ASV Senāts nobalso par pretrunīgi vērtēto SEC kriptogrāfijas noteikumu atcelšanu — draud Baidena veto tiesības

ASV Senāts ir nobalsojis par Vērtspapīru un biržu komisijas (SEC) pretrunīgi vērtētā SAB 121 atcelšanu, kas uzliek normatīvo slogu digitālo aktīvu turētājiem. Rezolūcija tika pieņemta arī Parlamentā, un tagad tai ir veto draudi no prezidenta Džo Baidena puses. Pagājušajā nedēļā Baltais nams nāca klajā ar paziņojumu: “Ja prezidentam tiktu pasniegts H.Dž.Res. 109, viņš uzliktu veto.
Senāts atceļ SEC SAB 121 kriptogrāfijas regulu

Bitcoin Magazine izpilddirektors: Trampa uzvara izraisīs Bitcoin "kosmosa sacensības"

Deivids Beilijs, Bitcoin Magazine izpilddirektors un Trampa kampaņas kriptovaldes palīgs, uzskata, ka Trampa uzvara gaidāmajās vēlēšanās varētu izraisīt bitcoin “kosmosa sacīkstes”, jo valstis steidzas pielāgoties savai politikai, lai saskaņotos ar ASV, Beilijs arī paziņoja, ka tās ir nodrošināja vairākas 7 ciparu saistības par Trampa kriptovalūtu 100 miljonu ASV dolāru kara lādi.
Bitcoin Magazine izpilddirektors izsludina jaunu Bitcoin “kosmosa sacensību” laikmetu ar hipotētisku Trampa uzvaru

Endrjū Teits plāno ieguldīt lielus līdzekļus Bitcoin, pilnībā atstājot Fiat

Britu izcelsmes amerikānis sociālo mediju personība un bijušais profesionālais kikbokseris Endrjū Teits ir paziņojis par plānu veikt ievērojamus ieguldījumus bitkoinā, paužot neapmierinātību ar bankām un to izkrāpšanu. "Es gatavojos pilnībā pamest Fiat," viņš uzsvēra. "Es esmu beidzis ar bankām. Esmu beidzis ar viņu naudu. Pabeigt ar krāpniecību.
Endrjū Teits plāno 100 miljonus pāriet uz Bitcoin, atstājot bankas aiz muguras
Endrjū Teits sociālo mediju platformā X trešdien paziņoja, ka plāno ieguldīt lielu naudas summu bitkoinā, atsakoties no fiat valūtas. Viņš pauda neapmierinātību ar bankām un ar tām saistītajām krāpniecībām, paziņojot par nodomu pierādīt savu ieguldījumu un pēc tam izbaudīt laivošanu. Britu-amerikāņu sociālo mediju personība un uzņēmējs Teits ieguva slavu kā kikbokseris, pirms kļuva par labi pazīstamu personību tiešsaistes telpā. Viņš uzrakstīja:

Bitcoin kalnračiem maijā būs ievērojami samazināti ienākumi, neskatoties uz Bitcoin cenas pieaugumu

Saskaņā ar septiņu dienu vienkāršā slīdošā vidējā (SMA) statistiku par Bitcoin hashrate tīkla hashrate ir saglabājies zem 600 eksahash sekundē (EH/s) atzīmes aptuveni vienu nedēļu. Nesenais bitkoina cenas kāpums ir pozitīvi ietekmējis kopējo hash cenu, jo 1 petahash sekundē (PH/s) katru dienu ir palielinājusies virs 50 USD atzīmes.
Bitcoin Hashrate un kalnraču peļņas slaids: navigācija maija izaicinājumos

USDC Stablecoin emitents apsver juridiskās dzīvesvietas pārvietošanu no Īrijas uz ASV

Tiek ziņots, ka Circle, stabilu monētu emitents Īrijas Republikā, ir paziņojis par plāniem pārcelt savu juridisko dzīvesvietu uz ASV. Tiek uzskatīts, ka lēmums ir atbilde uz Ekonomiskās sadarbības un attīstības organizācijas (OECD) ierosinājumu par minimālo nodokli 15% apmērā lielāku starptautisku korporāciju peļņai.
Īrijas Republikas zemie uzņēmumu nodokļi
Tiek ziņots, ka stabilo monētu emitents Circle Internet Financial Ltd. (Circle) ir apstiprinājis savu nodomu pārcelt savu juridisko bāzi no Īrijas uz ASV, lai gan iemesli netika sniegti. Saskaņā ar Bloomberg ziņojumu Circle lēmums pārcelties ir saistīts ar uzņēmuma sākotnējā publiskā piedāvājuma (IPO) plāniem, kas tika atklāti gada sākumā.

Bijušais Alamedas pētniecības vadītājs Sems Trabuko pirms notiesāšanas aizstāv Raienu Salame

Ziņojumi liecina, ka Sems Trabuko, bijušais kriptovalūtu tirdzniecības uzņēmuma Alameda Research līdzdirektors, nosūtīja vēstuli tiesnesim, lai piespriestu sodu Raienam Salamem, FTX Digital Markets līdzdirektoram. Trabuko vēstule parādījās laikā, kad tika uzdoti daudzi jautājumi par viņa atrašanās vietu notiekošo satricinājumu laikā. Savā vēstījumā Trabuko minēja Salame kā savu "labāko draugu" un apgalvoja, ka Salame "nav pelnījis, lai viņu raksturotu ar viņa sliktākajām darbībām".

EOS Network Foundation Founder: Bitcoin Halving Spurs Development of Solutions Enhancing Network Efficiency

