The deal was announced in April and approved by the bankruptcy judge on May 4.

Ledger CEO Pascal Gauthier at Web Summit 2021 in Lisbon, Portugal. (Harry Murphy/Web Summit via Sportsfile)

Seeing crypto and AI as unrelated technologies is a mistake. They are complementary, each improving the other, says CoinDesks Chief Content Officer, Michael Casey.

(CoinGeko)

Security is really the precursor to mass adoption and scalability," Alex Zinder, global head of hardware wallet maker Ledger Enterprises said, on CoinDesk TVs First Mover," show. (Hendrik Morkel via Unsplash)

In the latest Cointelegraph Report, we assed the risk of a possible default in the U.S. and the impact of the debt ceiling crisis on crypto and the broader markets.

According to the latest report by the research firm, Messari, the XRP Ledger (XRPL) saw a significant surge in activity during the first quarter of 2023. The daily active addresses and daily transactions increased by 13.9% and 10.7% QoQ, respectively.

XRPs price also showed an impressive increase of 56% quarter-over-quarter (QoQ), from $0.35 to $0.54. This price increase outpaced the total crypto market cap in the same period, largely due to positive news regarding the ongoing case between Ripple and the Securities and Exchange Commission (SEC).

 XRP Ledger Network Activity Soars

The XRP Ledger is a blockchain network operational for over a decade. It is known for its fast and energy-efficient cross-border payment capabilities, among other features.

It offers a variety of native capabilities, including Issued Currencies, a decentralized exchange, escrow functionality, and token management. These features allow the XRPL to execute many of the same functions as other networks, even though it does not support smart contracts.

The chart above shows that the XRPL has seen a significant increase in overall network activity metrics in Q1. Daily active addresses and transactions increased by 13.9% and 10.7%, respectively. The increase in total active addresses was largely due to receiving addresses growing by 17.1% from 47,000 to 55,000. However, sending addresses decreased by 7.2% QoQ, further separating the metric from receiving addresses.

Despite 141,000 accounts being deleted in Q1, the total addresses increased. This is because, unlike many other blockchain networks, the XRPL allows accounts to be deleted to reclaim the deposit of XRP escrowed during account creation. This escrow incentivizes to delete of accounts, and the total address metric has more significance.

According to the report, the XRPL applies deflationary pressure to the total supply of 100 billion XRP through transaction fee burning. However, only around 10 million XRP have been burned since the XRPLs inception. To counteract this burn rate, 1 billion XRP vests to Ripple per month. Any XRP not spent or distributed by Ripple in that month is returned to escrow. This sy...

Court Lawsuit Judge Legal (Shutterstock)

The service provides code to scammers that allows them to drain wallets using token approval phishing methods

The SEC has proposed changes to the Custody Rule for assets, which has ramifications for crypto. (Chip Somodevilla/Getty Images)

Warren Jenson (provided)

(Axie Infinity)

Deadfellaz NFT (DFZ Labs)

Antoni Gauds Casa Batll in Barcelona, Spain (6529 Fund)

BTC price action destabilizes as markets watch Fed Chair Jerome Powells language for hints of policy change.

Litecoin (Litecoin Foundation)

(Dale Kaminski/Getty Images)

(Shutterstock)

(Shutterstock)

Governor of the Indonesian Province of West Java, Ridwan Kamil and prominent Bitcoin global advocate and JAN3 CEO Samson Mow, revealed in a fireside chat titled "The Indonesia Bitcoin Mining Campaign" that the government of Indonesia is researching various ways in which bitcoin adoption in the country could benefit its people.

Governor Kamil explained the specific environment that makes Indonesia a potential major player in the bitcoin mining space, saying [Indonesia has] the second most geothermal potential in the world more than 800 rivers with hydropower. As bitcoin allows the transformation of energy into money, bitcoin could be transformative for indonesia

He also explained that the country is already on a steady path towards adoption, with more than 12 million cryptocurrency investors, 70% of which are invested in bitcoin. According to Governor Kamil, this number grows by half a million a year.

In addition, the Governor touched on how bitcoin could bring financial technology to people in his country who currently do not have access to that. Bitcoin is a solution in my opinion to unbankable parts of my society, he explained. 40% of my people are unbankable.

Another topic touched on was the recent introduction of an Omnibus bill that allows for 100% foreign investment into renewable energy projects above 1 MW. This bill could lead to increased investment and attention in the region. Come to indonesia, lets have this big reserve of renewable energy dedicated to the bitcoin mining business, Governor Kamil said.

Mow touched on the opportunity at hand for Indonesia, saying that The first [countries] that adopt bitcoin in a meaningful way will have a big advantage. Afterwards, Governor Kamil inquired about the way that El Salvadors bitcoin bonds function. Mow replied that The bonds can finance the buildout of new energy infrastructure Indonesia could have a volcano bond too.

