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Hey Guys,
There has been a great deal of talk about whether the US dollar could soon lose its global reserve status. There have been a number of countries that have made moves to limit their dependence on the dollar as they turn to other currencies as mediums of international exchange.
Indeed, the recent weaponisation of the dollar against countries such as Russia have demonstrated the risk of relying on the dollar.
So, could the dollar lose its reserve status? Could we see a "BRICS" currency emerge to challenge its dominance?
That's what I am going to take you through in my video today. I will explain exactly why the US dollar is the world's reserve currency and how it came to be like that. I will also analyse whether the current alternatives have the characteristics to be a new reserve currency and, if so, how long it could take.
There is a lot more to this discussion that meets the eye. So, this is a video that you can't afford to miss!
🚨Rally Report🚨
SOLANA
The price of SOL has rallied by 5% in the past 24 hours.
WHY?!
🎉 Investors remain bullish after the token’s price broke out from a 11-month long price resistance trendline.
🤔 Render Network recently stated that it is planning to migrate to the Solana blockchain. This news coupled with the market’s larger rally saw SOL sustain its bullish price movement.
If you want to buy or trade SOL, 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,
Ever since ChatGPT was released, everyone has been wondering how their jobs will be impacted. Will ChatGPT replace some of us completely? Or will it simply make it easier for us to do our daily tasks? What does that even mean?
Well, it turns out that OpenAI, the creator of ChatGPT, co-authored a study about exactly that. They examined just how much of an impact AI could have on the job market, and even drilled down into specific occupations.
I won’t spoil anything here, but let’s just say that a lot of jobs are at risk, and not the kinds that you’d expect. However, this assumes that governments will allow AI to continue developing unchecked, which I seriously doubt.
Enjoy!
🚨Rally Report🚨
RENDER
The price of RNDR has rallied by 17% in the past 24 hours.
WHY?!
🔄 The Render team recently announced that the project was considering migrating to layer 1 blockchain network Solana as it would help meet the demand of its technical needs and implement the burn-and-mint equilibrium (BME).
🤔 The results of the vote on the proposal indicated that holders were supportive of the move.
If you want to buy or trade RNDR, 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,
Hope you all had a great Easter!
I reckon some of you still have today off, and if so, I’m thankful that you decided to spend some of that time to keep up with the Coin Bureau! Trust me when I say you don’t want to miss today’s weekly crypto review.
Despite the sideways price action, there’s been some pretty crazy stuff going on in crypto and macro. On the crypto side, the Shanghai upgrade will happen in less than 48 hours. It could cause some volatility for ETH, assuming unstaked ETH will be sold.
On the macro side, there’s been lots of discussion about the death of the US dollar. I take this as a contrarian indicator of sorts, meaning that I think we’re about to see a dollar rally for some unknown reason. Let’s hope it’s not another war.
And finally, we finish off with some altcoin analysis by Ben Cowen as he looks at ETH, ADA & SOL's historical performance vs. BTC
Enjoy!
🚨Rally Report🚨
STACKS
The price of STX has rallied by 7% in the past 24 hours.
WHY?!
📈 Possible trend reversal following a breakout from the falling wedge pattern.
🤔 Social metrics suggest that there is a return in bullish sentiments for the token. Coincidentally, 21Shares recently announced an ETP offering investors exposure to the Stacks Bitcoin L2 group. The product is listed on the BX Swiss Exchange under the ticker ASTX.
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,
As you know, governments in Western countries have been considering banning TikTok over the last few months. This makes sense on the surface given that the app has uncomfortably close ties to China, and promotes questionable content to users.
Upon closer examination however, many of these moves to ban TikTok are a Trojan Horse for unprecedented internet censorship. The recent RESTRICT Act proposed by US politicians is one example, and it’s taken the internet by storm.
Under the RESTRICT Act, you could face up to 20 years in prison, 1 million dollars in fines, and have your property confiscated if you say, use a VPN to access an app like TikTok. This scratches the surface of the insanity inside this bill, which is why we have to unpack it.
Enjoy, if you can…
🚨🚨 New Channel Alert!! 🚨🚨
In case you guys didn't know, the Coin Bureau has a new channel!
This is a channel which is dedicated to crypto trading and Technical Analysis.
It is being run by Dan Cheung, a verified proprietary funded trader.
