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🚨Rally Report🚨
FLARE
The price of FLR has rallied by 14% in the past 24 hours.
WHY?!
🎉 FlareDrop.01- the first of 36 monthly FLR airdrops claimable by wrapped flare token (WFLR) holders went live on March 17.
🤔 The price of FLR has steadily been rising since then. This is likely due to investors accumulating and wrapping FLR tokens in order to increase their share of airdropped FLR over the next few months.
If you want to buy or trade FLR, we have a 40% trading fee discount for you on OKX 👇
https://www.coinbureau.com/deals/trading/okx/
Hey Guys,
By now you'd have heard that Signature Bank, the second and last remaining pro-crypto bank, was shut down by US regulators last week. The circumstances under which the shutdown occurred has led to speculation that this was a crypto hit job.
I couldn't pass up the opportunity to go down the rabbit hole, and that's exactly where I take you today. To be honest, Signature Bank seemed like a super legit business. They had a unique style of doing things, but they weren't reckless like other banks.
The fact that Signature Bank was still technically solvent underscores the fact that something fishy is going on. The information that has come out since then seems to confirm that crypto played a role, and it forecasts more crypto crackdowns to come.
Enjoy, if you can...
📣📣 COIN BUREAU NEWSFLASH! – (23/03/23)
Here are some of today’s most important headlines:
1️⃣ SEC Warns Coinbase It's Pursuing Enforcement Action Over Securities Violations 🧐
Crypto exchange Coinbase has reportedly received a Wells Notice from the U.S. Securities and Exchange Commission. A Wells Notice is a legal document that informs the business that the agency is conducting an investigation and planning future action against the firm. However, it doesn’t specify exactly what activity it found in violation.
Coinbase has stated that it believes these potential enforcement actions would relate to aspects of the company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet.
Coinbase's chief legal officer Paul Grewal stated,
“If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets. Until then, it’s business as usual."
https://www.coindesk.com/policy/2023/03/22/sec-warns-coinbase-its-pursuing-enforcement-action-over-securities-violations
2️⃣ Telegram Announces USDT Stablecoin Payments on Tron Network ❗️
Users of the messaging platform ‘Telegram’ can now send each other the tether stablecoin (USDT), within chats in the messaging app. This is made possible due to USDT being added to the @wallet bot on Telegram. This will allow telegram users to buy, swap, and make P2P trades with Tether USDT (TRC20) with zero transaction fees on the platform.
https://decrypt.co/124243/telegram-announces-usdt-stablecoin-payments-on-tron-network
3️⃣ Bitget Acquires Controlling Stake In Bitkeep With Additional Investment At $300 Million Valuation 💰
Crypto exchange Bitget has reportedly invested an additional $30 million to acquire a controlling stake in the crypto wallet service ‘BitKeep’. Bitget stated that the investment in Bitkeep was an important part of its efforts to expand its business territory to the wallet sector in order to help provide native storage and asset management services.
https://www.theblock.co/post/221903/bitget-bitkeep-acquisition-investment
4️⃣ MetaMask Institutional Unlocks Solo ETH Staking Marketplace 🚀
MetaMask Institutional has reportedly launched a marketplace where companies and investment firms can choose among different staking services. The marketplace seeks to allow institutions that make use of MetaMask’s institutional-grade wallet and custody service to become Ethereum network validators. The marketplace will reportedly simplify access and management of solo ETH staking through four vendors — ConsenSys Staking, Allnodes, Blockdaemon and Kiln.
https://cointelegraph.com/news/metamask-institutional-unlocks-solo-eth-staking-marketplace
5️⃣ SEC Charges Tron's Justin Sun and Celebrities Including Lindsay Lohan, Jake Paul ⚖️
The U.S. Securities and Exchange Commission (SEC) has charged crypto entrepreneur Justin Sun, and three of his companies- Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc., for the unregistered offer and sale of two “crypto asset securities"- BTT and TRX- as investments “through multiple unregistered ‘bounty programs.’”
The regulator also accused eight celebrities, including Lindsay Lohan, Jake Paul and Soulja Boy of violating federal securities laws by “illegally touting” TRX and BTT without disclosing that they were being paid to do so. Six of the eight celebrities have reportedly agreed to pay $400,000 in disgorgement, interest and penalties to settle the charges without admitting or denying the SEC’s findings.
https://www.theblock.co/post/222077/sec-charges-trons-justin-sun-and-celebrities-including-lindsay-lohan-jake-paul
📣📣 COIN BUREAU NEWSFLASH! – (22/03/23)
Here are some of today’s most important headlines:
1️⃣ Sushi DAO, Key Contributor Served with SEC Subpoena ⚖️
The U.S. Securities and Exchange Commission has reportedly served a subpoena to Sushi and its "head chef" Jared Grey. Following the subpoena, ‘head chef’ Grey put up a proposal on the governance forum seeking to create a "Sushi DAO Legal Defence Fund." The legal defence fund will reportedly "cover legal costs for core contributors."
