137999
Get the latest updates from Guy straight to your Telegram 📲 Includes: - Guy's trades 📈 - Portfolio updates ⚖️ - announcement of video's in the pipeline and coin's on our watchlist 👀 - guy.eth
5️⃣ Dubai Reprimands Three Arrows Founders Over New Crypto Project ❗️
Dubai’s Virtual Assets Regulatory Authority (VARA) has reportedly issued a written reprimand to 3AC founders Su Zhu and Kyle Davies, as well as OPNX’s two other co-founders and its chief executive for operating and promoting their new digital-asset exchange OPNX without the required local license. VARA has stated that it will keep investigating OPNX’s activity “to assess further corrective measures that may be required.”
https://www.bloomberg.com/news/articles/2023-05-02/dubai-reprimands-three-arrows-founders-over-new-crypto-project
🚨Rally Report🚨
STACKS
The price of STX has rallied by 17% in the past 24 hours.
WHY?!
🎉 Earlier today, the Bitcoin network hit all-time highs on its hash rate and number of daily transactions. Specifically, the network saw a hash rate of 439 exahashes per second (EH/s) and a daily transaction volume of over 682,000 transactions with over 300,000 of those coming from Ordinals inscriptions.
🔎 The recent spike is due to the popularity of BRC-20 (Bitcoin Request for Comment number 20) assets made possible through the use of the Ordinals protocol.
📈 This has had a positive effect on the price of projects that are building on the Bitcoin network, including STX.
If you want to buy or trade STX, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
Hey Guys,
As I’m sure you’ve heard, First Republic was seized by the FDIC and immediately sold to JP Morgan over the weekend. This news was surprising but not unprecedented. Markets have been expecting this ever since the banking crisis in March.
This is because First Republic had a similar profile to Silicon Valley Bank and Signature Bank: large unrealized losses and lots of uninsured deposits. These three banks aren’t the only ones with these risk factors, so is the banking crisis over?
For now, it looks like it might be, and this could be bad news for markets. I suspect the dip we saw earlier this week was in part due to the expectation that the Fed would print money to bail out First Republic. It didn’t happen, but maybe it will next time.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (02/05/23)
Here are some of today’s most important headlines:
1️⃣ ‘Godfather of AI’ Leaves Google to Save Us From AI 🧐
Dr. Geoffrey Hinton, an artificial intelligence pioneer known as one of the "godfathers of AI" has reportedly resigned from his position at Google where he was on machine learning algorithms for more than a decade. Dr. Hinton stated that he left his position so that he could openly express his concerns about A.I. technology without worrying about how this might reflect on Google.
He admitted that despite the beneficial uses of A.I., he fears that the technology could be used irresponsibly, unleashing unintended consequences. He also stated that he was worried about the ongoing competition between tech giants like Google and Microsoft possibly resulting in a global race that will not stop without some form of worldwide regulation.
https://decrypt.co/138515/geoffrey-hinton-quits-google-ai-godfather-danger-warning
2️⃣ Coinbase Faces Suit Over Alleged Privacy Violations in Biometrics Collection ⚖️
According to a recent filing made before the California District Court, crypto exchange Coinbase has been accused of violating certain provisions of Illinois’ Biometric Information Privacy Act (BIPA).
Specifically, the complainant alleges that the exchange's lack of a written policy informing customers of the purpose, storage, usage and permanent destruction of its customers’ personal and biometric information is violative of BIPA.
https://cointelegraph.com/news/coinbase-faces-suit-over-alleged-privacy-violations-in-biometrics-collection
3️⃣ NFT Marketplace Blur Launches Blend, a Peer-to-Peer Lending Platform 🚀
Popular NFT marketplace Blur is reportedly launching Blend- a new lending protocol for NFTs, which was developed in conjunction with Paradigm's Dan Robinson and Transmissions11. Blend, which is short for Blur Lending, will reportedly enable perpetual lending, meaning that loans have no set expiration date, "allowing borrowing positions to remain open indefinitely until liquidated, with market-determined interest rates."
Blend’s whitepaper explains,
"By default, Blend loans have fixed rates and never expire. Borrowers can repay at any time, while lenders can exit their positions by triggering a Dutch auction to find a new lender at a new rate. If that auction fails, the borrower is liquidated and the lender takes possession of the collateral."
https://www.coindesk.com/web3/2023/05/01/nft-marketplace-blur-launches-peer-to-peer-lending-platform-blend
4️⃣ Nigeria’s SEC Plans to Allow Asset-Backed Tokens But Not Crypto 🇳🇬
According to a Bloomberg report, the Securities and Exchange Commission of Nigeria is considering allowing licensed digital exchanges to host tokenised coin offerings that are backed by assets including equity, debt, and property but “not crypto.” The SEC stated that it currently processing applications for digital exchanges on a trial basis, with license holders required to undergo one year of “regulatory incubation” with limited services offered under SEC monitoring to determine the firms' fitness to provide such services.
https://www.bloomberg.com/news/articles/2023-05-01/nigeria-s-sec-plans-to-allow-asset-backed-tokens-but-not-crypto
5️⃣ Binance Warns Crypto Mogul Justin Sun Against SUI Token Grab ❗️
Binance CEO Changpeng Zhao issued a public warning to Tron founder Justin Sun after the crypto mogul reportedly deposited a total of 115 million TrueUSD (TUSD) on Binance in an apparent bid to farm SUI tokens via the exchange’s launchpool campaign. Zhao stated that Binance would "take action against it" as Binance Launchpool is meant as airdrops for its “retail users, not just for a few whales.”