On Coin Bureau Trading, you will learn everything you need to know about all the aspects of crypto trading that you don't get on the main channel.
So, if you are looking to learn about trading, then this is the channel for you!
👉 CoinBureauTrading" rel="nofollow">https://www.youtube.com/@CoinBureauTrading
Notably, the white paper recommends additional modifications to tax regulations after firms began leaving for other jurisdictions because of heavy tax burdens in the country. These include tax exemptions for companies that possess tokens issued by other firms that are not meant to be traded in the short term. Additionally, it offers to allow investors to carry over losses for up to three years and suggests only taxing cryptocurrency when it is converted into fiat money.
https://cointelegraph.com/news/japan-pushes-for-friendlier-environment-for-crypto-with-web3-proposals
🚨Rally Report🚨
INJECTIVE
The price of INJ has rallied by 10% in the past 24 hours.
WHY?!
🎉 Web3 notification project Notifi announced their official integration with Injective, enabling dApps built on Injective to provide instant user notifications and alerts.
🤔 Injective posted a tweet hinting at an incoming “mainnet migration,” possibly referring to the mainnet migration of its SVM rollup Cascade. This has made investors bullish.
If you want to buy or trade INJ, 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,
You might have heard about the recent hearings about the banking crisis in the United States, but I bet you didn’t take the time to watch them. That’s because US politicians spent over 8 hours grilling US regulators.
Naturally, I took it upon myself to summarise everything that was said, because I believe it’s important to know. What happened to banks in the United States could be the beginning of a global trend, and we could see similar responses.
To be honest, I’m shocked at how incompetent these US regulators seem to be. The only other explanation for how they let this happen is exactly that – they let it happen. What comes next could be even scarier…
Enjoy!
Hey Guys,
As with anything in life, a tradesman is only as good as the tools that he has at his disposal. As a crypto user, the same can be said about the tools that you have at your fingertips.
That's why in my video today, I am going to be taking you through some of the best mobile apps in the crypto space. Apps that me and the team here at Coin Bureau rely on almost daily. Everything from wallets to exchanges, news sources to communication apps.
I also have a few hints and tips which could help you to get the most out of these apps.
This is a vid you can't afford to miss!
🚨Rally Report🚨
ICON
The price of ICX has rallied by 16% in the past 24 hours.
WHY?!
🗣 ICON tweeted that its development team feels confident about a Blockchain Transmission Protocol (BTP) 2.0 testnet being possible soon after the network successfully deployed its BTP contracts on the ICON Berlin testnet, BSC testnet, and ETH Sepolia.
🇰🇷 The South Korean government’s recent move to discuss more favourable crypto regulations has made investors bullish on South Korea-linked crypto projects. Due to ICX’s local roots, it is quite popular among South Korean traders. Data from CoinGecko reveals that the ICX-Korean won token pair saw over $420 million in trading volume on Upbit, a prominent South Korean exchange.
If you want to buy or trade ICX, we have a 40% trading fee discount for you on OKX 👇
https://www.coinbureau.com/deals/trading/okx/
Hey Guys,
It’s been amazing to see so many people waking up to the reality of central bank digital currencies or CBDCs. Believe it or not, but even some government entities are starting to sound the alarm about the issues associated with CBDCs.
Once such government entity is the United States Office of Financial Research or OFR, which reports directly to the US Department of the Treasury. The OFR recently published a study warning that CBDCs could increase financial risks.
The thing is that the OFR published a similar study last summer and claimed the exact opposite. This got me interested in the study. Lo and behold, it looks like the OFR is trying to attribute the risks associated with CBDCs to stablecoins.
This is a video you don’t want to miss!
🚨Rally Report🚨
DOGECOIN
The price of DOGE has rallied by 28% in the past 24 hours.
WHY?!
🐶 Dogefather Elon Musk replaced Twitter’s iconic bird logo with a picture of the Shiba Inu meme present in Dogecoin’s logo. The new logo is only visible on the Web App and not the iOS or Android app currently.
📊 This rally of DOGE is consistent with price action previously seen with Musk’s past mentions of Dogecoin on popular social platforms.
