Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
Market Capitalization:3 653 635 682 952,3 USD
Vol. in 24 hours:201 738 409 298,04 USD
Dominance:BTC 56,64%
ETH:12,73%
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CRYPTO NEWS

Bitcoin's price hovers around $62,000 as the Federal Reserve tightens its monetary policy and inflation data looms. Attention remains on the upcoming Consumer Price Index (CPI) report, which could influence market sentiment.

**Market Update: Wednesday**Bitcoin continued its ascent on Wednesday, trading at $61,949, up 0.65%. The Federal Reserve's hawkish stance on interest rates cast a shadow over its price outlook, as concerns over inflation and higher borrowing costs dampened investor sentiment towards cryptocurrencies.The recent Producer Price Index (PPI) report, which met expectations, further solidified the expectation of prolonged high interest rates. Market participants will closely monitor the upcoming Consumer Price Index (CPI) release for additional insights.The Federal Reserve's hawkish tone and the favorable PPI data have significantly influenced Bitcoin's price trajectory. This stance, coupled with inflationary concerns, has resulted in diminished investor appetite for high-risk assets like cryptocurrencies.**US Economic Data Impacts Bitcoin**Economic data released on Wednesday revealed mixed signals. The Core Consumer Price Index (CPI) rose by 0.3% month-over-month, down from the previous month, while Core Retail Sales grew by 0.2%, significantly lower than the prior 1.1%. These figures suggest a slight cooling of inflation pressures but maintained slightly elevated levels.**El Salvador's Sustainable Bitcoin Mining**El Salvador has garnered attention for its innovative and environmentally friendly approach to Bitcoin mining. Utilizing volcanic geothermal energy, the country has mined approximately 474 bitcoins while consuming just 1.5 megawatts of power from its geothermal power plant. This sustainable model aligns with the government's commitment to responsible energy practices.**Technical Analysis: Bullish Signals for Bitcoin**Technical indicators suggest that the bullish momentum in Bitcoin remains intact. The Relative Strength Index (RSI) stands at 50, indicating balanced momentum, while the 50-day Exponential Moving Average (EMA) provides support at $61,626. The upward trendline around $61,630 further reinforces the bullish outlook.**Presale Opportunity: $99BTC Tokens**A rare presale opportunity allows investors to secure $99BTC tokens at a competitive price of $0.00103 each. These tokens provide access to premium content, exclusive perks, and immediate staking opportunities within the community.

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CRYPTO NEWS

Galaxy Digital founder Michael Novogratz believes Bitcoin is likely to remain within a narrow trading range for the time being.

Michael Novogratz, the founder of Galaxy Digital Holdings, a leading digital-asset financial services firm, anticipates that Bitcoin will maintain its trading range within a relatively narrow band in the current quarter. During a conference call following the release of Galaxy Digital’s first-quarter results, Novogratz expressed his conviction that the crypto market is currently in a consolidation phase. He suggested that Bitcoin, Ethereum, and other prominent cryptocurrencies like Solana are likely to stabilize as the adoption of cryptocurrencies within traditional finance continues to expand.Specifically, Novogratz predicts that Bitcoin will remain within the price range of approximately $55,000 to $75,000 until significant market events or conditions trigger a price surge. The cryptocurrency market has experienced a period of stagnation following the remarkable bull run witnessed in the preceding two quarters. This surge was primarily driven by the launch of spot US Bitcoin exchange-traded funds and the Bitcoin halving event, which reduced the supply of newly minted tokens. However, the surge in optimism surrounding interest rate cuts by the Federal Reserve diminished due to consistently strong economic indicators, leading to a downward trend in Bitcoin’s price.Novogratz highlighted the tailwinds experienced in the fourth quarter of the previous year and the first quarter of the current year. He believes that the current trading range is likely to persist until either A) the Federal Reserve implements interest rate cuts as the economy softens or B) the upcoming election brings clarity to the regulatory landscape surrounding cryptocurrencies.On Tuesday, Bitcoin experienced a 2.7% decline, with its price dropping to $61,389. Since reaching its all-time high of $73,797 on March 14, the cryptocurrency has experienced a 16% decrease.Galaxy Digital, headquartered in New York, reported remarkable first-quarter results, with net income more than tripling to $421.7 million due to the robust performance of digital assets earlier this year. Novogratz emphasized the growing adoption of cryptocurrencies within traditional finance, citing heightened interest and activities such as lending. He also noted that lenders are now willing to offer unsecured loans of cryptocurrencies for extended periods, a significant shift from just six months ago.Following Novogratz’s remarks, shares of Galaxy Digital surged by around 1% to $9.28 as of 10:15 a.m. in New York. The stock has surged by approximately 23% so far this year, reflecting the positive sentiment surrounding the company.Technical analyst Rekt Capital believes that Bitcoin has emerged from the post-halving “danger zone” and entered an accumulation phase, as evidenced by diminishing selling pressure. This assessment is supported by a recent post on X by the popular crypto trader.

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CRYPTO NEWS

North Korea utilized the Tornado Cash platform to launder an estimated $147.5 million in stolen cryptocurrency.

United Nations sanctions monitors have revealed North Korea's involvement in laundering $147.5 million in stolen cryptocurrency from an exchange. According to a Reuters report, the perpetrators allegedly laundered the stolen crypto through the Tornado Cash crypto platform in March.The international body's sanction monitors submitted a confidential document to the U.N. Security Council sanctions committee on Friday, detailing their investigation into 97 cyberattacks on crypto firms attributed to North Korean suspects over the past seven years, with an estimated value of $3.6 billion.Additionally, this year alone, North Korea is suspected of being behind 11 cryptocurrency thefts valued at $54.7 million. The document suggests that these thefts may have been carried out by inadvertently hired IT workers in small crypto-related companies.One of the major attacks involved the theft of $147.5 million worth of cryptocurrency from the HTX crypto exchange in 2023, which was subsequently laundered in March.Blockchain forensics firm Elliptic confirmed that North Korea's Lazarus group was involved in stealing $112.5 million in cryptocurrency from HTX exchange and its cross-chain bridge – HECO Bridge. Over $100 million from this hack has been laundered through Tornado Cash since March 13, 2024.The US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash on August 8, 2022, accusing it of facilitating the laundering of $7 billion in cryptocurrency since 2019. The platform faced international scrutiny after its developer, Alexey Pertsev, was accused of money laundering and was subsequently detained in the Netherlands in August 2022 following the US government's blacklist of Tornado Cash. On Tuesday, Pertsev was convicted of money laundering by a Dutch judge at the s-Hertogenbosch court.

