Dogcoin team has been working with Musk since 2019

Dogcoin developer Nickell said in an interview that they have been working with Musk since 2019 to make the cryptocurrency a cheaper and greener alternative to bitcoin. Dogcoin’s energy consumption is already estimated to be only 7% of Bitcoin’s.

Dogcoin team has been working with Musk since 2019


▌Dogcoin Developer: Has Been Working With Musk Since 2019

Dogcoin developers Nickell said in an interview that they have been working with Musk since 2019 to make the cryptocurrency a cheaper, greener alternative to bitcoin. Dogcoin’s energy consumption is already estimated to be only 7% of Bitcoin’s. Since Musk started talking to developers in 2019, he has “encouraged them to increase their transaction throughput,” provided “a lot of advice and input” and shared his vast network, Nichol said. The team is optimistic about Musk’s presence, who has kept in touch with the four development members since 2019. Musk had also offered to fund the development of Dogcoin, but the team politely declined, in addition to turning down offers from other potential investors.

Market Sentiment

As of press time, according to Huobi global data.

BTC recently traded at $50,033.47, up or down -2.30% intraday.

ETH recently traded at $4096.08, up or down -0.83% intraday

BCH recently traded at $1307.04, up or down -2.90% intraday.

BSV recently traded at $339.33, up or down -1.80% intraday.

EOS recently traded at $10.28, up or down -1.59% intraday.

LTC recently traded at $328.12, up or down -2.18% intraday.

DOT recently traded at $47.1869, up or down +6.44% intraday.


▌ Spanish regulator approves institutions to make cryptocurrency investments

Golden Finance reports that Spain’s market regulator announced that it will allow companies with operating funds to make cryptocurrency investments. However, the regulator has set some terms. First, crypto products are only allowed to be offered if the market price is determined by a third party that conducts the purchase and sale operations. In addition, fund managers are obliged to warn their clients that crypto assets are “high-risk investments” that “involve a high speculative element”. Such warnings should also be included in the fund’s prospectus and clearly stated in all marketing materials. Finally, institutional investors and fund operators would be prevented from investing in certain types of crypto derivatives and securities based on crypto assets, including crypto asset-based exchange-traded commodities (ETCs) or exchange-traded notes (ETNs).

▌Trader: Banks in India have started cracking down on cryptocurrencies

Golden Finance reports that while India has not officially banned cryptocurrencies, the country’s banks appear to be cracking down on cryptocurrencies and exchanges. Indian cryptocurrency traders are receiving notices from banks to close their accounts, and exchanges are finding problems with their bank transfers.

▌UK Financial Regulator Approves Digivault Registration as a Compliant Digital Asset Custodian

May 14 (Bloomberg) — The U.K.’s financial regulator has approved the registration of Digivault, the security-based token custodian arm of digital asset group Diginex, as a custodian wallet provider. digivault aims to provide compliant and secure custodian services for crypto asset companies and institutional investors.

▌City of Williston, North Dakota, U.S. Accepts Cryptocurrency Payments for Utility Bill Payments

May 14 (Bloomberg) — The city of Williston, North Dakota, has partnered with cryptocurrency payment company BitPay to add cryptocurrencies such as Bitcoin as a payment method for utility bills, such as utility bills. Williston Finance Director Hercules Cummings said the city will conduct a quality assessment to expand the new payment method for bills such as permits and landfills. The new payment methods are in line with the city’s commitment to explore additional payment methods to keep pace with existing payment methods and to enable contactless payments. “There are also many benefits to using these online payment methods, including security, convenience and cost savings.”

Blockchain Applications

▌ Ministry of Ecology and Environment Mission and Education Center and Yili International to jointly launch a blockchain-based “3060” green digital platform

On May 14, the Ministry of Ecology and Environment Publicity and Education Center and Yili International Investment (Treelion Project) held an online signing ceremony this afternoon, and the two sides reached a five-year cooperation plan. The reporter learned from Yili International that the two sides will jointly launch the “3060” system, relying on blockchain, big data, AI and other technologies to build a green lifestyle around various life scenarios such as clothing, food, housing, transportation and travel, so that everyone can easily participate in pollution reduction and carbon reduction, with the aim of achieving universal participation in low-carbon life through standardized and digitalized forms. The aim is to achieve low-carbon life through standardization and digitalization, and help achieve the goal of carbon peak by 2030 and carbon neutrality by 2060.


▌Tweet CEO: Bitcoin Makes “Everything” Better

Twitter CEO Jack Dorsey tweeted that Bitcoin has changed “everything” for the better, Golden Finance reports. We will always strive to make bitcoin better.

▌ Kusama Has Officially Launched Parallel Chain Auction Function

According to official sources, Kusama, the Poca first network, has officially launched its parallel chain auction feature. As previously reported, the Polka Test Network Kusama parallel chain announced that it has passed the v0.9.1 upgrade, which upgrades the code related to parallel chain, auction and crowdfunding.

▌ Upstate New York Miner Greenidge to Offset Bitcoin Miner’s Carbon Emissions

Golden Finance reports that Greenidge Generation’s natural gas-powered bitcoin mining operation has sparked controversy in upstate New York, so the company plans to offset emissions from those miners by purchasing carbon offset credits starting June 1. The power plant operator said it will invest in “projects that reduce greenhouse gas emissions” to offset 100 percent of the carbon footprint of its miners. The company also plans to invest some of its mining profits in renewable energy projects in New York, according to Friday’s statement.

▌Number of profitable ethereum addresses reaches all-time high

Golden Finance reports that glassnode data shows that the number of profitable Ether addresses (7-day moving average) just reached a new all-time high of 58,590,298.167.

▌Dapper Labs Sued for Allegedly Selling NFTs as Unregistered Securities

NBA Top Shot developer Dapper Labs has been sued for allegedly selling the NFT as an unregistered security. According to documents filed in New York Supreme Court on May 12, the allegations are based on the “personal knowledge” of lead plaintiff Jeeun Friel. The documents allege that the “NBA Best Shot Moments” are securities because their value increased with the success of the project. The plaintiffs allege that Dapper Labs should therefore have registered with the SEC, but Dapper Labs failed to do so. The company also allegedly used its control over NBA Top Shot to prevent investors from withdrawing funds “for months” to ensure that the funds remained on the platform to “bolster” its value. The subpoena. NBA Top Shot is said to be a blockchain-based digital collectibles platform that allows users to buy, sell and trade video clips in the form of NFTs. Its demand is surging in 2021, and Dapper was valued at $7.5 billion in an April funding round.

Key Economic Trends

▌ Global debt falls for the first time in two and a half years: debt growth quietly diverging

The International Institute of Finance (IIF) released the latest data on the evening of May 13, showing that total global debt fell by $1.7 trillion to $289 trillion by the end of the first quarter of this year compared with the fourth quarter of last year, the first decline in the past two and a half years. The scale of debt in developed countries has declined, but the debt level of emerging market countries still grew by about $600 billion in the first quarter of this year, reaching a record high of more than $86 trillion.

▌Former U.S. President Barack Obama may have begun to focus on the blockchain sector

Twitter shows: former US President Barack Obama followed Bitcoin Classic co-founder Carlo, who is suspected to be the first blockchain project founder Obama followed, which may mean that former US President Obama has started to pay attention to the blockchain field, Bitcoin Classic was born from a fork of the original Bitcoin chain at a block height of 630,000, and was developed continuously based on Bitcoin’s original features and improved transaction speed, aiming to build a global peer-to-peer electronic cash system.

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