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⚡️Ethereum Miners Reached Record Profits In May. Despite the fall in the cryptocurrency market, Ethereum miners made record profits in May. As of May 24, the profit of the miners of the second cryptocurrency was $1.93 billion. Almost half of the profits were generated by the miners from transaction fees. So, the income of miners from commissions amounted to $922.46 million, and the profit from the extraction of blocks - $1.01 billion. May has already become a record in terms of the amount of miners' income, and by the end of the month this figure will exceed $2 billion.

The Bank of Korea will begin testing the government's cryptocurrency in August. South Korea's central bank selects a technology provider to create a pilot platform for a government cryptocurrency. Testing will run from August to December this year. According to a statement from the South Korean Central Bank, the platform will contain simulators of commercial banks and retail outlets, and the tests will include payment using mobile phones, transferring money and making deposits.

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💰Billionaire Ray Dalio announced his own investment in bitcoin. Bridgewater Associates founder Ray Dalio announced the acquisition of Bitcoin. According to Dalio, the depreciation of the dollar is leading to the formation of favorable conditions for the cryptocurrency. Discussing the inflationary scenario, he stated in an interview with CoinDesk: “Personally, I would prefer bitcoin over bonds. I have some investment in bitcoin."

The Chinese mining company will invest $9 million in the construction of a data center in Kazakhstan. Chinese mining company BIT Mining Limited today revealed its intention to invest 60 million yuan ($9.33 million) in a data center for mining cryptocurrencies in Kazakhstan. It will be built in collaboration with a local company and is expected to provide 100 MW of capacity. BIT Mining will share the share in the new data center with a partner at a ratio of 80 to 20.

Polygon and Maker have doubled in price in a few hours amid a halt in Bitcoin's decline. The cryptocurrency market is recovering moderately this Monday after a sharp decline last week. Two assets performed better than the others. These are Polygon (MATIC) and Maker (MAKER), whose prices more than doubled in 12 hours. Polygon rallied from $0.75 to a peak of $1.51. Before that, in less than a week, the token lost 72% - on May 18, its value was $2.68. A similar pattern emerged in the market for the Maker token used in the governance of the MakerDAO organization. Since Sunday, it has risen in price from $1,835 to $3,694. Like Polygon, Maker has dropped 71% from its all-time high in early May and 63% over the past week.

❗️Media: the developers of the DeFi100 project disappeared with users' cryptoassets for $32 million. Information appeared on the network that the DeFi100 decentralized financing protocol may have turned out to be a scam. The project team denies hacking and theft of $32 million cryptoassets. The DeFi100.org website is still down. The price of the DeFi100 (D100) token fell 25% to $0.08 after the information about the termination of the project appeared.

Australia's Minister of Financial Services explained why the authorities will not interfere with cryptocurrency investors. On the eve of the Australian Minister of Financial Services Jane Hume said that cryptocurrencies will grow as an asset class, while the country's government will not stand in the way of traders and investors. The Minister is sure that the safety of investments is the responsibility of the investors themselves. When it comes to cryptocurrencies, Australian financial regulators will prefer to take the seat of an observer and not put a spoke in the wheels of digital asset fans.

❗️Chinese authorities criticized cryptocurrencies in a new publication. Bitcoin is down 18%. The official news agency of the Chinese government, Xinhua, released a publication entitled "Urgently Eliminate the Hype and Chaos Around Virtual Currency." In the publication, the news agency recalls a report from three self-regulatory associations that pointed to the risks of cryptocurrency transactions. In addition, the publication states that bitcoin "is not and will not become a currency", investors should not take part in trading it, and financial and payment institutions should support such activity. The department also mentions further steps to prevent the described offenses, including "strengthening the fight against mining and trade, maintaining normal economic and financial order and creating better conditions for the launch of the digital yuan." The price of bitcoin decreased by 18% yesterday and reached a local minimum of about $31,100.

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Cryptocurrency market capitalization fell below $1.4 trillion, according to CoinMarketCap. On May 12, the figure exceeded $ 2.5 trillion for the first time.

⚡️Societe Generale analysts have called Bitcoin the worst investment alternative against the background of gold. The high volatility of Bitcoin and the entire crypto market as a whole - that is, abrupt changes in coin rates - again became the subject of criticism from analysts at the Société Générale financial conglomerate. In an appeal to investors, the organization noted that "the rapid leaps in the price of Bitcoin" have significantly reduced the value and importance of cryptocurrency in investment portfolios. In other words, analysts do not consider BTC to be an important investment compared to other popular assets, and especially gold.

🔗 Crypto exchanges in Hong Kong were offered to ban services from retail investors. Cryptocurrency exchanges in Hong Kong may be required to obtain licenses from the local market regulator and protect non-professional traders from trading, writes Reuters. Industry officials have already protested against measures that would force them to withdraw from serving retail investors. They admit that because of this, the business may leave the jurisdiction, and investors will go to unregulated sites.