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📣📣 COIN BUREAU NEWSFLASH! – (12/12/22)
Here are some of today’s most important headlines:
1️⃣ Bank Of England Opens Applications For 'Proof of Concept' CBDC Wallet 🚀
The Bank of England (BOE) is reportedly seeking a “proof of concept” for a wallet that will be able to hold a central bank digital currency (CBDC). BOE will accept applications through Dec 23. Key deliverables include a wallet mobile app for both Android and iOS, a wallet website, an example merchant website and a back-end server.
https://cointelegraph.com/news/bank-of-england-opens-applications-for-proof-of-concept-cbdc-wallet
2️⃣ Crypto Spam Bots Go Silent on Twitter as Musk Promises to Prosecute Scammers 🤩
Crypto spam bots on Twitter have drastically reduced in the past 24 hours due to Elon Musk implementing a new policy that saw IP addresses of bad actors being banned. Musk stated that Twitter has identified a small number of people behind a large number of bot/troll accounts and the platform has shut down the IP addresses of “known bad actors.” He also added that in the case scammers try other methods to circumvent the IP address block, Twitter will be “shutting them down as soon as they show up” and will even “prosecute scammers anywhere on Earth.”
https://cointelegraph.com/news/crypto-spam-bots-go-silent-while-musk-promises-to-prosecute-scammers
3️⃣ South Korean Authorities Say Terraform Labs CEO Do Kwon in Serbia: Report 🔎
According to reports, South Korean authorities have received and confirmed a tip-off that Terraform Labs' controversial founder and CEO Do Kwon is now in Serbia after leaving Singapore in September.
South Korea’s Ministry of Finance “is in the process of requesting cooperation from the Serbian government” as part of the investigation. While South Korea and Serbia do not have an extradition treaty, the two countries have previously agreed to requests under the European Convention on Extradition.
https://decrypt.co/116948/south-korean-authorities-say-terraform-labs-ceo-do-kwon-serbia-report
Hey Guys,
Central bank digital currencies or CBDCs are considered to be the most terrifying financial technology to many in the crypto industry. However, CBDCs pale in comparison to the dystopian digital IDs that almost every country around the world is rolling out.
I've been wanting to cover digital ID for a while but wanted to make absolutely sure that I had all the information I needed to make a video unlike any other. It's safe to say that what I uncovered is more terrifying that anything I could have ever imagined.
This is easily one of the most important videos the Coin Bureau has ever done. It's up there with our videos about how to survive the great reset, the upcoming carbon credit scores, and of course all the videos about Blackrock magically being ahead of the curve.
I would say enjoy, but this is not a video to enjoy. This is a video to watch closely, and share with your friends and family.
You must watch until the end.
📣📣 COIN BUREAU NEWSFLASH! – (10/12/22)
Here are some of today’s most important headlines:
1️⃣ Alameda Research Secretly Funded Crypto Media Site the Block and Its CEO 🥶
Mike McCaffrey, the CEO of crypto news website ‘the Block’, reportedly financed the platform through loans from Alameda Research. From 2021 till this year, McCaffrey obtained three loans totalling $43 million.
The first loan was made in 2021 for $12 million when McCaffrey assumed the role of CEO and bought out other investors in the media organisation. The second was for $15 million in January to fund day-to-day operations. The third was for $16 million earlier this year for McCaffrey to buy personal real estate in the Bahamas.
McCaffrey resigned from his position after news of the loans broke out. Bobby Moran, The Block’s chief revenue officer, has announced he will be assuming the position of CEO following McCaffrey’s resignation.
Moran stated,
“No one at The Block had any knowledge of this financial arrangement besides Mike. From our own experience, we have seen no evidence that Mike ever sought to improperly influence the newsroom or research teams, particularly in their coverage of SBF, FTX and Alameda Research.”
https://www.coindesk.com/business/2022/12/09/sam-bankman-frieds-alameda-research-secretly-funded-crypto-media-site-the-block/
2️⃣ Congressional Committee Confirms SBF As FTX Hearing Witness ❗️
The U.S. House of Representatives Committee on Financial Services has confirmed that FTX founder Sam Bankman-Fried (SBF) will testify in a congressional hearing on the collapse of the company on Dec 13.
The confirmation comes after SBF tweeted that he was willing to testify,
"I still do not have access to much of my data -- professional or personal. So, there is a limit to what I will be able to say, and I won't be as helpful as I'd like. But as the committee still thinks it would be useful, I am willing to testify on the 13th."
https://www.theblock.co/post/193831/congressional-committee-confirms-sbf-as-ftx-hearing-witness
3️⃣ Amber Group Ditches Expansion Plans After Denying Insolvency: Report 🔎
According to a Financial Times report, Crypto trading firm Amber Group is putting its expansion plans on hold. The move is a result of its concerns that it will be pulled into the market turmoil sparked by the collapse of FTX, despite the FTX contagion reportedly having “no disruption” to its daily operation. The firm was previously planning to expand in Europe and the United States.
https://www.ft.com/content/5dca5327-124a-4a44-8af3-116e9634a2dd
4️⃣ Lawsuit Alleges Yuga Labs Conspired with Celebs Like Justin Bieber to Push Bored Ape NFTs 🤔
A class-action lawsuit has reportedly been filed in California against almost 40 people and companies- including Yuga Labs, MoonPay, Justin Bieber, Madonna, Steph Curry, and Paris Hilton. The lawsuit alleges they were part of “a vast scheme” of undisclosed celebrity endorsements.
