Monthly Archives: May 2022

Argentina’s central bank steps in to block new crypto offerings from banks

Only four days have passed since two of Argentina’s biggest banks opened up to crypto trading but now the central bank has stepped in to block the offerings. The central bank of Argentina (BCRA) has put the kibosh on financial institutions offering crypto trading only days after two of the country’s largest banks signaled they were opening up to digital assets. On May 5 the BCRA said the move was to mitigate the risks crypto poses to users and “to the financial system as a whole” citing […]

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Ice Cube backs DOGE and an ‘incredible and historical’ transaction

Ice Cube said he is down with the “DogeArmy” after Bill Lee bought $625,000 worth of NFTs tied to the rappers’ BIG3 basketball league in DOGE. Iconic rapper Ice Cube — also known as O’Shea Jackson Sr — has jumped on the Dogecoin bandwagon with his endorsement of an “incredible and historical” DOGE transaction. Cube’s entry into the wild world of Dogecoin is related to the BIG3 basketball league that he co-founded. The organization predominantly features former NBA stars in a three-on-three format as opposed to the […]

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Senator’s Financial Freedom Act would ensure Bitcoin can be in your 401(k)

The bill is a response from the Alabama Senator to Senator Warren and the Department of Labor’s bid to block Bitcoin investments in self-directed 401(k) investment plans. Republican Senator Tommy Tuberville from Alabama has unveiled a new bill he calls the Financial Freedom Act to allow Americans to add cryptocurrency to their 401(k) retirement savings plan unencumbered by regulatory guidance. The new bill is Tuberville’s response to the Department of Labor’s (DOL) push to potentially keep crypto out of 401(k) investment plans due to its perceived potential […]

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Bitcoin Miners Reach the Halfway Point to the Next Block Reward Halving

On May 5, 2022, at block height 735,000, the bitcoin mining pool Poolin mined the 105,000th block reward since the last halving. The mined block also represents the halfway point to the next halving that is estimated to take place on or around April 27, 2024. Block 735,000 follows the network issuing over 19 million bitcoin and the hashrate reaching an all-time high three days ago on May 2. Block 735,000: Halfway to the Next Halving The Bitcoin network is getting closer to the next halving which […]

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Hop Protocol reveals details of Hop DAO and Optimism-style airdrop

Cross-chain bridging protocol, Hop has launched Hop DAO, its community-owned governance structure that will see early users airdropped 8% of all HOP tokens. Hop Protocol, a cross-chain bridge designed to facilitate the quick transfer of tokens between different Ethereum Layer-2 scaling solutions, has unveiled a new governance model alongside an airdrop that will see early users receive 8% of the total supply of soon-to-be-released HOP tokens. Similar to Optimism, which recently unveiled a new governance structure that will see early users airdropped 5% of the total supply […]

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‘Decentralized Twitter’ Bluesky releases code, outlines content moderation

Bluesky outlined that it is “not possible to have a usable social network without moderation,” and intends to build a moderation model for the network dubbed “speech and reach.” Twitter’s decentralized social media project Bluesky has released its first batch of code, and also committed to content moderation on the network. Former Twitter CEO Jack Dorsey first announced Bluesky back in late 2019, but the project went independent in February after receiving $13 million worth of funding from Twitter. However, Dorsey is still a member of the […]

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Court orders BitMEX founders to pay $30M civil penalty

The three co-founders have been ordered to pay hefty fines for what the CFTC calls their involvement in serious violations of regulations and the Commodity Exchange Act. The U.S. District Court for the Southern District of New York has ordered a total of $30 million civil monetary penalties from the three co-founders of BitMEX crypto derivatives exchange, including former CEO Arthur Hayes. Hayes, Benjamin Delo, and Samuel Reed were each fined $10 million in consent payments according to a statement from the Commodity Futures Trading Commission (CFTC) […]

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California Governor Newsom Signs Executive Order on Crypto, Blockchain, and Web3

California Governor Gavin Newsom has signed an executive order on crypto and blockchain to create a comprehensive and harmonized framework for Web3 technology to thrive. “California is a global hub of innovation, and we’re setting up the state for success with this emerging technology,” said the governor. California’s Governor Issues Executive Order on Blockchain and Crypto The governor of the U.S. state of California, Gavin Newsom, signed an executive order Wednesday to “create a transparent and consistent business environment for companies operating in blockchain, including crypto assets […]

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Tumbleweeds blow through Coinbase NFT on its first day: Just $75K in volume

After almost seven months and over 8.4 million emails on the waitlist Coinbase opened its NFT marketplace to the public but only recorded 150 transactions on the big day. Coinbase, one of the largest crypto exchanges by volume, opened its beta non-fungible token (NFT) marketplace to the public on May 4 with on-chain data showing a maximum of 150 total transactions on the day and $75,000 in USD volume. The transactions captured by Dune Analytics show the total amount which took place through the 0x Protocol, the […]

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Elon Musk Secures Funding From Crypto-Friendly Binance, Sequoia, Fidelity to Buy Twitter

Tesla and Spacex CEO Elon Musk has secured $7.139 billion in new financing commitments to fund his acquisition of Twitter, including from several pro-crypto companies. Cryptocurrency exchange Binance, for example, has committed to invest $500 million in the social media platform alongside Musk. Crypto-Friendly Companies Join Elon Musk to Buy Twitter Tesla CEO Elon Musk has secured funding from 18 companies to purchase Twitter Inc., his filing with the U.S. Securities and Exchange Commission (SEC) on Thursday shows. The SEC filing explains that Musk received equity commitment […]

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