Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto!

Click Here to Subscribe to the Milk Road

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price: $26,813

Bitcoin price has slightly recovered to begin Friday, as price creeps toward $27,000 once again, currently sitting around $26,800.

Top-20 altcoins have also seen some gains, as Ether rises 2%, BNB gains 1% and Polygon leads with a 4% increase.

Top Stories for May 26, 2022 🔥

👉 WEF Publishes "Urgent" Crypto Regulation Recommendations

The World Economic Forum (WEF) has released a white paper on crypto asset regulation, highlighting the importance of collaboration among stakeholders.

The paper emphasizes the need for global coordination to avoid regulatory ambiguity, inconsistent enforcement, and regulatory arbitration. It acknowledges the challenges of fitting crypto assets into existing regulatory frameworks, especially due to their unique characteristics and the increasing interconnection with traditional finance.

The paper presents different classifications of regulatory frameworks, including outcome-based and risk-based approaches, and advocates for agile regulation that involves multiple stakeholders.

👉 ETH On Exchanges Approaches All-Time Low

The amount of ether (ETH) held on centralized exchanges has reached its lowest level since July 2016, largely due to the increasing popularity of staking.

Data from Glassnode reveals that only 14.85% of all ether is currently held in exchange wallets. This decrease in exchange balances is seen as a bullish sign because it suggests limited availability of ether for purchase, which can drive up prices.

The rise in staking, particularly after the introduction of the Shapella upgrade on the Ethereum network, has led to a significant increase in the number of coins being staked rather than sold.

👉 Binance Joint Venture Acquires Thai License

Gulf Binance, a joint venture between Binance and Gulf Innova, has secured licenses from Thailand's Ministry of Finance to operate as a regulated digital asset operator.

The partnership plans to launch a digital asset exchange and broker in Thailand by the fourth quarter of 2023. The venture aims to provide local users with a trusted and compliant service that prioritizes user security and adheres to local regulations.

The agreement for the joint venture was initially reached between the two entities in 2022.

🥛 SCIENCE FAIR: How smart contracts work 🧪

Today on Milk Road: 2 stablecoins to watch, Smart contracts 🤝 Science Fair, Funding Friday, and Binance gets into NFT lending.