The proposal recommends dedicating $3 million in USDT to the fund, with a top-up of $1 million of USDT if needed. The funds for the legal defence will come from a combination of the following: 50% from Kanpai fees (lump sum), 35% from Grants (BD revenue), and 15% from sales of SUSHI tokens (TWAP market sells).
https://www.coindesk.com/policy/2023/03/21/sushi-dao-key-contributor-served-with-sec-subpoena
2️⃣ Sony's Latest NFT Patent Push Suggests Web3 Path for PlayStation 🎮
Sony Interactive Entertainment, the company behind the popular Playstation gaming console, has reportedly filed a patent request to make NFTs transferable between games and consoles.
The filing, published last week, outlines Sony’s intentions to create a standardised digital infrastructure allowing gamers to own and transfer digital NFT assets across various video game platforms, including the PlayStation and Xbox consoles.
The filing states that these assets, including in-game skins, artwork and avatars, could be “connected over a network” from PlayStation to consoles from other makers, as well as via VR and AR headsets, smart TVs, and mobile devices.
https://decrypt.co/124135/sonys-latest-nft-patent-push-suggests-web3-path-for-playstation
3️⃣ IRS Calls For Public Feedback On Taxing NFTs As Collectibles ❗️
According to a notice published yesterday by the U.S. Internal Revenue Service, NFTs could soon be treated as “collectibles”, similar to gems, stamps, alcoholic beverages and art.
The IRS stated that it plans to release guidance on having NFTs treated as collectibles under the U.S. tax code, and has called for feedback from the U.S. public on the matter. The agency stated that under the U.S. tax law, collectibles “do not have as advantageous capital-gains tax treatment as other capital assets.”
https://cointelegraph.com/news/irs-calls-for-public-feedback-on-taxing-nfts-as-collectibles
4️⃣ A16z Leads $40 Million Round for CCP Games 💰
Iceland-based CCP Games has reportedly raised $40 million in a seed funding round that was led by Andreessen Horowitz (a16z) and saw participation from other investors including Makers Fund, Bitkraft, Kingsway Capital, Hashed and Nexon. The funds will reportedly be used to build a new blockchain-based game set in the Eve Universe, the pioneering online game first released by the studio in 2003.
CCP Games CEO Hilmar Veigar Pétursson stated,
"Since its inception, CCP Games’ vision has been to create virtual worlds more meaningful than real life. Now, with advancements made within blockchain, we can forge a new universe deeply imbued with our expertise in player agency and autonomy, empowering players to engage in new ways."
https://www.theblock.co/post/221574/a16z-blockchain-game-eve
5️⃣ Miami and New York’s Crypto CityCoins Meet Quiet Demise ❌
Crypto exchange OKCoin has reportedly suspended the trading of two ‘citycoins’- MiamiCoin and NYCCoin due to ‘limited liquidity’ for the coins on the platform. OKCoin stated that the limited liquidity created the possibility of “price manipulation and fraudulent activity” occurring for the coins on the platform. OKCoin emphasised that while none of these risks had occurred, they wanted to get ahead of any “possible misconduct.”
https://www.bloomberg.com/news/articles/2023-03-21/miami-and-new-york-s-crypto-citycoins-meet-with-a-quiet-demise
🎟🎟 Coin Bureau Live Tickets!! 🎟🎟
For those of you who hadn't signed up to our pre-registration list, now is your chance to buy early bird tickets!
There are a limited number of these available so be sure to bag them before we increase the price.
📅 When = 10th of June
📍 Where = Devere Grand Connaught Rooms, London
❔ Who = Top speakers, industry experts, thought leaders, Guy & Team
Get your tickets now 👇👇
https://live.coinbureau.com/
🚨Rally Report🚨
XDC Network
The price of XDC has rallied by 20% in the past 24 hours.
WHY?!
🎉 Yesterday was the official ‘go-live’ date for the adoption of the ISO20022 financial standard.
🔎 ISO20022 is the latest financial standard set to replace SWIFT’s current MT messages. SWIFT is supporting the standard by mandating all its member banks to comply with the ISO 20022 messaging standard by 2025.
🤔 The price rally is likely driven by speculation as XDC Network supports ISO20022-compatible messaging systems and provides interoperability with legacy systems, such as ERP, SWIFT, and others.
If you want to buy or trade XDC, we have an exclusive 60% trading fee discount for one month, a bonus of up to $8,000 and $20 FREE on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
It's been one hell of a crazy week, and I'm here as always to give you the highlights. First thing's first - the recent rally has been epic, and I honestly think it could continue in the short term. However, there are still some things to keep an eye out for.
Regulators are continuing their crackdown on crypto in the USA, and the Fed and other central banks continue to raise interest rates. To be fair, that second factor could change as soon as this week.