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CRYPTO NEWS

Sonne Finance experienced a $20 million exploit after a hacker gained unauthorized access to sensitive financial data. The hacker made off with the funds and subsequently vanished.

Following a devastating hack that drained $20 million in cryptocurrencies, lending protocol Sonne Finance was forced to suspend operations. Around 10:30 pm UTC on May 14, security firm Cyvers detected an ongoing attack on Sonne Finance’s USD and Wrapped Ether (WETH) contracts, initially stealing just $3 in cryptocurrency. However, the protocol was not alerted until 25 minutes later, by which time the hackers had already made off with $20 million worth of WETH, Velo (VELO), soVELO, and Wrapped USDC (USDC.e).On May 15 at 12:11 a.m. UTC, Sonne Finance made a brief announcement on their platform, stating that all markets on Optimism had been temporarily halted and those on Base were safe. They promised to provide further updates in due course. Subsequently, the protocol collaborated with Cyvers to investigate the incident further.Three hours after their initial announcement, Sonne Finance elaborated on the situation in a press release. The attack exploited a known donation attack vulnerability on Compound v2 forks. The protocol had previously implemented measures to mitigate this issue, including reducing collateral factors, adding collateral, and burning tokens. However, a recent proposal to integrate VELO markets was approved with transactions scheduled on a multi-sig wallet with a 2-day timelock. The exploit occurred when the timelock expired, allowing the hacker to execute transactions for market creation and adding collateral factors.Sonne Finance estimated that the hacker had made off with $20 million, but managed to recover $6.5 million by adding $100 worth of VELO to the markets. The protocol is actively pursuing measures to recover the stolen funds and is considering offering a bug bounty for information leading to their return. Typically, a 10% reward would be offered for identifying security vulnerabilities. However, it appears unlikely that the hacker will comply with this offer, as blockchain investigator PeckShield tracked them transferring $7.8 million to a new wallet address.The hacker then swapped 59 WBTC for approximately 1,185 Ether and 183,000 Dai, hinting at their intention to launder the stolen funds through a privacy protocol like Tornado Cash.Tornado Cash stands as an open-source cryptocurrency tumbler, also known as a “crypto mixer.” Designed to obscure the origins of transactions, it has gained popularity among hackers seeking to launder stolen funds. Notably, over $77 million in assets were processed through Tornado Cash contracts in October 2023. While initially intended for legitimate purposes, its widespread use in illicit activities has led to regulatory scrutiny.The United Nations sanctions monitors have identified North Korea as a major user of Tornado Cash for laundering stolen cryptocurrency, with an estimated $147.5 million in illicit funds laundered through the platform. Many high-profile crypto hacks have also utilized Tornado Cash for money laundering purposes. This has prompted the US Treasury to impose sanctions on the platform in August 2022, leading to charges of money laundering and sanctions violations for its founders a year later.While opinions within the crypto community diverge regarding the use of privacy tools, there is a consensus against persecuting developers solely for creating such applications. Despite a decline in crypto-related frauds and scams, it remains crucial for users to be well-informed about how to safeguard themselves from digital asset crime.

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CRYPTO NEWS

Since April, over a million new tokens have emerged on the blockchain, with Ethereum and Solana accounting for the majority.

The cryptocurrency market has witnessed the launch of over a million new tokens since the beginning of April. Ethereum and Solana have been at the forefront of this token frenzy, with Ethereum hosting over 370,000 new tokens and Solana boasting an impressive 640,000 new tokens, mostly consisting of memecoins, according to a Dune Analytics dashboard.Specifically, 372,642 new tokens have emerged on the Ethereum network since April 1. Notably, 88% of these tokens, amounting to 327,553, were launched on Coinbase's layer-2 blockchain Base. The surge in activity on this layer-2 network can be attributed to the burgeoning interest in memecoins, as users are drawn to the low-cost environment for creating such tokens.Coinbase director Conor Grogan has highlighted that the number of tokens created on Base within this short timeframe is double the total tokens created on Ethereum between 2015 and 2023. Simultaneously, Solana has witnessed an influx of 643,227 new tokens since April, with approximately 466,914 of them being memecoins, according to data from Step Finance. The popularity of memecoins on Solana is evident from dedicated dashboards tracking new tokens launched on the pump.fun platform.The proliferation of memecoins has sparked diverse reactions within the crypto community. Some argue that this abundance has negatively impacted the industry, leading to an increase in scams and rug pulls. Critics view the sheer number of memecoins as a diversion of funds from more legitimate projects, as scammers now hold real money that could have been invested in more promising endeavors. Additionally, the surge in new memecoins has raised concerns about spam and the use of sniper bots. These automated bots, designed to quickly acquire new memecoins in the hopes of profiting from potential breakthroughs, have been deemed detrimental to the ecosystem.Despite these criticisms and concerns, memecoins have proven to be a profitable narrative in the first quarter of the year. The surge in Solana meme coin presale scams has generated an astonishing $150 million in SOL from just 33 presales. While the allure of quick gains exists, analysts caution that many of these projects, often promoted by smaller accounts, are likely dubious or even scams. The lack of transparency and accountability within the meme coin space on Solana further enhances the risk for investors due to the prevalence of rug pulls and vanishing funds.

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CRYPTO NEWS

Former FTX executive Ryan Salame has expressed remorse and is seeking an 18-month sentence in exchange for cooperating with authorities.

