Coinbase reported solid Q1 earnings / Tor Project received 500 ETH in NFT sale / FTX.US hired their first president

Plus: MakerDAO's project annual revenue exceeded $200M

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The global crypto market cap is $2.04T 4.69%▲ with a 24-hour market volume of $257.81B 37.43%▲. Bitcoin's dominance is currently 39.99% 0.26%▼.  CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $43,562.43 4.29% ▼ 2 Ethereum ETH $3,361.96 3.30% ▼ 3 Binance Coin BNB $513.56 8.08% ▼ 4 Dogecoin DOGE $0.486 4.65% ▼ 5 Cardano ADA $2.03 4.36% ▼ *Prices as of 3:00 p.m. ET.

Coinbase reported solid Q1 earnings in its first earnings call since its direct listing. The company reached $335B in total trading volume, marking a 300% increase from last quarter. More: $120B in trading volume came from retail investors, while the other $215B was from institutional investments. Coinbase added 13 million verified users, bringing the total number of verified users on the exchange to 56 million CEO Brian Armstrong told listeners that Coinbase plans to accelerate its asset onboarding and hopes to have Dogecoin listed this summer.

The Tor Project sold an NFT depiction of the first Tor onion service for 500 ETH. PleasrDAO purchased the NFT this past Friday, providing over $1.5M to the nonprofit. More: Titled “Dreaming in Dusk,” the NFT depicts the private cryptographic key used to create the Dusk (duskgytldkxiuqc6.onion) service on the private-preserving Tor Browser. The Tor Project was created in 2006 and provides access to “.onion” domains, commonly known as dark web addresses. Now with ownership of the private key, PleasrDAO has control over the Dusk domain. However, Tor is retiring the version of the browser that supports these types of private cryptographic keys.

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▲ TOP GAINERS # Name Price 24h % 1 SHIBA INU SHIB $0.00001598 17.55% ▲ 2 Aave AAVE $554.66 12.77% ▲ 3 Polygon MATIC $1.68 11.11% ▲ 4 THETA THETA $9.97 7.46% ▲ 5 XRP XRP $1.52 7.03%▲ ▼ TOP LOSERS # Name Price 24h % 1 Monero XMR $348.07 10.85%▼ 2 Dash DASH $295.72 9.71%▼ 3 Internet Computer ICP $198.12 10.27%▼ 4 Waves WAVES $27.42 9.15%▼ 5 VeChain VET $0.1592 7.81%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:00 p.m. ET.

Crypto exchange FTX.US hired Brett Harrison, a former executive at Citadel Securities, to serve as the exchange’s first president. According to FTX.US CEO Sam Bankman-Fried, Harrison’s role is to “massively scale out” the platform. More: While at Citadel Securities, Harrison was the head of semi-systematic technology, where he was responsible for a team of over 100 engineers. The exchange launched just over a year ago and currently handles only around $185M in daily transaction volume. FTX.US joins Binance as the latest crypto exchange aimed to take away market share from dominant U.S. crypto exchanges Coinbase and Kraken.

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QUICK HITS Data from a recent survey reveals demand for on-prem software equals public cloud and 90% of ISVs report growth of on-prem sales. * Ethereum-based DeFi lending platform MakerDAO reached a total projected annual revenue above $200M. Paxos’ private, permissioned blockchain network will be used by BoA for same-day security settlements. Tether announced plans to launch USDT on Avalanche, bringing the stablecoin functionality on almost 10 total blockchains. Delphi Digital launched an on-chain fund, titled Delphi InfiNFT, offering a decentralized investing protocol for NFT projects. Black Eyed Peas member Apl.de.Ap announced the release of four NFTs on Portion.io containing some of the artist’s unreleased music.  The IRS has awarded crypto tax service provider TaxBit $1.001M for providing information and assistance in crypto tax collection. This fintech platform has returned over $150M in interest to investors across art, real estate, legal finance and more, and wants to give you up to a $500 bonus to get started. * *sponsored content

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Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Justin Anderson is an editor and writer who has worked with words for two decades. A graduate of Ryerson University’s Journalism program, he’s covered business, politics, entertainment, and almost everything in between. He lives in Toronto.

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