With Bitcoin transaction fees recently becoming a more critical component of miner revenue, Yves La Rose, CEO of Exsat, believes there is “an increased incentive to adopt and develop solutions that enhance transaction throughput and network efficiency.” According to La Rose, this can be achieved by integrating advanced layer two (L2) solutions which expand the functionality of the Bitcoin network through Ordinals and BRC20 tokens.
Integration of L2 Solutions Can Help Sustain Mining Revenue
In responses provided to Bitcoin.com News, La Rose, who is also the founder of the EOS Network Foundation, said such an integration not only helps sustain miner revenue but also “enriches the blockchain ecosystem by boosting the overall utility and adoption of Bitcoin.” Overall, this integration results in what the Exsat CEO calls a “triple win” for the Bitcoin network: enhanced scalability and engagement, increased functionality and adoption for L2s, and diversified revenue streams for miners.
Concerning the impact of the recent halving event on miners, La Rose said that while the reduced block rewards are likely to favor established miners in the short term, the latest halving could also lead to unexpected shifts in the mining landscape. For instance, major miners may scale back operations to conserve resources during bearish periods. This, in turn, will open opportunities for smaller mining collectives, which are not encumbered by high overhead costs.
Elsewhere in his written responses, La Rose offered his views on the prospects of Bitcoin decentralized finance (defi) overtaking Ethereum defi, as well as why the Bitcoin network is not able to support complex smart contracts at scale. Below are La Rose’s answers to the questions, presented verbatim.
Bitcoin.com News (BCN): It seems logical to conclude that, despite developers’ best efforts, the Bitcoin network has not yet reached the forefront of the decentralized finance (defi) revolution. What, in your opinion, is still preventing it from supporting complex smart contracts at scale to meet the demands of the rapidly changing landscape?
Yves La Rose (YLR): Bitcoin’s design prioritizes security and decentralization over scalability and complex functionality. Its scripting language is intentionally limited, making it challenging to support complex smart contracts directly on the Bitcoin main chain. This simplicity, while foundational to Bitcoin’s unmatched security, restricts the functionality needed for more complex decentralized applications (dapps).
Ethereum was invented specifically to address these limitations. Vitalik Buterin recognized the need for a more flexible and powerful blockchain platform capable of supporting complex smart contracts and dApps, which is what led to Ethereum and eventually DeFi.
The introduction of protocols like Exsat is crucial in addressing Bitcoin’s limitations. Exsat extends Bitcoin’s capabilities by incorporating a hybrid consensus mechanism and supporting Ethereum Virtual Machine (EVM) compatibility with Bitcoin, thus bridging the gap for more complex applications.
BCN: With Bitcoin halving having slashed miner rewards in half, transaction fees have now become more important for miners as they adjust to the new economics of keeping the network secure. While the ordinals and BRC-20 tokens have been criticized for taking up valuable space on the Bitcoin network, do you believe that the miners’ need to sustain their revenue will accelerate the pace of innovation in the Bitcoin ecosystem?
YLR: Absolutely, the reduction in miner rewards due to bitcoin (BTC) halving necessitates new revenue models for miners, and this will undoubtedly act as a catalyst for innovation within the Bitcoin ecosystem. As transaction fees become a more critical component of miner revenue, there’s an increased incentive to adopt and develop solutions that enhance transaction throughput and network efficiency. This includes integrating with advanced Layer 2 solutions, which not only improve scalability but also expand the functionality of Bitcoin to include features like ordinals and BRC-20 tokens—despite their current criticisms for using up block space.
Our Exsat platform plays a pivotal role in this transition, serving as a docking layer that facilitates seamless interactions between Bitcoin and these Layer 2 technologies. This integration not only helps sustain miner revenue through more diverse transaction fees but also enriches the blockchain ecosystem by boosting the overall utility and adoption of bitcoin. The result is a triple-win: enhanced scalability and engagement for bitcoin, increased functionality and adoption for Layer 2 solutions, and more robust and diversified revenue streams for miners, all of which secure network operations and drive further innovation.
BCN: Can you tell our readers what the newly launched Exsat is and how it creates a linkage between Bitcoin and its L2s to improve interoperability? What does it mean for the future of the Bitcoin ecosystem?
YLR: Exsat is a novel Docking Layer solution designed to address the core challenges of trust, functionality, scalability, utility, and interoperability in the Bitcoin ecosystem. By extending Bitcoin’s data consensus through a hybrid consensus mechanism, Exsat combines the strengths of Proof of Work (PoW) and Proof of Stake (PoS). This hybrid approach not only maintains Bitcoin’s robust security but also enhances its capabilities for more complex transactions and smart contract applications.
The Docking Layer concept of Exsat is central to its ability to link Bitcoin with its Layer-2 (L2) solutions. The Docking Layer serves as an intermediary layer that synchronizes Bitcoin’s Unspent Transaction Output (UTXO) data into an on-chain structured database leveraging the high-speed low-latency capabilities of EOS RAM. This is achieved by involving mining pools as synchronizers, which ensures that all data is generated directly from raw BTC blocks and supported by consensus. We recently announced Spiderpool, which has the 7th-ranked Bitcoin hash power in the world, as our first validator for Exsat.
By providing a comprehensive index of Bitcoin’s UTXO data and ensuring its availability on-chain, Exsat allows for the seamless integration of various L2 solutions. This integration facilitates the development of decentralized applications (dapps) that can operate across different blockchain ecosystems while leveraging Bitcoin’s security and data integrity. Additionally, Exsat’s architecture supports the creation of customizable BTC Layer-2 solutions, such as Zero-Knowledge (ZK) rollups and sidechains, making it easier and more efficient for developers to build and deploy scalable applications.
For the future of the Bitcoin ecosystem, Exsat represents a significant leap forward. It enhances Bitcoin’s utility beyond being a store of value, paving the way for more advanced applications and services. By addressing the scalability and interoperability issues, Exsat is poised to unlock new economic opportunities and drive mass adoption of Bitcoin-based technologies. The Docking Layer approach ensures that Bitcoin can remain at the core of a diverse and interconnected blockchain ecosystem, fostering innovation and expanding its use cases​.
BCN: Ethereum, with its robust smart contract capabilities and a thriving Layer-2 ecosystem, offers scalability and efficiency without compromising security. Do you believe that Bitcoin defi could overtake Ethereum defi if it fixes the scalability and interoperability issues?
YLR: Ethereum currently leads in DeFi due to its advanced smart contract capabilities and extensive Layer-2 ecosystem. However, Bitcoin DeFi (BTCFi) has the potential to rival and possibly overtake Ethereum DeFi, provided it can effectively address its scalability and interoperability challenges. Bitcoin’s unmatched security and widespread recognition as a store of value give it a strong foundation.
With the ability to support complex dApps and seamless cross-chain interactions, Bitcoin can attract a broader range of developers and users. If BTCFi can leverage its security and integrate the advanced smart contract functionalities, it could offer a compelling alternative to Ethereum DeFi, especially for users who prioritize security and stability in their financial transactions​.
BCN: Currently, the U.S. is said to command about 40% of the global Bitcoin hashrate. Together, the U.S., Russia, and China account for 75% hashrate. Do you believe that the recent Bitcoin halving has made mining more decentralized, allowing for the industry to become more globally dispersed?
YLR: Bitcoin mining locations tend to concentrate where economic, regulatory, and technological conditions are most favourable. While the halving might initially seem to favour established miners with the capital and infrastructure to manage reduced rewards, it could also lead to unexpected shifts in the mining landscape. As these major players potentially scale back operations to conserve resources during bearish periods, opportunities might arise for midsize and smaller mining collectives.
These groups could be less tied to the boom-bust cycles due to lower overheads and more flexible operation scales. Adding to the unpredictability are governments worldwide, which represent a significant wildcard. Should more countries follow El Salvador’s example in adopting Bitcoin in various capacities, it could radically alter the BTC mining terrain. It was just announced recently that the El Salvador government has already mined 474 BTC and this is a trend that we are likely to see increase as more geographic areas try to mimic their success.
This scenario could see the emergence of new mining centres, where a confluence of favourable conditions—such as supportive regulations, access to affordable energy, and technological advancements—aligns, contributing to a more decentralized and resilient mining ecosystem.
What are your thoughts on this interview? Share your opinions in the comments section below. #Write2Earn

