Crypto Update 5/16/22 | Why a New York Bill Barring New Crypto Mines Would Be Bad for Business

With crypto markets continuing to slump and a look what a recent bill on crypto mining might mean for New York’s economy, CoinDesk’s Markets Daily is back with the latest news roundup. This episode is sponsored by Kava and BCB Group. Today's Stories: European shares subdued as weak China data adds to growth concerns | Financial Times Bitcoin Sees 7 Straight Weeks of Losses for First Time   Stock Futures Slip, Putting Wall Street on Course to Extend Declines - WSJ   Fantom Stablecoin DEI Becomes Latest to Lose Dollar Peg Featured Story: Why a New York Bill Barring New Crypto Mines Would Be Bad for Business This episode was edited & produced by Adrian Blust with original music by Adrian Blust & Colin Mealey - Kava lets you mint stablecoins, lend, borrow, earn and swap safely across the world’s biggest crypto assets. Connect to the world's largest cryptocurrencies, ecosystems and financial applications on DeFi’s most trusted, scalable and secure earning platform with kava.io. - BCB Group is the leading business banking partner for the digital assets industry. We provide the rails to move money and a gateway for crypto to FX markets at scale. Our mission is to connect and bank the global crypto industry. Find out more by visiting bcbgroup.com/coindesk. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, TX. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code MarketsDaily15 to get 15% off your pass at www.coindesk.com/consensus2022.