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The semiconductor giant plans to accelerate its AI chip production cycle following a bumper revenue report driven by AI data centers.

Semiconductor giant Nvidia has no plans to slow its artificial intelligence ambitions following bumper quarterly revenues, netting the firm a record $26 billion for the first quarter.

On May 22, Nvidia released its Q1 earnings report. Revenue jumped 18% from the fourth quarter last year and surged 262% from a year ago, beating analyst estimates of $24.6 billion.

The earnings saw NVDA stock prices surge to an all-time high in after-hours trading on May 22 of just over $1,000, pushing its market capitalization to over $2.5 trillion.

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A return to the $73,000 price range for BTC will likely be met with short-term holder resistance but could also mark a turning point for the asset.

A potential return of Bitcoin (BTC) to $73,000 could mark the beginning of the asset’s acceleration to “escape velocity,” according to a crypto analyst. 

Escape velocity is a term used in astrophysics to describe the minimum speed needed for an object to escape from the gravitational field of a celestial body, like a planet or moon, without further propulsion.

Crypto analyst James Check used the term in a May 21 market report to describe what Bitcoin could do once it retakes the $73,000 price point.

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The crypto-regulating bill is headed to a cloudy future in the Senate with no companion bill and faces one of the country’s most prominent crypto critics.

A bill clarifying the United States securities and commodities regulator’s roles in policing crypto is headed to an unknown future as it makes its way to the Senate before hitting U.S. President Joe Biden’s desk.

The Republican-led Financial Innovation and Technology for the 21st Century Act (FIT21), or H.R. 4763, passed the House on May 22 with 71 Democrats and 208 Republicans in favor and 136 against.

Its future in the Senate is unclear with no companion bill and going up against one of the country’s biggest crypto critics, Elizabeth Warren. The same Senate passed a resolution last week calling to kill a rule restricting banks and crypto firms from doing business, however.

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Trading in Metaplanet’s stock was halted for two straight days under Tokyo Stock Exchange rules as its shares rocketed over the last week.

Metaplanet, a Japan-based investment firm borrowing from MicroStrategy’s Bitcoin (BTC) playbook, has seen its shares rocket 158% over the last week — becoming the highest gainer among all Japanese stocks.

Metaplanet’s share price is currently 93 Japanese yen, rising 127% in the last two days. The surge caused the Tokyo Stock Exchange to activate a circuit breaker trading halt at least twice in the last week.

It is now close to breaching a $1 billion market cap ($940 million or 14.8 billion Japanese yen at current prices).

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Bitcoin Pizza Day, celebrated on May 22, marks the first commercial transaction using cryptocurrency. Learn about its history and how it’s being celebrated in 2021.

The post Fourteen years ago, someone bought pizza with Bitcoin appeared first on Crypto Briefing.

A top crypto trader thinks a spot Ethereum (ETH) exchange-traded fund (ETF) approval in the United States could send altcoins “to the stratosphere.” The pseudonymous analyst known as the Flow Horse tells his 216,300 followers on the social media platform X that a spot ETH ETF would make the crypto markets “get crazier.” “Here I […]

The post Top Trader Says Ethereum ETF Could Send Altcoins to the Stratosphere – Here’s His Top Pick appeared first on The Daily Hodl.

Key Ethereum price metrics suggest that ETH’s pause at $3,800 is temporary.

Increasing expectations of spot Ethereum ETFs being approved in the United States caused the price of Ether (ETH) to jump over 26% over the last two days to trade at highs not seen since March 15.

Since hitting $3,800, ETH price has pulled back slightly, but the possibility of a spot Ethereum ETF approval and fundamental factors and on-chain metrics suggest that the altcoins uptrend remains intact.

One factor supporting Ether’s upside is increasing open long ETH positions in the futures market. Data from on-chain market intelligence firm CryptoQuant shows Ethereum’s total open interest in the derivatives market increased from 2.8 to 3.2 million ETH in a few hours on May 20 after rumors emerged that the United States Securities and Exchange Commission (SEC) was making a U-turn on the approval of spot Ethereum ETFs. This is the highest open interest since January 2023.

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The US House of Representatives has approved the Financial Innovation and Technology for the 21st Century Act (FIT21), a wide-reaching crypto regulation bill, with significant bipartisan support despite opposition from the White House and SEC.

