietly authoring more and more of the internet. (Washington Post)

The Crypto Winter Cost People More Than Their Money: Some acolytes lost faith, others blamed devilsand some went even harder. An essay exploring what happens when the prophecy of blockchain fails. (Bloomberg)

Is It Time to Quit Coffee for Good? A growing chorus of concerned former addicts are trying to wake people up to caffeines negative effects. (Esquire)  My answer ius No!

Richard Feynman: The One and Only: Richard Feynman was the Michael Jordan of physics. His intellectual leaps, seemingly weightless, defied explanation. In 1960, in his early forties, restless and unable to find a physics problem worth working on, Feynman taught himself enough biology to make an original discovery of how mutations work in genes. (New York Review of Books)

Your IQ isnt 160. No ones is. Stratospheric IQs are like leprechauns, unicorns, or mermaids. (The Intrinsic Perspective)

The Time Thief Who Stole 106 Rare Clocks in a Daring Heist: Authorities eventually recovered 96 of the lost timepieces, including a $30 million watch commissioned for Marie Antoinette. (Smithsonian Magazine)

On the trail of the Dark Avenger: the most dangerous virus writer in the world: Bulgaria in the 1980s became known as the virus factory, where hundreds of malicious computer programs were unleashed to wreak havoc. But who was writing them, and why? (The Guardian)

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Despite the prevailing bearish trend in the crypto market, venture capital firms consummated several deals worth billions in the first quarter of 2023.

Data from PitchBooks Crypto Report for Q1 2023 disclosed that crypto firms generated $2.6 billion through 353 investment rounds. 

Though the level of deals from the companies indicated the viability of the crypto space, theres still evidence of its weakness.

Report Highlights Declines In The Number And Value Of Investment Deals

According to the report, the first quarter of 2023 had the lowest amount of capital invested in the crypto space since 2020.

The total deals declined by 12.2% from the last quarter, while the quarter-on-quarter deal value dropped by 11%.

The report highlighted that Q1 2023 marks the fourth consecutive quarter of dipping investment activity for VCs. 

Notably, the number and value of VCs deals decreased by 64.4% and 78.0%, respectively, from the same quarter in 2022.

Further, the report indicated a mix in the valuation trends. Seed and late-stage rounds grew by 33.3% and 209.2%, respectively, compared with the full year of 2022. But early-stage rounds plummeted by 16.7% during the same period.

Also, the report noted that the crypto bearish trend could continue. But the space still has some positive outlooks currently. 

For instance, layer 2 scaling solutions have been doing great, maintaining their growth from last year.

The data highlighted a blockchain-based firm, Blockstream, that raised $125 million for funding a Bitcoin mining infrastructure. 

Also, another company committed to developing zero-knowledge Ethereum Virtual Machine scaling solutions, Scroll, has done well. The firm raised $50 million in a late-stage VC round.

Overall Decline In The Crypto Market

The crypto market has continued to show red charts as prices of most assets witness more losses. Subsequently, the cumulative crypto market cap declined over the past 24 hours. Also, the total crypto market volume plummeted 8.10% within the past 24 hours to $42.75 billion.

The primary crypto asset Bitcoin has been struggling within the past few days. According to data from CoinMarketCap, Bitcoins price has continuously declined for the past week.

The token dropped from the $29,000 region to the $26,000 level. The seven-day price action shows that BTC plummeted by over 9%.

At the time of writing, Bitcoin is trading at $26,759 after losing minor gains over the past 24 hours. Its market cap now sits at $511 billion, with a market dominance of 46.30%.

Since the beginning of this year, Polkadot has been on a roller coaster ride as the general cryptocurrency market has fluctuated over the past months.

Recently, the price of Polkadot (DOT) has experienced negative sentiment, causing a slight decline in the coins value.

The coins price slightly decreased from $5.51 to $5.12 on May 9, 2023. However, it started to gain further positive momentum the same day and recovered to $5.3 today.

Strong Bearish Momentum

The price of DOT has been trading sideways within the last 24 hours, indicating a bearish trend. As a confirmation of the bearish momentum in the Polkadot market, the 24-hour trading volume is down by 18%.

