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Publications
- 🔔 MARKET MOVING NEWS! (18/04/24)
1️⃣ Worldcoin To Have Its Own Layer 2 Blockchain Called World Chain 🔥
Proof-of-humanity project Worldcoin has announced the launch of World Chain - its new layer-2 blockchain initiative designed to prioritise human users, enhance efficiency and foster real-world utility in Web3 applications. The Worldcoin Foundation also stated that users who have been verified as human will "enjoy priority blockspace over bots and some free gas.” This will reportedly also act as a way for developers to reach millions of users with apps focused on real-world utility.
Source
2️⃣ Bored Ape Creator Yuga Labs Just Offloaded NFT Games to Sharpen Focus on 'Otherside' ❓
BAYC creator Yuga Labs has reportedly sold two of its gaming IPs - HV-MTL and Legends of the Mara, along with associated NFT collections to Web3 gaming studio Faraway. Faraway is also adding Yuga Labs’ Chief Gaming Officer Spencer Tucker as its new Chief Product Officer to help maintain continuity as the games continue under a new company. This means that Yuga Labs now has only two gaming properties remaining in-house: metaverse gaming platform Otherside, and the Bored Ape-themed Dookey Dash, which Faraway recently rebuilt as a free-to-play game due out soon.
Source
3️⃣ Binance’s $ 1B Emergency ‘SAFU’ Fund Now Makes Up 3% Of UDSC Supply ⚡️
Crypto exchange Binance is reportedly converting 100% of the assets held in its Secure Asset Fund for Users (SAFU) into Circle’s USDC stablecoin. Notably, this move has resulted in the crypto exchange now holding 3% of USDC’s circulating supply. For context, the exchange’s SAFU is an emergency insurance fund established in 2018 to protect Binance users in extreme situations, such as exchange hacks, where users could be reimbursed for unforeseen losses.
Source
4️⃣ Binance To Restart Operations In India As Compliant FIU-Registered Entity ☄️
According to an Economic Times report, crypto exchange Binance is planning to restart operations in India by paying a $ 2 million fine for non-compliance. After paying the fine, Binance will return to the country as an FIU-registered firm. Notably, this makes Binance the second overseas exchange after KuCoin to mark a return to the country after India’s financial regulatory body blocked access to crypto exchanges for non-compliance.
Source
5️⃣ Sweden Demands $ 90M In Outstanding Tax From Crypto Miners ‼️
According to a recent investigation conducted by the Swedish Tax Agency —Skatteverket, crypto miners in the country owe over $ 90 million in taxes after four years of misappropriations. Notably, the agency investigated the operations of 21 crypto-mining firms between 2020 and 2023.
The investigation revealed that 18 crypto-mining firms filed “misleading or incomplete” information to benefit from tax incentives. This includes crypto firms providing misleading business descriptions to avoid paying value-added tax (VAT) on taxable operations and avoiding paying import taxes on mining equipment or income tax on mining revenue.
Source
- 🔥 Rally Report 🔥
SIACOIN
The price of SC has rallied by 18% in the past 24 hours.
WHY?!
📈 The rally seems to come from general bullishness surrounding decentralised storage coins this week. Specifically, today’s rally seems to be led by speculative trading activity on the South Korean crypto markets.
🔍 Notably, over 80% of SC’s total trading volume today on centralised exchanges comes from the South Korean crypto exchange Upbit.
- 🚨Rally Report🚨
THORCHAIN
The price of RUNE has rallied by 16% in the past 24 hours.
WHY?!
🎉 RUNE’s rally seems to be triggered by the increased adoption of its streaming swaps feature and the long list of recent partnerships.
🚀 According to data from Santiment, THORChain’s development activity has also risen by 27% in the past 24 hours.
- 🚨Rally Report🚨
AXIE INFINITY
The price of AXS has rallied by 15% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen today among Metaverse and P2E tokens.
🗣 The rally also seems to be triggered by a few bullish X posts recently posted by Jeff Zirlin, the co-founder of Axie Infinity.
- 🚨Rally Report🚨
CONFLUX
The price of CFX has rallied by 10% in the past 24 hours.
WHY?!
🎉 His Highness Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, recently announced a free zone for digital assets in Ras Al Khaimah. The rally comes after the Conflux team revealed that they will be supporting the free zone’s digital and virtual asset initiatives.
🚀 Investors are bullish as this marks the blockchain platform’s expansion in the United Arab Emirates (UAE). Conflux is reportedly partnering with NewTribe Capital for its digital and virtual asset initiatives in the UAE.
- 🚨Rally Report🚨
MINA PROTOCOL
The price of MINA has rallied by 70% in the past 24 hours.
WHY?!
🎉 The rally comes shortly after South Korea’s largest crypto exchange Upbit announced the addition of a KRW pairing for MINA. This seems to have triggered a wave of buying activity and FOMO among Korean and global traders.
🚀 The rally also benefits from a larger market rally coming from recent bullish developments surrounding a Bitcoin spot ETF.
https://www.coinbureau.com/deals/trading/bybit-cb/
- 📣📣 MARKET MOVING NEWS! (22/10/23)
1️⃣ Bitcoin Core Developer Steps Back from Lightning Network Over “Hard Dilemma” ⚡️
Security researcher and developer Antoine Riard is reportedly stepping down from the Lightning Network’s development team in order to focus more on Bitcoin core development after he discovered that a new class of replacement cycling attacks was placing Lightning ecosystem in a “perilous position.” These replacement cycling attacks are a new type of attack which targets payment channels on Lightning and allows the attacker to steal funds from a channel participant by exploiting inconsistencies between individual mempools.
Riard stated,
“I think this new class of replacement cycling attacks puts lightning in a very perilous position, where only a sustainable fix can happen at the base-layer, e.g adding a memory-intensive history of all-seen transactions or some consensus upgrade. Deployed mitigations are worth something in face of simple attacks, though I don’t think they’re stopping advanced attackers as said in the first full disclosure mail.”
Source
2️⃣ Bitcoin Dominance Hits Highest Point in Over Two Years 📈
According to a report by The Block, Bitcoin's dominance in the crypto market has increased to over 49%. Notably, this is the highest point for BTC dominance in more than two years. The report states that Bitcoin's dominance has increased at a steady pace, moving from approximately 38% at the start of this year to 48.85% on October 21. This surge in dominance can reportedly be attributed to a year-long rally, with BTC’s price surging by 81% since the beginning of the year.
Rebecca Stevens from The Block Research stated,
"Inflation woes, geopolitical risk, and an increasingly partisan U.S. government have been weighing on investors who are looking to minimise risk. Meanwhile, bitcoin seems closer than ever to getting a spot ETF approval and in a certain sense serves as an ideological hedge to the uncertainty on the world stage, helping it reclaim more dominance in the crypto space."
Source
3️⃣ Crypto Advocates File Amicus Brief to Address Users’ Fourth Amendment Privacy Rights ⚖️
Crypto advocacy group the DeFi Education Fund (DEF) has reportedly filed an amicus brief to the U.S. Court of Appeals for the First Circuit, supporting James Harper’s appeal against the Internal Revenue Service (IRS) as part of a fight to prevent the U.S. government from having unfettered access to a user’s transaction history on cryptocurrency platforms.
For context, Harper was one of the 14,355 Coinbase users whose data was handed over by the crypto exchange to the IRS following a court order in 2017. The DEF urged the court to consider the unique aspects of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment of the U.S. Constitution. It argued that the Fourth Amendment needs to be revised in order to rebalance law enforcement’s investigative powers and an individual’s right to financial privacy in the digital age.
Source
4️⃣ Lightning Network Faces Criticism from Pro-XRP Lawyer John Deaton 🔎
Pro-XRP lawyer John Deaton has reportedly criticised the Bitcoin layer-2 scaling protocol Lightning Network, calling it less effective than the “Spend The Bits” protocol on the XRP Ledger (XRPL). Notably, Deaton’s remarks come shortly after concerns about alleged backdoors in the Bitcoin Lightning Network’s code were brought to light.
In a following X post, Deaton revealed that he is an angel investor in Spend the Bits, as well as its chief legal officer. However, the XRP attorney stated that his comments come due to his “sincere and honest belief” that Spend the Bits is “a superior alternative to the lightning network.”
Source
- 🚨Rally Report🚨
BITCOIN SV
The price of BSV has rallied by 29% in the past 24 hours.
WHY?!
🎉 Crypto exchange Binance announced the relaunch of BSV on its platform through a USD-M BSV Perpetual Contract with 50x leverage earlier today.
🔎 Notably, this has made BSV holders bullish as Binance has not supported the asset since founder CZ and BSV proponent Craig Wright butt heads over the identity of Satoshi back in 2019. The rally has also resulted in over $500,000 in short-position liquidations.
- 🚨Rally Report🚨
TRUST WALLET
The price of TWT has rallied by 6% in the past 24 hours.
WHY?!
🎉 The rally seems to be due to Trust Wallet’s recent rebranding and user interface revamp.
🚀 Notably, the rebranding features a new slogan and a two-colour palette of Trust Blue and Green for its logo, adjusted according to the device’s light and dark modes. As part of the UX/UI update, the team has also introduced improved navigation, providing easy access to features such as wallet switching and token discovery.
https://www.coinbureau.com/deals/trading/bybit-cb/
- 🚨Rally Report🚨
FRAX SHARE
The price of FXS has rallied by 5% in the past 24 hours.
WHY?!
🎉 Frax Finance recently unveiled its sFRAX staking vault which allows FRAX holders to earn yields matching the U.S. Federal Reserve's interest rate on reserve balances, currently around 5.4%.
🚀 Investors seem to be bullish on the new product as over $35 million in deposits were made.
If you want to buy or trade FXS, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
https://www.coinbureau.com/deals/trading/bybit-cb/
- 📣📣 MARKET MOVING NEWS! (11/10/23)
1️⃣ Galxe Replacing 110% Of Funds Users Lost in Recent Front-End Hack, Over $400K 🙌
To reassure its community, the web3 credentials and rewards platform Galxe has announced that it will be refunding just over $396,000 to users affected by the major DNS attack on the platform last week. Notably, the refund amount is 10% above the value of the assets lost in the attack. The compensation will reportedly be paid in USDT on the Polygon network.
The company stated,
“We want to express our deepest gratitude to those who are standing by us during this difficult time,” the company said.
Source
2️⃣ Crypto Exchange WOO to Buy Back Shares From 3AC To ‘Clear Uncertainty’ 💰
Taiwan-based crypto exchange WOO Network has reportedly reached a settlement with 3AC liquidator Teneo to buy back the shares and tokens acquired by the hedge fund as part of WOO’s Series A funding round in November 2021. The firm stated that it wanted to “clear the uncertainty” and that it plans to increase the ownership of all other shareholders proportionally. It also stated that it would be sending the 20 million repurchased crypto tokens to a burn address. While WOO declined to disclose the total value of the repurchased shares and tokens, it had raised a total of $30 million in its Series A back in 2021.
Jack Tan, co-founder of WOO, stated,
“We are pleased to clear the uncertainty related to 3AC from the WOO ecosystem. We proactively collaborated with the liquidators to secure a fair deal to repurchase our shares and both vested and vesting tokens from 3AC's estate. The past 18 months have seen a concentration of bad news hit our industry from large-scale failures to more overzealous regulators. A thorough cleansing of the system has taken place and we are looking forward to rebuilding with our partners and team.”
