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📣📣 COIN BUREAU NEWSFLASH! – (25/05/23)
Here are some of today’s most important headlines:
1️⃣ Multichain Token Plummets as Transactions Pile Up on Cross-chain Bridge 🧐
The price of the Multichain (MULTI) token has reportedly fallen by 20% over the past few days after users began reporting stuck transactions on the cross-chain bridge protocol as early as May 21.
Multichain responded to the complaints on May 23rd by stating that the difficulties stemmed from an ongoing upgrade and the delayed updates to nodes for cross-chain routers. It stated,
"The upgrade of the back-end node is taking longer than expected. Most of the routes are working as usual, as some routes (Kava, zkSync, Polygon zkEVM) are suspended temporarily for now. All the affected transactions will arrive once the upgrade is complete.”
However, the community seems to be growing anxious due to some unverified rumours on Twitter about the core leadership team being potentially arrested in China.
https://decrypt.co/142171/multichain-token-plummets-transactions-pile-cross-chain-bridge
2️⃣ DeSantis Promises to Protect Bitcoin in Presidential Campaign Launch Event 🇺🇸
In a Twitter Spaces event with Elon Musk yesterday, Florida Governor Ron DeSantis launched his presidential campaign by stating that he'd protect Bitcoin if he's elected next year. He stated that Bitcoin represented a threat to "central planners" that want "control over society." Just earlier this month, DeSantis moved to prohibit any kind of central bank digital currency in Florida.
In the Spaces which had over 300,000 listeners, DeSantis stated,
"I think people should be able to do bitcoin. As president, we'll protect the ability to do things like bitcoin."
https://www.theblock.co/post/232135/desantis-promises-to-protect-bitcoin-in-presidential-campaign-launch-event
3️⃣ Shaquille O’Neal Hit with FTX And Astral NFT Suits During NBA Game 🏀
Basketball superstar Shaquille O’Neal was reportedly served legal papers for two separate lawsuits in the broader crypto and NFT realm yesterday while broadcasting an NBA game at what once was Miami’s FTX Arena. The legal papers are related to the FTX class-action lawsuit and a new separate class-action suit regarding his alleged promotion of the Astrals project.
https://cointelegraph.com/news/shaquille-o-neal-hit-with-ftx-and-astral-nft-suits-during-nba-game
4️⃣ Crypto Mogul Do Kwon’s Bail Is Revoked in Montenegro ⚖️
According to a Bloomberg report, a Montenegro high court has annulled a lower court’s decision to release Terraform Labs co-founder Do Kwon and his former chief financial officer Han Chong-joon on bail. Both face charges of attempting to travel with falsified documents.
Marija Rakovic, the spokeswoman for the court, has stated that the Basic court must now make another decision, taking into account what the High Court ruled. She also added that there is no legal limit to how many motions can follow between the respective judges.
https://www.bloomberg.com/news/articles/2023-05-24/crypto-mogul-do-kwon-s-bail-is-revoked-in-montenegro
5️⃣ Crypto Security Firm Unciphered Claims Ability to Physically Hack Trezor T Wallet 😱
Cybersecurity firm Unciphered has claimed to have hacked into the popular Trezor T model hardware crypto wallet manufactured by Satoshi Labs. The firm stated that it made use of an “unpatchable hardware vulnerability with the STM32 chip” that allowed them to dump the embedded flash and one-time programmable (OTP) data. The extraction of the wallet’s seed phrase requires physical possession of the device.
https://www.coindesk.com/tech/2023/05/24/crypto-security-firm-unciphered-claims-ability-to-physically-hack-trezor-t-wallet
“The whole thesis of the company is that digital assets are securities, and the best way to regulate them is under the federal securities laws.”
This means that the firm will not offer services for Bitcoin (BTC) due to the asset being declared as a commodity by regulators.
https://www.bloomberg.com/news/articles/2023-05-23/prometheum-capital-sees-path-to-register-with-sec-as-special-purpose-broker
📣📣 COIN BUREAU NEWSFLASH! – (23/05/23)
Here are some of today’s most important headlines:
1️⃣ AI-Generated Hoax of Pentagon Explosion Sparks Brief Market Sell-Off 🥶
Yesterday, the U.S. stock market briefly dipped after an AI-generated image of an explosion near the Pentagon began circulating on social media. The image was first shared by a now-suspended verified Twitter account named “Bloomberg Feed” that was pretending to be affiliated with the media conglomerate of the same name.
