Banks and Institutions
The Ministry of the Interior produces a white paper on Blockchain
The Ministry of the Interior in France produces a white paper “Blockchain technology, a revolution for identification.” The paper focuses on the benefits of using this technology to manage identity documents, fight counterfeiting, and ensure the privacy of citizens. We look forward to the implementation.Source : Gouvernement
China’s mining companies suspend operations
Following the Chinese government’s announcements to limit or ban Bitcoin mining and trading, many Chinese mining companies such as HashCow and BTC.TOP have halted at least part of their operations in China and are looking for locations in other countries. This news from the Chinese government has had a heavy impact on the price of Bitcoin, and by correlation on the market price over the past few days.Source : Reuters
Towards uniformity of US regulations for cryptocurrencies?
U.S. regulators want to create a collaborative working interagency with the goal of founding a unified banking framework and set of definitions related to cryptocurrencies. One representative stated that cryptocurrencies are subject to fragmented regulation by different regulators. The goal, therefore, would be to bring cryptocurrencies under more unified regulations than they are today.Source : The Block Crypto
Joe Biden wants traditional tax standards for cryptocurrencies
10000$. This is the limit beyond which companies in the United States will have to report cryptoasset transactions to the IRS. Joe Biden wants traditional tax standards to be applied to this market. The cryptocurrency ecosystem would be particularly worrisome, as tax evasion is particularly prevalent and difficult to detect.Source : The Block Crypto
Launch of Arbitrum’s Main Net on May 28
Arbitrum, a layer 2 solution (like Polygon, OMG, Loom…) inspired by other platforms integrating Optimistic Rollup (Optimism…), is launching its Main Net this Friday May 28th. Some projects have already announced that they will raise their main net at the same time, or shortly after (Mdex, the perpetual contracts platform in particular).Source : Twitter
The Arbitrum team has announced that there is no governance token in the works. It is now important to see what traction it will have in the future, especially in view of the arrival of the EIP 1559 on Ethereum.
BlockFi Inc. mistakenly gives away $10 million to its users
Startup BlockFi Inc mistakenly sent the equivalent of $10 million in Bitcoin to its users as part of a promotion. Instead of sending dollars, BlockFi paid its users in Bitcoin, which logically caused pricing errors. The mentioned $10 million amount is decreasing as users return the funds, however some have no intention of returning anything.Source : Al Jazeera
Opium and UMA Join Forces to Become SpaceX Insurance
Crypto derivatives protocol Opium and decentralized finance platform UMA have announced they are working together to provide insurance products to cover SpaceX flights in the event of a failed launch. While one insurance company is said to have already offered 5% of the value of the payload. The Opium – UMA alliance tries to compete with the offers already on the table by proposing more competitive prices.Source : Coindesk
Elon Musk Acts to Green Bitcoin
Elon Musk wants to make mining green. He has just created the Bitcoin Mining Council, with several representatives of the mining industry in the United States, with the aim of increasing transparency in the energy consumption of this industry, and promoting the use of renewable energy for its development.Source : Cryptonews
New data center to house miners in Texas
A new 300-megawatt Texas data center named Compute North will house the bitcoin miners acquired by Marathon Digital Holding, adding about 10.37 EH/s to the facility’s hashing power. Marathon says its operations at the facility will be 70 percent carbon neutral.Source : Coindesk
New attacks on the BSC blockchain
The DeFi protocols of the BSC blockchain are still under attack. An attacker managed to siphon off the DeFi PancakeBunny platform and estorcised the equivalent of $200 Million, plunging the price of the asset by nearly 96%. As for Venus Protocol, a manipulation of the price of XVS “resulted in liquidations of over $200 million and a bad debt of over $100 million.”Source : Cryptonews
Ethereum was vulnerable to attack for 18 months
While the Berlin update rolled out last month on Ethereum was primarily aimed at improving the Ethereum protocol, Martin Holst Swende, head of security at the Ethereum Foundation, said the update also addressed a significant vulnerability that could have easily brought the entire protocol to a halt. This risk had been present for 18 months, although unknown to the general public. This information was revealed because the risk would now be low enough.Source : Cryptonews
Figures of the week
1.93 billion dollars
Ethereum miners will break their revenue record during the month of May, with $1.93 billion, and the month is not over.
New historical high
New record for the number of queries for the term “cryptocurrency”, not only in the US but also in the rest of the world.
45,6%. This is Bitcoin’s current market dominance. Last week, it stood at 39.1%.
460 billion dollars
460 billion dollars. That’s the capitalization lost on the crypto market in 24 hours on May 19.
Only 1% of active Ethereum addresses have interacted with decentralized finance protocols.