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Hey Guys,
FedNow is about to be released and I know you have heard a lot of conflicting things about it. We have also been frustrated about the lack of quality info around the topic.
That’s why my team and I took it upon ourselves to provide an in-depth video about this important technology. As it turns out, many of the concerns about FedNow are justified, as is opposition on the grounds that it could become a CBDC.
When you actually listen to what Fed officials have said about FedNow since they first started developing it in 2013, you start to realise that the conspiracies barely scratch the surface of this rabbit hole.
That’s why we went all the way down.
Enjoy.
“With the addition of Ether/Bitcoin Ratio futures, investors will be able to capture ether and bitcoin exposure in a single trade, without needing to take a directional view. This new contract will help create opportunities for a broad array of clients looking to hedge positions or execute other trading strategies, all in an efficient, cost-effective manner."
https://cointelegraph.com/news/cme-group-set-to-introduce-eth-to-btc-ratio-futures
🚨Rally Report🚨
LITECOIN
The price of LTC has rallied by 17% in the past 24 hours.
WHY?!
🎉 Possible bullishness due to the upcoming halving event expected to happen on August 2, 2023, at block 2,520,000
🔎 This has led to an increase in the hashrate of the network as more miners are joining the network. Just two days ago, on June 28th, the Litecoin hashrate reached an all-time-high of 958.36 terahashes per second (TH/s).
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/
📣📣 COIN BUREAU NEWSFLASH! – (29/06/23)
Here are some of today’s most important headlines:
1️⃣ KuCoin Crypto Exchange to Introduce Mandatory KYC In July ❗️
Starting from July 15th, crypto exchange KuCoin will make it mandatory for all clients to complete know-your-customer (KYC) procedures to fully access its products and services.
Clients who fail to do so will only be able to use services such as spot trading sell orders, futures trading deleveraging, margin trading deleveraging, "earn" product redemptions and ETF redemptions. They will also not be able to make deposits to the exchange but they can withdraw.
https://cointelegraph.com/news/kucoin-crypto-exchange-to-introduce-mandatory-kyc-in-july
2️⃣ EU Publishes Digital Euro Bill Featuring Privacy Controls, Offline Guarantee 🇪🇺
The European Commission has reportedly published its legislative plans for a digital euro, with special emphasis on making it a widely accepted and easily accessible form of payment. The proposal includes provisions to ensure the digital euro can be used to pay digitally across the bloc for free, both online and offline with a focus on privacy protection.
It also includes provisions that seek to forbid the CBDC from being “programmed” to limit the goods it can be used to buy. The proposal states,
"The digital euro would be available alongside existing national and international private means of payment, such as cards or applications and it would work like a digital wallet where people and businesses could pay with the digital euro anytime and anywhere in the euro area."
https://www.coindesk.com/policy/2023/06/28/eu-publishes-digital-euro-bill-featuring-privacy-controls-offline-guarantee
3️⃣ MicroStrategy Buys More Bitcoin, Treasury Tops $4.5 Billion 🤩
According to a recently submitted SEC filing, Michael Saylor’s software analytics firm MicroStrategy purchased 12,333 BTC (worth $347 million) between April 29 and June 27. This brings the total balance of BTC owned by MicroStrategy to 152,333 ($4.52 billion), with an average purchase price of $29,668 per BTC.
https://decrypt.co/146554/microstrategy-increases-bitcoin-treasury-to-4-5-billion
4️⃣ Maple Finance Launches Direct Lending Arm Maple Direct 💰
DeFi lending protocol Maple Finance is reportedly launching a new direct lending program called Maple Direct. The program will focus on offering bespoke tailored lending deals to web3 native entities and is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders. The first lending product is set to begin in July.
The company stated,
"Maple Direct is the first Web3 lending business since the fall of CeFi lenders such as BlockFi and Genesis. These platforms had lent $55 billion but have since exited the space, leaving Web3 businesses without a reliable debt capital source."
https://www.theblock.co/post/236790/maple-finance-launches-direct-lending-arm-maple-direct
5️⃣ Crypto Custody Firm Ledger Introduces Institutional-Grade Trading Network 🚀
Hardware wallet provider and crypto security firm Ledger is reportedly expanding into the institutional trading space through the launch of ‘Tradelink’- a new trading network for institutions that enables custodial trading via select exchanges and custodial partners.
