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Digital Currency Group, the parent company for CoinDesk , is closing TradeBlock due to regulatory uncertainty and crypto winter. DCG’s spokesperson confirmed to CoinDesk that the shutdown will take place on May 31. The unit provides trading services for institutional investors. TradeBlock, acquired by CoinDesk in 2020, was spun off as a standalone business. CoinDesk retained the index data from the deal and rebranded it as CoinDesk Indices. The spokesperson stated that the acquisition “has proved to be successful”. Bloomberg broke the story first.

As staking consumes tokens, the number of ethers (ETH) available on exchanges is at a record low. Glassnode data shows that, as of Thursday 14,85% of ether was in wallets controlled by central exchanges. This is the lowest proportion since the summer of 2016, when ether was just starting out. During the bull market in 2021, however, the balance of the exchange was about 25%. Low exchange balances can be considered a bullish signal, as they indicate that the supply of Ether available for purchase is restricted.

U.S. Bitcoin Corp., (USBTC), is poised to become the largest miner in America after a deal was struck to purchase mining assets from bankrupt lender Celsius. The company is a member of the Farenheit group that won the bankruptcy auction to acquire the Celsius assets. These include a lending platform, cryptocurrencies, and 121.800 mining machines. The firm said that once it brings its entire fleet online, the computing power will be 12.2 exahash/second.

Chart of the Day

CoinDesk - Unknown TradingView

  • Dogecoin daily price change chart since June 2022.
  • The dog-themed crypto has broken out from a falling wedge, signaling a bullish trend.

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Stephen Alpher edited the book.