The suit alleges that talent manager Guy Oseary instructed his extensive celebrity network to publicly support Yuga’s products, including Bored Ape NFTs, in exchange for payments from Yuga secretly funneled through MoonPay, in which he was an early investor.
Yuga Labs has denied the allegations,
“In our view, these claims are opportunistic and parasitic. We strongly believe that they are without merit, and look forward to proving as much.”
https://decrypt.co/116895/lawsuit-alleges-yuga-labs-conspired-celebs-justin-bieber-bored-ape-nfts
The ruling reads
"While the law certainly places limits on those advertisers, it also expects investors to act reasonably before basing their bets on the zeitgeist of the moment.”
Primarily, the judge stated that he found that the plaintiffs’ allegations were insufficiently backed, especially “given the heightened pleading standards” for fraud claims. However, the judge in his ruling said he would allow lawyers for the plaintiffs to refile their suit after amending some of their claims under a number of the statutes cited in the original complaint, which included the Racketeer Influenced and Corrupt Organisations Act, also known as RICO.
https://www.cnbc.com/2022/12/07/kim-kardashian-floyd-mayweather-crypto-scam-lawsuit-dismissed.html
6️⃣ Celsius Bankruptcy Judge Orders Return of User Crypto Worth $44 Million ⚖️
US Bankruptcy Judge Martin Glenn has ordered Celsius Network LLC to return crypto worth $50 million to users of custody accounts. This is a tiny fraction of the billions of dollars of crypto owed to Celsius users. The legal treatment of crypto present in interest-bearing accounts (which accounts for most of Celsius’ assets) is yet to be decided.
Glenn stated,
“I want this case to move forward. I want creditors to recover as much as they possibly can as soon as they possibly can.”
https://www.bloomberg.com/news/articles/2022-12-07/celsius-judge-orders-return-of-user-crypto-worth-50-million
“We do not store wallet account address information when a MetaMask user makes a “read” request through Infura, for example in order to check their account balances within MetaMask. We therefore can never associate wallet account addresses to an internet protocol (IP) address based on this type of user activity […] We retain and delete user data such as IP address and wallet address pursuant to our data retention policy. We are working on narrowing retention to 7 days and we will append these retention policies to our privacy policy in an upcoming update.”
https://decrypt.co/116524/consensys-updates-privacy-policy-for-metamask-infura-after-community-pushback
6️⃣ Nigeria Bans ATM Cash Withdrawals Over $225 A Week to Force Use Of CBDC 🇳🇬
In an effort to further its "cash-less Nigeria" policy and promote the usage of the e-Naira (Nigeria's Central Bank Digital Currency), the country has drastically restricted the amount of cash that people and businesses can withdraw from ATMs in a period of 1 week.
According to the circular by the Central Bank of Nigeria, individuals and businesses would now be limited to withdrawing $45 (₦20,000) per day and $225 (₦100,000) per week from ATMs. Any withdrawals above that limit would be subject to a 5% fee for individuals and a 10% fee for businesses.
https://cointelegraph.com/news/nigeria-bans-atm-cash-withdrawals-over-225-a-week-to-force-use-of-cbdc
https://www.coindesk.com/business/2022/12/05/stablecoin-issuer-circle-cancels-plan-to-go-public/
6️⃣ DeFi Lender Maple Finance Cuts Off Orthogonal Trading for 'Misrepresenting Its Financial Position' ❗️
DeFi lending platform Maple Finance has reportedly cut ties with crypto firm Orthogonal Trading due to the latter allegedly misrepresenting "its financial position.” Orthogonal Trading had defaulted on paying back a $36 million loan to M11 Credit, a Maple Finance pool delegate.
According to M11, Orthogonal Trading had previously stated that it only had limited exposure to FTX, but later this weekend the trading firm informed M11 and Maple Finance that its losses were much larger than previously disclosed.
Maple Finance stated,
"It is now clear that they [Orthogonal Trading] have been operating while effectively insolvent, and it will not be possible for them to continue operating a trading business without outside investment. Misrepresentation like this is in violation of Maple’s agreements, and all appropriate legal avenues to recover funds will be pursued, including arbitration or litigation as necessary."
https://decrypt.co/116466/maple-finance-cuts-off-orthogonal-trading
Chief Executive Officer Alex Harper stated,
“Our business is uniquely well-positioned to weather events like FTX [...] But as much as we might wish it, we do not exist in isolation from the market and that’s why we are acting fast and acting early by significantly reducing the size of our team.”
