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💰 Senator Lummis Posts Bitcoin Laser Eyes After Passed Crypto Legislation U.S. Senator Cynthia Lummis recently posted “Bitcoin laser eyes” on X, showing her support for laws supporting the cryptocurrency. U.S. Senator Cynthia Lummis, representing Wyoming, is well-known for her advocacy of Bitcoin. She views the asset as a dependable store of value and a safeguard against inflation. Serving on the Senate Banking Committee, she aims to enforce a regulatory framework that fosters crypto innovation while safeguarding consumers. Source https://t.me/CryptoMarketTime

🏦 Coinbase Shares Sink 9% on Report CME to Consider Listing Spot Bitcoin Shares of Coinbase dropped nearly 8% to $202.49 during U.S. morning hours on Thursday after a Financial Times report that the Chicago Mercantile Exchange (CME) might soon offer spot bitcoin trading amid strong interest from clients. Cryptocurrencies were up on the day. The CoinDesk 20 Index, which tracks 20 of the largest digital tokens by market capitalization, is 0.91% higher over the past 24 hours. Source https://t.me/CryptoMarketTime

🪙 QCP expects current momentum to push the bitcoin price back to all-time highs QCP Capital today stated that it expects the price of bitcoin to ride back to the highs of $74,000 after the latest Consumer Price Index print in the United States saw risk assets surge yesterday. "We expect bullish momentum here that could take us back to the highs of 74k," the institutional-focused firm wrote in the Telegram channel QCP Broadcast, citing buy-side demand. Source https://t.me/CryptoMarketTime

🇺🇸 DOJ charges 2 people over $25 million ETH theft via MEV exploit The DOJ arrested and charged two individuals on May 15 over an alleged $25 million MEV exploit that occurred on the Ethereum blockchain. The defendants’ plan involved several steps focused on Ethereum’s maximal extractable value (MEV) — particularly the MEV-Boost software many Ethereum validators use to optimize transactions as searchers seek profitable arbitration opportunities using MEV bots. Source https://t.me/CryptoMarketTime

🪙 Filing shows SEC potentially considering ETH a security in likely ETF denials, analysts say Van Buren Capital General Partner Scott Johnsson unearthed Tuesday an overlooked detail in a March filing, resurfacing the suggestion that the U.S. Securities and Exchange Commission may consider ether a security ahead of expected spot exchange-traded fund denials this month. “The obvious purpose is to potentially deny on the basis that these spot filings are improperly filed as commodity-based trust shares and do not qualify if they are holding a security,” Johnsson added. Source https://t.me/CryptoMarketTime

🪙 Ether options traders eye calls above $3,600 for June expiry The term structure of open interest in ether options reveals a concentration of calls expiring at the end of June, comprising over 617,000 contracts with a notional value exceeding $1.8 billion, according to Deribit data. The significant number of call contracts and their substantial notional value could reflect confidence in ether's potential to appreciate by the end-of-June expiry date. Source https://t.me/CryptoMarketTime

💰 Bitcoin miners poised to offload BTC as mining revenue plunges: Kaiko data A bitcoin selloff likely looms large as the token’s miners face pressure to offload their holdings amid a steep revenue drop-off, crypto research and analytics firm Kaiko’s data shows. Bitcoin miners largely rely on two revenue streams: mining rewards and transaction fees. April’s halving event, the long-ago coded reduction in mining rewards to 3.125 BTC from 6.25 BTC, posed a unique headwind for miners trying to cover their overhead. Source https://t.me/CryptoMarketTime

⬜️ Founder of dYdX steps down as CEO of firm behind decentralized exchange Antonio Juliano, founder and CEO of dYdX Trading Inc., the developer behind the decentralized derivatives exchange dYdX, has stepped down as CEO, citing personal and professional reasons. “The change wasn’t sudden to the internal team, employees, or stakeholders. It had been in discussion," a spokesperson told The Block. Source https://t.me/CryptoMarketTime

📣 Franklin Templeton CEO says all ETFs and mutual funds will be on blockchain Jenny Johnson, the president and CEO of Franklin Templeton, a financial firm with $1.6 trillion in assets under management, recently reiterated her pro-blockchain stance during an interview with Bloomberg anchor David Westland during the 27th Annual Milken Institute Global Conference in California. Among the hot topics discussed by the two, Johnson had plenty to say on tokenization and generative artificial intelligence. Source https://t.me/CryptoMarketTime

🇺🇸 DOJ Said to Snub Sullivan & Cromwell, Appoint Competitor to Coveted 🟠 Binance Monitorship: Bloomberg The Department of Justice (DOJ) has chosen a London-based consulting firm for a coveted three-year monitorship of Binance, according to a Friday report from Bloomberg citing anonymous sources. DOJ earlier this year, the crypto exchange agreed to pay $4.3 billion in fines and appoint an independent compliance monitor. The firm’s CEO and co-founder Changpeng “CZ” Zhao also agreed to step down as part of the agreement, and was sentenced to four months in prison. Source https://t.me/CryptoMarketTime