The decline indicates a decrease in demand for DOT in the market and might lead to greater volatility as traders adjust their position based on the market sentiment.

Polkadots current market cap is estimated at $6.1 billion, with a market dominance of 0.56%. But the increase in selling pressure has impacted the price of Polkadot significantly.

Polkadot is in the phase where investors and traders are afraid to buy or hold the coin. As investors take advantage of the current dip in price to acquire more DOT, anticipate a modest recovery in the coming week.

Polkadot (DOT) Technical Analysis

DOT trades below its 200-day and 50-day Simple Moving Averages (SMA). This indicates that DOT has a bearish momentum in both long-term and short-term trends. 

The Relative Strength Index (RSI) indicator shows that DOT currently reads 32.92. This indicates that the coin is slightly in the oversold region. It also suggests that DOT is experiencing some downward pressure. However, the asset may rebound from its oversold condition and return to a normal trading range.

The MACD indicator also confirms the bearish trend as its trading below the signal line. This indicates that the bears have more pressure than the bulls.

Meanwhile, the number one gaming blockchain platform, Mythical Games, is departing from the Ethereum network to launch its new Mythos ecosystem on Polkadot. 

The recent development will allow Mythos gaming partners to build the biggest and most connected gaming ecosystem in the Web3 industry.

The development will result in a new scalable platform, accessible to all Mythos partners and compliant with Web2 gaming platforms, including the Epic Games Store.

Quadriga Fintech Solutions CEO and founder Gerald William Cotten (Quadriga CX)

The creditors will receive a monetary equivalent of the value of their lost crypto assets as of April 15, 2019.

0.00010 BTC = 2.68 USD
1.00 USD = 0.00004 BTC
Converter

NFT game MechaFightClub is shutting down due to regulatory uncertainty in the U.S., while Yuga Labs new CEO has snapped up a BAYC NFT for well over the floor price.

The delisting included major tokens used in DeFi, with the company saying it was following up-to-date regulatory guidance.

Court Lawsuit Judge Legal (Shutterstock)

Bakkt leadership (Bakkt)

The legislation appeared to be another attempt at the Accountability for Cryptocurrency in El Salvador Act, originally introduced after the countrys Bitcoin Law was enacted.

A group of United States senators have introduced a bill requiring reports on the adoption of bitcoin as legal tender in El Salvador. 

The "Accountability for Cryptocurrency in El Salvador Act," introduced by Senator James Risch, Senator Bob Menendez, and Senator Bill Cassidy, requires the Secretary of State, in coordination with other relevant Federal departments and agencies, to submit a report on the adoption of bitcoin as legal tender in El Salvador. The report must include an assessment of the regulatory framework in El Salvador and the potential impact of Bitcoin adoption on macroeconomic stability, democratic governance, and the flow of remittances from the United States to El Salvador.

The bill also calls for a plan to mitigate any potential risks to the United States financial system posed by the adoption of a cryptocurrency as legal tender in El Salvador and any other country that uses the U.S. dollar as legal tender. According to the bill, the plan should be submitted to the appropriate committees of Congress no later than 90 days after the report required by subsection (a).

The Bitcoin Law, passed by the Salvadoran government in June 2021, gives Bitcoin legal tender status in the country. The move was criticized by some experts, who argued that it could lead to instability in the country's economy. Others, however, saw the move as a potential catalyst for broader adoption of bitcoin in the region. Despite the controversy surrounding the move, El Salvador has remained committed to its Bitcoin adoption plans.

(Nathan Lau/Getty Images)

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(Kaleb Tapp/Unsplash)

Binance is the latest in a string of departures from CEO Changpeng Zhaos home country, but it promises to keep working with regulators.

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(CSA Images/GettyImages)

Marco Santori

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The information was published on WIPOs global database for intellectual property on May 11, 18 months after LG filed its application.

U.S. Capitol (Jesse Hamilton/CoinDesk)

Former Senator Patrick Toomey, former Representative Tim Ryan, former Representative Sean Patrick Maloney, and others will advise Coinbase on crypto policies.