Overall, the talk indicated that Governor Kamil is cautiously optimistic, and that he sees bitcoin as a potential game changer for the economy of his country and the livelihood of his people. As a country with access to major amounts of renewable energy and large portions of the population unbanked, it is seemingly ripe for bitcoin adoption.

"The new generation is buying Bitcoin as a reserve," Governor Kamil concluded. Hopefully Indonesia will be a Bitcoin heaven in the future."

Bitwage, a leading provider of Bitcoin payroll and invoicing, has introduced a solution that allows employers to seamlessly connect their payroll providers to Bitwage's service. This development simplifies and ensures compliance for workers who wish to receive a percentage of their paycheck in Bitcoin, stablecoins or USD. Notably, this solution is compatible with various payroll providers, including ADP, Paychex, Paycom, Gusto, Trinet and many others.

According to a press release sent to Bitcoin Magazine, what sets Bitwage apart is its non-custodial experience, ensuring that employees receive their payments directly into the wallet of their choice, maximizing security and minimizing risk.

To implement this solution, companies need to sign up on the Bitwage platform and connect their payroll provider through the Bitwage Automated Connection. From there, Bitwage creates a custom, post-tax benefit on the payroll provider's portal, allowing employees to opt-in. Employees can then choose the amount they wish to be deducted from their paycheck and distributed through Bitwage.

With each pay cycle, Bitwage automatically generates a payroll for each employee based on their payroll preferences, extracting the necessary data directly from the payroll system. Employees can receive their payments directly into their preferred Bitcoin, crypto or stablecoin wallet or even as their local currency into their bank accounts.

Bitwage's CEO, Jonathan Chester, emphasized their mission to enable workforces to be paid in their preferred method, whether it's bitcoin or fiat. We recognize that crypto can be scary for employers, so to enable this mission, we are building out fully compliant solutions and removing the complexities and custodial risk of crypto from the equation, Chester said.

The TBD announcement was made at the Bitcoin 2023 conference in Miami. (Frederick Munawa)

Lido (LDO), the leading liquid staking derivatives (LSD) protocol, recently made waves in the crypto community by enabling staked ETH (stETH) withdrawals. Expectations were high as many anticipated a surge in stakers unstaking their ETH.

However, contrary to these predictions, Lido has witnessed a remarkable increase in ETH deposits, reaching a record-breaking level. This surge has also been reflected in the protocols native token which has recorded a rally of more than 20% in the past week.

ETH Deposits Soar to New All-Time High

Despite the introduction of stETH withdrawals, Lido experienced a surge in ETH deposits, defying expectations of widespread unstaking. On Friday, the platform witnessed a significant milestone as the total number of ETH deposited hit an all-time high.

According to data provided by Lido, an astounding 6,373,289 ETH is currently staked with Lido, equivalent to more than $11.5 billion. Interestingly, while ETH deposits on Lido continue to soar, stETH withdrawals have remained stagnant around the 450,000 ETH mark, as reported by data from Nansen.

It is worth noting that these withdrawal requests have yet to be processed, contributing to the overall stability of stETH withdrawals. This trend raises questions about the anticipated unstaking frenzy, prompting a closer examination of the factors influ...

(Ripple Labs)

Lule Demmissie, CEO of eToro, says that the new partnership with Twitter creates a symbiosis between social networks and social trading.

Bitcoin has now dipped below the $27,000 level as on-chain data shows the miners have possibly been selling the asset recently.

Bitcoin Miner Reserve Has Taken A Sharp Plummet Recently

As pointed out by an analyst in a CryptoQuant post, miners have taken out about 1,750 BTC from their wallets during the past day. The relevant indicator here is the miner outflow, which measures the total amount of Bitcoin that miners are transferring out of their wallets currently.

The counterpart metric of the outflow is called the inflow, and it naturally tracks the total number of coins going into the addresses of these blockchain validators.

Here is a chart that shows the trend in the Bitcoin miner outflow, as well as the inflow, over the last few weeks:

Whenever the miner inflow has a high value, it means that this cohort is depositing a large amount of Bitcoin into their wallets. Such a trend, when prolonged, can be a sign that the miners are accumulating right now. Naturally, this can have bullish implications for the price.

When the outflow is high, on the other hand, it suggests that a large amount of the asset is exiting from the supply of the miners. Generally, the main reason why these holders transfer their coins out of their wallets is for selling-related purposes, so this kind of trend can be bearish for the cryptocurrencys value.

In the above graph, its visible that the miner inflow has been at relatively low values during the past day, implying that these investors arent depositing any significant amounts to their wallets.

The miner outflow, however, has registered a pretty high spike in the same period. In total, around 1,750 BTC ($47 million) has exited the supply of the miners with this surge in the indicator.

Since there havent been any inflows to counteract these outflows, a net amount of the asset has now left the miners wallets. This would mean that if the outflows were made for selling purposes, a net bearish effect should appear on the price.

An indicator that helps better identify whether these transfers were for selling or not is the ...