Ryan Salame, a former FTX executive, who pleaded guilty to election fraud charges in September, has requested leniency from the court with an 18-month sentence. His attorneys argue for a lighter sentence, citing his cooperation with authorities and genuine remorse. During his time at FTX and Alameda, Salame was responsible for managing wire deposits and fiat currency conversions for customers. He was also involved in political contributions using Alameda funds and charitable initiatives in the Bahamas.In the filings, Salame’s attorneys emphasized that his role in the fraudulent activities was more operational than central. They claimed he had no knowledge of the conspiracies orchestrated by individuals at the heart of Alameda and FTX. Additionally, Salame did not steal from anyone or deceive customers. He reported the fraud to authorities in the Bahamas shortly after discovering it.His attorneys also addressed the negative media scrutiny surrounding FTX and its CEO, Sam Bankman-Fried, arguing that the constant criticism has already served as punishment for Salame. Caroline Ellison and Gary Wang, former executives of Alameda-FTX, have also pleaded guilty to charges and are seeking plea deals to avoid imprisonment.The court will consider Salame’s sentencing memorandum alongside other relevant factors before determining his sentence.Last month, Bankman-Fried filed to appeal his conviction and sentence for fraud and conspiracy charges. The disgraced crypto boss was convicted in November following a month-long trial and sentenced to 25 years in prison.The FTX bankruptcy estate has outlined its target to initiate repayments to customers by the end of 2024. The bankruptcy consists of two distinct processes: the Chapter 11 bankruptcy overseen by a Delaware court in the US and the official liquidation of FTX Digital, the Bahamas-based subsidiary of FTX. Both entities have agreed to collaborate, allowing creditors to submit their claims to either party while ensuring that no creditor receives less than their rightful value.

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CRYPTO NEWS

The provided text is not included in the prompt, so I am unable to rephrase it.

The Securities Commission Malaysia (SC), the country’s regulatory authority, has approved the trading of the Worldcoin (WLD) token on digital asset exchanges recognized by the SC. Malaysia-based digital business solutions provider Cuscapi announced the exciting news that its associate company MX Global had received the necessary approval on May 9th, paving the way for the trading of the WLD token.In March 2022, MX Global received an undisclosed equity investment from cryptocurrency exchange Binance. The token joins a growing list of 14 permitted digital assets allowed for trading within the country. Notable names among the permitted cryptos include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Polygon (MATIC), and Solana (SOL).The news of the approval comes a month after Worldcoin executives met with senior Malaysian officials to discuss the token’s strategic expansion. Leading developer Alex Blania, alongside OpenAI CEO Sam Altman, had a 30-minute virtual discussion via video conference prior to the physical meeting. During this conversation, they covered various aspects related to the rapid development of technology.The emergence of the Worldcoin project has sparked privacy concerns across international borders. In March, Portugal’s data oversight authority, CNPD, issued a directive instructing WLD to temporarily suspend biometric data collection for a period of 90 days. The CNPD expressed concerns regarding the potential risk to citizens’ data protection rights and demanded immediate action to mitigate any potential harm.However, a contrasting viewpoint has emerged from Ethereum co-founder Vitalik Buterin. He acknowledges the proactive measures taken by Worldcoin to safeguard user data privacy, praising the implementation of cryptographic measures by Sam Altman. Buterin believes that the team has diligently addressed privacy critiques.

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CRYPTO NEWS

El Salvador has mined 474 BTCs since 2021, and currently holds 5,750 BTCs.

El Salvador, which became the first nation to adopt Bitcoin (BTC) as legal tender, possesses the potential to hold 5,750 Bitcoins, according to a report from the Bitcoin Office. The Bitcoin Office, a government entity responsible for managing cryptocurrency-related projects, oversees El Salvador's Bitcoin dealings. As reported by Reuters, the nation has mined approximately 474 Bitcoins since 2021, utilizing geothermal power sourced from the Tecapa volcano. Data released on Tuesday revealed that the government's Bitcoin holdings are valued at over $354 million based on current market conditions. To monitor their Bitcoin Treasury, El Salvador launched a dedicated website on Tuesday. The nation's substantial Bitcoin wealth and website launch suggest a potential shift in El Salvador's financial landscape, leading to speculation about its future wealth status on a global scale. President Bukele confirmed that there are no plans to sell the country's vast Bitcoin holdings. Additionally, the government has installed 300 processors at the geothermal power plant to facilitate Bitcoin mining. The plant allocates 1.5 megawatts (MW) of its 102 MW production to cryptocurrency mining, leveraging renewable energy instead of polluting resources like coal or gas. The widespread adoption of Bitcoin mining in El Salvador appears to have strong government support, although the nation imports approximately one-fifth to one-quarter of its electricity to supplement its energy production needs. The remaining electricity is distributed among hydroelectric, geothermal, and fossil fuel-powered plants, with geothermal accounting for approximately a quarter of the country's energy due to its abundance of active volcanoes. As an industry predominantly reliant on coal-fired power plants, El Salvador stands out for prioritizing clean energy for its Bitcoin mining activities.

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CRYPTO NEWS

South Korean tax authorities have confiscated and liquidated digital assets valued at over $800,000 as part of an ongoing investigation into cryptocurrency tax evasion.

The National Tax Service (NTS), the primary tax authority in South Korea, announced the liquidation of frozen crypto assets valued at over $800,000. During a press conference held at their Seoul headquarters on May 14, officials displayed items confiscated during raids on prolific tax delinquents. In response to the burgeoning use of crypto for tax evasion, the NTS and its regional affiliates have intensified their crackdown on individuals who utilize crypto investments to conceal their income. These measures have resulted in the seizure and subsequent liquidation of digital assets belonging to numerous crypto holders throughout the nation. In the past five years, the NTS has reported implementing “forced collections” against 641 high-value and habitual tax evaders. According to their records, over $79 million worth of crypto assets had been frozen from tax offenders by the end of 2021. Following this, approximately $69 million in fines and outstanding tax payments were received from these individuals, leading to the unfreezing of their tokens. The NTS directly sold $800,000 worth of crypto from those who remained delinquent in their payments. This action suggests that the tax body currently holds digital assets valued in excess of $9 million. Should tax evaders fail to settle their obligations, the NTS is prepared to liquidate the entire $9 million.Furthermore, the NTS disclosed the confiscation of various assets belonging to tax delinquents, including valuable works of art, undisclosed inheritances, luxury cars, and prepaid golf course memberships. The tax body revealed that many of these delinquents maintained lavish lifestyles in expensive houses. Similar measures were implemented in the city of Hwaseong in March, where tax authorities confiscated crypto assets worth over $768,500 from tax offenders. Notably, a single individual was found to possess crypto assets worth approximately $567,000.