The fake report quickly gained traction and was shared by multiple media outlets, including the Russian-state-controlled media outlet Russia Today and the Indian media outfit Republic, who have both since deleted their respective tweets regarding the story.
https://decrypt.co/140959/ai-generated-hoax-of-pentagon-explosion-sparks-brief-market-sell-off
2️⃣ Hotbit Exchange Halts Operations, Urges Users To Withdraw Funds 📉
Yesterday, crypto exchange Hotbit announced that it was halting operations immediately due to its deteriorating operating conditions and changes in the broader crypto landscape. It has instructed users to withdraw funds before June 21, at 4:00 am UTC.
https://cointelegraph.com/news/hotbit-exchange-halts-operations-urges-users-to-withdraw-funds
3️⃣ Coinbase Takes Lobbying Effort to DC Airwaves with New TV Ad 📺
U.S. crypto exchange Coinbase is reportedly rolling out another national ad campaign focused on the “critical” role that crypto will play in modernising the global financial system. The campaign called “Moving America Forward” will kick off via a series of four different advertisements aired during “popular Sunday shows” and ad breaks of the NBA Finals series on U.S. TV. The four ads will premiere over the course of four separate weeks and will feature Coinbase CEO, Brian Armstrong.
https://www.theblock.co/post/231759/coinbase-takes-lobbying-effort-tv-ad
4️⃣ Web3 Move-to-Earn App STEPN Integrates Apple Pay for In-Game Purchases 🚀
As part of its efforts to onboard more users, Web3 move-to-earn game STEPN is reportedly integrating payments service giant Apple Pay as a fiat onramp for in-app purchases. The integration will allow users to purchase NFTs without ever having to leave the app or go to an external marketplace.
Stepn’s Chief Operating Officer Shiti Manghani stated,
“It is a very, very big step. Nothing like this has been done before. Internally we’re saying this is the biggest thing happening in crypto and not that many people know about it.”
https://www.coindesk.com/web3/2023/05/22/web3-move-to-earn-app-stepn-integrates-apple-pay-for-in-game-purchases
5️⃣ Malaysia Says Crypto Exchange Huobi Global Isn't Registered, Must Cease Operations ❌
The Securities Commission (SC) of Malaysia has reportedly ordered crypto exchange Huobi Global Limited and its CEO Leon Li to wind down operations in the country after it found the exchange operating without registration in the country. The regulator also ordered Huobi to disable its website and mobile apps in the country as well as cease any advertisements to Malaysian investors. Huobi's Malaysian users have also been advised to withdraw all their investments from the platform and close their accounts.
https://www.coindesk.com/policy/2023/05/22/malaysia-says-crypto-exchange-huobi-global-isnt-registered-must-cease-operations
Hey Guys,
The crypto market has been acting crazy, and I know we’ve all been trying to get a sense of what’s going on and where things are headed. As it so happens, CoinTelegraph’s research team recently published a report that has a few insights.
The report covers 10 different crypto niches. It includes an analysis of recent events as well as a forecast for each. The main takeaway is that the markets are looking neutral. However, there are a few concerns lurking beneath the surface.
The biggest concern I have is the lack of crypto regulation in the United States. The regulatory situation there continues to deteriorate, and I think it’s mostly to blame for the bizarre price action we’ve seen lately. Who knows…
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (21/05/23)
Here are some of today’s most important headlines:
1️⃣ Pudgy Penguins Smashes Amazon Debut, Sells Over 20,000 Toys 🐧
The launch of popular NFT collection Pudgy Penguin’s new “Phygital” Toy Collection & Experience on e-commerce giant Amazon is reportedly a massive success, with the brand seeing an explosion in interest and sales over the past two days. Project CEO Luca Netz said the brand saw over $500,000 in purchases and over 20,000 individual toys sold. The toys have reportedly dominated Amazon sales charts over the past 48 hours, beating legacy brands like Disney, Transformers, Pokemon, Barbie and Legos.
https://decrypt.co/140825/pudgy-penguins-phygital-toys-amazon-sales
2️⃣ US Presidential Candidate Vivek Ramaswamy to Accept Bitcoin for Campaign Donations 🤩
According to reports, US Presidential Candidate Vivek Ramaswamy is officially accepting Bitcoin and a few other cryptocurrencies as donations for his campaign. Notably, Ramaswamy is the second such candidate after Robert F. Kennedy Jr.to accept crypto for campaign donations
The announcement, which was made at Bitcoin 2023 in Miami Florida, saw Ramaswamy flashing a QR code, which, when scanned, would redirect users to the BitPay’s payment service platform. BitPay supports cryptocurrencies such as BCH, ETH, APE, LTC, DOGE, and SHIB among others.
https://cointelegraph.com/news/us-presidential-candidate-vivek-ramaswamy-to-accept-bitcoin-for-campaign-donations
3️⃣ Attacker Uses Malicious Proposal to Take Over Tornado Cash Governance ❗️
An unidentified attacker has reportedly gained full control over the governance of popular crypto mixer Tornado Cash after managing to trick the DAO into passing a malicious proposal.
The malicious proposal hid a code function that granted the attacker fake votes that can now be used to handle some aspects of Tornado Cash, including control over the TORN tokens held in the main governance contract or withdrawal of locked TORN tokens.
According to on-chain analyst EmberCN, the attacker has withdrawn 10,000 votes in the form of TORN tokens and sold them all for $25,600. They have also drained the remainder of the locked votes (483,000 TORN) from the vault, depositing 6,000 TORN on the crypto exchange Bitrue, and selling 379,000 TORN on-chain for $680,000 of ETH. Currently, just under 100,000 TORN remain under the attacker's control.
https://www.theblock.co/post/231637/attacker-uses-malicious-proposal-to-take-over-tornado-cash-governance
Hey Guys,
The crypto market has been acting crazy, and I know we’ve all been trying to get a sense of what’s going on and where things are headed. As it so happens, CoinTelegraph’s research team recently published a report that has a few insights.
