Ajibola (@sultnarif) • Hey
◱ ◱ Web3 analyst
Publications
- HashKey Exchange announced that it has completed the first cryptocurrency subscription for Bitcoin spot ETF and Ethereum spot ETF of Hong Kong Bosera International and HashKey Capital. Cryptocurrency redemption means that the underlying assets do not have to be sold immediately, which brings cost and liquidity advantages. Hong Kong cryptocurrency ETFs began to raise funds today and will be listed on the Hong Kong Stock Exchange on April 30.
- Morgan Stanley may allow its 15,000 brokers to advise clients to buy spot Bitcoin ETFs. The company is currently laying the groundwork for tender purchases, including risk tolerance requirements and restrictions on allocations and trading frequencies.
- CryptoPunk 635 was sold today to an anonymous collector for 4,000 ETH ($ 12.4 million), in a transaction facilitated by crypto art brokerage Fountain. The original owner of the NFT, Alien635, bought it at a Christie's auction on May 14, 2021. He spent $ 16.962 million and acquired 9 CryptoPunks.
- Movement Labs, a San Francisco–based team that’s building a L2 Ethereum blockchain, has closed a $ 38 million funding round, Polychain Capital led, Fortune has exclusively learned. It is using the Move programming language and the MVM to build L2.
- The United States announced that 2024 Q1 GDP will grow at an annual rate of 1.6%, significantly lower than expected. However, the PCE price index increased by 3.4% in the first quarter, far exceeding the 1.8% in the fourth quarter of 2023. Inflation is high and the Fed may not cut interest rates before September.
- ConsenSys has filed a lawsuit against the SEC and its five commissioners, hoping the federal court will declare that ETH is not a security and that any investigation of ConsenSys based on the idea that ETH is a security "would violate" the company's Fifth Amendment rights and the Administrative Procedure Act. ConsenSys revealed in the lawsuit that it received a Wells notice from the SEC on April 10, accusing MetaMask of operating as an unlicensed broker.
- Block Inc., led by Twitter co-founder Jack Dorsey, has completed development of its 3nm Bitcoin mining chip and is also developing a complete Bitcoin mining system. But so far, all Bitcoin chip companies outside China have failed, including Intel.
- The U.S. SEC is seeking public comment on BlackRock’s proposed changes to its spot ETH ETF. Nasdaq submitted an amendment on April 19 that discussed the creation and redemption process of this ETF, without any further mention of staking.
- The Hong Kong Bitcoin and Ethereum Spot ETF will begin trading on April 30, according to a HashKey spokesperson. Wintermute said the in-kind approach particularly appealing to crypto natives, market makers and digital-asset exchanges as it enables greater efficiency and arbitrage opportunities.
- Coinbase is launching a $ 15 million television ad campaign aimed at promoting the advantages of using cryptocurrency in language that sports fans can understand, according to Fox. Coinbase plans to air three different ads during the NBA playoffs on four channels.
- BNB Foundation announced the completion of the 27th quarterly BNB burn, with a total of 1,944,452.51 BNB automatically burned, worth approximately $ 1.17 billion. The automatic burn formula is calculated every quarter.
- CZ’s defense documents stated that CZ was not aware of and was never explicitly informed of the specific transactions involving criminal funds conducted on Binance; CZ was not at risk of re-offending because he should have been sentenced to probation rather than prison.
- The Chinese Embassy reminds that Angola’s “Law on the Prohibition of Cryptocurrency and Other Virtual Asset Mining” has officially come into effect on April 10. This law stipulates that cryptocurrency mining is a crime and may be punished with a prison sentence of 1 to 12 years.
Angola is Africa's third largest oil producer and was once China's largest crude oil supplier. Some Chinese miners go to Angola for Bitcoin mining.
- The IDO platform Ape Terminal issued a statement that the ZKasino IDO has been cancelled, and all participants will receive refunds. In addition, ZKasino has transferred 10,515 ETH (approximately $ 32.9 million) from the deposit contract to a 3/4 multisig contract (0x79…c491), and subsequently deposited them all into Lido.
- Bitcoin developer Luke Dashjr said that to filter Runes spam using either BitcoinKnots or Bitcoin Core, the only approach right now is to set datacarriersize=0 in your bitcoin.conf file (or the equivalent GUI option in Knots only).
After Runes went online yesterday, it once pushed the Bitcoin network transaction fee to more than 2,000 sat/vb. It has now fallen back to about 100 sat/vb (about $ 9).