Source
3️⃣ Grocery Chain Trader Joe’s Sues Unaffiliated Crypto Project That’s Using Its Name ⚖️
U.S. supermarket chain Trader Joe’s is reportedly suing decentralised exchange (DEX) Trader Joe for federal trademark infringement. Interestingly, this is the grocery chain’s second attempt at shutting down the DeFi platform. Just last year, Trader Joe’s filed a complaint with the U.N.’s World Intellectual Property Organization (WIPO). However, WIPO ruled in favour of the DeFi platform at that time after the founder Cheng Chieh Liu asserted that the DeFi platform was named after his brother.
In its fresh lawsuit, the grocery chain is seeking all profits from the Trader Joe DeFi platform as damages, plus additional payments to “adequately compensate” the brand. Addtionally, it also wants further damages to compensate the company for its “erroneous” loss last year in the United Nations’ court.
Source
4️⃣ Caroline Ellison: Sam Bankman-Fried Told Me to Take Billions From FTX Customers ❗️
In her recent testimony before the court, the former Alameda Research CEO and star witness Caroline Ellison told the jury that FTX founder Sam Bankman-Fried directed her to commit crimes. Specifically, she told the courtroom that Bankman-Fried was the one "who set up the system to allow Alameda to take money." She also admitted to sending balance sheets to banks at Bankman-Fried’s direction. These balance sheets were reportedly tailored to make Alameda’s position look less risky than it really was.
Source
5️⃣ JPMorgan Debuts Blockchain Collateral Settlement in BlackRock-Barclays Trade 🏦
According to a Bloomberg report, JPMorgan Chase & Co. has carried out its first live blockchain-based collateral settlement transaction involving BlackRock and Barclays. Specifically, BlackRock used JPMorgan’s Ethereum-based Onyx blockchain and its Tokenized Collateral Network (TCN) to turn shares in one of its money market funds into digital tokens. These tokens were then transferred to Barclays Plc as collateral for an over-the-counter derivatives trade between the two institutions.
Source
- 🚨Rally Report🚨
TRUST WALLET TOKEN
The price of TWT has rallied by 9% in the past 24 hours.
WHY?!
🎉 The rally seems to be driven by speculation over an upcoming launch.
🚀 Specifically, investors are bullish due to a cryptic tweet recently posted by the Trust Wallet team. The tweet contained the word “Freedom Foundations”. Investors speculate this could be hinting at an upcoming security update for its wallet app, or a new product such as a hardware wallet, or even an additional utility for the TWT token.
If you want to buy or trade TWT, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
https://www.coinbureau.com/deals/trading/bybit-cb/
- 🚨Rally Report🚨
CHILIZ
The price of CHZ has rallied by 7% in the past 24 hours.
WHY?!
🎉 Investors are bullish after UK football club Tottenham Hotspur announced it was going to issue a fan token called SPURS on the Chiliz platform.
🚀 Notably, the team has stated that the fan tokens will be integrated into its own loyalty program and mobile app in the future. The tokens, which are scheduled to be sold on October 4th at $2 per token, will also be distributed for free to season ticket holders and club members.
If you want to buy or trade CHZ, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
- 🚨Rally Report🚨
INTERNET COMPUTER
The price of ICP has rallied by 5% in the past 24 hours.
WHY?!
🎉 The DFINITY Foundation, a major contributor to the Internet Computer Protocol (ICP), has announced the launch of ‘ICP Asia Alliance’ and a $20 million grant fund.
🚀 Investors are bullish as the newly formed ICP Asia Alliance is expected to lead the vibrant web3 and AI ecosystem in Asia. This includes promoting the adoption of the Internet Computer blockchain.
If you want to buy or trade ICP, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
👉➡️ https://www.coinbureau.com/deals/trading/kucoin/
- 📣📣 MARKET MOVING NEWS! (27/09/23)
1️⃣ Mixin Network Offers $20M Bug Bounty To Hackers In $200M Hack 💰
Cross-chain protocol Mixin Network has reportedly sent an on-chain message to the attacker behind the recent $200 million exploit, offering a $20 million “bug bounty reward" in exchange for the return of user funds.
The message reads,
“Most of our platform assets were users’, and we hope you can refund them. You can keep $20 million of the assets as a BUG Bounty Reward for the BUG. Contact us via bug@mixin.one for the reward details.”
Source
2️⃣ Binance Exits Russia With Sale to Just-Launched Exchange 🇷🇺
Crypto exchange Binance has reportedly agreed to sell the entirety of its Russia business to CommEX - a crypto exchange that was officially launched on Tuesday. Noah Perlman, Binance's chief compliance officer, has stated that the move comes as a result of recognising that “operating in Russia is not compatible with Binance's compliance strategy." While the financial details of the deal remain unknown, Binance spokesperson Simon Matthews has clarified that “neither Binance nor its executives have shares or profit-sharing with CommEX.”
Source
3️⃣ SEC Extends Ark, Global X ETF Deadlines as Government Shutdown Looms 🔎
The U.S. Securities and Exchange Commission (SEC) is reportedly extending its deadline to make a decision on the approval or rejection of spot bitcoin ETF listings by Ark 21 Shares and Global X. Notably, the extension comes at a time when the federal government is bracing for a potential shutdown brought about by a budget impasse in Congress. The new deadline set by the SEC is Jan. 10th.
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4️⃣ U.S. Treasury Goes After Ethereum Wallet Used By Sinaloa Cartel For Fentanyl Trafficking 👮♂️
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has reportedly sanctioned an Ethereum wallet used by Jimenez Castro - a member of Mexico's Sinaloa Cartel who reportedly moved funds connected to the smuggling of fentanyl into the U.S. via the wallet.
OFAC stated,
“[Jimenez Castro] reports directly to a Chapitos deputy and operates a money laundering organisation that uses virtual currency and wire transfers, among other methods, to transfer proceeds from illicit fentanyl sales in the United States to Sinaloa Cartel leaders in Mexico. Jimenez Castro has directed U.S.-based couriers to pick up cash in the United States and deposit it into various virtual currency wallets for payment directly to the Chapitos and for reinvestment in fentanyl production."
Source
5️⃣ Security Platform Immunefi Launches Smart Contract Bug Bounty Vaults ❗️
Bug bounty platform Immunefi has announced the launch of Vault Systems - a smart contract system that allows developers to safely deposit funds earmarked for paying hackers or researchers for reporting vulnerabilities in their code. The funds only get released to a hacker when a vulnerability report has been verified. Notably, the new system is expected to improve trust and boost participation from the community.
Immunefi founder and CEO Mitchell Amador stated,
“We're releasing the first version of our Vaults System, primarily focused on proof-of-assets and providing a frictionless payment experience for bounty programs. This allows us to take a responsible first step, meticulously test everything and ensure that our Vaults work at the infrastructure level.”
Source
- GM GM Frens! Wondering about Phaver's next moves? 🚀
Join Community Call #17 to discuss the upcoming steps... 👀
⏰ Thursday, Sep 28, 3pm UTC
📍 Phaver Discord Stage
Add to calendar and join the raffle at: https://link3.to/e/lZrwJm
A lucky 10 will win 1000 Phaver Points each 👑
Who's in? 💕
https://link3.to
- 📣📣 MARKET MOVING NEWS! (24/09/23)
1️⃣ OpenSea Tells Users to Rotate API Keys After Third-Party Security Breach ❗️
According to a recent email sent to select OpenSea users, one of the NFT marketplace’s third-party vendors “experienced a security incident that may have exposed information” regarding the API keys of the users who received the email. While the company stated that the security incident was not expected to affect any programs utilising an OpenSea API key, it announced plans to sunset existing keys by Oct. 2. Notably, the news comes shortly after crypto analytics firm Nansen suffered a similar breach which impacted 6.8% of its users.
Source
2️⃣ FTX’s Former External Legal Team Disputes Involvement in Fraud Allegations ⚖️
United States-based law firm Fenwick & West, which formerly represented crypto exchange FTX, has reportedly filed a motion to dismiss the recent class-action lawsuit which accuses the law firm of assisting FTX’s alleged fraudulent activities.
The filing reads,
“It is black-letter law that an attorney cannot be held liable for conspiracy or aiding and abetting a client’s wrong ‘as long as [his] conduct falls within the scope of the representation of the client.’”
Source
3️⃣ Terra Classic Community Elects to Cease USTC Minting ❌
The Terra Classic community has reportedly passed a proposal to cease all minting and reminting activities related to TerraUSD Classic (USTC) to reestablish a stable peg between USTC and the United States dollar. The proposal passed with the community voting 59% in favour and 40% opposing the change.
Source
4️⃣ European Crypto Asset Manager CoinShares Starts US Hedge Fund Division 🇺🇸
Crypto asset manager CoinShares is reportedly establishing a hedge fund unit for qualified U.S. investors. Notably, the move marks the firm’s expansion outside its European base. CEO Jean-Marie Mognetti has described the move as "a natural progression" in light of the "changing macro environment prominently marked by interest rates and inflation."
Mognetti stated,
“We want to be a global leader. We tend to be contrarian by nature. When we started doing crypto in 2012, 2013, nobody believed in what we were doing. So when everybody starts to lose faith in US markets, I think it’s probably time to pay attention to the US.”
Source
- 📣📣 MARKET MOVING NEWS! (22/09/23)
1️⃣ FTX Sues Former Employees of Hong Kong Affiliate, Seeks $157 Million 🔎
Bankrupt crypto exchange FTX has reportedly sued former employees of its Hong Kong affiliate ‘Salameda’ for allegedly fraudulently transferring assets worth about $157.3 million in the hours before the exchange filed for bankruptcy. Notably, the filing states that the defendants withdrew the assets during the 90-day ‘Preference Period’ before FTX filed for Chapter 11 bankruptcy protection in November.
Source
2️⃣ Activity Involving Binance Wallet Sees $840,000 In Abnormally High Transaction Fees 😱
According to on-chain data, a wallet address belonging to crypto exchange Binance has spent 530 Ether (worth $843,797) in gas fees in the past 24 hours. Notably, the wallet executed 140,000 token transfers and consistently paid fees exceeding 300 gwei ($11), even though the network’s average remained close to 10 gwei. This reportedly led to a significant yet temporary increase in gas fees on the network.
Source
3️⃣ Judges Deny Sam Bankman-Fried’s Appeal For Early Release ❌
A three-judge panel from the U.S. Court of Appeals for the Second Circuit has reportedly denied former FTX CEO Sam Bankman-Fried's appeal to be released from jail ahead of his trial which is set to begin on Oct. 3 in a federal courtroom in Manhattan.
The order stated,
“We reject [Bankman-Fried’s] contention that the district court failed to consider a less restrictive alternative to detention. The record shows that the district court considered all of the relevant factors, including the Defendant-Appellant’s course of conduct over the time that had required the district court to repeatedly tighten the conditions of release.”
Source
4️⃣ Crypto Exchange Binance, CEO Zhao Ask Court to Dismiss SEC Suit ⚖️
Binance Holdings Ltd. along with its U.S. affiliate and CEO Changpeng “CZ” Zhao has reportedly filed a petition seeking to dismiss a lawsuit filed against them by the US Securities and Exchange Commission. The 60-page petition claimed that the agency overstepped its authority in suing them and that it hadn't "plausibly alleged" the various securities-related violations it charged the exchange with.
The filing reads,
"Indeed, since 2019, Congress has considered more than a dozen proposals that would provide a coherent and workable framework for crypto assets and their trading platforms. Critically, none of those proposals would confer sole regulatory jurisdiction over the crypto industry to the SEC. Despite this, the SEC now seeks to expand its authority and filed this lawsuit, asserting claims against Binance Holdings Limited ('BHL') and Changpeng Zhao, among others."
