tl;dr
• After Depositing $100,000,000,000 Apple Banking Customers Are Struggling to Access Their Money• Elizabeth Warren Crypto Bill Would Close Loopholes• Ripple Partners with Dorahacks to Organize an Online Hackathon• YouTube Reverses Election Policy• Bitcoin ATMs Witness Surge in Numbers for the First ...
• After Depositing $100,000,000,000 Apple Banking Customers Are Struggling to Access Their Money
• Elizabeth Warren Crypto Bill Would Close Loopholes
• Ripple Partners with Dorahacks to Organize an Online Hackathon
• YouTube Reverses Election Policy
• Bitcoin ATMs Witness Surge in Numbers for the First Time in 2023
• US Banking System Will Lose Massive Chunks of Wealth from Businesses Seeking Yield
1. Apple customers who recently deposited a massive sum of $100 billion into their Apple Cash accounts are facing difficulties accessing their money. The issue seems to be related to a recent update to Apple Cash, which now requires users to verify their identity before they can send or receive large amounts of money. However, some users have reported that they have been unable to verify their identity, even after providing all of the required information. As of now, Apple has not acknowledged the issue or provided any information on how to resolve it.
2. Senator Elizabeth Warren has introduced a bill called the "Digital Asset Market Structure and Investor Protection Act" to address regulatory gaps in the cryptocurrency industry. The bill aims to close loopholes by requiring cryptocurrency exchanges to register with the Securities and Exchange Commission (SEC). Additionally, cryptocurrency companies would be obligated to provide more information to investors about the risks associated with investing in cryptocurrencies. Warren argues that the bill is necessary to protect investors from fraud and manipulation in the cryptocurrency market.
3. Ripple has teamed up with Dorahacks to host an online hackathon called "Ripple X Dorahacks: Building the Future of Finance." The hackathon is scheduled to take place from June 6-12, 2023. Participants will have the opportunity to build applications utilizing Ripple's technology, and the winning teams will receive prizes such as cash rewards, mentorship, and access to Ripple's network.
4. YouTube has reversed its policy of banning content related to discussions of election fraud. The policy was initially put in place in the aftermath of the 2020 US presidential election, where misinformation about the election results was widespread. YouTube has stated that it is reversing the policy because it believes it is important to allow people to engage in discussions about important issues, even if they are controversial.
5. The number of Bitcoin ATMs around the world has seen a significant surge in the first quarter of 2023. According to a report by Coin ATM Radar, there are now over 35,000 Bitcoin ATMs globally, compared to 32,000 at the end of 2022. This increase can be attributed to the rising popularity of cryptocurrencies and the growing demand for accessible ways to buy and sell Bitcoin.
6. Former BitMEX CEO Arthur Hayes predicts that the US banking system will experience substantial wealth outflows as American businesses search for alternative investment opportunities. In a blog post, Hayes argues that the US banking system is "broken" and fails to provide attractive yields. He points to the current negative yields on US Treasury bonds, where investors are essentially paying to lend money to the government. According to Hayes, this indicates trouble for the US banking system and a growing desire among businesses to explore alternatives.