Bybit has announced the launch of Bybit Lending, a cryptocurrency value-added product that offers users the opportunity to earn interest income on their idle cryptocurrencies.

▫️With Bybit Lending, users can deposit their unused cryptocurrencies into Asset Pools, which will be lent out to borrowers for hourly interest.

▫️Loaned assets are kept safe by Bybit's strict risk management system.

▫️Users are able to redeem your funds at any time, with successful redemptions credited immediately.

https://announcements.bybit.com/en-US/article/introducing-bybit-lending---earn-hourly-interest-on-your-idle-assets--blt11298ea2611c9ef9/

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U.S. President Joe Biden is seeking a 30% punitive tax on crypto mining operations because "they are a danger to society," the White House Council of Economic Advisers (CEA) said on Tuesday. But the Republican-controlled House is unlikely to support the tax that would punish this industry.

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Do you believe in "Sell in May and Go Away" thesis?

👍/👎
❤️: I don't care

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In the last week alone, 23,463 $ETH has been burnt as a result of increased network activity.

Thank you meme coins.

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SUI token distribution has started. Listing in 5h 50mins from now.

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Binance will list Sui (SUI) and open trading for SUI/BTC, SUI/USDT, SUI/TUSD, SUI/BNB, SUI/EUR and SUI/TRY trading pairs at 2023-05-03 12:15 UTC.

Users will enjoy zero maker fees on the SUI/TUSD trading pair until further notice.

https://www.binance.com/en/feed/post/483991

Seeing a lot of comparisons between the latest bank failures and 2008

However most are wrong because they don't account for inflation

Here's a page built by Defillama on all bank failures since 2000, their inflation-adjusted assets and a chart of the sum.

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Trading for SUI will start at 12:00 UTC, as opposed to the original time of 12:15 UTC.

https://twitter.com/binance/status/1653706678649466881

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FED RAISES RATES BY 25BPS TO 5-5.25%

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Trade volumes on CEXs declined in April after rising for three consecutive months and surpassing pre-FTX levels in March.

Overall, the crypto market remains significantly larger than it was before the 2020 bull run.

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Over $2B of volume was traded in spot markets today, with Binance taking the lions share and Bybit/OKX/Kucoin taking down the rest

If SUI was a publically traded stock, it would be the 20th in dollar volume

this is ahead of the likes of $JPM and $NFLX.

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TrueUSD (TUSD) denies its connection with Justin Sun.

https://twitter.com/tusdio/status/1653800358005841920

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Current situation:

1. Interest rates at their highest since 2006

2. Credit card debt set to cross $1 trillion for first time

3. Multiple regional banks on brink of collapse

4. Regulators believe is “system is strong”

5. One month away from US default

How can this end well?

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Binance publishes how they manage when there is surge in traffic:

Our capacity management is peak-driven and embedded in every service lifecycle stage, preventing overload with activities like measurement, setting up priority, alerting and capacity reports, etc. This ultimately is what makes Binance’s processes and needs unique compared to a typical capacity management situation.

The service benchmark obtained from load testing is the focal point of capacity management and planning. It accurately determines the infrastructure resource needed to support current and future business demands. This ultimately had to be performed in production with a unique, Binance-built solution that allowed us to meet our specific needs.

https://www.binance.com/en/blog/ecosystem/ensuring-reliability-and-scalability-at-binance-the-role-of-capacity-management-and-automatic-load-testing-4549014559756022085

Gemini and Coinbase now started offering Perps. Wow!

https://www.gemini.com/blog/gemini-foundation-a-non-us-derivatives-platform-is-now-live

https://www.theblock.co/post/229021/coinbase-launches-perps-exchange

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Binance Unleashes SUI Perpetual Contracts: Market Reels as SUI Price Plummets by 70%

https://www.cryptopolitan.com/binance-unleashes-sui-perpetual-contracts/

Did you short SUI?

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Due to the recent popularity of Ordinals Inscriptions and BRC-20 transactions, the network fee capture on the Bitcoin chain reached US$3.5 million on May 3, the highest since late May 2021, surpassing Uniswap (US$2.32 million) on the same day and second only to Ethereum ($17.23 million).

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Ever happened to you?

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