Coinbase Wallet Adds Support For BNB Chain & Avalanche – May 24

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $29,418

Bitcoin price has swung from range highs to range lows within a day, as price tested the mid-$28,000s earlier today. Price is currently sitting above $29,000.

Top-20 altcoins are down across the board, as Ethereum falls 5%, BNB drops 4% and Avalanche tumbles 13%. Tron is the only gainer, with a 6% rise.

Top Stories for May 24, 2022 πŸ”₯

πŸ‘‰ Coinbase Wallet Adds Support For BNB Chain & Avalanche

Coinbase Wallet has added support for BNB Chain and Avalanche, providing users with the ability to store and swap thousands of additional tokens from both networks.

The wallet now offers support for a total of four major networks, the other two being Ethereum and Polygon. Users can now trade on-chain on any of the networks, using Coinbase’s built-in decentralized exchange.

Plans are also in the works for bridging services, enabling Coinbase Wallet users to quickly and easily move assets between supported blockchains.

πŸ‘‰ Wall Street Says US CBDC Would Destroy Banking As We Know It

The US Federal Reserve launching its own central bank digital currency (CBDC) could spell disaster for the current banking system, say Wall Street bankers.

Comments made on a recent Fed report on the possibility of a CBDC included statements saying that such a currency would harm banking consumers and businesses, as well as shift 71% of bank funding to the Federal Reserve.

πŸ‘‰ Ethereum Layer-2 Platform Optimism Removes 17K Addresses From Airdrop

Ethereum Layer-2 scaling platform Optimism has removed 17,000 addresses from its first airdrop, as it attempts to crack down on airdrop “farmers” exploiting the distribution mechanism.

Some users had mass-created wallets and used the platform with each, in hopes of collecting several airdrops across all of the addresses. Optimism says that the tokens that would have gone to these wallets will instead be distributed across legitimate recipients.