As for the crypto regulations, that's a mixed bag. Although some countries appear to be embracing crypto, it's possible if not likely that they're facing pressure from the US to fall in line. Not all of them will, and history will show the defectors benefitted the most.
Finally, we finish off with some Bitcoin dominance analysis by Ben Cowen.
Enjoy!
🚨Rally Report🚨
CONFLUX
The price of CFX has rallied by 14% in the past 24 hours.
WHY?!
🎉 CFX has finally hit the $1 billion market cap milestone. This has made investors more bullish about the project.
📈 Other factors that have played a role in its broader rally are China’s potential crypto-friendly stance in the near future, and Conflux’s recent string of partnerships, the most notable of which is with China Telecom and Little Red Book.
If you want to buy or trade CFX, we have an exclusive 60% trading fee discount for one month, a bonus of up to $8,000 and $20 FREE on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
Have you ever wondered who is behind the ongoing crypto crackdown in the United States? In truth, there are a lot of people involved, but one of them appears to be Michael Barr, the vice chair for supervision at the Federal Reserve.
In addition to being anti-crypto, Michael was one of the architects behind the Dodd-Frank Act which introduced things like bank bail ins and the Consumer Financial Protection Bureau. For context, the CFPB was allegedly behind the original Operation Chokepoint.
Dodd-Frank also included the creation of vice chair for supervision at the Fed which Michael now coincidentally holds. It seems that Michael is planning on using his powers to crack down on the crypto industry and further consolidate the banking sector.
This is a video you do not want to miss!
📣📣 COIN BUREAU NEWSFLASH! – (18/03/23)
Here are some of today’s most important headlines:
1️⃣ Euler Exploiter Returns $5.4 Million In ETH To DeFi Protocol 🕵️♂️
According to tweets from on-chain sleuth ZachXBT, roughly 3,000 Ether ($5.4 million) was returned from the Euler Finance hacker’s address to Euler Finance’s deployer address. The returned funds were sent in three transactions of 1000 Ether. The funds returned thus far are just a small fraction of the $197 million that was stolen from the platform. It remains to be seen if the hacker will send the remaining funds as well.
https://www.theblock.co/post/220983/euler-exploiter-returns-5-4-million-in-eth-to-defi-protocol
2️⃣ Crypto Wallet Prototype Discovered Inside Microsoft Edge Browser 🔍
According to screenshots shared on Twitter by pseudonymous software researcher Albacore, Microsoft has added code that would integrate a non-custodial crypto wallet into the company’s default Edge browser.
The “embedded” crypto wallet is reportedly already “baked in" to recent releases of the Microsoft Edge browser, but is hidden and not accessible to users. In addition to the “embedded” non-custodial cryptocurrency wallet, the user interface in the screenshot also depicts a decentralised application explorer, a news feed, and the ability to buy cryptocurrency through Coinbase and MoonPay.
https://decrypt.co/123930/crypto-wallet-prototype-hidden-in-microsoft-edge
3️⃣ FTX Firms Had $6.8B Hole in Balance Sheet at Time of Bankruptcy ⚖️
According to a presentation filed to the bankruptcy court on Friday, Sam Bankman Fried’s crypto empire had roughly $4.8 billion in scheduled assets and $11.6 billion in scheduled claims when it filed for bankruptcy last November. This translates to a $6.8 billion shortfall in its balance sheet at that time.
https://www.coindesk.com/business/2023/03/17/ftx-firms-had-68b-hole-in-balance-sheet-at-time-of-bankruptcy
4️⃣ Coinbase Explores Overseas Venue as US Ramps Up Crypto Scrutiny ✈️
According to a Bloomberg report, U.S.-based crypto exchange Coinbase Global Inc. is in discussions with its institutional clients about potentially setting up a new crypto-trading platform overseas. The location of this new Coinbase venture which will reportedly service global clients is yet to be confirmed. A spokesperson for Coinbase stated that the move is in line with its mission to increase global crypto adoption.
https://www.bloomberg.com/news/articles/2023-03-17/coinbase-coin-in-talks-over-crypto-trading-platform-outside-the-us
🚨Rally Report🚨
STACKS
The price of STX has rallied by 17% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to the network’s upcoming hard fork on March 20, 2023. The hard fork is expected to bring a number of upgrades to the Stacks blockchain.
🤔 The hard fork will reportedly strengthen the connection between Stacks and Bitcoin. Some of the notable upgrades in the upcoming hard fork include decentralised mining pools, improved network bridges, and the compatibility of all Stacks-native assets with Bitcoin wallets.
If you want to buy or trade STX, we have an exclusive 60% trading fee discount for one month, a bonus of up to $8,000 and $20 FREE on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
The recent banking crisis has investors expecting the Fed to stop raising interest rates or even lower interest rates. It seems these folks didn't pay attention to what Jerome Powell said across over 5 hours of testimony to US politicians last week.
The Fed is intent on raising interest rates and keeping them higher for longer until either inflation comes down or unemployment starts to rise. Potential issues in the US government debt market are another thing the Fed is watching, of course.