If you want to buy or trade DOGE, 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! – (12/04/23)
Here are some of today’s most important headlines:
1️⃣ DeFi Could Be Forced to Incorporate and Certify, French Central Bank Says 🇫🇷
A recent report written by members of the Fintech-Innovation Hub at the French central bank’s Prudential Supervision and Resolution Authority reveals that regulators are planning to force DeFi projects to incorporate or prove that they meet governance and security norms. Notably, the report comes shortly after the U.S. Treasury also made similar observations in its recent DeFi risk report.
https://www.coindesk.com/policy/2023/04/11/defi-could-be-forced-to-incorporate-and-certify-french-central-bank-says
2️⃣ Gaming Hardware Giant Razer Launches Web3 Incubator 🚀
Popular video game hardware company Razer has reportedly launched an investment fund called “zVentures Web3 Incubator” (ZW3I) to help fund Web3 companies and developers making blockchain-based games. ZW3I stated that it aims to help bring Web3-enabled games to mainstream audiences, and that it will select developers who possess “a strong track record in creating successful games” for its incubator program.
Razer’s Director of Blockchain Lawrence Lin stated,
“Presently, numerous blockchain games prioritise the use of blockchain technology over creating an engaging and entertaining gameplay experience, leading to a dearth of player attraction and retention. We believe that the foundation of any successful game (be it Web2 or Web3) is immersive and engaging gameplay,”
https://decrypt.co/125851/gaming-hardware-giant-razer-web3
3️⃣ a16z Unveils New Crypto Index and Report 🔎
Venture capital firm Andreessen Horowitz’s (a16z) recently released "State of Crypto 2023" report states that the share of global crypto developers based in the United States has declined by 26% from 2018 to 2022.
The firm also released an index that tracks on a monthly basis 14 technology-focused adoption and innovation parameters that offer a health snapshot for the industry. These parameters include the number of active developers, mentions of crypto in academic research, and volumes across decentralised exchange venues.
https://www.theblock.co/post/225539/a16z-state-of-crypto-index
4️⃣ Wyoming Defends Crypto-Friendly Bank Charter Regime in Custodia Bank’s Lawsuit with Fed ⚖️
Wyoming’s Attorney General Bridget Hill has reportedly filed a motion to “intervene in the defense” of the state’s regulation of Special Purpose Depository Institutions (SPDIs). Specifically, it seeks to intervene in the case between Custodia Bank (the first financial institution to be approved for a bank charter under the SPDI framework) and the Federal Reserve System.
The court filing reads,
“The [report] the Kansas City Fed provided Custodia makes clear that its view of perceived inadequacies in Wyoming’s laws and regulations for SPDIs is partially responsible for its denial. The State of Wyoming believes that this changes the tenor of the suit and in turn questions the legitimacy and viability of the State’s statutory framework.”
https://cointelegraph.com/news/wyoming-defends-crypto-friendly-bank-charter-regime-in-custodia-bank-s-lawsuit-with-fed
5️⃣ Metalpha Raising $100 Million Fund to Woo Chinese Bitcoin Buyers 💰
Hong Kong-based Metalpha is reportedly launching a licensed $100 million fund called the ‘Next Generation Fund’ in HK to give investors exposure to Grayscale’s digital asset products, including the Grayscale Bitcoin Trust (GBTC).
Metalpha’s president Adrian Wang stated,
“A lot of our clients are family offices with traditional backgrounds, rather than pure crypto or pure web3 native investors. It’s overseas Chinese institutions — some of them are family offices, some of them are public companies.”
https://www.bloomberg.com/news/articles/2023-04-12/metalpha-raising-100-million-fund-to-woo-chinese-bitcoin-buyers
📣📣 COIN BUREAU NEWSFLASH! – (11/04/23)
Here are some of today’s most important headlines:
1️⃣ Bitcoin Breaks Above $30K for First Time Since June 2022 🚀
After almost 10 months, the price of Bitcoin has surged past the $30,000 mark, with the coin trading at $30,131 at the time of writing. Bitcoin last topped $30,000 on June 10, 2022 after which it fell all the way down to the low $20,000 levels for most of late last year and into the first weeks of 2023.
