Major Bitcoin Advocates Send Letter To EPA Addressing Democrat Misperceptions – May 2

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $38,676

Bitcoin price is testing resistance around the $39,000 to begin the week, following a choppy weekend of price action.

Top-20 altcoins have traded relatively flat over the last 24 hours, as Ethereum gains less than 1%, BNB remains unchanged and Cronos (formerly Coin) falls a significant 14%.

Top Stories for May 2, 2022 πŸ”₯

πŸ‘‰ Major Bitcoin Advocates Send Letter To EPA Addressing Democrat Misperceptions

Major Bitcoin advocates have submitted a letter to the Environmental Protection Agency (EPA), in response to a recent House Democrat call to clamp down on Bitcoin mining.

Jack Dorsey, Michael Saylor and several others co-signed the letter, which intended to set the record straight on several misperceptions made in the house representatives’ original statement.

Several exaggerative or untrue claims were made in the Democrats’ call to action, concerning the quantity and nature of Bitcoin’s energy use.

πŸ‘‰ Solana Experiences 7th Outage In 2022, Goes Down For 7 Hours

The Solana network experienced its seventh outage of the year over the weekend, this time being crashed by network spam by NFT minting bots.

The minting bots flooded the network with millions of transactions per second, causing validators to fall out of sync. As a result, the network went down for around 7 hours, resulting in a drop in SOL price to around $84.

πŸ‘‰ EU Financial Services Commissioner Calls For “Global Agreement On Crypto”

EU financial services commissioner Mairead McGuinness is the latest EU or US official to call for a new “global agreement on crypto”, citing investor protection and environmental issues.

McGuinness stated that she wishes to ensure that “no product remains unregulated”, tacking on remarks about sanctions evasion and financial instability.