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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, & NFTs- May Week 2 – Innovation & Tech Today

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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, & NFTs- May Week 2 – Innovation & Tech Today

Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that’ll be defining points for the future of blockchain, cryptocurrency, and NFTs.

With President Biden blocking a Chinese bitcoin mine, Wells Fargo announcing new investments in ETFs, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening! 

President Biden Blocks Chinese Bitcoin Mine

On May 14, President Joe Biden issued a directive prohibiting a Chinese-backed cryptocurrency mining company from possessing land adjacent to a nuclear missile base in Wyoming, citing concerns about national security.

The directive mandates the sale of property utilized as a cryptocurrency mining facility near the Francis E. Warren Air Force Base. MineOne Partners Ltd., a company partially supported by Chinese investors, and its subsidiaries are instructed to dismantle specific equipment on the premises.

This action coincides with the United States’ plans to impose significant new tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China.

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Wells Fargo Announces Investments in ETFs

According to a regulatory disclosure, Wells Fargo & Company (WFC) has revealed its involvement in cryptocurrencies by investing in several Bitcoin exchange-traded funds (ETFs). This move reflects a growing interest in digital assets within the financial sector.

The disclosure indicates that Wells Fargo has acquired shares of Grayscale’s GBTC Bitcoin ETF, providing the bank with approximately $141,817 worth of exposure to the digital currency. Additionally, Wells Fargo has made a smaller investment of less than $1,200 in the ProShares Bitcoin Strategy ETF (BITO). This ETF enables investors to gain exposure to Bitcoin futures contracts, allowing them to speculate on the future price movements of the cryptocurrency.

Wisconsin Buys Blackrock Spot Bitcoin ETF

According to a filing, the U.S. state of Wisconsin acquired 94,562 shares of BlackRock’s iShares Bitcoin Trust (IBIT) in the first quarter, valued at nearly $100 million.

Following this news, Bitcoin experienced a 1% increase, currently trading at $61,957. However, it saw a 1.7% decline over the past 24 hours, coinciding with the release of new inflation data exceeding expectations during U.S. morning hours.

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Wisconsin, which submitted its quarterly 13F report to the Securities and Exchange Commission (SEC) on Tuesday, becomes the first state to publicly disclose its bitcoin investment. Additionally, the state’s investment board bought shares of Grayscale’s Bitcoin Trust (GBTC) valued at approximately $64 million.

OKX Australia Launches

OKX, a cryptocurrency exchange, has launched its services in Australia, offering spot and derivatives trading options for local users.

This move follows OKX’s establishment of a Sydney office in May last year and marks the latest expansion into international markets, joining previous entries in countries like Turkey and Singapore.

OKX’s expansion into Australia reflects the growing interest in cryptocurrencies among Australians. Notably, the Australian Securities Exchange (ASX) is considering the potential introduction of Spot Bitcoin ETFs by the end of 2024.

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Top Beginner-Friendly Cryptocurrency Exchanges to Use in 2025

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Top Beginner-Friendly Cryptocurrency Exchanges to Use in 2025

The crypto space isn’t short on trading platforms—but most feel like clones, offering the same tired features with little innovation. That’s why a few standout exchanges are turning heads with faster onboarding, smarter interfaces, and actual value for traders who want more than just a place to swap tokens.

Whether it’s uncovering meme coin gems before they pump, accessing AI token markets with low fees, or earning passive rewards without jumping through hoops, these platforms are doing things differently—and they’re worth a closer look.

KCEX

KCEX stands out as a beginner-friendly and low-fee crypto exchange that is quickly gaining traction in the trading community. Known for its ease of use and wide range of trading pairs—including Bitcoin, Ethereum, meme coins, and AI-related tokens—KCEX provides a streamlined experience for both new and experienced traders.

One of its biggest strengths is its extremely low spot and futures trading fees, which can lead to significant savings over time. The platform also supports advanced trading strategies with leverage options that go up to 125x, allowing users to explore more aggressive positions if desired.

KCEX is a globally accessible, no-KYC exchange, making it quick and easy to join, and ideal for those who value privacy and efficiency.

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Source – Jacob Crypto Bury on YouTube

MEXC

MEXC is recognized as a highly user-friendly cryptocurrency exchange, making it an excellent choice for both beginners and experienced traders. It offers an intuitive interface with easy access to a wide range of features, including a vast number of trading pairs—possibly one of the highest among major exchanges.

This variety allows users to explore a broad selection of cryptocurrencies for trading. MEXC also frequently provides sign-up bonuses and exclusive rewards, such as USDT vouchers, which users can earn by completing simple actions like registering or making a deposit.

The platform supports straightforward fiat on-ramping through methods like bank transfer, Mastercard, and Visa, further enhancing its accessibility. Despite some regional restrictions, MEXC stands out for its high liquidity, robust security, and long-standing presence in the crypto space.

