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MakerDAO founder says fully decentralized 'PureDai' will launch in few years MakerDAO founder Rune Christensen said a future token, PureDai, will serve as a fully decentralized alternative to its U.S. dollar-pegged stablecoin. Known as PureDai, the stablecoin will operate exclusively on the Ethereum mainnet and use ether and Lido staked ether (stETH) as collateral backing — fully relying on decentralized oracles. It will also have a free-floating peg, meaning the decentralized stablecoin may not be pegged to the dollar.
Tornado Cash developer Alexey Pertsev sentenced to 64 months: report Tornado Cash developer Alexey Pertsev was convicted on money laundering charges. A Dutch court convicted Pertsev, 31, of laundering $ 1.2 billion in crypto through the Tornado Cash mixer between July 9, 2019, and Aug. 10, 2022, DL News reported. A three-judge panel sentenced the developer to five years and four months in prison. “Tornado Cash in its nature and functioning is a tool intended for criminals,” one of the judges overseeing the case reportedly said.
Bitcoin is replicating the same path as it did after the 2016 Bitcoin halving event, with one indicator signaling it may be nearing its local bottom and another indicating it could reach $ 350,000 during “the peak” of this cycle, according to crypto traders. Rekt indicates that the reaccumulation range at this point of the cycle is any price below $ 61,081, which Bitcoin is currently trading below, at $ 60,901, according to CoinMarketCap data.
Crypto Is A Major Election Issue For 20% Of Voters: DCG Survey Crypto is emerging as a hot topic in the U.S. presidential election this year, with many voters looking forward to hearing their candidates takes on the asset class. Per a Digital Currency Group (DCG) survey of 1201 registered voters conducted last month, about one in five voters view crypto as a major issue in the 2024 election. Roughly 40% of voters said they want their candidates to talk more about crypto, with most respondents agreeing that crypto regulation needed an “overhaul.”.
Crypto Custody Tech Firm Fireblocks Seeks New York-Regulated Trust Company Cryptocurrency safekeeping specialist Fireblocks plans to establish a limited-purpose trust company under the purview of the New York Department of Financial Services (NYDFS). The New York-based company is also creating a network of licensed custodians, the Global Custodian Partner Program, which will launch this quarter with an initial group of companies based in the U.S., the United Arab Emirates, Britain, Singapore, Thailand and Australia.
Robinhood Wells Notice Shouldn’t Deter Eventual Approval of an Ether Spot ETF: JPMorgan The Well’s Notice issued to trading platform Robinhood (HOOD) by the U.S. Securities and Exchange Commission (SEC) should not pose an obstacle to the eventual approval of spot ether (ETH) exchange-traded funds (ETFs), JPMorgan (JPM) said in a research report on Wednesday. Source
MoonPay partners with BitPay to streamline crypto transactions The web3 fintech firm MoonPay and the crypto payments platform BitPay have partnered to facilitate easier crypto transactions. According to a social media post from MoonPay, the partnerships aim to make selling crypto faster and easier and streamline how users send crypto to their bank account or debit card.
Ethereum Developers Target Ease of Crypto Wallets With 'EIP-3074' As blockchain teams strive for the holy grail of mainstream adoption, making crypto wallets easier to use is suddenly at the top of the agenda. Ethereum developers have been moving along with their discussions and inclusions of certain Ethereum Improvement Proposals (EIPs) for the blockchain’s next big hard fork, Pectra.
Ethereum Developers Target Ease of Crypto Wallets With 'EIP-3074' As blockchain teams strive for the holy grail of mainstream adoption, making crypto wallets easier to use is suddenly at the top of the agenda. Ethereum developers have been moving along with their discussions and inclusions of certain Ethereum Improvement Proposals (EIPs) for the blockchain’s next big hard fork, Pectra.
Kenyan President Requests 💰 Bitcoin Miner Marathon Digital to Review Nation’s Cryptocurrency Regime Kenyan President William Ruto recently announced that his government has requested Bitcoin miner Marathon Digital to review the country’s cryptocurrency regime. Ruto stated that the U.S.-based Bitcoin miner will also discuss electricity usage in cryptocurrency mining with the Kenyan Energy Ministry. The apparent acceptance of crypto and Bitcoin mining by the Ruto-led Kenyan government seems to be a shift from the stringent approach previously adopted by the Central Bank of Kenya (CBK) and other government entities.
Coinbase faces new lawsuit over alleged investor deception Coinbase crypto exchange and its CEO, Brian Armstrong, face a new class-action lawsuit alleging investors were deceived into buying securities and claims the company’s business model is illegal. The lawsuit filed in the United States District Court for the Northern District of California San Francisco Division, representing plaintiffs Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi and Brett Maggard from California and Florida, alleges that Coinbase’s digital asset sales knowingly violated state securities laws since the company’s inception.