🪙 Ethereum transaction fees hit record low as Layer-2 networks siphon activity The average transaction fee on Ethereum has reached record lows as more activity moves to the Layer-2 (L2) networks on the chain. According to Ultrasound.money data, the average gas has dropped to 4.81 Gwei — the lowest level since the network completed the Merge event in 2022. Market observers attributed this decline to increasing activity on L2 networks following the completion of the Dencun upgrade. The Dencun upgrade significantly reduced fees for L2 networks, making transacting on the base layer less attractive. Source https://t.me/CryptoMarketTime

💰 Bitcoin Advocate Says ASIC Devices’ Inflexibility Makes AI Involvement Unlikely for Bitcoin Miners According to Joe Downie, the chief marketing officer at Nicehash, bitcoin miners struggling to stay afloat after the halving are unlikely to support or become involved with artificial intelligence (AI). This is because their application-specific integrated circuit (ASIC) miners now “only allow for mining on one algorithm.” Furthermore, Downie argued that bitcoin mining devices are not “designed for flexibility,” and hence, they cannot be used to support AI infrastructure. Source https://t.me/CryptoMarketTime

🇳🇬 Nigeria claims 🟠 Binance’s bribery allegations are ‘blackmail’ The Nigerian government has refuted bribery allegations made by crypto exchange Binance, which were described as baseless and an attempt to distract from the company’s legal challenges in the country, according to a press statement released on May 8. Binance CEO Richard Teng recently alleged that Nigerian officials demanded $150 million in crypto to settle an ongoing criminal investigation against the company. Source https://t.me/CryptoMarketTime

📊 Crypto Monthly Trading Volume Drops for First Time in Seven Months to $6.58T Cryptocurrency trading volume cooled in April, registering the first decline in seven months as escalating geopolitical tensions and slower inflows into U.S.-listed spot ETFs weighed over the digital assets market. The cumulative volume in spot and derivatives markets fell by 43.8% to $6.58 trillion, a sharp retracement from March’s record high of $9.12 trillion, according to a report by London-based digital assets data provider CCData. Source https://t.me/CryptoMarketTime

⚪️ Robinhood's Q1 Crypto Trading Volume Surged 224% as SEC Action Looms Robinhood (HOOD) saw a first-quarter notional crypto trading volume of $36 billion, up 224% from year-ago levels. That led to a 232% increase in crypto-related a revenue to $126 million, a primary factor, said the company, in driving overall first quarter transaction-based revenue up 59% year-over-year to $329 million. Source https://t.me/CryptoMarketTime

🪙 Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum Ethereum co-founder Vitalik Buterin, together with co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett, have proposed Ethereum Improvement Proposal (EIP) 7702 as an alternative to EIP-3074, aiming to refine account abstraction on the Ethereum network. EIP-7702 suggests a novel transaction type that enables externally owned accounts (EOAs) – normal Ethereum account addresses – to temporarily function as smart contract wallets during a transaction, with their original state restored afterward. Source https://t.me/CryptoMarketTime

🪙 Proposal for Grayscale's Ethereum Futures Trust ETF has been withdrawn A proposal to list and trade shares of Grayscale's ether futures exchange-traded fund has been withdrawn, according to a new document filed on Tuesday. The application for the Grayscale Ethereum Futures Trust ETF, which was filed by NYSE Arca, Inc., in September last year, was withdrawn on May 3, according to a Securities and Exchange Commission filing. Source https://t.me/CryptoMarketTime

💰 Bitcoin’s April plunge leads to $2.92 billion in spot outflows Bitcoin faced massive selling pressure in April 2024, recording its most significant monthly decline of 15% since November 2022, when it dropped over 16%. CryptoSlate previously analyzed the factors contributing to the dip, finding that the conclusion of the US tax season, compounded by various economic factors, prompted the sell-off. However, Bitcoin rebounded most of its losses in April and May. Source https://t.me/CryptoMarketTime

💰 Two Big Bitcoin Catalysts Could Drive MicroStrategy Stock Gains, TD Cowen Says Bitcoin (BTC) has significant upside potential this month thanks to two big catalysts and Michael Saylor's MicroStrategy (MSTR) stock could surge, too, on its way toward getting "meaningfully higher" by the end of the year, TD Cowen analyst Lance Vitanza said in a note Monday. MicroStrategy reported a net operating loss of $53.1 million for the first quarter of 2024 after taking a digital asset impairment charge of $191.6 million. Source https://t.me/CryptoMarketTime

💰 Bernstein’s Bitcoin Price Prediction of $150K Reaffirmed by Analysts Analysts at investment research firm Bernstein have reaffirmed their prediction that bitcoin (BTC) would hit $150,000 in this bull cycle despite the asset’s retracement in recent weeks. According to a recent report, Bernstein analysts Gautam Chhugani and Mahika Sapra said Bitcoin metrics show the network is in a healthy cycle still in its early stages. Notwithstanding the latest dip, the leading cryptocurrency is far from done. Source https://t.me/CryptoMarketTime

