May the 4th be with you,Crypto Joke Thursday!How many Bitcoin miners does it take to change a light bulb?

A million; one to do it and the rest to verify he did it. 🤣Ok, Enough silliness; let’s dive in!

• 🤝 Coinbase and Ripple Team Up

• 📉 Volatile SUI Tanks After Launch

• 🧗 Bitcoin Climbs Again

🤝 Coinbase and Ripple Team Up

In a scene reminiscent of Game of Thrones houses uniting for battle, top legal minds from Ripple and Coinbase recently met to discuss their challenges in the ever-evolving crypto realm.

Stuart Alderoty of Ripple and Paul Grewal, Coinbase's Chief Legal Officer, exchanged pleasantries and hinted at future collaborations.

Both companies are currently engaged in legal skirmishes with the formidable foe, the U.S. Securities and Exchange Commission (SEC). Caveat; Gary Gensler is nowhere near as "cool" as the Night King!

Ripple's ongoing lawsuit alleges an unregistered securities offering involving XRP tokens, while Coinbase was recently served with a Wells notice.

The enemy of my enemy is my friend! ☠️

Grewal's blog post detailed Coinbase's response, emphasizing the company's desire for a clear regulatory framework and asserting that they have not listed securities. 

Though not eager for litigation against the SEC, Coinbase stands ready to defend itself and uphold the rule of law.

With XRP delisted from Coinbase due to the lawsuit, it remains to be seen if this alliance will see the controversial token return to America's largest cryptocurrency exchange. 🤦Awkward!

Will these crypto houses stand united against the common enemy, or will they crumble under regulatory pressure?

📉 Volatile SUI Tanks After Launch

The highly anticipated SUI mainnet launch on May 3rd brought to mind other infamous limp launches in history. 

While the Sui Foundation celebrated the Layer-1 blockchain's potential to enable developers to build without complex infrastructure, the SUI token's price took a nosedive soon after going live.

Much like the ill-fated launch of the Titanic, SUI's price sank from $3.5 to $1.5 within minutes, exposing the project to the harsh realities of the crypto market. 

Major platforms like Binance, OKX, Kucoin, Huobi, Poloniex, and Bybit supported the Sui mainnet launch. 

Still, the token's rapid price drop mirrored the disastrous launches of New Coke or the Galaxy Note 7.

Ouch! 🧯

Adding fuel to the fire, Tron Founder Justin Sun's transfer of over 56 million TUSD to Binance sparked rumors of his intent to farm SUI tokens, prompting a warning from Binance CEO CZ.

CZ…Bossing crypto!! 🖖

As with other notorious launches, only time will tell if SUI can recover and live up to its potential.

🧗 Bitcoin Climbs Again

Much like Sir Edmund Hillary's historic climb to the summit of Mount Everest, Bitcoin embarked on its own uphill journey to reclaim $29,000.

The crypto big boy initially remained flat following yesterday's FOMC meeting but experienced a spike in the following hours, akin to Hillary's unwavering determination on his ascent.

Altcoins also turned green, with FTM leading the pack in the mid-cap alts category, echoing Hillary's triumph as the first to conquer the world's tallest peak. 

Maybe a slight exaggeration, but I like the vision!

The crypto community anticipated further volatility when the US Federal Reserve announced another potential interest rate hike. 

The new rate of 5% did not cause an immediate reaction from Bitcoin, but the digital currency soon rallied to climb over the $29,000 mark.

The calm before the storm?

As Bitcoin continues its ascent, much like Sir Edmund Hillary's groundbreaking expedition, its market capitalization now stands at over $560 billion, with a 47.1% dominance, according to CoinMarketCap. 

Bitcoin's resilience parallels legendary climbers' determination and spirit, pushing boundaries and scaling new heights.

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