Crypto markets rally, but Ethereum struggles to keep pace with Bitcoin
ETH price continues to trail far behind Bitcoin’s year-to-date gains even after the crypto market responded positively to today’s CPI print.
On May 15, the cryptocurrency markets saw a 5.5% increase in total capitalization following the release of inflation and retail sales data from the United States. However, Ether failed to fully capitalize on this bullish momentum. Ether last closed above $3,000 over five days ago and has underperformed the leading cryptocurrency, Bitcoin, by 22% since the start of 2024. 
U.S. macroeconomic data backs the rally in some scarce assets
Crypto markets responded positively to U.S. consumer price index (CPI) data showing a 3.4% year-over-year rise in April, which aligned with market expectations. However, retail sales data for April, released on May 15, unsettled investors as it indicated stability from the previous month, contrary to economists' forecasts of a 0.4% increase. This development increased the likelihood of the U.S. Federal Reserve (Fed) implementing measures to stimulate the economy.
Even if the U.S. Fed decides to maintain interest rates above 5.25% for an extended period to control inflation, the central bank may resort to actions such as purchasing government securities to boost the money supply and reducing the discount rate at which banks borrow from the central bank. Essentially, even a hint of continued liquidity provision can shape economic expectations and behaviors.
Contrary to what might be expected, weaker economic activity is often seen as an indicator that more money will be injected into the system, which benefits investments in scarce assets like stocks, gold, and cryptocurrencies. Eventually, the government will need to issue more debt to fund these expansionary measures aimed at preventing an economic recession. Over time, inflation is likely to rise due to the additional money circulating, regardless of the interest rate.
Some analysts believe that the upcoming U.S. Securities and Exchange Commission (SEC) decision on May 23 regarding VanEck's spot Ethereum ETF application is a key reason for Ethereum's inability to surpass the $3,000 resistance level. The uncertainty surrounding this event leads traders to postpone their investment decisions until the outcome is more certain, which is logical. No matter how optimistic one might be about Ethereum's long-term prospects, a rejection from the SEC could lead to a short-term market correction.
Eric Balchunas, a senior ETF analyst at Bloomberg, has expressed doubt about the approval of a spot Ethereum ETF in 2024, given the regulator's cautious approach towards products that may be classified as securities, particularly those that include native staking services. This skepticism is also evident in the Ether derivatives markets.
Ether’s derivatives markets reflect a lack of optimism
To understand how professional traders are positioned, it's essential to examine the ETH futures and options markets. In neutral market conditions, Ether futures contracts are typically priced between 5% to 10% above the regular spot prices of ETH to account for the extended settlement period.

Currently, the Ether futures premium (basis rate) is at 9%, a figure that has remained stable for the past two weeks. This level indicates a general lack of enthusiasm concerning the decision on the spot ETF, suggesting a neutral sentiment among traders.
In the options market, there is an even balance in the demand for call (buy) and put (sell) options, as both types of instruments are trading at similar price levels. Typically, if traders expect a drop in Ether prices, the 25% delta skew metric will exceed 7%. Conversely, periods of high market excitement often result in a negative skew of 7%.

If there had been an increased demand for bullish trades in anticipation of the spot Ethereum ETF decision, whales and market makers would likely have raised the prices for contracts that provide upside price protection. This would reflect their expectation of higher future prices and their intent to capitalize on traders' willingness to pay more for potential gains.
Although it's challenging to pinpoint the exact reasons behind Ethereum's inability to capitalize on today's gains in the cryptocurrency sector, ETH investors do not seem particularly optimistic about the approval chances of the spot Ethereum ETF. Additionally, other factors, such as the ETH supply becoming inflationary for the first time in 18 months, due to reduced transaction fees, may also be contributing to keeping ETH prices below $3,000.

First US Presidential debate planned for June 27 — Will crypto be on the agenda?
Neither then-Democratic candidate Joe Biden nor President Donald Trump discussed digital assets or blockchain when they last faced off on the debate stage in 2020.
Joe Biden and Donald Trump, the presumptive candidates for U.S. President in 2024, will face off against each other for the first time in four years in a June debate.
In a May 15 X post, President Biden said he had received and accepted an invitation from CNN for a presidential debate on June 27, challenging Trump to respond. The former U.S. President reportedly accepted the date for the event in a statement to Fox News, saying he was “ready and willing” to debate President Biden in an earlier post to his social media platform Truth Social.
Trump has been required to appear in a New York courtroom as a defendant in a criminal trial involving hush money payments to an adult film star and falsification of business records related to the 2016 U.S. Presidential Election, but the presiding judge attends to other matters on Wednesdays. It’s unclear whether his other pending criminal cases in the District of Columbia, Florida and Georgia could conflict with the June debate.
If confirmed, the debate would be held before either Trump or President Biden officially accepted their party’s nomination for U.S. President. The Democratic National Convention and Republican National Convention are expected to occur in August and July, respectively. Independent candidate Robert F. Kennedy Jr., trailing President Biden and Trump in the polls, claimed he was “excluded” from the debate.
During their runs to become the Republican Party nominee for president, candidates Vivek Ramaswamy and Ron DeSantis often discussed crypto-related issues and central bank digital currencies. As recently as May 8, during a dinner for supporters who purchased his nonfungible tokens, Trump said he was “good with” crypto in the United States. However, the former president has previously referred to cryptocurrencies like Bitcoin as a scam.
Many lawmakers and industry leaders seemingly supportive of President Biden have called on him to consider how crypto-focused people will vote in 2024. Some have pointed to the U.S. Securities and Exchange Commission (SEC) filing several enforcement actions against crypto firms under the Biden administration and Democratic Senator Elizabeth Warren attacking digital assets through legislation and public statements.

Though President Biden rarely speaks on digital assets personally, he has used his position to oppose legislation and policies that many in the space reject. On May 8, as the House of Representatives was considering passing a joint resolution that would overturn an SEC policy on banks holding crypto, President Biden said he would veto the measure. The resolution passed the House with support from 21 Democratic lawmakers and is headed to the Senate.
The last time President Biden and Trump faced off in person was in September 2020 for the first U.S. Presidential debate at Case Western Reserve University. Trump’s former chief of staff, Mark Meadows, later claimed in his book that the former president had been diagnosed with COVID-19 days before the debate but hid the results.
Neither then-candidate Biden nor Trump discussed cryptocurrency or blockchain during the two debates. At the time of publication, President Biden’s campaign website did not have an ‘issues’ page for his policy positions, while Trump’s website included his stance on the economy. Neither website specifically mentioned digital assets.
“Many crypto owners are single issue voters and we risk losing them in this presidential election,” said Democratic Representative Wiley Nickel in a May 11 X post.
With neither major U.S. Presidential candidate having precise positions on crypto at any given moment, it’s unclear whether the technology will be a subject during the June 27 debate or the second one scheduled on Sept. 10. Election Day in the United States is Nov. 5. #Write2Earn

Israeli fintech Kima, Mastercard lab look to develop ‘DeFi credit card’
Kima is seeking to bridge traditional and Web3 finance and make the user experience more manageable.
Israeli fintech Kima and Mastercard’s FinSec Innovation Lab have launched a project to develop a use case for linking decentralized finance (DeFi) tools and traditional services such as credit cards and bank accounts. It described the project as “mak[ing] a ‘DeFi credit card’ a reality.” The Israel Innovation Authority is supporting the project.
Kima is a peer-to-peer money transfer and payment protocol that operates a blockchain without smart contracts, which it describes on its website as “buggy and experimental.” It intends to expand its existing protocol and launch a mainnnet and token in the second quarter of 2024. FinSec will operate a Kima node and be a key shareholder in the network.
FinSec is supported by the Israel National Cyber Directorate, Finance Ministry, and Innovation Authority. It works with fintech and cybersecurity startups. The project with Kima was announced in July 2023.
The project will concentrate on creating a bridge between DeFi and traditional finance and help users overcome technical and regulatory barriers to DeFi adoption. Kima co-founder and CEO Eitan Katz said in a statement:
“The only way blockchain and DeFi will become fixtures outside the niche world of Web3 is if there is an easily accessible, secure, and affordable way to bridge blockchain networks with traditional financial means.”
Kima is expanding rapidly. It has announced six integrations and 18 new partnerships in 2024 alone. Those include ventures in Vietnam and Thailand. It has also joined the incubator of artificial intelligence protocol ChainGPT. Kima uses AI in its liquidity management algorithm.