https://www.bloomberg.com/news/articles/2022-12-05/ftx-tremors-spur-australian-crypto-exchange-swyftx-to-lay-off-35-of-staff
📣📣 COIN BUREAU NEWSFLASH! – (04/12/22)
Here are some of today’s most important headlines:
1️⃣ Alameda Research Invested $1.15B In Crypto Miner Genesis Digital 💰
FTX's sister company Alameda Research reportedly invested quite heavily in Bitcoin mining company Genesis Digital Assets during the crypto bull run. Documents reveal this figure is close to about $1.15 billion. This makes it Alameda and FTX’s biggest venture bet. According to the document, the investment was made across four rounds conducted in a period of nine months between August 2021 and April this year.
https://www.bloomberg.com/news/articles/2022-12-02/alameda-bet-big-on-crypto-miner-genesis-digital-before-sector-implosion
2️⃣ Avalanche To Power Alibaba Cloud’s Infrastructure Services in Asia 🤝
Alibaba Cloud, or Aliyun, a division of the Chinese e-commerce behemoth Alibaba, is reportedly integrating with the Avalanche blockchain to support its Node-as-a-Service initiatives. The partnership will allow Avalanche developers to use Alibaba Cloud’s plug-and-play infrastructure as a service to launch new validator nodes on Avalanche's public blockchain platform in Asia.
https://cointelegraph.com/news/avalanche-to-power-alibaba-cloud-s-infrastructure-services-in-asia
3️⃣ Crypto Broker Genesis owes Gemini Customers $900M 🔎
Crypto brokerage Genesis along with its parent company Digital Currency Group (DCG) reportedly owes $900 million to customers of Gemini, the crypto exchange run by the Winklevoss twins- Tyler and Cameron.
Genesis was the primary partner in Gemini's "earn" programme, which enables small-scale investors to lend out their coins in exchange for a fixed stream of returns. In order to recover the funds from Genesis and DCG, Gemini has now reportedly established a creditors' committee.
https://www.ft.com/content/32977a99-c1c3-4f34-9ecc-4057217bf974
4️⃣ Mysterious Bitcoin Miner Shows Off Oldest Signature Dated Jan. 2009 🤩
An anonymous member of the bitcointalk.org forum has shared a signature dating back to January 2009 (just a week after Bitcoin came into existence), in a recent post that sought to identify Bitcoin miners from the early days. The anonymous member posted under the pseudonym “OneSignature”. After digging deeper, a protected Twitter account that was created back in October 2009 has been linked to the OneSignature account. Cointelegraph confirmed that the address used by the mysterious poster holds no balance.
https://cointelegraph.com/news/mysterious-bitcoin-miner-shows-off-oldest-signature-dated-jan-2009
Hey Guys,
I know the recent rally in the crypto market has been great and all, but I'm afraid I don't think the bottom is in for the crypto bear market. This is for many reasons, some of which I covered at length in two videos from earlier this year that you all seemed to love.
This might have something to do with the fact that those videos covered to important topics: when the currency crypto bear market could end, and how low coins and tokens could go before it's over. I reckon most of what was said back then still hold's true.
You can consider today's video to be an unofficial part three to this unofficial trilogy. I hope it will be as helpful as the first two were. I will be sure to keep you posted about any other big macro and crypto factors I see here and on my other socials.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (11/12/22)
Here are some of today’s most important headlines:
1️⃣ US Probes FTX Founder for Fraud, Examines Cash Flows to the Bahamas ⚖️
U.S. prosecutors are reportedly investigating FTX founder Sam Bankman-Fried for potential fraud in his involvement in improperly transferring FTX funds to the Bahamas around the time of the firm’s bankruptcy protection filing on Nov. 11 in the U.S. The unnamed source in the report also revealed that DOJ representatives spoke with FTX's court-appointed overseers regarding the scope of the data they require for further inquiry. Additionally, DOJ also intends to look into any unauthorised transfers of FTX cash to Alameda Research by SBF.
https://www.bloomberg.com/news/articles/2022-12-10/us-probes-ftx-founder-for-fraud-examines-cash-flows-to-bahamas
2️⃣ Chinese Authorities Break Up Billion-Dollar Crypto Money Laundering Ring: China News 👮♂️
Following an investigation into unusual money flows from construction firm Shi Mouyuan, Chinese authorities have reportedly arrested 63 people in association with a scheme that allegedly laundered 12 billion yuan ($1.7 billion). The laundering scheme operated internationally and "converted funds suspected of online pyramid schemes, fraud, gambling and other crimes into virtual digital currency."
https://www.theblock.co/post/193881/chinese-authorities-break-up-billion-dollar-crypto-money-laundering-ring-china-news
3️⃣ Abnormal Token Price Movements on Binance Not Hack-Related, Confirms CZ 🤔
Unusual price movements for some trading pairs including the tokens Sun Token (SUN), Ardor (ARDR), Osmosis (OSMO), FUNToken (FUN), and Golem (GLM) have prompted crypto exchange Binance to open an investigation for suspicious activity on the platform. After a preliminary investigation, Binance CEO Changpeng 'CZ' Zhao stated,
“Based on our investigations so far, this appears to be just market behaviour. One guy deposited funds and started buying. (Hackers don’t deposit). Other guys followed. Can’t see linkage between the accounts. We temporarily locked withdrawals on some of the profiting accounts, which caused a lot of complaints on social media, all from different countries. We are aware of the concept of too much intervention from the platform, “too centralised” attacks, etc. There is a balance to how much we should intervene. Sometimes, these happen in free market, and we need to let it play out.”
