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ETFs buy 3X new BTC supply — 5 Things to know in Bitcoin this week

Bitcoin is facing renewed calls for a supply shock as exchange reserves hit seven-year lows, and BTC price action focuses on final resistance.

Ethereum dev’s paid EigenLayer role sparks debate on ‘conflicted incentives’

Ethereum researcher Justin Drake said his EigenLayer role is worth “millions of dollars” and some think it could shake up incentives for those working on the blockchain.

Bitcoin would need to hit $93K to flip Silver right now

Silver’s market cap has risen to over $500 billion larger than Bitcoin, despite the cryptocurrency flipping the precious metal just two months ago.

5 of 7 on-chain indicators suggest the bull run is just beginning

On-chain indicators such as the Bitcoin MVRV Z score, Puell Multiple and HODL Waves paint a bullish picture for Bitcoin investors.

Spot Ether ETFs will come down to a 5-person vote: Gensler the decider?

It was speculated that Gensler’s vote secured the launch of spot Bitcoin ETFs in January — and the same five commissioners are set to vote on Ether ETFs this week.

Pump.fun exploiter claims he was arrested in UK and now on bail

The ex-employee alleged of exploiting pump.fun for $1.9 million claims he was arrested and charged in Britain and is now on bail.

Crypto exchange Kraken has ‘no plans’ to delist USDT in Europe for now

Concerns were raised after a Bloomberg article reported Kraken was “actively reviewing” which tokens it could continue to list under the European Union’s upcoming MiCA framework.

Ripple publishes math prof’s warning: ‘public-key cryptosystems should be replaced’

Mathematician Massimiliano Sala says current encryption methods won’t protect blockchain systems from quantum computers.

Bitcoin bulls take charge as SOL, AR, GRT and FTM flash bullish signs

Bitcoin is hogging all the limelight, but SOL, AR, GRT and FTM are also trying to move higher.

OpenAI leadership responds to former employee safety allegations

The company’s head of alignment, Jan Leike, resigned on May 17, stating they’d reached a “breaking point” with management.

Tornado Cash verdict has chilling implications for crypto industry

The conviction of Tornado Cash developer Alexey Pertsev reinforces a very broad interpretation of criminal liability, which has major repercussions for blockchain.

Bitcoin clings to $67K, but analysis warns of 10% BTC price drop next

Bitcoin bulls are enjoying 10% month-to-date gains currently, but one trader warns that the picture should soon look very different for BTC price action.

Venezuela bans crypto mining to protect power grid

This move follows a recent crackdown involving the confiscation of 2,000 cryptocurrency mining devices as part of an anti-corruption initiative.

XRPL on-chain transactions jump 108% in Q1 2024

The XRP Ledger recorded 251.39 million on-chain transactions during the first quarter of 2024, an increase of approximately 108% over the fourth quarter of 2023.

Phantom Wallet climbs Apple app store charts — Bullish sign for Solana?

Phantom Wallet has climbed to third position on the utility category on the Apple app store and several crypto commentators are taking it as a bullish signal for Solana.

Bitcoin's $66.9K price holds strong, casts doubts on a 'deep correction'

Despite ongoing speculation about Bitcoin's next potential "deep correction," some cryptocurrency analysts disagree on its likelihood.

Trader turns $3K into $46M in PEPE, Ethereum gas overhaul, Tornado dev guilty: Hodler’s Digest, May 12-18

Trader makes millions after PEPE price soars, a new gas model for Ethereum, and Tornado Cash developer convicted.

Microsoft faces multi-billion dollar fine in EU over Bing AI

The Redmond company could be fined as much as 1% of its annual revenue if it doesn’t respond by May 27.

‘Godfather of AI’ advises UK government to start UBI

Geoffrey Hinton also warns that advanced AI could pose an existential threat within the next five to twenty years.

LayerZero identifies over 800k addresses in sybil self-reporting phase

Initially, the team identified over 2 million addresses as potential Sybils but later refined their criteria to minimize false identifications, resulting in a more precise classification.

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