Hey Guys,
It’s crazy that it’s Monday already, but that’s how times goes in crypto! Last week’s price action was exciting yet uneventful. There was lots of volatility, but prices stayed mostly sideways. This could be due to issues with crypto on-off ramps.
These issues are of course related to regulatory scrutiny, which there is no shortage of these days. Exchanges have been front and center in that respect, especially Coinbase which seems to be gearing up for a war with the SEC.
To my surprise, there were some impressive moves among altcoins. Some gained as much as 50%, and I’m proud to say that I totally called that one in last week’s crypto review. Make sure to watch until the end so you don’t miss it!
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (30/04/23)
Here are some of today’s most important headlines:
1️⃣ OpenAI’s ChatGPT Re-enters Italy After Obliging Transparency Demands 🇮🇹
According to a tweet by OpenAI CEO Sam Altman, the popular interactive artificial intelligence (AI) chatbot ChatGPT is “available in Italy again.” The news comes exactly 29 days after the AI bot was banned by Italian regulators on suspicions of possible EU General Data Protection Regulations (GDPR) violations. However, Altman did not reveal the steps taken by the company to comply with the Italian regulator’s transparency demands.
https://cointelegraph.com/news/open-ai-chat-gpt-re-enters-italy-after-obliging-transparency-demands
2️⃣ Lightning Labs Aims to Help 'Bring Bitcoin to Billions' With Latest Upgrade 🚀
Lightning Labs, one of the main developers of the Bitcoin Lightning Network, has reportedly released an update to its Litd node management tool. The tool is designed to make Bitcoin and Lightning easier to use by abstracting certain features of node management so users don't have to manage them directly. The updates to Litd include a feature to "automagically" update Lightning fees and the introduction of an "account" system that allows many users to share a single Lightning node.
Lightning Labs’ head of product growth Michael Levan, stated,
“We've heard consistent feedback from the Lightning developer community about the need for increased node management automation and better developer tooling for seamlessly onboarding new Lightning users. These new features will help the Lightning developer community continue on its path to bring bitcoin to billions around the globe.”
https://decrypt.co/138381/lightning-labs-bitcoin-billions-update
3️⃣ Crypto-friendly Cross River Bank Faces FDIC Scrutiny Over 'Unsafe' Practices 🔎
The Federal Deposit Insurance Corporation has reportedly issued a consent order to crypto-friendly Cross River Bank regarding its “unsafe or unsound banking practices.” Some of Cross River Bank’s crypto clientele include the likes of Coinbase and Circle. A Cross River Bank spokesperson stated that the order is "the result of a standard review" pertaining to aspects of the bank's lending processes two years ago.
They also stated,
"We had identified areas for improvement prior to the examination and the examination identified others. Since that time, we proactively made significant enhancements to our fair lending and other programs including investing in technology and personnel. At this time many of the enhancements have been completed or will be completed in the coming months."
https://www.theblock.co/post/228835/cross-river-bank-fdic
4️⃣ Tencent Cloud to Reportedly Offer Deepfake Creation Tool At $145 🗣
Tencent Cloud, the cloud services provider arm of Chinese tech giant Tencent, has reportedly launched a new tool that will allow users to create deepfakes of any individual based on a three-minute video clip and 100 sentences of voice material. Notably, the deepfake creation service costs roughly 1,000 yuan or $145 and can develop deepfakes in Chinese and English. Tencent has stated that it intends to use the service for hosting live-streamed infomercials for the Chinese population.
https://cointelegraph.com/news/tencent-cloud-to-reportedly-offer-deepfake-creation-tool-at-145
Hey Guys,
There are a lot of price predictions out there are on Crypto Twitter and YouTube. Some people follow these religiously in the hope that whoever is giving these predictions turns out to be right.
However, real power comes from making your own predictions. It comes from being able to identify key levels and make the best guess about which direction the market is likely to go.
It's the old "Give a man a fish" proverb.
For those of you who aren't already following Dan on Coin Bureau Trading, you are missing out. In his video today, he shows you guys how to draw key price levels and how to interpret them.
You can check that out here: https://www.youtube.com/watch?v=ZttLy4WxVWg
If you find his analysis helpful, be sure to give him a like and a sub 💯
📣📣 COIN BUREAU NEWSFLASH! – (27/04/23)
Here are some of today’s most important headlines:
1️⃣ 'Rogue Developers' Behind the $1.8 Million Exploit of Merlin DEX 🔎
According to reports, the culprits behind the $1.82 million exploit of the Merlin DEX are "rogue developers" of the Merlin team based in Europe. Blockchain security firm CertiK has stated that it working with law enforcement to track down the hackers and has even offered a 20% white hat bounty if the hackers return the funds. CertiK also stated that it was working with the “remaining Merlin team” and the team behind the ZKSync network on a compensation plan for affected users.
https://decrypt.co/138023/rogue-developers-drain-merlin-dex-of-1-82-million
2️⃣ A $1.4T Financial Giant Expands Its Money Market Fund on Polygon ❗️
Franklin Templeton, the investment management giant with about $1.4 trillion in assets under management, has reportedly expanded its OnChain U.S. Government Money Fund to the Polygon blockchain. The OnChain U.S. Government Money is the first U.S. registered mutual fund to process transactions and record share ownership using a public blockchain.
