Author: Coindesk
We may not need to reuse OpenStack directly, but we need to build something similarly usable (and similarly reliable, which is the difficult part). We will have to blend our home-grown incentive structures with Web2 and cloud hyperscaler monitoring, compliance and security technologies in order to succeed. We need to design hybrid centralized/decentralized SLAs (service level agreements — the contracts between you and a cloud storage provider). We need to secure it with a buffet of reliability incentives, security attestations, zero-knowledge proofs, fully homomorphic encryption, computation fraud proofs, governance protocols and more. Read the full article here
Long-term senior OKX executives Tim Byun, who was in charge of global government relations at the world’s second-largest cryptocurrency exchange, and Head of Product Wei Lan have both recently left the company, according to people familiar with he matter. Read the full article here
Congress has for years struggled to get any new laws passed for cryptocurrencies, providing greater clarity sought by both critics and proponents of digital assets. Stablecoin legislation may, nonetheless, be the lowest-hanging fruit given that stablecoins strongly resemble other regulated products like money-market funds, and there’s a strong incentive to create guardrails since they own important conventional assets like U.S. Treasuries. Read the full article here
“Many banks, endowments, and pension funds worldwide are only now beginning their due diligence processes before considering strategic allocations to BTC through newly launched ETFs,” Kerbage continued. “As these large financial institutions make decisions over the coming months, it is likely that inflows will increase once again, potentially reaching new milestones for what has been one of the most successful ETF launches in US history.” Read the full article here
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The biggest difference between the 2020 halving and the 2024 halving is skyrocketing institutional demand. Prior to the previous halving, institutions were on the sidelines. The market was dominated by retail investors. Since then, the market dynamic has drastically shifted. As one example, MicroStrategy didn’t make its first BTC purchase until August 2020. As of April 2024, the company reportedly holds 214, 246 BTC (roughly $13.625 billion). Of the 21 million bitcoins that will ever exist, around 12.27% currently belong to publicly traded and private companies, ETFs and countries. Read the full article here
DePIN projects collectively have tokens worth tens of billions of dollars. But how much revenue are they, as a group, generating? Something like $15 million a year, said Rob Hadick, a general partner at Dragonfly, a crypto venture capital fund. “Most of the protocols aren’t constrained by supply, but by a lack of demand,” he said in an interview. Read the full article here
Bitcoin miners who have not optimized their existing infrastructure, built their own high-performing data center team, developed their own software stack, and managed their power contracts effectively will face a difficult period after the halving. They will be highly vulnerable to larger players who have the infrastructure to dramatically improve their operations. As a result, the bitcoin mining industry will likely see consolidation as miners with access to more capital continue to expand their operations opportunistically. To remain competitive, it is even more important for smaller miners to prioritize efficient, productive operations. Read the full article here
Alongside BTC’s dramatic 50% rise since the launch of spot bitcoin exchange-traded funds (ETFs) in the U.S. in January, Stack’s native token, STX, has risen over 70%. The token has gained over 250% since the launch of the Ordinals Protocol, pushing it into the ranking of the top 30 largest tokens. Read the full article here
Tokenization company PV01, helmed by founders of crypto market maker B2C2, has completed its first tokenized bond sale under English law, the team said Tuesday, marking a crucial step towards a goal of creating a bond market on blockchain rails – including corporate debt. Read the full article here