Bitrue Bulletin | 1.5.2023–7.5.2023 | by Bitrue | May, 2023

From the Bitrue blog.

| 1.5.2023–7.5.2023 |

First Republic Bank Seized and Sold to JPMorgan in Effort to Stabilize U.S. Banking System — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of the U.S. banking system. It’s the third midsize bank to fail in less than two months. The only larger bank failure in U.S. history was Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan in a similar government-orchestrated deal.

SEC Delays Defining Digital Assets in Hedge Fund Reporting Rules — The U.S. Securities and Exchange Commission (SEC) has decided to postpone the inclusion of a definition for “digital assets” in the reporting disclosures rules for hedge and private equity funds, despite initially proposing the definition nine months ago. The SEC’s original proposal in August 2022 aimed to establish a clear definition for digital assets, but the recent statement clarified that they are still considering the term and have not adopted it as part of the current rule. The delay reflects ongoing discussions and deliberations within the SEC regarding the classification and treatment of digital assets in the regulatory framework.

Bitcoin BRC-20 token standard becomes new destination for meme tokens — The BRC-20 token standard on the Bitcoin blockchain has gained significant attention in the crypto ecosystem, particularly with the rise of meme tokens like Pepe (PEPE) and Memetic (MEME). With approximately 8,500 BRC-20 tokens minted, this experimental standard allows for the creation and transfer of fungible tokens through the Ordinals protocol. Notably, BRC-20 transactions have surpassed regular Bitcoin transactions, accounting for over 50% of the transactions on the Bitcoin blockchain between April 29 and May 2.





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Meme Frogs Battle Begins! — Bitrue listed both $PEPE/USDT and $PEPECOIN/USDT trading pairs on Bitrue Spot at 8:00 UTC, 6 May. Deposits are now open. Read more:

Read about the Highlights From Bitrue x WadzPay’s “Ask Me Anything” Session on Telegram here. In another edition of Bitrue’s Telegram “Ask Me Anything” session, we chatted with Stas Madorski, the Senior Vice President — of Blockchain Strategy at WadzPay. We had a deep dive into WadzPay, a Blockchain-based payment platform for digital currencies.

WadzPay Token Trading Contest has started on Bitrue — The more WTK users buy, the more they stand to earn. Users stand to share up to 400,000 $WTK in prizes. Learn more:

This article came directly from the Bitrue blog, found on——2

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