6 May

“Just one day after crypto and traditional markets soared on Federal Reserve Chairman Jerome Powell’s comment that the U.S. central bank wasn’t likely to raise interest rates by more than 50 basis points (0.5 percentage point) at coming meetings, the dynamics of financial markets quickly changed.

Bitcoin dropped more than 7% on Thursday to a 24-hour low of $36,640. That was the lowest price since Feb. 24 and marked the biggest one-day decline since March 4. The decline was in line with a broad fall in the prices of stocks and bonds.

Inflation at its fastest pace in four decades remains a nagging concern, and the Fed’s approach to tackle the issue is still hawkish at a time when doubts are growing whether the U.S. central bank can engineer a proverbial “soft landing” – cooling the economy just enough to ease inflationary pressures without causing an outright recession.

The yield on the 10-year U.S. Treasury pushed above 3%, its highest level since 2018, adding to the economic headwinds by increasing borrowing costs for everything from mortgages to corporate loans and commercial real estate.”


“The approval came as the firm used a different exchange act application, which also helped Teucrium get the green light for a similar product. Both companies filed under the so-called “33 Act.”

Spot bitcoin ETF applications are uniformly filed under the “33 Act,” and have been dismissed without exception by the SEC as being too risky for investors for various reasons. The approval of what is now two 33 Act bitcoin futures ETFs will raise industry hopes that a spot bitcoin ETF approval isn’t far behind.”

See Also: US House Panel to Weigh FTX Proposal on Clearing Customers’ Swaps Trades


The announcement on Thursday afternoon comes after the IMF last month approved a $45B loan facility for Argentina that stipulated the country would discourage the use of cryptocurrencies.

The BCRA statement says banks are prohibited from offering services for any digital assets not regulated by the central bank, and since there currently are no digital assets thus regulated, the move amounts to a de facto ban.

The announcement comes just days after Banco Galicia, the largest Argentinian private bank by market value, added the option to buy and sell cryptocurrencies on its platform. Also this week, domestic digital bank Brubank began offering similar services.”

See Also: NFT Issuers Could Have to Centralize and Register Under EU’s MiCA Rules, France Warns


“Binance committed $500 million and venture capital firm Sequoia Capital $800 million to help finance Elon Musk’s $44 billion takeover of social media platform Twitter (TWTR). Around $7.1 billion has been committed by 19 different parties.

Binance founder Changpeng “CZ” Zhao referred to the commitment as ‘a small contribution to the cause.Following Musk’s initial offer to buy Twitter last month, Zhao tweeted that Musk should ‘Privatize it, issue a token, decentralize it,’ adding that a priority should be to reduce spam and scams on the platform.”

See Also: Twitter’s Bluesky Releases First Code for Decentralized Social Media Network


“Brink’s (BCO), the company best known for moving valuables around in armored trucks, is bringing a physical security layer to the safekeeping of digital assets. Partnering with Swiss cryptocurrency custody firm Metaco, the 162-year-old firm is helping institutions prep for worst-case scenarios.

Institutions investing billions on behalf of clients can have backup master keys fragmented and stored on multiple smartcards, which can be reconstituted and loaded into an HSM to recover the private keys.

Brink’s has custody locations around the globe. So it was a very natural fit for the physical backup of private keys to be stored in a distributed way across multiple vaults by Brink’s.”

See Also: Typo Moves $36M in Seized JUNO Tokens to Wrong Wallet


The Steam-like platform makes it easier for new users to try play-to-earn games.

LootRush offers a quick-start platform for blockchain games, which typically have a more complicated on-boarding process than traditional video games. The blockchain-agnostic platform also offers non-fungible token (NFT) rentals for game play, which cuts the cost for a new gamer and earns yield for the NFT owner.

A friend of mine tried to play a crypto game last year, and it took him about three hours before he gave up even after spending $1,000 on NFTs. Bringing a lot more gamers into the space and making it mainstream requires making the experience very easy and fast.”