Weekly Recap
May 10th, 2021 - May 17th, 2021
Welcome to our 2nd weekly recap for May.
Overview
Crypto News
Binance, the largest exchange by trading volume, is facing money laundering and tax evasion investigations from the U.S. Justice Department and the Internal Revenue Service, according to Bloomberg.
Elon Musk tweeted today that Tesla has suspended vehicle purchases using Bitcoin. He said that Tesla is concerned about the rapidly increasing use of fossil fuels for Bitcoin mining.
Just now, major crypto trader Binance has tweeted that withdrawals of Ethereum and all tokens based on its ERC-20 standard will be suspended during temporary wallet maintenance.
New York’s Greenidge power plant—which has been repurposed for Bitcoin mining in 2017—is going to be entirely carbon-neutral starting from June, Reuters reports.
Crypto mining firm Core Scientific CEO Kevin Turner has dismissed the debate on bitcoin’s environmental impact, terming the asset as 100% carbon neutral days after Tesla (NASDAQ: TSLA) suspended the digital currency payments over its carbon footprint.
South Korean tech giant Samsung has added support for third-party cryptocurrency hardware wallets to its Galaxy smartphones. These wallets including the Ledger Nano S and Nano X.
Tesla’s price has fallen another 4% today as the stock continues its downtrend from the high of $900 in January to $564 at the time of writing as pictured above.
According to the Patentscope database that indexes the documents of the World Intellectual Property Organization (WIPO), Japanese digital conglomerate Sony has considered Bitcoin (BTC) integration since 2019.
The top-10 Bitcoin (BTC) mining pools by hash rate distribution are now signaling for Taproot activation with BTC.Top being the latest among them as of the time of writing.
BONUS:
- ‘Elon Musk has nothing to do with DOGE’: said one cryptocurrency developers
- China Bans Bitcoin Again
