Riding The Wave News Summary 140
Ether Erases All Gains From Shanghai Rally as Bitcoin, Other Crypto Prices Also Fall, Biden’s comms director barred from former crypto clients: Report, & ,more
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Table of Contents
Tweets
Ether Erases All Gains From Shanghai Rally as Bitcoin, Other Crypto Prices Also Fall
Biden’s comms director barred from former crypto clients: Report
Ethereum’s Shanghai Upgrade Spurs Institutional Investment Into Staking
Bitcoin price holding $27K could open buying opportunities in BNB, ADA, XMR and TON
Tweets
https://twitter.com/KobeissiLetter/status/1650218606699900931
https://twitter.com/therationalroot/status/1650155193038934017
https://twitter.com/100trillionUSD/status/1650074765132980227
https://twitter.com/WhaleChart/status/1650067157554810880
https://twitter.com/BTC_Archive/status/1650094096743014403
https://twitter.com/WatcherGuru/status/1650062892572499968
https://twitter.com/WhaleChart/status/1649779449213100032
https://twitter.com/WhaleChart/status/1649817770488479746
https://twitter.com/WatcherGuru/status/1649761600386088965
https://twitter.com/AshKernen/status/1649577699592093696
Ether Erases All Gains From Shanghai Rally as Bitcoin, Other Crypto Prices Also Fall
Ether (ETH) dropped to as low as $1,833 Friday afternoon, its lowest price since April 9, CoinDesk data shows.
The second-largest cryptocurrency by market capitalization has now erased all price gains of its recent rally following the seamless implementation last week of the highly anticipated Shanghai upgrade.
The April 12 hard fork, the last major step in the transformation of the Ethereum blockchain from a proof-of-work to more energy-efficient proof-of-stake protocol, enabled withdrawals of some $35 billion worth of tokens locked in staking contracts. ETH began spiking a day after the event and surged to its highest level in 11 months. It had been lingering below $2,000 for most of the past year.
ETH’s steady decline since Tuesday has come amid a wider price slump. Bitcoin was recently trading as low as about $27,200, down more than 3% over the past 24 hours and has tumbled more than 10% from a high Tuesday comfortably above $30,000.
Biden’s comms director barred from former crypto clients: Report
United States President Joe Biden will reportedly ban his communications director from handling matters related to any crypto or technology firms he has previously worked with, while still allowing him to advise on crypto regulation.
According to an April 21 Bloomberg Law report, White House Communications Director Ben LaBolt will be barred from “participating in legal matters, investigations, or contracts involving cryptocurrency or technology firms he previously represented.”
Decentralized exchange Uniswap and venture capital firm Andressen Horowitz — an early investor in Coinbase — were both former clients of Bully Pulpit Interactive (BPI), where LaBolt was previously a partner, according to a public financial disclosure report published on April 21.
Despite the restrictions expected to be put in place, it was reported that LaBolt would be allowed to advise on the president’s approach to regulating cryptocurrency and social media companies.
Ethereum’s Shanghai Upgrade Spurs Institutional Investment Into Staking
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