US inflation falls to 4.9%, lower than expectations.

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Ethereum may experience serious pressure on the price in the near future:

The largest staker of ETH coins, Lido Finance, announced the release of an update on May 15, in which the withdrawal of coins from staking pools will become available. The developers claim that the withdrawal will take up to 3 days, and the initial available withdrawal amount from the pool will be about 270,000 ETH ( ~500,000,000$ ).

Also, we recall that in total, more than 6 million ETH are stored in Lido, with a total value of about $12 billion.

Will $0.5 billion shake the price of ETH? We'll find out after May 15.

https://twitter.com/LidoFinance/status/1655656843501355009

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Today #tether announces its Q1 2023 Assurance Report (attestation) 👀

- Net profit for this quarter of $1.48bn leading to a surplus over reserves of $2.44B- an all time high!! 🤯

- This report adds new explicit separate categories for our #Bitcoin  and Gold 🪙 holdings, representing 2% and 4% of our total reserves respectively.

- We have reduced secured loans from 8.7% to 6.5% of reserves. A 25% reduction! We shall continue to 0 as promised.

- Q1/2023 shows direct US T-bill holdings of over $53bn (another all time high for Tether) representing more than 64% of total reserves.

- A massive reduction in bank deposits, lowering our unsecured counterparty exposure.

- All new issuance of tokens in Q1/2023 was invested in US t-bills or placed in overnight reverse repo facilities (fully collateralised by US treasuries). With $7.5bn now directly invested in overnight reverse repo, our reserves continue to be not only extremely high quality but also highly liquid.

To give you a comparison: Blackrock Q1 net income: $1.16 billion

https://twitter.com/paoloardoino/status/1656301275645108224

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UAE’s Royal Group Shorts US Stocks on Global Recession Fears

Royal Group has built short position worth billions of dollars

Firm helps manage one of the world’s biggest family fortunes

https://www.bloomberg.com/news/articles/2023-05-10/uae-s-royal-group-shorts-us-stocks-on-global-recession-fears

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RUMORS: US govt bitcoin wallets on the move.

https://blockstream.info/tx/0d3873d4a9e5b31156605143f27b84a503d69f70df46b31576bc26f7a6c947ae

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New York introduces bill to accept stablecoins as a form of payment for bail.

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What do you think happens first?

👍 BTC to $30k
👎 BTC to $26k

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Robinhood reported cryptocurrency trading revenues declined 30% during the first quarter of this year to $38 million.

During the same quarter in 2022, the company reported trading revenues of $54 million.

Robinhood also reported that its crypto assets "under custody" dipped by 42% year-on-year to $12 billion.

https://www.theblock.co/post/230330/robinhood-reports-steep-30-decline-in-crypto-trading-revenues-year-on-year

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Binance Will Reduce the Processing Time for ETH Staking Withdrawals.

Following feedback from the community, Binance will reduce the processing time for ETH Staking withdrawal requests to five days, effective from 2023-05-18 08:00 (UTC). This is a large decrease from the initial processing time required (i.e., 15 days).

https://www.binance.com/en/support/announcement/binance-will-reduce-the-processing-time-for-eth-staking-withdrawals-98539cbc6e794dbebccac64004aaf59c

April PPI inflation, the Fed's "preferred inflation gauge," falls to 2.3%, below expectations of 2.4%.

Core PPI fell to 3.2% which was also below expectations of 3.3%.

There seems to be more data suggesting that a "Fed pivot" is on the horizon.

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A meme token whose handle is followed by CZ suddenly wakes up and sees massive activity.

Is there something that we don't know and 'they' know?

https://dropstab.com/coins/green-shiba-inu

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This decline suggests that approximately 266,000 bitcoins, acquired between November and January, have been sold from the 1st of May until now.

https://cryptoquant.com/insights/quicktake/645c024dbbe24f02e5f81973-Can-you-provide-a-more-concise-explanation-for-the-decline-in-Bitcoins-price-fro

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U.S. Chamber of Commerce files brief calling out the SEC for refusing to answer which digital assets are securities, saying its actions are "unlawful."

"THE SEC’S DELAY IS CAUSING GREAT ECONOMIC HARM."

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Elon Musk has hired a new CEO of Twitter, who will take over in six weeks.

https://twitter.com/elonmusk/status/1656748197308674048

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Santiment: “The percentage of ETH on exchanges is at its lowest (10.1%) since public trading began in 2015”.

https://twitter.com/santimentfeed/status/1656748605787766784

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29k BTC options are about to expire with a Put Call Ratio of 0.63, a max pain point of $28,000 and a notional value of $770 million.
181k ETH options are about to expire, with a Put Call Ratio of 0.81, a max pain point of $1,900 and a notional value of $320 million.

https://twitter.com/GreeksLive/status/1656828014746042368

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The Lisk Foundation is exchanging 1000 BTC into ETH over the next 10 weeks and will hold onto them as part of its long-term treasury.

https://twitter.com/maxkordek/status/1656629386689363970

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LG patented a TV that will allow users to trade NFTs.

https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2023080273

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New Twitter CEO Linda Yaccarino is following Shiba Inu on the platform.

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Binance announced that it will proactively withdraw from the Canadian marketplace, because the new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time. Canada is the home country of CZ.

https://twitter.com/binance/status/1657099651210969088

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