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Best Wallet

Best Wallet has quickly emerged as one of the most intriguing projects in the decentralized finance (DeFi) landscape, offering a sleek, functional, and user-friendly experience that caters to both novice and experienced crypto users.

Designed primarily for mobile, the wallet delivers the look and feel of a polished iOS product, combined with powerful features under the hood. What sets Best Wallet apart is its versatility—it’s a multi-wallet, multi-chain, non-custodial crypto wallet that supports over 60 blockchains.

This level of cross-chain functionality gives users the flexibility to manage a diverse portfolio with ease. Unlike traditional wallets that feel like static storage solutions, Best Wallet behaves more like a full-fledged exchange, enabling seamless swaps, deposits, and portfolio management directly within the app.

Beyond the basics, Best Wallet stands out with its commitment to user insights and early market opportunities. The wallet integrates crypto insights and updates that could help users stay ahead of emerging trends and potentially uncover early-stage alphas.

This intelligence-driven approach makes it more than just a place to store assets—it becomes a tool for smarter investing. The project also boasts a well-structured roadmap that is actively being implemented.

Its growing user base, already in the hundreds of thousands, signals strong traction and rising confidence within the crypto community. Importantly, the team appears highly engaged, especially on social platforms like X (formerly Twitter), where updates and announcements are frequent, further cementing its credibility.

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Best Wallet is not just another crypto wallet; it’s a full ecosystem designed for convenience, security, and opportunity. Users interested in combining DeFi tools with intuitive design and anonymous features may find it a powerful addition to their crypto toolkit—provided it’s supported in their region.

Bitunix

Bitunix is emerging as a strong contender in the global crypto derivatives exchange space. Known for its solid team and innovative offerings, the platform provides a competitive trading environment with good liquidity and relatively low fees—though not the lowest in the industry.

One of Bitunix’s standout features is its support for flexible and fixed-term APR options, particularly appealing for users interested in locking in stablecoins like Tether.

Another major benefit is its copy trading function, which allows users to replicate the strategies of experienced traders with proven track records, making it accessible even for beginners. The exchange also excels in fiat on-ramping, supporting popular payment methods such as Visa, Apple Pay, and Google Pay.

The user interface has a distinctly tech-forward aesthetic, although it may appear somewhat cluttered compared to other platforms like MEXC or KCEX. Still, Bitunix offers a robust and user-friendly experience that suits both novice and experienced traders.

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Crypto’s Shocking Transformation: How Bitcoin Volatility Plummeted From 400% To 80%

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Crypto’s Shocking Transformation: How Bitcoin Volatility Plummeted From 400% To 80%

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Bitcoin’s journey from digital experiment to mainstream investment has been marked by one defining characteristic: extreme price volatility. However, data from NYU Stern’s Volatility Lab reveals a remarkable transformation in how dramatically Bitcoin’s price swings, offering important lessons for today’s investors.

Between 2010 and 2017, Bitcoin experienced volatility that would make even the most seasoned traders nervous. During this period, annualized volatility frequently exceeded 200% and occasionally spiked above 400%. To put this in perspective, traditional stocks typically see volatility between 15-30% annually.

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This extreme volatility reflected Bitcoin’s status as an unproven digital asset with minimal institutional backing. Small trading volumes meant that even modest buy or sell orders could trigger massive price swings. News events, regulatory announcements, or technical developments could send prices soaring or crashing within hours.

The 2017 cryptocurrency bubble perfectly exemplified this era. Bitcoin’s price rocketed from under $1,000 to nearly $20,000 before crashing back down, creating the kind of volatility that attracted speculators while terrifying traditional investors.

Following the 2017-2018 market correction, something interesting began happening. Bitcoin’s volatility started declining meaningfully. Between 2018 and 2020, volatility generally ranged between 50% and 150% – still extreme by traditional standards, but a significant improvement from the earlier chaos.

This period coincided with several important developments: major companies began accepting Bitcoin payments, institutional investors started taking notice, and cryptocurrency exchanges became more sophisticated and regulated. These factors contributed to deeper liquidity and more stable price discovery.

Current data shows Bitcoin’s volatility has continued moderating, now typically ranging between 30%-80%. While this remains substantially higher than stocks or bonds, it represents a dramatic evolution from Bitcoin’s early days.

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Cryptocurrency Stocks To Follow Now

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Cryptocurrency Stocks To Follow Now
Robinhood Markets, Galaxy Digital, Bitdeer Technologies Group, HIVE Digital Technologies, ZenaTech, Cellebrite DI, and Bitcoin Depot are the seven Cryptocurrency stocks to watch today, according to MarketBeat’s stock screener tool. Cryptocurrency stocks are shares of publicly traded companies whose
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