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	Happy Friday! Billy Bambrough here with the latest news from the world of bitcoin and crypto. 📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.


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24-hour crypto market snapshot

Bitcoin (+2%)

$39,938

Ethereum (+2%)

$2,652

Luna (+4%)

$99.43

Avalanche (+5%)

$76.55

Slippery slope ⛷️


	Cryptocurrency prices are currently making a bid higher, with the bitcoin price leaping toward $40,000 again after bouncing around the key support level this week. Ethereum and the rest of the crypto top ten are also climbing, with recent winners Terra's luna and avalanche leading the major market higher. Meanwhile, one year on from the record-breaking sale of digital artist Beeple's $69 million non-fungible token (NFT), many are asking if the bottom has fallen out of the NFT market. The average selling price of an NFT has dropped more than 48% since a November peak to around $2,500 over the past two weeks, data from the website NonFungible first reported by the Financial Times showed, with daily trading volumes on major NFT marketplace OpenSea cratering 80% to roughly $50 million in March, just one month after they reached a record peak of $248 million in February. Now read this: The many escapes of Justin Sun

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Changing its Stripes 🐯



	Patrick Collison (left) and John Collison co-founded the payments company Stripe in 2009, growing it to a global payments powerhouse. © 2021 Bloomberg Finance LP


	All in: Payments giant Stripe, after going back and forth of bitcoin over the last decade, is ready to embrace crypto and web3. "Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces," Stripe president and co-founder John Collison said via Twitter. "Not just pay-ins but payouts, KYC and identity verification, fraud prevention, and lots more." Zoom out: Stripe ended its four-year bitcoin support in 2018, calling the cryptocurrency "less useful" as a means of payment. However, in October last year Stripe created a team dedicated to web3 payments, stepping back into the crypto space. Under threat: Stripe, valued at almost $100 billion and already powering a pretty major swath of the internet's financial infrastructure, will have put pressure on existing crypto payments processors that lack the company’s expansive reach. First in line: Stripe has said it will be building crypto exchange FTX's new user onboarding and identity verification features. Stripe's chief product officer teased more crypto-related things to come: "Stripe is working with many of the most exciting projects in web3." Caught in a web: Stripe, a web 2.0 company that's helped some of Silicon Valley's biggest internet giants swamp every corner of the internet, will have a hard time convincing the likes of bitcoin advocate Jack Dorsey that their visions of the internet's future align. The bottom line: After countless false starts, including Elon Musk's and Mark Cuban's push for dogecoin adoption, crypto's potential as a means of payment is finally gearing up and attracting some serious players. Whether it can still be called decentralized when relying on the likes of Stripe or if regulators will allow it is another matter. Now read this: A $165 million effort to make bitcoin more useful

The U.K.'s quiet war on crypto 🤫

👮 Bitcoin and crypto ATMs across the U.K. have been ordered to shut down as the backlash against crypto in the wake of strict new financial sanctions on Russia ramps up.

📨 The Financial Conduct Authority (FCA) has written to the operators of the U.K.'s 81 crypto ATMs telling them to cease operations or face enforcement action, pointing minimal background checks being done on users, especially for small deposits.

🕵️ Meanwhile, research from communications agency SEC Newgate has found cryptocurrency broadly remains a niche issue for U.K. lawmakers, with just 7% of all members of Parliament mentioning crypto-related terms across social media and the House of Commons over the last year.

Good to know: Crypto Regulation Is Finally Starting To Catch Up To Market Innovation

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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