🇬🇧 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.

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💰 Bitcoin options positioning anticipates summer slowdown, analyst says

Bitcoin derivatives traders are positioning themselves for a summer lull in market activity, according to an analyst. According to Kooner, bitcoin implied volatility has dropped significantly since mid-April. This can also be seen in charts from The Block's Data Dashboard, which show the implied volatility of bitcoin at-the-money options falling from over 77% to under 60% for one week, one month and multi-month expires.

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💰 Bitcoin’s Volatility Declines as It Grows, Echoing Historical Asset Trends: Fidelity Digital Assets

According to the study conducted by Zack Wainwright at Fidelity Digital Assets, bitcoin (BTC) is exhibiting signs of decreased volatility as it evolves. Historically known for its sharp price fluctuations, BTC’s volatility levels have notably declined in recent years. Wainwright’s analysis points out that bitcoin’s volatility was lower than that of 33 S&P 500 stocks as of early 2024, challenging the traditional view of bitcoin as an exceedingly unstable asset.

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📣 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.

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💰 Snowden Issues ‘Final Warning’ to Bitcoin Developers on Privacy Enhancements

In the wake of the U.S. intensifying its clampdown on privacy-oriented software and Zksnacks closing its coordinated coinjoin service, Edward Snowden, the NSA whistleblower and former contractor, has issued a stern warning to Bitcoin developers. Snowden emphasizes that time is running out for enhancing privacy and insists it must be integrated at the protocol level.

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📣 Vodafone's PairPoint trying to turn mobile device sim cards into crypto wallets

Vodafone will use SIM card technology to meet an anticipated surge in demand for cryptocurrency on mobile phones. "Within each mobile phone is a SIM card and we have focused on linking the mobile phone SIM card to digital wallets, identity and blockchains, using the cryptography we have in those SIM cards for that blockchain integration," Palmer told Yahoo Finance.

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🇺🇸 SEC issues Robinhood Crypto with Wells Notice, citing alleged securities violations

Robinhood Crypto, the crypto unit of the brokerage firm Robinhood Markets, received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on May 4. The exchange said the SEC staff has made a preliminary determination to recommend an enforcement action against the crypto unit, alleging securities violations, according to a Form 8-K filed today.

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🔵 Arbitrum surpasses $150 billion in total transaction volume on Uniswap

Ethereum Layer 2 protocol Arbitrum surpassed $150 billion in transaction volume on the decentralized exchange Uniswap. Arbitrum is the first Layer 2 to pass the threshold on the DEX, Uniswap Labs wrote in a social media post on Monday. Blockchain data tracker DeFiLlama shows Arbitrum's total value locked (TVL) as $2.64 billion, making it the largest Layer 2 by TVL and the fifth largest protocol by TVL behind the Layer 1s Solana, BSC, Tron and Ethereum.

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🟠 Binance CEO calls for release of colleague detained in 🇳🇬 Nigeria

Binance CEO Richard Teng has spoken out on the ongoing detention of colleague ​​Tigran Gambaryan in Nigeria, publicly claiming for the first time the crypto exchange’s compliance officer is “innocent and must be released.” “To invite a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide,” Teng wrote in a blog post early Tuesday.

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📣 MoonPay partners with BitPay to streamline crypto transactions

The web3 fintech firm MoonPay and the crypto payments platform BitPay have partnered to facilitate easier crypto transactions. According to a social media post from MoonPay, the partnerships aim to make selling crypto faster and easier and streamline how users send crypto to their bank account or debit card.

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🪙 NYSE Arca withdraws Grayscale’s futures ETH ETF 19-b4 filing

The US SEC reported a critical Grayscale withdrawal on May 7 that could have broad implications for spot Ethereum ETFs. Specifically, NYSE Arca withdrew a 19-b4 filing containing a proposed rule change through which it intended to list and trade shares of Grayscale’s Ethereum Futures Trust ETF. NYSE Arca withdrew the proposal on May 3, days before the SEC notice. The regulator would have been required to decide on the proposed rule change by May 30.

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💰 Mixed Fortunes for US Bitcoin Funds as GBTC Losses Offset Other Gains

On Tuesday, the publicly traded spot bitcoin ETFs operating in the United States registered a total trade volume of $1.17 billion. Notable entrants like Fidelity’s FBTC, Ark Invest’s ARKB, and Invesco’s BTCO experienced net inflows, yet these gains were insufficient to counteract GBTC’s $29 million decline. The fund’s downturn disrupted GBTC’s two-day run of positive inflows, which had marked its first gains following a stretch nearing 80 days.

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💰 Genesis Digital Assets to Launch Flare Gas Powered Bitcoin Mining Site in Argentina

Bitcoin mining companies are increasingly searching for more environment-friendly energy sources to power their operations. Genesis Digital Assets, a bitcoin mining company, has announced that it has partnered with YPF Luz, a power provider, to build a bitcoin mining site run completely using electricity generated from flare gas in Argentina. The Bajo del Toro plant, a recently built thermoelectric facility, will provide energy to Genesis Digital Assets’ bitcoin mining data center, hosting 1,200 miners in a site inside the plant.

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🇪🇺 EU securities watchdog to review crypto eligibility for UCITS investments

The European Securities and Markets Authority (ESMA) has initiated a review of the rules governing crypto asset investments by UCITS (Undertakings for Collective Investment in Transferable Securities) as part of a broader examination of the EU’s financial regulatory framework. The review comes in response to a request from the European Commission (EC) to ensure that UCITS rules keep pace with rapid market developments, including the burgeoning crypto sector.

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💰 86% of Bitcoin supply still in profit despite recent price drops

Bitcoin pushed toward a new all-time high in March, a significant milestone was reached on Feb. 28, with over 99% of the Bitcoin supply in profit. This was the first time since November 2021 that over 99% of the supply had been in profit, according to Glassnode data. On Feb. 28, just 92,500 BTC were at a loss before the price dropped below $57,000, then consolidated around $62,000.

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💰 Jack Dorsey Says Bitcoin Price Will Go Beyond $1 Million in 2030

Former Twitter CEO and now founder and backer of several crypto projects, Jack Dorsey, believes that bitcoin (BTC) will go as high as $1 million by 2030. When asked about a price prediction for bitcoin in an interview with Pirate Wires, Dorsey said, “I don’t know. Over… at least a million. I do think it hits that number and goes beyond.” While the price of the cryptocurrency is interesting, he said, it’s the ecosystem and movement that fascinates Dorsey.

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🇮🇳 India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers

Cryptocurrency exchanges Binance and Kucoin have successfully registered with India’s Financial Intelligence Unit as Virtual Asset Service Providers (VASPs), a top official has reportedly confirmed. Both crypto exchanges were previously banned in India due to violations of the country’s anti-money laundering regulations.

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🇺🇸 Crypto Is A Major Election Issue For 20% Of Voters: DCG Survey

Crypto is emerging as a hot topic in the U.S. presidential election this year, with many voters looking forward to hearing their candidates takes on the asset class. Per a Digital Currency Group (DCG) survey of 1201 registered voters conducted last month, about one in five voters view crypto as a major issue in the 2024 election. Roughly 40% of voters said they want their candidates to talk more about crypto, with most respondents agreeing that crypto regulation needed an “overhaul.”.

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