Grayscale Bitcoin Trust (GBTC) experienced $63.0 million in inflows on May 3, Farside data indicates. The relevant daily inflows mark the first time since GBTC’s January launch that the fund avoided outflows, breaking its 16-week outflow streak. However, GBTC’s latest day of inflows is lower than its average daily outflows over the past several weeks of trading. The fund’s total outflows currently stand at $17.5 billion. GBTC has $18.1 billion in assets under management (AUM) as of May 6, making it the largest spot Bitcoin ETF by AUM, according to Coinglass data. Possible causes Bloomberg ETF ..read more

Bitcoin network processed its one billionth transaction 15 years after it mined its genesis block in January 2009. Notably, the network achieved this milestone the same day a Satoshi-era Bitcoin address came to life. 1 billion transactions According to data from the Bitcoin dashboard on Clark Moody, the network processed its one billionth transaction in block 842,241 at 05:34 UTC+8 on May 6. On average, the network has processed 178,475 transactions daily within the 15 years of its launch. The milestone drew praise from the crypto community, who have set eyes on the next billion target. Tarik ..read more

Former BitMEX CEO Arthur Hayes expressed optimism regarding Bitcoin’s future trajectory, suggesting that the recent downturn marks a local bottom, with the flagship crypto poised for a gradual ascent over the coming months. Hayes shared his insights in a blog post on May 3, attributing the recent market slump to a variety of factors, including the US tax season, concerns over Federal Reserve policies, the “sell the news” effect following the Bitcoin halving, and a slowdown in spot Bitcoin ETF inflows. Despite these challenges, Hayes remains confident in Bitcoin’s resilience, characterizing the ..read more

Blockchain security firm Cyvers Alert reported that an unnamed crypto trader lost 1,155 Wrapped Bitcoin (WBTC), equivalent to $70.5 million worth, to address poisoning. The firm said: “Are we mistaken, or has someone truly lost $68 million worth of WBTC? Our system has detected another address falling victim to address poisoning, losing 1,155 WBTC.” Meir Dolev, the founder and CTO of Cyvers, added that this was “probably the highest value lost due to an address-poisoning scam.” Address poisoning Address poisoning is one tactic malicious entities employ to exploit crypto traders. This nefario ..read more

CleanSpark has released its first monthly unaudited Bitcoin mining and operations update since the halving. The company exceeded 17 EH/s in hashrate, mining an impressive 721 BTC with a record daily high of over 48 BTC. CEO Zach Bradford highlighted the company’s monthly gains in efficiency metrics as they deploy advanced S21 machines across their expanding facilities. These improvements have amplified mining output and optimized operational costs. He commented, “The remarkable increase in transaction fees immediately following the halving has significantly bolstered our bitcoin production th ..read more

MicroStrategy executive chairman and co-founder Michael Saylor believes the SEC will classify Ethereum as a security this summer and reject the related spot ETF applications filed by various asset managers, including BlackRock. Saylor made the prediction in a social media post on May 2 during a presentation at the MicroStrategy World 2024 conference. He further predicted that other cryptos “down the stack” will also gain an unregistered security designation, including BNB, Solana (SOL), XRP, and Cardano (ADA). Saylor said: “None of them will be wrapped by a spot ETF, none of them will ever be ..read more

In the latest episode of the SlateCast, Liam “Akiba” Wright and Nate Whitehill welcomed Bob Bodily, the CEO and co-founder of Bioniq, to discuss the future of Ordinals, the programmability of Bitcoin, and the potential impact of these developments on the broader crypto ecosystem. Bodily, a passionate advocate for the decentralized and permissionless nature of Bitcoin, shared his insights on the ongoing debates around Ordinals and the challenges and opportunities they present. The Runes Craze and Bitcoin’s Narrative The discussion started with a deep dive into the Runes craze, a recent phenomen ..read more

Arkansas State Governor Sarah Huckabee Sanders is expected to sign two new bills regulating crypto mining activities within the state, according to various sources. The state lawmakers passed Senate Bills 78 and 79 on May 1 to tighten the regulations governing crypto miners in the state. These legislative initiatives respond directly to concerns raised following the passage of Act 851. Although Act 851 sailed through the 2023 regular session, it has faced backlash for its perceived lack of oversight regarding crypto mining activities. Locals have reportedly expressed concerns about the loud no ..read more

In the latest episode of the SlateCast, CryptoSlate welcomed David Tse, CEO and co-founder of Babylon Chain, to discuss the groundbreaking concept of Bitcoin staking and its potential to secure Web3. Joining David was Senior Editor Liam “Akiba” Wright and CryptoSlate CEO Nate Whitehill, who delved into the intricacies of this innovative protocol and its far-reaching implications. Bitcoin’s Underrated Properties The conversation started with David highlighting Bitcoin’s often-overlooked properties, particularly its function as a global timestamping server. “Bitcoin is a global timestamping serv ..read more

MicroStrategy’s chairman, Michael Saylor, revealed the firm’s ambitious plan to introduce a decentralized identity solution called MicroStrategy Orange on the Bitcoin network during his Bitcoin For Corporations talk on May 1. Saylor underlined the potential of establishing a universal standard with the distinctive orange checkmark, envisioning it as a global alternative to the commonly recognized blue or green checks. He stated: “Wouldn’t it be great if instead of a blue check, green check, etc., there was an orange check that was a global standard? With MicroStrategy, maybe we could approach ..read more