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CRYPTO NEWS

The text provided was not included in the prompt, so I am unable to rephrase it.

The highly anticipated play-to-earn game, Guild of Guardians, is now available globally on both the Google Play Store and the Apple App Store for mobile devices. This groundbreaking game empowers players to earn $GOG tokens, ERC-20 tokens that can be utilized across the Guild of Guardians ecosystem and its vast universe. Play-to-earn games provide players with the unique opportunity to convert their rewards into tangible cash.Immmutable Games, the game's developers, revealed that over 1 million players have pre-registered for the mobile release. To celebrate this milestone, they have released a cinematic launch trailer and a behind-the-scenes look at the development process.Guild of Guardians, alongside Pixelmon, Metalcore, and My Pet Hooligan, is proudly supported by the Inevitable Games Fund. This $100 million fund, spearheaded by Australian venture capital firm King River Capital, blockchain gaming company Immutable, and Polygon Labs, shows unwavering belief in the potential of play-to-earn games.Within the enchanting realm of Elderym, players of Guild of Guardians must rise to the challenge as the world's final hope. Armed with their loyal team of Guardians, they must embark on a perilous virtual journey to conquer the encroaching darkness.The official Guild of Guardians website reveals that the $GOG tokens can be used to mint gaming NFTs, thereby unlocking NFT ownership and access to various in-game advantages. These coveted NFTs can be traded on the NFT marketplace using the $GOG token. A staggering 20% of the marketplace fees are automatically converted into $GOG and distributed as passive rewards to token holders. The developers have plans to implement decentralized governance in the future, empowering token holders to participate in significant game decisions.The Guild of Guardians tokens can be purchased on popular platforms such as OKX and Sushiswap.Recent years have witnessed a surge in funding for Web3 gaming projects. Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) recently announced their commitment to invest approximately $30 million in gaming startups this year. General Partner Andrew Chen shared this news on the social media platform X, revealing that applications for this funding opportunity are open until May 19th, with shortlisted candidates to be notified at the end of July.

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CRYPTO NEWS

Here are the top crypto gainers today on DEXScreener: RWIF, DUMB, GME.

Market sentiment turned bearish on Tuesday as traders grappled with a surprisingly strong US Producer Price Index report and remarks from Federal Reserve Chair Jerome Powell. Bitcoin and Ether dipped by approximately 2% over the past 24 hours, according to CoinMarketCap. Attention in the crypto space has shifted towards Wednesday's release of US Consumer Price Index and Retail Sales figures, which could potentially influence expectations regarding future Federal Reserve rate adjustments.The decline in Bitcoin and Ether's prices is attributed to the sustained strength of the US economy throughout the year. Traders are hoping for evidence that the recent surge in inflation will abate. While a rebound is anticipated, major cryptocurrencies remain confined within their recent trading ranges, suggesting limited potential for significant price movements in the short term.Illiquid decentralized markets witnessed heightened activity this week due to the controversial return of GameStop icon Roaring Kitty. Numerous meme coins inspired by the 2021 meme stock craze have emerged in response.Among today's top gainers listed on decentralized exchanges, Roaring Kitty Wif Hat (RWIF), a combination of dogwifhat and Roaring Kitty, stands out. Since its inception, RWIF has surged by an astonishing 95,000% in the past 24 hours and boasts a market capitalization of $2.7 million. The coin has attracted 1,300 holders and over 250 Telegram members.Despite the excitement surrounding newly minted meme coins, traders should exercise caution, as many such tokens have proven to be fraudulent or pump-and-dumps. Another recently released Solana meme coin, DUMB MONEY, has experienced a remarkable 36,000% surge in value over the past day. The token's market capitalization approaches $900,000 and appears to be inspired by the perception of retail investors as "dumb money" in the meme stock phenomenon.The 2021 meme stock craze is often referenced as an example of "Dumb Money" triumphing over "smart money." While DUMB boasts $100,000 in locked liquidity, its legitimacy remains questionable. Notably, BNB traders have also ventured into the meme coin market with their own GameStop token.Investing in newly issued meme coins carries inherent risks. While some might achieve dramatic gains, the vast majority are likely to falter, leaving investors unable to recoup their investments. The rapid price fluctuations often trigger fear of missing out (FOMO), leading traders to neglect proper due diligence.As an alternative to directly investing in newly minted meme coins, traders can consider investing in presales. Such offerings provide investors with more time to assess the project's potential before committing capital. Experienced analysts at Cryptonews diligently monitor the presale market and maintain a list of promising presales for 2024.

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CRYPTO NEWS

Circle, a stablecoin issuer, is transitioning its legal operations from Ireland to the United States. The company will leave its current base in Ireland and establish its headquarters in the US.

Stablecoin issuer Circle has announced its intention to relocate its legal base from the Republic of Ireland to the United States. Bloomberg reported on Wednesday that the company had recently filed court paperwork to formally re-domicile. This move follows Circle submitting plans for an initial public offering (IPO) to the US Securities Regulator in January.The decision to choose the US as its new home may have unforeseen consequences for Circle, as it could potentially expose the company to a higher tax burden. Notably, many businesses have historically migrated to Ireland due to its business-friendly environment and low tax rates. Ireland's corporate tax rate of 12.5% is significantly lower than many other European nations.Launched in 2013, Circle has established itself as a prominent player in the cryptocurrency industry, primarily through the issuance and management of USDC, a stablecoin pegged to the US dollar. As of May 2024, USDC boasts a market capitalization of over $32 billion.Circle's core business revolves around the issuance and management of stablecoins, which are designed to provide stability and predictability in the volatile cryptocurrency market. This move aligns with Circle's previous failed attempt to go public through a special purpose acquisition company (SPAC) merger in 2021. The traditional IPO is still subject to regulatory approval, market conditions, and other relevant factors.In January, Circle announced plans to list USDC on the Celo network, a Layer-1 blockchain slowly evolving into an Ethereum Layer-2 scaling network. This collaboration aims to leverage Celo's strong mobile-centric user base in regions with high blockchain adoption rates.