https://cointelegraph.com/news/abnormal-token-price-movements-on-binance-not-hack-related-confirms-cz
4️⃣ Florida Best-Prepared US State for Widespread Crypto Adoption: Research 🔎
A recent research report by Invezz claims that Florida is the crypto capital of the US for its active engagement with the growing crypto economy. The research was a state-wise analysis of crypto adoption in the US. The report reveals that Miami has one of the highest numbers of Bitcoin ATMs per person, with 14.63 per 100,000 people and one of the highest rates of public interest in crypto, with 210.28 Google searches for crypto topics per 1,000 people. Closely following Florida, U.S. states Texas and Illinois placed second and third for crypto adoption in the country.
https://cointelegraph.com/news/florida-best-prepared-us-state-for-widespread-crypto-adoption-research
Hey Guys,
It's really crazy to think that the central banks have been the primary cause of the crypto crash, specifically the Federal Reserve. The Fed said it would start raising rates last November, and since then it's been one big downtrend for all assets.
Naturally, everyone has been paying extremely close attention to the Fed as a result (including me!). In today's video I do a careful analysis of what Fed chairman Jerome Powell during his recent appearance at the Brookings Institute, a famous think tank.
What surprised me was that the markets seem to have interpreted his words incorrectly. Jerome came across as extremely hawkish, meaning that the Fed will continue raising rates. The markets paid attention to the one dovish thing he said, and rallied.
As you'll soon see, this could be very bad news very soon...
📣📣 COIN BUREAU NEWSFLASH! – (09/12/22)
Here are some of today’s most important headlines:
1️⃣ Ethereum Developers Target March 2023 for Release of Staked Ether 🤩
Yesterday, Ethereum’s core developers announced their decision to prioritise the enabling of staking withdrawals via the Shanghai upgrade before implementing The Surge-related Ethereum Improvement Proposal (EIP)-4884. The tentative timeline for when they expect the Shanghai upgrade to be completed is March 2023. They also set the timeline for a second hard fork sometime in the fall of 2023 that would address proto-danksharding, also known as EIP 4844.
https://www.coindesk.com/tech/2022/12/08/ethereum-developers-target-march-2023-for-release-of-staked-ether/
2️⃣ US Bitcoin Miners Forced to Report Energy Use in Proposed Bill 🔎
On Thursday, U.S. Senators Ed Markey and Jeff Merkley and Rep. Jared Huffman introduced a bill that would if passed, order the Environmental Protection Agency to study the energy usage and environmental impact of crypto mining. The bill would require US crypto miners using more than 5 megawatts of electricity to report greenhouse gas emissions and the source of power.
https://www.bloomberg.com/news/articles/2022-12-08/bitcoin-miners-forced-to-report-energy-use-in-proposed-bill
3️⃣ FEC Probe Demanded After SBF 'Admitted' Making Dark Money Donations ⚖️
The Citizens for Responsibility and Ethics in Washington (CREW), a campaign watchdog group, has reportedly filed a complaint with the Federal Election Commission (FEC) demanding an investigation into Sam Bankman-Fried's (SBF) political donations, claiming the former FTX CEO violated federal law by donating tens of millions of dollars to Republicans under the table. They cited comments made by SBF in a Nov. 16 interview with citizen journalist Tiffany Fong released via YouTube on Nov. 29.
https://cointelegraph.com/news/fec-probe-demanded-after-sbf-admitted-to-making-dark-money-donations
4️⃣ Ren Protocol Warns Users of Losses as It Plans to Wind Down Version 1.0 ❗️
Ren Protocol, an issuer of wrapped bitcoin asset renBTC, has warned its users of the potential risk of losses after it shuts down its existing product. The developers of the protocol have warned users to unwrap their tokens and bridge them back to their native chains “ASAP” if they wanted to avoid losing them. The primary reason for the shutdown of Ren 1.0 is reportedly the shortfall in funding due to the financial collapse of Alameda Research, one of its backers.
https://www.theblock.co/post/193274/alameda-backed-ren-warns-users-of-losses-as-it-plans-to-wind-down-protocol
5️⃣ Japan’s Sumitomo Mitsui to Issue Soulbound Tokens to Explore Web3 🚀
Japanese financial group Sumitomo Mitsui Financial Group (SMBC) has reportedly partnered with HashPort Group to trial an initiative focused on the practical use of soulbound tokens (SBTs), specifically the use of SBTs for identity verification.
The company stated:
“It is expected in this new society that each individual will be able to control which personality he/she displays in each community in which he/she participates. SBTs satisfy these new social needs through the use of multiple ‘souls.’ If this user wants to prove his/her skills and work history when changing jobs, he/she can simultaneously prove his/her identity and his/her career information associated with them by allowing his/her employer to reference the SBTs.”
https://cointelegraph.com/news/japan-s-sumitomo-mitsui-to-issue-soulbound-tokens-to-explore-web3
Hey Guys,
By now most of you have seen or at least heard about the interview Sam Bankman-Fried did with NYT journalist Andrew Ross Sorkin at the now infamous DealBook summit in New York City.
