⛏️PayPal Unveils Plan To Bolster Green Bitcoin Mining

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PayPal has teamed up with Energy Web and DMG Blockchain Solutions to pilot an incentive mechanism designed to encourage Bitcoin miners to adopt clean energy. The system certifies green miners, who can then compete to validate exclusive order flow.

Two SEC lawyers have reportedly resigned after a federal judge sanctioned the regulator. The attorneys were instrumental in the SEC’s case against Debt Box and were found to have made “materially false and misleading representations” during legal proceedings.

Arkham Intelligence has identified millions worth of digital assets that have laid dormant on blockchain bridges for several months. Wallets associated with Coinbase and Vitalik Buterin were among those flagged by Arkham.

Plus, ZKasino is under fire for allegedly stealing $33 million from users, Metis rolls out “Sequencer Mining,” Trump NFT holders suffer brutal losses, and Telegram has integrated Tether’s USDT stablecoin.

✍️ In today’s newsletter:

PayPal and Energy Web promote green mining
SEC attorneys resign over Debt Box sanctions
Bridges hold millions in forgotten crypto
Investors decry ZKasino rug pull
Metis introduces Sequencer Mining
Trump NFTs tumble
Tether teams up with Telegram

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🍃PayPal and Energy Web Team Up To Incentivize Green Bitcoin Mining

PayPal has teamed up with Energy Web in a bid to leverage economic incentives to encourage green Bitcoin mining. Energy Web has developed a clean energy certification platform for miners, with network users encouraged to submit transactions with low fees and attractive tips that certification recipients can exclusively compete to validate.

⚖️️SEC Attorneys Resign After Agency Sanctioned Over Debt Box Lawsuit

Two SEC lawyers were reportedly asked to resign or face termination after the agency was sanctioned by a federal judge last month. The attorneys were found to have provided false and misleading statements during proceedings in the SEC’s lawsuit against Debt Box, with the judge describing the agency’s actions as a “gross abuse of power.”

🌉Millions In ‘Forgotten’ Crypto Lies Dormant On Bridges

Arkham Intelligence, a popular on-chain analytics platform, has flagged millions worth of digital assets that have laid dormant on cross-chain bridges for between five months and more than two years. The seemingly forgotten assets include $1.05 million held by a wallet that previously received 50 ETH from Vitalik Buterin, and 75,000 USDC bridged from Optimism by Coinbase.

💰Gambling Platform ZKasino Sends $33M To Lido Instead Of Returning Assets To Investors

ZKasino, a web3 gambling platform, is under fire for sending $33 million worth of ETH deposited by more than 10,000 users seeking to participate in its “bridge-to-earn” campaign to a multisig wallet controlled by the team. ZKasino’s investors are among those now condemning the project, with ZackXBT — a prominent blockchain sleuth — sounding the alarm on the ZKasino team several months ago.

👷Metis Introduces Decentralized Sequencer Mining With Phase 2 Rollout

Metis launched Phase 2 of the rollout for its decentralized sequencer. The upgrade introduces “Sequencer Mining,” allowing node stakers and operators to earn LSTs.

📉Nobody Is Buying Donald Trump's NFTs – So Melania Decided To Step Up

Trump’s NFT trading cards are floundering, with monthly sales count tanking 79% and trade volume plummeting 97%. The downtrend coincides with Melania Trump clambering back aboard the NFT bandwagon, announcing a $245 necklace celebrating Mother’s Day accompanied by digital collectibles in her second foray into non-fungibles.

💵Tether Partners With Telegram To Bring Crypto Payments To 900 Million Users

Telegram, the encrypted messaging app, integrated support for Tether’s USDT stablecoin in its latest move to embrace crypto. The move comes after Telegram pledged to distribute half of the advertising revenue from ads displayed on channels with at least 1,000 subscribers to channel owners via The Open network’s TON token.

🌍 ELSEWHERE

Crypto Industry Groups Sue SEC Over New 'Dealer' Rule (Wall Street Journal)
Venezuela to accelerate cryptocurrency shift as oil sanctions return (Reuters)
Patched Cosmos Bug Could've Put $150M At Risk, Says Firm That Reported It (CoinDesk)