Well, inflation is still running hot at 6%, unemployment is still below 4%, and the US government debt market is working fine. This suggests that the Fed will keep at it despite the recent banking crisis. Jerome's recent comments reveal a bit about crypto too.
I covered this all in my recent video on his testimony.
Enjoy!
"The investing public is investing anticipating a return, anticipating something on these tokens, whether they're proof-of-stake tokens, where they're also looking to get returns on those proof-of-stake tokens and getting 2%, 4%, 18% returns. Whatever they're promoting and putting into a protocol, and locking up their tokens in a protocol, a protocol that's often a small group of entrepreneurs and developers are developing, I would just suggest that each of these token operators ... seek to come into compliance, and the same with the intermediaries."
https://www.theblock.co/post/220297/gensler-suggests-proof-of-stake-tokens-are-securities
📣📣 COIN BUREAU NEWSFLASH! – (24/03/23)
Here are some of today’s most important headlines:
1️⃣ Do Kwon Charged with Fraud by US Prosecutors in New York ⚖️
Terraform Labs co-founder Do Kwon has reportedly been charged with eight separate counts of fraud, including commodities fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation, by United States prosecutors in New York. The move comes just hours after he was arrested by police in Montenegro. Federal prosecutors have stated that they will seek his extradition to New York.
https://www.bloomberg.com/news/articles/2023-03-23/do-kwon-charged-with-fraud-by-us-prosecutors-in-new-york
2️⃣ Hindenburg Research Reports Block Short Position, Claiming Fraud Facilitation And Inflated Metrics 🔎
Short seller Hindenburg Research has released a report on Jack Dorsey’s Block Inc., claiming the firm has “systematically taken advantage” of its users and that it is using its products to facilitate “fraud against consumers and the government avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.”
Hindenburg has announced that it will be shorting Block Inc stocks. It also added,
“Our research indicates, however, that Block has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual."
https://cointelegraph.com/news/hindenburg-research-reports-block-short-position-claiming-fraud-facilitation-and-inflated-metrics
3️⃣ UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024 🇦🇪
According to an announcement made by the Central Bank of UAE (CBUAE), the first phase of its central bank digital currency strategy is expected to be completed around mid-2024. CBUAE has signed an agreement with Abu Dhabi’s G42 Cloud and digital finance services provider R3 to be the infrastructure and technology providers of the CBDC implementation.
The first phase of its CBDC strategy will reportedly involve three major pillars. The first pillar is the soft launch of the ongoing project ‘mBridge’ which studies cross-border payments and multi-CBDC transactions. The second pillar is a proof-of-concept work for a bilateral CBDC bridge with India and the third is proof-of-concept work for a domestic wholesale and retail CBDC.
https://www.coindesk.com/policy/2023/03/24/uae-unveils-cbdc-strategy-first-phase-to-be-completed-by-mid-2024
4️⃣ Layer 1 Developer Radix Reaches $400 Million Valuation in New Token Round 💰
Layer 1 blockchain network Radix has reportedly raised $10 million at a $400 million valuation in a new funding round. The funding comes ahead of the introduction of its Babylon mainnet, which will allow smart contract capability on the Radix network for the first time. According to Radix CEO Piers Ridyard, the token round was entirely backed by DWF Labs.
https://www.theblock.co/post/222264/layer-1-developer-radix-reaches-400-million-valuation-in-new-token-round
🚨Rally Report🚨
LITECOIN
The price of LTC has rallied by 8% in the past 24 hours.
WHY?!
🤔 The most probable factor behind the rally is LTC’s upcoming halving event scheduled for August 2023.
📆 The current projection puts the halving event at a block height of 2,520,000 at 9:49:07pm UTC on 2nd August 2023.
If you want to buy or trade LTC, we have an exclusive 60% trading fee discount for one month, a bonus of up to $8,000 and $20 FREE on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
Not sure if you heard, but there was a hearing about the ongoing crypto crack down in the United States 2 weeks ago. It happened the day before the banking system went belly up, and shortly before Circle's USDC stablecoin lost its peg.
What's surprising is that the hearing was surprisingly pro-crypto. Politicians from both sides of the aisle were pushing for pro-crypto regulations, and invited mostly pro-crypto witnesses to testify as to why such regulations are required.
The contents of the hearing reveal some more details about the ongoing crypto crackdown, as well as how some US politicians have been approaching it. Unfortunately, it doesn't seem like anything will actually be done until the next election.
Enjoy it for what it's worth!
🚨Rally Report🚨
XRP
The price of XRP has rallied by 20% in the past 24 hours.
WHY?!
⚖️ On Monday, Ripple filed a Notice of Supplemental Authority to Judge Analisa Torres. The filing cited Judge Wiles’ recent ruling to reject the SEC’s objection to Voyager Digital’s sale of its assets to Binance US.