Canadian regulators are providing more clarity than their U.S. counterparts. (Chris Robert/Unsplash)

Fed Chair Jay Powell (Kevin Dietsch/Staff/GettyImages/PhotoMosh)

The Paraspace CEO and consultants accused each other of mismanaging funds with the Paraspace team asking the CEO to step down publically.

(Bradley D. Saum/Shutterstock)

Nodes are key to run transactions on a blockchain. (Omar Flores)

Bitcoin advocate Joe Hall believes that all other cryptocurrency projects will collapse into Bitcoin in the coming years.

Bitcoin price could drop to $20,000 in Q3 amid mounting worries about a potential cash liquidity crisis led by the U.S. Treasury Department.

Shiba Inu (SHIB) has recently caught the attention of investors as its chart reflects a significant surge in capital inflows and buying pressure. These developments have left many speculators wondering if this positive momentum will be sufficient to initiate a much-anticipated price rebound. 

With increased interest and activity surrounding Shiba Inu, all eyes are now focused on whether this surge in support will ultimately lead to a revitalization of the cryptocurrencys fortunes.

Shiba Inu Price Consolidation And Increased Capital Inflows

Shiba Inu, over the past few days, has witnessed relatively low volatility on higher timeframe price charts. From May 8 onwards, its price has oscillated within a range of $0.00000832 and $0.00000914, indicating a period of consolidation.

At the time of writing, CoinGecko reflects Shiba Inus price at a mere $0.00000871. In the past 24 hours, the cryptocurrency experienced a slight slump of 1.4%. The meme coin was up a very modest 0.3% over the course of the last seven days.

Despite the recent price consolidation, the daily charts CMF (Chaikin Money Flow) and RSI (Relative Strength Index) have shown notable upward movements in the past few days. The CMF suggests increased capital inflows, while the RSI indicates rising buying pressure.

SHIB Potential Rally Based On Fib Retracement, Market Conditions

To analyze the potential price movement of Shiba Inu, traders have utilized the Fibonacci retracement tool by placing it between the swing high of the first quarter (Q1) and the lows observed in December. This tool helps identify crucial levels based on the Fibonacci sequence.

If the current trend in SHIB continues and the overall macro environment conditions continue to improve, there is a possibility of a rally. This rally could lead SHIB to reach the 23.6% Fibonacci retracement level, which stands at approximately $0.00000967.

Fibonacci retracement levels are commonly used in technical analysis to identify potential support and resistance levels based on the historica...

Water drop ripple (Claudia Wollesen/Pixabay)

JP Morgan office (Matthew Foulds/Unsplash)

Dogecoin (DOGE) has been embarking on a relentless quest for a price surge in recent weeks. As the market witnessed a flurry of activity, an unexpected twist unfolded when an anonymous whale made a significant decisionto sell a portion of their coveted meme coins. 

In a move that raised eyebrows, one of these hefty Dogecoin holdings found its way to crypto exchange Binance, setting the stage for intrigue and speculation. 

This interesting development came at a time when Dogecoin was fiercely determined to regain its footing and recoup some of the losses it had endured in recent weeks.

Dogecoin Whales Make Waves: Massive DOGE Transfers Raise Eyebrows

In a series of transactions, the Dogecoin community has been abuzz with news of substantial transfers involving the popular meme-inspired cryptocurrency. Crypto platform @DogeWhaleAlert, known for tracking large DOGE transfers on Twitter, has recently reported multiple colossal movements of DOGE across wallets, with a cumulative total exceeding 100 million DOGE.

14,835,380 $DOGE ($1,103,737 USD) was transferred from multiple wallets to a #Binance wallet.

Fee: 1.00 ($0.07 USD)

Tx: https://t.co/4lBCExiwYT#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews

ogecoin Whale Alert (@DogeWhaleAlert) May 17, 2023

Among the notable transactions, one of the largest transfers involved a staggering 14,835,380 DOGE, making its way to Binance. On the...

My end-of-week morning train WFH reads:

Will AI Fix Work? The pace of work is outpacing our ability to keep up. AI is poised to create a whole new way of working. (Microsoft)

Why Are Americans So Negative About the Economy? There are now huge gaps between what people say about the economy and both what the data says and what they say about their own experience. And we have some new information on what lies behind these gaps. (New York Times) see also Is Partisanship Driving Consumer Sentiment? Does it make sense that current sentiment readings are worse than the 1987 Crash, 9/11 Terrorist Attacks, Dotcom implosion, Great Financial Crisis, and the Pandemic Panic? (The Big Picture)

RIP: A Dozen Things Ive Learned from Sam Zell about Investing and Business. The founder and chairman of Equity Group Investments passed away at 81; he started in the real estate business but owned a range of businesses. His nickname is the Grave Dancer since he is often a distressed asset investor. (25iq)

Crypto: New. Fraud: Old. When you democratize finance, you get the good and the bad. (Vox)

New York City May Be Sinking Under the Weight of Its Skyscrapers: A scientific journal suggests that the citys 1.68 trillion pounds of buildings are causing the city to descend, in some neighborhoods faster than others. (Architectural Digest)

Is Britain Finally Ready To Admit Brexit Was a (Catastrophic) Mistake? Britains Self Inflicted Catastrophe Is Turning Out.Exactly Like We All Warned It Would (Eudaimonia)

From his new home in Austin, legendary VC Bill Gurley opens up about why he stepped back from Benchmark and his next act. Gurley says his portfolio companies, which include HackerOne, Nextdoor, GoodEggs, and Solv, require a lot more of his attention these days in the current environment, and meetings are taking up a lot of his time. But hes da...

