Forbes - Sol season 🕶️

CryptoCodex


	Happy Friday! This is Billy Bambrough, here with your latest batch of crypto news and analysis. 📧 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 (-5%)

$45,198

Ethereum (-4%)

$3,284

Solana (-1%)

$124.87

Luna (-5%)

$102.89

Sol rises again 🌅


	Cryptocurrency prices took a turn for the worse last night following the European Parliament voting to require crypto exchanges ⁠and other companies to verify the identities of the owners of unhosted wallets with which they transact in advance of a transaction. The bitcoin price is this morning off by almost 5% while ethereum is down 4%. XRP, cardano and avalanche are leading the major market lower, all down by 6%. Meanwhile, solana, last year's hottest cryptocurrency that counts some big Silicon Valley names among its backers, somewhat bucked the trend. Solana has finally begun to move lower, now down around 1% on this time yesterday, but is still up more than 20% over the last week. Look out today... for the latest U.S. nonfarm payroll numbers, out at 8:30am EDT. Employers are forecast to have added almost half a million people to their payrolls in March after hiring almost 700,000 a month earlier. Good to know: Bitcoin ended Q1 closely following the S&P 500

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In the halls of power 👥



	Fabio Panetta, a member of the European Central Bank's executive board, alongside the bank's president Christine Lagarde. Getty Images


	Dorsey meets Dems: Jack Dorsey, the bitcoin believer who last year quit Twitter to reorganize his payments company Square into the bitcoin-focused Block, has sat down with leading Democrats this week, according to a report by The Block (no relation). Pressing questions: Committee members reportedly asked Dorsey about bitcoin's sky-high energy consumption, its use in money laundering, and whether it could be widely used as a means of payment. Buidl-ing: "We want to build services and don't want to be a Visa or Mastercard," Dorsey was quoted as saying in notes from the meeting with the Democrats of the House Financial Services Committee during a private Q&A session obtained by The Block. "We want to be an open medium for everyone in the world." On the other side of the aisle: Outspoken crypto critic senator Elizabeth Warren (D-Mass.) called on the U.S. to create its own central bank digital currency (CBDC)—sometimes known as a digital dollar—and predicted new regulations are on the way for bitcoin. "I think it's going to end up getting regulated," Warren reportedly told NBC. In March, Warren introduced a bill that would block cryptocurrency companies from doing business with sanctioned companies. Meanwhile, across the pond... European Union lawmakers voted yesterday for controversial measures to outlaw anonymous crypto transactions, a move the crypto community has warned will stifle innovation and invade privacy. Coindesk has a write-up. Now read this: Ben McKenzie would like a word with the crypto bros

🇨🇳 China's banning crypto... again


	🤳 WeChat, China's popular messaging app, has suspended some accounts linked to non-fungible tokens (NFTs) to stop people from speculating on the digital assets—many of which have rocketed in value over the last year or so. 💬 "In order to prevent the risk of speculation in virtual currency transactions, the WeChat public platform has recently standardized and rectified public accounts and small programs for speculation and secondary sales of digital collections," the company, owned by Chinese technology giant Tencent, posted to its official Weibo account. 💣 Last year, China sent shockwaves through crypto markets when it cracked down hard on both crypto trading and using high-powered computers to create new cryptocurrencies, a process known as mining. Good to know: Bored Ape Yacht Club confirms its Discord was hacked

Binance is hitting the red carpet 🎤


	🤑 Not to be outdone by Super Bowl and Oscars ads, the world's largest crypto exchange Binance has announced it will be sponsoring this year's Grammys, scheduled for Sunday in Las Vegas. 🗣️ "Starting with the Grammys, we are excited to work together with the Recording Academy to bring fresh new experiences powered by blockchain and all the great things web3 technology can bring to entertainment," Binance co-founder Yi He said in a statement. Coindesk has a write-up. 🎨 The fan backlash against crypto and non-fungible tokens (NFTs), which have been embraced by some to bolster artist revenues, has been growing in recent weeks and Binance's appearance at the Grammys may not be smooth sailing. Now watch this: The Global Restaurant Brand With The Million Dollar NFT Membership Club

	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.

Follow me on Twitter or email me.

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