BitDigest May 17 · Issue #903

May 17, 2021
  • Bitcoin falls to 3-month low on one word tweet from Elon Musk; BTC dominance breaks below 40%
  • Argentina looking for monthly trading records from digital currency exchanges
  • Iran continues to issue regulations driving mining capacity into the government’s control
BitDigest May 17 · Issue #903

Invitation to NFT Art Gallery

I have been writing about NFTs and my interest in digital art for the past few years, but many people are still having trouble understanding this new trend. My friends at Signum Growth Capital and ARK Invest are hosting a digital art gallery event looking at NFT’s and speaking to artist, developers and investors on digital platforms including DecentralandCryptovoxels, and Spatial Web.

Everyone is welcome. The event is this Wednesday, May 19th, starting at 4:30 PM EST and will be live streamed on YouTube and Discord for people who are unfamiliar with navigating these virtual platforms. Please RSVP if you are interested so the live stream details can be forwarded.

The Headlines

BitDigest May 17 · Issue #903

Argentina Requiring Crypto Exchanges to Disclose Customer Data

www.decrypt.co
Argentina’s tax authority plans to require monthly reporting on client data, balances and all crypto transactions from digital currency exchanges.
BitDigest May 17 · Issue #903

Unauthorized Iranian Household-Miners to be Fined

www.tehrantimes.com
Iran’s Energy Ministry plans to raise revenue by targeting unauthorized crypto-miners operating on household electricity in an effort to compensate for weather-related lower power generation. In other Iranian news, the Central Bank and Ministry of Economic Affairs and Finance have asked the National Tax Administration to provide a profile of crypto exchange owners to parliament.
BitDigest May 17 · Issue #903

Russia Will Not Provide Open Access to Blockchain Voting Records

www.coindesk.com
Russia’s Central Election Commission has reneged on its promise to share data from local elections and will now no longer allow observers to access data on an open and transparent voting-based blockchain.
BitDigest May 17 · Issue #903

Musk 'Indeed' Tweet Starts Weekend Sell Off

www.twitter.com
🐦Bitcoin prices started a crypto sell off yesterday when Elon Musk responded to a tweet suggesting that Tesla (NASDAQ: TSLA) may have sold its bitcoin because of the negative feedback Musk has received from his original energy-focused tweet with the single world “indeed.” Early this morning, Musk clarified his tweet to report that “Tesla has not sold any Bitcoin.”
BitDigest May 17 · Issue #903

Square Remains 'Forever' Committed to Bitcoin

www.twitter.com
🐦📈Square (NYSE: SQ) CFO Amrita Ahuja tweeted that the payment platform’s bitcoin strategy has not changed and the firm remains “deeply committed” to the bitcoin community. CEO Jack Dorsey added that “bitcoin changes ‘everything’ for the better” and SQ “will forever work to make bitcoin better”
BitDigest May 17 · Issue #903

BME to Pilot SME Financing on Blockchain

www.finextra.com
📈Bolsas y Mercados Españoles (BME), Spain’s stock market, plans to test a platform that helps small and medium-sized businesses raise financing through the issuance of loans and convertible notes represented as digital assets on the Ethereum blockchain network.
BitDigest May 17 · Issue #903

Greenidge Mining Operations to Become Carbon Neutral

www.prnewswire.com
New York state-based crypto miner Greenidge Generation announced plans to become an entirely carbon neutral bitcoin mining operation by voluntarily purchasing carbon offsets from a portfolio of US greenhouse gas reduction projects.
BitDigest May 17 · Issue #903

DarkSide Operations Shuttered

www.bleepingcomputer.com
In an apparent retaliation to the ransomware attack on the Colonial Pipeline, DarkSide – the alleged perpetrator of the hack – has lost its access to their public data leak site (blog), payment system and CDN servers.
BitDigest May 17 · Issue #903

Dapper Labs Accused of Breaking US Security Laws

www.crowdfundinsider.com
A class-action law suit has been filed in New York State alleging that Dapper Labs and its Founder and CEO Roham Gharegozlou violated federal securities laws with the promotion, offering and sale of NBA Top Shot Moments.

Market Data

BitDigest May 17 · Issue #903

Size of Average Ransom Payment Request Increased Over Past Year

www.blog.chainalysis.com
Blockchain intelligence firm Chainalysis has released a preview of its mid-year update on Ransomware reporting an increase in the total amount paid in 2020 ($406 million) and an amount of $81 million paid-to-date in 2021; the average ransom payment increased 2.7x from $20,000 in Q1’20 to $54,000 in Q1’21.
BitDigest May 17 · Issue #903

US' Largest Mining Operation Already Carbon Neutral

www.bloomberg.com
📺Core Scientific, the US’s largest blockchain infrastructure and hosting company with 670MW under contract, is operating 100% carbon neutral with 56% of its power generated from renewable sources and the balance offset through purchases of national wind renewable energy certificates.

Exchange, Custody and Product News

BitDigest May 17 · Issue #903

Anchorage Adds AAVE, BAL, NXM, UNI and YFI

www.medium.com
Institutional digital asset custodian Anchorage Digital announced clients will be able to hold five new DeFi tokens on its platform: Aave (AAVE), Balancer (BAL), Nexus Mutual (NXM), Uniswap (UNI), and Yearn (YFI).

Thoughts on the Ecosystem

BitDigest May 17 · Issue #903

Tether Reserve Report Caused Market Sell Off

www.twitter.com
🐦Wyoming blockchain advocate Caitlin Long tweeted that Tether’s (USDT) release of its reserves and high allocation to un-identified commercial paper was the real driver of last week’s sell off – not Elon’s tweet or the news that Binance is under investigation from US authorities – as hedge funds were required to sell crypto-assets “to reduce their total risk exposure.”

Daily Cartoon

BitDigest May 17 · Issue #903

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