BitDigest May 21 · Issue #907
- Bitcoin and ether back in the green after a tumultuous week
- The US Federal Reserve plans to issue a CBDC discussion paper this summer
- Central bankers issue crypto warnings in aftermath of market sell-off
The Headlines
Fed to Issue Discussion Paper on CBDCs
Businesses Receiving Crypto >$10k to be Reported to IRS
Hong Kong May Limit Crypto Trading to 'Professionals'
Crypto Volatility is Obstacle to Acceptance
Argentina Issues 'Financial Losses ' Warning
Australia Issues 'High Risk' Warning
Dutch National Bank Eliminates Wallet Verification Requirement
OCC Issues Fraud Warning
BIT Mining Investing in Texas Data Center
U Penn Receives and Will Hodl Bitcoin Donation
What Did Elon Tweet Today?
Mergers & Acquisitions
Coinbase May Buy Osprey
Exchange, Custody and Product News
Kraken Adds BNT, SUSHI and ANKR
Thoughts on the Ecosystem
Cryptocurrency is 'Here to Stay'
Daily Cartoon
Reports you may have missed
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC1.36% (-0.28%) trading at $64k and ETH1.50% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC1.36% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC1.36% continued its upward trend over the weekend, now trading just below $66k. ETH1.50% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-0.86% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...