After listening to the interview myself, I realised that many of the summaries and analyses out there seemed to have missed a few important details in Sam's responses to some questions.
That's why today I'll be giving you my own in-depth analysis of what the hell Sam is up to, why he hasn't been arrested, and of course the implications his continued antics could have for the crypto market.
Hope it helps.
📣📣 COIN BUREAU NEWSFLASH! – (08/12/22)
Here are some of today’s most important headlines:
1️⃣ Binance's Bitcoin Reserves Are Overcollateralised, New Report Says 🔎
Yesterday, global financial audit, tax and advisory firm Mazars confirmed that crypto exchange Binance's BTC reserves are fully collateralised, following a proof-of-reserves and proof-of-liabilities verification. Mazars stated that “Binance was 101% collateralised.”
However, Francine McKenna, a lecturer in financial accounting at The Wharton School at the University of Pennsylvania, has stated that the assessment is not an official audit. She questioned the viability of the report stating,
"They did a comparison of balances per public key address from a list they got from management. They did not compare any balances in independent banks or custodians or depositories. This is more worthless than even the Tether or USDC report,"
While the report from Mazars has assured customers that their BTC is collateralised, it is worth noting that Mazars has added a disclaimer stating,
“We make no representation regarding the appropriateness of the AUP. This AUP engagement is not an assurance engagement. Accordingly, we do not express an opinion or an assurance conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.”
https://www.coindesk.com/business/2022/12/07/binances-bitcoin-reserves-are-overcollateralized-says-audit/
2️⃣ Decentraland Launches Virtual Property Renting for LAND Owners 🤩
Metaverse platform Decentraland has officially announced a new feature which will allow users who own virtual LAND to rent out their property to other users on the platform for fixed periods of time. This will allow users who own LAND to essentially play the role of a landlord that earns passive income in the form of rent from their metaverse assets.
All LAND rental transactions will reportedly be paid upfront with MANA (Decentraland’s native token). Additionally, during the rental period, Decentraland landlords will be unable to sell their LAND, nor can they receive any purchasing bids until after the rental contract period is over.
https://cointelegraph.com/news/decentraland-launches-virtual-property-renting-for-land-owners
3️⃣ Taylor Swift Was In Talks To Sign A $100 Million Deal With FTX Prior To its Collapse 🤔
According to reports, Pop star Taylor Swift was in the late stages of negotiating a $100 million sponsorship deal with FTX months before its liquidity crisis and bankruptcy. The discussions reportedly included a ticketing arrangement with NFTs from the record-breaking “Anti Hero” singer-songwriter.
According to sources familiar with the matter, Sam Bankman-Fried (SBF) initially favoured the deal, in part because he’s “a fan of Tay Tay”. However, senior executives including FTX US president Brett Harrison reportedly urged SBF to drop the talks after deeming the deal to be “too expensive from the beginning.”
https://www.ft.com/content/2b0601e2-d371-404d-8531-227f11d4a83f
4️⃣ Binance.US Expands Zero Trading Fees to Ether, Updates Fee Model 🙌
Binance US has announced that it has expanded its “zero fee price model” to spot trading of Ether (ETH). The move comes just six months after it introduced the model for BTC.
Brian Shroder, CEO and president of Binance.US, stated,
"By eliminating fees first on BTC and now ETH, we are further cementing our position as the low-fee leader in crypto, raising awareness for the high fees consumers are paying on other platforms, and helping to restore trust in the greater ecosystem. Now, more than ever, it is critical that platforms operate with users’ interests first.”
https://www.theblock.co/post/192851/binance-zero-trading-fees-ether-fee-model
5️⃣ Federal Judge Dismisses Crypto Scam Lawsuit Against Kim Kardashian, Floyd Mayweather Jr. ❌
According to reports, the class-action lawsuit against EthereumMax founders and celebrity promoters, including Kim Kardashian and boxer Floyd Mayweather Jr., has been dismissed by US Federal Judge Michael Fitzgerald.
Hey Guys,
About 2 weeks ago, I did a video on self-custody.
I got quite a bit of feedback on that video and many people asked my opinion on some of the best mobile wallets.
So, I thought that this would be a great opportunity to do an updated video on mobile non-custodial wallets.
This is exactly what I have for you today. I take you through 5 of my top Mobile Wallets and explain the features, functionality, security and general pros and cons of each. I also give you some security tips to best store and manage your crypto while on the go.
I will note though that my list of the top wallets is not exclusive and there may be some that you use which aren't included. However, whatever wallet you do decide to use, be sure that it's one where you are in full control of your keys.
With that out of the way - I hope you enjoy the video!
📣📣 COIN BUREAU NEWSFLASH! – (07/12/22)
Here are some of today’s most important headlines:
1️⃣ Strike Partners with Bitnob to Enable Payments To 3 African Countries 📈
According to an announcement from Strike CEO Jack Mallers, the Bitcoin Lightning Network-based payments platform has partnered with the mobile app Bitnob to facilitate instant and low-cost payments to Nigeria, Kenya and Ghana for its U.S. users. This is possible through its "Send Globally" feature which instantly converts crypto into naira, cedi or shillings and deposits it into the recipient's bank, mobile money or Bitnob account.