Richard Mico, the U.S. CEO and chief legal officer of Banxa, a crypto payment-and-compliance infrastructure provider stated,
“It’s clear that the market is pricing a slowdown in growth, and in turn a loosening of monetary policy by the Federal Reserve over the course of 2023. For evidence of this, just look at the bond market. There will likely still be a lot of liquidity injected into the market as a result. Already, Bitcoin has been the best-performing asset of 2023, and it usually is the asset that responds most quickly and violently to these kinds of monetary shifts."
https://www.coindesk.com/business/2023/04/11/bitcoin-breaks-above-30k-for-first-time-since-june-2022/
2️⃣ Etherscan Hides Zero-Value Token Transfers to Deter Address-Poisoning Attacks 🙌
Blockchain explorer Etherscan has reportedly disabled the display of zero-value token transfers on its website. However, users who wish to see the transfers can manually switch on the display from the website’s setting page. Etherscan stated that the move was aimed at deterring “address poisoning” attacks that have phished and spammed unsuspecting users.
https://cointelegraph.com/news/etherscan-hides-zero-value-token-transfers-to-deter-address-poisoning-attacks
3️⃣ Hackers Rob South Korean Exchange of $13M in Bitcoin, Ethereum, Other Assets 🥶
South Korean crypto exchange GDAC has reportedly lost $13 million worth of crypto assets after hackers compromised one of its hot wallets. According to the company, the stolen assets represent roughly 23% of its total holdings, and included 60.8 Bitcoin (BTC), 350.5 Ethereum (ETH), 10 million WEMIX tokens, and 220,000 in USDT. The exchange has suspended deposits and withdrawals while authorities investigate the matter.
https://decrypt.co/125834/hackers-rob-south-korean-exchange-13m-bitcoin-ethereum-other-assets
4️⃣ Montenegro's Central Bank to Develop CBDC Pilot with Ripple 🪙
The Central Bank of Montenegro has reportedly signed an agreement with blockchain provider Ripple to develop a strategy and pilot program to identify the practical application of a Montenegrin digital currency in the form of a CBDC or stablecoin. Specifically, according to CBCG Governor Radoje Zugic, the project will "analyse the advantages and risks that CBDCs or national stablecoins could pose concerning electronic means of payment availability, security, efficiency, compliance with regulations, and most importantly, the protection of end users’ rights and privacy.”
https://www.coindesk.com/policy/2023/04/11/montenegros-central-bank-to-develop-cbdc-pilot-with-ripple
5️⃣ Winklevoss Twins Lend $100 Million to Their Gemini Crypto Platform 🔎
According to a Bloomberg report, crypto exchange Gemini had received $100 million in the form of a loan from its founders Tyler and Cameron Winklevoss. Notably, the loan came at a time when regulators were scrutinising the exchange’s activities especially its Earn program which users reported that the exchange had falsely advertised as FDIC insured.
https://www.bloomberg.com/news/articles/2023-04-10/winklevoss-twins-lend-100-million-to-gemini-crypto-exchange
📣📣 COIN BUREAU NEWSFLASH! – (10/04/23)
Here are some of today’s most important headlines:
1️⃣ Crypto Exchange BitGet Starts $100M Asia-Focused Web3 Fund 💰
Crypto derivatives exchange Bitget has reportedly launched a $100 million fund focused on supporting the next generation of Web3 projects. Bitget has stated that potential partners in the initiative include several venture capitalists such as Foresight Ventures, ABCDE Capital, SevenX Ventures, DAO Maker, and Dragonfly Capital.
Gracy Chen, the Managing Director of Bitget, stated,
“Despite the bear run, Bitget has always been supporting promising and innovative projects and the development of the Web3 environment with a focus on BUIDL. The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ strategy in 2023.”
https://www.coindesk.com/business/2023/04/10/crypto-exchange-bitget-starts-100m-asia-focused-web3-fund
2️⃣ Texas Lawmakers Propose a Gold-Backed State Digital Currency ⚖️
According to reports, two Texas lawmakers- Senator Bryan Hughes and Representative Mark Dorazio, have individually introduced identical bills for creating a state-based digital currency backed by physical gold. Notably, the bills come at a time when several United States lawmakers have been rallying against the introduction of a central bank digital currency (CBDC).