The stablecoins with the largest market cap are pegged to the U.S. dollar, so what risk does de-dollarization pose to stablecoin users?

Pepperdine University professor Beau Brannan believes that NFTs could allow verification for individual courses and give more insight into college degrees.

Backed by industry heavyweights; this new blockchain game aims to get a foothold in the competitive arena.

Hong Kong (Shutterstock)

Bitcoin bulls fail to stem fresh losses, with BTC price abandoning prior strength and opportunistic whales manipulating the arena with liquidity.

A Litecoin sticker near the Hotel Europa in Davos, Switzerland. (Nikhilesh De/CoinDesk)

An internal document from the tech giant said that while it develops its own AI technology, employee usage of outside AI chatbots will be restricted.

The legislation would oblige exchanges to maintain reserves in an amount sufficient to fulfill all obligations to customers.

(Opera)

Bitcoin (Unsplash)

ASX has abandoned its software rebuild using blockchain technology to explore more conventional options.

Bitcoin (BTC) shrimp investors, affectionately dubbed the underdogs of the cryptocurrency world, are making waves in the market as they steadily accumulate the digital asset at an unprecedented rate. 

These smaller investors, often overlooked in favor of institutional giants, have recently reached a significant milestone, with the total supply of Bitcoin held by them surging to an all-time high of 1.31 million coins. 

This surge not only highlights the growing influence of retail investors in the volatile world of cryptocurrencies but also underscores their determination to ride the Bitcoin wave alongside their more affluent counterparts.

The Rise Of Bitcoin Shrimp Investors

According to data analytics firm Glassnode, these shrimp investors have surged to an all-time high (ATH) of 1.31 million coins. The continuous rise in their holdings highlights their growing influence and raises intriguing questions about the evolving dynamics within the Bitcoin ecosystem.

The #Bitcoin supply held by Shrimp Entities (<1 BTC) continues to relentlessly rise, expanding to an ATH of 1.31M coins.

The cohort is currently experiencing a significant expansion of +26K coins per month, with only 202 (3.9%) trading days recording a larger monthly growth. pic.twitter.com/Fa2QCHxZPO

glassnode (@glassnode) May 18, 2023

The data further reveals that shrimp investors are adding an average of approximately 26,000 Bitcoins to their cumulative holdings each month. This significant expansion is worth noting, considering that only 3.9% of trading days, equivalent to 202 days, have witnessed a larger monthly growth rate. 

These statistics underline the sustained interest in Bitcoin among retail investors, who remain undeterred by its well-known price volatility.

The Shrimp Investor Effect On BTC Price Dynamics

Bitcoins price, as reported by CoinGecko, currently stands at $26,914, reflecting a slight 1.1% decline over the past 24 hours, while the cryptocurrency was up 1.4% over the last seven days.

...

Bittrex Global CEO Oliver Linch believes crypto conferences wont exist in five to 10 years because crypto will become just a part of traditional finance.

Australian crypto exchanges report no problems with their payment providers, but the lack of local laws means more debanking incidents cant be ruled out.

The Web3 industry offers a diverse range of services, creating a dynamic landscape for individuals. A notable development in this space is the recent partnership announcement by Horizon, the creators of Sequence, aimed at redefining Web3 infrastructure.

This collaboration has had a significant impact, particularly on Polygons governance token MATIC, which experienced a notable increase of nearly 3% within the past 24 hours. This bolstering of the infrastructure signifies a positive step forward for the Web3 ecosystem.

This development came a day after Polygons blog post detailing the release of the v0.9 Testnet for Polygons Supernets. Once the final release of Supernets is launched, this partnership will surely affect the dominance of Polygon in the Web3 space. 

Web3: Scalability, Seamlessness For Developers On Polygon

The seamless integration of Sequences smart wallet and infrastructure stack on Polygon Supernets will pull business enterprises into the ecosystem. Polygon Supernets are custom-built blockchains for specific apps. The most important of these customizations is a custom blockspace, ensuring that the user experience isnt affected by bumps in activity on-chain. 

Sequences all-in-one development stack is the main attraction for both developers and investors. It is a complete package, covering tokens and NFTs to SDKs, the stack will fuel on-chain development as the release of Polygon Supernets nears. 

To further push growth, both Polygon and Sequence will offer credits to incentivize developers to build on the platform. In doing so, the strategic alliance will have a strong effect on how quickly the Web3 infrastructure will improve. 

.@Antimet...