Kima is one of 16 companies that FinSec supports. Mastercard has a hand in several blockchain development projects. It is working with United States banks on tokenized settlements on a shared ledger. It has partnered with crypto lending platform Nexo on a crypto-powered credit card in the European Economic Area, and is participating with blockchains and payment providers to research central bank digital currency. #Write2Earn

Mastercard launches ‘next generation’ of blockchain payments startup program
The program has added five startups and will trial various payment technologies ranging from blockchain to Web3.
Fintech giant Mastercard announced the addition of five new startups to its Start Path Blockchain and Digital Assets program on May 15. 
The Start Path Blockchain and Digital Assets program is a fintech accelerator program that focuses on “exploring future use cases to scale new solutions with startups around the world.”
Joining the program are crypto payment and card issuer Kulipa, blockchain software firm Parafin, decentralized physical infrastructure network (DePin) firm peaq, data platform Triangle, and blockchain developer Venly.
In a press release, Mastercard highlighted that this leg of the program would focus on use cases and trials to attack specific issues:
“Each currency format – from regulated money to bank deposits, to stablecoins and CBDCs – serves a specific purpose, and Mastercard is connecting with industry experts and fintechs to explore differentiated use cases that can help to solve real-world problems.”

Per a press release from Mastercard, it only considers “high-potential blockchain, digital assets and Web3 startups” for the program. Those firms selected “receive the opportunity for collaboration, bespoke training and access to Mastercard’s customers and channels” during a four-month program.
Launched in 2014, Start Path has purportedly supported more than 400 startups in 54 countries. Through programs such as this, Mastercard has steadily maneuvered its way to the forefront of the fintech and blockchain payments forum.
As Cointelegraph recently reported on May 14, Mastercard Lab partnered with Israeli fintech firm Kima to develop a “DeFi credit card.” While not made explicit, the big idea seems to be marrying decentralized finance protocols with the ability to apply for a line of credit.
On May 8, Mastercard announced the formation of an alliance with U.S. banking giants including Citigroup, Visa, and JP Morgan to test distributed ledger technology for banking settlements using tokenization.
In April, Mastercard and 1inch unveiled a debit card with cryptocurrency-to-fiat bridge functionality allowing cryptocurrency users to make cash withdrawals and point-of-sale payments at locations where debit cards are accepted.

Microstrategy Joins MSCI World Index Amid Bitcoin Rally

MSCI Inc. has announced the May 2024 Index Review, which includes adding the bitcoin-focused Microstrategy to the MSCI World Index. This decision follows the Nasdaq-listed software intelligence firm’s stock outperforming bitcoin and other major investments. Microstrategy currently holds over 214K bitcoins.
MSCI World Index Adds Microstrategy
MSCI Inc. (NYSE: MSCI), a premier operator of global equity indices and provider of investment decision support tools, announced Tuesday the results of its May 2024 Index Review for the MSCI Equity Indexes. All changes will take effect as of the close of May 31.
The review includes updates to the MSCI Global Standard Indexes. “Forty-two securities will be added to and 121 securities will be deleted from the MSCI ACWI Index,” the company said, adding:
The three largest additions to the MSCI World Index measured by full company market capitalization will be Microstrategy (USA), Pure Storage (USA), and Emcor Group (USA).
Microstrategy’s addition to the MSCI World Index followed a rally in its stock that outpaced bitcoin’s performance. Since adopting its BTC strategy on August 10, 2020, Microstrategy’s stock has massively outperformed the cryptocurrency, the S&P 500, the Nasdaq, gold, silver, and major tech stocks. At the time of writing, bitcoin is trading at $65,025.
The company held 214,400 BTC as of April 26. Michael Saylor, the company’s founder and executive chairman, recently stated that he believes capital will keep flowing from other asset classes, such as gold and real estate, into bitcoin because the cryptocurrency is “technically superior to those asset classes.” He explained that the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has “opened up a gateway for institutional capital to flow into the bitcoin ecosystem.” He also said in February that BTC has become the “most popular investment asset.”
What do you think about Microstrategy being added to the MSCI World Index? Let us know in the comments section below. #Write2Earn

Over 50,000 Traders Liquidated as Bitcoin Price Surges Past $66,000 Amid Bullish Run-Up

On Wednesday, the price of bitcoin demonstrated strong growth, escalating by more than $4,200 from its daily low. This 7.1% increase against the U.S. dollar propelled bitcoin past the $66,000 threshold, reaching a peak of $66,461 per coin on Bitstamp. Consequently, the entire cryptocurrency market rose by 6.2%, resulting in the liquidation of 51,567 traders on various crypto derivatives exchanges over the course of the day.
Bitcoin Climbs to $66,000, Crypto Derivatives Face $127M Liquidation Wave
Bitcoin has climbed 7.1% relative to the dollar, surpassing the $66,000 mark at 3:45 p.m. Eastern Time (ET) on Wednesday. At that current time, bitcoin’s price hovers at $66,300 per unit, with the past 24 hours seeing a global trading volume of $34 billion. From the day’s lowest price, bitcoin’s value has increased by more than $4,200 during the trading sessions. This recent upturn further marks a 5.2% rise over the past seven days against the greenback.

Bitcoin’s initial uptick on Wednesday followed the U.S. Labor Department’s Bureau of Labor Statistics’ release of the consumer price index (CPI) report. On May 15, bitcoin’s primary trading pairs included USDT, FDUSD, USD, USDC, and KRW, with the Korean won comprising 2.36% of bitcoin’s global trades. While the global weighted average price of bitcoin stands at $66,300 it traded at $67,632 on the South Korean exchange Upbit at 3:45 p.m. (ET) as well.
The day’s substantial price rise across the entire crypto economy led to significant trader liquidations, with 51,567 traders being wiped out today. Over the last 24 hours, derivatives positions amounting to $127.98 million were liquidated, including $83.39 million in crypto short positions. Specifically, $45.94 million of those positions were bitcoin shorts and $17.88 million of ethereum (ETH) shorts were also liquidated. Additionally, $6.27 million in PEPE shorts were liquidated throughout the day.
This latest bitcoin price uptick, driven by a favorable CPI report, catalyzed a wave of liquidations, predominantly affecting those on the wrong side of leveraged positions. As $127.98 million in derivatives were cleared off the table, the event underscores the high-stakes nature of leveraged crypto trading where significant price movements can either forge fortunes or obliterate investments in mere moments. The dynamics of leverage, while offering magnified gains, also pose massive risks, as seen in the swift liquidation of numerous traders’ positions on Wednesday.
What do you think about bitcoin’s price jump on Wednesday? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