Sebastien Badault, VP Enterprise at Ledger, stated,
“This solution connects custodians, OTC brokers and exchanges, and means you can trade without having funds on the exchange, so it removes that exchange risk. Looking forward, there’s going to be a lot more regulation potentially around being able to distribute your risk, so that aligning fund managers and multiple custodial partners will definitely be a big plus.”
https://www.coindesk.com/business/2023/06/28/crypto-custody-firm-ledger-introduces-institutional-grade-trading-network
6️⃣ Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges 👮♂️
Hey Guys,
Not sure if you’ve noticed, but governments around the world are slowly but surely starting to roll out AI regulations. This is because they’re slowly but surely starting to realise that they need to control this technology before it’s too late.
The EU looks like its on track to be the first to introduce AI regulations, and that means that it could become the de facto gold standard once other countries start to follow suit. To their credit, the folks at the EU did a good job with this one.
It’s too soon to celebrate though. It seems that the AI Act has a couple of more hoops to jump through. Given that there haven’t been many changes to the text since it was introduced, it’s safe to say it’s going to look similar to what it does today.
But who knows, maybe the AI lobbyists will change it again…
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (28/06/23)
Here are some of today’s most important headlines:
1️⃣ Sony Network Invests in Japanese Web3 Startup to Spur Mass Adoption 🚀
Japanese Web3 infrastructure tech company Startale Labs has reportedly received a $3.5 million investment from Sony Network Communications. Just earlier this year, Sony and Startale had announced that they were working together on a Web3 incubator.
Jun Watanabe, President and Executive Officer of Sony Network Communications, stated,
"I am excited to strengthen further our collaboration with Startale Labs, a company with advanced Web3 technologies and expertise. We have already been cooperating with Startale Labs by jointly hosting incubation programs, aiming to promote the development of Web3. With this capital partnership, we are merging Startale Labs' knowledge and technical capabilities in Web3 with the experience and business fields cultivated by Sony Network Communications to create the infrastructure necessary to facilitate global Web3 adoption.”
https://cointelegraph.com/news/sony-invests-in-japanese-web3-startup
2️⃣ FTX Halts Sale of Its $500 Million Stake in AI Startup Anthropic 🧐
According to a Bloomberg report, bankrupt crypto exchange FTX has abruptly paused the sale of its highly-coveted $500 million stake in artificial intelligence startup Anthropic. Notably, the pause comes after a multi-month-long process of due diligence during which multiple potential buyers assessed private information about the Anthropic stake.
https://www.bloomberg.com/news/articles/2023-06-27/bankman-fried-s-ftx-said-to-halt-sale-of-its-stake-in-ai-startup-anthropic
3️⃣ Three Arrows Liquidators Seek $1.3 Billion From Fund’s Founders 🔎
Three Arrows Capital liquidators are reportedly seeking to recover $1.3 billion from the failed crypto hedge fund’s co-founders- Su Zhu and Kyle Davies. Notably, according to a person familiar with the liquidators’ claims, the figure reflects losses the founders are accused of racking up by taking on additional debt in the months before its collapse even though it was already insolvent.
https://www.bloomberg.com/news/articles/2023-06-27/three-arrows-liquidators-seek-1-3-billion-from-fund-s-founders
4️⃣ Mythical Games Raises $37 Million as NFL Rivals Tops 1M Downloads 💰
Mythical Games, the Web3 game development firm behind titles such as NFL Rivals and Blankos Block Party, has reportedly raised $37 million in a Series C1 funding round. The round was led by digital asset manager Scytale Digital and saw participation from investors such as ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, Andreessen Horowitz, WestCap, Gaingels, Signum Growth and Struck Capital.
