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💲 Tether to allocate up to 15% of its profits towards purchasing Bitcoin.
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🧬 OpenAI boss Sam Altman is reportedly in “advanced talks” of securing $100 million funding for Worldcoin, a project aimed at creating a collectively owned and globally distributed cryptocurrency.
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🕊 Elon Musk says he has chosen a new CEO for Twitter and it’s a woman
Elon Musk announced Thursday afternoon that he would soon be stepping down as Twitter CEO, and had chosen a new candidate.
“Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks! My role will transition to being exec chair & CTO, overseeing product, software and sysops,” he wrote.
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🔥 US inflation falls to 4.9%, lower than expectations.
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⛔️ Bittrex crypto exchange files for Chapter 11 bankruptcy.
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⚡️ Binance temporarily suspends all Bitcoin withdrawals, citing "network congestion issues."
UPD: BTC withdrawals are now resumed on Binance.
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🤡 Binance Will List FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone.
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🇺🇸 Coinbase International Exchange launches amid SEC crypto crackdown in the US
As the cryptocurrency industry faces regulatory challenges in the United States, public crypto exchange Coinbase is moving forward with a global derivatives platform.
On May 2, Coinbase announced the launch of the Coinbase International Exchange (CIE), a new institutional platform designed for crypto derivatives trading.
Coinbase stressed that direct access trading on CIE is available to institutional clients via API in eligible, non-U.S. jurisdictions. “These products are not available to retail customers at this time,” Coinbase added.
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⚒ Jack Dorsey’s nano Bitcoin mining chip heads to prototype
Block, a financial services and technology company owned by former Twitter CEO Jack Dorsey has announced it has completed the prototype design of its new five-nanometre (5nm) Bitcoin mining chip — which it claims is key to decentralizing the supply of Bitcoin mining rigs.
According to a blog post published on April 28, Block explained that developing Bitcoin mining ASIC rigs is both financially and technically challenging. The result of this has been “the excessive concentration of custom bitcoin mining silicon” in the hands of a select few companies. Block deems this centralization harmful to both miners and the Bitcoin network as a whole.
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🐶 One crypto wallet launched 114 dodgy memecoins in two months
According to research from blockchain sleuths ZachXBT, one address, in particular, has launched “114 memecoin scams” in the past 45 days alone.
In an April 26 Twitter thread, ZachXBT tracked the movements of the wallet address 0x739c58807B99Cb274f6FD96B10194202b8EEfB47, noting that “each time stolen funds from the scam are sent to the exact same deposit address.”
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🌍 Circle launches cross-chain USDC transfer protocol for Ethereum, Avalanche
Circle, the creator of US Dollar Coin USDC, has launched a mainnet protocol that lets users transfer USDC between Ethereum and Avalanche, according to an April 26 announcement.
Previously, Avalanche users who held USDC on Ethereum had to deposit their coins with a Circle partner or use a third-party bridge to transfer their USDC from one network to the other. The new Cross-Chain Transfer Protocol (CCTP) protocol appears to do away with this need for USDC bridges.
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👀 A long-dormant Ethereum address that participated in the blockchain's initial coin offering, or ICO, awoke after 7.7 years. It transferred one ether to a new address — which some speculate indicates a test transaction.
The wallet in question received 2 365 ETH — worth approximately $4.42 million today.
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🐳 A dormant address containing 6 071 BTC (178 128 678 USD) has just been activated after 9.3 years (worth 3 362853 USD in 2013).
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👀 1 million ether has been withdrawn since Ethereum's Shanghai hard fork.
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🔥 Twitter to let users access stocks, crypto trading through eToro as Musk pushes app into finance.
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🇨🇳 Chinese prosecutors to crack down on ‘pseudo-innovation’ in NFT market
On May 15, the Supreme People’s Procuratorate of the People’s Republic of China — the national agency responsible for legal prosecution — shared its thoughts on the nonfungible token (NFT) market. In an article, three authors outlined the prosecutors’ vision of the market risks and the reasons to combat them more actively.
The article pays attention to the tendency of “securitization” of NFTs, i.e., the shared ownership of one copy by multiple users, which, in the authors’ opinion, no longer corresponds to criteria of non-reproducibility, indivisibility and uniqueness.
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🇨🇦 Binance shuts down operations in Canada.
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📉 US government is selling bitcoin.