Mallers stated,
“High fees, slow settlement, and lack of innovation in cross-border payments have negatively impacted the developing world. With exorbitant fees to transfer funds in and out of Africa and incumbent providers halting services, payments companies are struggling to operate in Africa and people cannot send money home to their family members. Strike offers an opportunity for people to transfer their US dollars easily and instantly across borders."
https://www.theblock.co/post/192445/bitcoin-lightning-strike-payments-3-african-countries
2️⃣ ‘Father Of The iPod’ Helps Ledger Create New Cold Crypto Wallet 🚀
Tony Fadell, the man behind the iPod, iPhone and Nest Thermostat, is collaborating with leading crypto hardware wallet developer Ledger to build a new credit card-sized cold wallet named Ledger Stax.
Ledger Stax will reportedly feature a large curved E Ink display, capacitive touch, Bluetooth support, wireless charging and more. The device gets its name due to being equipped with magnets that allow users to organise the storage of multiple similar devices and "stack" them in order. It is expected to launch next year and will be priced at $279, a markup compared to $79 for the Nano S Plus and $149 for the Nano X wallet.
https://cointelegraph.com/news/father-of-the-ipod-helps-ledger-create-new-cold-crypto-wallet
3️⃣ Warner Music Group to Release Polygon Music NFTs Through LGND Platform 🎶
Polygon and Warner Music Group have formed a multi-year partnership with the e-commerce platform LGND.io to roll out a web3 music platform called LGND Music. The platform will be an online marketplace that will offer songs as NFTs that can be listened to on the platform. It will also feature other digital collectables from musicians. As a part of the partnership, artists signed to Warner Music Group labels will release music NFTs through the Web3 music platform.
https://decrypt.co/116533/warner-music-group-polygon-music-nfts-lgnd
4️⃣ Blockchain Data Provider Chainlink Launches Staking of Its Native Token LINK 🏦
According to an announcement from decentralised blockchain oracle network Chainlink, staking of its native LINK token is now live on Ethereum. This will enable holders of LINK to contribute to the network's security and receive rewards in return. The first phase of Chainlink staking will reportedly help secure data feeds. Chainlink stated that the new staking feature is an integral part of its “Chainlink Economics 2.0” efforts that focuses on security and sustainable growth.
https://www.coindesk.com/tech/2022/12/06/blockchain-data-provider-chainlink-launches-staking-of-its-native-token-link/
5️⃣ ConsenSys Updates Privacy Policy for Metamask, Infura After Community Pushback ❗️
ConsenSys, the company behind the MetaMask crypto wallet, has issued a clarification on how it stores user data after the crypto community pushed back against the firm's updated privacy policy last month which revealed MetaMask, by default, shared users’ transaction data with Infura alongside their IP addresses.
The clarification reads,
Hey Guys,
If you've been keeping up with the crypto headlines you might have seen one about a research paper that was written by a PhD student at Harvard University which claims that central banks could start accumulating BTC to protect themselves from sanctions.
The adoption of Bitcoin by central banks is something I've discussed a few times before, namely in the context of an IMF paper about the decline of the US dollar. Naturally, this got me interested in what this Harvard paper was all about, and boy, I am glad I read it!
What this chap essentially did is model how much BTC central banks will accumulate with and without sanctions in the coming years. Not only that, but he created a very comprehensive and conservative price model for BTC's future price, and it's pretty bullish.
This is definitely one you can't miss!
📣📣 COIN BUREAU NEWSFLASH! – (06/12/22)
Here are some of today’s most important headlines:
1️⃣ Goldman Sachs Looking to Buy Discounted Crypto Firms After FTX Fiasco 💰
According to an exclusive report by Reuters, financial services firm Goldman Sachs is looking to spend tens of millions of dollars on crypto firms whose valuations have been hit after the implosion of FTX. Mathew McDermott, Goldman Sachs' head of digital assets stated that the firm sees “some really interesting opportunities, priced much more sensibly."
https://www.reuters.com/technology/goldman-sachs-hunt-bargain-crypto-firms-after-ftx-fiasco-2022-12-06/
2️⃣ FTC Investigates Crypto Firms Over Deceptive Ads 👮♂️
According to a recent statement by a spokesperson for the U.S. Federal Trade Commission (FTC), the agency is investigating several crypto firms over allegations of their advertisements being deceptive or misleading. However, the FTC spokesperson did not provide further details about which firms were the subject of the investigation or what had triggered the probe.
https://www.bloomberg.com/news/articles/2022-12-05/ftc-investigates-crypto-firms-over-misleading-advertising
3️⃣ SEBA Bank Partners with HashKey for Institutional Crypto Adoption 🤝
Regulated crypto bank SEBA Bank and digital asset financial services group HashKey have reportedly formed a strategic partnership to accelerate the institutional adoption of digital assets in Hong Kong and Switzerland.