Mythical Games CEO and co-founder John Linden also stated that he expects to close an additional $20-30 million later this year as some of the strategic investors planned for the round are still in negotiations. The funds will reportedly be used for platform updates, infrastructure developments and enhancements, and the development and subsequent launch of additional games in its pipeline.
https://decrypt.co/146332/mythical-games-raises-37-million-nfl-rivals-tops-1m-downloads
5️⃣ Judge Denies Motion to Dismiss Most Charges Against Sam Bankman-Fried ⚖️
Judge Lewis Kaplan, the federal judge overseeing the case against former FTX CEO Sam Bankman-Fried (SBF), has reportedly denied SBF’s pretrial motions to dismiss all but three criminal charges against him.
Judge Kaplan stated,
“Dismissal of charges ‘is an “extraordinary remedy” reserved only for extremely limited circumstances implicating fundamental rights. The Second Circuit has deemed dismissal an ‘extreme sanction’ that has been upheld ‘only in very limited and extreme circumstances,’ and should be ‘reserved for the truly extreme cases,’ ‘especially where serious criminal conduct is involved.’ […] The Court has considered all of the arguments of the parties. To the extent not addressed herein, the arguments are either moot or without merit.”
"The image that the FTX Group sought to portray as the customer-focused leader of the digital age was a mirage. From the inception of the FTX.com exchange, the FTX Group commingled customer deposits and corporate funds, and misused them with abandon at the direction and by the design of previous senior executives."
https://cointelegraph.com/news/ftx-recovered-7b-assets-has-almost-2b-to-go-to-cover-misappropriations
🚨Rally Report🚨
BITCOIN CASH
The price of BCH has rallied by 14% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to the recent influx of spot Bitcoin ETF applications. This sentiment seems to be pouring over into the forks of the Bitcoin network as well.
🔎 Analysts believe the commodity status of Bitcoin would have an implication on coins from hard forks as well. Therefore, there is some speculation that these companies will file their Bitcoin Cash spot ETF proposals if the Bitcoin one is accepted.
If you want to buy or trade BCH, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
Hey Guys,
I’m back at the Coin Bureau HQ with another weekly crypto review!
It’s been a very green week, so it’s safe to say that I’m feeling well rested after my ‘vacation’. As always, investors seem to have missed a few other important headlines.
For starters, Ethereum developers are discussing some upgrades that could affect its blockchain’s decentralisation. Concerns are also starting to arise about some other stablecoin issuers. Blackrock’s spot Bitcoin ETF application could also be a bearish sign.
In the middle of all of this, meme coins have been popping off, as well as Bitcoin forks. This makes sense, but it presents a mixed picture for what we can expect this week. Be sure to stick around until the end to see where the top performing cryptos are headed next.
Enjoy!
🚨Rally Report🚨
NEAR PROTOCOL
The price of NEAR has rallied by 7% in the past 24 hours.
WHY?!
🎉 The NEAR Foundation has entered into a partnership with Chinese tech behemoth Alibaba Cloud to support the advancement of Web3 in Asia and the Middle East.
🚀 The partnership is expected to attract more users to build on the NEAR Protocol by granting the NEAR Foundation access to Alibaba Cloud's developer ecosystem across Asia and the Middle East.
If you want to buy or trade NEAR, we have an exclusive $40K Bonus, a 20% trading fee discount & a $15k trading competition on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
Hey Guys,
As you know, we like to summarise hearings in congress when they pertain to crypto or macro. The hearing we summarised for today’s video is probably the craziest we’ve summarized so far. It’s basically like all the others combined, x10.
The hearing in question featured Treasury Secretary Janet Yellen. The questions asked and the answers given will make your head spin. By the end of it, all I could think was how I can help all of us prepare for the insanity that was discussed.
ESG regulations, CBDCs, de dollarization, crypto regulations, China invading Taiwan, banking crisis, the list goes on. Of all these factors, the geopolitical ones are probably the most important. I promise they’ll blow your mind.
Enjoy!
🚨Rally Report🚨
AAVE
The price of AAVE has rallied by 26% in the past 24 hours.
WHY?!
