USDC Supply Shrinks by $10 Billion in March, But Hits 6-Month High on Smart Contracts
USDC supply declined by $10 billion in March following its exposure to the US banking crisis.
However, the stablecoin use on smart contracts reached a six-month high of 42.08%.
Tether USDT is now the dominant stablecoin, accounting for over 60% of the market.
Bittrex Quits US, Cites Unfavorable Regulatory Environment
Crypto exchange Bittrex said it was leaving the United States because of the regulatory environment.
The crypto company had had previous skirmishes with financial regulator in the country.
Crypto stakeholders have warned that the US regulatory landscape would force many firms out of the country.
Binance Executives Lawyer Up Amid CFTC Lawsuit
Former Binance.US founding executive Catherine Coley has enlisted Sullivan & Cromwell partner James McDonald to be her legal counsel after the CFTC sued Binance.
Coley stepped down from her leadership role at Binance.US over differences in Binance CEO Changpeng Zhao’s corporate governance.
Binance’s corporate actions have recently been diverging from its public statements, according to the CFTC suit and several recent corporate actions.,
Breaking US Government Plans to Sell 41,500 BTC from Silk Road
U.S. authorities will sell the seized Bitcoin remaining from the Ross Ulbricht Silk Road case in four tranches this year.
The government has alread sold about 9,800 BTC related to the case earlier this month.
Analytics firm CryptoQuant suggested that the movement of BTC by the government earlier this month caused the Bitcoin price to fall.
Citi Bank Estimates Tokenization to Grow 80x in Private Markets
Citi Bank predicts in its March report that blockchain-based tokenization will potentially reach a billion users.
The report calls the tokenization of financial and real assets a “killer use case” for blockchain.
The investment bank anticipates that tokenization will increase by a factor of 80x in private markets.
ChatGPT Halted in Italy While Elon Musk Urges AI Pause
Italian Authority restricts ChatGPT over data privacy concerns.
Lack of age verification raises concerns for minors’ protection.
Elon Musk and AI experts call for a pause in large-scale AI experiments.
Space Force Major Tells U.S. to Stockpile Bitcoin as Weapon of Self-Defense
Space Force Major proposes Bitcoin as a cyber self-defense tool.
The thesis suggests stockpiling BTC and promoting domestic crypto mining.
The idea faces political and technical challenges in the U.S.
Bitcoin Mining Now Greener Than Electric Vehicle Technology, Hydro Power Grows
Bitcoin mining is becoming increasingly green, powering 52.6% of the mining industry.
Assuming a proportional distribution of EV technology, Bitcoin would use 38% less coal than EVs.
A piece of art known as the Skull of Satoshi has become an accidental mascot of sorts for BTC mining.
Ormeus Coin Founders Fined $46M for ‘Massive Crypto Asset Fraud’
The United States Securities and Exchange Commission published a notice saying that it had obtained a judgment against the siblings behind the Ormeus Coin project.
The two founders were fined $46 million for the token.
Charges of fraud and conspiracy were first presented last year.
The Anti-Crypto Army Faces Opposition in the U.S.
Anti-crypto army led by Senator Elizabeth Warren faces opposition from influential conservative groups.
Warren seeks bipartisan support for a bill imposing tougher anti-money laundering restrictions on digital assets.
Crypto industry and its proponents argue that the proposed bill is vague, broad-reaching, and unconstitutional.