Source
5️⃣ Financial Regulator Issues 'Final Warning' to Non-Compliant UK Crypto Firms ❗️
In a public letter published by the United Kingdom’s Financial Conduct Authority (FCA), the regulator expressed its concern over the lack of engagement by crypto firms that will soon be subject to new marketing rules. Notably, it warned that the rules, which take effect next month, will severely restrict how financial promotions from “unauthorized and unregistered crypto businesses” can be communicated. The regulator noted that only 24 of 150+ firms have replied to a survey sent by the regulator relating to the new rules.
Source
- I just voted "Yes" on "Stargate New Oracle Configuration: Google Cloud Oracle" https://snapshot.org/#/stgdao.eth/proposal/0x13e489cc2b60e4b57876266b70e15d77d6ac86a23817dffba26043e69e3bf91e #Snapshot
- 📣📣 MARKET MOVING NEWS! (19/09/23)
1️⃣ SEC Fails to Win Immediate Inspection of Binance US Software ❌
The United States Securities and Exchange Commission (SEC) has reportedly failed to win immediate access to Binance.US’s software with the federal magistrate judge ruling over the matter stating that he isn’t “inclined to allow the inspection at this time.” Instead, the judge suggested the SEC come up with more tailored requests and speak with additional witnesses.
Source
2️⃣ Citi Expands Digital Asset Services with Bond Custody, Tokenised Deposits 🏦
Global investment bank Citigroup is reportedly expanding its digital asset services with a new custodian partnership and a pilot program for tokenized deposits. Specifically, it announced the launch of ‘Citi Token Services’ - a private, permissioned blockchain that offers cross-border payments, liquidity and automated trade finance solutions for its institutional clients.
The bank stated that the new services “will integrate tokenised deposits and smart contracts into Citi’s global network.” It also became the first digital custodian for the BondbloX Bond Exchange – an entity regulated by the Monetary Authority of Singapore and described as the world’s first fractional bond exchange that uses atomic settlement and DLT. The partnership will reportedly grant Citi's eligible clients access to BBX's fractionalised bond trading.
Source
3️⃣ FTX Bankruptcy Estate Sues Sam Bankman-Fried's Parents Over Millions in ‘Misappropriated’ Funds ⚖️
The bankruptcy estate of FTX has reportedly taken legal action against former CEO Sam Bankman-Fried's parents - Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds.” According to the filing, the debtors of FTX and its affiliated entity, Alameda Research, are also seeking to recover damages attributed to breaches of fiduciary duties and other alleged misconduct.
Specifically, the lawsuit argues that Bankman and Fried were “very much involved” in the FTX business from inception to collapse, and allegedly exploited their access and influence within the FTX empire to enrich themselves at the expense of the debtors. The filing reads,
"Bankman’s command of tax law and unique understanding of the FTX Group’s muddled corporate structure allowed him to facilitate the transfer of a cash gift totalling $10 million to himself and Fried consisting of Alameda Ltd. funds."
Source
4️⃣ New York Regulator Seeks Tougher Norms for Adding, De-Listing Crypto Coins 🔎
Yesterday, the New York Department of Financial Services proposed updated guidelines for crypto exchanges. Specifically, the new guidelines seek to impose stricter rules on the listing and delisting of crypto tokens from exchanges. The guidelines also updated the regulator’s list of greenlisted coins which licensees can list or custody without further regulatory hurdles. Notably, the list currently includes bitcoin (BTC), ether (ETH), and stablecoins issued by PayPal and Gemini.
Source
5️⃣ Canto, Astar Blockchains Plan Expansion to Ethereum Ecosystem as Layer 2s 🚀
Cosmos-native layer-1 blockchain Canto and Polkadot-native layer-1 blockchain Astar have both announced plans to expand on the Ethereum network. While Canto announced that it will be ‘migrating’ to Ethereum as a layer 2 zero-knowledge rollup, Astar announced that it will be ‘expanding’ beyond the Polkadot ecosystem to Ethereum. Both projects have announced that they will be using Polygon’s Chain Development Kit to build their layer-2 ZK chains.
Source
https://www.binance.us/
- 📣📣 MARKET MOVING NEWS! (18/09/23)
1️⃣ Hong Kong Probe into Crypto Exchanges JPEX Results in Arrest 🔎
Dubai-based crypto exchange JPEX has blamed regulators and “third-party market makers” for a liquidity crisis that has seen the platform recently hike withdrawal fees and suspend certain operations.
The exchange stated,
“Recently, due to the unfair treatment by relevant institutions in Hong Kong towards JPEX, a cryptocurrency trading platform, and a series of negative news, our partnered third-party market makers have maliciously frozen funds. They demanded more information from the platform for negotiation, restricting our liquidity and significantly increasing our daily operating costs, leading to operational difficulties.”
Meanwhile, the Hong Kong authorities' investigation into the liquidity crisis of JPEX has led to the arrest of Joseph Lam (Lin Zuo) - a Hong Kong-based social media influencer, after their involvement with the exchange was exposed.
Source
2️⃣ First Celebrities Settle Lawsuits Over FTX Deals 🤝
Three celebrities - NFL quarterback Trevor Lawrence, Youtubers Tom Nash and Kevin Paffrath – have reportedly settled a lawsuit over alleged inadequate compensation disclosure in their promotions for the now-defunct crypto exchange FTX. While the terms of the deal have not been disclosed, other celebrity defendants in the class-action lawsuit include former NFL quarterback Tom Brady, his ex-wife Gisele Bundchen, former NBA player Shaquille O’Neill, tennis star Naomi Osaka, and Youtubers such as Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre and Erika Kullberg.
Source
3️⃣ US Lawmakers Advance Legislation Blocking the Digital Dollar ⚖️
According to an announcement from chairman Patrick McHenry, the U.S. House Financial Services Committee is moving forward with legislation aimed at preventing the issuance of a central bank digital currency. Specifically, the committee is marking up two bills – the Digital Dollar Pilot Prevention Act (DDPPA) and an amendment to the Federal Reserve Act (FRA) - on September 20th. Markups are sessions in which lawmakers discuss the details of a bill. It is a crucial step before legislation moves to the House floor.
Notably, the DDPPA prohibits the Federal Reserve from initiating pilot programs to test CBDCs without approval from Congress, while the amendment to the Federal Reserve Act prohibits Fed banks from offering certain products or services directly to an individual, along with prohibiting the use of CBDCs for monetary policy and for other purposes.
Source
4️⃣ Hong Kong Regulator: Crypto Firms Cannot Claim to Be 'Banks' ❗️
Hong Kong’s central bank - the Hong Kong Monetary Authority (HKMA) - has reportedly issued guidance to crypto firms warning them of potentially misleading customers by using terms like “crypto bank” or “digital asset bank.” Specifically, HKMA stated that the usage of such terms along with the characterisation of funds as “deposits,” and the promotion of savings plans with low risk and high return could run afoul of Hong Kong’s banking ordinance. The authority prohibited such usage unless the crypto firms were an authorised institution. Notably, the warning comes at a time when the Hong Kong authorities are investigating the ongoing liquidity crisis at JPEX.
Source
- 📣📣 MARKET MOVING NEWS! (09/09/23)
1️⃣ Ripple Acquires Fortress Trust, Which Will Use Ripple Payments Tech for FortressPay 🤝
Crypto payments firm Ripple has reportedly acquired Nevada-based chartered trust company Fortress Trust as part of its mission to expand its portfolio of regulatory licenses in the United States. Fortress Trust provides regulatory and technology infrastructure for blockchain companies and holds a Nevada Trust license that allows it to custody financial assets. Ripple has stated that it plans to invest in Fortress’ parent company, Fortress Blockchain Technologies, and also its affiliated firm FortressPay services.
Ripple CEO Brad Garlinghouse stated,
“As an early investor in Fortress Blockchain Technologies, we’ve had a chance to get to know the team, its vision and technology. Since their launch in 2021, they’ve built an impressive business with recurring revenue and a strong roster of both crypto-native and new-to-crypto customers.”
Source
2️⃣ Taiwan Crypto Watchdog to Issue 10 Guiding Principles for Virtual Assets in September 🇹🇼
According to local media reports, Taiwan's Financial Supervisory Commission for Virtual Currency Management is planning to issue 10 guiding principles for virtual asset providers in September. The guidelines will reportedly ensure that crypto businesses establish review mechanisms, implement proper asset segregation practices, and comply with anti-money laundering laws. The guideline will also reportedly prohibit unregistered overseas firms from soliciting business in the country.
Source
3️⃣ Apple Secures Rights to Book on Sam Bankman-Fried For $5M ❗️
According to a report from The Ankler, multinational tech giant Apple has paid $5 million to secure the rights to Michael Lewis’ upcoming book on former FTX CEO Sam “SBF” Bankman-Fried. The book, which is titled ‘Going Infinite: The Rise and Fall of a New Tycoon,’ is set to be released on Oct. 3, which is also the start of SBF’s criminal trial in New York.
Source
4️⃣ Binance NFT Marketplace Ends Support for Polygon in Effort to ‘Streamline' ❌
According to a recent blog post, crypto exchange Binance’s NFT marketplace will end support for the Polygon Network from Sept. 26 at 6:00 UTC. It stated that the move was made after “careful consideration and evaluation” and was part of its efforts to “streamline product offerings” on the platform. Binance urged users to withdraw their NFTs via the Polygon Network by Dec. 31, 2024, at 23:59 UTC. Notably, the announcement came just after CEO Changepeng Zhao rejected "rumors" about its executives leaving the company or that the firm was winding down any projects.
Source
5️⃣ SEC Urges Court to Grant Ripple Labs Appeal Citing ‘Knotty Legal Problems ⚖️
The U.S. Securities and Exchange Commission (SEC) has reportedly submitted a filing that urges the court to grant Ripple’s motion to appeal the recent ruling that deemed the XRP token to not be a security when sold to retail investors.
The SEC stated,
"The SEC, like the Court, has an institutional interest in the most efficient ultimate resolution of this litigation. Defendants’ interest, by contrast, is to delay an ultimate resolution so that they may continue freely selling XRP into public markets without the disclosures that come with registration, to the tune of over $3 billion net ODL sales since 2020 alone."
Source
- 📣📣 COIN BUREAU NEWSFLASH! – (08/09/23)
Here are some of today’s most important headlines:
1️⃣ Boss of Failed Crypto Exchange Gets 11,000-Year Sentence 👮♂️
A Turkish court has reportedly sentenced Thodex founder Faruk Fatih Ozer, his sister Serap Özer and his brother Güven Özer to 11,196 years, 10 months and 15 days in prison after finding them guilty of several counts of crime including aggravated fraud, money laundering and leading a criminal organisation.
At the final hearing, Ozer reportedly stated in court,
“I am smart enough to lead any institution on Earth. That is evident in this company I established at the age of 22. I wouldn’t have acted so amateurishly if this were a criminal organisation.”
Source
2️⃣ Ex-FTX Executive Ryan Salame Could Forfeit null.5B as Part of Guilty Plea ⚖️
Ryan Salame, the FTX executive who played a key role in the exchange’s political fundraising operations, will reportedly forfeit null.5 billion after pleading guilty to federal criminal charges including the conspiracy to make unlawful political contributions, as well as conspiracy to operate an unlicensed money transmitting business in a New York federal court on Thursday afternoon.
According to a DOJ filing, Salame has stated that he will fulfil his null.5B forfeiture order by paying roughly $6 million in penalties to the U.S. government, $5 million to FTX debtors and surrendering two properties in Massachusetts, ownership of the East Rood Farm Corporation, and a “2021 Porsche automobile” as well. Salame has also currently been released under a null million bond.