🐳 Possible whale accumulation
🔎 On-chain data reveals that a wallet address starting with "0x5a80" has accumulated $13 million worth of AAVE from exchanges through multiple addresses in the past 5 hours. "0x5a80" currently holds 399,585 AAVE ($29M).
If you want to buy or trade AAVE, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
Hey Guys,
We all know that it was a very busy week in the crypto headlines this week. From BlackRock to Deutsche, EDX to Wisdom Tree. Institutional capital appears to be lining up again to service the industry.
However, there were also a number of other crypto stories and developments in other countries that you may not have heard about. And, that's exactly what we will be covering in our third instalment of crypto news from around the world.
Enjoy!
🚨Rally Report🚨
BITCOIN CASH
The price of BCH has rallied by 29% in the past 24 hours.
WHY?!
🎉 Part of a broader market rally due to increasing institutional interest in digital assets.
🚀 BCH is one of the four assets for which Wall Street-backed crypto exchange EDX markets is launching trading services.
If you want to buy or trade BCH, we have an exclusive $40K Bonus, a 20% trading fee discount & a $15k trading competition on Bitget! 👇
https://www.coinbureau.com/deals/trading/bitget-crypto-exchange/
📣📣 COIN BUREAU NEWSFLASH! – (01/07/23)
Here are some of today’s most important headlines:
1️⃣ Celsius Network Approved to Convert Altcoins into BTC Or ETH 💰
A United States Bankruptcy Court has reportedly granted Celsius Network permission to start liquidating its altcoins in order to convert them into BTC and ETH- the two cryptocurrencies that will be used by the crypto lender to pay back creditors in the near future. The liquidation and conversion were reportedly approved after discussions between Celsius and the U.S. Securities and Exchange Commission (SEC).
https://cointelegraph.com/news/celsius-network-approved-convert-altcoins-into-btc-or-eth
2️⃣ Logan Paul Still Hasn't Refunded CryptoZoo NFT Buyers Six Months Later ❌
Yesterday, “internet detective” Coffeezilla posted a YouTube video calling out YouTuber Logan Paul for his failure to refund investors in his failed NFT project ‘CryptoZoo’ for over six months since his promise to do so.
Coffeezilla stated,
“It’s been six months, so here’s a follow-up. Logan Paul has not paid back his victims, he hasn’t talked about it since he first announced he was gonna pay them back. And what’s worst of all, he doesn’t seem to have a plan in place to refund anyone. How do I know that? Well because I’ve been asking Logan for that plan to refund people the entire time, behind the scenes.”
https://decrypt.co/146954/logan-paul-still-hasnt-refunded-cryptozoo-nft-buyers-six-months-later
3️⃣ Kraken Ordered to Turn Over Its Users’ Information to the IRS ⚖️
Crypto exchange Kraken has reportedly been ordered by a federal court to turn over account and transaction information to the IRS as part of the agency’s investigation into whether any of the exchange's users had underreported their taxes.
The judge ruled,
“The Government has a legitimate purpose for seeking the materials described in the summon. As discussed above, the summons was issued in connection with an investigation by the IRS to determine the identity and correct federal income tax liability of U.S. persons who conducted transactions in cryptocurrency during the period 2016-2020.”
https://www.bloomberg.com/news/articles/2023-06-30/kraken-ordered-to-turn-over-its-users-information-to-the-irs
4️⃣ OKX Expands Sponsorship Deal with Manchester City ⚽️
Crypto exchange OKX has expanded its sponsorship deal with the English and European soccer champions Manchester City. According to reports, the new multi-year agreement will see OKX’s logo promoted on the sleeves of Manchester City’s on-field shirts from next season in addition to its existing position on the club’s training kit sleeve. OKX will pay the club $70 million over the course of the three-year deal.
City Football Group CEO Ferran Soriano stated,
“We are very proud to have OKX represented on the sleeve of the Manchester City shirt. We have already seen great web3 experiences designed by OKX for Manchester City’s global fan base and there will be many more to come.”
https://www.theblock.co/post/237200/okx-manchester-city
5️⃣ Azuki Teases Anime Series, New Artwork After Missing the Mark on Elementals Mint 🔎
The team behind the NFT project Azuki has unveiled a new plan to fix its NFT ecosystem after it failed to meet holders’ expectations during its “Elementals” NFT mint.