🇳🇬 Nigeria Weighs Tighter Rules on Crypto Market, Calls Meeting The Nigeria crypto market is drawing scrutiny from the government amid worries over unlawful activities and currency manipulation. The country saw a massive $56.7 billion in crypto transactions between July 2022 and June 2023, according to blockchain analysis firm Chainalysis. According to sources, the government may temporarily prohibit peer-to-peer (P2P) cryptocurrency trading to allow for the development of a comprehensive regulatory framework. Source https://t.me/CryptoMarketTime

💰 BTC-e crypto exchange operator pleads guilty to money laundering in the 🇺🇸 U.S. Alexander Vinnik, a Russian national who operated the crypto exchange BTC-e, pled guilty to charges of money laundering conspiracy in the US on May 3, according to a Bloomberg report. BTC-e was one of the world’s largest crypto exchanges between 2011 and 2017. According to the prosecutors, it processed transactions worth $9 billion and had a customer base of over 1 million worldwide. The prosecutors added that BTC-e was used by cyber criminals to transfer, launder, and store criminal proceeds from illegal activities. Source https://t.me/CryptoMarketTime

📣 Crypto trader loses $70.5 million in address poisoning scam, highest recorded yet Blockchain security firm Cyvers Alert reported that an unnamed crypto trader lost 1,155 Wrapped Bitcoin (WBTC), equivalent to $70.5 million worth, to address poisoning. Meir Dolev, the founder and CTO of Cyvers, added that this was “probably the highest value lost due to an address-poisoning scam.” Address poisoning is one tactic malicious entities employ to exploit crypto traders. This nefarious act typically ensnares victims by luring them into transferring digital assets to fraudulent addresses owned by scammers. Source https://t.me/CryptoMarketTime

💰 Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto Marathon has once again set a milestone by mining the largest block ever recorded on the Bitcoin blockchain. Namely, block 841,886, showcased a manifesto of a decentralized technology initiative called Logos, featuring just four transactions with the manifesto. For their efforts, Marathon’s mining pool earned a reward of 3.16977148 BTC, including 0.04477148 BTC, or $2,654.55, collected in transaction fees. Source https://t.me/CryptoMarketTime

🇮🇷 Elizabeth Warren raises concerns over Iran’s crypto mining operations Senators Elizabeth Warren and Angus S. King, Jr. have formally addressed top Biden administration officials in a letter concerning US efforts to combat Iran’s utilization of crypto mining as a means to evade international sanctions. Addressed to Secretary of Defense Lloyd Austin, National Security Advisor Jake Sullivan, and Treasury Secretary Janet Yellen, the letter details concerns over Iran’s increasing capabilities in the sector since it legalized crypto mining in 2019. Source https://t.me/CryptoMarketTime

💰 Jito becomes largest protocol on Solana with $1.4 billion in TVL Liquid staking and MEV infrastructure project Jito has become the largest protocol on Solana, with $1.4 billion in total value locked. At the equivalent of around 10 million SOL, Jito accounts for some 38% of the Solana ecosystem’s $3.7 billion TVL, according to DeFiLlama data. Staking protocol Marinade is second with $1.37 billion in TVL, followed by Kamino, Raydium, and Marginfi at $1 billion, $613 million, and $424 million, respectively. Source https://t.me/CryptoMarketTime

🇬🇧 UK sharpens focus on crypto regulation in latest anti-money laundering report The UK Financial Conduct Authority (FCA)’s recent anti-money laundering and counter-terrorist funding (AML/CTF) efforts have focused heavily on crypto. The UK Treasury said in a May 1 report that the FCA considers crypto firms — like retail and wholesale banks and wealth management firms — to be “particularly vulnerable” to financial crime and at the highest risk for exploitation through money laundering. Source https://t.me/CryptoMarketTime

🟠 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. Source https://t.me/CryptoMarketTime

💰 Celsius Network burns entirety of its CEL holdings, eliminating 94% of total supply Celsius Network burned its CEL holdings, representing the majority of the token supply, on April 30. Etherscan indicates the company burned 652.2 million CEL by sending it to a null address. The burned amount represents 94% of the previous total supply, which amounted to 692.8 million CEL, valued at roughly $83.2 million at current market price. The transaction originated from a wallet controlled by Celsius, based on Arkham Intelligence data. Source https://t.me/CryptoMarketTime

📊 Ether and bitcoin derivatives traders are losing confidence in the potential for higher prices, analyst says According to The Block's Data Dashboard, implied volatility (IV) for ether ATM options has dropped from over 88% to a current IV of around 60% for one week, one month and multi-month expires. IV for bitcoin ATM options for the same expiry ranges has also fallen, from a mid-month high of over 77% to a current reading of below 51%. Source https://t.me/CryptoMarketTime