🔎 Particularly, Judge Wiles rejected the SEC’s argument that the sale cannot be valid due to Voyager’s ‘VGX’ token potentially being an unregistered security. Ripple highlighted Judge Wiles’ finding of the SEC’s “vagueness” in its reasoning behind labelling VGX as a security as of particular importance to Ripple’s case.
📈 This notice has boosted confidence among XRP investors leading to speculation about Ripple’s victory in the legal battle with the SEC.
If you want to buy or trade XRP, we have an exclusive 60% trading fee discount for one month, a bonus of up to $8,000 and $20 FREE on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
📣📣 COIN BUREAU NEWSFLASH! – (21/03/23)
Here are some of today’s most important headlines:
1️⃣ DefiLllama Drama Put to Rest: No Token Planned After ‘Poor Communication’ 🤔
According to a recent tweet by DeFi analytics platform DefiLlama, the internal conflict within its team has been solved. The platform is reportedly abandoning its ‘LLAMA’ token launch after certain team members had threatened a “forking” of the platform.
The company tweeted,
“The DeFiLlama team would like to apologise for the events that unfolded yesterday, as a result of poor communication and a misunderstanding within the team. We would like to put what happened behind us. There is no LLAMA token currently planned, and any airdrop will be discussed with the community, as every important decision is. We will take steps to operate in a more transparent manner to ensure this doesn't happen again.”
https://decrypt.co/124083/defi-llama-drama-resolved-no-token
2️⃣ Coinbase Pauses Support for Signature Bank’s Signet Crypto Payment Network ❌
According to a Wall Street Journal report, Coinbase Global will no longer support Signet- the real-time payments network of the failed Signature Bank. Coinbase informed users that they won’t be able to use Signet to send funds outside of banking hours until further notice. The crypto exchange is reportedly looking for another payment network provider and waiting on the outcome of the situation with Signature.
https://www.wsj.com/livecoverage/stock-market-news-today-03-20-2023/card/coinbase-pauses-support-for-signet-crypto-payment-network-w6wJBzBC4Nc0Hydgs79p
3️⃣ Immutable and Polygon Labs Team Up to Expand the Web3 Gaming Ecosystem 🚀
Web3 gaming developer platform Immutable has entered into a strategic partnership with Polygon Labs to create “Immutable zkEVM”- a Polygon-powered zkEVM fully supported on Immutable’s Web3 game development platform. The partnership is expected to accelerate the development of Web3 gaming by simplifying the process of onboarding game studios and developers in Web3.
Robbie Ferguson, the president and co-founder of Immutable, stated,
“By combining the number one Web3 gaming platform – currently serving hundreds of game studios and millions of players – with Polygon’s best-in-class zkEVM technology, we are building an Ethereum-centric gaming ecosystem that is poised to take Web3 mainstream and bring digital ownership to millions of people around the world. Billions of dollars of skins are sold each year with no rights for players – we’re changing that so players are in control, and ownership is the expectation.”
https://www.coindesk.com/web3/2023/03/20/immutable-and-polygon-labs-team-up-to-expand-the-web3-gaming-ecosystem
4️⃣ FTX Sues For Control Of Bahamas Assets, Calls FTX Digital Markets ‘A Front’ To Defraud Customers ⚖️
Bankrupt crypto exchange FTX is reportedly suing the liquidators of its Bahamas entity ‘FTX Digital Markets.’ According to the filings, FTX wants a declaratory judgment from the U.S. Bankruptcy Court that says FTX Digital Markets “has no ownership” in any of the FTX debtors’ property.
The lawyers for the firm claim ‘FTX Digital Markets’ was a “fraudulent enterprise” that was used as a shell entity to obfuscate the question of the firm’s ownership. The filing reads,
“If the FTX debtors succeed in this adversary proceeding, there will be no property of FTX DM for local proceedings in The Bahamas to resolve,”
https://www.theblock.co/post/221212/ftx-sues-for-control-of-bahamas-assets-calls-ftx-digital-markets-a-front-to-defraud-customers
5️⃣ Metamask Enables Direct Crypto Purchases in Nigeria 🇳🇬
Self-custody crypto wallet MetaMask has reportedly partnered with crypto fintech company MoonPay to enable users in Nigeria to purchase crypto via instant local bank transfers. The new feature is expected to significantly simplify the process of buying crypto without using credit or debit cards in Nigeria.
https://cointelegraph.com/news/metamask-enables-direct-crypto-purchases-in-nigeria
📣📣 COIN BUREAU NEWSFLASH! – (20/03/23)
Here are some of today’s most important headlines:
1️⃣ DefiLlama Team Fractures Over Potential Token Launch ❗️
‘0xngmi’, a pseudonymous employee of DefiLlama, has reportedly forked a version of the blockchain data platform due to internal problems at the firm. He accused the company's founders of launching a token despite internal pushback and lack of approval from any of the members of the team.
0xngmi stated,
“There is an ongoing attempt to launch a token that does not represent us. We don't want to be associated with it.”