According to the terms of the partnership, HashKey will become SEBA Bank's preferred digital asset trading and market development partner in Hong Kong, while SEBA Bank will become HashKey's banking partner.
Franz Bergmueller, group CEO of SEBA Bank stated,
"With a supportive regulatory framework, Hong Kong is a leading jurisdiction globally in the licensing provision of crypto products and services. It is important that the SEBA group becomes part of this ecosystem as a trusted, secure and transparent counterparty in this regulated crypto environment."
https://www.theblock.co/post/192082/seba-bank-hashkey-institutional-investors-hong-kong
4️⃣ Audit Firm Mazars to Verify KuCoin’s Proof of Reserves 🔎
Crypto exchange KuCoin has reportedly hired the international accounting firm Mazars to verify its proof of reserves in a third-party factual findings report. The verification will give the exchange’s customers additional transparency and reporting on whether their assets are collateralised. This will include margin and other accounts and will be focused on Bitcoin (BTC) and Ether (ETH), USDT and USDC. The report is expected to be available on KuCoin’s official website within a few weeks.
Wiehann Olivier, partner at Kucoin, stated
“After recent events, there is a dire need in the industry for additional transparency, and we are confident that Mazars’ PoR service offering to KuCoin and other international cryptocurrency exchanges will aid in building trust through transparency.”
https://cointelegraph.com/news/audit-firm-mazars-to-verify-kucoin-s-proof-of-reserves
5️⃣ Stablecoin Issuer Circle Cancels Plan to Go Public (For Now) 🤔
Yesterday, Stablecoin issuer Circle announced the mutual termination of its proposed merger with the special purpose acquisition company (SPAC) Concord Acquisition Corp., effectively stepping back from its plan to go public.
Under the terms of the agreements, Concord had until Dec. 10 to consummate the transaction or seek a shareholder vote for an extension. However, it appears that Circle was unable to complete its SEC qualification in time and Concord chose to have the time limit lapse instead of extending it.
Circle CEO Jeremy Allaire stated,
“Concord has been a strong partner and has added value throughout this process, and we will continue to benefit from the advice and support of Bob Diamond and the broader Concord team. We are disappointed the proposed transaction timed out; however, becoming a public company remains part of Circle’s core strategy to enhance trust and transparency, which has never been more important.”
Hey Guys,
It's been another crazy week in crypto and I'm here, as always, to give you to the rundown. In my opinion, the most important headline was the record level of BTC accumulation among smaller Bitcoin wallets. This is a sign of true crypto adoption in my books.
Besides that I've also noticed crypto projects migrating from other smart contract cryptocurrencies to Ethereum. I feel like this trend has been going on for a few months, but it appears to have been accelerated by the collapse of FTX and Alameda Research.
Last but not least there are some really significant macro factors coming, one of which happened today. The TLDR is that I think we're about to see a resurgence of inflation, and this could have some seriously negative affects on the crypto market (and our lives).
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (05/12/22)
Here are some of today’s most important headlines:
1️⃣ Bybit to Lay Off 30% of Staff Amid Crypto Winter 🥶
According to a tweet from Ben Zhou, the co-founder and CEO of Bybit, the crypto exchange is planning to implement another round of job cuts as it tries to refocus its operations amid a "deepening bear market.” The “planned downsizing” will reportedly affect 30% of employees across the board. Affected employees will receive three months’ worth of salary.
Zhou stated,
“It's important to ensure Bybit has the right structure and resources in place to navigate the market slowdown and is nimble enough to seize the many opportunities ahead. That way we can continue to deliver the crypto ark to the world with even more drive and passion.”
https://www.coindesk.com/business/2022/12/05/bybit-to-lay-off-30-of-staff-amid-crypto-winter/
2️⃣ TIMEX Launches $2,500 Bored Ape Watches and Matching NFTs ⌚️
U.S.-based watchmaker TIMEX has announced a partnership with the Bored Ape Yacht Club (BAYC) community to launch NFT-themed watches exclusively available to BAYC and Mutant Ape Yacht Club (MAYC) holders. A total of 500 watches and digital twin NFTs will be made.
To buy the watch, purchasers need to buy TIMEX’s Timepiece Forge Pass NFTs that went on sale today. Forge Passes can be minted for 2 ETH, or around $2,500. Purchasers’ watches will be personalised with a picture of their BAYC or MAYC NFT. Purchasers will also be able to customise it, with a choice of case, strap, and selected etchings.
https://decrypt.co/116412/timex-launches-2500-bored-ape-watches-and-matching-nfts
3️⃣ Chinese Court Says NFTs Are Virtual Property Protected by Law ⚖️
According to a Nov. 29 article posted by the Hangzhou Internet Court, NFT collections are online virtual property that should be protected under Chinese law.
The translated version of the article reads,
“NFTs have the object characteristics of property rights such as value, scarcity, controllability, and tradability and belong to network virtual property that should be protected by the laws of our country.”
