Description

Weekly market update / outlook and Bitcoin news:

• Fed reveals 722 banks reported unrealized losses over 50% of capital as concerns over US banking crisis grow
• Texas House advances gold-backed digital currency bill
• Montana passes bill protecting Bitcoin from unique requirements
• New York Attorney General seeks new crypto powers for state regulators
• Bitcoin provides insurance against fiat currency failure, says Validus Power Corp's Greg Foss
• The business case for implementing Bitcoin's Lightning Network
• Bitcoin network overwhelmed by 390,000 unconfirmed transactions and surging fees
• Binance closes Bitcoin withdrawals amid congestion on the Bitcoin network
• US Justice Department investigates Binance for Russia related sanctions violations:  Bloomberg
• Check out this week's substack "A look at Bitcoin Adoption"

Substack: Bitcoin Fortress

Twitter: Bitcoin Fortress

Books: Amazon Author Page

Mentioned in this week's Podcast:

https://news.bitcoin.com/fed-reveals-722-banks-reported-unrealized-losses-over-50-of-capital-as-concerns-over-us-banking-crisis-grow/

https://news.bitcoin.com/texas-house-advances-gold-backed-digital-currency-bill/

https://bitcoinmagazine.com/legal/montana-passes-bill-protecting-bitcoin-mining

https://www.coindesk.com/policy/2023/05/05/new-york-attorney-general-seeks-new-crypto-powers-for-state-regulators-report/

https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/

https://bitcoinmagazine.com/business/implement-bitcoin-lightning-in-your-business

https://news.bitcoin.com/bitcoin-network-overwhelmed-by-390000-unconfirmed-transactions-and-surging-fees/

https://cointelegraph.com/news/binance-closes-btc-withdrawals-amid-congestion-on-the-bitcoin-network

https://www.coindesk.com/policy/2023/05/06/us-justice-department-investigating-binance-for-russia-related-sanctions-violations-bloomberg/

https://bitcoinfortress.substack.com/p/a-look-at-bitcoin-adoption