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CRYPTO NEWS

Here's the rephrased text:What's Buzzing in Crypto?Stay up-to-date with the latest headlines and market movements in the crypto landscape with our daily digest. Discover the top stories and insights shaping the digital asset industry today.

**Get your daily digest of blockchain and crypto news today!**The global cryptocurrency market capitalization has climbed 1% over the past 24 hours and currently stands at $2.39 trillion. However, most of the top 100 coins remain in the red. Worldcoin witnessed the steepest decline, dropping 11.3% to $5.25. Other notable losers include Ethena and THORChain, down 9.3% and 9.1%, respectively.Among the green coins, PEPE emerged as the top performer, with a staggering 22% gain. FLOKI followed closely behind, with a 12% rise. Meme coins like WIF, DOGE, SHIB, and BONK also experienced notable gains.Out of the top 10 coins by market cap, only three witnessed price increases over the past day. Dogecoin led the way with a 6.5% gain, while Solana and XRP followed with 2.2% and 0.32% increases, respectively.While some coins experienced modest drops, Toncoin suffered the most significant decline, falling 2.7% to $7. Bitcoin and Ethereum also decreased slightly, shedding 0.5% and 1.1%, respectively.In other news, European fintech unicorn Bitpanda partnered with MarketVector Indexes to launch the BCI Meme Coin Leaders Index, which will track the six largest meme coins by market capitalization. This move reflects the growing interest among investors in this popular category of cryptocurrencies.The stablecoin sector maintained positive momentum despite a moderated market sentiment, according to KuCoin's monthly research report. Issuance of major stablecoins like USDT and USDC increased significantly, while the total financing scale remained relatively high.Embedded finance platform OpenPayd collaborated with Web3 money app Wirex to provide named virtual IBANs to their customers across the UK and EEA. This innovative solution enables seamless transfers between Wirex and bank accounts, utilizing real-time payments networks like Faster Payments and SEPA Instant.

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CRYPTO NEWS

Spencer Farrar, a partner at Theory Ventures, discusses the landscape of Web3 venture capital, funding opportunities, and strategic approaches in a recent episode (Ep. 334).

In an exclusive interview with Cryptonews, Spencer Farrar, a Partner at Theory Ventures, shed light on the recent challenges faced in raising capital and how his team overcame them. During the conversation with Cryptonews Podcast host Matt Zahab, Farrar emphasized the importance of project uniqueness and investor appeal in securing funding. He also stressed the significance of thorough market research and understanding the types of companies Theory Ventures invests in.Farrar revealed that 2023 proved a tumultuous year for emerging managers in the venture capital space due to the lowest dollar amount deployed in the industry in several years. Despite these challenging conditions, Theory Ventures successfully secured millions in funding. The team's resilience, persistence, and a willingness to embrace risk during uncertain times were key factors in their success.Farrar highlighted the crucial role of having a unique "edge" for investors and founders alike. For investors, having a clear understanding of their advantage is paramount, while for founders, aligning with investors and ensuring a shared vision should be a primary concern. The importance of carefully designing the cap table and understanding the support investors can provide were also emphasized.According to Farrar, Theory Ventures prioritizes two elements in their investment approach: deep research and "technical discontinuity." The latter signifies having a unique advantage in the market. This emphasis on thorough research is evident in their meticulous review of historical data on venture firms, their performance, and successful strategies. This data-driven approach empowers them with market understanding and conviction in their investments.Theory Ventures focuses primarily on Web2 and Web3 startups, specifically those operating in the realms of data, AI, and crypto. Their extensive research in these sectors involves interacting with customers, stakeholders, and industry experts. Two crucial investment decisions currently being evaluated by the team were mentioned, but details remain undisclosed.One notable partnership involves a rapidly growing data company collaborating with major finance organizations. This collaboration capitalizes on the increasing demand for data among financial institutions venturing into the crypto space. Another promising investment is a company with innovative economic models that excite the Theory Ventures team.In the Web2 sphere, Farrar collaborated with Superlinked, a vector compute company. This innovative technology transforms company data into vectors, enhancing search performance. This technology aligns perfectly with current AI trends and promises significant future value.

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CRYPTO NEWS

Developer Alexey Pertsev has been found guilty of money laundering related to the popular decentralized exchange platform Tornado Cash.

Alexey Pertsev, the developer behind Tornado Cash, has been convicted of money laundering by a Dutch judge at the s-Hertogenbosch court. The trial followed an indictment alleging that Pertsev had participated in a pattern of money laundering between July 9, 2019, and August 10, 2022. The prosecution argued that Pertsev should have harbored suspicions about the illicit origins of transactions on the Tornado Cash platform.Pertsev was detained in the Netherlands in August 2022 after Tornado Cash was blacklisted by the U.S. government. At the time, the U.S. Treasury accused the platform of being instrumental in North Korean hacking group Lazarus's crypto thefts, including the $625 million hack of Axie Infinity’s Ronin Network.The outcome of Pertsev’s trial could have significant implications for the upcoming trials of other Tornado Cash developers. Roman Storm and Roman Semenov, who were involved in the project's development, face allegations of money laundering and sanctions violations in the United States. Storm is scheduled to stand trial in September, while Semenov remains at large.Storm attempted to have all charges dismissed in late March, claiming that he did not operate a money laundering business and did not violate the International Emergency Economic Powers Act. His attorneys argued that Tornado Cash was not a custodial mixing service and did not meet the definition of a “financial institution.” They further maintained that Storm had no control over the service and could not prevent entities like Lazarus Group from utilizing it. The U.S. Department of Justice rejected this motion, asserting that the platform was explicitly advertised as a mixer in 2019 and comprised a website, user interface, smart contracts, and a network of “relayers.”Following this, the U.S. Treasury added Tornado Cash to its Specially Designated Nationals list, effectively prohibiting American citizens from using the mixing service.