Roger Bayston, the head of digital assets at Franklin Templeton, stated,
“Extending the reach of the Franklin OnChain U.S. Government Money Fund to Polygon enables the fund to be further compatible with the rest of the digital ecosystem, specifically through an Ethereum-based blockchain.”
https://www.coindesk.com/business/2023/04/26/a-14t-financial-giant-expands-its-money-market-fund-on-polygon
3️⃣ Circle Launches Cross-Chain USDC Transfer Protocol for Ethereum, Avalanche 🙌
Stablecoin Issuer Circle has launched a new mainnet protocol that lets users transfer USDC between Ethereum and Avalanche without using third-party bridges. Unlike traditional bridges which lock deposited tokens and issue new ones, the new protocol called the “Cross-Chain Transfer Protocol” (CCTP) will instead completely destroy them and issues new tokens on the receiving network.
Joao Reginatto, Circle’s vice president of product, believes the new protocol will help improve liquidity and capital efficiency in DeFi. He stated,
“With CCTP, developers can simplify the user experience and their users can trust that they are always transacting with a highly liquid, safe and fungible asset in native USDC."
https://cointelegraph.com/news/circle-launches-cross-chain-usdc-transfer-protocol-for-ethereum-avalanche
4️⃣ Bahamas Securities Watchdog Presents Comprehensive New Draft Digital Assets Act 🇧🇸
The Securities Commission of The Bahamas (SCB) reportedly published a draft of the Digital Assets and Registered Exchanges (DARE) Bill 2023 on April 25. The bill, which comes shortly after the FTX collapse, seeks to expand the definition of digital assets businesses, increase disclosure requirements for crypto staking activities and impose tighter requirements for stablecoin issuers. SCB has opened a consultation on the proposed new rules and plans to enact them by the end of the quarter.
https://cointelegraph.com/news/bahamas-securities-watchdog-presents-comprehensive-new-draft-digital-assets-act
5️⃣ Binance US to Offer Branded Web3 Domain Names on Polygon 🚀
Binance.US has reportedly partnered with web3 domain name provider Unstoppable Domains to offer branded .BinanceUS addresses on Polygon. The domain names will be made available for as little as $10 exclusively through the exchange's app in the coming weeks.
Sandy Carter, the chief operating officer and head of business development at Unstoppable Domains, stated,
"People can sign up for the .BinanceUS waitlist immediately and we expect to start launching the domains in the coming weeks. We don't have a specific date as of now, but we'll keep the community posted."
https://www.theblock.co/post/228372/binanceus-domain-name-unstoppable-domains-binance-polygon
Google Cloud, a cloud services platform offered by Google, has announced the launch of the ‘Web3 Startups Program’- a special initiative for Web3 startups that leverages collaborations and partnerships with some of the biggest companies in crypto.
The program will be available to eligible projects from pre-seed to Series A and will reportedly offer several benefits, including a private Discord channel with Google Cloud Web3 product and engineering teams, Web3 training courses, and grants from Google Cloud's foundation partners Aptos, Celo, Flow, HBAR Foundation, Near, and Solana Foundation.
https://decrypt.co/137708/google-adds-web3-features-to-cloud-offerings
On Monday, crypto exchange Binance unveiled ‘Binance Sensei’- an AI-powered chatbot that uses machine learning to source answers from Binance Academy, to help answer user questions on various topics in the Web3 space.
A spokesperson for the company stated,
“Binance strives to be at the forefront of innovation, making sure our users have access to the newest and most innovative technologies. As this new technology became available, we integrated a ChatGPT-driven tool allowing users to seamlessly navigate the vast world of blockchain and crypto education.”
https://decrypt.co/137726/binance-ai-chatgpt-chatbot-sensei-crypto-education
🚨Rally Report🚨
FLOKI INU
The price of FLOKI has rallied by 34% in the past 24 hours.
WHY?!
🎉 Crypto exchange Binance.US announced that it was opening deposits for FLOKI as the exchange prepares to list the token for trading on Tuesday.
📈 Specifically, trading in the FLOKI/USD and FLOKI/USDT pairs will begin on 25 April 2023 at 12:00 pm UTC on Binance.US.
💸 This has given new wings to the meme coin that was already seeing some price action amidst an ongoing meme coin trading season.
If you want to buy or trade FLOKI, we have an exclusive $40K Bonus & 20% trading fee discount for life on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
It’s time for another weekly crypto review. Obviously last week’s crypto crash is front and center. It seems to have been driven by a combination of crypto specific factors, mainly futures liquidations. I give you the full scoop, of course.
There were also two significant hearings about cryptocurrency last week. The first featured SEC chairman Gary Gensler and the second was about stablecoin regulations. Rest assured we’ll be unpacking the former later this week.