Source
3️⃣ CFTC Commissioner Caroline Pham Proposes Pilot Program to Regulate Crypto 💡
During an event hosted by the libertarian think tank ‘the Cato Institute’, CFTC Commissioner Caroline Pham proposed a limited pilot program to regulate cryptocurrencies. She suggested that the program would be similar to regulatory sandboxes previously introduced at the state level.
Her statement reads,
“A pilot program can create a framework for emerging technologies and market structures under our existing laws and regulations. It is my hope that a pilot to test, gather data, and develop a pragmatic approach to tokenisation can ensure we continue to uphold our mandate to fostering open, transparent, competitive and financially sound markets [….] In line with our previous pilot initiatives, I am optimistic that this approach will ensure the integrity of our markets and impartial access, foster liquidity and competition, address potential conflicts and risks, and prevent fraud, abusive practices, and manipulation.”
Source
4️⃣ FBI Says North Korea’s Lazarus Group Was Behind $41 Million Stake Hack 🔎
According to a statement released on Thursday by the FBI, the recent $41 million hack of crypto gambling site Stake was carried out by the North Korean Lazarus Group. The FBI claimed that the Lazarus Group’s digital fingerprints also connected them to other recent heists, such as the $100 million theft from Atomic Wallet in June and the $60 million stolen from projects Aplhapo and CoinsPaid in July.
Source
5️⃣ CTFC Cracks Down on DeFi Protocols Opyn, Zeroex and Deridex 🥶
The United States Commodity Futures Trading Commission (CFTC) is reportedly taking regulatory action against three DeFi protocols- Opyn, ZeroEx and Deridex- for allegedly failing to register various derivatives trading offerings. The regulator has ordered Opyn, ZeroEx, and Deridex to cease those violations and pay penalties of $250,000, $200,000, and $100,000, respectively. The companies have also reportedly agreed to these terms to settle the charges.
Source
6️⃣ Crypto Firm LBRY to Challenge Ruling It Violated U.S. Securities Law ❗️
Blockchain-based file-sharing and payment network LBRY has reportedly submitted a notice of appeal to the United States Court of Appeals for the First Circuit. This means that LBRY has decided to fight against the judgment that ordered it to pay a civil penalty and barred it from participating in unregistered offerings of crypto asset securities in the future.
Source
- I just minted OAK: One Thousand Local Currencies, celebrating the start of @BuildOnBase bringing billions of people onchain.
It’s Onchain Summer.
https://onchainsummer.xyz/oak
- I just voted "yes" on "Stargate Foundation 12-month Budget Proposal" https://snapshot.org/#/stgdao.eth/proposal/0x2eff53c9e9f0bf19a98345d1d32103ec0ec859d81978eecacb38db16be33b94b #Snapshot
- 📣📣 COIN BUREAU NEWSFLASH! – (02/09/23)
Here are some of today’s most important headlines:
1️⃣ MakerDAO Should Use Solana’s Code to Build Its New Blockchain, Co-Founder Says 🚀
In a recently submitted proposal, MakerDAO co-founder Rune Christensen suggested that “NewChain”- the platform’s future native standalone blockchain should be built using the codebase that underpins the Solana blockchain. Notably, “NewChain,” is part of the fifth and final phase of the MakerDAO “Endgame” upgrade which is designed to create a series of independent subDAOs that live within the larger ecosystem. Christensen stated that the codebase’s “technical quality,” its “resilience by having gone through the FTX blowup” and already functioning examples make Solana “the most promising codebase to explore further.”
https://www.coindesk.com/tech/2023/09/01/makerdao-should-use-solanas-code-to-build-its-new-blockchain-co-founder-says
2️⃣ China Court Declares Virtual Assets Legal Properties Protected By Law 🇨🇳
The People’s Courts of the People’s Republic of China has published a new report titled “Identification of the Property Attributes of Virtual Currency and Disposal of Property Involved in the Case.”
The report addresses the legality of virtual assets and analyses the criminal law attributes of virtual assets. Notably, the court acknowledged in its report that virtual assets under the current legal policy framework have economic attributes and thus can be classified as property.
The report also added suggestions to deal with crimes involving virtual assets and noted that since the money and property involved in the case cannot be confiscated, it should be based on the unification of criminal and civil law.
https://cointelegraph.com/news/china-court-declares-virtual-assets-as-legal-properties-protected-by-law-report
3️⃣ Ripple Says Court Should Deny SEC Request for Appeal ⚖️
In a new filing made yesterday, lawyers representing Ripple Labs have argued that the U.S. Securities and Exchange Commission (SEC) hasn't made enough of a case to warrant an appeals court intervention in its ongoing legal fight with the company.
Specifically, the filing stated that the SEC’s grounds for an appeal largely rested on “dissatisfaction” with the judge’s decision and pointed out that the “exceptional circumstances required for interlocutory appeal” were absent in the case. They called on the judge to deny any request for an appeal or stay.
https://www.theblock.co/post/248839/ripple-says-court-should-deny-sec-request-for-appeal
4️⃣ US, UK Intel Agencies Warn Against New Crypto Malware 🔎
U.S. and U.K. intelligence agencies have published a joint report warning users about a new malware called “Infamous Chisel,” which targets Android devices. The Infamous Chisel malware which is suspected to be of Russian origins is being used to target cryptocurrency wallet and exchange applications, among other data. The malware also targets the Android Keystore system that lets users store private keys, and every file in the directories is extracted.
https://cointelegraph.com/news/fbi-report-warns-against-infamous-chisel-new-malware-targeting-crypto-wallets
- 🎉🌿Just minted my Lens Garden NFT! Proud to be part of this innovative project. Join our Discord community: discord.gg/lensgardennft 🎉🌿 #lensgarden #lens #web3 #nft #lensgardennft
via @lensgardennft built by: @aliii @hascoin
- 📣📣 COIN BUREAU NEWSFLASH! – (01/09/23)
Here are some of today’s most important headlines:
1️⃣ Aerodrome Fanatics Deposit $150M to Base Blockchain on First Day 📈
Aerodrome, a fork of Velodrome developed in collaboration with Base developers, reportedly attracted over $150 million in TVL just a day after going live. Notably, the deposits which are likely driven by the liquidity mining incentives offered by the platform, bumped Base Blockchain’s DeFi ecosystem by 80% in terms of locked value. Aerodrome has stated that it seeks to act as a “business development protocol” for the Base ecosystem, supporting projects as they launch, onboarding new projects and tokens, and generating liquidity for the ecosystem.
https://www.coindesk.com/tech/2023/08/31/aerodrome-fanatics-deposit-150m-to-base-blockchain-on-first-day
2️⃣ Swift Says Interoperability Experiment with Chainlink’s CCIP Was Successful 🤩
According to a recent press release, the Interbank messaging system Swift has successfully used Web3 services platform Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to transfer tokenised value across multiple private and public blockchains in recent experiments.
Tom Zschach, the chief innovation officer at Swift stated,
"For tokenisation to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem. Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenisation and unlocking its potential."
https://www.theblock.co/post/248293/swift-chainlink-ccip
3️⃣ PancakeSwap Expands to Coinbase-Incubated Base Network 🚀
PancakeSwap, the leading DEX on the BNB Chain, has reportedly launched on the Coinbase-incubated Ethereum layer-2 network Base. This makes Base the latest addition to PancakeSwap’s ongoing multi-chain expansion. The team behind the project has stated that they wish to leverage Coinbase's ecosystem, which reportedly “brings the power of mainstream crypto adoption” and helps in building a “more inclusive DeFi landscape.”
https://decrypt.co/154426/pancakeswap-expands-coinbase-incubated-base-network
4️⃣ OKX Plans to Enter India, Hire Local Employees for Web3 Exploration 🇮🇳
According to a CoinDesk report, crypto exchange OKX is planning to enter India and recruit local employees to explore potential Web3 applications. OKX chief marketing officer Haider Rafique stated that the company plans to scale up its wallet services “exponentially” by tapping into India’s developer community. He also revealed that there are currently 200,000 OKX Wallet users in India, which equates to barely 5% of India’s Web3 users.
On the country’s treatment of crypto, Rafique stated,
"You have to kind of separate Web3 from CeFi and I think regulators are starting to do that too. They're more concerned about venues that have fiat on-ramps, which we do but we don't offer it in India. Once India comes up with a regulatory framework for crypto then we would like to be the front runners."
https://www.coindesk.com/business/2023/09/01/okx-planning-web3-foray-into-india-chief-marketing-officer-says/
5️⃣ 'Altcoins' Central to Hong Kong Crypto Firm HashKey’s First Liquid Fund 💰
According to a Reuters report, digital assets financial services firm HashKey Capital's Hong Kong-regulated fund will invest less than half of the fund in bitcoin (BTC) and ether (ETH), and place more emphasis on its altcoin portfolio. The fund, which opened for business Friday, has reportedly attracted several high-net-worth individuals and investment firms serving rich Asian families as clients.
https://www.reuters.com/markets/currencies/altcoins-central-hong-kong-crypto-firm-hashkeys-first-liquid-fund-2023-08-31/
- 📣📣 COIN BUREAU NEWSFLASH! – (29/08/23)
Here are some of today’s most important headlines:
1️⃣ Crypto Giant Binance Considers Russia Exit 🧐
According to a Wall Street Journal report, crypto exchange Binance is considering a withdrawal of its services from Russia, “including a full exit.” The move comes as a result of sanctions from countries including the United States. Notably, Binance just recently removed certain sanctioned Russian financial institutions from available payment options on its peer-to-peer platform.
https://www.wsj.com/livecoverage/stock-market-today-dow-jones-08-28-2023/card/crypto-giant-binance-considers-russia-exit-lz69D5N6RzLEtlcyKYYT
2️⃣ DCG Reaches Agreement with Genesis Creditors to Deliver Recoveries of Up To 90% 🤝
According to recent court filings, Digital Currency Group (DCG)- the parent company of bankrupt trading firm Genesis Global Holdco- has reached an in-principle deal with Genesis creditors to resolve the claims brought up in Genesis' bankruptcy.
According to the filing, Genesis currently holds liabilities including the payment of about $630 million in unsecured loans due in May 2023 and a null.1 billion unsecured promissory note due in 2032. Under the in-principle deal, DCG plans to take up new debt facilities and a repayment agreement. This could result in the recovery of 70%-90% in USD equivalent for unsecured creditors and 65%-90% recovery on an in-kind basis depending on the denomination of the digital asset.
https://www.theblock.co/post/247809/dcg-genesis-recoveries
3️⃣ Solana-Based Automation Startup Clockwork to Shut Down ❌
Nick Garfield, the founder of the Multicoin Capital-backed Solana-based automation tooling startup Clockwork, has announced that the team is planning to turn off key infrastructure for the protocol on October 31st due to the project’s “limited commercial upside.” This will see the project turn off its nodes on devnet and mainnet.
Garfield has stated that he is yet to decide between fully shutting down and returning VC money or pivoting the company in a new direction. He also encouraged Clockwork’s users to fork its open-source code and build their own versions of the project, even once the team pulls support.
https://www.coindesk.com/business/2023/08/28/solana-based-automation-startup-clockwork-to-shut-down
4️⃣ Binance Says It ‘Continues to Serve’ Belgian Users Via Poland Entity 🔎
Crypto exchange giant Binance is reportedly using its Poland unit to continue serving its customers in Belgium after Belgium’s Financial Services and Markets Authority ordered Binance to halt virtual currency services in the country back in June. Belgian users must accept Binance Poland's Terms of Use and resubmit know-your-customer documentation as a part of Polish regulatory requirements to keep using the Binance platform. Belgian customers who do not do so will be put into “withdrawals-only” mode.
https://cointelegraph.com/news/binance-continues-serving-belgian-users-shifts-poland-entity
5️⃣ SEC Charges Podcaster in First Unregistered Securities Sales Claim Against NFT Offering ⚖️
The United States Securities and Exchange Commission (SEC) has reportedly charged Impact Theory, a Los Angeles-based media and entertainment company, with conducting unregistered securities sales. Specifically, the charges relate to the $30 million raised by the entity via the sale of NFTs between October and December 2021. Impact Theory is co-founded by Tom Bilyeu and produces entertainment and educational content, including several podcasts.