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CRYPTO NEWS

Announcements Regarding Crypto Exchange Listings and Delistings: May 13, 2024

## Weekly Digital Asset Listing & Delisting Announcements**Have we missed anything?** Let us know if you have information about new listings and/or delistings on crypto exchanges.**MEXC Listings:**- TheDonato Creator (DON)- CrazyDog (CRAZYDOG)- Pink Ninja (PINKNINJA)- Versepool (VPL)- Lisede (LIS)- OBI Real Estate (OBICOIN)- Shark Cat (SHARKCAT)- Spectral (SPEC)- Three Protocol (THREE)- Time Pocket (TIMEPOCKET)- FindMe (FINDME)- memeBOSS (BOSS)- BOMES (BOMES)- Raini Studios Token (RST)- Crypto Unicorns (CU)- AEONswap (AEON)- WESET.io (WECO)- Patrick CoinPants (PCP)- Gaming Kirby (GKB)- Silense (AIS)- TecUise (TUE)- DED (DED)- Hades Protocol (HADES)- Lanify.ai (LAN)- Hank The Dog (HANK)- Mage (MAGE)- Luvbo (LUVBO)- Apocalyptic AI (AOPAI)- DOGEXAI (DOGEXAI)- Kakaxa (KAKAXA)- BOMESS (BOMESS)- Super Infinity X (SUPERX)- DeepSouth AI (SOUTH)- Povel Durev (DUREV)- Chintai Nexus (CHEX)- Monke (MONKE)- Demetric (DM)- Byte AI (BYTEAI)- SunCloud Artificial Intelligence (SUNAI)- PEPE FLOKI (PEPEFLOKI)- BounceBit (BB)- Modriv (MDR)- Catamoto (CATA)- Cat MEME (CATMEME)- Lola the cat (LOLA)- Live (LIVE)- Lord of Sol (LOS)- State Street Global Advisors (SSGA)- Pinede (PNE)- MTMT (MTMT) **KuCoin Listings:**- Wisdomise AI (WSDM)- BounceBit (BB)- Notcoin (NOT)- Pitbull (PIT) **Bitrue Listings:**- Renzo (REZ)- michi (MICHI)- Joe Boden (BODEN)- MAGA Memecoin (TRUMP)- Slothana (SLOTH)- Call**And more...

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CRYPTO NEWS

Tether has frozen $5.2 million in USDT tokens due to malicious phishing links.

Tether continues to closely monitor and penalize illicit activities on its platform. On May 14, it identified and froze USDT worth $5.2 million as part of its efforts to enforce stricter network controls and combat money laundering. Initial suspicions regarding these funds arose from blockchain tracking platform MisTrack. The frozen USDT were distributed across 12 Ethereum wallets that were flagged as “USDT Banned Addresses.” The company suspects these funds were laundered through numerous phishing schemes.Tether’s proactive measures to combat illicit activities within the cryptocurrency industry have been evident in recent events, showcasing their unwavering commitment to preserving the integrity and security of their network. In March 2024, Tether collaborated with the US Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI) to seize $1.4 million worth of USDT from a tech support scam network.Tether actively monitors USDT addresses and takes definitive action to blacklist suspicious ones. In January 2022, they blacklisted three Ethereum addresses holding over $150 million in USDT. Further actions followed in October 2022, when $8.2 million in USDT was frozen on Ethereum, along with the addition of 215 Ethereum-based USDT addresses to the blacklist.Tether has displayed swift responsiveness to emerging threats. In late 2022, they froze over $360 million in assets associated with illicit activities and took action against USDT linked to terrorist activity in Ukraine and Israel, freezing $817,000 in October 2023. Additionally, in November 2023, $225 million in USDT associated with romance scams was frozen.To strengthen their monitoring capabilities, Tether has partnered with Chainalysis to develop tools for identifying wallets that pose risk or are connected to illicit or sanctioned addresses.Tether’s recent freezing of USDT coincides with a UN report classifying USDT as the preferred cryptocurrency for money laundering, leading to speculation of a potential US government investigation. Ripple CEO Brad Garlinghouse further fueled this speculation by claiming that the US government is targeting Tether. Tether CEO Paolo Ardoino responded by criticizing Garlinghouse’s lack of knowledge and suggesting that his comments were influenced by Ripple’s upcoming stablecoin, which could potentially compete with USDT.Tether has established collaborative partnerships with numerous law enforcement agencies across the globe. In the past year, they have responded to 198 requests to block wallets and 339 requests over the past three years. These collaborations have been instrumental in identifying and mitigating risks associated with illicit activities involving USDT.

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CRYPTO NEWS

The decline in Bitcoin's hash rate reflects the closure of unprofitable mining rigs among firms following the recent halving event.

The hash rate of the Bitcoin network has witnessed a significant decline as mining firms decommission unprofitable rigs following the fourth Bitcoin halving. Data from blockchain.com reveals that the hash rate dropped to its lowest level in over two months, reaching 575 exahash per second (EH/s) on May 10. It has since experienced a modest recovery and currently stands at 586 EH/s.The decline in hash rate can be attributed to miners shutting down rigs that have become financially unsustainable due to the increased costs associated with Bitcoin mining after the halving, coupled with rising electricity expenses. James Butterfill, the head of research at CoinShares, elaborated on this point in a recent post on X.CoinShares had previously predicted the temporary reduction in Bitcoin hash rate in a recent blog post. However, the firm maintains a positive outlook on the long-term trajectory of the hash rate.The reduction in hash rate is primarily attributed to the heightened expenses incurred during Bitcoin mining following the halving event. The report suggests several strategies to mitigate these challenges, including optimizing energy consumption, enhancing mining efficiency, and securing favorable hardware procurement terms.Nazar Khan, the co-founder and COO of TeraWulf, believes that only smaller mining operations utilizing less energy-efficient equipment will face difficulties post the 2024 halving. TeraWulf, valued at over $670 million, plans to expand its operations despite the reduction in block rewards.However, the profitability of mining operations remains heavily reliant on the cost of electricity. According to the Hashrate index, older ASIC models become unprofitable when electricity costs exceed $0.09/kWh. The profitability threshold is further lowered for more advanced models at $0.08/kWh and beyond. Even high-performing models like the S19j Pro+, j Pros, and M30S++ will face challenges when electricity costs range between $0.06 and $0.07/kWh.In response to the recent halving event on April 20, which reduced mining rewards from 6.25 BTC to 3.125 BTC, Bitcoin miners have undertaken adjustments to their operations. Riot Platforms exemplifies this shift in strategy.Furthermore, there are indications of a potential outflow of Bitcoin from miners in the months following the upcoming halving event. Markus Thielen, the head of research at 10x Research, estimates that Bitcoin miners could potentially liquidate approximately $5 billion worth of BTC after the halving.CoinShares analysis suggests that Riot, TeraWulf, and CleanSpark are well-positioned to navigate the impending challenges. It is noteworthy that the number of new Runes etched on Bitcoin daily has witnessed a significant decline, falling below 250 for the past six days. Initially, this protocol provided a much-needed revenue boost for Bitcoin miners seeking to mitigate the impact of the recent halving.