https://cointelegraph.com/news/texas-lawmakers-propose-a-gold-backed-state-digital-currency
3️⃣ Bank Of England Beefs Up Plans for Digital ‘Britcoin’ Currency 🪙
According to a report by the Sunday Times, the Bank of England (BoE) is looking to build a 30-member strong team to develop its CBDC- comically dubbed as ‘Britcoin’ by the media. Specifically, the BoE is looking to hire engineers to lead the project, including a “digital pound solution architect” and a “security architect.” Both roles reportedly pay up to £80,000.
https://www.thetimes.co.uk/article/bank-of-england-beefs-up-plans-for-digital-britcoin-currency-pm7llbqtj
4️⃣ Sam Bankman-Fried Declared Alameda ‘Unauditable,’ New Report Shows 🔎
In an April 9 court filing in a Delaware Bankruptcy Court, FTX’s new CEO John J Ray III gave his first detailed account of the control failures at FTX. According to the filing, FTX’s restructuring team “identified extensive deficiencies in the FTX Group’s controls,” including a lack of appropriate financial and accounting controls, inadequate record-keeping and near non-existent cybersecurity defences.
The report also states that Alameda Research “often had difficulty understanding what its positions were, let alone hedging or accounting for them.” Notably, Former CEO Sam Bankman-Fried described Alameda in internal communications as “hilariously beyond any threshold of any auditor being able to even get partially through an audit.”
https://www.theblock.co/post/225497/sam-bankman-fried-alameda-report
📣📣 COIN BUREAU NEWSFLASH! – (09/04/23)
Here are some of today’s most important headlines:
1️⃣ Binance.US Struggles to Find Bank Partners in The United States
According to a Wall Street Journal report, Binance.US- the U.S. subsidiary of global crypto exchange Binance, is facing trouble in finding a bank for its customers’ cash deposits after the failure of its previous banking partners- Signature Bank and Silvergate Capital. Binance.US is currently holding customer funds via the fintech firm Prime Trust.
Sources reportedly state that this is likely due to the recent regulatory crackdown on banks with crypto clients as well as the U.S. Commodity Futures Trading Commission’s (CFTC) recent lawsuit on Binance Holdings and its CEO, Changpeng “CZ” Zhao, for alleged trading violations.
https://www.wsj.com/articles/binance-us-struggles-to-find-bank-to-take-its-customers-cash-83150ac5
2️⃣ SushiSwap Hacked, Head Chef Says 'Revoke All Chains' 🥶
DeFi platform SushiSwap has reportedly fallen victim to an exploit involving an approve-related bug on the RouterProcessor2 contract, with one user reporting a loss of more than $3.3 million. Security firm PeckShield and SushiSwap Head Chef Jared Grey have recommended revoking permissions on all chains. According to the ‘The Block’ Research Analyst Kevin Peng, more than 190 Ethereum addresses and 2000 Arbitrum addresses have approved the problematic contract.
https://www.theblock.co/post/225473/sushiswap-hack
3️⃣ Midjourney Uses Photo Uploads to Help You Craft Prompts
The generative AI design website ‘Midjourney’ has reportedly launched a new feature called ‘Describe’ to allow creators to craft prompts by uploading an existing picture as the basis for their art projects. Similar to other Midjourney commands, creators will need to enter a “/describe” command into the text box for accessing the tool.
https://decrypt.co/125746/midjourney-uses-photo-uploads-to-help-you-craft-prompts
4️⃣ Bill Protecting Bitcoin Mining Rights Passes in Arkansas Senate and House ⚖️
The Arkansas Data Centers Act of 2023, a bill seeking to regulate Bitcoin mining activity in the state of Arkansas, has reportedly passed in the state’s House of Representatives and Senate. If approved by the governor’s office, the bill will provide BTC miners in the state with clear guidelines and protect them from discriminatory regulations and taxes.
Specifically, the legislation will provide crypto miners with the same rights as data centers and expressly prohibits the Arkansas government from imposing a different requirement for a digital asset mining business than what is applicable to data centers.
https://cointelegraph.com/news/bill-protecting-bitcoin-mining-rights-passes-in-arkansas-senate-and-house
📣📣 COIN BUREAU NEWSFLASH! – (08/04/23)
Here are some of today’s most important headlines:
1️⃣ Do Kwon's Millions Are Not in South Korea, Prosecutors Say ⚖️
According to local media reports, South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with nine Terraform Labs executives, out of which co-founder Do Kwon was directly linked with about 91.4 billion won ($69 million).
