![Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank](https://www.coindesk.com/resizer/EUxyNaUmes7G1kA95U0Ir-kv9Jw=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FPZTYQS6IBCUDJRI6LED2CAN6Q.jpg)
Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank
BTC’s price had dropped from well above $29,000 since Sunday evening. Investors await Wednesday’s FOMC decision.
![Michael Saylor's MicroStrategy Books a Much Smaller Bitcoin Impairment Charge Michael Saylor's MicroStrategy Books a Much Smaller Bitcoin Impairment Charge](https://www.coindesk.com/resizer/xSA4ikrFRjq4nAdAQeZTJjpSUlg=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3W3F2HLHJREEXJAK3UTA466HLA.jpg)
Michael Saylor's MicroStrategy Books a Much Smaller Bitcoin Impairment Charge
Amid BTC's big rally, the company's impairment loss narrowed to $18.9 million in the first quarter from $197.6 million in the fourth quarter.
![Price analysis 5/1: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL Price analysis 5/1: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-05/4e599c0e-8319-42e6-8bd7-880e110e817d.jpg)
Price analysis 5/1: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL
Bitcoin and most major altcoins are witnessing aggressive selling at higher levels, indicating that the bears are trying to make a comeback.
![Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-04/bd3c77d1-bb18-4022-9849-10d95d9e3307.jpg)
Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback
BTC margin markets and futures’ long-to-short indicator show professional traders are unwilling to bet on Bitcoin's price dropping.
![FTX investor Temasek pours $10M in algorithmic currency system Array FTX investor Temasek pours $10M in algorithmic currency system Array](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-05/b812e45e-7f73-4769-ae41-24685b9f00d4.jpg)
FTX investor Temasek pours $10M in algorithmic currency system Array
The new algorithmic currency system aims to provide a more “stable, efficient and scalable” asset than common coins like Bitcoin.
![Bhutan mines Bitcoin with hydropower since BTC price was $5,000 Bhutan mines Bitcoin with hydropower since BTC price was $5,000](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-05/d5b263c0-5d1b-4cbb-9571-85de1a25ee3e.jpg)
Bhutan mines Bitcoin with hydropower since BTC price was $5,000
The Kingdom of Bhutan uses Himalayan rivers to generate energy used to mine Bitcoin, local reports reveal.
![Tokens but not crypto: Nigeria SEC prepares new digital asset rules Tokens but not crypto: Nigeria SEC prepares new digital asset rules](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-05/138ed941-1331-40b0-802a-8937a803d46f.jpg)
Tokens but not crypto: Nigeria SEC prepares new digital asset rules
Nigeria’s securities regulator will take at least 10 months to determine whether to register a digital asset-related company.
![First Mover Asia: Bitcoin, Ether Open Asia’s Trading Week Flat First Mover Asia: Bitcoin, Ether Open Asia’s Trading Week Flat](https://www.coindesk.com/resizer/-OjSqmvuxFShAovf3WcqpZ4gbuE=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BBWQ4O6335EFBCLS4V7BN7DY2U.jpg)
First Mover Asia: Bitcoin, Ether Open Asia’s Trading Week Flat
ALSO: Five CoinDesk journalists offer their takeaways from Consensus 2023. They found an industry still filled with optimism but also realistic about the challenges ahead, most notably, regulatory uncertainty.
![Justin Sun to Reverse $56M Binance Transfer After CZ Warns Against Potential SUI Token Grab Justin Sun to Reverse $56M Binance Transfer After CZ Warns Against Potential SUI Token Grab](https://www.coindesk.com/resizer/Jzq1yN3ySmS1NPljm532l1mk8ms=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/POPKQNELWVFINKJSEZVX2GZCKY.jpg)
Justin Sun to Reverse $56M Binance Transfer After CZ Warns Against Potential SUI Token Grab
"Binance LaunchPool are meant as air drops for our retail users, not just for a few whales," Binance CEO Changpeng Zhao tweeted after Sun transferred $56 million in TUSD to Binance.
![Coinme, Subsidiary and CEO Fined $4M by SEC Over UpToken Offering Coinme, Subsidiary and CEO Fined $4M by SEC Over UpToken Offering](https://www.coindesk.com/resizer/AigwYP_CMQL5G9YnBLOHnDbZjiY=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/CQ5VKGINZFGUFHNWNFAKNWLWYA.jpg)
Coinme, Subsidiary and CEO Fined $4M by SEC Over UpToken Offering
The bitcoin kiosk company, its subsidiary Up Global and the CEO of both entities were accused of conducting "unregistered offers and sales of securities."
![Nigeria's SEC Mulls Allowing Tokenized Equity, Property But Not Crypto: Bloomberg Nigeria's SEC Mulls Allowing Tokenized Equity, Property But Not Crypto: Bloomberg](https://www.coindesk.com/resizer/oBxBvcNID8p7k2nfIlKBOupG8cE=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FEER3A45DFGNFLRH6MKTPZS36U.jpg)
Nigeria's SEC Mulls Allowing Tokenized Equity, Property But Not Crypto: Bloomberg
The regulator is considering applications for digital asset exchanges on a trial basis.
![Jack Dorsey’s nano Bitcoin mining chip heads to prototype Jack Dorsey’s nano Bitcoin mining chip heads to prototype](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-05/b8be0c27-3771-48c3-bcf3-acbe231dfce5.jpg)
Jack Dorsey’s nano Bitcoin mining chip heads to prototype
Block has completed the design of its new prototype ASIC chip that it says will fast-track its plan to bring an “open source” Bitcoin mining rig design to market.