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CRYPTO NEWS

Daily Bitcoin artwork sales have drastically declined by 99% from their peak in April.

The daily count of new Runes etched onto the Bitcoin blockchain has witnessed a significant decline over the past week, dropping below 250 for the past six days. Notably, only 157 Runes were etched on Monday, representing a staggering 99% decrease from the peak recorded in late April. This decline follows a period of remarkable growth, during which an average of 14,700 new Runes were etched daily between April 26 and 30. The pinnacle of this surge was achieved on April 26, with a record-breaking 23,061 Runes etched onto the blockchain.Runes, a new token standard introduced at the fourth Bitcoin halving block on April 20, empowers memecoin and non-fungible token enthusiasts to inscribe their cherished artwork, images, audio, and videos onto the Bitcoin network. Initially, this innovative protocol served as a much-needed revenue source for Bitcoin miners, compensating them for the reduction in block subsidy following the halving.Despite the recent decline in Rune etchings, transactions associated with the protocol continue to dominate a significant portion of Bitcoin transactions in May. These transactions primarily occur on popular marketplaces such as Magic Eden, OKX, Ordinals Wallet, and UniSat.Runes were designed by Ordinals inventor Casey Rodarmor with the intention of utilizing blockspace more efficiently than its primary competitor, BRC-20s. Unlike BRC-20s, Runes leverage Bitcoin’s unspent transaction output (UTXO) model, enabling UTXOs to hold balances of arbitrary fungible tokens like Runes.Last month, Bitcoin core developer Luke Dashjr expressed concerns about the Runes protocol, alleging that it exploits a fundamental design flaw within the Bitcoin blockchain network. He pointed out the differing approaches of Ordinal Inscriptions and Runes in their interaction with the network, suggesting that while Ordinals exploits vulnerabilities, Runes operates within the existing framework of the network’s design flaws. In response to Dashjr’s critique, he proposed methods for filtering out Runes transactions by adjusting the “datacarriersize” setting in the bitcoin.conf file. However, miners have yet to embrace this recommendation. The surge in Runes popularity coincided with Bitcoin transaction fees reaching an all-time high average of $128 on April 20, the date of the fourth Bitcoin halving.

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CRYPTO NEWS

VanEck's Bitcoin ETF added $109 million in net assets during the first quarter, holding approximately $619 million worth of Bitcoin during the period.

VanEck's Bitcoin exchange-traded fund (ETF) witnessed significant growth during the first quarter of 2024. According to VanEck Bitcoin Trust's filing with the Securities and Exchange Commission (SEC), the HODL Bitcoin ETF experienced an increase of $109 million in net assets during the first fiscal quarter of 2024, which ended on March 31.The filing also revealed that HODL held 8,711 Bitcoin worth $515 million, with an estimated value of $619 million. Additionally, the ETF reported liabilities of $20 million and a net realized gain of $6 million. As of April 30, 2024, the fund had 8.2 million shares outstanding.The SEC's approval of VanEck and ten other Bitcoin ETFs on January 10, 2024, marked a significant milestone for the cryptocurrency industry.VanEck CEO Jan van Eck expressed skepticism about the SEC's approval of spot Ethereum ETFs during an interview with CNBC on April 9. He suggested that his company's application was likely to be denied.VanEck and Cathie Wood's ARK Invest were among the first to file for Ethereum ETFs in the United States. They await a final decision, expected on May 23 and May 24 respectively.Previously, on March 27, VanEck advisor Gabor Gurbacs criticized existing crypto regulations for hindering innovation. Gurbacs attributed the instability in the crypto sector to inadequate regulatory frameworks, citing the SEC's delay in potentially approving Ethereum ETF applications. He expressed disappointment with the way regulators in developed markets had managed digital asset regulation over the past decade, alleging that they simultaneously enabled scams, stifled innovation, and protected established players at the expense of those developing better systems. Gurbacs emphasized that prioritizing personal interests, bureaucracy, and outdated practices over national interests and capital formation was unacceptable, especially in the current economic climate.

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CRYPTO NEWS

Bitcoin has transitioned into an accumulation phase following the recent halving event, escaping the "danger zone" identified after the reduction in supply. This analysis suggests the market is poised for further upward movement.