However, prosecutors have stated that none of the assets linked to Do Kwon is recoverable or under the jurisdiction of the South Korean authorities. This is reportedly due to Do Kwon converting the illicit assets into Bitcoin using overseas crypto exchanges.
https://www.coindesk.com/policy/2023/04/07/do-kwons-millions-are-not-in-south-korea-prosecutors-say-report
2️⃣ dYdX To End Support for Canadian Users, Cites Regulatory Environment ❌
In a blog post published yesterday, decentralised derivatives exchange dYdX announced that it was closing off access to its platform for Canadian users. Specifically, the platform stated that Canadian users will no longer be onboarded onto the platform from today and that existing users from the country will be restricted to only withdrawing funds from April 14th. The exchange cited Canada’s current regulatory environment as the reason behind the move. It also stated that it might resume services in the country if the regulatory climate in the country changed in the future.
https://www.theblock.co/post/225452/dydx-ends-support-for-canadian-users
3️⃣ Thailand’s Opposition Party Promises $300 Crypto Airdrop if it Wins General Election 💰
In a recent campaign, the Pheu Thai Party, a political party in opposition to the current prime minister in Thailand, proposed giving all Thai residents 16 years and older a stipend of 10,000 Thai baht (roughly $300) in digital currency should it win the upcoming general election scheduled on May 14th. Srettha Thavisin, one of the party’s candidates for prime minister, reportedly described the initiative as a basic-income style economic stimulus package aimed at helping the local economy using blockchain technology.
https://www.bloomberg.com/news/articles/2023-04-07/thai-opposition-party-plans-15-billion-digital-tokens-to-resuscitate-economy
4️⃣ Congressman Tom Emmer Says SEC Chair Gary Gensler Is A ‘Bad Faith Regulator’ 🇺🇸
In a recent episode of the Unchained podcast, pro-crypto Congressman Tom Emmer called U.S. SEC chair Gary Gensler a “bad faith regulator” due to his approach to cryptocurrency regulation. Specifically, Emmer pointed to the SEC’s recent Wells Notice to Coinbase. He stated that the issuance of Wells Notice despite Coinbase’s efforts to work with the agency was a prime example of “Gary Gensler not regulating in good faith.”
https://cointelegraph.com/news/congressman-tom-emmer-says-sec-chair-gary-gensler-is-a-bad-faith-regulator
📣📣 COIN BUREAU NEWSFLASH! – (07/04/23)
Here are some of today’s most important headlines:
1️⃣ DeFi Needs to Comply with Anti-Money Laundering Rules, US Treasury Says 🔎
Earlier today, the U.S. Department of the Treasury released its “Illicit Finance Risk Assessment of Decentralised Finance” report which was commissioned by the Biden administration.
In its report, the Treasury notes that there are several risks associated with DeFi and has stated that DeFi transactions, including those done with virtual currencies, need to comply with anti-money laundering and sanctions laws.
While it stated that risks identified include abuse by “ransomware cybercriminals, thieves, scammers, and Democratic People’s Republic of Korea (DPRK) cyber actors,” it conceded that this use of DeFi still remains small in comparison to activities conducted with government-issued fiat currency.
https://www.bloomberg.com/news/articles/2023-04-06/defi-needs-to-comply-with-anti-money-laundering-rules-us-treasury-says
2️⃣ Unreleased David Bowie Recording to Debut as Music NFT 🎶
Yesterday, Gala Music, a subsidiary of Web3 startup Gala Games, announced that it was partnering with music producer Larry Dvoskin and publisher Warner-Chappell Music to release a never-before-heard version of Bowie’s hit 1983 song “Let’s Dance.”
Specifically, Gala Music stated that it plans to launch 3,003 NFTs as part of a limited series that showcase Bowie-inspired artwork on April 14. Each NFT will reportedly grant its owner exclusive access to an unreleased version of the song, which Dvoskin co-produced with Bowie in 2002. Additionally, each NFT will be sold on a pay-what-you-wish model; with the initial proceeds from the sale going to MusiCares, a charity that provides health and human services to the music community.
https://decrypt.co/125653/unreleased-david-bowie-recording-debut-music-nft
3️⃣ Magic Eden Rolls Out Bitcoin Ordinals NFT Creator Launchpad 🚀
NFT marketplace Magic Eden which currently has a secondary marketplace for Bitcoin Ordinals is reportedly rolling out a creator launchpad to help creators with the primary sale of their Bitcoin-based NFT collections.