The post US House passes landmark FIT21 crypto bill with bipartisan support appeared first on Crypto Briefing.

The White House has signalled it won’t veto the passage of the FIT21 bill despite U.S. Securities and Exchange Commission Chair Gary Gensler advocating against it. In a new press release, the White House says it does not support HR 4763, also known as the Financial Innovation and Technology for the 21st Century Act (FIT21), […]

The post White House Won’t Veto Passage of FIT21 Despite Opposition From SEC Chair Gary Gensler appeared first on The Daily Hodl.

Democratic and Republican lawmakers in the U.S. House of Representatives voted to pass the Financial Innovation and Technology for the 21st Century Act.

A majority of United States House of Representatives members voted in favor of legislation to establish regulatory clarity over digital assets.

In a 279 to 136 vote on May 22, House lawmakers approved H.R.4763, or the Financial Innovation and Technology for the 21st Century (FIT21) Act. If passed by the Senate and signed into law, the bill clarifies the roles the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have over digital assets. 71 Democrats joined with 208 Republicans to vote in favor of the bill.

“Unfortunately, our current regulatory framework is preventing digital assets’ innovation from reaching its full potential,” said Representative Patrick McHenry before the House vote. “The SEC and the CFTC are currently in a food fight for control of these asset classes.”

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With the SEC expected to decide by May 23 whether to approve or disapprove a spot Ether exchange-traded fund, three asset managers amended their 19b-4 filings.

Three additional United States-based asset managers with spot Ether (ETH) exchange-traded fund applications in the pipeline have amended their 19b-4 filings with the Securities and Exchange Commission (SEC).

In a May 22 filing from the Nasdaq Stock Market, asset management firm BlackRock amended its spot Ether ETF 19b-4 application to remove provisions for staking. Grayscale and Bitwise filed similar amendments with the New York Stock Exchange Arca. Having the SEC approve the 19b-4 filings would be a step toward greenlighting the listing and trading of spot Ether ETFs on exchanges.

“Neither the Trust, nor the Sponsor, nor the Ether Custodian […] nor any other person associated with the Trust will, directly or indirectly, engage in action where any portion of the Trust’s ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings,” said the amended BlackRock filing.

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Ethereum co-founder Joseph Lubin expects several 19b-4 Ether ETF applications to get the green light but anticipates a long wait before they go public.

According to Consensys CEO Joseph Lubin, early-stage applications to launch Ethereum exchange-traded funds (ETFs) in the United States are “as good as done.”

Speaking exclusively to Cointelegraph at DappCon in Berlin, Lubin said several 19b-4 applications filed by firms like BlackRock will be approved by the U.S. Securities and Exchange Commission (SEC). However, their launch to the public could be a more protracted process.

“These 19- b4’s from the exchanges, I think that’s as good as done,” Lubin said. 

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ETH price gained 25% off mere rumors, but Ethereum derivatives data suggests that Ether could see even more upside.

Ether (ETH) price surged 25% between May 20 and May 21, reaching a nine-week high of $3,840. However, the altcoin encountered resistance, despite growing confidence in the approval of a U.S. spot Ether exchange-traded fund (ETF) by the May 23 deadline. This is when regulators will decide on the application from asset manager VanEck. Traders are now pondering if the stabilization around $3,750 suggests that the Ether ETF approval is already factored into the price.

Analysts have increased their approval expectations after the U.S. Securities and Exchange Commission (SEC) reportedly reached out to the NYSE and Nasdaq to update their 19b-4 filings for the proposed spot Ether ETFs. Crypto lawyer Jake Chervinsky pointed out that this sudden interest from the regulator likely stems from political motives, as U.S. President Joe Biden may wish to appeal to cryptocurrency supporters.

However, there is still no official word from the SEC, which plans to vote on the issue with a panel of five commissioners. Two of them are notably pro-crypto: Hester Peirce and Mark Uyeda. On the other hand, Caroline Crenshaw is known as the SEC’s most vocal critic of the cryptocurrency sector, especially for its inadequate regulation and the risks of fraud and manipulation.

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Prometheum’s willingness to play along with the SEC’s ambitions for crypto regulation has stirred disapproval in many quarters.