The SEC stated,
“[The company] encouraged potential investors to view the purchase of a Founders Key as an investment into the business, stating that investors would profit from their purchases if Impact Theory was successful in its efforts. The order finds that the NFTs offered and sold to investors were investment contracts and therefore securities."
https://cointelegraph.com/news/sec-charges-podcaster-first-unregistered-securities-sales-claim-against-nft-offering
- 📣📣 COIN BUREAU NEWSFLASH! – (28/08/23)
Here are some of today’s most important headlines:
1️⃣ Balancer Exploited in Nearly $900k After Vulnerability Warning 🥶
Yesterday, decentralised exchange Balancer confirmed that it lost over $900K after being hit by an exploit over the weekend. Notably, the exploit comes nearly a week after the team disclosed a critical vulnerability affecting some of its V2 pools.
The team stated,
“Balancer is aware of an exploit related to the vulnerability below (as reported on Aug. 22). Mitigation procedures have drastically reduced risks, but we are unable to pause affected pools.”
https://cointelegraph.com/news/balancer-exploited-900k-after-vulnerability-warning
2️⃣ OnlyFans Parent Company Reports Ether Holdings, Impairment Loss 📈
In an Aug. 24 financial filing made to the UK corporate registry, Fenix International- the UK-based parent company of content subscription giant OnlyFans revealed that it invested a portion of its working capital into Ether while reporting revenues of over null billion for the first time. The filing shows that it invested nearly $20 million into ETH. However, the company also reported a total impairment loss of $8.46 million.
The filing reads,
"During the year, the Group diversified part of its working capital into a cryptocurrency asset ('Ethereum' or 'ETH'). There are no limitations or restrictions on the Group’s ability to sell the cryptocurrency assets.”
https://www.theblock.co/post/247613/onlyfans-ethereum
3️⃣ Shiba Inu’s Highly Anticipated Shibarium Bridge is Now 'Fully Functional' ❗️
In an update posted earlier today, developers behind the Shibarium network announced that they had reopened the mainnet as well as fund withdrawals on the Shibarium bridge. They stated that withdrawals of SHIB, LEASH and wETH will take anywhere from 45 minutes to 3 hours to be processed, while BONE withdrawals could take up to 7 days. The team reportedly worked with Polygon blockchain developers to rectify any potential issues.
https://www.coindesk.com/tech/2023/08/28/shiba-inus-highly-anticipated-shibarium-bridge-is-now-fully-functional
4️⃣ Laos Drought Pulls the Plug on Crypto Mining Electricity Supply ⚡️
Électricité du Laos (EDL), the electricity distribution company owned by Laos, has announced that it will suspend electricity supply to crypto mining operations in the country. Notably, the move comes as a result of the drought experienced by the country in the first half of 2023. EDL is reportedly struggling to generate enough power as the extreme heat has resulted in a higher demand for electricity. Since hydropower plants generate 95% of the country’s power, this has placed significant stress on the power distribution capacity of the country amid the drought conditions.
https://cointelegraph.com/news/laos-halts-crypto-mining-electricity-amid-drought
- 📣📣 COIN BUREAU NEWSFLASH! – (27/08/23)
Here are some of today’s most important headlines:
1️⃣ JPMorgan Sees ‘Limited Downside’ for Crypto Near Term 🔎
According to a research report by JPMorgan Chase & Co., analysis of open interest in Chicago Mercantile Exchange’s BTC futures shows that the recent selloff in crypto markets is likely in its end phase as long-position liquidations are “largely behind us.” A decline in open interest typically indicates a price trend is losing strength.
https://www.bloomberg.com/news/articles/2023-08-25/jpmorgan-jpm-predicts-limited-downside-for-bitcoin-btc-crypto
2️⃣ FTX Suspends User Accounts Amid Kroll Cyber Breach Concerns ❗️
According to a recent announcement, bankrupt crypto exchange FTX has temporarily suspended accounts of impacted users accessing its claims portal following the recent Kroll cybersecurity breach. The exchange stated the move is a proactive measure to prevent future incidents or additional harm following the recent hack. FTX also clarified that all claim data submitted through the Kroll customer claims portal remains secure and valid.
https://cointelegraph.com/news/ftx-suspends-user-accounts-amid-kroll-cyber-breach-concerns
3️⃣ Tether CTO Stays Silent on Bitcoin Mining Locations 🤔
In a recently published tweet, Tether CTO Paolo Ardoino addressed rumours about where Tether is mining Bitcoin after images of large industrial containers with a photoshopped Tether Energy logo began circulating online. Notably, the image was first shared by Ardoino himself. Ardoino clarified that the photo shows a control room at one of Tether’s Bitcoin mining sites in South America that it is currently completing and will soon begin operations at.
With regards to the photoshopped logo, Ardoino stated,
“We thought that the photo would have been shared on newspapers so the team wanted to brand it. Moreover, putting gigantic Tether logos would not be great from physical privacy of the site point of view. The site is progressing well, everyone in the team is super excited and working around the clock to start operations in the next few weeks.”
https://cointelegraph.com/news/tether-cto-paolo-ardoino-bitcoin-mining-locations
https://www.bloomberg.com/news/articles/2023-08-25/jpmorgan-jpm-predicts-limited-downside-for-bitcoin-btc-crypto
- 📣📣 COIN BUREAU NEWSFLASH! – (26/08/23)
Here are some of today’s most important headlines:
1️⃣ Rogue Pepecoin Team Members Blamed For $16M PEPE MultiSig Withdrawal 🔎
According to a community announcement from the official Pepecoin account, three rogue ex-team members were behind the recent $16 million withdrawal from the PEPE project’s multisig wallet.
The post, written by one of the anonymous founding members, reads
“The multi-sig was set up to require 3/4 signers present for an approval. Yesterday these 3 ex-team members came back behind my back, logged onto the multi-sig, stole 16 Trillion/ 60% of the 26 trillion multi-sig tokens, and sent them to exchanges to sell. They then removed themselves from the multisig in an attempt to absolve any association to $PEPE, deleting all of their social accounts and leaving me behind nothing but a message stating ‘the multisig has been updated, you are now in full control.’ I am shocked at what took place and would like to apologise for all of the fear and uncertainty and any losses the actions of these bad actors have caused members of our community. The CEX-wallet tokens were never meant to be sold on the market or for the team to profit from.”
https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal
2️⃣ Treasury, IRS Release Proposed Crypto Tax Reporting Rules 🧐
Yesterday, the U.S. Treasury Department published a 300-page proposed rule book that would require brokers and exchanges to report certain sales on crypto. The rules reportedly aim to close the tax gap and bring digital asset reporting into line with reporting on other types of assets.
The Treasury Department also unveiled a new custom tax form – the 1099-DA – that would “help taxpayers determine if they owe taxes, and […] avoid having to make complicated calculations or pay digital asset tax preparation services in order to file their tax returns.” Notably, the proposed rules come as part of the Infrastructure Investment and Jobs Act passed in 2021 that sought to increase reporting made by brokers on customers’ crypto activity.
https://www.theblock.co/post/247478/treasury-irs-release-proposed-crypto-tax-reporting-rules
3️⃣ Binance Drops Sanctioned Russian Banks from Peer-to-Peer Service ❌
Crypto exchange Binance has reportedly cut ties with five sanctioned Russian banks that were listed on the exchange’s peer-to-peer service to let users transfer funds in roubles. Binance had earlier received criticism for using the codewords “yellow” and “green” to represent the sanctioned Russian banks in its payment options from its peer-to-peer (P2P) service. The exchange stated that the delisting was due to a regular update of its system to comply with local and global regulatory standards and sanctions rules. It also stated that it seeks to address and remediate any “gaps” pointed out by users as soon as possible.
https://www.wsj.com/finance/currencies/binance-drops-sanctioned-russian-banks-from-peer-to-peer-service-fef93a1d
4️⃣ Tokenisation Could Improve Bond Market Efficiency, Hong Kong Regulator Says 🏦
In a recently published 24-page report, the Hong Kong Monetary Authority (HKMA) detailed the findings of its Project Evergreen study, which analysed the market impact of bond tokenisation. The concluding sentiment of the report was that tokenisation provides improvement for the bond market by enhancing efficiency, liquidity and transparency. Notably, the findings follow a successful $100 million tokenised green bond issuance in February by the central bank in collaboration with the local government.
https://www.coindesk.com/policy/2023/08/25/tokenization-could-improve-bond-market-efficiency-hong-kong-regulator-says
5️⃣ The DEA Accidentally Sent $50,000 Of Seized Cryptocurrency to A Scammer ❗️
- 📣📣 COIN BUREAU NEWSFLASH! – (25/08/23)
Here are some of today’s most important headlines:
1️⃣ FTX and BlockFi Hit by Third-Party Data Breach, Exposing User Data 🥶
According to reports, customer data of bankrupt crypto exchange FTX and lender BlockFi have been compromised due to a hack affecting Kroll, a third-party agent responsible for managing creditor claims for bankrupt companies. While crypto account passwords and other sensitive data weren’t leaked, customers were warned to be on the lookout for scammers impersonating parties in the bankruptcy.
https://decrypt.co/153719/ftx-blockfi-hit-third-party-data-breach-exposing-user-data
2️⃣ Colombian Peso Stablecoin Goes Live on Polygon, Aiming for $10B Remittances Market 🚀
Stablecoin issuer Num Finance has reportedly launched a Colombian peso-pegged stablecoin on the Polygon network. The stablecoin, named nCOP, is over-collateralised by reserve assets and will enable companies to make real-time settlements and cash management more efficient without foreign exchange risk.
Num Finance CEO Agustín Liserra stated,
“In Colombia, there exists a unique opportunity to ‘tokenise’ remittances and offer them a yield in nCOP, based on regulated financial products. Currently, Colombia is one of the main recipients of remittances in Latin America.”
https://www.coindesk.com/business/2023/08/24/colombian-peso-stablecoin-goes-live-on-polygon-aiming-for-10b-remittances-market
3️⃣ Mastercard, Visa Step Back from Binance Card Partnerships 💳
According to a Bloomberg report, global payments giant Mastercard is ending its cryptocurrency card partnership with crypto exchange Binance in Argentina, Brazil, Bahrain and Colombia starting Sept. 22. Notably, the report states that the move might be due to the increased regulatory scrutiny faced by Binance, in recent times. As of July, payment processor firm Visa has also reportedly stopped issuing new co-branded cards with Binance in Europe. The report also states that the decision to end the program will not impact any of Mastercard’s other crypto card programs.
https://www.bloomberg.com/news/articles/2023-08-24/mastercard-to-end-its-binance-co-branded-card-partnership
4️⃣ Ledn Opens Crypto-Native Path to Cayman Islands 'Golden Visa’ 🏝
Cayman Islands based Bitcoin banking firm Ledn has reportedly partnered with crypto real estate broker Parallel to launch a lending product that allows investors to finance and acquire Cayman Islands properties by using their BTC as collateral. Ledn claims the initiative helps crypto natives to secure a "Golden Visa" and permanent residency in the British Overseas Territory without having to sell their cryptocurrency or exchange it for fiat. The loans start with a 50% loan-to-value ratio at an annual interest rate of 12.9%.