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🇺🇸 Biden calls to end $18B ‘crypto tax loopholes’
United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist.
Cutting such loopholes would save about $18 billion, according to Biden. However, the president did not provide any information on which loopholes existed and what reforms would lead to the potential savings amount the president shared.
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🧬 Binance to integrate Bitcoin lightning network.
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🇱🇮 Liechtenstein plans to adopt Bitcoin as a legal tender — according to the plan, it will be possible to use BTC to pay for goods and services in both public and private institutions in the country, as well as to make Bitcoin deposits in banks.
The government is also considering the possibility of investing state funds in BTC.
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🇧🇹 Bhutan’s DHI and Bitdeer to raise $500M to develop sustainable mining operations
Nasdaq-listed mining company Bitdeer Technologies Group and Bhutan’s sovereign investment arm Druk Holding and Investments (DHI) have teamed up to create eco-friendly and carbon-free digital asset mining operations in the Kingdom of Bhutan.
In an announcement sent to Cointelegraph, Bitdeer and DHI said they would launch the partnership by creating a closed-end fund with an approximate value of $500 million. The firms aim to start their fundraising efforts at the end of May to attract investments from around the world.
The partnership is expected to create employment opportunities in various fields, including engineering, project management, and supervisory and supportive roles. Moreover, it is expected to stimulate economic growth and generate revenue in foreign currency for the local community and the country.
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🏦 Biggest US bank failures in history
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🧠 OpenAI closes $300M share sale at $27B-29B valuation
OpenAI, the startup behind the widely used conversational AI model ChatGPT, has picked up new backers, TechCrunch has learned.
VC firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global picking up new shares, according to documents seen by TechCrunch. A source tells us Founders Fund is also investing. Altogether the VCs have put in just over $300 million at a valuation of $27 billion – $29 billion.
This is separate to a big investment from Microsoft announced earlier this year, a person familiar with the development told TechCrunch, which closed in January. The size of Microsoft’s investment is believed to be around $10 billion, a figure we confirmed with our source.
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🏦 Raiffeisenlandesbank to offer crypto investment services
Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), an Austrian cooperative banking company founded in 1900, is preparing to launch crypto investment services in collaboration with the Austrian crypto firm Bitpanda.
According to a joint announcement on April 26, RLB NÖ-Wien plans to provide its customers with a broad range of cryptocurrencies through Bitpanda’s software as a service (SaaS) offering. Crypto investment will be featured alongside investment services for stocks, exchange-traded funds, precious metals and commodities.
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🇨🇳 Chinese city public servants to receive digital yuan salaries starting May
The Chinese city of Changshu has stated that all civil servants in its jurisdiction will be paid their full salaries in digital yuan starting May 2023, according to local reports.
An on-site staff member of a local hospital reportedly confirmed that the workforce would receive payments in digital yuan starting next month. In addition, reporters were told that employees can opt for digital yuan settlements through self-service terminals.
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🔋 Terawulf Energizes 50 MW at Nuclear-Powered Bitcoin Mining Facility Nautilus
Bitcoin mining company Terawulf has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility.
The behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from a fixed power cost of $0.02 per kilowatt-hour (kWh), according to the company.
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🤖 Elon Musk to launch truth-seeking artificial intelligence platform TruthGPT
Elon Musk told Fox anchor Tucker Carlson that he’s developing a ChatGPT rival known as “TruthGPT,” a large language model (LLM) that Musk says will be trained to explore the mysteries of the universe.
“I’m going to start something which I call TruthGPT, or a maximum truth-seeking AI that tries to understand the nature of the universe.”
This truth-seeking AI, as per Musk, will also push back against what he perceives as “left-wing” bias in the industry. Musk told Carlson that ChatGPT “is programmed by left-wing experts, which train the chatbots to lie.” Carlson, for his part, also stated that “the deeper problem is not simply that it will become autonomous and turn us all into slaves, but that it will control our understanding of reality and do it in a really dishonest way,” adding that “it could be programmed to lie to us for political effect.”
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🇺🇸 Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss.
In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly congressman announced his intention to have Gensler removed from his role after the SEC’s latest announcement about revisiting the proposed redefinition of an “exchange.”
"To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides)," Davidson tweeted.
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⛔️ Exploit involving Aave V1 and Yearn estimated to be around $10 million.
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