Members of the United States Congress want to know what the Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA) were talking about when the SEC established Special Purpose Broker-Dealer (SPBD) requirements. They suspect the organizations and crypto trading and custody services provider Prometheum are setting an unwelcome precedent.

Chairman of the House Financial Services Committee Patrick McHenry and subcommittee heads Bill Huizenga and French Hill, all Republicans, stated in a letter to SEC Chair Gary Gensler that they were dissatisfied with the SEC’s response to a March 26 inquiry by 48 members of the House Financial Services and Agriculture Committees concerning Ether’s (ETH) classification as a security, rather than a commodity, and Prometheum’s intent (since realized) as an SPBD to custody ETH.

Related: US lawmakers allege CCP connection in calling for SEC, DOJ investigation of Prometheum

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The US has added well over half a trillion dollars to its national debt since the start of 2024 as the CEO of the world’s largest bank issues a warning on the state of America’s balance sheet. According to new data from the Treasury, as of May 14th, the US national debt grew by $582.381 […]

The post $582,381,000,000 Added To US National Debt Since January As JPMorgan Chase CEO Issues Warning on America’s Fiscal Future appeared first on The Daily Hodl.

Artificial intelligence (AI) related cryptocurrencies have posted notable gains, outperforming the broader digital asset market as investors receive Nvidia’s quarterly earnings report, following strong results from other tech companies.

The post Nvidia reports $26 billion Q1 revenue, AI crypto tokens show correlative gains appeared first on Crypto Briefing.

A widely followed analyst believes that the crypto market is on the verge of witnessing the next leg of its bull cycle. Pseudonymous analyst Kaleo tells his 639,700 followers on the social media platform X that the real bull market has not even started yet. The crypto strategist says that Bitcoin (BTC) is currently in […]

The post Analyst Unveils Bitcoin and Ethereum Price Targets, Says Incoming Altcoin Opportunities Will Be ‘Insane’ appeared first on The Daily Hodl.

A closely followed analyst says that altcoins are likely about to spark new rallies while Bitcoin (BTC) decides its next move. Pseudonymous trader Rekt Capital tells his 470,000 followers on the social media platform X that altcoins are at the beginning of the “hype cycle” phase where they find bottoms before making new impulses to […]

The post Crypto Analyst Says It’s Time for Altcoins to Rally, Predicts New Bitcoin Breakout Amid Bullish Technical Setup appeared first on The Daily Hodl.

MetaMask may introduce Bitcoin support as early as June, enhancing user experience for over 30 million monthly users.

The post MetaMask reportedly working on native Bitcoin integration appeared first on Crypto Briefing.

The co-founder of Gala (GALA), Eric Schiermeyer, is revealing the genesis of an exploit that led to the loss of crypto assets worth millions of dollars on the blockchain-based gaming platform. Schiermeyer says that a security incident triggered the “unauthorized SALE of 600 million ($21 million) GALA tokens and the effective BURN of 4.4 billion […]

The post Gala Co-Founder Confirms Hack, Says Security Incident Led to Unauthorized Sale of $21,000,000 Worth of Coins appeared first on The Daily Hodl.

Presidential hopeful Donald Trump is asking for donations in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), XRP and other altcoins as the 2024 US election gets closer In a new press release, the Trump campaign says it will now be accepting crypto donations for the 2024 election and accuses Democrats of trampling on Americans’ financial freedom […]

The post Donald Trump Asks for Bitcoin, Ethereum, Dogecoin and XRP Donations As Crypto’s Election Cycle Heats Up appeared first on The Daily Hodl.

Congressman Emmer warns Biden’s CBDC plan threatens privacy, introduces bill to prevent government surveillance.

The post Biden Administration seeks China-style CBDCs, warns US Congressman appeared first on Crypto Briefing.

A deep-pocketed crypto entity has been seen suddenly withdrawing more than a half trillion Pepe (PEPE) as the memecoin soars, on-chain data shows. Blockchain tracking firm Lookonchain noticed that the crypto whale withdrew 592 billion PEPE from Binance, the world’s top crypto exchange, which was worth nearly $8 million at the time of the transaction. […]

The post Whale Withdraws Over Half a Trillion PEPE Worth Nearly $8,000,000 From Binance As Memecoin Soars appeared first on The Daily Hodl.