Ledn CEO Adam Reeds stated,
"As both companies are regulated by the Cayman Islands Monetary Authority (CIMA) as Virtual Asset Service Providers, this partnership is a testament to the framework that the regulator has put in place to encourage the responsible development of the crypto industry in the Cayman Islands."
https://www.theblock.co/post/247251/ledn-parallel-crypto-native-cayman-islands-golden-visa
5️⃣ Base, Optimism Unveil Shared Governance and Revenue-Sharing Framework ❗️
Developers behind the Base and Optimism networks have jointly announced a revenue-sharing and governance-sharing agreement. The agreements will see Base pay either 2.5% of its revenue or 15% of its profits to the Optimism Collective. The agreements are part of Coinbase’s efforts to transition its Base blockchain towards full decentralisation in collaboration with the Optimism Collective and OP Labs. While Coinbase has not provided a specific timeline for this transition, it published a list of “principles of neutrality” that it will follow to prevent Base from becoming centralised.
https://cointelegraph.com/news/base-optimism-unveil-shared-governance-revenue-sharing-framework
- 🚨Rally Report🚨
DYDX
The price of DYDX has rallied by 10% in the past 24 hours.
WHY?!
🎉 Investors are likely bullish ahead of the expected launch of the decentralised exchange’s independent Cosmos-based blockchain. The team had earlier hinted that the dYdX chain would be running by the end of September.
🚀 The dYdX foundation even released a list of preferred practices for dYdX Chain validators and stakers this week. The guidelines lay out punishments for validators engaging in malicious MEV and encourage social measures to disincentivize MEV extraction altogether.
If you want to buy or trade DYDX, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
- 🚨Rally Report🚨
AKASH NETWORK
The price of AKT has rallied by 11% in the past 24 hours.
WHY?!
📈 The price of AKT has been steadily rising over the past few weeks. Akash Network is a decentralised cloud computing platform that supports GPU. This allows anyone to run their AI models on the Akash network.
🚀 Investors are bullish as the team recently announced the launch of Stable Payments on testnet. Stable Payments allows users to make settlements in the USDC stablecoin instead of AKT.
If you want to buy or trade AKT, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
- 📣📣 COIN BUREAU NEWSFLASH! – (20/08/23)
Here are some of today’s most important headlines:
1️⃣ Sam Bankman-Fried Requests Weekday Freedom for Legal Defence Work ⚖️
In a letter sent to Judge Lewis Kaplan on Friday, legal representatives for Sam Bankman-Fried sought permission for the FTX founder to spend five weekdays outside his confinement in the Metropolitan Detention Center in Brooklyn to collaborate with his legal team on his defence case that is set to begin in October. They stated that their client was facing difficulties thoroughly reviewing the accumulated extensive documents while being confined.
Christian Everdell, attorney for SBF, stated:
“Just last week the government produced three-quarters of a million pages of Slack communications, which were supposed to be produced months ago, that Mr. Bankman-Fried will have no hope of reviewing under this schedule.”
https://cointelegraph.com/news/sam-bankman-fried-requests-weekday-freedom-for-legal-defense-work
2️⃣ Coinbase International Volumes Pick Up, Topping $280 Million In One Day 📊
According to data from The Block's data dashboard, Coinbase’s offshore derivatives exchange experienced a surge in daily trading volumes, reaching $287 million on August 18. Notably, the platform, which launched in May, has seen volumes top $100 million daily since August 14.
https://www.theblock.co/post/246414/coinbase-international-volumes-pick-up-topping-280-million-in-one-day
3️⃣ SEC Could Greenlight Ether Futures ETFs at Same Time 🧐
According to a Wall Street Journal report, the United States Securities and Exchange Commission (SEC) will likely approve multiple applications for Ether futures exchange-traded funds (ETFs) at the same time. Currently, at least 16 applications for Ether or Bitcoin-Ether futures ETFs are awaiting regulatory approval. Just earlier this week, asset management firm Valkyrie filed for an Ether futures ETF and a previous application combining a Bitcoin-Ether futures strategy.
https://www.wsj.com/livecoverage/stock-market-today-dow-jones-08-18-2023/card/sec-could-greenlight-ether-futures-etfs-at-same-time-4beV96JtPkjMt1LKIXHq
4️⃣ North Korean Hackers Have Stolen $200 Million So Far This Year: Report 🔎
According to a report released on Friday by blockchain intelligence firm TRM Labs, North Korean hackers have stolen over $200 million in cryptocurrency in 2023, accounting for over 20% of all stolen crypto in 2023.
A TRM Labs spokesperson stated,
“North Korean hackers use myriad techniques to launder stolen funds—from chain hopping to mixers—and then quickly cash out through accounts at exchanges that typically have lower KYC/AML controls in place. Following OFAC’s sanctioning of cryptocurrency mixing service Tornado Cash last year, TRM Labs has seen North Korea strongly favour Sinbad as the mixing service of choice.”
https://decrypt.co/153063/north-korean-hackers-stolen-over-200-million-in-2023
- 📣📣 COIN BUREAU NEWSFLASH! – (19/08/23)
Here are some of today’s most important headlines:
1️⃣ Mark Cuban, Yuga Labs Lead Backlash Over OpenSea's NFT Royalties Change 🥶
NFT Marketplace OpenSea’s recent decision to shut down its creator royalties enforcement tool has received criticism from several key figures in the space, including billionaire tech entrepreneur Mark Cuban and Bored Ape Yacht Club creator Yuga Labs.
In response to the policy change, Cuban tweeted,
“Not collecting and paying royalties on NFT sales is a HUGE mistake by OpenSea. It diminished trust in the platform and hurts the industry. And I say this as an OpenSea investor.”
In response to the policy change, Yuga Labs tweeted that it plans to begin the process of sunsetting its compatibility with OpenSea. The tweet reads,
"Yuga Labs will begin the process of sunsetting support for OpenSea’s SeaPort for all upgradable contracts and any new collections, with the aim of this being complete in February 2024 in tandem with OpenSea’s approach. For as much as NFTs have been about users truly owning their digital assets, they’ve also been about empowering creators. Yuga believes in protecting creator royalties so creators are properly compensated for their work."
https://decrypt.co/153043/mark-cuban-yuga-labs-lead-backlash-over-opensea-nft-royalties-change
2️⃣ Crypto Lender Exactly Hit by $12M Bridge Exploit ❗️
Optimism-based decentralised credit market ‘Exactly Protocol’ has become the latest victim of a security attack that has resulted in the loss of approximately 7,160 ether (worth $12.04 million). The protocol was temporarily paused after the attack, but users could still withdraw assets. The price of the protocol's native governance token (EXA) dropped by more than 12% following the exploit.
https://www.coindesk.com/business/2023/08/18/crypto-lender-exactly-hit-by-12m-bridge-exploit
3️⃣ OpenSea Ends Support for BNB Smart Chain ❌
NFT marketplace OpenSea is reportedly dropping support for NFTs built on the BNB Smart Chain. OpenSea stated that the decision to remove BSC was due to the "need to align resources with the most promising efforts.”
It also tweeted,
"Starting today, you will no longer be able to create new listings for or make new offers on BSC NFTs. However, you will still be able to view, discover, and transfer BSC NFTs on our site. We’re confident this decision will help us direct resources to keep pace with the rapid innovation in our ecosystem."
https://www.theblock.co/post/246384/opensea-ends-support-for-bnb-smart-chain
4️⃣ BNB Hacker Loses Over $53M After Getting Liquidated in Market Crash 📉
According to reports, the hacker behind the infamous $600 million BNB Smart Chain exploit was among the list of traders liquidated by the sudden market pullback in the crypto space yesterday. Specifically, a crypto wallet linked to the exploit had its $53 million collateral liquidated on the crypto lending platform Venus Protocol. The hacker apparently used the tokens as collateral for a $30 million USDT loan on the protocol.
https://cointelegraph.com/news/bnb-hacker-loses-over-53m-after-getting-liquidated-in-market-crash
5️⃣ Elon Musk Says He's Killing Twitter's Block Feature, Sparking Outcry 🧐
Elon Musk is reportedly planning to delete Twitter’s ‘block’ feature except for DMs. He stated that he believes the feature makes no sense. The statement came in response to a post from the “Tesla Owners Silicon Valley” account, which questioned why users didn’t simply employ the “mute” feature instead of the “block” feature. Notably, Twitter co-founder and former CEO Jack Dorsey also added his support to removing the block feature in favour of just letting users mute other accounts if desired.
https://decrypt.co/152980/elon-musk-says-hes-killing-twitters-block-feature-sparking-outcry
https://decrypt.co/153043/mark-cuban-yuga-labs-lead-backlash-over-opensea-nft-royalties-change
- 📣📣 COIN BUREAU NEWSFLASH! – (18/08/23)
Here are some of today’s most important headlines:
1️⃣ Court Sides with Government in Coinbase-Backed Lawsuit Over Tornado Cash Sanctions 🤔
Judge Robert Pitman, the federal judge overseeing the Tornado Cash Sanctions lawsuit funded by Coinbase, has reportedly granted the United States Department of the Treasury’s motion for summary judgment, going against the six plaintiffs who said that the agency exceeded its authority when it sanctioned crypto mixer Tornado Cash last year.
Judge Pitman ruled,
“The DAO is an entity unto itself that, through its voting members, has demonstrated an agreement to a common purpose. As the government notes, the structure is not unlike that of stockholders of a corporation who may not intend to vote in a shareholder meeting, without this affecting the structure of the entity [….] The Court finds that Tornado Cash is an association within the ordinary meaning of the term and is, therefore, an entity that may be designated per OFAC regulations.”
https://www.theblock.co/post/246100/court-sides-with-government-in-coinbase-backed-lawsuit-over-tornado-cash-sanctions
2️⃣ Crypto Firm Helio Lending Gets Bond Sentence Over False License Claims ⚖️
The Australian Securities and Investments Commission has reportedly sentenced crypto lender Helio Lending to a one-year non-conviction good behaviour bond of 15,000 Australian dollars ($9,600) after the agency found the entity was falsely claiming it had a local credit license.
ASIC Deputy Chair Sarah Court stated,
“We expect entities and individuals to provide accurate information to their customers and potential customers. Helio falsely claimed that it held an Australian Credit license, misleading their customers to believe that they had the protections afforded by such a license."
https://cointelegraph.com/news/helio-lending-sentenced-over-australian-credit-license-claim
3️⃣ OpenSea Will Make Creator Royalties Optional for NFT Trades 🔎
NFT marketplace OpenSea is reportedly shutting down ‘Operator Filter’- its on-chain royalty enforcement tool on Aug. 31. The platform has stated that it has chosen to make creator fees optional for new collections after Aug. 31. Artists will now only be able to indicate their preferred creator fee, which buyers can choose to pay effectively as a tip.