The launchpad will reportedly help onboard creators to the ecosystem by facilitating the creation of tokens on the Bitcoin network. Tiffany Huang, the Head of Marketing at Magic Eden, stated
“We're on the ground level listening to what is needed from all of these subgroups of the Ordinals community, and we will look to deliver on those needs. We think the involvement of our expertise and resources is much needed to continue the growth of Ordinals and encourage a flourishing ecosystem."
https://www.coindesk.com/web3/2023/04/06/magic-eden-rolls-out-bitcoin-ordinals-nft-creator-launchpad
4️⃣ zkSync Develops 'Solution' To Unfreeze $1.7 Million Stuck in Smart Contract 🙌
Matter Labs, the team behind the layer 2 scaling solution zkSync, has reportedly developed a solution to unlock the 921 ETH ($1.7 million) currently stuck in one of its new smart contracts, GemstoneIDO.
zkSync stated that the funds in the contract were locked due to an issue with using the .transfer() function which went unnoticed due to the Gemholic team deploying contracts on the Era mainnet without testing on the testnet or a local node. zkSync stated that it has been working to resolve the issue with a minor protocol-level change, details of which will reportedly be released shortly.
https://www.theblock.co/post/225364/zksync-unfreeze-millions-stuck
5️⃣ Japan Pushes for Friendlier Environment for Crypto with Web3 Proposals 🇯🇵
The Web3 project team of Japan's ruling Liberal Democratic Party has reportedly published a white paper laying out recommendations for boosting the crypto industry in the country. The recommendations are part of Prime Minister Fumio Kishida's strategy of promoting technology, a project called "Cool Japan."
📣📣 COIN BUREAU NEWSFLASH! – (05/04/23)
Here are some of today’s most important headlines:
1️⃣ Cash App Creator Dies Following Stabbing In San Francisco 🔎
Bob Lee, the former CTO of Square and the founder of Cash App, has reportedly been killed in a stabbing incident in San Francisco. According to the police, Lee was found at about 2.35 a.m. on the 300 block of Main Street in San Francisco, near the entrance to the Oakland Bay Bridge on April 4th. The San Francisco Police Department has stated that it actively investigating Lee’s death as a homicide and has asked those with information to contact the department. As of the time of writing, no arrests have been made.
https://cointelegraph.com/news/cash-app-creator-dies-following-stabbing-in-san-francisco
2️⃣ Bitcoin Marketplace Paxful To Shut Down, CEO Blames Staff Departures, Regulatory Challenges ❌
Peer-to-peer Bitcoin marketplace Paxful is reportedly “suspending” operations due to "key staff departures" and challenging regulatory conditions. CEO Ray Youssef also hinted that there was a possibility that the platform would remain shut for good. Paxful has asked users to explore self-custody and trade elsewhere in the meantime.
https://www.theblock.co/post/224844/bitcoin-paxful-shut-down
3️⃣ Brazilian Investment Bank BTG Pactual Brings Out Dollar-Backed Stablecoin 🏦
BTG Pactual, one of Latin America's largest investment banks, has launched ‘BTG Dol’- the world's first dollar-backed stablecoin issued by a bank. BTG Pactual has stated that the stablecoin which is issued through its crypto platform Mynt will allow customers to "dollarize part of their equity in a simple, efficient and secure manner."
https://www.coindesk.com/business/2023/04/05/brazilian-investment-bank-btg-pactual-brings-out-dollar-backed-stablecoin
4️⃣ OpenSea Launches No-Fee 'Pro' Marketplace with NFT Rewards 🚀
Popular NFT marketplace OpenSea has announced the launch of ‘OpenSea Pro’- an advanced NFT marketplace for professional NFT traders. OpenSea Pro is reportedly a rebrand of Gem v2, which is the newest version of Gem’s NFT aggregation platform.