The report covers 10 different crypto niches. It includes an analysis of recent events as well as a forecast for each. The main takeaway is that the markets are looking neutral. However, there are a few concerns lurking beneath the surface.
The biggest concern I have is the lack of crypto regulation in the United States. The regulatory situation there continues to deteriorate, and I think it’s mostly to blame for the bizarre price action we’ve seen lately. Who knows…
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (19/05/23)
Here are some of today’s most important headlines:
1️⃣ Coin Cafe Ordered to Repay $4.3M In Fees That ‘Wiped Out’ Investors’ Bitcoin Accounts ⚖️
Brooklyn-based crypto trading platform Coin Cafe has reportedly been ordered to repay the $4.3 million in platform fees that it unfairly charged its users for storing Bitcoin on the platform. Specifically, New York State Attorney General Letitia James alleged that the exchange had been charging “exorbitant” fees for storing Bitcoin without properly informing investors. This has reportedly led to some customer accounts being completely drained of funds.
James stated,
“Coin Cafe defrauded hundreds of New Yorkers out of thousands of dollars with its deceptive marketing and due to a lack of effective regulation. This is yet another example of why the cryptocurrency industry needs to be better regulated, just like any other financial institution where New York investors put their hard-earned money.”
https://cointelegraph.com/news/coin-cafe-undiclosed-bitcoin-fees-fined-new-york
2️⃣ OpenAI Debuts ChatGPT App for Apple iPhone, Says Android Coming Soon 🍎
OpenAI, the company behind the AI chatbot ‘ChatGPT’, has reportedly launched a mobile application version of ChatGPT on Apple’s App Store. The app will be free-to-download and will allow users to sync their history across devices. Users who have a Plus subscription will also reportedly get early access to features, faster responses, and access to GPT-4 right from their iPhone. OpenAI has also hinted that an Android version is coming “soon.”
https://decrypt.co/140609/openai-launches-chatgpt-app-for-apple-iphone
3️⃣ Coinbase Officially Opens Subscription Service; Expands Reach Outside U.S. 🚀
Crypto exchange Coinbase is reportedly planning to launch ‘Coinbase One’- its zero-fee subscription service across 35 countries over the next few months. The service has been in beta testing since 2021 in the U.S. In the first leg of its expansion, Coinbase will be expanding the service to include the U.K., Germany and Ireland.
The service, which costs $29.99 per month, provides customers with perks such as zero-trading fees, higher staking rewards and exclusive benefits through partnerships with industry players such as Messari and CoinTracker.
https://www.coindesk.com/business/2023/05/18/coinbase-officially-opens-subscription-service-expands-reach-outside-us
4️⃣ Digital Asset Firm HashKey Group Seeks to Raise up to $200M at $1B Valuation 💰
According to a Bloomberg report, Hong Kong-based crypto investment firm Hashkey Group is planning to raise between $100 million to $200 million in funds at a valuation above $1 billion. Hashkey, which operates one of the city’s only two licensed digital coin bourses, seems to be capitalising on Hong Kong's re-emergence as a potential crypto hub as regulators will soon unveil a new regime for crypto exchanges in the city.
https://www.bloomberg.com/news/articles/2023-05-19/crypto-firm-seeks-funds-at-1-billion-plus-value-as-hk-opens-up
🚨Rally Report🚨
RENDER NETWORK
The price of RNDR has rallied by 20% in the past 24 hours.
WHY?!
🔎 Investors are speculating that RNDR will benefit from a possible increase in demand for GPU rendering services due to the upcoming release of Apple’s AR/VR headset.
🤔 Tech giant Apple hinted that their VR/AR headset will be announced at the annual Worldwide Developers Conference (WWDC) on June 5.
If you want to buy or trade RNDR, we have an exclusive $40K Bonus & a 20% trading fee discount for life on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
Not sure if you heard, but there was another hearing about crypto regulations last week. I’ve been doing my best to summarize as many as I can, because what’s being said is extremely important. This time it was about altcoins.
Basically, the crypto industry is trying to convince US politicians to pass crypto-specific laws in the US that are analogous to those in the EU and soon in the UK. What’s remarkable is that many US politicians seem to be in favor.
Even so, rogue regulators like the SEC are still on the loose, and a few comments were made during the hearing suggest that a handful of crypto projects could be at risk. I won’t give it away here – you’ll have to watch to find out.
Enjoy.
📣📣 COIN BUREAU NEWSFLASH! – (17/05/23)
Here are some of today’s most important headlines:
1️⃣ Court Victory For Ripple as Judge Denies SEC Motion to Seal Hinman Docs ❗️
In the latest victory for Ripple’s case against the U.S. Securities and Exchange Commission (SEC), U.S. District Court Judge Analisa Torres ruled that the SEC cannot seal documents tied to former official William Hinman's 2018 speech on crypto and their securities status.