Last but certainly not least, Apple launched a high yield savings account for US users. This could have profound effects on the economy and the markets by extension. It seems that regulators are already preparing for another credit event…
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (03/05/23)
Here are some of today’s most important headlines:
1️⃣ Celsius Seeks to Merge UK, U.S. Entities Amid Allegations Distinction Was a ‘Sham’ ⚖️
Bankrupt crypto lender Celsius Network is reportedly seeking to combine its United Kingdom and United States entities after recent court filings allege that any supposed distinction between the two companies was a “sham.”
Specifically, the allegations refer to the relationship between UK-based Celsius Network Limited (CNL) and US-based Celsius Network LLC- a company which was set up after the U.K. Financial Conduct Authority warned CNL to cease operations in the country.
According to the court filing, Celsius stated that the migration of the two entities “resulted in intercompany chaos” that makes it hard if not impossible to disentangle each entity’s affairs. Celsius has asked the court to treat both entities as one and the same in subsequent bankruptcy proceedings in order to help prioritise the recovery of lost funds for smaller creditors instead of Series B investors.
https://www.coindesk.com/policy/2023/05/02/celsius-seeks-to-merge-uk-us-entities-amid-allegations-distinction-was-a-sham
2️⃣ Balaji Pays Out His Crazy $1M Bitcoin Bet, 97% Under Price Target 🤝
Balaji Srinivasan, the former CTO of Coinbase, has reportedly donated $1.5 million to three different entities in order to close and settle his $1 million bet on BTC 45 days ahead of time. Specifically, the three entities that received the money are self-titled “hyperinflation doubter” James Medlock ($500,000), Bitcoin Core developers ($500,000) and the non-profit charity Give Directly ($500,000).
Following the settlement, Balaji tweeted,
"I just burned a million to tell you they're printing trillions. I spent my own money to send a provably costly signal that there’s something wrong with the economy, and that it's not going to be a 'soft landing' like [Federal Reserve Chair Jerome] Powell promises – but something much worse."
https://cointelegraph.com/news/balaji-pays-out-his-crazy-1m-bitcoin-bet-97-under-price-target
3️⃣ Coinbase Launches International Perps Exchange — Starting With 5x Leverage 🚀
Crypto exchange Coinbase has officially entered the crypto perps market through its new venture- the ‘Coinbase International Exchange’. The platform which is based out of Bermuda will reportedly provide international users who wish to trade perpetual futures with a robust trading experience through its liquidation framework that “meets rigorous compliance standards.”
The firm stated,
“Coinbase International Exchange will enable institutional users based in eligible jurisdictions outside of the U.S., to trade perpetual futures. Perpetual futures accounted for nearly 75% of global crypto trading volume in 2022, creating highly-liquid markets and offering traders additional versatility in their trading strategies.”
https://www.theblock.co/post/229021/coinbase-launches-perps-exchange
4️⃣ White House Advisers Renew Push For 30% Digital Mining Energy Tax 💸
A recent online post made by the White House’s Council of Economic Advisers (CEA) has once again called for the Digital Asset Mining Energy (DAME) tax to be imposed on cryptocurrency miners. Specifically, the DAME tax will see crypto miners paying a tax equal to 30% of the mining firm’s energy costs. The CEA states that the tax will help minimise the industry’s alleged impact on climate change.
The post by the CEA reads,
“Currently, cryptomining firms do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the climate. The DAME tax encourages firms to start taking better account of the harms they impose on society.” It also added, “While crypto assets are virtual, the energy consumption tied to their computationally intensive production is very real and imposes very real costs.”
https://cointelegraph.com/news/white-house-advisors-renew-push-for-30-digital-mining-energy-tax
Sun responded by apologising and stating that Tron DAO’s primary objective in depositing TrueUSD was “to facilitate market-making between leading TUSD exchanges” and that some team members who were “not fully aware of the intended purpose for these funds” inadvertently “used a portion of them to participate in exchange campaigns," Sun added that his team “immediately contacted the exchange team and arranged for a full refund of the funds" upon realising this error.
https://www.theblock.co/post/228905/binance-cz-justin-sun-sui
📣📣 COIN BUREAU NEWSFLASH! – (01/05/23)
Here are some of today’s most important headlines:
1️⃣ Bitcoin Transactions Soar as Ordinals Barrel Past 2.5 Million, Notch Daily Record 🤩
According to data from Dune, the daily number of inscriptions made through Ordinals reached a record high of 223,000 on Saturday. This marks the first time over 200,000 inscriptions were made in a single day. Coincidentally, the daily number of transactions on the Bitcoin blockchain also reached a new all-time high yesterday. Specifically, the on-chain metric reached a record high of over 408,000 transactions on April 30th, its highest level since December 2017.
https://decrypt.co/138438/bitcoin-transactions-soar-as-ordinals-barrell-past-2-5-million-notch-daily-record
2️⃣ Gemini Looks to Mediation in Hope of Swift Resolution to Earn Debacle 🤔
According to an announcement, crypto exchange Gemini, Genesis Global, the Unsecured Creditors Committee (UCC), and the Creditor Committee have “agreed to start a 30-day mediation process to drive to a final resolution as soon as possible.” The order from Bankruptcy Judge Lane directing the mediation is reportedly expected to be entered as early as Monday.
