Recap | Bitcoin unfazed as it breaks through $6k | Congressman calls for a bill to outlaw crypto in the US | FinCEN issues new crypto guidelines | French Investment bank’s Ethereum experiment
|May 10||Public post|| 6|
Happy Friday, everyone! 🤩
Welcome to CryptoSlate Recap, our daily, free newsletter containing links to some of the top blockchain stories on CryptoSlate and across the web.
French lending giant Societe Generale has become the latest traditional financial company to experiment with digital tokens. The bank’s Ethereum-based tokenized bonds have the potential to bring cryptocurrencies to a market worth over $2 trillion.
Changpeng Zhao (“CZ”), the CEO of Binance, the world’s largest crypto exchange in terms of adjusted trading volume, has published a blog post in which he apologized for previously suggesting a chain reorg of the Bitcoin (BTC) blockchain.
A filing showing the list of addresses that were supposed to prove that controversial figure Craig Wright was, in fact, Satoshi Nakamoto, has been unsealed. Deeper inspection of the list, however, showed that the blocks Wright claims to have mined are merely a “lazy copy-paste from the blockchain,” researchers from Wizsec Security found.
When bitcoin broke above $4,200 it marked a pivot point in the crypto markets. Since then, bitcoin has surged more than 40 percent and is now attempting to break through a major resistance zone between $6,300 and $6,450.
Brad Sherman, a California Democrat, called for members of Congress to join him in introducing a bill to outlaw cryptocurrency purchases by Americans. The world-wide use of the U.S. dollar strengthens the U.S. economy and allows us to sanction rogue nations.
FinCEN issues guidance on privacy coins, LocalBitcoins sellers, prediction markets, and other crypto businesses
US regulatory agency FinCEN released new guidance on whether certain crypto businesses are regulated as money services businesses. Those who qualify fall under the scope of the agency and must comply with (sometimes costly) regulations that clash with user privacy.
The attackers that stole over $41 million in Bitcoin from Binance have been erratically moving the funds from one address to another. However, as of May 9th, all of the funds have been consolidated into just seven addresses, each one holding around 1,000 bitcoins.
Vitalik Buterin talks privacy schemes with Emin Gün Sirer.
Emin Gün Sirer@el33th4xorInteresting attack on Monero traceability. Essentially, the attacker floods the network with his own transactions, and is able to remove them from the mixins later to identify other inputs. Costs only $1.5k for a year long attack. https://t.co/d4LRnKGcKo
Bitcoin is back to November 2018 prices, having now recorded a 70 percent YTD gain.
Willy Woo shows the “heartbeat” metric of Bitcoin (investment activity) is carving its bottom.
Featured blockchain companies
Thanks to the following companies for their support:
🚀 OpenCrowd - a design and technology firm creating custom blockchain business solutions for global clients and early startups
⚡️ Blockstation - a leading Canadian FinTech company founded in 2014, provides one of the first digital asset trading solutions for stock exchanges.
Want to be featured here? Contact us to learn more.
Crypto market data
For more pertinent market data, please see:
Connect with us
🔥 Interested in sponsoring this newsletter? Contact us.
Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.