On the face of it, the United States' debt to GDP ratio doesn’t seem that bad on a global scale. In 2023, it was lower than the average for G7 nations — at 123% — and roughly half of the most indebted country in the world, Japan, where debt stood at a whopping 255% of GDP in 2023.
Looking at the numbers alone, it would be easy to brush this off as a non-issue. After all, Japan has managed to navigate its growing debt pile relatively well over the years. Its economy remains stable, while the Nikkei 225 index is up around 31% over the last year (as of May 10), outperforming the S&P 500. In reality, though, the economic situations in the two countries couldn’t be more different, which means that what works for Japan is unlikely to work for the U.S.
The glaring difference between the two is the composition of their debt ownership. In Japan, nearly 90% of debt is owned domestically by its citizens and institutions. By contrast, roughly a quarter of U.S. debt is held by international debt buyers. And so needs to ensure that its debt remains attractive to them by paying a high enough yield versus its global competitors — especially as this debt rises to higher and higher percentages of GDP, meaning that it becomes riskier to lend to the government.
Related: Jerome Powell’s pivot heralds a boring summer for Bitcoin
Indeed, last year Fitch Ratings already downgraded U.S. government debt from AAA to AA+. At the time, this news was brushed off by U.S. officials as “arbitrary and based on outdated data.” Later in the year, Moody’s downgraded its U.S. debt outlook to negative, which was also largely ignored by markets.
But investors should be paying more attention because the U.S. won’t be able to sit back and let its debt soar to the levels seen in Japan. For one thing, Japan’s net debt is much lower than its gross debt-to-GDP ratio, meaning it holds more foreign assets than it owes to other countries — the exact opposite of the US. This makes it easier for Japan to manage its growing debt pile. Ind
Map of debt-to-GDP ratios around the world as of 2022. (Dark green signifies a higher ratio, while orange signifies a ratio of less than 25%.) Source: International Monetary Fund

Japan also hasn’t struggled with inflation nearly to the same extent as the United States. Its inflation rate sits at 2.7% after peaking at just 4.3% in January 2023. That's a far cry from the 9.1% the U.S. reached in June 2022. The Federal Reserve is still struggling to bring sticky inflation under control, which makes the soaring debt levels particularly dangerous as this can add fuel to the fire.
The answer to inflation, as we all know, is restrictive monetary policy. But higher interest rates mean higher debt repayments, unhappy consumers, and — eventually — a slowing economy. Indeed, the Fed is already facing all of these problems. Consumer confidence is beginning to falter, debt repayments topped $1 trillion last year and first-quarter growth this year came in much lower than anyone anticipated.
So much so that we’re now hearing whispers of stagflation — a particularly undesirable economic situation, where inflation continues to rise while economic growth stagnates. Here, higher debt also creates a problem, since it limits the government’s ability to use its fiscal powers to mitigate a slowing economy. So the Federal Reserve finds itself in a bit of a catch-22 situation, especially considering that it has all but promised a rate cut next.

In an election year, keeping interest rates high for too long could also spell an unhappy electorate. However, so far, both Democrat and Republican candidates appear to be entirely ignoring the elephant in the room that is the growing U.S. debt pile. Neither side has proposed any meaningful policies to address this issue. But, with the debt-to-GDP ratio now at well over 100% and projected to keep rising quickly over the coming decades, the government will have to face the music sooner or later.
So what does this mean for crypto? Paradoxically, all this may be a net benefit for assets like Bitcoin, which could become a safe haven as worries over soaring U.S. debt intensify. Typically, rising debt levels also lead to currency devaluation. And while, like Japan, the U.S. may be able to avoid some of this due to the global reliance on the U.S. dollar, the high proportion of foreign debt ownership also makes the greenback particularly vulnerable.
Coupled with the expectations of interest rate cuts later this year, there is little chance that the dollar will maintain its current strength for too long. This, of course, will be a boon for Bitcoin which is widely seen as a hedge against dollar weakness.
So this predicament the U.S. finds itself in isn’t necessarily bad news for cryptocurrency markets, depending on quite how badly out of hand things get. If the U.S. were to default on its debt, for example — which, of course, it won’t. This would be disastrous for all markets, including digital assets. A weaker dollar and some loss of confidence in the U.S., however, could be just what the doctor ordered for the next leg of the crypto rally.
#Write2Earn

Here’s why US debt is out of control — and Japanese debt isn’t.
Japanese debt might be high, but it isn't comparable to American debt, which is set to trigger a financial implosion — and light a spark under Bitcoin.
On the face of it, the United States' debt to GDP ratio doesn’t seem that bad on a global scale. In 2023, it was lower than the average for G7 nations — at 123% — and roughly half of the most indebted country in the world, Japan, where debt stood at a whopping 255% of GDP in 2023.
Looking at the numbers alone, it would be easy to brush this off as a non-issue. After all, Japan has managed to navigate its growing debt pile relatively well over the years. Its economy remains stable, while the Nikkei 225 index is up around 31% over the last year (as of May 10), outperforming the S&P 500. In reality, though, the economic situations in the two countries couldn’t be more different, which means that what works for Japan is unlikely to work for the U.S.
The glaring difference between the two is the composition of their debt ownership. In Japan, nearly 90% of debt is owned domestically by its citizens and institutions. By contrast, roughly a quarter of U.S. debt is held by international debt buyers. And so needs to ensure that its debt remains attractive to them by paying a high enough yield versus its global competitors — especially as this debt rises to higher and higher percentages of GDP, meaning that it becomes riskier to lend to the government.
Indeed, last year Fitch Ratings already downgraded U.S. government debt from AAA to AA+. At the time, this news was brushed off by U.S. officials as “arbitrary and based on outdated data.” Later in the year, Moody’s downgraded its U.S. debt outlook to negative, which was also largely ignored by markets.
But investors should be paying more attention because the U.S. won’t be able to sit back and let its debt soar to the levels seen in Japan. For one thing, Japan’s net debt is much lower than its gross debt-to-GDP ratio, meaning it holds more foreign assets than it owes to other countries — the exact opposite of the US. This makes it easier for Japan to manage its growing debt pile.

