The latest price moves in bitcoin (BTC) and crypto markets in context for April 27, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
PancakeSwap DAO Votes For “Aggressive Reduction” of CAKE Token Inflation
A vote, which is supposed to end Friday, has seen 70% of the community vote in favor of reducing block rewards drastically over the next few months.
Cross-Chain Bridge Stargate’s Volume Soars as Airdrop Hunters Set Sights on LayerZero Token
Volume on the Stargate cross-chain bridge has surged by 30% in the past 24-hours as investors attempt to meet the criteria for a rumored LayerZero airdrop.
Bitcoin’s Negative Correlation With Dollar Index Strengthens Ahead of U.S. GDP Data
The 90-day correlation coefficient between the two has declined to -0.70 from -0.11 four weeks ago, hinting at a strong inverse relationship.
Stablecoin Reserves Need to Be Diverse, EU Bank Agency Chief Says
The EBA’s José Manuel Campa urged crypto players to start managing risks right away as new norms bed in.
Crypto Storage Provider Zodia Custody Raises $36M From SBI Holdings, Standard Chartered
Zodia Custody will use the funding to increase its token coverage and enhance its settlement product, Interchange.
UK Charities Offered Guidance for Accepting Crypto Donations
Nonprofits need to weigh up the risk of volatility and hacks, and follow money laundering norms, the Charity Commission said.
Bitcoin Market Impact From Mt. Gox Repayments Will Be Limited: Matrixport
Not all the stolen bitcoin was recovered, so only a fraction of the original amount held by creditors will be compensated, the report said.
Bitcoin’s ‘Estimated Leverage Ratio’ Hits Lowest Since December 2021
The estimated ratio indicates how much leverage is used by traders on average, according to CryptoQuant.
DEX Merlin and CertiK Plan to Compensate $2M to Users Impacted in Rugpull
A rogue developer behind the hyped launch allegedly conducted the rugpull on Wednesday.
Bitcoin Volatility Hits Longs and Shorts as $175M Liquidated, $1B in Open Interest Wiped
Few leveraged futures traders were safe as bitcoin’s price movements impacted both longs and shorts.
First Mover Asia: Bitcoin Seesaws Wildly Before Settling Above $29K
ALSO: Writing about different sessions at Consensus 2023, CoinDesk columnist Daniel Kuhn considers the difficulty that the builders of decentralized finance (DeFi) and financial regulators are having in finding linguistic common ground.
Ex-a16z Engineering and Security Heavyweights to Start Crypto Custody Firm: Source
a16z’s former CTO, Riyaz Faizullabhoy, and former CISO Nassim Eddequiouaq have the blessing and seed backing of the venture capital giant, a person familiar with the plans said.
Crypto Innovation and Regulation Can Co-Exist, Top Industry Executives Agree
In a wide ranging conversation, four crypto industry senior executives discussed what’s next in the digital asset market’s evolution.
Bitcoin Could Be ‘Great’ Investment for IRA or 401K Plans
Retirement accounts offer tax-free crypto investing forever and provide an effective way to lower overall portfolio risk said ForUsAll CEO David Ramirez
Technology Is Blocking Mass Adoption of Web3
The clumsy and confusing user experience of onboarding into Web3 is preventing broad adoption, but technological improvements are the solution, says a panel of Web3 executives.
Tradfi Sees Opportunity in Crypto Despite ‘Red Wedding,’ Burning Buildings
Institutional investors are salivating over opportunities in growth equity and depressed tokens that took an undeservingly excessive hit during crypto’s bear market, market participants said during Wednesday’s Consensus 2023 event.
Grayscale CEO Expects Decision on Attempt to Overturn SEC’s ETF Rejection by End of 3Q
Michael Sonnenshein still sees crypto industry in its “early days.”
Salesforce Exec: Web3 Needs a ‘Reboot’
Salesforce Senior Vice President Marc Mathieu said at Consensus 2023 That Web3 leaders must promote decentralization and build communities to win over new users.
WisdomTree CEO Says Crypto Is “Natural Evolution” of ETF Products
WisdomTree CEO Jonathan Steinberg discusses his company’s soon-to-launch crypto wallet for trading tokenized real world assets such as gold. Blockchain brings democratization to traditional finance, he tells CoinDesk Editor-in-Chief Kevin Reynolds.