According to a recorded private discord call posted on Twitter, the team is reportedly planning to update the artwork of the Elementals collection to further distinguish it from the original collection. Azuki also reportedly expanded on its plans for an anime series during the community call, stating that the recently airdropped Green Beans will play a part in creating interactive experiences with the animated shorts produced by the team.
https://www.coindesk.com/web3/2023/06/30/azuki-teases-anime-series-new-artwork-after-missing-the-mark-on-elementals-mint/
📣📣 COIN BUREAU NEWSFLASH! – (30/06/23)
Here are some of today’s most important headlines:
1️⃣ Slovakian Crypto Tax-Cutting Bill Passes National Parliament ⚖️
On Wednesday, members of Slovakia’s National Council of the Slovak Republic (the country’s parliament) voted 112-2 in favour of a law that seeks to cut taxes on the sale of digital currency. Specifically, the bill proposes a tax rate of 7% on virtual currency sold one year after its acquisition, while including crypto held for less long periods alongside other taxable income. Notably, this is a significant decrease from the current taxation sliding scale of 19% to 25%.
https://www.coindesk.com/policy/2023/06/29/slovakian-crypto-tax-cutting-bill-passes-national-parliament
2️⃣ German Regulator Reportedly Rejects Binance’s Crypto Custody License Request ❌
According to local reports, the German Federal Financial Supervisory Authority (BaFin) has rejected crypto exchange Binance’s application for a custody license. However, the report added that it's unclear if the denial was a formal decision from the Federal Financial Supervisory Authority (BaFin) or an intention expressed in ongoing discussions.
In response to the report, a Binance spokesperson stated,
"While we are unable to share details of conversations with regulators, we continue to work to comply with BaFin‘s requirements. As expected, this is a detailed and ongoing process. We are confident that we have the right team and measures in place to continue our discussions with regulators in Germany.”
https://cointelegraph.com/news/germany-rejects-binance-crypto-custody-license-demand
3️⃣ PayPal Veterans Launch SWIFT-Like Cross-Border Payments Network on Sui 🏦
Six Clovers, a venture-backed Fintech startup founded by PayPal veterans in 2021, has reportedly launched the Versal Network on the Sui blockchain in order to provide companies with a service that can facilitate faster, more cost-effective and more secure cross-border payments.
Jim Nguyen, co-founder and CEO of San Francisco-based Six Clovers, stated,
"Our vision of unlocking the power of on-chain digital assets for the next billion users is being made possible on Sui. The way to do this is to close the gap between established e-commerce and Web3 commerce, by abstracting the blockchain and making the infrastructure invisible to customers."
https://www.theblock.co/post/236720/paypal-veterans-swift-like-versal-network-sui
4️⃣ Candy Digital and Palm NFT Studio Announce Merger 🤝
According to a press release, Candy Digital- a digital collectibles company backed by Gary Vaynerchuck and Palm NFT Studio- a Web3 production firm, are undergoing a merger under the Candy Digital name.
The merged entity will reportedly create digital experiences using NFTs for sports franchises like Major League Baseball (MLB), NASCAR and World Wrestling Entertainment (WWE), as well as entertainment giants such as Netflix and Warner Bros Discovery.
Candy Digital’s CEO Scott Lawin stated,
“We’re thrilled to bring together two teams that have been market leaders in innovation and fan engagement. Palm NFT Studio shares Candy’s excitement about the role that digital assets will play as the connective tissue between fans, brands and content in Web3, and we’re looking forward to bringing world-class brands like Warner Bros. Discovery and DC to the Candy platform and community.”
https://www.coindesk.com/web3/2023/06/29/gary-vaynerchuk-backed-candy-digital-and-web3-production-company-palm-nft-studio-announce-merger
5️⃣ CME Group Set to Introduce ETH To BTC Ratio Futures 🚀
The derivatives exchange Chicago Mercantile Exchange (CME) Group is reportedly planning to launch Ether/Bitcoin Ratio futures by July 31, if approved by regulators. The futures will be cash-settled with the value determined by dividing the final settlement price of CME Group Ether futures by the final settlement price of the corresponding CME Group Bitcoin futures.