Japan also hasn’t struggled with inflation nearly to the same extent as the United States. Its inflation rate sits at 2.7% after peaking at just 4.3% in January 2023. That's a far cry from the 9.1% the U.S. reached in June 2022. The Federal Reserve is still struggling to bring sticky inflation under control, which makes the soaring debt levels particularly dangerous as this can add fuel to the fire.
The answer to inflation, as we all know, is restrictive monetary policy. But higher interest rates mean higher debt repayments, unhappy consumers, and — eventually — a slowing economy. Indeed, the Fed is already facing all of these problems. Consumer confidence is beginning to falter, debt repayments topped $1 trillion last year and first-quarter growth this year came in much lower than anyone anticipated.
So much so that we’re now hearing whispers of stagflation — a particularly undesirable economic situation, where inflation continues to rise while economic growth stagnates. Here, higher debt also creates a problem, since it limits the government’s ability to use its fiscal powers to mitigate a slowing economy. So the Federal Reserve finds itself in a bit of a catch-22 situation, especially considering that it has all but promised a rate cut next.
In an election year, keeping interest rates high for too long could also spell an unhappy electorate. However, so far, both Democrat and Republican candidates appear to be entirely ignoring the elephant in the room that is the growing U.S. debt pile. Neither side has proposed any meaningful policies to address this issue. But, with the debt-to-GDP ratio now at well over 100% and projected to keep rising quickly over the coming decades, the government will have to face the music sooner or later.
So what does this mean for crypto? Paradoxically, all this may be a net benefit for assets like Bitcoin, which could become a safe haven as worries over soaring U.S. debt intensify. Typically, rising debt levels also lead to currency devaluation. And while, like Japan, the U.S. may be able to avoid some of this due to the global reliance on the U.S. dollar, the high proportion of foreign debt ownership also makes the greenback particularly vulnerable.
Coupled with the expectations of interest rate cuts later this year, there is little chance that the dollar will maintain its current strength for too long. This, of course, will be a boon for Bitcoin which is widely seen as a hedge against dollar weakness.
So this predicament the U.S. finds itself in isn’t necessarily bad news for cryptocurrency markets, depending on quite how badly out of hand things get. If the U.S. were to default on its debt, for example — which, of course, it won’t. This would be disastrous for all markets, including digital assets. A weaker dollar and some loss of confidence in the U.S., however, could be just what the doctor ordered for the next leg of the crypto rally.

Banking The Unbanked? How I Taught A Total Stranger In Kenya About Bitcoin
M-Pesa dominates payments in Kenya — so does Bitcoin have any relevance to the country's citizens at all?
Deep inside the Great Rift Valley in Kenya lies the town of Nakuru, renowned for its flamingos and prehistoric sites. Located a hundred miles northwest of Nairobi, the town’s name translates to ‘Dusty Place’ in the local Maasai language.
It was here that I decided to educate random strangers about Bitcoin, a term strange to many who are accustomed to using cash and mobile payment system M-Pesa to settle their transactions. 
M-Pesa is by far the largest mobile money system in Kenya, used by approximately 83% of adults. As the COVID-19 epidemic reaches the country, the Central Bank of Kenya has given citizens even more reason to use the product.
It would have been easy to find a few young people who might have heard a thing or two about Bitcoin. However, this demographic already has access to the internet and can easily search for Bitcoin on Google.
Instead, I decided to target older people, those that most mainstream media and education initiatives have ignored. It didn’t take me long to meet the first target – a group of bus drivers who were having a cup of coffee as they waited for their buses to fill up with passengers.
Twenty minutes in, the four drivers didn’t seem to know any more about Bitcoin than they did when I arrived. “Kwa hivyo Bitcoin ni kama M-Pesa (Is Bitcoin just like M-Pesa?)” one asked me. So far, they had understood Bitcoin to either be a form of stock or an M-Pesa alternative. 
After a few more dozen questions, the four drivers seemed to have a rudimentary understanding of Bitcoin as a digital currency. By now, a few more had joined, all with questions on why they should bother using Bitcoin. I answered the questions, and then answered them again, and again. By the end of it all, I had managed to convince three people to open a Bitcoin wallet, after which I sent them a few dollars’ worth of Bitcoin. I also taught the new crypto disciples how to buy Bitcoin on their own from peer-to-peer platforms.
Are you certain it’s not a scam?
By now, I was feeling quite confident and decided to kick it up a notch. I approached my next target – a group of mama mbogas (vegetable vendors). As with the previous group, the questions were plentiful; why use Bitcoin? Does it replace M-Pesa? Is it a scam? Are you certain it’s not a scam? 
I understood their apprehension. In Kenya, thousands of people have lost millions of dollars to Bitcoin-related scams. Just recently, a local cryptocurrency startup Nurucoin shut down, with the founder allegedly fleeing to California. Nurucoin, which touted itself as the ultimate pan-African cryptocurrency, purportedly made off with Kshs. 2.7 billion ($27 million). And this wasn’t the only scam; dozens of others have defrauded gullible investors, eroding faith in Bitcoin.
One of the vendors explained “I’ve heard of Bitcoin, but it was as a scam. One of my neighbors lost Kshs. 64,000 ($640) to a scam known as Velox. She had been told that she could make lots of money very quickly. But they closed and vanished overnight. That’s why I want nothing to do with Bitcoin.” (Translated from Swahili.)
She was referring to Velox 10 Global, a company that launched in Kenya in 2017. Founded by a Brazilian national, the company promised up to 50% monthly returns — but ended up making off with millions of dollars’ worth of investors’ money.
There was also one constant issue many cited as the reason for their apprehension – Bitcoin’s speed. As a speculative asset Bitcoin’s need for speed is minimal: but its efficiency as a transactional currency becomes a challenge. In Kenya, M-Pesa offers a convenient cashless payment method in three seconds. With Bitcoin taking at least ten minutes recently, its use for small day-to-day payments seems distant.
Despite the challenges, I managed to convince five vendors to open a Bitcoin wallet.
Bitcoin remittance
While Bitcoin may be slower than some of the payment methods available, including M-Pesa and Visa, it is certainly faster than the available cross-border funds transfer methods, and so this is what I decided to focus on. Luckily, one of the vendors had a relative in Ghana and I decided to discuss Bitcoin’s cross-border funds transfer capabilities.
The vendor, Jane Wangui, is a vegetable seller who also doubles up as a salonist. A mother of six, Wangui is no stranger to the internet and uses her smartphone to communicate with her clients on WhatsApp. Her sister has been living in Ghana for the past eight years. In that time, they have had to rely on the bank for funds transfers, with her sister sending money to support their mother. 
As has been well documented, including by the World Bank, remittance costs in Africa are the highest in the world. How expensive? It costs you $14 to send $100 to Ghana from Nairobi through Standard Chartered Bank. Equity Bank, Kenya’s largest bank by customers charges $18 for a similar amount, with KCB Bank costing $24. These high costs have proven prohibitive for many, but the options have been few.
Wangui was about to learn a much cheaper, faster and more convenient funds transfer method. I helped her download a Bitcoin wallet, Paxful in this case, which has a presence in both countries. The app has a simple user interface, making it easy to send and receive Bitcoin. 
Instead of sending the BTC to Wangui, I decided to help her buy from other traders. The Paxful app redirects you to the website which has hundreds of traders ready to sell. We settled on a trader who had great reviews and a fair price, sent the fiat through M-Pesa and in a few minutes, we had our $100 worth of Bitcoin.
The next step was contacting Wangui’s sister in Ghana. In a few minutes, she had set up her Bitcoin wallet. We sent the $100 worth of Bitcoin to her, costing us $2.10; just over one-seventh what the cheapest bank would charge. It also just took us 45 minutes to buy the Bitcoin and send it to Ghana.
The recipient in Ghana had the option of either cashing out the BTC and receiving the fiat equivalent or holding it for speculation. Wangui had learned that Bitcoin’s price can appreciate with time, and she advised her sister to hodl for a few weeks and see if she could make a few extra bucks. However, to complete the remittance process, I urged her to sell part of her BTC for Ghanaian cedi. 
Wangui, who had been a lifelong member of Equity Bank (which charges $18 for a similar transaction) vowed to always use Bitcoin for such transactions moving forward.
One woman’s valiant efforts
That day, I managed to reach out to around 30 people in Nakuru town, with over half opening Bitcoin wallets and getting started with their crypto journey. While my efforts in crypto education only stretched so far, one woman in Kenya has been doing much more, with her efforts gaining her national recognition.
Betty Wanjiru is a restaurateur located in Nyeri, a town 94 miles north of Nairobi. She discovered Bitcoin years ago in a networking group. However, it came at a cost, with a prior Bitcoin-related multi-level marketing scam seeing her lose Kshs. 550,000 ($5,500). She didn’t give up on Bitcoin, however, and she started looking up online for information on the digital currency. 
She lived in Nairobi then but later moved to Nyeri where she opened her restaurant, Betty’s Place. Her love for Bitcoin continued and she used her new establishment to spread the gospel, teaching the locals on what Bitcoin is, how to buy it, what you can do with it and more. She became one of the first merchants in Kenya to accept Bitcoin payments. She now accepts Dash as well. 
When she started, very few people in Kenya knew about digital currencies, she told me when I paid her a visit. So when she put up ‘Bitcoin Accepted Here’ signs in her restaurant, her clients had plenty of questions — some of them amusing. “Is this Bitcoin one of those exotic dishes from abroad?” one of her clients once asked her.
Betty soldiered on, teaching both tech-savvy young people and the elderly about Bitcoin. To the local community, she became their teacher and source of truth for everything Bitcoin. They consulted her on which companies to invest in, which wallets were safest, how much money to invest in Bitcoin, when to sell.
Her efforts have earned her national recognition as Bitcoin’s popularity has soared in the country, making her the poster child for Bitcoin adoption. As she told me, she has stepped up her efforts and she has now partnered with a few experienced traders to train young people on how they can make a living trading Bitcoin.
Does M-Pesa derail Bitcoin adoption?
In my education efforts, one question has been posed more than any other: why use Bitcoin when I have M-Pesa? For many day-to-day users, factors such as independence from government control, enhanced security, and privacy simply aren’t enough to abandon the convenience of M-Pesa for Bitcoin.
I asked Betty if she has found M-Pesa to be a deterrent to the adoption of Bitcoin. 
“Not at all. I think that having M-Pesa puts us at an advantage as a country. It’s easier to comprehend the concept of digital money,” she tells me. “All we need to make our people understand is that Bitcoin serves their needs better than M-Pesa does. Their money is more secure with Bitcoin; they can send money abroad at low charges and factors like these.”
Paxful, a Bitcoin wallet targeting African markets, reinforces Betty’s view. The country’s innovative payment system not only makes peer-to-peer trading instant and convenient, a company spokesperson told me. They also revealed that remittance is one of the greatest uses it has seen for Bitcoin on its platform. 
When it comes to educating Kenyans about Bitcoin, Paxful has been on the frontline. It has organized several campus outreach events, educating thousands of university students across the country about Bitcoin, some of them for the first time. The attendants also get to download the Paxful wallet on their phones, after which they received some Bitcoins to familiarize themselves with the digital currency.
“We made it our mission to launch a drive to educate people about the true use cases of Bitcoin and peer-to-peer finance. These workshops highlight how to avoid falling prey to bad actors in the crypto-space and counter the over-emphasis on Bitcoin speculation. Each attendee of the workshop also received free Bitcoin to start them on their journey,” the spokesperson told me.
A bright future for Bitcoin
Kenya has always been a leader in the technology sector in Africa. Bitcoin adoption hasn’t been any different, with Paxful revealing, “We have seen steady growth in Africa, with Nigeria, Kenya, South Africa and Ghana leading. Africa has many of the world’s unbanked people, fortunately, Bitcoin provides a new way for them to access the global financial system.”
The country has continued to provide a fertile ground for the growth of Bitcoin. This has been despite the negative press coverage in the country, with mainstream media branding it a scam. The numerous Bitcoin-related schemes have only made it worse. The government has done little to boost adoption, with the central bank governor warning Kenyans against the use of Bitcoin.
And yet despite this, new adopters like Wangui prove that Bitcoin still has a big role to play. As Betty told me:
“Kenyans love new technology and once the government stops opposing Bitcoin, and more people learn about its benefits, adoption in Kenya will take off. Kenya will become a leader in Africa when it comes to Bitcoin.” #Write2Earn

