This Week's ⚡️ Quick Bits & 🎥 Quick Media Digest (#80)

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Greetings Bitcoiner,

Welcome to issue #80 of the Bitcoin Breakdown, where we are still celebrating the 14th anniversary of Bitcoin Pizza Day.

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⚡️ QUICK BITS

  • US House of Representatives pass the Financial Innovation and Technology for the 21st Century Act (FIT21) with a 279-136 vote, including support from 71 pro-crypto Democrats.

  • SEC Chair Gary Gensler criticizes FIT21, arguing it would create regulatory gaps and reduce the oversight of crypto assets as securities.

  • Standard Chartered says BTC will hit an ATH by this weekend.

  • Japan’s MicroStrategy Metaplanet is up 7x outperforming every other company on the Japanese stock market.

  • UK's Financial Conduct Authority approves listing of their first Bitcoin exchange-traded products on the London Stock Exchange.

  • 25 of the largest US hedge funds now have exposure to bitcoin ETFs.

  • Paraguay proposes severe penalties and equipment seizures to combat unauthorized bitcoin mining in the country.

  • High Court of London rejects Craig Wright's fraudulent claims of being Bitcoin creator Satoshi Nakamoto, finding him guilty of deception and forgery and freezing $7.6M of his assets.

  • Venezuela cracks down on bitcoin mining, with thousands of ASIC miners seized and farms disconnected from the grid.

  • Rep. Thomas Massie introduces the Federal Reserve Board Abolition Act to end the Fed.

  • Dormant Bitcoin wallet awakes for the first time since 2013, moving $7.6M in BTC.

  • Antpool mines seven consecutive blocks, sparking concerns about network centralization and security.

  • BTC worth $1B transferred with only $7.30 in transaction fees.

  • 10 US Spot Bitcoin ETFs absorb 548,556 BTC Worth $36B in 128 days.

  • IBEX Pay leaves the American market.

  • Bitcoin whale trader turns bullish, stacks $175M BTC in May.

  • Donald Trump now officially accepts Bitcoin for campaign donations.

  • Bitcoin whales accumulate $16.8B worth of BTC since SEC approval of Bitcoin ETFs.

  • TBD, a part of Jack Dorsey’s Block Inc. partners with Chipper Cash, one of the largest financial technology firms in Africa to accelerate its global cross-border payments.

  • Cornell's Brooks School Tech Policy Institute (BTPI) launches a $1M project to research the relationship between Bitcoin and financial freedom across multiple countries.

  • ‘Massive’ solo miner wins $200k bitcoin rewards with 0.5 EH/s.

  • Bitnomial and Luxor launch Hashrate Futures for crypto industrial participants to hedge in their native digital assets.

  • China police burst a large underground banking gang accused of facilitating illegal transactions with almost $2B worth of tether (USDT).

  • Bitlayer secures investment from OKX Ventures to transform Bitcoin scaling with perpetual decentralized exchange.

  • Bitcoin set new all-time highs in local currencies in Japan, Argentina, and the Philippines.

  • Brazil's central bank plans to finalize a regulatory framework for cryptocurrencies by the end of the year, aiming to roll out regulations in phases to provide clarity for digital asset creators and service providers.

  • Martin Gruenberg, the anti-crypto Federal Deposit Insurance Corporation (FDIC) chair, steps down.

  • Study shows Microgrids (MGs) using Bitcoin mining drastically reduce renewable energy waste, lower MG costs by 46%, accelerate MG development and decarbonize power production.

  • Bitcoin Pizza Day marks 14 years.

  • Ajit Singh a $5.1B pension fund CIO, joins the Proof of Workforce Foundation's mission of promoting Bitcoin adoption to workforce organizations.

  • Bitcoin developers tout 'programmability' as the catalyst for the next Bitcoin rally.

  • UK PM Sunak supports facial recognition and indirectly approves widespread bank monitoring.

  • Visa launches proprietary technology that allows it to give retailers even more data collected from its customers.

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AFFILIATES & REFERRALS

  • The Bitcoin Way enables you to master Bitcoin self-custody and gain peace of mind.

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  • Start9 empowers you to run your own Bitcoin node while also joining the sovereign computing paradigm, where concerns over privacy, censorship, hacks, and fees practically disappear—get a 5% discount by using the code: BITCOINBREAKDOWN.

  • Blockstream Jade is the best hardware wallet for you to take self-custody with—enjoy a 10% discount off of with code: BITCOINBREAKDOWN.

  • Orange Pill App enables you to connect with Bitcoiners and Bitcoin merchants wherever you live and travel.

  • BITCOIN WELL is the fastest and easiest way to secure Bitcoin in self custody, offering non-KYC sells and bill payments with a transparent 1% spread, no hidden or withdrawal fees.

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🎥 QUICK MEDIA

  • Swan Bitcoin shares a video of Michael Saylor elaborately explaining Bitcoin layers and how they relate to each other, focusing on the Lightning Network (May 20 | 2:42 min watch).

  • Blockstream posts a video discussing atomic swaps on the Liquid Network and why they are a superior way to transact peer-to-peer (May 21 | 3:40 min watch).

  • Ioni Appelberg posts a video exploring personal transformation and the impact of technology on society, while highlighting the potential for Bitcoin and similar technologies to challenge traditional systems in favor of personal freedom and autonomy systems (May 21 | 6:43 min watch).

  • Matthew Kratter from Bitcoin University explains the Liquid Network while detailing the role of Liquid Federation members and the distinction between the Liquid Network and the Lightning Network (May 20 | 7:44 min watch).

  • Joe Nakamoto posts a vlog of his journey to the Portuguese island of Madeira to take a challenging Bitcoin exam, exploring people's perceptions of Bitcoin and fiat currency (May 21 | 8:01 min watch).

  • BTCPay Server releases documentary film ‘My Trust in You Is Broken’ which tells the origin story of BTCPay Server as a reaction against BitPay's direction in the Bitcoin Block Size Wars (May 23 | 42 min watch).

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💥 MEME BREAK

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Naiw

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