Giovanni Vicioso, CME Group’s global head of cryptocurrency products, stated,
Michael Ackerman, a former New York Stock Exchange broker has reportedly been ordered by a federal court judge to pay $54 million in damages and penalties for operating a fraudulent crypto trading scheme. Specifically, Ackerman was ordered to pay $27 million in restitution to the victims as well as $27 million in penalties. Ackerman has also been banned from trading in any markets supervised by the CFTC.
https://www.coindesk.com/policy/2023/06/28/former-nyse-broker-to-pay-54m-to-settle-cftc-crypto-fraud-charges
https://www.theblock.co/post/236735/judge-denies-motion-to-dismiss-most-charges-against-sam-bankman-fried
6️⃣ Azuki NFT Prices Slide 44% After Creator Releases 'Basically Identical' Elementals 🥶
According to data from Cryptoslam, the floor price of Chiru Labs' popular Azuki NFT collection has plummeted by more than 44% in the past 24 hours. Notably, the fall comes shortly after the launch of Chiru Labs’ new NFT collection- ‘Elementals.’ Holders and market watchers slammed the new collection as being the cheaper ‘Walmart’ version of Azuki due to the nearly identical art between both collections.
Charlotte Fang, the creator of the popular Milady NFT collection, tweeted,
“Azuki really sold a 20K collection at 2 ETH exclusively to their own holders extracting $40M only for the art to be revealed as basically identical to the main collection. Bluechip bagholders in disbelief.”
https://www.coindesk.com/web3/2023/06/28/azuki-nft-prices-slide-44-after-creator-releases-basically-identical-elementals
🚨Rally Report🚨
STELLAR
The price of XLM has rallied by 8% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to the recent series of announcements made by Stellar.
🚀 Notably, a number of crypto industry participants including Coinbase, MoonPay and MoneyGram have integrated with the Stellar network for its near-instant and low-cost transactions, over the past week.
If you want to buy or trade XLM, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
Hey Guys,
There is no doubt that the recent BlackRock ETF application is the most promising to date. Coming from an institution that has successfully filed 575 applications before, crypto investors are no doubt licking their lips at the potential that this could unlock.
Indeed, in the last hour it was also reported that Fidelity, another huge asset manager has also filed for a spot instrument application.
So, if these instruments were to be approved, what impact could it have on the market? And, assuming that it isn't approved, what happens then? Could this have been the last chance for any provider to file a Bitcoin ETF?
Well, that's exactly what we will be covering in our video today.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (27/06/23)
Here are some of today’s most important headlines:
1️⃣ Coinbase Provides Crypto Miner Hut 8 With $50 Million Credit Facility 💰
According to a recent press release, Canadian Bitcoin mining company Hut 8 Mining has secured a $50 million credit facility from Coinbase Credit involving Hut 8’s subsidiary, Hut 8 Holdings, as the borrower.
The funds will reportedly be used to fund its operations, which right now includes closing a highly anticipated merger with peer US Bitcoin Corp. The facility provides an initial $15 million term loan, an additional $20 million delayed-draw term loan tranche and comes with the option for an additional $15 million tranche.
Hut 8 CEO Jaime Leverton stated,
"This credit facility gives us additional financial flexibility. At the same time, it ensures that we can maintain our dynamic Bitcoin treasury management strategy going into the halving."
https://www.theblock.co/post/236399/coinbase-provides-crypto-miner-hut-8-with-50-million-credit-facility
2️⃣ U.S. Judge Rejects Binance.US Complaint Over SEC Press Release ⚖️
Judge Amy Berman Jackson, the US federal judge presiding over the SEC’s case against Binance.US, has reportedly denied Binance’s request to curtail the SEC’s use of language pertaining to Binance.US’ management of customer funds in press releases.
