BlackRock Bitcoin ETF records $290 million inflows on Tuesday
On May 21, spot Bitcoin ETFs accumulated nearly $300 million in
net inflows. BlackRock’s popular Bitcoin ETF (NASDAQ:IBIT) saw a
significant increase in activity, with inflows of over $290 million
on Tuesday, the highest daily amount since April 5. IBIT’s total
holdings now exceed $19 billion, driven by positive expectations
about the approval of an Ether (ETH) ETF in the US and Donald
Trump’s presidential campaign. The Grayscale Bitcoin Trust
(AMEX:GBTC) managed to extend a four-day streak without net
outflows, providing temporary relief after being one of the biggest
losers since the products’ launch in January. Only the Bitwise ETF
(AMEX:BITB) and the VanEck ETF (AMEX:HODL) recorded outflows, of $4
million and $5 million, respectively. Bitcoin peaked at $70,659.99
earlier, slightly retreating after hitting $71,400 on Tuesday.
Currently, BTC is priced at $69,633, showing a drop of
approximately 0.71% in the last 24 hours.
Gensler opposes FIT21 bill, but White House seeks dialogue
Gary Gensler, chairman of the SEC, criticized the FIT21 Act,
stating it would weaken consumer protections in the cryptocurrency
market. The Biden administration also opposed it but showed
willingness to work with Congress on balanced regulation for
digital assets. The House of Representatives votes on the bill
today, May 22. Despite the criticisms, the White House does not
intend to veto the bill if passed.
Potential approval of spot Ether ETF: impacts and expectations
The SEC is about to decide on the first spot Ether ETF, with a
deadline of May 23. Approval could revolutionize crypto regulation,
bringing significant institutional capital inflows and boosting ETH
prices. Experts expect a positive impact on the cryptocurrency
market despite possible initial setbacks. The decision could signal
a significant shift in the US regulatory approach.
WisdomTree and 21Shares launch crypto ETPs on London Stock Exchange
WisdomTree and 21Shares announced the launch of crypto ETPs on
the London Stock Exchange after approval by the UK Financial
Conduct Authority (FCA). The products, offering exposure to Bitcoin
(COIN:BTCUSD) and Ether (COIN:ETHUSD), will be listed on May 28.
The approval marks a milestone in institutional adoption of
cryptocurrencies in the UK, despite FCA warnings about the
associated risks.
Bitcoin Pizza Day: The first Bitcoin purchase
On May 22, 2010, Laszlo Hanyecz from Florida paid 10,000
bitcoins for two Papa John’s pizzas, marking the first commercial
transaction with digital currency. Today, those bitcoins would be
worth about $700 million. Besides this historic purchase, Hanyecz
also significantly contributed to Bitcoin’s development, including
translating the code for Apple’s operating system and pioneering
GPU mining.
Worldcoin ordered to cease iris scans in Hong Kong
Worldcoin was instructed by the Privacy Commissioner for
Personal Data (PCPD) to halt iris scanning in Hong Kong, citing
data protection violations. The operation involved collecting iris
and facial images from 8,302 individuals. The project also faces
suspension in Kenya due to similar concerns.
Near Labs develops AI to empower users in creating DApps
Illia Polosukhin, co-founder of Near Labs, revealed the
company’s vision to empower people without coding skills to create
DApps through an AI agent. In an interview with Cointelegraph,
Polosukhin explained that AI would allow anyone to turn their ideas
into functional apps by writing the necessary code. Near Labs also
addresses AI risks, promoting open-source models to protect users
against corporate manipulations.
StarkWare announces Ethereum-compatible zkEVM named Kakarot
StarkWare, developer of the Starknet blockchain, revealed plans
to launch the Ethereum-compatible zkEVM Kakarot. In testing and
accessible via the Starknet Stack, Kakarot will allow developers to
use Solidity, facilitating DApp creation on Starknet. Currently,
only selected developers have access to the Kakarot zkEVM.
WEF warns about CBDCs vulnerability to quantum attacks
The World Economic Forum (WEF) warned about the potential threat
of quantum computers to central bank digital currencies (CBDCs),
especially due to their ability to decipher encryption systems.
Although quantum computing is still in development, with several
proofs of concept in laboratories, the WEF highlights that digital
assets can be particularly vulnerable. The entity suggests that
central banks develop “cryptographic agility” in their systems to
protect against future quantum cyberattacks.
Change of prison location for former FTX CEO Sam Bankman-Fried
Authorities plan to transfer Sam Bankman-Fried, former FTX CEO,
from New York to a federal prison in California, near his parents’
residence. According to the Wall Street Journal on May 22, although
his lawyers requested he remain in New York during the appeal
process, it is likely that Bankman-Fried will serve most of his
25-year sentence at the Federal Correctional Institution in
Mendota.
Blockchain at the forefront: transforming industries and combating
digital challenges
Blockchain is transforming sectors from supply chain management
and healthcare to voting systems and digital authentication. AWS,
for instance, implemented the “Track and Trace” service with Amazon
Managed Blockchain, which scales automatically to support millions
of transactions across thousands of applications. Besides promoting
scalability and cost reduction, blockchain enhances transparency
and simplifies process automation. Mondelēz International
(NASDAQ:MDLZ), which owns brands like Oreo and Cadbury, joined the
Hedera Council to use blockchain for sustainability and customer
engagement innovation. Additionally, as generative AI advances,
increasing deepfake risks, blockchain, with its transparency,
decentralization, security, and immutability, presents a promising
solution to authenticate content and information, offering an
effective means to combat these emerging risks in the digital
age.
Stripchain raises $10 million to improve UX in the crypto industry
Startup Stripchain raised $10 million to develop an
interoperability protocol that enables chain abstraction at scale,
improving user experience (UX) in crypto. Led by Sora Ventures, the
round included investors like Santiago Santos and Ryan Selkis. The
goal is to facilitate transactions without users worrying about the
network used, promoting broader Web3 adoption. The Stripchain
testnet will be launched soon.
Trump accepts cryptocurrency donations for 2024 presidential
campaign
Donald Trump, Republican presidential candidate, announced he
will accept donations in Bitcoin (COIN:BTCUSD), Ether
(COIN:ETHUSD), Dogecoin (COIN:DOGEUSD), Solana (COIN:SOLUSD), and
other cryptocurrencies, becoming the first major candidate to adopt
digital currencies. Donations will be processed via Coinbase
Commerce. In a statement, Trump highlighted that this new option
will help boost his campaign. The move represents a reversal in his
previous stance on cryptocurrencies, which he once described as a
“fraud” and a “disaster waiting to happen.”
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