OpenSea has stated that its new marketplace boasts a variety of perks for professional traders including, 0% fees, listings from 170 marketplaces, advanced “floor sweeping”, instant sales, inventory management, the ability to optimise gas fees for efficient trades, a watchlist feature and more.
https://decrypt.co/125410/opensea-no-fee-pro-marketplace-nft-rewards
5️⃣ LayerZero Reaches $3 Billion Valuation in Series B Funding Round 💰
LayerZero Labs, the developer of the blockchain interoperability protocol LayerZero, has reportedly raised $120 million at a valuation of $3 billion in a Series B funding round. The round saw participation from 33 investors including a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea and Christie's. The company has stated that it plans to use the capital to increase its headcount and expand its reach into the Asia-Pacific region.
https://www.theblock.co/post/224762/layerzero-series-b
📣📣 COIN BUREAU NEWSFLASH! – (04/04/23)
Here are some of today’s most important headlines:
1️⃣ WonderFi Merges with Coinsquare and CoinSmart to Form Regulated Crypto Asset Platform 🤝
Canadian crypto exchanges WonderFi Technologies Inc, Coinsquare Ltd, and CoinSmart Financial Inc have revealed plans to merge, creating Canada’s largest regulated crypto asset trading platform with over 1.65 million registered users and more than $600 million in assets under custody.
According to the announcement, the newly merged company will offer a wide range of diversified products and services, including retail and institutional crypto trading, staking products, business-to-business crypto payment processing, sports betting, and gaming.
https://cointelegraph.com/news/wonderfi-merges-with-coinsquare-and-coinsmart-to-form-regulated-crypto-asset-platform
2️⃣ Euler Hacker Returns $31 Million, Marking End To ‘Recoverable Funds’ in DeFi Exploit 🔎
According to a tweet by DeFi platform Euler Finance, the hacker behind the $197 million exploit of the platform has returned all “recoverable funds.” The hacker reportedly sent back $31 million worth of assets comprising of 10,580 ETH and $12 million in DAI stablecoins through three transactions. After accounting for the 10% bounty that the project had previously given, this has brought the total value of the returned funds to over $177 million, which represents 90% of the anticipated recoverable funds from the hack.
https://www.theblock.co/post/224705/euler-hacker-returns-funds
3️⃣ Yuga Labs Joins Gucci to Announce Otherside-Themed Jewellery 💎
Yesterday, Yuga Labs and luxury fashion house Gucci revealed “Otherside: Relics by Gucci” as the collaborative project the teams have been working on. The project will reportedly feature a limited-edition series of physical Gucci products and associated NFTs tied into the lore of Otherside, Yuga’s ape-themed metaverse game.
The ‘KodaPendant’ will reportedly be the first "Relic" to be released via Yuga’s collaboration with Gucci. Along with representing a physical piece of jewellery, the KodaPendant will act as a utility NFT that will unlock numerous perks within the Otherside metaverse. Exactly 3,333 KodaPendants will be made available for sale beginning on Thursday, April 6, at 6:00 pm EST.
https://decrypt.co/125360/yuga-labs-joins-gucci-to-announce-otherside-themed-jewelry
4️⃣ Cardano Gets Onchain Gaming Boost as Paima Layer 2 Goes Live 🎮
Paima Studios has launched the Cardano-based layer-2 network Paima which features a new cross-chain network integration that will allow users of Cardano and other chains to play any blockchain-based games without needing to bridge tokens to another network. This will allow developers to migrate their games built on other networks to Cardano without having to move assets using Paima. The network also reportedly supports a new kind of NFT called ‘Stateful NFTs’ that can evolve based on arbitrary conditions over time as users play the game.
https://www.coindesk.com/tech/2023/04/04/cardano-gets-onchain-gaming-boost-as-paima-layer-2-goes-live
5️⃣ Binance Market Share Hits Lowest Since November After CFTC Lawsuit, End of Zero-Fee Trading 📉
According to a recent report by blockchain analytics platform Kaiko, crypto exchange Binance recorded its lowest BTC trading volume on Sunday since July 4, 2022. The exchange’s global market share, which peaked at over 70%, has also dropped to about 58% after the CFTC announced its lawsuit against the exchange.
The trading volume for its 13 BTC spot trading pairs that featured a no-fee trading promotion has also dropped to about 30% after the platform announced that it was halting the program. The trading pairs once accounted for roughly half of the exchange’s volume.
https://www.coindesk.com/markets/2023/04/04/binance-market-share-hits-lowest-since-november-after-cftc-lawsuit-end-of-zero-fee-trading