Judge Torres ruled that the documents are “judicial documents” subject to a strong presumption of public access that “would reasonably have the tendency to influence [the Court’s] ruling on a motion." However, the court granted the SEC’s request to redact the names and identifying information of SEC experts and XRP investor declarants, as well as the personal and financial information of the defendants in the documents.
https://cointelegraph.com/news/sec-ripple-court-denies-sealing-hinman-documents
2️⃣ Lightning Labs Releases 'Better' Version of Token Minting on Bitcoin After BRC-20s Clog System 🚀
Lightning Labs has reportedly released an updated and rebranded version of its Taro project that was subject to a contentious trademark infringement suit last December. The rebranded version called the ‘Taproot Assets Protocol’ will reportedly allow users of the Bitcoin network to mint new assets on the blockchain in a more efficient way.
Particularly, in a recent blog post, Lighting Labs criticised the current methods by which assets are inscribed on the Bitcoin blockchain, calling them “particularly inefficient” on account of their need to write asset metadata “directly into block space.” It called the Taproot Assets Protocol a far “better solution” due to its “off-chain” operation ensuring the avoidance of network congestion.
https://www.coindesk.com/tech/2023/05/16/lightning-labs-releases-better-version-of-token-minting-on-bitcoin-after-brc-20s-clog-system
3️⃣ Bitcoin Services Startup River Financial Secures $35 Million From Peter Thiel and Others 💰
Bitcoin-linked financial services startup ‘River Financial’ has reportedly raised $35 million in a Series B round. The round was led by Kingsway Capital, and saw participation from other investors including billionaire investor Peter Thiel, Cygni, Goldcrest and Valor Equity Partners.
River CEO Alex Leishman stated,
“We’re seeing another wave of Bitcoin interest, largely driven by business and institutional adoption. It’s not hype this time. This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important — it’s a secure path to a stronger and more transparent global economy.”
https://www.theblock.co/post/230951/river-financial-bitcoin-startup-fundraise-peter-thiel
4️⃣ Crypto Retail Trading Should Be Regulated as Gambling: UK Lawmakers ⚖️
In a May 17 House of Commons Committee report, the U.K. Treasury Committee “strongly recommended” that the trading of “unbacked crypto assets” such as Bitcoin and Ether be regulated as gambling rather than a financial service. Specifically, Treasury Committee Chair Harriett Baldwin stated that regulating crypto trading as a financial service will risk creating “a ‘halo’ effect” that leads consumers to believe that the activity is “safer than it is, or protected when it is not.”
However, the country's finance ministry stood by its proposal to regulate crypto as financial services, stating,
“Risks posed by crypto are typical of those that exist in traditional financial services and it’s financial services regulation – rather than gambling regulation – that has the track record in mitigating them. Crypto offers opportunities but we are taking an agile approach to robustly regulating the market, addressing the most pressing risks first in a way that promotes innovation.”
https://cointelegraph.com/news/crypto-regulated-as-gambling-uk-treasury
5️⃣ Justin Sun Calls Out Huobi Founder’s Brother for Unfairly Profiting on Tokens 🔎
📣📣 COIN BUREAU NEWSFLASH! – (16/05/23)
Here are some of today’s most important headlines:
1️⃣ SEC Urges Judge to Reject Coinbase Demand for Rules Explanation ⚖️
In a court filing made on May 15th, the United States Securities Exchange Commission (SEC) responded to Coinbase’s petition for clear crypto regulation by stating that any rulemaking may take years and that Coinbase’s request for rule-making is an unreasonably short amount of time. It also asked the court to deny Coinbase’s petition for mandamus, arguing that mandamus is an “extraordinary remedy” and that Coinbase “does not and cannot demonstrate a right” to relief.
https://www.bloomberg.com/news/articles/2023-05-16/sec-urges-judge-to-reject-coinbase-demand-for-rules-explanation
2️⃣ Celsius Moves $781M In stETH Just as Lido Withdrawals Open 🤔
According to on-chain data, bankrupt lending platform Celsius moved over 428,000 stETH tokens (worth $780 million) to an Ethereum wallet on Monday. The transaction coincides with the introduction of a withdrawal feature by stETH provider Lido Finance, possibly hinting at Celsius' strategy to reclaim inaccessible ether amid ongoing bankruptcy proceedings.
https://cointelegraph.com/news/celsius-moves-781m-in-steth-just-as-lido-withdrawals-open
3️⃣ The Secret Service Says Blockchain Is An ‘Amazing Opportunity’ To Track Money; It Also Has An NFT Collection 🕵️♂️
In a lengthy “Ask Me Anything” session on Reddit, the U.S. Secret Service along with the California criminal task force revealed that it owns crypto and has its own NFT collection. It also praised blockchain technology’s ability to fight financial crime by allowing regulators to track the flow of money.
https://www.theblock.co/post/230902/secret-service-crypto-ama-reddit
4️⃣ Optimism’s Major ‘Bedrock’ Upgrade Set for June 6 ❗️
Layer 2 scaling solution Optimism has announced that it will undergo its highly anticipated Bedrock upgrade on June 6. The upgrade is expected to result in significantly reduced transaction fees, provide greater network security and enhanced compatibility with Ethereum. The Optimism team has also stated that the network would be down for two to four hours on June 6 as the upgrade goes through.
https://cointelegraph.com/news/optimism-mainnet-bedrock-upgrade-june-6
📣📣 COIN BUREAU NEWSFLASH! – (15/05/23)
Here are some of today’s most important headlines:
1️⃣ SEC Revises $22M Punishment Against LBRY, Seeks $111K Instead 🤔
According to a recent court filing, the U.S. Securities and Exchange Commission is seeking an amendment to its request for remedies in its successful case against decentralised content platform LBRY. Specifically, the regulator is seeking to impose a fine of $111,614 instead of the original $22 million fine due to LBRY’s “lack of funds and near-defunct status.”
