The underperformance stems from hidden costs of rolling futures contracts every month as they expire called the “contango bleed,” exacerbated by this year’s rebound in BTC price. Source: https://www.coindesk.com/markets/2023/05/30/proshares-bitcoin-futures-etf-increasingly-underperforms-btc-this-year-k33-research/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The startup offers on- and off-ramps that could make it easier for new users to interact with Web3 projects. Source: https://www.coindesk.com/web3/2023/05/30/web3-payments-firm-transak-raises-20m/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The exchange halted Australian dollar bank transfers early May. Source: https://www.coindesk.com/markets/2023/05/30/bitcoin-trades-at-a-20-discount-on-binance-australia-following-banking-issues-in-the-country/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The new token standard allows traders to burn their ERC-721 NFTs and transfer them to Ordinals on the Bitcoin network. Source: https://www.coindesk.com/web3/2023/05/30/brc-721e-token-standard-bridges-ethereum-nfts-to-bitcoin-ordinals/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Titled “Maschine,” the generative art collection was created by Dutch artist Harm van den Dorpel and draws inspiration from automotive concepts. Source: https://www.coindesk.com/web3/2023/05/30/mercedes-benz-web3-arm-to-release-nft-collection-with-digital-art-community-fingerprints-dao/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Layer 1 blockchain Canto has experienced a 35% slump in total value locked (TVL) over the past month as liquidity continues to dry up across the decentralized finance (DeFi) …

Tether announced this month to invest a part of its net realized profits in BTC purchases and infrastructure. Source: https://www.coindesk.com/business/2023/05/30/stablecoin-issuer-tether-invests-in-sustainable-bitcoin-mining-in-uruguay/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The difficulty of mining bitcoin is poised to set a new all-time high this week as miners continue to deploy new mining machines to cash in on recent spike …

The company is only allowing crypto and transfers to platforms that comply with Coinbase-led Travel Rule Universal Solution Technology (TRUST). Source: https://www.coindesk.com/policy/2023/05/30/crypto-exchange-bitflyer-aligns-itself-with-fatf-travel-rule-with-new-restrictions/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

RNDR has been a good high beta Nasdaq play in recent weeks, one portfolio manager noted. Source: https://www.coindesk.com/markets/2023/05/30/render-networks-rndr-token-tracks-tech-stocks-as-broader-crypto-market-decouples/?utm_medium=referral&utm_source=rss&utm_campaign=headlines