Bitcoin’s dominance in the crypto market is “now losing major support” and potentially has even “peaked” according to crypto analysts. Source: https://cointelegraph.com/news/bitcoin-dominance-declines-altcoins-may-start-upswing-analyst
Month: May 2024
Wyoming Senator Slams DOJ’s Take on Non-Custodial Crypto Software, Vows to Protect User Rights
Wyoming’s Republican Senator Cynthia Lummis has responded to the Department of Justice’s (DOJ) latest argument regarding non-custodial software. Lummis’s remarks follow the DOJ’s reply brief on the indictment against Tornado Cash developer Roman Storm’s motion to dismiss. Senator Lummis Questions DOJ’s Non-Custodial Wallet Stance, Cites Legal Misinterpretations Senator Cynthia Lummis, a staunch advocate of cryptocurrency, […] Source: https://news.bitcoin.com/wyoming-senator-slams-dojs-take-on-non-custodial-crypto-software-vows-to-protect-user-rights/
Crypto firms among ‘greatest risks’ for money laundering in 2022-2023: UK govt
Crypto firms, wealth management companies, and retail and wholesale banking remain “particularly vulnerable” to financial crime, according to a U.K. Treasury report. Source: https://cointelegraph.com/news/crypto-firms-greatest-risks-money-laundering-uk-treasury
DeFi lending giant Aave unveils V4 protocol overhaul
Aave Labs shared a proposal for the next version of its protocol, which included improvements to its stablecoin, GHO. Source: https://cointelegraph.com/news/aave-unveils-v4-protocol-overhaul-2030-roadmap
US Coal Miner Uses Excess Power to Mine BTC; Earns 61 Coins in Q1 2024
Alliance Resource Partners (ARLP), a coal mining company in the U.S., recently disclosed its use of underutilized electricity loads for bitcoin mining. Cary Marshall, the company’s CFO, revealed that ARLP concluded the first quarter of 2024 with an approximate total of 425 bitcoins. Marshall also stated that during the first quarter, ARLP mined 61 bitcoins […] Source: https://news.bitcoin.com/us-coal-miner-uses-excess-power-to-mine-btc-earns-61-coins-in-q1-2024/
Bitcoin 4% dip may ‘panic’ short-term holders as price falls below average cost
Bitcoin short-term holders are currently holding a 3% unrealized loss but it “isn’t the end of the world,” according to a crypto analyst. Source: https://cointelegraph.com/news/bitcoin-price-dip-may-panic-short-term-holders-analysts
BlackRock’s Bitcoin ETF sees first outflow day as US ETFs notch record bleed
BlackRock’s IBIT saw around $37 million in outflows for the first time while the remaining spot Bitcoin ETFs collectively notched over $526.8 million in outflows. Source: https://cointelegraph.com/news/blackrock-bitcoin-etf-first-outflow-day-etfs-record-outflows
US probes Jack Dorsey’s Block, Inc. over financial transactions: Report
U.S. prosecutors are reportedly investigating the fintech firm after a whistleblower claimed it processed thousands of transactions for users from sanctioned countries and terrorist groups. Source: https://cointelegraph.com/news/us-probes-block-inc-over-financial-transactions-report
MicroStrategy to launch Bitcoin-based decentralized ID solution
MicroStrategy has already built an application on “MicroStrategy Orange” — Orange For Outlook — which integrates digital signatures into emails to verify the identity of the sender. Source: https://cointelegraph.com/news/microstrategy-bitcoin-decentralized-identity-solution
Jack Dorsey’s Block Faces DOJ Probe Over Alleged Transactions With Sanctioned Nations and Terrorist Groups
Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transactions with sanctioned nations and groups linked to terrorism. Allegations against Block include handling transactions […] Source: https://news.bitcoin.com/jack-dorseys-block-faces-doj-probe-over-alleged-transactions-with-sanctioned-nations-and-terrorist-groups/