In a blog post, OpenSea founder and CEO Devin Finzer stated,
“In November 2022, we launched the Operator Filter: a tool designed to give creators more control by restricting the sale of their collections to web3 marketplaces that enforce creator fees in secondary sales. It was meant to empower creators with greater control over their web3 business models, but it required the buy-in of everyone in the web3 ecosystem, and unfortunately, that has not happened. So, we’re making a few changes to our approach to creator fees.” Adding “To be clear, creator fees aren’t going away – simply the ineffective, unilateral enforcement of them.”
https://decrypt.co/152878/opensea-make-creator-royalties-optional-nft-trades
4️⃣ SEC Set to Greenlight Ether-Futures ETFs in Win for Crypto Industry ❗️
According to a Bloomberg report, the United States Securities and Exchange Commission (SEC) is set to approve the first exchange-traded funds (ETFs) based on Ether Futures. While, it couldn’t immediately be determined which funds would get the green light, nearly a dozen firms, including Volatility Shares, Bitwise, Roundhill and ProShares, have filed to launch the ETFs.
https://www.bloomberg.com/news/articles/2023-08-17/sec-said-to-be-poised-to-allow-us-debut-of-ether-futures-etfs-eth
5️⃣ Genesis, FTX Strike Deal for $175M Bankruptcy Claim 🤝
According to recent court filings, crypto exchange FTX and its CEO have formally requested a court mandate to resolve their disagreement with Genesis entities, aiming to settle claims amounting to nearly $176 million. Notably, the deal which also waives Genesis' parallel claims against FTX, represents a significant reduction from the nearly $4 billion FTX originally sought.
- 📣📣 COIN BUREAU NEWSFLASH! – (17/08/23)
Here are some of today’s most important headlines:
1️⃣ Shibarium 'Sloppy Launch' Sees null.8 Million Stuck in Pending State 😵💫
The Shibarium blockchain, an Ethereum layer-2 network that uses SHIB tokens as fees, finally went live yesterday after months of testing that saw millions of users participate and 21 million wallets created.
Shiba Inu lead developer “Shytoshi Kusama” stated,
“Many in the tech world, inside and outside the blockchain ecosystem, are promising ‘everything apps’ and full user interactivity in the world of ideas, goods, services and other opportunities. However, any such promise absolutely must start at a place of both community and decentralization. As part of one of the most popular cryptocurrencies on the planet, Shibarium lives at the intersection of those two principles in a way that eludes most other technologies, even many other blockchains.”
However, shortly after launch, blockchain data revealed that transactions on the network were stalled for at least five hours as of the time of writing. Approximately 954 ETH (worth null.7 million) and $750,000 worth of BONE were stuck on the bridge. Shytoshi Kusama later tweeted that the team messed up and that all the Ether bridged onto the network is currently unrecoverable.
https://www.coindesk.com/tech/2023/08/16/shiba-inus-ethereum-layer-2-blockchain-shibarium-goes-live-amid-push-for-defi-growth/
2️⃣ Ledger Adds PayPal as On-Ramp for Bitcoin, Ethereum Purchases 🚀
Hardware crypto wallet provider Ledger has reportedly integrated its Ledger Live software with PayPal to allow U.S. customers to buy cryptocurrencies like BTC, ETH, BCH and LTC using their PayPal account.
Ledger chairman and CEO Pascal Gauthier stated,
“We’re combining the uncompromising security of Ledger with PayPal's leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions. Ledger is committed to simplifying the world of crypto and PayPal is committed to making the movement of money as simple, reliable and affordable as possible.”
https://decrypt.co/152674/ledger-adds-paypal-on-ramp-bitcoin-ethereum-purchases
3️⃣ Coinbase Obtains Regulatory Approval to Offer Crypto Futures Trading to Eligible Clients ⚖️
Coinbase Financial Markets has reportedly obtained approval from the National Futures Association (NFA) to offer investments in crypto futures to eligible customers in the United States. Notably, the approval comes nearly two years after Coinbase first applied to join the NFA in September 2021.
Greg Tusar, Coinbase’s vice president of institutional product, called the approval a “critical milestone” and has stated that the exchange is the “first crypto-native leader” to directly offer traditional spot crypto trading alongside regulated and leveraged crypto futures for verified customers.
https://www.theblock.co/post/245626/coinbase-obtains-regulatory-approval-to-offer-crypto-futures-trading-to-eligible-clients
4️⃣ BitGo Bucks Crypto Downturn to Raise Funding at null.75 Billion Valuation 💰
Crypto custody firm BitGo has reportedly raised $100 million in a Series C funding round at a null.75 billion valuation. The firm has stated that it plans to use the money for strategic acquisitions and global expansion. Notably, the $100 million raise comes nearly two months after the custodian scrapped plans to buy rival Prime Trust.
https://www.bloomberg.com/news/articles/2023-08-16/bitgo-bucks-crypto-downturn-to-raise-funding-at-1-75-billion-valuation
- 🚨Rally Report🚨
THORCHAIN
The price of RUNE has rallied by 14% in the past 24 hours.
WHY?!
🎉 Investors are bullish as THORChain’s Lending Feature launches today.
🚀 The feature is expected to reduce the circulating supply of RUNE as it features mechanisms that burn and mint RUNE when opening and closing loans on the protocol. Investors believe the lending platform will be successful as it allows users to take loans at zero interest, without expiry, KYC and liquidation.
If you want to buy or trade RUNE, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
- 📣📣 COIN BUREAU NEWSFLASH! – (14/08/23)
Here are some of today’s most important headlines:
1️⃣ Pro-Bitcoin Javier Milei Wins Most Votes in Argentina Primary Election 🇦🇷
Javier Milei, an Argentine libertarian candidate known for his support of Bitcoin and the elimination of the central bank, has reportedly taken the lead in the country’s presidential open primary elections on Sunday.
According to Bloomberg data, with over 90% of the votes counted, Milei is leading with nearly 32% and is trailed by the conservative Together for Change (Juntos por el Cambio) party with just under 30%. Milei, who calls himself an anarcho-capitalist, has described Bitcoin as a reaction against “central bank scammers” who use fiat currency to scam Argentines with inflation.
https://cointelegraph.com/news/bitcoiner-javier-milei-wins-argentina-presidential-primary
2️⃣ DeFi Yield Aggregator Zunami Protocol Suffers $2.1 Million Loss in Exploit ❌
According to an alert by security firm PeckShield, DeFi yield aggregator Zunami Protocol has lost over $2.1 million in crypto after its primary "zStables" liquidity pool on Curve was hit by a price manipulation exploit. The attacker has already begun laundering the stolen funds via Tornado Cash.
Xian Yu, the founder of blockchain security firm SlowMist, tweeted
“This project fell victim to price manipulation attacks, resulting in a loss of over $2.1 million. The key point is, our system detected this risk two months ago, and we informed them privately in advance. Unfortunately, that communication was an unpleasant experience... In hindsight, it appears that this could have been avoided.”
https://www.theblock.co/post/244606/defi-yield-aggregator-zunami-protocol-suffers-2-1-million-loss-in-exploit
3️⃣ Donald Trump, Long Skeptical of Crypto, Holds Up to $500,000 In Ethereum 💰
According to a recently released financial disclosure form submitted to a federal ethics agency, former U.S. President Donald Trump holds up to $500,000 in an Ethereum wallet that appears to be connected to his ‘Trump Digital Trading Cards’ NFT collection that was launched as part of his campaign to return to the White House in 2024. Ironically, Trump is known for being a crypto sceptic.
https://decrypt.co/152361/donald-trump-ethereum-crypto-holdings
4️⃣ PayPal to Roll Out Cryptocurrencies Hub for Select Users 🚀
Payments giant PayPal has reportedly updated its terms and conditions to introduce Cryptocurrencies Hub- a feature that allows users to hold, buy and sell Bitcoin and other cryptocurrencies in their PayPal account. Users can also reportedly use the money acquired from the sale of crypto stored in the Cryptocurrencies Hub to make payments for purchases via PayPal. The feature is initially being rolled out to users who have “a personal PayPal account and a Balance Account in good standing.”
https://cointelegraph.com/news/paypal-cryptocurrencies-hub-launch
- I just minted Aket, "Divine Idyll", celebrating the start of @BuildOnBase bringing billions of people onchain.
It’s Onchain Summer.
https://onchainsummer.xyz/Coca-Cola
- 🚨Rally Report🚨
THORCHAIN
The price of RUNE has rallied by 20% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to the upcoming launch of THORChain’s Lending Feature. The feature is expected to reduce the circulating supply of RUNE as it features mechanisms that burn and mint RUNE when opening and closing loans on the protocol. Investors believe the lending platform will be successful as it allows users to take loans at zero interest, without expiry, KYC and liquidation.
🚀 This bullish sentiment is further compounded by the success of THORChain’s ‘Streaming Swaps’ feature which was also introduced recently. The feature has helped reduce slippage significantly on the protocol by breaking large transactions into smaller sub-swaps and executing them over a specific timeframe.
If you want to buy or trade RUNE, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
- 🚨Rally Report🚨
SHIBA INU
The price of SHIB has rallied by 9% in the past 24 hours.
WHY?!
🎉 Investors are bullish after the official Twitter account of the memecoin posted a cryptic message that reads: “Soon ™️”, yesterday.
🚀 The message likely refers to the upcoming launch of Shibarium which people speculate will occur on the 16th of this month.
🤝 The Shiba Inu ecosystem has also recently had a series of developments and partnerships.
If you want to buy or trade SHIB, we have an exclusive $40K Bonus, a 20% trading fee discount & a $15k trading competition on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
- 📣📣 COIN BUREAU NEWSFLASH! – (11/08/23)
Here are some of today’s most important headlines:
1️⃣ Bittrex to Pay $24 Million Penalty Over SEC Crypto Allegations ⚖️
Bankrupt crypto exchange operator Bittrex Inc and its non-US affiliate have reportedly agreed to pay a $24 million penalty in order to settle charges of offering U.S. investors access to unregistered securities.
SEC enforcement director Gurbir Grewal stated,
“For years, Bittrex worked with token issuers to 'scrub' their online statements of any indicia that they were investment contracts — all in an effort to evade the federal securities laws. They failed. Today’s settlement makes clear that you cannot escape liability by simply changing labels or altering descriptions because what matters is the economic realities of those offerings.”
https://www.bloomberg.com/news/articles/2023-08-10/bittrex-to-pay-24-million-penalty-over-sec-crypto-allegations
2️⃣ XRP's Market Cap Momentarily Zoomed to Trillions of Dollars on Gemini 📈
Yesterday, crypto exchange Gemini relisted the XRP token on its platform for deposits and trading. However, hours later, users reported seeing “wonky” prices for Ripple’s XRP token. The price of the token even temporarily surged to $50 for a few minutes at 20:30 pm UTC on the exchange. This rocketed the token's marketcap to trillions of dollars before immediately reverting to parity with the spot markets on other exchanges. Analysts state that the price surge was likely a result of low liquidity combined with a market buy order that was filled at an outrageously high price in the hours following the token relisting on Gemini.
https://www.coindesk.com/markets/2023/08/11/xrps-market-cap-momentarily-zoomed-to-trillions-of-dollars-on-gemini
3️⃣ Argentine Agency Opens Investigation into Worldcoin Over Biometric Data 🔎
Argentina’s Agency for Access to Public Information (AAIP) is reportedly investigating Worldcoin to verify the legality of its data collection practices within the South American country.
AAIP stated,
“Cases like this show the need to strengthen the current legal framework regarding the Protection of Personal Data. Citizens have the right, whenever personal data is provided, to have clear and accessible information in relation to the assignment, use and purpose for which the data is collected and processed, especially with regard to sensitive data, such as biometric data.”
https://cointelegraph.com/news/argentine-agency-investigation-worldcoin-biometric-data
4️⃣ Binance Labs Commits $5 Million To Invest in Curve DAO Tokens 💰
Binance Labs, the venture capital and incubation arm of crypto exchange Binance, is reportedly committing a $5 million investment in Curve DAO tokens in exchange for potential deployment on Binance’s BNB Chain. Notably, the investment appears to be part of the recent OTC deals done by Curve founder Michael Egorov.