Bitcoin's Rally to $ 64,000 Triggers $ 26.65 Million Short Squeeze in 4 Hours The price of bitcoin (BTC) increased by 4.5% against the U.S. dollar on Friday, rebounding from last week’s decline when it fell beneath the psychological $ 60,000 mark. Despite this 4.5% rise over 24 hours, BTC prices remain 4.3% below their level from seven days prior. After stabilizing for nearly two days, the upward movement of BTC began at 8 a.m. Eastern Time (ET) on Friday.
BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs Financial institutions are holding diligence and research conversations, with BlackRock playing an educational role, said Robert Mitchnick, the firm's head of digital assets. BlackRock has been talking about bitcoin to these sorts of institutions for several years. While becoming the biggest spot bitcoin ETF would be an impressive milestone, BlackRock says it isn’t really focused on the size competition with Grayscale’s GBTC.
Binance co-founder Changpeng Zhao says crypto industry has 'entered a new phase' Binance co-founder Changpeng Zhao, commonly known as CZ, expressed his thanks to his supporters following his sentencing to four months in prison over breaking compliance rules. Zhao was sentenced in Seattle on Tuesday after pleading guilty to anti-money laundering violations. He has also agreed to pay a $ 50 million fine. The former Binance CEO said that he plans to spend the next chapter of his life on education, where he has started a project called Giggle Academy.
Bitcoin market absorbs 1 million BTC in 5 months Bitcoin currently trades approximately 20% below its all-time high, the more compelling narrative unfolds within the dynamic flow of coins between short-term holders (STHs) and long-term holders (LTHs). LTHs, holding Bitcoin for over 155 days, typically accumulate during bear markets and distribute during bulls. Their supply peaked at 14.9 million BTC in December 2023 before dropping to 13.9 million in April 2024.
Hong Kong’s Bitcoin and Ethereum ETFs launch with lower than expected trading volumes Hong Kong’s debut of Bitcoin and Ethereum exchange-traded funds (ETFs) commenced with modest trading volumes, tallying up to 87.58 million HKD, equivalent to $ 11.19 million, based on Hong Kong Stock Exchange data. This trading volume falls significantly short of the issuers’ initial expectations, which anticipated volumes surpassing $ 100 million. Moreover, the trading volume pales compared to the US debut, where the 11-listed spot Bitcoin ETF products saw $ 4.6 billion in trading volume.
Bitcoin Could Fall to $ 50K in ‘Correction Mode,’ Says Analyst Bitcoin prices are in retreat again during Asian trading on Monday morning and analysts are predicting more pain ahead as the correction deepens. Bitcoin has fallen back to more than 15% down from its mid-March peak, dropping to a ten-day low of under $ 62,000 on Monday morning. On April 28, an analyst feed ‘Stockmoney Lizards’ noted that the halving was over, but bitcoin continues to print red candles.
Arkham Intel finds wallets associated with Wisdomtree's Physical Bitcoin ETP WBIT The blockchain data tracking firm Arkham Intel found wallets associated with WBIT, a physical Bitcoin exchange-traded product (ETP) from the asset manager WisdomTree. "WisdomTree Physical Bitcoin is a physically backed exchange-traded product (ETP) designed to offer shareholders a simple, secure and cost-efficient way to gain exposure to the price of Bitcoin,” according to WBIT’s website. “The ETP provides for easy investor access, tradability, transparency and institutional custody solutions with a robust physically backed structure."
SEC cold-shoulders Ethereum ETF applicants in meetings, dashing hopes of May approval The US SEC is expected to reject several applications for exchange-traded funds (ETFs) based on Ethereum, the world’s second-largest cryptocurrency, Reuters reported on April 25, citing industry insiders. Firms such as VanEck and ARK Investment Management, among others, have submitted applications to the SEC for ETFs that would directly track the spot price of ether.
Bitcoin miner revenue holding steady following halving Perhaps the most significant moment of the past week was the bitcoin halving, which happened late in the day on Friday, April 19. As a reminder, the halving happens every 210,000 blocks, or roughly every four years, given that a block gets mined around every 10 minutes and decreases the reward for mining a bitcoin block by half, slowing bitcoin’s issuance.
Bitcoin Runes made up 57.7% of transactions on halving day Bitcoin halving, Runes have sparked intense debate and speculation by embedding rich data within Bitcoin's ledger, shifting how users interact with the blockchain. By leveraging transaction augmentation, Runes can enhance transactions with diverse data, from simple messages to complex scripts, showing a remarkable capability distinct from other Bitcoin-enhancements like Ordinals and BRC-20 tokens
Bitcoin's halving created the most valuable blocks in history, aside from one Bitcoin's halving may have split the reward paid to miners in half, but a fierce battle for blockspace generated millions of dollars of payments to miners as the halving commenced. In fact, aside from an apparently accidental $ 3 million overpayment last November, all of Bitcoin's top 10 most valuable blocks have been mined since the halving, as first flagged by X user Clark Moody, in terms of U.S. dollar value at the time the block was mined.
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