Discussions about environment heated up / Crypto searches reached an ATH / FTX expected to raise $1B

Plus: The SEC was granted a motion to compel overseas partners to comment on the Ripple lawsuit.

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The global crypto market cap is $1.62T 6.67%▼ with a 24-hour market volume of $209.97B 28.58%▼. Bitcoin's dominance is currently 43.20% 0.83%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $36,918.28 6.22% ▼ 2 Ethereum ETH $2,457.78 9.29% ▼ 3 Binance Coin BNB $329.52 13.10% ▼ 4 Cardano ADA $1.54 12.07%▼ 5 XRP XRP $1.02 11.67% ▼ *Prices as of 1:45 p.m. ET.

Companies have begun addressing the potential environmental impact of crypto. Environmental concerns intensified after Elon Musk announced that Tesla would no longer be accepting bitcoin. More: Bitcoin exchange BitMEX announced that it would take steps to offset its carbon emissions by donating at least $0.0026 for every $1 of fees paid on the platform. FTX has also committed to donating $0.0026 for every $1 paid in blockchain or gas fees in order to become carbon neutral. Ethereum co-founder Vitalik Buterin stated that he believes bitcoin's environmental impact could lead to ethereum overtaking bitcoin in the future.

Weekly search volume related to crypto on Google reached an all-time high both in the U.S. and internationally. Google Trends reported peak volume from May 9-15, suggesting a heightened interest in the broader crypto market. More: Searches for “Ethereum” also reached an all-time high at the same time. “Should I sell my crypto” rose 400% in the U.S. yesterday. Following Tesla’s decision to no longer accept Bitcoin, “environmentally friendly cryptocurrency” became an emerging trend on Google.

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▲ TOP GAINERS # Name Price 24h % 1 Horizen ZEN $99.34 22.84% ▲ 2 Helium HNT $15.11 19.68% ▲ 3 Monero XMR $284.07 12.26% ▲ 4 Synthetix SNX $7.30 7.30% ▲ 5 Stacks STX $1.01 7.30%▲ ▼ TOP LOSERS # Name Price 24h % 1 OKB OKB $15.78 20.40%▼ 2 Huobi Token HT $18.30 19.17%▼ 3 SHIBA INU SHIB $0.000008043 18.59%▼ 4 Solana SOL $39.12 18.39%▼ 5 THORChain RUNE $11.02 18.14%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 1:45 p.m. ET.

What will be the price of BTC in Monday's Inside Crypto? < $30K $30K - $40K > $40K

Crypto exchange FTX is expected to raise $1B in its latest funding round. The exchange is currently closing a funding round at an anticipated $20B valuation. More:  The exchange has yet to confirm a valuation officially. However, sources stated that previously speculated $3.5B valuation was a massive underestimate.  FTX is expected to use the funds to further its relations with financial service companies and expand beyond the traditional crypto participants  FTX recently bought the naming rights to the Miami Heat’s stadium for $135M. It is the first crypto company to reach this type of deal.

QUICK HITS Modern software delivery and management in any environment, air gapped, cloud, VPC, bare metal. See for yourself with a 21-day free trial.* The Financial Services Minister of Australia said the Australian government “will not stand in the way” of crypto and plans to allow crypto to grow as an asset class. Bitcoin fell 12% after China’s financial committee announced that it would monitor bitcoin mining in an attempt to “resolutely prevent and control financial risks.” Privacy-focused cryptocurrency Monero (XMR) rose 32% in the past 24 hours following the U.S. Treasury’s announcement that crypto transfers above $10K will need to be reported to the IRS starting in 2023. Toronto Stock Exchange-listed iMining announced that it would add Cardano (ADA) to its list of supported staking services. SEC Chairman Gary Gensler told the FINRA Annual Conference that the SEC “should be ready to bring cases involving issues such as crypto.” SEC v. Ripple update: The SEC was granted a motion to compel overseas partners to comment on the Ripple lawsuit. 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.* *This is 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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