Overview of Bitcoin Market Activity

• Binance’s share of the Bitcoin spot market has fallen more than half since February, when it peaked at 85%.
• Tether USDT is strengthening its reserves with a purchase of Bitcoin.
• Ripple XRP rose 7% after a judge denied the SEC’s motion to seal Hinman documents.

Binance’s Share of Bitcoin Spot Market Falls

Binance’s share of the Bitcoin spot market has fallen more than half since February when it peaked at 85%. This decline indicates that other exchanges are taking on more activity in the crypto market. Tether USDT is also attempting to strengthen its reserves by purchasing Bitcoin.

Crypto Advocacy Group Criticizes UK Treasury Committee

A crypto advocacy group have criticized a report from the UK Treasury Committee which suggests that cryptocurrencies should be regulated like gambling. The advocates argue that this approach does not take into consideration the potential for growth and innovation that blockchain technology offers.

Ripple XRP Rises After Judge Denies SEC’s Motion

Ripple XRP rose 7% after a judge denied the SEC’s motion to seal Hinman documents. The legal battle between Ripple and the SEC has been ongoing for some time, but investors may now be feeling confident in Ripple’s prospects as a result of this ruling.

OpenAI CEO Calls For AI Regulation During Senate Hearing

During a Senate hearing, OpenAI CEO Sam Altman called for increased regulation around artificial intelligence (AI). He argued that AI can be used for both good and bad purposes, and so needs to be monitored closely by regulators in order to ensure its responsible use.

Long-Term Holders Selling Nearly 50K BTC

Long-term holders have sold nearly 50,000 BTC on May 15th, setting a new record high for such sales this year. Addresses which held Bitcoin for more than one year sold 18,000 BTC; addresses which held Bitcoin for more than two years sold 17,000 BTC; and those who held it longer than three years also sold 17,000 BTC. This measure represents revived supply or amount of Bitcoins entering circulation again after being untouched over long periods of time.