https://www.theblock.co/post/228894/gemini-earn-mediation-dcg
3️⃣ Jack Dorsey’s Nano Bitcoin Mining Chip Heads to Prototype 🚀
Fintech firm Block has reportedly completed the prototype design of its new five-nanometre (5nm) Bitcoin mining chip which will reportedly help decentralise the supply of Bitcoin mining rigs. Notably, Block plans to make Bitcoin mining technology “open source” where possible by selling standalone ASICs and other hardware components to “optimize innovation and maximize the size of the Bitcoin mining hardware ecosystem.”
https://cointelegraph.com/news/jack-dorsey-s-nano-bitcoin-mining-chip-heads-to-prototype
4️⃣ SEC Serves $4M In Fines to Coinme Over ‘Misleading’ UpToken ICO ⚖️
The U.S. Securities and Exchange Commission (SEC) has reportedly fined crypto exchange Coinme for $4 million and accused the firm of allegedly offering unregistered securities and giving “misleading statements” on its crypto token UpToken (UP). The SEC stated that it has settled charges against Coinme, its subsidiary Up Global SEZC and the CEO of both firms, Neil Bergquist.
https://cointelegraph.com/news/sec-serves-4m-in-fines-to-coinme-over-misleading-uptoken-ico
Hey Guys,
Not sure if you guys heard, but recently there was a stablecoin hearing in the United States. In fact, it was the first stablecoin hearing, and I have a feeling it won’t be the last. That’s because stablecoins are integral to the crypto market and play an important role in geopolitics as well.
What’s unfortunate is that the hearing was overshadowed by the one featuring Gary Gensler the day before, and yet the stablecoin hearing was easily much more important. It suggests that stablecoin issuers based in the United States are in trouble and could be shut down soon.
The worst part is that the arguments that the witnesses presented for why stablecoin regulation should be allowed were arguably even worse. There was lots of discussion about tracing transactions, connecting crypto wallets to IDs, and even seizing stablecoin transactions.
This is a video you cannot miss!
📣📣 COIN BUREAU NEWSFLASH! – (29/04/23)
Here are some of today’s most important headlines:
1️⃣ Paypal Extending Crypto Transfers to More Than 60 Million Venmo Customers 💰
According to a statement by Jose Fernandez da Ponte, Paypal's senior vice president and general manager of blockchain, crypto and digital currencies, the payments company will soon allow on-chain transfers from Venmo accounts starting in May.
Ponte stated,
“You can buy a gift on Venmo and send it out. You can invite people and send it to another Venmo user, you can send it to a PayPal user. You can send it to an external wallet, you can send it to the hardware wallet, which we think is something fundamentally important. Consumers have been asking for that for a while."
https://www.theblock.co/post/228824/paypal-extending-crypto-transfers-to-more-than-60-million-venmo-customers
2️⃣ Google Cloud to Optimise Polygon zkEVM Scaling Performance 🤝
Polygon Labs has reportedly signed a multi-year agreement with Google Cloud that will see the cloud computing service provider help boost the development of the Ethereum scaling protocol’s tools and infrastructure. Specifically, the partnership is expected to advance Polygon’s zero-knowledge development.
https://cointelegraph.com/news/google-cloud-to-optimize-polygon-zkevm-scaling-performance
3️⃣ Mastercard Launches Crypto Credential Service for Cross-Border Transfers 🚀
Mastercard is reportedly partnering with public blockchain developers Aptos Labs, Ava Labs, Polygon and The Solana Foundation to launch the Mastercard Crypto Credential (MCC) service. According to the company, MCC "will establish a set of common standards and infrastructure that will help attest trusted interactions among consumers and businesses using blockchain networks."
https://www.coindesk.com/business/2023/04/28/mastercard-launches-crypto-credential-service-for-cross-border-transfers
4️⃣ Binance to Re-enter Japan Via Acquired Regulated Exchange SEBC 🇯🇵
Crypto exchange Binance is reportedly planning to reenter the Japan market through the regulated crypto exchange platform Sakura Exchange Bitcoin (SEBC) which it acquired in November 2022. According to reports, SEBC will terminate its current crypto exchange and brokerage services by May 31 and reopen as Binance Japan after June 2023.
https://cointelegraph.com/news/binance-to-re-enter-japan-via-acquired-regulated-exchange-sebc
📣📣 COIN BUREAU NEWSFLASH! – (28/04/23)
Here are some of today’s most important headlines:
1️⃣ Binance CEO Denies His Net Worth Is $28 Billion: 'Numbers All Wrong' ❌
Binance CEO Changpeng Zhao (CZ) has reportedly denied the accuracy of an estimate of his personal wealth made by Bloomberg in a report published on Tuesday. CZ stated that his personal wealth was nowhere near Bloomberg’s $28.2 billion estimate. He began his response with the number "4"- his personal code for "Ignore FUD, fake news, attacks, etc."
