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Crypto Morning Briefing: White House Wants Crypto Miners To Pay 30% Climate Change Tax

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Top Stories

Blur NFT Lending Surpasses $16M in Loans, Led by Machi Big Brother

According to data sourced from user @beetle from Dune Dashboard, nonfungible tokens (NFT) marketplace Blur has facilitated 8,820 Ether (ETH), or roughly $16.37 million, in loans through its perpetual NFT lending protocol Blend one day after launch.

Sports Illustrated Launches NFT Ticketing Platform on Polygon

U.S. sports publication Sports Illustrated is launching a non-fungible token (NFT) ticketing platform built on the Polygon network, an Ethereum scaling tool.

Gemini Launches Derivative Platform in 30 Countries

Gemini has launched a non-U.S. derivatives platform —Gemini Foundation —in 30 countries, according to a May 2 statement.

Biden’s Bold Move: White House Wants Crypto Miners To Pay 30% Climate Change Tax

The Biden administration proposes a 30% tax on crypto miners to address climate change.

Coinbase Will Never Delist ETH as XRP, Top Lawyer States Why

Bill Morgan, a former SEC and securities attorney, believes Coinbase can never treat Ether (ETH) and/or Bitcoin (BTC) the same way it dealt with XRP when the U.S. SEC sued Ripple, claiming that the sixth-largest cryptocurrency by market capitalization is a security.

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $27,981.60 USD, dropped by 4.93% in the last 24 hours;

ETH’s live price is $1,823.47 USD, dropped by 3.80% in the last 24 hours;

BNB’s live price is $328.55 USD, dropped by 2.72% in the last 24 hours;

XRP's live price is $0.46 USD, dropped by 2.40% in the last 24 hours.

Fundraising News

Cosmos-Based Defi Protocol Nolus Raises 2.5M to Build the First Cross-Chain Defi Lease

Nolus, an interoperable application on Cosmos, has secured $2.5 million in pre-seed and seed funding to tackle inefficiencies in DeFi money markets.

New AI Crypto Coin yPredict Raises Nearly $500,000 in Presale - Here's How to Buy Early

New AI-based analysis platform yPredict has raised close to $500,000 in its presale, which has now entered its fourth stage out of eight.

Swords of Blood Raises $1.2 Million in Presale for Web3's Next Hit Hack-and-Slash Thriller

Swords of Blood raises $1.2 million in its second presale stage, offering SWDTKN for $0.07, the native token that powers the game's ecosystem on the Polygon network.

Entendre Finance Raises $4 Million in Seed Funding for Automated Web3 Accounting Solution

Entendre Finance, a NYC-based automated end-to-end accounting and bookkeeping solution for businesses operating in Web3, raised $4M in seed funding. The round was led by Basis Set with participation from Valhalla, Caffeinated, Moonpay, Alumni, MDig and Alpine.

Ark Invest Adds $8.4M in Coinbase Shares, Remains Bullish

Ark Invest, the U.S. investment management firm led by Cathie Wood, has acquired more Coinbase shares, adding 129,604 shares worth over $6.4 million to its Ark Innovation ETF. 

Statement: Fake news about Temasek's investment in Array

(Cointime)On May 2, Temasek, the Singaporean state-owned investment company, issued a statement denying reports that it had invested in Array, a technology company. The statement came after news articles and a tweet from Array claimed that Temasek had made an investment in the company.

a16z Urges UK to Take "Nuanced" Approach to Crypto Regulation as US Loses Edge

Crypto-focused division a16z of VC giant Andreessen Horowitz has urged the UK Treasury to take a more "nuanced" approach to regulating the crypto space, praising the country's "proportionate and focused, agile and flexible" regime.

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    Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, introduced some fund tokenization pilots at an event for asset managers. These pilots are part of the Project Guardian and MAS Global Layer 1 (GL1) tokenization plans. Chia Der Jiun emphasized the advantages of tokenization in real-time settlement and process automation, which can improve efficiency and achieve greater customization of funds. UK asset management company Schroders and fund distribution platform Calastone are exploring this as part of the Project Guardian public blockchain trial in Singapore. A recent survey by Calastone showed that 96% of asset management companies in the Asia-Pacific region plan to launch tokenized products within three years. Chia stated that as these Project Guardian pilot projects approach commercialization, MAS is working with the pilot project managers to study the legal and regulatory treatment and impact of tokenized investment funds."

  • Indonesia's Financial Services Authority to Regulate Crypto Industry in 2025 with Evaluation in Regulatory Sandbox

    Indonesia's Financial Services Authority (OJK) will take over regulation of the crypto industry from the commodities agency Bappebti. Crypto firms must undergo evaluation in a regulatory sandbox before being licensed to operate in the country. The OJK aims to prioritize consumer protection and education, and firms operating without evaluation in the sandbox will be considered illegal. The sandbox provides a safe and isolated environment for testing and innovation development, helping to enhance security and responsible management in the financial sector. Once under OJK's oversight, crypto assets will likely be reclassified as financial instruments.

  • The Shenzhen Illegal Fund Raising Prevention Office issued a risk warning on the "DDO digital options" business

    The Shenzhen Office for Preventing and Dealing with Illegal Fundraising issued a risk warning regarding the "DDO digital option" business. The activities related to the DDO digital option business conducted in the name of Dingyifeng International are essentially the issuance and trading of virtual currencies. According to the "Notice on Further Preventing and Dealing with Risks of Speculation in Virtual Currency Trading" jointly issued by ten departments including the People's Bank of China in September 2021, it is clear that virtual currency-related business activities are illegal financial activities, and overseas virtual currency exchanges providing services to residents within China are also illegal financial activities. The activities conducted by Dingyifeng International in the name of serving residents within China are suspected of illegal fundraising and other illegal financial activities. Our office has organized relevant departments to carry out work, resolutely deal with illegal fundraising and criminal activities, and seriously investigate the legal responsibilities of relevant personnel. (Shenzhen Local Financial Supervision and Administration Bureau)

  • The Hong Kong Legislative Council plans to review the relevant stable currency consultation and sandbox legislation at the end of this year or next year

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  • BTC breaks through $70,000

    The market shows that BTC has broken through $70,000 and is now reporting at $70,003.6. The intraday decline has reached 0.58%, and the market fluctuation is large. Please be prepared for risk control.

  • Base TVL exceeded US$3 billion, with an increase of 71.79% in the past 7 days

    According to the latest data from L2beat, supported by cryptocurrency exchange Coinbase, the total locked value (TVL) on the Base chain, a layer 2 solution for Ethereum, has surpassed $3 billion. At the time of writing, it has dropped to $2.99 billion, with a 7-day increase of 71.79%, reaching a new historical high.

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