Hyperbitcoinization is underway, RFK seeks Bitcoin donations and other news: Hodler’s Digest, May 14-20 By Cointelegraph

US Dollar Picks Up Momentum Ahead of Key Macro Events: What to Watch Out for

Hyperbitcoinization is underway, RFK seeks Bitcoin donations and other news: Hodler’s Digest, May 14-20

Published May 20, 2023 05:23PM ET Updated May 21, 2023 06:00PM ET

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Hyperbitcoinization is underway, RFK seeks Bitcoin donations and other news: Hodler’s Digest, May 14-20

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Bitcoin has crossed a significant threshold this month there are over 1 million addresses that hold at least 1 BTC. Data from Glassnode shows an escalating pattern with regard to the amount of so-called Bitcoin wholecoiners. If the trend continues, Bitcoin price escalation could soon make buying it not only a luxury but something potentially unattainable altogether, according to Adam Back, co-founder and CEO of Bitcoin firm Blockstream. This hyperbitcoinization refers to the moment when the benefits of Bitcoin for financial transactions will eventually lead to the replacement of established financial institutions by a public-driven system, with Bitcoin becoming the world’s default value system.

FTXs leadership is looking to claw back more than $240 million from insiders and executives that benefited from FTX’s wildly inflated acquisition of stock-clearing platform Embed in September. According to court filings, Embeds own chief technology officer, Laurence Beal, was stunned that FTX paid so much for the company after one short meeting with its then-CEO, Michael Giles. Beal described FTXs due diligence process with a cowboy emoji. Lawyers accused FTX insiders of disproportionate payouts to Embed shareholders, including $55 million paid to its CEO.

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US 30	36,141.8	+17.2	+0.05%
US 500	4,564.3	-2.9	-0.06%
Dow Jones	36,142.62	+18.06	+0.05%
S&P 500	4,564.03	-3.15	-0.07%
Nasdaq	14,228.90	-1.02	-0.01%
S&P 500 VIX	12.88	+0.03	+0.23%
Dollar Index	103.972	-0.023	-0.02%

Crude Oil WTI	69.51	-2.81	-3.89%
Brent Oil	74.50	-2.70	-3.50%
Natural Gas	2.572	-0.138	-5.09%
Gold	2,046.35	+10.05	+0.49%
Silver	24.253	-0.293	-1.19%
Copper	3.7357	-0.0483	-1.28%
US Soybeans	1,299.12	-6.88	-0.53%

U.S. 10Y	4.116	-0.055	-1.33%
U.S. 30Y	4.215	-0.091	-2.11%
U.S. 5Y	4.119	-0.019	-0.45%
U.S. 3M	5.409	+0.002	+0.04%
US 10Y T-Note	111.17	+0.25	+0.23%
Euro Bund	135.47	+0.58	+0.43%
10-2 Yield Spread	-41.37	-3.31	8.70%

Apple	192.72	-0.70	-0.36%
Alphabet A	130.66	-0.32	-0.25%
Tesla	245.59	+6.87	+2.88%
Amazon.com	145.75	-1.13	-0.77%
Netflix	450.48	-4.67	-1.03%
Meta Platforms	319.46	+1.17	+0.37%
Bank of America	30.96	+0.38	+1.26%

Hyperbitcoinization is underway, RFK seeks Bitcoin donations and other news: Hodler’s Digest, May 14-20

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