https://www.theblock.co/post/228592/binance-ceo-cz-networth
2️⃣ Robinhood Launches Fiat-To-Crypto On-Ramp for Self-Custody Wallets and DApps 🚀
Yesterday, at Consensus 2023, Robinhood Markets announced the launch of its new fiat-to-crypto on-ramp service called “Robinhood Connect.” Web3 projects can reportedly embed the service directly into their applications. The service is currently available exclusively on the MyDoge, Giddy and Slingshot ecosystems, but upcoming support for Exodus and Phantom has been announced.
https://cointelegraph.com/news/robinhood-launches-fiat-to-crypto-on-ramp-for-self-custody-wallets-and-dapps
3️⃣ Crypto Storage Provider Zodia Custody Raises $36M From SBI Holdings, Standard Chartered 💰
Crypto storage provider Zodia Custody has reportedly raised $36 million from Japanese financial services firm SBI Holdings and SC Ventures. The funds will be used to boost the firm’s global presence and increase its token coverage, as well as to improve its interchange and off-exchange settlement services.
Julian Sawyer, the CEO of Zodia Custody, stated,
“The future direction of the digital asset ecosystem is clear. As investors demand greater assurance and rigor, compliance is crucial to the future evolution of our sector.”
https://www.coindesk.com/business/2023/04/27/crypto-storage-provider-zodia-custody-raises-36m-from-sbi-holdings-standard-chartered
4️⃣ KuCoin Confirms an Exchange User Is Behind Alleged Daily Rug Pulls ❗️
Crypto exchange KuCoin has reportedly confirmed that the wallet address that was recently identified as being responsible for launching thousands of meme coin scams belongs to one of its users. However, the exchange stated that it will not freeze the user’s assets without any official notice from law enforcement.
KuCoin CEO Johnny Lyu stated,
“When the reporting party has provided relevant legal documents, procedures, or reporting records, we will assist and cooperate with law enforcement agencies to take temporary risk control measures in accordance with complaints and reports, user agreements and Seychelles laws.”
https://cointelegraph.com/news/kucoin-meme-coin-daily-rug-pull-confirmation
5️⃣ Hong Kong To Local Banks: Play Nice with Crypto Firms 🏦
Yesterday, the Hong Kong Monetary Authority (HKMA) issued a circular related to the access of corporate customers to banking services. In the document, HKMA said it expects that “regulated virtual asset service providers (VASPs) will be able to successfully apply for a bank account through a reasonable process” and has asked banks to adhere to a “risk-based approach” when conducting due diligence.
Specifically, it asked banks to refrain from using a one-size-fits-all approach when rejecting account opening applications. Arthur Yuen, the deputy chief executive of the HKMA, stated,
“There is no legal and regulatory requirement prohibiting banks in Hong Kong from providing banking services to virtual assets (VA) related entities.”
https://www.theblock.co/post/228743/hong-kong-crypto-bank-accounts
Hey Guys,
The question of when the next crypto bull market will begin has been on the top of everyone’s mind since coins and tokens started pumping earlier this year. The answer to when can be found in the answer to where – which countries will invest the most?
Over the last few months, it’s become clear that countries in the East will be investing the most. This includes countries in the Middle East and East Asia. This is simply because these regions are in the process of passing some promising crypto regulations.
In today’s video, I give you my list of the top 5 countries that will contribute the most to the next crypto bull market. Most of the crypto regulations they’ve proposed will come into force by the end of the year, and we could see an even bigger rally when that happens.
Enjoy!
🚨Rally Report🚨
MULTIVERSX
The price of EGLD has rallied by 12% in the past 24 hours.
WHY?!
🎉 ‘ICI D|Services’ – the institutional NFT platform created by Romania’s National Institute for Research and Development in Informatics (ICI Bucharest), launched on April 26th. The NFT platform is part of the country’s efforts to adopt Web3-powered technologies and was developed in collaboration with the MultiversX network.
📈 This has made EGLD holders bullish as the partnership between MultiversX and ICI Bucharest also involves the upcoming development of a decentralised Domain Name System (DNS) and top-level domain (TLD) ecosystem.
If you want to buy or trade EGLD, we have an exclusive $40K Bonus & 20% trading fee discount for life on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
As I’m sure you all have heard, SEC Chairman Gary Gensler recently testified to US politicians. He finally explained why the SEC has been cracking down on the crypto industry, and let’s just say the explanation was unsatisfactory.
The hearing was literally 5 hours of Gary getting grilled from all sides, with only a few allies supporting his crypto crusade There was also lots of discussion about the SEC’s infamous climate disclosure rule which will hurt small and medium sized businesses.
What Gary said was revealing to say the least, and it seems that the crypto media and social media missed a lot of what was said. That’s why I’m here to break it all down for you and tell you exactly what Gary’s testimony could mean for the crypto market.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (26/04/23)
Here are some of today’s most important headlines:
1️⃣ zkSync DEX Merlin Reportedly Hacked For $1.82 Million Immediately After Code Audit 🔎
zkSync-based decentralised exchange Merlin has reportedly been hacked for over $1.82 million this morning during a public sale of its mage (MAGE) tokens. Notably, the hack occurred shortly after the DEX received a code audit from smart-contract auditor Certik. Certik has responded by stating that is currently investigating the incident and that its initial findings suggest a potential issue with private key management and not necessarily a code exploit.