The filing reads,
“The Commission acknowledges LBRY’s representations that it is defunct, ceasing operations, and without the funds to pay a larger fine, and recognizes that a defendant’s ability to pay is a factor when imposing a civil penalty.”
https://cointelegraph.com/news/sec-revises-lbry-fine-to-111k
2️⃣ Bitcoin Addresses Holding 1 BTC Or More Reach One Million: Glassnode 🔎
According to data from Glassnode, the number of “whole-coiners” (Bitcoin wallet addresses holding 1 BTC or more) has surpassed the one million mark. The data also reveals that over 190,000 whole-coiners were added from early February 2022 as the price of Bitcoin fell from its November 2021 highs.
https://cointelegraph.com/news/bitcoin-wholecoiners-reach-one-million
3️⃣ US Justice Department Promises Crackdown on Digital Platforms ⚖️
Eun Young Choi, the director of the U.S. Justice Department’s (DOJ) national cryptocurrency enforcement team, has reportedly stated that the agency is increasing its scrutiny of digital platforms for any illicit behaviour due to the “significant” growth of crypto crime in the past four years. Specifically, the DOJ is targeting crypto exchanges along with the “mixers and tumblers” that obscure the trail of transactions.
https://www.ft.com/content/5aac457e-cc80-44ae-ac40-9b51d9b601a3
4️⃣ Zimbabwe Sells Millions of Gold-Backed Crypto Tokens Despite IMF Warning 🇿🇼
The Reserve Bank of Zimbabwe has reportedly sold 14 billion Zimbabwean dollars’ ($39 Million) worth of gold-backed digital tokens against the International Monetary Fund’s warning. The central bank of Zimbabwe reportedly received 135 applications for the crypto tokens which are backed by 139.57 kilograms of gold.
https://cointelegraph.com/news/zimbabwe-sells-gold-backed-crypto-tokens
Hey Guys,
By now I’m sure most of you will know that crypto and macro factors are what move the crypto market. Even so, I bet you’ve been surprised at how little effect macro factors can have on the crypto market sometimes. I know that I’ve been!
As it so happens, S&P Global recently put out a crypto report which analyses exactly how the crypto market responds to certain macro factors. It’s easily one of the most interesting crypto reports I read recently, and I had to summarize it.
The authors examine some fascinating correlations between certain macro factors and crypto prices, and one of them is scary accurate at tracking crypto cycles. There is no shortage of alpha here, and I made sure to add a little extra on top.
Enjoy!
🚨Rally Report🚨
RENDER NETWORK
The price of RNDR has rallied by 7% in the past 24 hours.
WHY?!
🎉 The rally is likely due to investors feeling confident about the project after a series of developments that were recently announced.
🔎 Firstly, the Render team announced that The Render Foundation website was now live. The new website provides users with a simple, easy way to find information about the Render Network. It also allows them access to the Artist portal, Knowledge Base, information about participating in Render Network Governance, and links to Render Network’s social sub-communities.
🔎 Render also announced revisions to the C4D plugin for Octane, including a brand new feature -an ORBX export command tailored exclusively for RNDR Jobs, available through the live viewer.
If you want to buy or trade RNDR, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
📣📣 COIN BUREAU NEWSFLASH! – (24/05/23)
Here are some of today’s most important headlines:
1️⃣ Binance Blasts 'Desperate' Reuters Report It Commingled Customer and Company Funds 🧐
Crypto exchange Binance has responded to a controversial Reuters special report that alleged the company commingled customer funds with revenue in 2020 and 2021. Binance described the report as “weak” and “full of conspiracy theories.” Binance chief of communication Patrick Hillmann also accused Reuters of "xenophobia" for mentioning Binance founder Changpeng Zhao's ethnicity "without noting that he’s been Canadian since the age of 12."
On the accusations made by Reuters, Hillman stated,
“We keep our user and corporate funds on completely separate ledgers. There is declining ROI on responding to these types of tabloid stories. We know who their sources are and Reuters will be embarrassed when it becomes public.”
https://www.coindesk.com/policy/2023/05/23/binance-blasts-desperate-reuters-report-it-commingled-customer-and-company-funds
2️⃣ Ledger Key Recovery Service Paused Amid Backlash, Will Open-Source Code ❗️
In a blog posted yesterday, Pascal Gauthier- the chairman and CEO of hardware wallet company Ledger, announced that the company was postponing the launch of its Ledger Recover feature due to the intense backlash it received from the crypto community. Gauthier also revealed that the firm would be accelerating its plans to open-source more of its codebase in order to assure users of the product’s safety.