- Satoshi Nakamoto’s first collaborator, sophomore Martti Malmi, disclosed his emails with Satoshi. Satoshi mentioned that there is no need to promote "anonymity" and Bitcoin as an investment. Bitcoin POW consumes less energy than the traditional banking system. POW is the only solution that can make a P2P electronic cash system work without a trusted third party.
- The crypto betting platform ZKasino has been questioned. Users are currently unable to withdraw money. The official Telegram has been banned. ZKasino’s deposit (0x91...Be45) reaches 10,500 ETH, worth US$ 32 million. Previously, ZigZag had issued an article accusing the ZKasino team of fraud.
Backdated via the Wayback Machine, ZKasino removed the sentence "Ethereum will be returned and can be bridged back" in its bridge interface Bridge funds on April 18.
MEXC said it will postpone the listing and withdrawal of ZKasino (ZKAS). As a result, the deposit of ZKAS will also be temporarily suspended.
- Binance is launching Binance Megadrop, a new token launch platform with airdrops and Web3 quests. The first project will be BounceBit (BB), a BTC restaking chain. BB will also listed in Binance.
- Tether CEO Paolo Ardoino said the Big Four accounting firms were afraid to work with Tether because they feared it would damage their reputation. But he said ensuring one of the (Big Four) serves as Tether’s auditor is a “top priority.” DLNEWS
- A U.S. official confirmed to ABC News Israeli missiles have hit a site in Iran. The official could not confirm whether Syria and Iraq sites were hit as well. — link
An explosion was heard in the Iranian city of Ghahjaworstan, which is located northwest of the city of Isfahan, according to Iran's FARS news, citing local sources. The cause of this explosion is unknown.
- MicroStrategy founder Michael Saylor entered into a stock-sale agreement with the company last year, allowing him to unload up to 400,000 shares this year through April. With over 90% of the plan in the books, Saylor has pocketed about $ 370 million. Saylor is the largest MicroStrategy shareholder, with Class B holdings worth about $ 2.3 billion. CNBC
- On April 19, Hong Kong’s licensed exchange HashKey stated that due to platform policy adjustments, it would suspend digital asset deposits and withdrawals from Binance. HasheKey had earlier stated that it would only accept deposits from Binance, the only third-party exchange.
- The JP Morgan CEO revisits some of his classic digs, calling BTC a “decentralized Ponzi scheme.” He called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value. Dimon has said that if the bad use cases can’t be solved, regulators must “shut it down.”
- DWF: Volume on Ordinals have increased exponentially with Bitcoin halving and Runes Protocol launch coming in April. The most prominent NFTs are nodemonkes BitcoinPuppets and QuantumCatsXYZ. Some of these airdrops have been of pretty high value. We expect many protocols to launch or migrate to Runes.
- OKX, the second largest offshore exchange, announced that it will launch memecoin WIF and MEW spot trading. OKX recently suddenly changed its style and listed a large number of coins. The reason is unknown.
- CoinShares: Digital asset investment products saw minor outflows totalling US$ 126m last week. Investors are seemingly hesitant since the positive price momentum has stalled. Ethereum suffered on a relative basis the most, with US$ 29m outflows last week, marking its 5th consecutive week of outflows.
- The UK will enact new legislation on stablecoins and cryptocurrency staking, trading and custody by June or July this year. A series of crypto asset activities such as operating exchanges and custody of customer assets will be included for the first time.
- Today, Whale Alert said that 48,632 ETH were transferred from an unknown wallet to Binance, worth $ 158 million. After verification, the address should be the address where Binance receives the income from staking ETH. The address received a total of 866,000 ETH from 1.96 million withdrawals.
- Julio Moreno, director of research at CryptoQuant, said that the Bitcoin market is experiencing unprecedented tightening, and various indicators currently indicate that we have not yet reached the end of this market cycle. It looks like there is room for further price increases
- Axios: U.S. President Biden told Israeli prime minister Benjamin Netanyahu during a call on Saturday that the U.S. will oppose any Israeli counterattack against Iran. U.S. will not participate in any offensive operations against Iran and will not support such operations.
- Curve founder Michael Egorov also faced liquidation of his lending positions as CRV fell to $ 0.42. Michael mortgaged a total of 371m CRV (approximately $ 156 million) through 5 addresses on 6 lending platforms to borrow $ 92.54m in stablecoins. The health rate has dropped to around 1.1.
- QCP: The Iranian attack on Israel has caused panic in the market. It is likely that BTC was used as a weekend proxy macro hedge and therefore bore the full brunt of the immediate risk-off reaction. It is worth noting that historically, buying the dip on the outbreak of major geopolitical conflicts has been a profitable trade.
