Bitcoin fell over 2% in the last 24 hours and traded
below the $30,000 mark in cautious trading as the fallout over a crashed stablecoin
continued to keep sentiment in check. Currently, the price is close to the
$29,000 mark, it is down 36% this year and trading far below its November 10
all-time high of $69,000.

Bitcoin has declined over 21% in May, the worst monthly
slump in a year, following last week’s crypto sector turbulence over the
collapse of TerraUSD (UST) algorithmic stablecoin and Tether’s short dip from
its dollar peg.

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Cryptocurrencies have been swept up in a sell-off this
year in risk assets, which has picked up steam as data showed US inflation
running hot, deepening investor fears about the economic impact of aggressive
central bank tightening.

Bitcoin fear and greed index on Thursday, May 19, 2022,
went from the extreme fear level of 12 to the level of 13 as per the
alternative. me. The Fear and Greed index is a technique for assessing
investors’ emotions toward the market.   

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Bitcoin is currently trading at $29,000.58, down by
2.81%. In the last 24 hours, the highest it touched was $30,016.18 and the
lowest was $28,708.96. Bitcoin has a current market cap of $552,020,534,550. It
has a circulating supply of 19,043,893.00 BTC coins and a maximum supply of
21,000,000 coins.

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Coinbase launches new crypto think tank to help form
policies

Cryptocurrency exchange Coinbase has launched a “crypto
native think tank” in an attempt to help form the global conversation around
policies for digital assets. The newly created Coinbase Institute will also
publish research on crypto and Web3.

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The think tank features an advisory board of finance and
law academics from top United States universities and will publish original
research to shape policies around crypto. Coinbase has appointed its director
of policy Hermine Wong to head the institute.