Gauthier stated,
"We will open source the Ledger Recover protocol, enabling the community to have as much choice as possible over your self-custody, in addition to the service being fully optional. We are doing this for more transparency going forward; this does not change the security of your device."
https://cointelegraph.com/news/ledger-recover-paused-code-will-open-source
3️⃣ Solana Blockchain Integrates ChatGPT Plugin, Launches AI Accelerator ⚒
The Solana Foundation has reportedly created an open-source reference implementation that lets users interact with the Solana network directly from ChatGPT with a plugin developed by Solana Labs. The plugin can reportedly be used to buy NFTs, transfer tokens, inspect transactions, interpret public account data and find NFT collections by floor price. It also announced that it was increasing funding for its AI-focused strategic grants program from $1 million to $10 million.
The Solana Foundation stated,
"This integration from Solana Labs serves as a reference for how AI can make it easier to understand Solana data and protocols, or surface data about Solana's computing infrastructure and DeFi projects.”
https://www.theblock.co/post/231905/solana-blockchain-integrates-chatgpt-plugin-launches-ai-accelerator
4️⃣ Overwatch Maker Blizzard Entertainment to Tap into Generative AI Game Tools 🤖
According to a New York Times report, game studio Blizzard Entertainment is experimenting with generative AI as part of game development. The company’s move into artificial intelligence was reportedly announced internally last month in an email from Blizzard's chief design officer, Allen Adham.
Blizzard President Mike Ybarra tweeted,
"Our approach at Blizzard is to use machine learning and AI in ways that are additive, empathic, and allow our talented teams to spend more time on the highest quality creative thinking and tasks."
https://www.nytimes.com/2023/05/22/arts/blizzard-diffusion-ai-video-games.html
5️⃣ Crypto Firm Prometheum Becomes First to Be Approved By SEC, FINRA As Special-Purpose Broker-Dealer 🚀
Prometheum Ember Capital, a New York-based firm founded in 2021, has reportedly secured regulatory approval to become the first crypto-focused company to register with the U.S. SEC and FINRA as a special-purpose broker-dealer. The approval allows the firm to safekeep digital asset securities on behalf of individual and institutional clients as a qualified custodian.
Aaron Kaplan, co-chief executive officer of Prometheum Inc, stated,
Hey Guys,
It's been a bit over a week since Ledger revealed their "Recover" feature and it went down like a lead balloon filled tied to an anchor.
That's because what the update revealed was that a firmware upgrade by Ledger could technically create the functionality to extract key data. This was contrary to the long standing beliefs that many in the industry held.
What followed was one PR blunder after the next where the community wondered whether they should use Ledger's at all.
In the video today, we are going to dive into the whole debacle and look at the more technical aspects of hardware wallets. I will also analyse what this could mean for Ledger and the broader crypto custody sector.
So, if you value your crypto security, then this is a video that you can't afford to miss.
📣📣 COIN BUREAU NEWSFLASH! – (22/05/23)
Here are some of today’s most important headlines:
1️⃣ Biden Opposes Debt Deal Friendly To 'Crypto Traders' Amid Threat of U.S. Default 😕
At a recent press conference, while attending the Group of Seven (G7) Summit in Japan, US President Joe Biden addressed the country’s ongoing debt ceiling crisis by stating that while he’s keen to strike a deal with lawmakers that would avoid his government from defaulting on its debt obligations, he isn’t willing to ink an agreement friendly to "crypto traders."
This reportedly refers to an ongoing discussion between the White House and Republican leaders about blocking tax-loss harvesting for cryptocurrency transactions. Specifically, Biden stated,
“I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistance at risk for nearly a hundred — excuse me — nearly 1 million Americans.”
https://www.theblock.co/post/231639/biden-opposes-debt-deal-friendly-to-crypto-traders-amid-threat-of-u-s-default
2️⃣ No, MetaMask Will Not Withhold Your Crypto for Taxes ❗️
Earlier today, ConsenSys posted a statement addressing the recent rumours about its crypto wallet MetaMask collecting taxes from cryptocurrency users. Specifically, ConsenSys said the rumours about its terms of service were “inaccurate information” and officially clarified that "MetaMask does not collect taxes on crypto transactions.” It stated that the tax section of its terms of service exclusively referred to products and paid plans offered, and had nothing to do with on-chain crypto transactions.
https://decrypt.co/140873/metamask-tax-taxes-viral-rumor-false-inaccurate
3️⃣ Tornado Cash Attacker Submits Proposal to Undo Attack 🌪
The attacker behind the recent governance attack on crypto mixer Tornado Cash has reportedly submitted a new proposal that seeks to reverse the malicious changes and restore the state of governance. Tornado Cash community forum user Tornadosaurus-Hex has stated that there is a "good chance" that the attacker would execute it. The voting on the proposal closes on May 26, even if passed it remains unclear when the action will be executed.
https://www.coindesk.com/markets/2023/05/22/tornado-cashs-torn-token-up-10-as-attacker-submits-proposal-to-undo-attack
4️⃣ Crypto Hacks Falling in Q1 Is but A ‘Temporary Reprieve’ — Blockchain Firm 🔎
According to a May 21 report by TRM Labs, the amount of money stolen through crypto hacks in Q1 2023 “was less than any other quarter in 2022” and the average hack size has dropped by nearly 65% compared to 2022. Experts believe the fall in crypto hacks might be due to the enforcement actions taken by US authorities, specifically referring to the sanctioning of crypto mixer Tornado Cash and the filing of charges against Mango Market’s exploiter Avraham Eisenberg. However, one firm has urged the community to not let their guard down despite the significant decline stating that it is most likely a “temporary reprieve, rather than a long-term trend.”
