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Daily News Headlines | Latest Crypto News (12th May) | Cryptoknowmics

Here are the top 5 crypto news for the day!

Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we

know it, in the coming days.

 

Tesla CEO Halts Shanghai Expansion, Starts Twitter Poll on Doge

 

A tweet from the founder and CEO of Tesla Elon Musk asking his 54 million Twitter followers to add Doge as a mode of payment is making headlines today.  As per the reports, Tesla is looking for the idea of expanding its Shanghai operations that at present hold the capacity to produce 500,000 cars per year. These cars will be produced in the global export hub that would ultimately send Model 3 sedans to the U.S. market. 

 

Bitcoin Price Could Drop to $40,000, If Falls Below Key Level: Analyst

 

Speaking to Bloomberg on May 11, Pankaj Balani, the CEO of digital asset derivatives exchange, Delta Exchange, said that Bitcoin could result in a price drop if higher support levels fail to hold. The leading cryptocurrency could drop to as low as $40,000 after falling below a key technical level, indicating significant losses for the BTC/USD trading pairs.

 

Palantir Q1 Earning Suggests “Firm is Bullish on Bitcoin” 

 

Chairperson of Billion-dollar data analytic firm Peter Thiel of Palantir has reportedly revealed its plans for accepting the first digital currency, Bitcoin as a mode of payment. According to the reports on earnings of Palo Alto firm’s Q1 2021, Palantir reported a $341 million revenue and 49% growth.

 

Block.one Secures $10 B for EOS-Based Crypto Exchange Subsidiary

 

The blockchain software company Block.one has recently made an announcement regarding their plans to launch a crypto exchange subsidiary. The Bullish Global cryptocurrency exchange platform based on EOS is highly expected to go live in the latter part of this year.

 

Cardano Plans to Launch Decentralized Stake Pool Operator (SPO) Next

 

IOHK, the blockchain research & development firm behind Cardano, has announced plans to launch the decentralization of the network’s stake pool operator (SPO). Cardano’s (ADA) performance in 2021 has been nothing short of stellar with the cryptocurrency starting the year out at only about 17 cents before touching its new all-time high of $1.82 on May 9.