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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.

 

Hoskinson to Build Fantastic Engines to Hold Billion Worth Transactions Yearly

 

Charles Hoskinson, the founder of Cardano (ADA), plans to build fantastic engines capable of processing billions, if not trillions, of transactions every year. He gave a title to his recent YouTube video “Thoughts on the Market and the Ecosystem”, where he gave his opinions on a set of circumstances in the cryptocurrency market. 

 

Bitcoin Mining Difficulty Falls by 16% As China Anticipates Crackdown

 

As China prepares its regulatory crackdown on Bitcoin mining and trading, the network’s mining difficulty suffered its greatest decrease this year falling down by 16% to 21 trillion. In fact, Bitcoin’s average block production interval has now increased to 11 minutes between May 13, the last mining difficulty adjustment date, and May 21.

 

Elon Musk is Discovering a New Idea Case for Dogecoin

 

Elon Musk, the CEO of Tesla, has discovered a new idea of building a hot tub powered by Dogecoin mining heat. The wacky scheme was proposed by the Twitter account of Blockfolio, the top cryptocurrency portfolio tracker.

 

Ripple Interrupts SEC from Accessing its Legal Concerns Regarding XRP

 

Ripple interrupted the US Securities and Exchange Commission (SEC) from obtaining records of legal concerns regarding  XRP’s classification as a security. On May 7, the SEC had requested that Judge Netburn require Ripple to submit documents of legal guidance about whether its huge XRP sales comply with federal securities laws.

 

Starling Bank in UK Prohibits Cryptocurrency Exchange Deposits

 

UK’s Starling Bank has prohibited cryptocurrency exchange deposits while dealing with “high levels of alleged financial fraud.” According to Starling, the block will be lifted as they bring out further checks particularly for payments to crypto exchanges.