https://cointelegraph.com/news/crypto-hacks-fall-q1-temporary
📣📣 COIN BUREAU NEWSFLASH! – (20/05/23)
Here are some of today’s most important headlines:
1️⃣ Jack Dorsey’s TBD Announces New Web5 Toolkit 🚀
At the Bitcoin Miami 2023 conference, Jack Dorsey’s TBD announced that it was launching a new open-source toolkit for its Web5 platform. The toolkit which includes a collection of technologies such as decentralised identifiers; verified credentials and decentralised web nodes, will reportedly make it easier for developers to create decentralised internet applications. The full Web5 platform is expected to launch later in 2023.
https://cointelegraph.com/news/jack-dorsey-s-tbd-announces-new-web5-toolkit
2️⃣ Zombie-themed Deadfellaz NFTs Let You Bring the Avatars to Life on Video 🧟♂️
DFZ Labs, the creative team behind zombie-themed NFT collection Deadfellaz, is reportedly rolling out a video utility extension called ‘Streamingfellaz’ to allow community members to bring their tokens to life and embody their avatars on screen.
The tool will allow Deadfellaz NFT holders to represent themselves as their Deadfellaz NFT on platforms such as Google Meet, Twitch, Zoom and YouTube by tracking users’ movements and body language to bring their tokens to life on screen.
Betty, CEO & Co-Founder of DFZ LABS, stated,
“So many of our collectors have an emotional connection to their profile picture (PFP). It’s important for us to foster that connection by providing tools that allow our wildly creative community access to empowerment of expression - without needing to have the technical skills.”
https://www.coindesk.com/web3/2023/05/19/zombie-themed-deadfellaz-nfts-let-you-bring-the-avatars-to-life-on-video
3️⃣ MIAX Completes Acquisition of Options Exchange LedgerX 🤝
The Miami International Securities Exchange (MIAX) has completed the acquisition of LedgerX – a CFTC-regulated exchange and clearinghouse that was previously owned by FTX US. Thomas Gallagher, the CEO of MIAX’s parent company Miami International Holdings, stated that the acquisition of LedgerX was “an important part of [MIAX]’s growth strategy, expanding [its] ability to offer new and innovative products to the swaps and futures industry."
https://www.theblock.co/post/231595/miax-completes-acquisition-of-options-exchange-ledgerx
4️⃣ Apple Restricts Employee Use of ChatGPT, Joining Other Companies Wary of Leaks 🍎
Tech giant Apple has reportedly restricted the use of ChatGPT and other external AI products among “some employees” over concerns of potential mishandling and leaking of confidential company data by such employees. Specifically, this is due to data entered on such platforms being sent back to the developer to enable continued improvements. Notably, Apple’s announcement comes shortly after rival tech giant Samsung announced a similar prohibition for its employees.
https://www.wsj.com/articles/apple-restricts-use-of-chatgpt-joining-other-companies-wary-of-leaks-d44d7d34
5️⃣ Another CertiK Audited Project Rugs as $3M Disappears from Arbitrum DeFi Exchange ❌
CertiK-audited DeFi project Swaprum has reportedly disappeared with over $3 million in client funds in what appears to be a rug pull. While the website is still live, the team seems to have deleted all its social media accounts. Notably, this makes Swaprum the second project audited by CertiK in recent days to steal customer funds.
CertiK which has been criticised for the audit of the project, responded by stating,
"As an auditor, we cannot force projects to implement our recommendations, but we can clearly and publicly call out vulnerabilities where we find them. We did this with Swaprum, and the audit report is freely accessible on our website. Instead of manipulating the audited MasterChef contract, the deployer replaced it with an unaudited malicious contract in order to carry out the rug pull. The vulnerability stems from the proxy upgradability (which we called out as a major vulnerability), rather than an issue with the smart contract that we audited."
https://decrypt.co/140744/certik-taking-heat-as-another-project-it-audited-swaprum-gets-rugged
📣📣 COIN BUREAU NEWSFLASH! – (18/05/23)
Here are some of today’s most important headlines:
1️⃣ Tether Pledges to Plow 15% of Profits into Bitcoin 💰
Stablecoin issuer Tether has announced that it will be allocating 15% of its net realised operating profits towards buying BTC as part of its strategy to further bolster its excess reserves. It stated that it will make the BTC purchases on a monthly basis and custody the BTC stash on its own, without using any third-party custodians.
Tether CTO Paolo Ardoino stated,
“Bitcoin has continually proven its resilience and has emerged as a long-term store of value with substantial growth potential. Its limited supply, decentralised nature, and widespread adoption have positioned Bitcoin as a favoured choice among institutional and retail investors alike.”
https://decrypt.co/140461/tether-pledges-to-plow-15-of-profits-into-bitcoin
2️⃣ Apple Allows Axie Infinity Crypto Game on The App Store 🍎
According to reports, the popular blockchain game Axie Infinity has successfully launched its 'Axie Infinity: Origins' game on the Apple App Store. This is the first time Apple has agreed to make an externally-purchased NFT usable on the App Store.