Llama Corp., the parent company of DefiLlama, published an announcement stating that 0xngmi and a few team members have gone ‘rogue.’ DeFi architect and Yearn.finance founder Andre Cronjem has shown support for the founders of the platform, stating,
“Easy to be ideological when you aren’t paying the bills. Charlie has been out of pocket funding all of defillamas expenses for years, it isn’t cheap. Watching everyone turn on everything he has done is disgusting. Him trying to stop the bleeding isn’t greed, it’s sustainability. Let’s see how long they last without his ‘free money’. They’ll be raising or adding ads or a token soon enough.”
https://decrypt.co/123985/defillama-llamafi-team-fork-dispute-token-launch
2️⃣ FDIC Sells Signature Bank Deposits to Flagstar, Crypto Not Included 🏦
According to an announcement by the U.S. Federal Deposit Insurance Corporation (FDIC), Flagstar Bank (a subsidiary of New York Community Bancorp.) will be taking over all of Signature Bank’s non-cryptocurrency-related deposits ($38.4 billion) and loans ($12.9 billion) from Monday under a purchase and assumption agreement.
Under the agreement, Signature’s Bank 40 branches will begin operating as Flagstar Bank from March 20. All deposits assumed by Flagstar Bank will also continue to be insured up until the $250,000 insurance limit.
https://cointelegraph.com/news/signature-bank-deposits-branches-sold-to-flagstar-crypto-not-included
3️⃣ Bitcoin ATM Maker General Bytes Shuts Down Its Cloud Service After Hacker Identifies Vulnerability ❌
General Bytes, a Prague-based Bitcoin ATM manufacturer, has reportedly shut down its cloud services after discovering a “security vulnerability” that allowed an attacker to read and decrypt API keys to access users' hot wallets and gain sensitive information, including passwords and private keys. On-chain analysis has revealed a balance of 56 bitcoin ($1.5 million) in the bitcoin wallet linked to the attacker.
https://www.theblock.co/post/221032/bitcoin-atm-maker-general-bytes-shuts-down-its-cloud-service-after-hacker-identifies-vulnerability-enabling-them-to-decrypt-api-keys
4️⃣ Financial Supervisory Commission of Taiwan to Assume Authority on Crypto Regulation ⚖️
According to reports, FSC chairman Huang Tien-mu has confirmed that the regulator will assume supervisory authority over the crypto industry in Taiwan. Huang also announced that the FSC’s upcoming crypto regulatory framework will include major rules and policies, including the separation of customer assets from company funds and investor protection practices.
https://www.coindesk.com/policy/2023/03/20/taiwans-crypto-industry-welcomes-regulatory-announcement
📣📣 COIN BUREAU NEWSFLASH! – (19/03/23)
Here are some of today’s most important headlines:
1️⃣ Binance Answers Elizabeth Warren Without Addressing Financials 🔎
According to a Bloomberg report, Binance’s Chief Strategy Officer Patrick Hillmann has drafted a 14-page letter describing the company's efforts to build its compliance program and team. The letter comes as a response to criticisms of the exchange’s business activities that were outlined in a recent letter sent to the exchange by U.S. Senators Elizabeth Warren, Chris van Hollen, and Roger Marshall.
In their letter, the bipartisan trio accused Binance and its related entities of purposefully evading regulators, hiding basic financial information from its customers and facilitating money laundering.
While Hillmann’s response letter described the exchange’s compliance efforts and addressed “misconceptions” about the company, it reportedly failed to address the senator's concerns about Binance's lack of transparency as it did not provide sufficient details on the company’s finances.
https://www.bloomberg.com/news/articles/2023-03-17/binance-responds-to-elizabeth-warren-without-addressing-financials
2️⃣ Former Coinbase CTO Makes $2M Bet on Bitcoin’s Performance 🎲
Balaji Srinivasan, the former CTO of Coinbase, has reportedly made million-dollar bets on Bitcoin’s price exceeding $1,000,000 in the next 90 Days (June 17). The bet was placed in response to pseudonymous Twitter user James Medlock’s offer to bet anyone $1 million that the United States would not experience hyperinflation.
Under the proposed terms, both Medlock and Srinivasan will deposit 1 BTC and $1 million worth of USDC respectively into a smart contract. If BTC’s price fails to reach $1 million by June 17, Medlock will take possession of both assets held within the smart contract and vice versa.
https://cointelegraph.com/news/former-coinbase-cto-makes-2m-bet-on-bitcoin-s-performance
3️⃣ Switzerland Prepares Emergency Measures To Deliver UBS Takeover Of Credit Suisse 🇨🇭
According to a Financial Times report, Switzerland is preparing to use “emergency measures” to accelerate and finalise UBS’s acquisition of Credit Suisse before “markets open on Monday.”