Tether and Circle have been leading lobbying efforts among stablecoin issuers as they push for legislation and regulations for stablecoins.

While it is currently only available in the United States, a full global rollout could see more than a billion users access to the official app on iOS.

0.00010 BTC = 2.69 USD
1.00 USD = 0.00004 BTC
Converter

Ethereum price is struggling below the $1,840 resistance against the US Dollar. ETH could decline heavily if there is a clear move below the $1,780 support.

• Ethereum is currently facing many hurdles near the $1,840 resistance zone.
• The price is trading below $1,820 and the 100-hourly Simple Moving Average.
• There is a major bearish trend line forming with resistance near $1,825 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it clears the $1,825 and $1,840 resistance levels.

Ethereum Price Faces Uphill Task

Ethereums price remained in a bearish zone below the $1,840 zone. ETH started a fresh decline below the $1,800 level and showed a few bearish signs, similar to Bitcoin.

The price even declined below the $1,780 level. A low is formed near $1,772 and the price is now correcting losses. There was a move above the $1,800 level. The price cleared the 50% Fib retracement level of the downward move from the $1,834 swing high to the   $1,772 low.

Ether is now trading above $1,820 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,825 on the hourly chart of ETH/USD.

Immediate resistance is near the $1,820 level. It is close to the 61.8% Fib retracement level of the downward move from the $1,834 swing high to the $1,772 low. The next resistance sits near $1,825 and the trend line, above which Ethereum could rise toward $1,820.

Source: ETHUSD on TradingView.com

If there is a move above the $1,840 resistance level, the price might start a decent increase toward the $1,920 level. Any more gains above the $1,920 resis...

The Chamber of Digital Commerce has urged Congress to set up a Digital Asset and Blockchain Technology Solarium Commission to develop crypto regulation.

(Mohamed Hassan/Pixabay)

Bitcoin price is struggling below $27,500. BTC is now at risk of a downside break unless there is a close above the $27,500 resistance.

• Bitcoin started another decline and traded below the $26,800 level.
• The price is trading below $27,200 and the 100 hourly Simple moving average.
• There is a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh rally if it clears the $27,320 and $27,500 resistance levels.

Bitcoin Price Faces Resistance

Bitcoin price started a fresh decline below the $27,200 level. BTC even traded below the $26,550 support zone to set a new weekly low.

A low is formed near $26,345 and the price is now attempting a fresh increase. There was a move above the 23.6% Fib retracement level of the recent decline from the $27,492 swing high to the $26,345 low. It is now trading below $27,200 and the 100 hourly Simple moving average.

There is also a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC/USD pair. Bitcoin price is now struggling to clear the $27,000 resistance.

It is facing barriers near the 50% Fib retracement level of the recent decline from the $27,492 swing high to the $26,345 low. The next major resistance is near the $27,320 level and the trend line. A close above the $27,320 resistance might reduce selling pressure.

Source: BTCUSD on TradingView.com

The next key resistance is near $27,550, above which the price might gain bullish momentum and test the $28,000 resistance. Any more gains might send the price toward the $28,500 level.

Fresh Decline in BTC?...

The platform was charging investors exorbitant and undisclosed fees," with one user charged a total of $51,000 over just 13 months, according to the New York attorney general.

FTX lawyers want to claw back $243.7 million from Embed insiders and executives, claiming its former leadership paid a wildly inflated price for the stock-trading platform.

Cuscal, the company that handles the Australian dollar on- and off-ramping for the exchange, declined to comment specifically on why it decided to pull support for Binance Australia.

Mastercard and Visa join Hong Kongs CBDC pilot, new installment in Justin Suns Huobi soap opera, and a GameFi token pumps on no news.

Ledgers latest update aimed at making private seed phrases on its wallets recoverable was simply an attempt to innovate and improve user security.

The worlds second-ever CBDC has yet to reach 1% of Nigerias population, according to the IMF assessment.

(Mathieu Stern/Unsplash)

The Bitcoin Defense Legal Funds chief legal officer spoke out against an extraordinarily dangerous lawsuit initiated by Craig Wright, a person who claims to be Bitcoin creator Satoshi Nakamoto.

The MATIC price recently broke above a key resistance level, indicating a positive development. However, its price appreciation over the past week has been modest, with only a 2% increase. MATIC has remained close to a critical support line on its daily chart despite the breakout.

The technical outlook suggests that recovery might take some time as the bears dominate the price. Both demand and accumulation have decreased in the daily timeframe.

While MATIC currently sits above an important resistance, the absence of buyer support could lead to a significant loss in value before any recovery occurs on the daily chart.

If the bears exert further pressure, MATIC will likely resume sideways trading, fluctuating between $0.81 and $0.84. The uncertainty in the Bitcoin price movement, as it fluctuates from $27,000 and retraces from that level, has impacted altcoins, weakening their respective price action. The MATIC market capitalization has fallen, indicating a higher level of selling activity than buying activity.