However, the game is currently in a limited rollout phase and is only available for users in countries such as Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia and Vietnam. The company stated that it plans to “gather data around retention rates” before going for a global launch later this year.
https://www.theblock.co/post/231119/axie-infinity-origins-crypto-game-apple-app-store
3️⃣ SEC Warns That Filecoin ‘Meets Definition of a Security’ - Grayscale ⚖️
The United States Securities and Exchange Commission (SEC) has reportedly warned Grayscale Investments that it believes Filecoin's FIL token qualifies as a security under federal securities laws and has asked the entity to withdraw its application for a Filecoin Trust.
Grayscale has issued a public statement on the matter. It reads,
“Grayscale does not believe that FIL is a security under the federal securities laws and intends to respond promptly to the SEC staff with an explanation of the legal basis for Grayscale’s position. Grayscale cannot predict whether the SEC staff will be persuaded that Grayscale’s position is correct.”
https://cointelegraph.com/news/sec-filecoin-is-security-grayscale-investors
4️⃣ Binance Australia Loses Access to Some Aussie Dollar Payment Routes ❌
Earlier today, crypto exchange Binance Australia announced that it was suspending Australian dollar services due to a third-party payment service provider stopping support for the exchange. It also informed users that this could impact bank transfer withdrawals and that it is currently working to find an alternative. Binance Australia stated that its users can still buy and sell crypto using their credit or debit card and that its P2P marketplace continues to operate as usual.
https://www.bloomberg.com/news/articles/2023-05-18/binance-stops-some-aud-services-cites-external-payment-provider
5️⃣ China's Top Prosecution Agency Says Although Not Banned NFTs Have Crypto-Like Attributes 🇨🇳
Earlier this week, China's national agency responsible for legal prosecution- ‘The Supreme People's Procuratorate of the People's Republic of China’- published its guidelines for the treatment of NFTs.
The guidelines describe how some NFTs share "the attributes of virtual assets," which are banned in the country. Specifically, it refers to NFTs that offer shared ownership of a single asset to multiple users. The authors believe this no longer corresponds to NFT's non-reproducibility, indivisibility and uniqueness criteria.
The guidelines have recommended a stronger "risk research and judgment" to “crackdown on criminal activities” using such NFTs. It has also asked national prosecutors to take on a mission to separate “true innovation” from “pseudo” and protect the former.
https://www.coindesk.com/policy/2023/05/17/chinas-top-prosecution-agency-says-although-not-banned-nfts-have-crypto-like-attributes
Tron founder and Huobi "advisor" Justin Sun has made a series of accusations against Li Wei- the brother of Huobi founder Li Lin, claiming that Li Wei has consistently been selling off the native token of Huobi (HT) that he “abnormally” acquired at zero cost. Sun stated that the HT DAO committee is planning to rectify this issue by negotiating “a refund” and arranging for the “destruction of his remaining HT tokens."
https://www.theblock.co/post/231057/justin-sun-huobi-founder-brother-ht-token
🚨Rally Report🚨
DECENTRALAND
The price of MANA has rallied by 11% in the past 24 hours.
WHY?!
🧐 Rumours surrounding the specs of Apple’s upcoming AR/VR headset surfaced yesterday. The AR/VR headset is just a few weeks away from its expected June release.
🔎 This seems to have had a bullish effect on the tokens of Metaverse and gaming platforms like Decentraland. This is likely due to investors speculating on a potential metaverse or gaming trend emerging ahead of Apple’s product launch.
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🚨Rally Report🚨
LIDO DAO
The price of LDO has rallied by 9% in the past 24 hours.
WHY?!
🎉 Lido launched V2 live on mainnet yesterday.
🔎 The upgrade allows users to process staked ETH withdrawals by depositing their stETH to get ETH in return on the platform. The upgrade also introduced the ‘staking router’- a new modular component that promotes staking diversity by allowing solo stakers, DAOs, and Distributed Validator Technology (DVT) clusters.
📈 This has likely resulted in some bullish sentiment for the future of the platform.
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Hey Guys,
If you thought that last week was crazy, you haven’t seen anything yet. This week we’re likely to see a continuation of the same crypto and macro factors that moved the markets, and by moved I mean crashed.
Most of the recent volatility is due to a deadly combination of low liquidity and lots of liquidations. This means that any moves to the upside or downside are likely to be more extreme, and there are lots of catalysts for this.
One catalyst to keep a close eye on is the debt ceiling. The mere prospect of a default could result in double digit declines – it’s what happened in 2011. It could have a particularly profound impact on crypto via stablecoins.
This is a weekly crypto review you can’t miss!
🚨Rally Report🚨
LITECOIN
The price of LTC has rallied by 7% in the past 24 hours.
WHY?!
🎉 The number of active addresses on the Litecoin network has risen significantly recently. This is likely due to the recent introduction of the experimental LTC-20 token standard on the network. The popularity of the similarly positioned BRC-20 standard has led investors to be bullish on the LTC-20 standard of the network.
🔎 The upcoming halving event on Litecoin is another bullish factor.
If you want to buy or trade LTC, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/