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The following is a guest post from Bakhrom Saydulloev, Product Lead at Mercuryo.
Statistics works in a funny way. When experts feel the need to prove the growing acceptance and awareness of Web3, they over-simplify the concept to say, for instance: “more than 90% of people have heard of crypto, hooray!” And yes, that is, in fact, true. But if you dive deeper, you’ll also see that only 8%...
Since the advent of Bitcoin in 2009 and the explosion of innovation that followed, the web3 industry has faced many challenges. Beyond dealing with regulators, improving UX, and weeding out bad actors, blockchain engineers continue to tackle two major hurdles: scalability and interoperability.
While many Layer 2s are working to scale Layer 1s like Bitcoin and Ethereum by improving throughput and...
The following is a guest post by Rajagopal Menon, the Vice President of WazirX.
Come the bull market, cometh the models to predict the price of Bitcoin. In the last bull market in 2021, the Stock-to-Flow (S2F) model was the flavour of the season. This model, created by Plan B, assessed asset scarcity by comparing stock to annual production. Applied to Bitcoin, the S2F model emphasised its ‘...
The following is a guest post from Vincent Maliepaard, Marketing Director at IntoTheBlock.
According to the latest data from IntoTheBlock, the U.S. government holds over 1% of the Bitcoin supply, valued at an impressive $13.16 billion. These holdings have tripled since 2021, demonstrating a consistent increase over the years.
Why the US government holds Bitcoin
It’s important to clarify that the...
Crypto exchange Coinbase believes the odds of the SEC approving spot Ethereum ETFs by the end of the month stand between 30% to 40%.
In a May 15 report, Coinbase Institutional Research Analyst David Han asserted that the main factor that led the SEC to approve spot Bitcoin ETFs — the correlation between CME futures product and spot exchange rates — could also lead it to approve spot Ethereum ETFs...
Kraken could drop EU support for Tether’s USDT stablecoin, Bloomberg reported on May 17.
Kraken Global Head of Regulatory Strategy Marcus Hughes said the company is planning for circumstances in which it is “not tenable to list specific tokens such as USDT.”
The EU’s regulatory landscape is set to change when the EU’s Markets in Crypto-Assets (MiCA) guidance comes into effect in July. MiCA will...
SkyBridge Capital founder Anthony Scaramucci believes institutional adoption of Bitcoin has begun in full force and will accelerate rapidly in the coming quarters.
Scaramucci made the statement during an interview on CNBC, where he highlighted the growing acceptance of Bitcoin among major financial institutions and pension funds.
Scaramucci pointed to Wisconsin’s recent announcement of its...
Quick Take
Tether reported a massive $4.52 billion profit in the first quarter of the year.
Notably, the stablecoin issuer’s consolidated financial figures revealed that as of March 31, it held a staggering $91 billion in direct and indirect US treasury bill holdings. Meanwhile, the company also holds a substantial $5.4 billion in Bitcoin.
Tether’s Financial Report (Source: Tether)
Based on the...
Senator Elizabeth Warren described support for the SEC’s Staff Accounting Bulletin (SAB) 121 during a senate hearing on May 16.
Warren asserted that the bulletin, which applies to companies that deal with crypto, is designed to provide accounting guidance.
She said that SAB 121 “simply clarifies” how companies should account for risks related to crypto and make such risks visible in their...
Notcoin, a play-to-earn game, has donated over 1 billion NOT tokens, worth approximately $7 million, to Telegram and its founder, Pavel Durov.
In a May 17 social media post, the Telegram-based project shared a screenshot showing its donation and a message expressing its gratitude to the messaging application and its founder.
“Thanks for everything you guys built, from 552568 Notcoin contributors...