Author: Coindesk

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“We need rules of the road,” said Rep. Josh Gottheimer (D-N.J.), one of the Democrats who bucked the opposition of the White House and the ranking Democrat on the House Financial Services Committee, Rep. Maxine Waters (D-Calif.). He called it “well-reasoned, thoughtful, bipartisan legislation” and argued before the vote that “it’s fit to become law if we work together.” Read the full article here

Conclusion: It’s not too late to explore the vast opportunities in the blockchain space. As the industry continues to evolve and mature, early adopters stand to benefit from investment opportunities, technological advancements, and market growth. Blockchain tech holds immense potential beyond finance, offering transparency, security, and efficiency across various industries. By dispelling myths, embracing opportunities, and staying informed, businesses can harness the power of blockchain to drive innovation, foster trust, and achieve sustainable growth. Read the full article here

Nvidia shares were lower by 1.5% just ahead of the close of regular trading Wednesday, with the earnings results due after the bell.Patrick Moorhead, founder and CEO of Moor Insights & Strategy, said in an interview with Yahoo Finance earlier this week that “the company is going to clearly beat expectations.” The stock has climbed 90% this year and more than 200% year-over-year. Read the full article here

The SEC’s sister agency in policing the U.S. markets, the Commodity Futures and Trading Commission (CFTC), has taken a strong pro-legislation position, arguing that existing law leaves a hole in oversight of the crypto spot markets for non-securities, such as bitcoin (BTC). CFTC Chairman Rostin Behnam has told lawmakers that “Congress needs to act” on crypto legislation, and he’s said that if FIT21 passes, his agency can build a regulatory framework within 12 months. A CFTC spokesperson told CoinDesk on Tuesday that the agency would not comment on the bill. Read the full article here

“The industry has superficially recovered this year, in part due to controversial approval of spot BTC ETPs by the Securities Exchange Commission,” the letter said. “Yet, the scams, hacks, theft, instability, reckless promotional activities, and regulatory evasion that were present during the last crypto bull market remain endemic in the industry today.” Read the full article here

MEV SNIPING! It’s not clear exactly what started it all, but top Ethereum developers locked horns on the social-media platform X, in an intense and almost uncomfortable-to-observe debate touching on the practice of maximal extractable value, or MEV – essentially, the use of sophisticated trading bots to frontrun user transactions at the point of execution. On May 16, Ethereum core developer Péter Szilágyi tweeted about his despair over the lack of progress in pushing to solve some of the blockchain’s most vexing issues. “Voila, the banking system recreated,” he wrote. One of his points was that Ethereum had “glorified” MEV,…

For those unfamiliar, a public blockchain transparently records information in a time-bound manner, accessible to all, globally, and without gatekeeping. This allows anyone to verify the validity of information, such as its creator or a timestamp, making it a source of truth. Public blockchains are also decentralized, eliminating the need for a central decision-maker, and reducing the risk of manipulation. This decentralized structure also offers high network security by eliminating single points of failure, and ensuring an immutable and tamper-resistant record. Read the full article here

The commission, an independent statutory body, started an investigation into into the iris biometric cryptocurrency project in December following privacy concerns. It carried out 10 visits between December 2023 to January 2024 across six premises that were involved in the operation of the project. Read the full article here

“This is a great sign of Starknet’s growth and maturity,” said the CEO of StarkWare, Eli Ben-Sasson, in a statement to CoinDesk. “Starknet dared to be different, and use the powerful Cairo language, instead of Solidity. At the same time, some developers want the zkEVM approach, and for that reason, this is excellent news for the network.” Read the full article here