MicroStrategy CEO Michael Saylor is receiving satoshis from the crypto community via his corporate email address. This and more news is in this handy daily digest so you're always up to date with the latest developments in the crypto world.
Crypto community sends satoshis to Michael Saylor
📍The president of business intelligence and analytics company MicroStrategy, Michael Saylor, is receiving transactions of 21 satoshis to his email address. Saylor reported this via his Twitter account, where he shared that his corporate email address has been converted into a Lightning Network address, where he is receiving satoshis, the smallest unit of Bitcoin, from the crypto community.
Saylor is one of Bitcoin’s biggest proponents and, through his company, is promoting institutional adoption of both BTC and its scaling protocol Lightning Network.
Ethereum hits 11-month high
📍Ethereum price on the rise after Shapella mainnet implementation. ETH has gained almost 12% in the last week, following the activation of Shapella on April 12. The arrival of this important update to the Ethereum network generated various opinions about its impact on this blockchain ecosystem, especially on the price of ether.
Shapella enabled the long-awaited withdrawals of validator ether, which had been locked in staking on the Beacon Chain since December 2020. Because of this, this is one of the updates that can have the most impact on the price of the cryptocurrency.
So far, validators have requested the withdrawal of more than 1,06 million ethers (about $2.217 billion dollars) and, although several analysts expected that the withdrawal of these ethers would affect the price of ETH, driving it down, the second most capitalized cryptocurrency in the market is experiencing a significant weekly gain in its price, touching highs from 11 months ago.
Source: Coinmarketcap
SEC Says Algorand and Dash Are Securities
📍Algorand and five other tokens qualify as securities with the SEC. The U.S. Securities and Exchange Commission, chaired by Gary Gensler, argues that ALGO, the native cryptocurrency of the Algorand scalability network, is a security under U.S. law.
In addition to Algorand, five other tokens, Dash (DASH), OMG (OMG), Monolith (TKN), Naga (NGC), and Real Estate Protocol (IHT), were also designated as securities by the same regulatory agency.
The SEC has filed a lawsuit against cryptocurrency company Bittrex, alleging that it offered cryptocurrency services in the United States without being properly regulated. The actions of the SEC and its chairman Gensler against the crypto industry have been heavily criticized, including by U.S. Representative Warren Davidson, who reported on the filing of a regulatory proposal that aims to remove Gensler from his position as SEC chairman.
According to Davidson, Gensler has committed a series of abuses against the crypto industry from his position as chairman of the financial regulatory agency. Recently, the SEC expressed its intention to regulate the decentralized finance (DeFi) ecosystem under federal securities laws.
The bill to be introduced by the U.S. representative seeks to replace the SEC chairman with that of an executive director, who must report to a board of directors on actions to be taken. Davidson clarified that former SEC chairmen would not be eligible, under the law, to serve as executive director.
Continue reading: Bitcoin has potential to continue growing, says Bank of America
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