However, eZKalibur (another zkSync-based DEX) has questioned the quality of Certik's audit by claiming to have identified the malicious code responsible for the draining of funds. It stated,
"These two lines of code in the initialise function are essentially granting approval for the feeTo address to transfer an unlimited (type(uint256).max) amount of token0 and token1 from the contract's address. In this case, the feeTo address could potentially call the transferFrom function on the respective tokens to transfer tokens from the contract's address to itself."
https://www.theblock.co/post/228302/zksync-dex-merlin-hack
2️⃣ Apple's 30% Tax Mandate on iOS Is Illegal, Judge Affirms— Likely Win for Crypto, NFTs ⚖️
A United States federal appeals court has ruled that tech giant Apple violated California’s Unfair Competition Law by barring app developers from using alternative in-app payment methods besides those of its own App Store, which includes a 30% commission. The ruling comes as part of a re-evaluation of a 2020 lawsuit filed by Fortnite creator Epic Games against Apple over the tech giant's alleged monopoly in the mobile games market.
This includes an anti-steering provision that prevented iOS developers from using out-of-app payment methods through certain mechanisms such as in-app links. This along with certain other policies effectively placed a chokehold on NFT-powered apps offered in the App Store and prevented certain web3 projects such as NFT marketplaces from launching an iOS app.
https://decrypt.co/137874/apple-tax-ios-illegal-judge-affirms-good-for-crypto-nfts
3️⃣ FTX Sells LedgerX For $50M To Affiliate of Miami-Based Exchange Holding Company 💰
FTX has reportedly entered into a purchase agreement with M7 Holdings, an affiliate of Miami International Holdings (MIH), to sell its futures and options exchange and clearinghouse LedgerX. The total proceeds from the deal are expected to be about $50 million for the debtors. The deal still requires the approval of the United States Bankruptcy Court for the District of Delaware before it can be finalised. A hearing on the deal is set for May 4.
https://cointelegraph.com/news/ftx-sells-ledgerx-for-50m-to-affiliate-of-miami-based-exchange-holding-company
4️⃣ Voyager Digital Says Binance.US Sent Letter Terminating $1B Asset Buy Deal ❌
According to a tweet by bankrupt crypto lender Voyager Digital, crypto exchange Binance.US has sent a letter to Voyager informing the entity that it was terminating the $1B asset purchase deal.
The tweet reads,
"Today we received a letter from Binance.US terminating the asset purchase agreement. While this development is disappointing, our Chapter 11 plan allows for direct distribution of cash and crypto to customers via the Voyager platform,"
In reply, Binance.US posted a tweet explaining that it arrived at the decision due to the "hostile and uncertain regulatory climate in the United States" which has "introduced an unpredictable operating environment impacting the entire American business community."
https://www.coindesk.com/business/2023/04/25/voyager-says-binanceus-sent-letter-terminating-1b-asset-buy-deal
5️⃣ Google Adds Web3 Features to Cloud Offerings 🚀
📣📣 COIN BUREAU NEWSFLASH! – (25/04/23)
Here are some of today’s most important headlines:
1️⃣ Republicans’ Stablecoin Bill Draft Would Expand States’ Powers 🔎
Republicans on the House Financial Services Committee have reportedly unveiled their own version of a draft stablecoin bill, seemingly rejecting a previous version of the bill, which was published on the committee’s website ahead of a hearing on stablecoins last week.
Notably, the Republican-led version of the bill seeks to streamline the focus of the stablecoin bill by restricting focus to only regulating “payment stablecoins.” The earlier bi-partisan version of the bill sought to cover a range of stablecoin activity including custodial service providers, algorithmic stablecoins, and a study on central bank digital currencies.
Another notable change is that the Republican-led draft seeks to provide a bigger role for state regulators by placing them in charge of stablecoin issuers. The bi-partisan version of the bill required stablecoin issuers to register with the US Federal Reserve. Under the Republican-led draft, the Fed still retains ultimate enforcement authority in case the state fails to do so at its recommendation or to provide a plan responding to any concerns that have been raised.
https://www.bloomberg.com/news/articles/2023-04-24/republicans-stablecoin-bill-draft-would-expand-states-powers
2️⃣ Coinbase Takes Jab at SEC With Lawsuit Over Rule Petition ⚖️
Crypto exchange Coinbase is reportedly suing the U.S. Securities and Exchange Commission (SEC) in order to force it to respond to a petition the company submitted last year. The petition requested the commission to draft and approve a rule specific to digital assets.