MATIC Price Analysis: One-Day Chart

At the time of writing, MATIC was trading at $0.86. It successfully surpassed the $0.84 resistance level in the short term, but buyer sentiment remained weak. The coins next significant resistance is $0.87, and breaching this level could initiate a recovery trend.

However, if sellers persist, the altcoin could drop toward $0.81 and potentially below $0.80. The key for the bulls to regain control of the price lies in MATIC, staying above $0.86 in the upcoming trading sessions. The trading volume of MATIC in the last session was low, indicating a lack of buying strength.

Technical Analysis

Ledger Wallet (Shutterstock)

Developers say third-party apps cant access Ledger users keys without the device owners consent.

On stage at the Bitcoin 2023 conference, Brink announced a matching campaign for donations from Bitcoin mining firm Marathon Digital Holdings to support the work of Bitcoin Core developers. Marathon will match donations made to Brink on a two-for-one basis for the duration of the conference, which ends on May 20, and then match donations one for one through the end of the year, up to $1 million total.

Were going to match dollar for dollar $500,000-worth of donations that Brink receives for Core developers. More importantly, we will donate two-for-one if you donate money during this conference, said Fred Thiel, Marathons CEO. So, if you believe in the importance of supporting Core development efforts then I strongly urge you (to) donate 50 cents, $1, whatever you can during the conference.

By committing to match all third-party donations up to an aggregate of $500,000 until December 31, 2023, Marathon hopes to advance Brinks support for the developers who maintain and upgrade Bitcoins code. Since 2020, Brink has supported numerous developers in their work to make Bitcon more accessible and advanced through grants, mentorship and education, including former lead maintainer Marco Falke, Lightning Network white paper author Tadge Dryja and Bitcoin Core PR Review Clubs Gloria Zhao.

We have nine developers in five different countries that are all independent developers funded by Brink, explained Mike Schmidt, the executive director of Brink. I think we would all agree that we would want this Bitcoin software thats powering all of this innovation on top to be better reviewed, better tested, better maintained, easier to run and more performant. So thats why at Brink we fund grantees that are spending upwards of 50% of their time on testing and reviewing the Bitcoin Core code, proposing changes to the Core codebase and basically making that software more secure.

Donations made to Brink through its website are now eligible for the match. Thiel framed the campaign as part of Marathons larger commitment to securing the Bitcoin network as a significant contributor of hash rate, the computing power that ensures Bitcoins immutability.

We believe that its the most secure protocol out there and we think we and the rest of the industry should do everything they can to support the developers and really foment as much activity in the space as possible, Thiel said. 

IBEX Mercado, a bitcoin Lightning payment service provider, has announced a new partnership with Grupo Salinas, one of the largest corporate conglomerates in Mexico.

Over four million Mexicans can now pay with bitcoin for their cable, internet, and phone service, IBEXs CEO Jose Lemus said on stage as he announced the partnership. With this partnership, were opening the doors to every bitcoin and Lightning company and financial tech company that wants to leverage Lightning technology [we will be] rolling out new technology with Grupo Salinas that will enable mexicans to pay their groceries with bitcoin, electronics and to receive remittances. Lemus explained his excitement about the announcement, saying that this is the tip of the iceberg of what will go on in Mexico.

The collaboration signifies a major step in Mexico's adoption of bitcoin and Lightning. In addition, the integration of Lightning payments via IBEX with Total Play opens up new possibilities for fast and efficient transactions for Total Play customers.

The true value of this technology is not about paying for a cup of coffee in a different way, Lemus said. In a world where were going to have increasing digitization of our products and services, we need better payment technology we did not have a good enough payments technology but now we do, with Lightning.

Integration of bitcoin Lightning in Grupo Salinas products and services via IBEX can place Mexico at the forefront of the digital revolution, providing citizens with a secure, modern and efficient payment option.

Whampoa Group started its digital asset arm in 2021 and has invested in a $500 million Binance Labs fund along with TikTok parent ByteDance.

Scene from Bitcoin 2023 in Miami. (Frederick Munawa)

Zuoxing Yang, Founder and CEO of MicroBT (MicroBT/Twitter)

MicroBT, the Bitcoin ASIC manufacturer behind the WhatsMiner line of ASIC mining machines, unveiled its latest offerings at Bitcoin 2023 in Miami Beach. Dr. Zuoxing Yang, the founder and CEO of MicroBT, highlighted the importance of "High density, low noise, low failure rate and low maintenance ASIC machines bringing bitcoin mining to a new era.

The talk started with a roll of film focusing on the energy crisis, green energy and the role that bitcoin can play as a solution. It then posed the question: What matters more, mining or surviving?

I never stop thinking of better power solutions for bitcoin mining, Dr. Yang said.

MicroBT introduced three new models of the WhatsMiner M50 series: the air-cooled M50S++, the hydro-cooled M53S++, and the immersion cooled M56S++. These models offer impressive computing power ranging from 150 to 320 terahash/second (TH/s) respectively, with power efficiencies of 22 joules per terahash (J/TH).