Technical analyst Rekt Capital suggests that Bitcoin has emerged from the post-halving “danger zone” and entered an accumulation phase, evidenced by diminishing selling pressure. Following previous halving events, Bitcoin typically experienced heightened volatility, leading to its being labelled as the “danger zone.” In the current cycle, Bitcoin’s price dipped by a mild 6.5% over three weeks before experiencing a 15% surge, indicating a robust escape from the danger zone. As per Rekt Capital, the “Post-Halving Bitcoin ‘Danger Zone’” has officially concluded, and Bitcoin is celebrating with a notable rebound from the Re-Accumulation Range Low support level. Currently, Bitcoin trades at approximately $62,600, reflecting a 3% gain in the past 24 hours.In a recent blog post, Rekt Capital emphasizes the significance of the $60,000 support level for the continuation of the upward trajectory, with a potential ascent towards the $68,000 mark. The author suggests that the Bitcoin correction is likely over, and the price should maintain itself above $60,000 in the foreseeable future. While past performance does not guarantee future outcomes, the strength of the current support level is an encouraging indicator for Bitcoin’s trajectory.Investors will closely monitor the release of the April Consumer Price Index (CPI) on Wednesday, which is anticipated to be 3.4% for CPI and 3.6% for core CPI. Inflation remains a concern given that it surpasses the Federal Reserve’s target of 2%. Unless inflation exhibits improvement, interest rates may remain elevated for an extended period.Arthur Hayes, founder of BitMEX, argues that the rising government debt and adjustments made by the Federal Reserve and US Treasury increase the attractiveness of alternative investments like Bitcoin. Hayes foresees Bitcoin’s price exceeding $60,000 and stabilizing within the range of $60,000 to $70,000 by August.Standard Chartered suggests that the outcome of the upcoming US presidential election could influence Bitcoin’s value. The bank believes that a potential victory for Donald Trump might be advantageous for Bitcoin due to potential changes in fiscal and monetary policies. Standard Chartered anticipates Bitcoin’s price reaching $150,000 by year’s end and $200,000 by 2025.Crypto hedge fund Pantera Capital maintains its bullish stance on Bitcoin and forecasts a potential surge in price to $114,000 by August 2025. This forecast emerges amidst industry challenges such as inflation concerns, Federal Reserve interest rate policies, and the escalating Middle East crisis.Utilizing a stock-to-flow model, Pantera Capital assesses the relationship between Bitcoin’s supply and the rate of new production, which halves every four years during halving events. Historical data reveals that Bitcoin’s price has experienced significant increases, sometimes up to 93-fold, in response to these events. Based on this analysis, Pantera Capital concludes that the peak of Bitcoin’s potential surge typically occurs approximately 2.6 years following halving events. Considering this timeframe, the predicted surge is expected to materialize in August next year.

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CRYPTO NEWS

Significant market movement stirs as two large entities emerge after a decade of dormancy, initiating Bitcoin fund transfers. What potential implications could this enigmatic activity hold for the future price of Bitcoin?

**Bitcoin Price Prediction: Mysterious Whales Spark Market Speculation**The cryptocurrency market is buzzing with anticipation following the sudden activity of two enigmatic whales who have remained dormant for over a decade. These digital giants moved 1,000 Bitcoin (worth approximately $60.9 million) within the past 20 minutes, sending shockwaves across the industry. Market analysts and traders are now piecing together the potential ramifications of this unexpected event on future price movements.**Long-Dormant Wallets Resurface with Massive Transactions**Two Bitcoin wallets, untouched for over a decade, recently orchestrated a staggering transaction. Each wallet received 500 Bitcoin in September 2013, when the price per coin was $124. The total value of the transferred Bitcoin currently stands at approximately $60.9 million. This unprecedented movement has captivated the attention of industry experts and sparked widespread speculation.**Market Volatility and Influential Holders**The sudden reactivation of these long-dormant wallets throws light on the possibility of increased market volatility or strategic maneuvers by influential holders. Investors must stay alert and well-informed to navigate this evolving landscape.**Technical Analysis and Price Prediction**Bitcoin (BTC/USD) currently trades at $62,022, encountering a minor setback of 1.50%. The 4-hour chart reveals a pivotal point at $61,764, a key level for traders to monitor. Resistance levels are clustered around $63,824, $65,506, and $67,222, while immediate support rests at $60,185, with further safety nets at $58,812 and $56,640. Technical indicators suggest a neutral market sentiment, with the Relative Strength Index hovering around 50.**Mega Dice Presale Update and Market Interest**The Mega Dice presale nears completion, having successfully raised $960,233.61 with over 13.91 million $DICE tokens sold out of the available 14.7 million. This surge in investment underscores the burgeoning interest in crypto-integrated iGaming platforms within the Web3 domain, where Mega Dice stands out.**Layer 2 Solutions and Market Influence**Layer 2 solutions primarily designed to enhance Ethereum's scalability are mirroring the market's fluctuations. Given Ethereum's dominant market share (63.42%) and total value locked ($54.3 billion), its performance significantly impacts the outcomes of Layer 2 protocols.**Invest at Your Own Risk**Mega Dice has implemented a buyback and burn strategy to maintain token scarcity and bolster market value. With the presale nearing its conclusion and the next price stage approaching, potential investors are urged to stay updated through channels like X/Twitter and Telegram.

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CRYPTO NEWS

South Korean tax authorities have issued tax bills to recipients of the recent Bithumb Airdrop, prompting the exchange to respond with measures to facilitate return of the tokens.

South Korean crypto enthusiasts who received airdrop tokens and prizes from the Bithumb exchange between 2018 and 2021 may face unexpected tax bills. Hanguk Kyunjae reported that Bithumb has pledged to cover the tax burden incurred by its customers following a Taxation Authority order. However, the exchange disputes the National Tax Service's (NTS) retrospective taxation policy.Bithumb customers have been instructed to pay approximately $30 million in taxes as a consequence of receiving airdrop rewards and participating in cashback-style promotions. The NTS estimates that the exchange distributed roughly $61 million worth of assets to South Korean residents during the 2018-2021 period.The unexpected tax bills have surprised many, especially as South Korea does not currently tax crypto-related profits. Nonetheless, winners of lotteries and similar events are required to declare and pay taxes on their winnings, which are categorized as "other income." Residents must pay 22% of their winnings for prizes exceeding approximately $37.Bithumb reported that 10,700 of its users were notified to pay a total of $15 million in taxes in the previous year. This marks the first instance of the NTS taxing South Korean airdrop recipients.To alleviate the burden on its customers, Bithumb announced its intention to compensate them for any taxes they have been compelled to pay. However, the exchange has also filed a tax appeal against the NTS, claiming that virtual assets and commission cashback distributed during events are exempt from taxation.Bithumb argues that these items are akin to free gifts or sales benefits, echoing the practices of securities providers and retailers who often offer gifts to new account holders or high-spending customers. Tax experts suggest that the outcome of the appeal will depend on the nature of the giveaway event.While the outcome of the appeal remains uncertain, it may take several years for a ruling to be reached. Bithumb's attempt to become the first South Korean crypto exchange to list on the nation's stock exchange coincides with these tax-related developments.

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