The latest Bitcoin, DeFi, NFTs and web3 news from CryptoSlate.
Dogecoin gaining popularity for illegal activities, Elliptic report says
Elliptic revealed that there have been several instances where the popular meme coin have been used by bad actors for their gain.
Solana launches Android smartphone ‘purpose-built for crypto’
Solana has announced the launch of their Android smartphone named Saga and the Solana Mobile Stack software for Android.
Quantum Economics partners with LitBit for project incubation
The two companies aim to combine their resources to identify new crypto projects with significant potential and help them achieve their goals.
Max Keiser suggests corruption could be at play over SEC’s denial of spot Bitcoin ETF
Max Keiser suggests the SEC's stance on spot BTC ETFs boils down to a conflict of interest within the organization.
Coinbase to launch Advanced Trade as a replacement for Coinbase Pro
Coinbase is actively integrating features into Advanced Trade as it prepares to phase out Coinbase Pro later this year.
Binance CEO says bailouts for bad projects ‘don’t make sense’
CZ wrote that bad projects should not be saved regardless of the number of their users.
US Senators call on OSTP to restrict PoW mining to zero-carbon energy sources
Five U.S. Senators are proposing to create a national registry for PoW mining companies and mandating them to provide regular disclosures about their energy sources and carbon emissions.
Jim Cramer says bull market may return soon but full recovery for Bitcoin years off
A bull market within the current one may emerge if a number of conditions happen, but Bitcoin is not likely to reach its old highest for years to come.
MATIC pumps 23% on launch of Polygon ID solution
Polygon ID, a Web3 solution to identity verification, and a collaboration with Bentley Motors, help drive the MATIC price to an 11-day high.
Analysis of previous Bitcoin bottoms suggests more pain to come
The data puts a bottom price of $13,800 on Bitcoin, but the extraordinary times we are living could result in a more severe drawdown.
Meta will grow to billions of people spending hundreds, Zuckerberg says
Mark Zuckerberg said Meta is aiming at becoming a large social platform with a solid economy, including billions of people who spend hundreds of dollars.
Experts say the crypto downturn shouldn’t affect the U.S economy
The massive crypto sell-off has sparked fears of a recession in the broader economy. Experts say the losses are too insignificant, and its influence is too little to cause this.
Ethereum to shutdown 3 testnets after Merge
Ethereum foundation has revealed that Kiln, Rinkeby, and Ropsten testnets would be deprecated after Ethereum’s transition into a proof-of-stake network.
Chainalysis unveils a 24/7 hotline for victims of cryptocurrency crimes
Chainalysis response service will match crypto crime victims with a team of investigative experts to trace the funds and attempt their recovery.
Bitcoin miners are forced to sell to cover operating costs
In May, a BTC sell-off trend for its miners began as its price fell to an 18-month low. More miners are forced to sell as the Bitcoin prices continue their downtrend and the electricity fees increase.