The emergency measures would reportedly allow the deal to proceed without a shareholder vote, bypassing the usual Swiss regulations that require a “six-week” consultation period for shareholders “to consult on the acquisition.” The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe the acquisition is the “only option” to prevent a “collapse in confidence” in Credit Suisse.
https://www.ft.com/content/5746165a-3a0c-42c7-9a2e-cb7cf5f33f46
4️⃣ Silicon Valley Bank UK Arm Hands Out £15M In Bonuses Days After £1 Rescue 💰
The UK arm of Silicon Valley Bank (SVB UK) has reportedly handed out millions of pounds in employee bonuses just days after its insolvency was averted through a Bank of England-orchestrated rescue deal.
Notably, the employee bonuses were reportedly signed off by HSBC (SVB UK's new owner) “earlier this week.” While it remains “unclear” how much each employee was paid, sources described the bonus pool as “modest” and said that it totalled “between £15m and £20m.” Another source states the bonus payments were “a signal of HSBC’s confidence in the talent base” at SVB UK and were part of its efforts to retain key staff by honouring “previously agreed payments.”
https://news.sky.com/story/silicon-valley-bank-uk-arm-hands-out-15m-in-bonuses-days-after-1-rescue-12836853
Hey Guys,
I'm sure you've all heard about smart cities by now, but I bet that most of you don't know exactly what they are, who made them, which cities will be 'smart', and whether these cities will succeed. Naturally, we took it upon ourselves to find out and let you know.
What's interesting is that concept of smart cities comes from a 2008 marketing campaign by IBM. This was after the global financial crisis, and things were looking as crazy as they do now. The CEO of IBM urged the elites to use this crisis to roll out smart cities.
Fortunately, IBM's initial smart city campaign didn't get much traction. Unfortunately, this all changed in 2019 when the World Economic Forum established a smart cities alliance with the G20. It has since been trying to impose this digital dystopia everywhere.
This is a video you do not want to miss.
📣📣 COIN BUREAU NEWSFLASH! – (17/03/23)
Here are some of today’s most important headlines:
1️⃣ Lightning Labs And Tari Agree To Convert Restraining Order In Trademark Suit ⚖️
On Wednesday, Judge William H. Orrick issued a temporary injunction ordering Bitcoin software firm Lightning Labs to halt further development of its Taro protocol after blockchain startup Tari accused Lightning Labs of trademark infringement due to the use of the name “Taro.”
As per the terms under the injunction, Lightning has agreed to not make updates to the Taro protocol, including merging internal updates with the protocol’s public-facing open-source code, and announcing “the next stage or ‘milestone’ of the TARO protocol, until the protocol has sufficiently rebranded.
https://cointelegraph.com/news/lightning-labs-and-tari-agree-to-convert-restraining-order-in-trademark-suit
2️⃣ Doodles 'No Longer an NFT Project' and Won’t Cater to Speculators, Co-Founder Says 🤔
According to a statement posted on Discord by Doodles co-founder Jordan Castro, the Doodles brand is planning to move away from being an "NFT project" and instead focus on the long-term vision of becoming a top-tier media brand.
Castro wrote,
“We’re trying to go from a startup to a leading media franchise. We are no longer an ‘NFT project. The more time/money/resources we invest in following the latest ‘build in public’ trends that fuel speculation, the less we have to achieve our long-term vision. We are not going to spend any resources appeasing those with financial motivations. We never have and never will. If we are going to focus energy on any [group] of people, it will absolutely be our most loyal collectors.”
The statement seems to have garnered mixed reactions from community members. While some members view Castro’s comments positively as a sign of the brand “aiming higher”, others view his statements as the brand’s rejection of Web3 principles.
https://decrypt.co/123782/doodles-no-longer-nft-project-speculators
3️⃣ Crypto Exchange Orca to Block U.S. Traders From Website ❌
In a notice published on its website yesterday, decentralised exchange Orca announced that it will restrict U.S. users from trading coins via the front end of its website beginning on March 31. While Orca did not provide a reason for its move, it emphasised that the policy “will not impact the ability of U.S. users to directly interact with Orca’s smart contract or SDK, nor will it impact their ability to provide liquidity through orca.so.”
https://www.coindesk.com/business/2023/03/16/crypto-exchange-orca-to-block-us-traders-from-website
4️⃣ Ethereum's Next Big Upgrade Shapella Expected to Hit Mainnet on April 12 📅
Yesterday, Ethereum core developers announced that they have set a target date for Ethereum’s long-awaited Shanghai hard fork. The upgrade is set to take place on April 12 at 10:27 a.m. UTC, with epoch number 620,9536.