Dr. Yang highlighted the heat collection capabilities of the mining rigs, which can be utilized for various purposes, such as space heating and industrial processes. He mentioned that the hydro-cooling mining rigs can reach outlet water temperatures of over 70 (158), enabling 2.4MW of power for a 40-foot container. Additionally, the immersion-cooling solution requires only 10L of oil per miner, demonstrating its efficiency.

He emphasized that every M56 miner only requires as low as 10L oil with our specified tank.

MicroBT's focus since its inception in 2016 has been the development of high-efficiency Bitcoin mining rigs. The company aims to support miners in adhering to Bitcoin's decentralization principles while prioritizing network stability. Dr. Yang emphasized MicroBT's commitment to working with partners to promote sustainable mining practices, zero-carbon emissions and social responsibility.

At the Bitcoin Builders Conference, Daniel Fogg from IOV Labs spoke with Cointelegraph about how emerging markets are shaping the future of the crypto space.

New York Attorney General Letitia James (Monica Schipper/Getty Images)

BitMEX, a leading bitcoin derivatives exchange, has announced that it will be sending the first physical bitcoin to the Moon in partnership with Astrobotic Technology Inc. and Bitcoin Magazine. The rocket carrying a physical Bitcoin wallet is scheduled to launch from the Kennedy Space Center this summer, marking a significant milestone for both space exploration and the bitcoin industry.

The bitcoin, engraved with a public address and private key, is loaded with 1 BTC and will become the first-ever financial asset sent to space. This endeavor symbolizes the exploration of Bitcoin's use cases beyond Earth and opens up possibilities for future interaction with the token. Stephan Lutz, Acting CEO and Group CFO at BitMEX, expressed pride in the achievement, stating, "This is not just an achievement for BitMEX, but a breakthrough in human history."

According to a press release sent to Bitcoin Magazine, the mission has undergone rigorous testing and preparation to ensure the Bitcoin wallet's readiness for space flight.

In addition to the physical bitcoin, the text of the Genesis Block, the first block of Bitcoin ever mined, will be carried to the Moon as a homage to Satoshi's protocol. The Genesis Block will be displayed on a metal plate with raw hex data and a hologram of the Bitcoin Magazine logo.

A replica of the coin and Genesis Block metal plate, placed on a "moon rock" will be auctioned in partnership with Bitcoin Magazine at Bitcoin 2023. In addition, a limited edition series of commemorative coins and Ordinals will be auctioned closer to the launch date.

(Dean Hochman/Flickr)

Coinbase CEO Brian Armstrong (Coinbase)

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Users can manage and customize the entire life cycle of the CBDC, including minting, distribution, redemption and destruction. (Ripple Labs)

(Danny Nelson/CoinDesk)

Karachi, Pakistan in 2021 (Arman Sabir/Pixabay)

Lava, a financial technology company, has unveiled a new self-custody wallet and decentralized finance (DeFi) platform on Bitcoin. Utilizing Lava's loan protocol, users can borrow stablecoins against native bitcoin, eliminating the risks associated with bridge hacks and custodian rehypothecation.

CEO Shehzan Maredia highlighted the advantages of Lava's borrowing mechanism, stating, "With Lava, people can borrow transparently without rehypothecation risk and without relying on bridges or custodians. Users won't have to trust their counterparty and can borrow using a system that gives users cryptographic assurance that the rules of their contracts will be honored." Lava achieves this through invisible smart contracts called discreet log contracts (DLCs), which ensure collateral integrity and enable programmable loan initiation and repayment without the need for intermediaries.

According to a press release sent to Bitcoin Magazine, Lava wallet aims to empower individuals who face challenges with traditional banking, offering innovative security solutions and safety checks to prevent transaction errors. Maredia said that he envisions bitcoin and dollars as the two most crucial assets of the coming decade. Lava's goal, the press release stated, is to create a bitcoin and dollar-centric financial experience that grants users true financial freedom, enabling them to take control of their finances and simplify money management.

In an interview, Maredia expressed gratitude to his cofounder, team, investors, and supporters, emphasizing that this is only the beginning for Lava. The company said it intends to continue advancing its mission of making finance sovereign and simple.

Lava's self-custody wallet is currently available on mobile platforms, including iOS and Android, with plans for additional interfaces in the future.

The company said it intends to differentiate itself from other self-custody wallets through its user-centered financial utility experience including offering borrowing against bitcoin, direct purchases of bitcoin and stablecoins, seamless bank account transfers and simplified transactions. Security is a top priority Lava stated that there will be future enhancements like collaborative custody and cold wallet integration.

Disclosure: Lava is a portfolio company of BTC Inc., the parent company of Bitcoin Magazine.

Mangroves can store four times as much carbon as other ainforests, according to the WWF. (Jonathan Wilkins/Wikimedia Commons)

Unsplash, Kanchanara)

In a panel discussion at the Bitcoin 2023 conference moderated by CNBC technology reporter MacKenzie Sigalos, leaders from some of the biggest businesses building services based on the Lightning Network discussed the opportunities and challenges for Bitcoins payments-focused second layer protocol.