Coinbase’s Chief Legal Officer Paul Grewal stated,
"From the SEC’s public statements and enforcement activity in the crypto industry, it seems like the SEC has already made up its mind to deny our petition. But they haven’t told the public yet. So, the action Coinbase filed today simply asks the court to ask the SEC to share its decision."
https://www.bloomberg.com/news/articles/2023-04-25/coinbase-takes-jab-at-sec-with-lawsuit-over-rulemaking-petition
3️⃣ Bybit Moves to Impose Mandatory KYC Rules For All Services ❗️
Crypto exchange Bybit is reportedly planning to impose mandatory Know Your Customer (KYC) identity verification for all products and services offered by it. The policy will be implemented on May 8th, after which unverified Bybit users will be restricted to closing “existing open positions or orders, return loans, or withdraw.”
https://www.theblock.co/post/227943/bybit-moves-to-impose-mandatory-kyc-rules-for-all-services
4️⃣ Musician Grimes Willing To ‘Split 50% Royalties’ With AI-Generated Music 🤖
Canadian musician and producer Grimes has tweeted that she will treat AI creators using her voice the same as other artists she collaborates with. Specifically, Grimes wrote that she would want to “split 50% royalties on any successful AI-generated song” that uses her voice. This effectively gives AI music creators the license to use her voice “without penalty” since she has “no label and no legal bindings.”
https://cointelegraph.com/news/musician-grimes-willing-to-split-50-royalties-with-ai-generated-music
5️⃣ Bitcoin Price May Hit $100K by Year End, Standard Chartered Bank Says 📈
According to a recent research report by Standard Chartered Bank, the price of BTC has the potential to reach the “$100K level by end-2024.” The research report provides a number of reasons justifying its prediction. Among those is its belief that “the much-touted 'crypto winter' is finally over." A few other reasons include the broader macro backdrop for risky assets gradually improving as the Federal Reserve nears the end of its tightening cycle and BTC’s status as a branded safe haven amidst the recent banking sector crisis.
https://www.coindesk.com/markets/2023/04/24/bitcoin-price-may-hit-100k-by-year-end-standard-chartered-bank-says
6️⃣ Binance Adds AI-Powered ‘Sensei’ Chatbot to Its Crypto Academy 🧑🏫
📣📣 COIN BUREAU NEWSFLASH! – (24/04/23)
Here are some of today’s most important headlines:
1️⃣ Kucoin Twitter Account Compromised, Exchange Promises Reimbursements ❗️
Earlier today, crypto exchange Kucoin's Twitter handle was compromised for 45 minutes with the attacker posting a series of fraudulent tweets that have led to multiple reports suggesting a total loss of roughly 22,638 USDT. Kucoin has published a statement clarifying that assets on the exchange remain secure and that it is conducting “a thorough investigation of the incident with Twitter to prevent similar occurrences in the future." KuCoin also promised to “fully reimburse all verified asset losses caused by the social media breach and the fake activity.”
https://www.theblock.co/post/227834/kucoin-twitter-hack
2️⃣ Zimbabwe’s Central Bank Introduces Gold-Backed Digital Currency 🪙
According to a report from local media outlet The Sunday Mail, the Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to serve as legal tender in the country. The move is part of the government’s initiative to stabilise the local currency from continued depreciation against the U.S. dollar.
Zimbabwe’s currency currently trades at 1,001 ZWL against $1 but is typically exchanged for 1,750 ZWL on the streets of Harare. RBZ Governor John Mangudya has stated that the current exchange rate volatility is due to the “lower than expected” supply of foreign currency over the past three weeks. He believes this will stabilise after tobacco farmers receive their U.S. dollar payments in the coming weeks.
https://www.sundaymail.co.zw/rbz-introduces-gold-backed-digital-currency
3️⃣ Celsius Auction Set for Tuesday, Coinbase and Gemini Join Bidding for Bankrupt Firm 💰
The auction for the assets of bankrupt crypto lender Celsius Network is reportedly scheduled for April 25 in New York. According to court filings, crypto exchanges Gemini and Coinbase are among the companies participating in the bids. The auction is a major step for Celsius’ customers to recover their funds.
The filings reveals that there are two new consortiums- Fahrenheit and Blockchain Recovery Investment Committee- fighting to win the bid against NovaWulf Digital Management, the “stalking horse bidder” — a term used to describe the first bidder of a bankrupt company that sets the bar for the other bidders. Gemini is part of the Blockchain Recovery Investment Committee consortium while Coinbase is rumoured to be part of the Fahrenheit consortium.
https://fortune.com/crypto/2023/04/23/celsius-auction-set-for-tuesday-coinbase-and-gemini-join-bidding-for-bankrupt-firm/
4️⃣ Bank Of Korea Given Right to Investigate Local Crypto Firms 🏦
According to reports, South Korea’s central bank the ‘Bank of Korea’ (BoK) has been granted authority to investigate operators of cryptocurrency-related businesses in the country. This means that BoK will have full access to the transaction data of the crypto operators it is investigating. However, the Financial Services Commission (FSC) will reportedly have the final say in governing the regulation of the digital asset sector.
https://cointelegraph.com/news/bank-of-korea-given-right-to-investigate-local-crypto-firms-report
5️⃣ Ethereum ICO Participant Awakes After 7.7 Years of Dormancy 🐋
According to a tweet by on-chain analysis firm Lookonchain, an ancient dormant Ethereum address that participated and received 2,365 ETH in the blockchain's initial coin offering has become active after 7.7 years. The wallet reportedly transferred 1 ETH to a new address in block 17110898, timestamped more than 10 hours ago. This was the wallet's first sent transaction and is likely a test transaction. While the reason behind the moves remains unknown, this could likely be linked to security measures taken by long-time crypto users after a recent wallet-draining operation began targeting old wallets.
https://www.theblock.co/post/227826/ethereum-ico-7-years