The judge stated,
“While all of the lawyers in this case should adhere to their ethical obligations at all times, it is not apparent that Court intervention to reiterate that point is needed at this time, or that it is necessary or appropriate for the Court to get involved in wordsmithing the parties' press releases. Nor is it clear that the agency's public relations efforts to date will materially affect proceedings in this case.”
https://www.coindesk.com/policy/2023/06/26/us-judge-rejects-binanceus-complaint-over-sec-press-release
3️⃣ Robinhood Lays Off About 7% of Its Full-Time Employees ❌
According to a Wall Street Journal report, crypto and equities brokerage firm Robinhood has laid off about 150 employees (roughly 7% of its staff) in order to "adjust to volumes and to better align team structures." Notably, this is the firm’s third round of layoffs in just over a year.
A Robinhood spokesperson stated,
“We’re ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may mean teams make changes based on volume, workload, org design, and more.”
https://www.wsj.com/articles/robinhood-lays-off-about-7-of-its-full-time-employees-2111cb48
4️⃣ Azuki Expands with New 20K Ethereum NFT Collection, Elementals 🔥
Chiru Labs, the Web3 startup behind popular Ethereum NFT collection Azuki, is reportedly expanding the Azuki universe through the launch of ‘Azuki Elementals’- a new 20K NFT collection inspired by the elements found within the Azuki ecosystem.
The sale of the collection opens on Tuesday as a Dutch Auction starting at 2 ETH, with the price falling by 0.1 ETH every five minutes until all 10,000 of the remaining Elementals NFTs have been sold. Access to the sale will first be available to holders of Azuki NFTs or BEANZ.
https://decrypt.co/146153/azuki-expands-new-20k-ethereum-nft-collection-elementals
5️⃣ FTX Has Recovered $7B In Assets So Far, Has Almost $2B to go to Cover Misappropriations ❗️
According to a second investigative report released by FTX debtors on Monday, FTX has recovered about $7 billion in liquid assets, with the search for additional assets still continuing. The report currently estimates the amount of customer assets misappropriated by FTX at $8.7 billion, with $6.4 billion of it held in the form of fiat and stablecoins, which FTX did not differentiate between in its accounting.
CEO and Chief Restructuring Officer John J. Ray III stated,
📣📣 COIN BUREAU NEWSFLASH! – (26/06/23)
Here are some of today’s most important headlines:
1️⃣ Token Issuers in Japan Exempt From 30% Crypto Tax on Paper Gains 🇯🇵
Japan’s National Tax Agency has reportedly partially revised its corporate tax guidelines. The new tax rules provide token issuers with an exemption from paying corporate taxes on unrealised crypto profits. The ruling Liberal Democratic Party has stated that it expects the changes to make it “easier for various companies to do business that involves issuing tokens.”
https://cointelegraph.com/news/token-issuers-in-japan-exempt-from-30-crypto-tax-on-paper-gains
2️⃣ Bored Ape Yacht Club NFT Prices Plunge as Machi Big Brother Makes Major Moves 📉
The floor price of Bored Ape Yacht Club NFTs has fluctuated quite a bit over the weekend. According to data from the NFT marketplace ‘Blur’, this is largely in part due to a series of transactions made by Jeffrey Huang, also known as Machi Big Brother. Specifically, Huang made a flurry of Bored Ape sales and purchases. In total, Huang sold over 50 Apes over the past couple of days, with one transaction alone accounting for the sale of 19 Apes for 651 Ethereum on Blur.
https://decrypt.co/146137/bored-ape-yacht-club-nft-prices-plunge-machi-big-brother
3️⃣ NEAR Foundation Partners With Alibaba Cloud to Accelerate Web3 Growth in Asia 🤝
The NEAR Foundation, the non-profit behind the ecosystem development of the NEAR protocol, has reportedly partnered with Chinese tech giant Alibaba Cloud to accelerate Web3 growth in Asia and the Middle East.
