BTC traded flat after a slight dip early Thursday. Ether also traded in a narrow range. Source
Bitcoin Holds Near $29K as Investors Weigh Rate Increases, Banking Contagion
Day: May 4, 2023
Montana governor signs pro-cryptocurrency mining bill into law
Greg Gianforte, the governor of Montana, has signed into law a bill largely preventing local governments in the state from passing laws prohibiting cryptocurrency mining. According to records with the Montana legislature, Gianforte signed S.B. 178 into law on May 2 after the bill had passed both the state House and Senate. The legislation effectively enshrines crypto miners’ rights in the state by revising existing laws, prohibiting discriminatory electrical rates for mining firms and not allowing taxation for crypto used as a method of payment. The latest version of the…
Wrapping Up Consensus 2023
What was also really fascinating to me is that my colleagues, who don’t necessarily have to address regulatory issues, also called out regulation as a key topic. Both Nick Baker, CoinDesk’s deputy editor-in-chief and Ben Schiller, CoinDesk’s managing editor for Consensus Magazine, mentioned regulatory issues in the same column. The other contributors included CoinDesk reg team reporters Cheyenne Ligon and Amitoj Singh. Source
Bitcoin’s Frenzy of Activity Pushes Average Transaction Fee Over $7, Nearly 2-Year High
The average transaction fee on Bitcoin has shot above $7, pushing total fees up nearly five-fold in two weeks– thanks to a surge in Ethereum-style “BRC-20” tokens and NFT-like “inscriptions” on the increasingly popular Ordinals project. Original
Chatgpt ‘Is the New Crypto,’ Meta Says Malware Actors Exploit AI Craze – Security Bitcoin News
A growing number of malware creators are now taking advantage of the significant interest in Chatgpt to lure victims, Facebook owner Meta has noticed. According to its head of information security, the AI-based chatbot is “the new crypto” for bad actors and the social media giant is preparing for various abuses. Malware Inspired by Chatgpt Is on the Rise, Facebook’s Parent Company Says Meta, the corporation behind Facebook, has found that malware purveyors are now exploiting public interest in Chatgpt, Openai’s chatbot powered by artificial intelligence (AI), to entice users…
New White House standards strategy could have implications for crypto industry KYC
The administration of United States President Joe Biden released a national standards strategy for critical and emerging technologies on May 4. The strategy stated that the U.S. would prioritize standards development in eight areas. Among the prioritized areas are “digital identity infrastructure and distributed ledger technologies, which increasingly affect a range of key economic sectors.” “Distributed ledger” is a synonym for blockchain. Digital identity is “the unique representation of a subject engaged in an online transaction,” according to a National Institute of Standards and Technology (NIST) document now under review.…
Decentralized Exchange DEX SushiSwap Rolls Out V3 Liquidity Pool on 13 Chains
The version (v)3 concentrated liquidity pools will become available on popular chains, including Ethereum, Arbitrum and Polygon, BSC and Avalanche. The launch aims to expose liquidity providers to larger trading volumes and liquidity while reducing exposure to financial risks. The pools are designed to offer greater flexibility to traders, SushiSwap business development lead Alex Shefrin told CoinDesk. Source
Block’s Q1 Bitcoin Revenue Rises 18% From Q4, Gains 25% From a Year Ago
For the full year, Block’s bitcoin revenue declined 29% from 2021 due to the fall in the price of bitcoin, the company said. Original
Coinbase Shares Rise as Q1 Revenue Grows 23% From Q4 to $773M
“America is in a position to lead in crypto and help update the global financial system,” Coinbase said in a letter to shareholders. “We need crypto specific rules, rather than regulation by enforcement, to help this innovative technology flourish and for America to maintain its leadership position.” Source 773MCoinbaseGrowsRevenueRiseShares CryptoX Portal
Coinbase Shares Rise as Q1 Revenue Grows 23% to $773M From Q4
Crypto exchange Coinbase (COIN) reported Q1 revenue of $773 million, exceeding analyst estimates of $655 million, according to FactSet, and up from Q4 revenue of $629 million. The company reported an adjusted loss of $0.34 per share, compared to an analyst estimate for a loss of $1.45 per share and a narrowing from Q4’s loss of $2.45 per share. Source