UK cannabis millionaire’s legal ‘deals on wheels’ via crypto
Maximillian White, owner of Europe's largest medical marijuana business, is now embracing crypto and blockchain.

Financial failure does not phase medical marijuana millionaire and entrepreneur Maximillian White. 
Europe’s wealthiest legal cannabis tycoon has seen misfortune quite a bit, twice in his own career and once in his father’s. However, his personal reaction when his business lost $29 million in the Cypriot banking collapse in 2012 was a little unusual.
Instead of eking out his remaining money, he blew it on buying a Rolls Royce that he drove about in public.
“I’m a proud man. I didn’t want people to think I was lost,” he says. “I may also be a poser.” In reality, he is a hard worker who isn’t afraid of failing.
Like many of his generation, White is now embracing blockchain — with a unique use case for NFTs — as part of his business.

He says the whole is better than the sum of the parts, like a cocktail.
For example, a Manhattan cocktail is a blended mix of whiskey, sweet vermouth and bitters. It’s the combination that makes it great. For me, it’s the combination of cannabis, blockchain and crypto – you can’t go wrong.”
Who is Maximillian White? 
White’s first career was in music production, including working on a track with Drake that resulted in the hit “One Dance.” He also built and sold a music streaming service called Beatport, which made him millions.

His love affair with Portugal saw him create a beach club called Blanco Beach, which was frequented by Rio Ferdinand and featured top performances from Tyga, Tory Lanez, Roger Sanchez, Rick Ross and French Montana. It has since closed.

White also has ADHD, which he reckons allows him to have an eclectic taste in music, from classical to U.K. funk and hip hop.
He says he knew he was going to be a business builder while still in primary school. When asked to dress up as the man he was going to be, he did not arrive at his classroom as a fireman or a policeman. Instead, he opted to dress up like an entrepreneur, wearing a sheepskin jacket and carrying a classic cloth swag bag.
He attributes his work ethic to his early life, singing as a chorister in Durham Cathedral and never having a day off, including singing on Christmas Day. 
He made most of his fortune selling medicinal marijuana to wholesalers around the world and setting up Europe’s largest plantation in Portugal, a massive 40-hectare farm. He somehow managed to secure multiple government partnerships in territories previously untapped.
He expanded into property in Dubai, Majorca and Eastern Europe and says his interest was sparked by the loss of the family home as a child. His father lost everything, and they had to move to a council home. He has since experienced even greater personal tragedy in the full glare of the public eye when his brother died in a violent altercation at a Dubai nightclub in 2022.
Legal marijuana and crypto
Many people who grew up with restrictive marijuana laws may be uncomfortable with legalized weed, but in recent years, the laws around the world have become increasingly liberal.
Read also: How Silk Road made your mailman a dealer
Medical marijuana is now legal in more than 50 countries, and nine countries have legalized recreational marijuana use, including Canada, Germany, South Africa and Thailand. Ironically, despite the Netherlands’ reputation, weed is not strictly legal there, though it is tolerated.
Back in 2021, White told Ladbible about plans to develop a cannabis industry cryptocurrency called MEDI. That token never launched — he got caught up building his medical marijuana business instead — but three years on, he’s revised and revamped the plans into something new.

