Daily Market Update - May 26, 2020

$BTC 24 Hour High $9,063.68 $BTC 24 Hour Low $8,719.67 $BTC -0.81%

Total Crypto Market Cap $247.3 B (+0.41%) 24 Hour Volume $95.8 B (-13.76%) BTC Dominance 65.6% (+0.31%).

The self-proclaimed (FRAUD) creator of Bitcoin claims to own some 1.1 million Bitcoin (about $9.77 billion) in a series of addresses known as the "Tulip Trust," which Wright alleges were mined by Satoshi Nakamoto, the pseudonymous creator of Bitcoin. But over the weekend, the actual owner of 145 of those addresses used them to sign a message calling Wright a fraud. The full message read: "Craig Steven Wright is a liar and a fraud. He doesn't have the keys used to sign this message,” it reads. “The Lightning Network is a significant achievement. However, we need to continue work on improving on-chain capacity. 

“Unfortunately, the solution is not to just change a constant in the code or to allow powerful participants to force out others,” the message continues. “We are all Satoshi.”

Data shows that over 310,000 Bitcoin has been removed from exchanges in the time following March 12th. It is probable that this crypto has been moved into cold storage solutions, signaling that investors are planning to hold their BTC over a longer time frame.

The Swiss government has denied a 100 million franc request by the Canton of Zug for use in keeping local crypto companies afloat, according to local newspaper Tages-Anzeiger. Local crypto firms will have to make do with a 15 million Swiss franc loan ($15.4 million) announced earlier today by the canton of Zug. Apparently "more than two thirds" of crypto startups that applied for a wider federal COVID-19 guarantee loan allegedly failed to receive it.

The state of Louisiana might soon pass a bill to offer licenses for crypto businesses to operate legally, according to a May 25 report. The bill was filed earlier this year with the goal of helping crypto businesses get official licensure and bring more crypto-related business to the state.

Traditional markets were up today as the US continues to ease lock down restrictions.

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