Yi He, co-founder of Binance and head of Binance Labs stated,
"Curve is the largest stableswap, and as a key protocol in DeFi it has contributed to the steady growth of the space in 2023. Given the recent events that have impacted the protocol, Binance Labs has offered our full support to Curve through our investment and strategic collaboration. We view this cooperation as a starting point and look forward to working together to further propel the growth of the DeFi ecosystem."
https://www.theblock.co/post/244183/binance-labs-commits-5-million-to-invest-in-curve-dao-tokens
5️⃣ India Wants to Use Crypto Tokens to Digitally Sign Documents 🇮🇳
Yesterday, the Indian Ministry of Electronics and Information Technology (MeitY) announced the launch of the Indian Web Browser Development Challenge. The challenge reportedly seeks to “inspire and empower” Indian developers to create an indigenous web browser with an inbuilt Controller of Certifying Authorities (CCA) India root certificate.
- I just minted New Era BTC, celebrating the start of @BuildOnBase bringing billions of people onchain.
It’s Onchain Summer.
https://onchainsummer.xyz/fwb
- I just minted New Era ETH, celebrating the start of @BuildOnBase bringing billions of people onchain.
It’s Onchain Summer.
https://onchainsummer.xyz/fwb
- 📣📣 COIN BUREAU NEWSFLASH! – (08/08/23)
Here are some of today’s most important headlines:
1️⃣ Crypto Exchange Bitstamp in Talks to Raise Funds for Expansion, CEO Says 💰
According to a Bloomberg report, crypto exchange Bitstamp is in the process of raising fresh funding in order to expand the number of markets it serves around the world. Michael Novogratz’s Galaxy Digital Holdings is reportedly acting as an adviser in the funding round. The funds will be used to launch a licensed derivatives trading operation in Europe and expand to more markets in Asia.
Bitstamp CEO Jean-Baptiste Graftieaux stated,
“Bitstamp is not for sale, and we are not actively looking to sell the company. Our current and exclusive priority is to raise money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to retail and institutional crypto customers.”
https://www.bloomberg.com/news/articles/2023-08-07/crypto-exchange-bitstamp-in-fundraising-talks-seeks-expansion
2️⃣ Payments Giant PayPal to Launch Dollar-Pegged Stablecoin on Ethereum 🚀
Yesterday, global payments giant PayPal announced the launch of PayPal USD (PYUSD)- the firm’s own U.S. dollar-pegged stablecoin. The stablecoin, which will be issued by Paxos Trust Co, is expected to become "a part of the overall payments infrastructure” and marks the payments giant’s entry into the cryptocurrency market. PYUSD will be issued on the Ethereum network as an ERC-20 token and is backed by short-term treasuries, dollar deposits, and cash equivalents.
https://decrypt.co/151586/payments-giant-paypal-launches-dollar-pegged-stablecoin
3️⃣ Hong Kong Regulator Warns ‘Improper Practices’ by Crypto Exchanges Can Be ‘Criminal’ 👮♂️
In a notice issued earlier today, the Hong Kong Securities and Futures Commission warned unlicensed crypto exchanges engaging in “improper practices” that their conduct may be liable to committing a “criminal offence” in the city. It also stated that such entities will be barred from receiving a license under the new regime for crypto retail trading.
The notice reads,
“It has come to the attention of the SFC that, anticipating the transitional arrangements, some unlicensed VATPs set up new entities to provide virtual asset services in Hong Kong. For example, they may, under new or existing entities, launch certain virtual assets for trading by retail clients, trading services in virtual asset derivatives, or arrangements involving virtual assets such as virtual asset ‘deposits,’ ‘savings” or ‘earnings’ which are not allowed under the new regime.”
https://www.theblock.co/post/243537/hong-kong-regulator-warns-improper-practices-by-crypto-exchanges-can-be-criminal
4️⃣ Solana-Based Cypher Protocol Experiences Exploit, Freezes Smart Contract 🥶
Solana-based DEX Cypher Protocol reportedly lost almost null million in crypto due to an exploit that occurred yesterday. The protocol’s contracts are now frozen while the team attempts to investigate the cause of the exploit and make contact with hackers to negotiate a return of funds. Notably, the exploit occurred during Cypher’s biannual hacker house mtnDAO which it hosts in Salt Lake City alongside fellow Solana trading protocol marginfi.
https://www.coindesk.com/business/2023/08/07/solana-based-cypher-protocol-experiences-exploit-freezes-smart-contract
5️⃣ Blockchain.Com Scores Payment License from Singapore Central Bank 🏦
The Monetary Authority of Singapore (MAS) has reportedly granted a major payment institution (MPI) license to crypto exchange Blockchain.com. The license will allow the platform to provide digital payment token services to institutional and accredited investors. Notably, the MPI license comes after the platform received in-principal approval from the bank in September last year. The approval makes Blockchain.com the twelfth digital payment token service provider in the country.
https://cointelegraph.com/news/blockchain-com-payment-license-singapore-mas
https://www.bloomberg.com/news/articles/2023-08-07/crypto-exchange-bitstamp-in-fundraising-talks-seeks-expansion
- 📣📣 COIN BUREAU NEWSFLASH! – (07/08/23)
Here are some of today’s most important headlines:
1️⃣ Curve Offering null.85 Million Bounty for Exploiter's Identity (And Conviction) 💰
DeFi protocol Curve Finance is reportedly extending the bug bounty previously offered to the hacker to the general public. Thus far, the platform has recouped roughly 73% of stolen funds. Anyone who is able to identify the exploiter responsible for draining the Curve pools will reportedly be entitled to receive null.85 million.
Curve public comment in an Ethereum transaction's input data, states,
"The deadline for the voluntary return of funds in the Curve exploit passed at 0800 UTC. We now extend the bounty to the public, and offer a reward valued at 10% of the remaining exploited funds (currently null.85M USD) to the person who is able to identify the exploiter in a way that leads to a conviction in the courts. If the exploiter chooses to return the funds in full, we will not pursue this further "
https://decrypt.co/151555/1-8m-bounty-now-open-public-curve-finance-hacker-misses-deadline
2️⃣ Ethereum Community Baffled by Mysterious $4.5 Million Ether Burn Incident 🧐
On July 26th, an unknown individual using the ENS name nd4.eth sent 2,500 ether ($4.5 million) to a burn address. This has left many in the Ethereum community perplexed as the act effectively destroyed the coins for no specific reason. While the details of why or how this occurred remain unknown, many have jokingly applauded the individual for effectively reducing Ethereum’s supply — effectively aligning with the “Ethereum’s Ultrasound Money” narrative.
Laurence Day, the creator of Wildcat Protocol, tweeted,
“If you didn’t wake up this morning and say thank you to nd4.eth for contributing to the ultrasound money narrative, I want you to have a long, hard think about what you’re trying to achieve here.”
https://www.theblock.co/post/243514/ethereum-mystery-burn
3️⃣ Controversy as MakerDAO’s Spark Protocol blocks users with VPNs ❗️
Spark Protocol, the lending platform recently launched by MakerDAO, has reportedly decided to restrict users from accessing the platform’s front end via virtual private networks (VPNs). This move has sparked criticism among uses, with DeFi analyst Chris Blec stating that he was “disgusted” with the decision and that it was an “actual war on privacy.” Coincidentally, MakerDAO also increased the yield on DAI from 3% to 8%, shortly after it announced the decision.
https://cointelegraph.com/news/makerdao-spark-protocol-block-vpn-users-controversy
4️⃣ Huobi's Stablecoin Reserves Down 30% Amid Reports of Executive Arrests 📉
According to data from Nansen.ai, crypto exchange Huobi’s stablecoin exchange balances have dipped by 33% in the last week. The dip comes shortly after local news outlets in Hong Kong reported that several executives at Huobi had been taken away by police in China. The reports also claim the crypto exchange is facing solvency issues. However, a Huobi spokesperson has denied the claims made in these reports.
https://www.coindesk.com/markets/2023/08/07/huobis-stablecoin-reserves-down-30-amid-reports-of-executive-arrests
5️⃣ CoinGecko Now Has an Index For Crypto Tokens Alleged As Securities 🔎
Crypto price aggregator CoinGecko has reportedly launched a new index that tracks the tokens deemed as securities by the United States Securities and Exchange Commission. The "Top Alleged Securities Coins" page sorts the selection of crypto assets by market capitalisation, placing BNB at the top of the list, followed by Cardano, Solana and TRON.
https://cointelegraph.com/news/coingecko-adds-index-crypto-deemed-securities
- 📣📣 COIN BUREAU NEWSFLASH! – (05/08/23)
Here are some of today’s most important headlines:
1️⃣ Revolut To Suspend Cryptocurrency Services In US ❌
Digital bank Revolut has announced that it is closing its U.S. crypto platform due to the uncertain regulatory environment in the country. The platform stated that it will begin by suspending access to buying cryptocurrencies from Sept. 2 and later completely shutting down access to crypto from Oct 3. The platform also stated that, in the case of its U.S. users not selling their crypto holdings before Oct. 2, the company will liquidate any remaining balance on Oct. 3 and grant them the same market price for each token at that time.
https://cointelegraph.com/news/crypto-revolut-to-suspend-cryptocurrency-services-in-us
2️⃣ Looter Behind $61M Curve Hack Starts Returning Assets, Raising Hope for Recovery 🙌
The hacker behind the $61 million Curve exploit has reportedly returned some of the stolen assets. Specifically, the hacker returned 4820.55 alETH ($8,889,118) to the Alchemix Finance team and 1 ETH (null,844) to the Curve Finance team. Notably, the return of assets come after the affected protocols offered a 10% no-questions-asked bounty to the attacker.
Interestingly, the attacker left a message in one of the return transactions. It reads,
“I saw some ridiculous views, so I want to clarify that I'm refunding you not because you can find me, it's because I don't want to ruin your project, maybe it's a lot of money for a lot of people, but not for me, I'm smarter than all of you."
https://www.coindesk.com/markets/2023/08/04/looter-behind-61m-curve-hack-starts-returning-assets-raising-hope-for-recovery
3️⃣ Coinbase Seeks to Toss SEC Suit, Citing Ripple Crypto Ruling ⚖️
Crypto exchange Coinbase has reportedly filed a motion to dismiss the U.S. Securities and Exchange Commission’s lawsuit against the platform. Notably, Coinbase cited the decision taken by the judge in the Ripple Labs’ XRP lawsuit to argue that the SEC has no authority over its activities.
The filing reads,
“In this case, by contrast, the SEC has charged Coinbase based solely on blind, bid-ask, spot exchange transactions— the very sort of transactions the Ripple court recently held as a matter of law were not investment contracts because the undisputed facts showed no relevant relationship between the parties to the sale.”
https://www.bloomberg.com/news/articles/2023-08-04/coinbase-seeks-to-toss-sec-suit-citing-ripple-ruling-on-crypto
4️⃣ Elon Musk Claims X 'Never Will' Launch A Crypto Token 🔎
In a recently published tweet, Elon Musk declared that neither he nor the X platform will ever launch a crypto token. Notably, the declaration came in response to a post by X user DogeDesigner who cautioned readers to be wary of scam tokens that falsely claim connections to the social media platform.
https://www.theblock.co/post/243375/elon-musk-x-crypto-token-never
5️⃣ Worldcoin’s Orb Had Serious Security Vulnerability in Operator Onboarding: CertiK ❗️
According to a recent tweet by security firm CertiK, the controversial Worldcoin project had a serious security vulnerability in the vetting process for operators that could have allowed an attacker to bypass the verification process and operate an Orb without being interviewed or having a proper ID. The vulnerability has reportedly been fixed by the Worldcoin team after CertiK reported the vulnerability as a “standard whitehat disclosure.”
https://cointelegraph.com/news/worldcoin-orb-had-serious-security-vulnerability-in-operator-onboarding-certik