Aided by digital marketeer Ricardo Capone, an old friend now serving as his chief technology officer, White has teamed his cannabis product with NFTs to provide a traceability engine on the blockchain for his plants.
White says that when he first came across NFTs, he didn’t see them as valuable art pieces. Even though Beeple’s $69 million NFT sale dominated the news, White was not excited about artist sales or royalties.
However, I instantly got smart contracts, that’s what excited me. I could see the future business use which would decrease the need for lawyers. People could buy cars or property using smart contracts, or you could sell a business with full transparency. Smart contracts made me delve further into the space.”
NFTs representing a business
However, White is not so sure about whether the term has a good reputation any more. Given he’s already selling recreational cannabis, he is slightly wary about doubling down by pairing it with the term “NFTs”.

“People lost a lot of money investing in NFTs, typically digital art, but the technology is what excites me. So, I think the onus is on us to educate people about this real-world asset, or digital asset, and what it can do. It’s not just about flipping art. 
“Again, I bring it back for business use,” he says, explaining how NFTs — which are unique tokens — can represent a fractional share of a real-world property. “For example, maybe people purchase properties today, using NFTs as a means of showing ownership. If you can’t afford the entire house, maybe you could buy a portion, and in the future, you could even sell that NFT, earn profit and put it into your next house.”
His latest crypto-related project is called Dr Green, with NFTs being used as part of the distribution business or what he calls “unique business passes for people.” A total of 5,145 unique NFTs provide holders with access to the Dr Green DApp so they can build a community to sell cannabis. There are also plans to release Platinum NFTs linked to cannabis-loving celebs who’ll create their own strains.
The DApp requires KYCing customers to ensure the product is only sold in regions where this is legal. Payments are taken in fiat or crypto, with the sellers’ markup paid out in Ethereum.DrGreen then ships the products out.

Supply chain tracking of weed on blockchain
White says the blockchain traceability proves the quality of the product and says he spent millions investing in the “cannabis farm, processing plant and R&D facility.” 
We have put significant money into developing one of the most sophisticated medical cannabis businesses. By putting our recreational business on the blockchain, we are using technology to track everything, ensure we are compliant with all laws, and it also allows us to function as a hub for distributed entrepreneurs.”
In short, the NFTs are a bit like a license to operate a business hooked into his distribution network and can be traded on to others if necessary. The value of the NFT rises based on how many customers it represents. Some will see this as a savvy business move blending technology and entrepreneurship, while others will no doubt see it as morally bankrupt and corrupting our youth. But times are changing.
“Our NFTs are acting like a digital key or real-world asset, where you can plug into the systems of a company that is already up and running.”
Interested, but still cautious about crypto
Despite his interest in blockchain, he is cautious about the hype around cryptocurrencies as a financial instrument and believes there is an inherent flaw in the way cryptocurrencies are valued against the dollar. 
“If the price of crypto is always going to be valued in real-world money, then how can it be decentralized? The dollar will never be decentralized, and I think that is a dangerous precedent.” #Write2Earn

El Salvador mines 474 Bitcoin using geothermal volcanic energy
El Salvador currently holds 5,750 BTC worth $354 million, accumulated over three years.
El Salvador has mined a total of 474 Bitcoin worth $29 million using volcanic geothermal energy since 2021.
The Bitcoin was mined with power from the country’s Tecapa volcano, using 300 mining processors. The country has allocated 1.5 megawatts (MW) to cryptocurrency mining out of the 102 MW produced by the state-owned power plant,accordingto Reuters.
In the face of increasing scrutiny over BTC mining’s reliance on electricity and fossil fuels, El Salvador has emerged as a pioneer in renewable energy mining.
In 2021, El Salvador made history by becoming the first country to adopt Bitcoin as a legal tender alongside the United States dollar. Since then, the government has adopted several Bitcoin-focused policies, including establishing a geothermal plant to mine BTC.
El Salvador now holds a total of 5,750 BTC worth around $354 million.
Since 2021, global organizations such as the World Bank and others have heavily criticized the Central American nation for adopting Bitcoin.
The bear market from 2022 to 2023 intensified scrutiny, with many questioning President Nayib Bukele’s actions. However, Bukele doubled down on his Bitcoin bet by announcing that the country would buy one BTC every day.
Bukele handily won the 2024 El Salvador presidential election with widespread support nationwide.
Bitcoin mining and its use of fossil fuels have long been controversial topics in the crypto industry.
The Ripple-backed Greenpeace, among others, has advocated for transitioning Bitcoin from proof-of-work to proof-of-stake. New York Governor Kathy Hochul signed a proof-of-work mining moratorium into law on Nov. 22, 2023, making it the first state in America to ban any PoW crypto mining activity for two years.
After purchasing $1.5 billion worth of Bitcoin, Tesla CEO Elon Musk pledged to incorporate it as a payment method for Tesla cars. However, he reversed his decision soon after, citing the negative environmental impact of mining. Musk said he would reconsider this move only when over 50% of Bitcoin mining operates on renewable energy sources.
Since Musk made his promise, numerous reports have suggested that over 60% of BTC mining relies on renewable energy sources.
Musk has yet to acknowledge these reports or implement a BTC payment option. Tesla currently faces a lawsuit for repeatedly violating the Clean Air Act by releasing harmful pollutants from its Fremont factory into nearby neighborhoods.

Two brothers manipulated Ethereum protocols to steal $25M — Justice Dept
U.S. officials said the individuals engaged in a "first-of-its-kind manipulation of the Ethereum blockchain" by tampering with its protocols over validating transactions.
Authorities with the United States Department of Justice have unsealed an indictment alleging that two individuals stole $25 million in cryptocurrency in a scheme that “exploit[ed] the very integrity of the Ethereum blockchain.”
In a May 15 notice, the Justice Department charged brothers Anton Peraire-Bueno and James Pepaire-Bueno with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. According to U.S. officials, the brothers fraudulently obtained $25 million worth of crypto “within approximately 12 seconds” using a scheme that “calls the very integrity of the blockchain into question.”
“These brothers allegedly committed a first-of-its-kind manipulation of the Ethereum blockchain by fraudulently gaining access to pending transactions, altering the movement of the electronic currency, and ultimately stealing $25 million in cryptocurrency from their victims,” said Thomas Fattorusso, a special agent with the IRS Criminal Investigation’s New York Field Office.
U.S. authorities said the brothers rejected requests to return the stolen funds and hid the assets using shell companies and foreign crypto exchanges, transferring them to several wallets. They could face up to 20 years in prison for each count if convicted. #Write2Earn