According to the court, NFT digital collections fall within the category of virtual property, and the transaction at issue, in this case, is considered to be the "selling of digital goods through [the] internet," which is considered to be an e-commerce business and is "regulated by the E-commerce Law."
https://cointelegraph.com/news/chinese-court-says-nfts-are-virtual-property-protected-by-law
4️⃣ AAX Clients Storm Exchange's Office in Lagos Following Operations Halt ❗️
According to a recent report by a major Nigerian news website, Nigerian users of the crypto exchange AAX stormed the company's office in Lagos and abused its staff when the exchange suspended withdrawals.
The Nigerian Blockchain Technology Association Stakeholders (SiBAN) have decried the attack and urged angry users to be patient with the exchange's workers, who have also been impacted by the withdrawal freeze. SiBAN explained the frustration of users by stating,
"Considering that AAX’s system upgrade came at a time FTX collapse is still causing a contagion effect on the entire crypto industry, AAX’s timing of its system upgrade was suspicious and questionable in the first place. Consequently, for many AAX users and members of the public, the prolonged AAX system upgrade till the time of writing this notice significantly raises more questions than answers. And AAX, contrary to its promise to maintain a daily update of the situation, has so far neglected or failed to maintain the trust and confidence of its users."
https://cointelegraph.com/news/aax-clients-storm-exchange-s-office-in-lagos-following-operational-halt
5️⃣ FTX Tremors Spur Australian Crypto Exchange Swyftx to Lay Off 35% of Staff ❌
Australian crypto exchange Swyftx has reportedly laid off a total of 90 staff members in preparation for a “worst-case scenario” caused by “a potentially sharp fall in global trade volumes in the first half of 2023 and further aftershocks from FTX’s collapse.”
Hey Guys,
Yesterday, we looked at a number of factors that could drive the crypto market to new lows. While some have accused me of spreading FUD, it's important to know what risks lie ahead and to prepare for them.
Having said that, there are also a number of potential catalysts that could happen next year which may help to drive the crypto markets out of these lows.
This isn't hopium, it's some factors and events that have escaped the crypto headlines but have a reasonable chance of playing out next year.
An easy example is the news that Hong Kong is planning on legalising retail crypto trading early next year. This is a pretty big deal given there's lots of Chinese capital that's been waiting to get back in to the crypto market after China's 2021 crackdown.
This is just one of the 10 bullish catalysts I see coming for the crypto market sometime in 2023.
This is one to watch until the end!
📣📣 COIN BUREAU NEWSFLASH! – (03/12/22)
Here are some of today’s most important headlines:
1️⃣ Former FTX US President Is Seeking Funds for Crypto Startup: Report 💰
Brett Harrison, the former president of FTX U.S., is reportedly attempting to raise capital to fund a new crypto trading software startup. Harrison is seeking $6 million in funding at a valuation of $60 million for the startup. Harrison had announced his plans to step down as the president of FTX US and transition into an advisory role on Sept 27, over a month before FTX collapsed and filed for bankruptcy.
https://www.coindesk.com/business/2022/12/02/former-ftx-us-president-is-seeking-funds-for-new-crypto-startup-report/
2️⃣ Three Arrows Capital Liquidators Begin Taking Control of Failed Hedge Fund's Assets ❗️
According to a presentation deck obtained by crypto media firm The Block, Three Arrows liquidator Teneo has reportedly taken control of some of the assets belonging to the failed hedge fund.
The deck reads,
"Liquidators have taken control of fiat currencies totalling USD $35.6 million, which were held by Singapore banks and/or held by the Company’s pre-appointment lawyers. Proceeds from forced redemptions of investments of USD $2.751 million have also been realised.”
Additionally, an unspecified number of crypto tokens and NFTs have also been recovered. Teneo has stated that the hedge fund's founders Kyle Davies and Su Zhu have been uncooperative since the summer, making the liquidation process even more difficult.
https://www.theblock.co/post/191790/three-arrows-capital-liquidators-begin-taking-control-of-failed-hedge-funds-assets
3️⃣ Opera Crypto Browser to Enable Instant NFT Minting Through Launchpad 🚀
According to reports, Opera is partnering with cloud-based ecosystems company Alteon to launch a new NFT creation tool for its crypto browser in January. The new tool will allow users to mint NFTs by simply dragging and dropping media files into the browser. The browser will write a smart contract and upload the file into a blockchain, turning the files into NFTs.
Susie Batt, an executive at Opera stated,
“Now, our users will be able to create NFTs instantly and simply with no platform usage fees, encouraging more people to explore the burgeoning NFT industry.”
https://cointelegraph.com/news/opera-crypto-browser-to-enable-instant-nft-minting-through-launchpad
4️⃣ Terra Co-Founder’s Arrest Warrant Rejected by South Korean Court ⚖️
Hong Jin-pyo, chief judge in charge of warrants at the Seoul Southern District Court, has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong along with those of 3 Terra investors and 4 developers.
The judge stated,
"Considering the attitude toward the investigation, the circumstances, process and contents of the statement, it is difficult to see that there is a risk of destroying evidence or escaping beyond the scope of exercising the right to legitimate defence."
https://www.bloomberg.com/news/articles/2022-12-02/terra-co-founder-s-arrest-warrant-rejected-by-court-korean-news-agency-says