Bitcoin News Roundup for May 20, 2020
Bitcoin's halving busted a lot of miners while Samsung adds blockchain e-gaming. It's CoinDesk's Markets Daily podcast.

Bitcoin's halving busted a lot of miners while Samsung adds blockchain e-gaming. It's CoinDesk's Markets Daily podcast.
This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fundhttps://grayscale.co/coindesk.
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
Today's stories:
Bitcoin Mining Difficulty Drops by 6% In First Adjustment After Halving
Tokensoft Distributes $4M in Equity to Investors Using Ethereum Blockchain
Iran Moves to Restrict Crypto Exchanges Under 'Currency Smuggling' Laws
Blockchain E-Sports TV App to Ship on Samsung S20 Phones in US
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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Pudgy Penguins: A New Blueprint for Tokenized Culture

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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Binance to shift $1 billion user protection fund into bitcoin amid market rout

Binance will convert the stablecoin holdings in its $1 billion Secure Asset Fund for Users to bitcoin over the next 30 days, with plans for regular audits.
What to know:
- Binance will convert the stablecoin holdings in its $1 billion Secure Asset Fund for Users to bitcoin over the next 30 days, with plans for regular audits.
- The exchange has pledged to replenish the fund to $1 billion if bitcoin price swings cause its value to fall below $800 million.
- Binance framed the change as part of its long-term industry-building efforts.









