Elon Musk resigns as Twitter CEO
Elon Musk announced he will step down as Twitter CEO and Linda Yaccarino, NBC Universal’s former head of global advertising, as Twitter’s next leader. Elon Musk’s new role at the company would be executive chairman and chief technology officer, overseeing product, software, and system operations.
Metal Blockchain Price soars due to the integration with FedNow
The Federal Reserve’s instant payment service FedNow will be integrated with Metal Blockchain, according to a May 11 announcement from the Metal Blockchain team. This information caused the price of METAL to increase in a short time.
Binance’s spot trading volume drops to second-lowest level since 2022
Binance’s trading volume dropped to $287 billion last month, the second-lowest level since 2021. The exchange’s market share also fell for a second month, to 46%.
Coinbase faces boycott backlash after calling PEPE a “hate symbol”
In an email newsletter sent to Coinbase users on May 10, the crypto exchange called Pepe a “hate symbol” while highlighting an association of the Pepe the Frog meme to political groups. While the email has a disclaimer that dissociates the writer and does “not necessarily reflect the views of Coinbase or its employees”, a legion of fans and investors of the frog-themed meme coin were outraged at Coinbase’s portrayal of their beloved token.
Milady NFT surges after Elon Musk tweet
On May 10, Elon Musk tweeted a meme created using imagery from the Milady non-fungible tokens (NFT) collection. The floor price of Milady NFTs rallied sharply after Elon Musk tweet.
Goldman Sachs, Microsoft and others cooperate to launch new blockchain
A new blockchain network for financial institutions called Canton is being developed by a group of financial and technology giants, including companies like Microsoft and Goldman Sachs.
Jane Street and Jump Trading moving away from crypto
Jane Street Group and Jump Crypto – two of the world’s top market-making firms – are pulling back from trading digital assets in the US as regulators crack down on the industry.
Binance NFT will list Bitcoin NFTs – Ordinals
Binance, the world’s largest crypto exchange, is looking to enter the growing Bitcoin Ordinals market amid the memecoin craze that is pushing the market value of the BRC-20 token to nearly $1 billion.
Bitcoin’s ‘BRC-20’ explosion sends users scrambling for options
The effects of the BRC-20 mints range from halting of bitcoin withdrawals on Binance to frustration with the sudden high costs of making bitcoin payments in places like Africa and South America.
Grayscale expands, files for three new crypto ETFs
Crypto asset manager Grayscale Investments has announced the launch of Grayscale Funds Trust, a new entity managing its growing funds. Simultaneously, the firm has filed for three new crypto-focused ETFs (exchange-traded funds) with the United States Securities and Exchange Commission (SEC). The proposed ETFs include Ethereum Futures ETF, Global Bitcoin Composite ETF, and a Privacy ETF.