The main feature of the upgrade is Ethereum Improvement Proposal (EIP) 4895, which aims to enable validator staking withdrawals on the mainnet. The hard fork will also introduce three additional improvements aimed at optimising gas costs for certain activities with the Shapella upgrade.
https://www.theblock.co/post/220582/ethereums-next-big-upgrade-shapella-expected-to-hit-mainnet-on-april-12
5️⃣ Arbitrum to Airdrop New Token and Transition to DAO 🪂
Ethereum layer 2 scaling solution Arbitrum is reportedly airdropping its ARB token to community members on Thursday, March 23. Arbitrum Foundation stated that the token airdrop will mark Arbitrum’s official transition into a DAO. This will allow ARB holders to vote on key decisions governing Arbitrum One and Arbitrum Nova.
The Arbitrum Foundation stated,
“Arbitrum DAO will have the power to control key decisions at the core protocol level, from how the chain's technology is upgraded to how the revenue from the chain can be used to support the ecosystem.”
https://www.coindesk.com/tech/2023/03/16/arbitrum-to-airdrop-new-token-and-transition-to-dao
I'm on Rumble!! 💯
In case you didn't know, I have recently started reposting my YouTube videos on Rumble.
The benefit of this is two fold:
1. It allows us to reach a wider audience
2. It gives you the opportunity to watch our vids there should it be your preferred platform
👇
https://rumble.com/c/CoinBureau
In case you weren't aware, I also have numerous other social accounts with unique content you are not getting on the Tube:
https://guy.coinbureau.com/socials/
📣📣 COIN BUREAU NEWSFLASH! – (16/03/23)
Here are some of today’s most important headlines:
1️⃣ Salesforce Rolls Out Platform for Big Brands to Create NFT Loyalty Programs 🤩
Yesterday, the CRM software firm Salesforce announced the launch of its NFT management platform called ‘Salesforce Web3’. The subscription-based platform will reportedly allow businesses to mint and sell NFTs, monitor blockchain activity, and view real-time customer data.
Adam Caplan, Salesforce’s senior vice president of emerging technology, stated,
“We’ve seen a lot of interest from customers who want to understand and tap into this new world of Web3 and NFTs. Unique digital assets like NFTs present new avenues for brands to tap into first-party data to build digital communities, create digital twins, and drive loyalty programs.”
https://decrypt.co/123628/salesforce-web3-big-brands-nft-loyalty-programs
2️⃣ Crypto Tumbler ChipMixer Seized in International Operation ⚖️
According to an announcement from Europol, German and U.S. law enforcement agencies have seized almost 44 million euros ($46.3 million) from crypto mixing service ChipMixer for its alleged involvement in money laundering activities. Europol reported that the operation was also supported by Belgium, Poland and Switzerland.
The U.S. Department of Justice (DOJ) alleges that the platform was used by ransomware perpetrators, darknet markets, fraudsters and state-sponsored actors to launder money. It has reportedly charged a Vietnamese national named ‘Minh Quoc Nguyen’ with money laundering and identity theft in connection with the platform's operation.
https://www.reuters.com/technology/cybercriminals-crypto-platform-chipmixer-taken-down-says-europol-2023-03-15/
3️⃣ Uniswap Version 3 Goes Live on BNB Chain 🚀
Popular decentralised exchange Uniswap has officially launched on BNB Chain, the smart contract blockchain built by Binance. The move comes as a result of more than 55 million UNI token holders voting in favour of 0x Plasma Labs’ controversial governance proposal to deploy Uniswap v3 on the BNB Chain.
Alvin Kan, the director of growth at BNB Chain, stated,
“With BNB Chain's thriving and dedicated community, scalability, and accessibility, it is a launchpad for all things web3, where protocols looking to reach larger audiences can grow. We are delighted to see Uniswap’s continued commitment to delivering value to its users and building for the future of decentralisation.”
https://www.coindesk.com/tech/2023/03/15/uniswap-version-3-goes-live-on-bnb-chain
4️⃣ KuCoin Leads $10M Funding for Chinese Yuan Stablecoin Issuer 💰
CNHC Group, the issuer of the Chinese yuan-pegged stablecoin ‘CNHC’, has reportedly raised $10 million in a Series A+ equity funding round. The funding round was led by KuCoin Ventures and saw participation from other investors such as Circle Ventures and IDG Capital. The funds will reportedly be used to grow the adoption of the CNHC stablecoin in the Asia Pacific region.
The new investment in CNHC is the first time KuCoin Ventures has invested in a stablecoin-related project, according to KuCoin’s chief investment officer. He also stated,
“KuCoin is always interested in building a stronger infrastructure for the financial system. To ensure the stability of the financial market, stablecoin designers need to find a balance between over-collateralisation and efficiency. We are happy to see more algorithm-based stablecoins but they need to prove their resiliency.“
https://cointelegraph.com/news/kucoin-leads-10m-funding-for-chinese-yuan-stablecoin-issuer
5️⃣ Gensler Suggests Proof-Of-Stake Tokens Are Securities 🤔
SEC Chair Gary Gensler has reiterated his stance that all proof-of-stake cryptocurrencies are securities after a reporter asked for Gensler’s thoughts on the recent statements in which CFTC Chair Rostin Behnam labelled Ether as a commodity.
Gensler stated,