The discussion, titled Building Lightning-Native Companies, featured Elizabeth Stark, the CEO of software development firm Lightning Labs; David Marcus, the CEO of Lightspark, a firm focused on making Lightning adoption easier and more accessible; and Miles Suter, the Bitcoin product lead at Cash App, a mobile payment platform that introduced Lighting payments to its more than 40 million users in 2022.

"We've really reached the point right now where Lightning is maturing and we're seeing more and more adoption, Stark said, summarizing the momentum she has seen since she co-founded Lightning Labs in 2016. People are adopting the network because it is solving real problems for them."

By allowing peers to create closed payment channels between themselves, which are only settled on the underlying Bitcoin blockchain when closed, the Lightning Network enables bitcoin payments that can take place in seconds while still benefiting from the security of Bitcoins base ledger. But as this second layer is relatively young, adoption represents just a fraction of the larger digital payments volume across the world.

The panelists highlighted the importance of developing products and services that make Lightning easier to use and solve some of its outstanding issues, like the networks relatively-low liquidity and limited number of nodes.

A channel-based payment network is still very complicated, Sigalos pointed out. Theres not a ton of liquidity sitting on the nodes right now for instance.

In response, Suter noted that many of the challenges in making Lightning more accessible derive from Bitcoins most important qualities.

"It's hard to develop on Bitcoin, he explained. We see that everyday... but it's an intentional decision because we believe that's what allows it to maintain a very minimal attack surface.

But the panelists all agreed that when there are significant problems for Lightning to solve, like in countries where it can help people access the dollar or enable more efficient cross-border transactions, adoption is evident....

The debate is raging inside Hector Network ( / Getty Images)

Ethereum (ETH) recently witnessed a remarkable event that sent ripples of excitement through the crypto community. An Ethereum whale emerged from a prolonged slumber, making a substantial return to the scene after remaining inactive for more than two years. 

A whale is a term used to describe individuals or entities holding significant amounts of cryptocurrency. 

The identity of this prominent investor has been revealed as an early participant in Ethereums groundbreaking initial coin offering (ICO), which played a pivotal role in the platforms inception.

Ethereum Whale Resurfaces With 4,032 ETH Stake

The Ethereum whale, who played a significant role in Ethereums early days, recently made headlines by staking an impressive 4,032 ETH, valued at approximately $7.4 million, according to Lookonchain, a reputable blockchain analytics platform.

A whale that had been dormant for 2.4 years created a contract 3 hrs ago and staked 4,032 $ETH ($7.4M).

The whale is an Ethereum ICO participant and received 60K $ETH at Genesis.https://t.co/qmVlopOXke pic.twitter.com/eUVWJHyXAJ

Lookonchain (@lookonchain) May 18, 2023

The whales resurgence, occurring just hours ago, marks its first visible activity in a span of approximately two and a half years. This sudden reentry into the Ethereum ecosystem has ignited a surge of excitement and conjecture among crypto enthusiasts. 

The whales Ethereum address was even shared on Lookonchains Twitter page, further fueling the intrigue surrounding this event.

ETH Current Price And Whales ICO Participation

The current...

Toncoin is trading in the red today, losing some of its price gains in the past week. Its 24-hour trading volume is down over 3% at press time, indirectly contributing to todays price slump. 

TON traded at the $2 price level since January 1, 2023, slowly accumulating its gains. However, the bears forced a price decline to the $1.9 price level on May 9, 2023, where the asset trades today. 

TONs Movement Suggests A Bearish Trend Ahead

TON is in a downtrend, forming a red candle. It has dropped below its 50-day Simple Moving Average (SMA), confirming the bearish trend. Also, TONs Moving average Convergence/Divergence (MACD) is below its signal line and shows a negative value, which is also bearish sentiment.

The Relative Strength Index (RSI) is 42.65, dropping out of the neutral zone as it approaches the oversold region 30. The indicator is also moving downwards, reflecting the pressure from the bears.

TONs price will likely decline till it rests on its nearest support level and the bulls rally again. Moreover, TONs 200-day SMA shows a long-term bullish sentiment.

TON is just above the $1.8422 support as the bears mount pressure. A decline below this level will cause a price drop to $1.7525, its next support level. The bearish pressure at the $1.9918 resistance led to the current price drop for the asset. TON will likely continue its downtrend in the short term. 

Recent Development Trends On Toncoin Network Likely To Influence Its Price

The Ton Foundation announced the latest network developments in a blog post for community members. These developments could lead to a positive price action soon. 

Ton Wallet For KaiOS: Ton Wallet is currently available for KaiOS users. KaiOS is the worlds third largest operating system (OS), functional in over 160 million devices. This wallet enables users w...

Funding (Shutterstock)

Italian officials are setting aside $33 million to enhance the development of digital skills for workers at risk termination due to automation and AI.