- The BNB trading pair trends of the past 10 Binance Launchpool projects within 14days and the average yield trend of these 10 tokens was calculated, the theoretical average best selling point is 9 days and 11 hours after the opening, at which point the highest average yield can reach 8.7%, according to @0xKillTheWolf.ĺ
- Autism Capital calls for Vitalik to return to X (Twitter), rather than isolating himself on an island with his peers, where a larger community will have greater influence. Elon Musk also responded and asked why Vitalik left X. Vitalik currently speaks mainly on the decentralized platform Farcaster, after his Twitter account was hacked and phishing links were posted.
- Binance Labs announces its investment in StakeStone, a staking protocol aimed at connecting cross-chain liquidity and providing staking, future re-staking yields, and liquidity for emerging chains and ecosystems.
- Avalanche announces collaboration with Chainlink and Australia and New Zealand Banking Group to explore on-chain asset settlement. The cooperation aims to connect the Avalanche network with Ethereum to enable the circulation and settlement of tokenized assets globally.
- FTX has struck $ 884 million in deals with two dozen buyers, including an Abu Dhabi investor, to sell most of its shares in Anthropic, an artificial-intelligence startup that counts Amazon and Google among its backers. FTX invests $ 500 million in Anthropic in 2021.
- The London Stock Exchange has announced that it will accept listing applications for Bitcoin and Ethereum crypto ETNs from April 8, 2024. The first cryptocurrency ETNs will begin trading on May 28, 2024, subject to approval from the Financial Conduct Authority.
- Worldcoin is implementing Personal Custody. Personal Custody involves four components: device, the orb, a data package containing images and a temporary backend storage for transit. The backend cannot decrypt your data package.
- Montenegro’s Supreme Court placed a pause on Terra founder Do Kwon’s pending extradition from the Balkan country, issuing an order on Friday that overturns earlier decisions from two lower courts to extradite Kwon to his native South Korea.
- Defillama shows that the Ethereum re-staking protocol Renzo TVL exceeded $ 1.279 billion, becoming the second largest re-staking protocol. In the past month, Renzo’s TVL has increased by 215% monthly, and a seven-day increase of more than 33%.
- The U.S. SEC once again delayed its decision on whether to approve Grayscale’s Ethereum futures ETF application in a filing on Friday. The new deadline is May 30. The SEC said it needs sufficient time to consider the proposed rule changes and the issues they raise.
- There are rumors in the Chinese community that StarXu, the founder of OKX, the second largest cryptocurrency offshore exchange, is under investigation by the United States. Star posted three tweets to refute the rumors. Similar rumors often arise after CZ was criminally prosecuted by the United States.
- The U.S. SEC’s probe of the Swiss-based Ethereum Foundation began shortly after the blockchain’s shift to a new governance model known as “proof-of-stake” in September of 2022. The SEC is trying to classify ETH as a security.
- U.S. Representative Patrick McHenry and Senator Cynthia Lummis both said that it is possible that Congress will pass a stablecoin bill this year, but could not say when that would happen. A viable stablecoin bill has been largely settled in the House of Representatives, with only a floor vote to be scheduled.
- Coinbase Derivatives will begin futures trading on DOGE, LTC, and BCH on April 1. The exchange is leveraging self-certification with the U.S. CFTC to quickly list and ensure compliance. All three cryptocurrencies are derived from Bitcoin and are considered commodities by the SEC.
- BlackRock has officially launched its tokenized asset fund on the Ethereum network and made a strategic investment in asset tokenization company Securitize. The fund, represented by the blockchain-based BUIDL token, is fully backed by cash, U.S. Treasuries and repurchase agreements, and will pay daily earnings via the blockchain to token holders.
- BlackRock has officially launched its tokenized asset fund on the Ethereum network and made a strategic investment in asset tokenization company Securitize. The fund, represented by the blockchain-based BUIDL token, is fully backed by cash, U.S. Treasuries and repurchase agreements, and will pay daily earnings via the blockchain to token holders.
- Paul Grewal, chief legal officer of Coinbase, said that ETH is a commodity, not a security, which is the position the SEC has taken for years, and that the SEC has no good reason to reject the ETH ETP application. The CFTC and federal courts have unanimously confirmed that ETH is a commodity.
- A large ETH transaction worth over $ 16 million on Wednesday was used to purchase Punk #7804 in the CryptoPunks NFT. Punk #7804, one of only nine Alien Punks, traded for 4,850 ETH on Wednesday afternoon. This makes it the second most expensive CryptoPunks sale ever.