The partnership will allow developers that want to launch new NEAR validators to do so with Alibaba Cloud’s "plug-and-play" infrastructure as a service. This is also expected to attract more developers to build on the NEAR protocol as the partnership allows the NEAR Foundation to access Alibaba Cloud's developer ecosystem across Asia and the Middle East.
https://www.coindesk.com/business/2023/06/26/embargo-26th-june-7am-bst-near-foundation-partners-with-alibaba-cloud-to-accelerate-web3-growth
4️⃣ Amazon Is Spending $100 Million to Teach Cloud Customers About AI 🛠
Amazon Web Services is reportedly investing $100 million to build the AWS Generative AI Innovation Center- a program that will help customers develop and deploy new kinds of artificial intelligence products.
The program will link customers from different sectors including health care, financial services and manufacturing, with company experts in AI and machine learning in order to help them build customised applications using AI technology. A few early users of the innovation centre as highlighted by Amazon include Highspot, Twilio, Ryanair and Lonely Planet.
https://www.bloomberg.com/news/articles/2023-06-22/amazon-is-spending-100-million-to-teach-cloud-customers-about-ai
📣📣 COIN BUREAU NEWSFLASH! – (25/06/23)
Here are some of today’s most important headlines:
1️⃣ Tokenised FTX Claim Is Used as Collateral For A Loan ❗️
According to the bankruptcy claims platform Found, an FTX creditor has made history by making the first on-chain loan backed by an FTX claim. The creditor reportedly pledged his claim as collateral for a loan in the DeFi protocol Arcade. The claim which is worth $31,307 was tokenised and used as collateral for a $7,500 loan to be repaid in five days.
https://cointelegraph.com/news/tokenized-ftx-claim-used-as-collateral-for-loan
2️⃣ 2020 Twitter Hacker Sentenced to 5 Years on Crypto Theft, SIM Swapping Scheme 👮♂️
Joseph O’Connor, a British hacker who goes by the alias PlugwalkJoe, has reportedly been sentenced to five years in a United States prison for his role in stealing roughly $900,000 in an elaborate Twitter hack and a separate crypto-related SIM-swapping scheme in April 2019. Judge Jed Rakoff also ordered O’Connor to pay $794,012.64 in forfeiture.
https://www.coindesk.com/policy/2023/06/23/2020-twitter-hacker-sentence-to-5-years-on-crypto-theft-sim-swapping-scheme/
3️⃣ Judge Grants Hermès Request to Halt All ‘MetaBirkin’ NFT Sales ⚖️
Manhattan-based U.S. Judge Jed Rakoff has reportedly granted French luxury fashion house Hermès’ request to place a permanent injunction on all “MetaBirkin” NFT sales.
The judge stated,
“[The] defendant’s entire scheme here was to defraud consumers into believing, by his use of variations on Hermes’ trademarks, that Hermes was endorsing his lucrative MetaBirkins NFTs. Nothing in the First Amendment insulates him from liability for such a scheme.”
https://cointelegraph.com/news/judge-grants-hermes-request-to-halt-all-metabirkin-nft-sales
4️⃣ Optimism Changes Name to OP Mainnet in Line With 'Superchain' Vision 🆕
The Optimism Foundation has reportedly changed the name of layer 2 network Optimism to OP Mainnet. The organisation explained the move by stating that it was meant to reflect the objective to create a “superchain” network of many Layer 2 blockchains.
The Optimism Foundation tweeted,
"It’s official: the chain formerly known as Optimism is now OP Mainnet. This distinction clarifies the delineation between the OP Mainnet blockchain and the collective vibe and ethos that 'Optimism' encompasses."
https://www.theblock.co/post/236277/optimism-changes-name-to-op-mainnet-in-line-with-superchain-vision
📣📣 COIN BUREAU NEWSFLASH! – (24/06/23)
Here are some of today’s most important headlines:
1️⃣ Belgian Financial Regulator Orders Binance to Cease All Virtual Currency Services ❌
The Belgian Financial Services and Markets Authority (FSMA) has ordered crypto exchange Binance to stop offering virtual currency services in the country immediately. The FSMA stated that Binance violated Belgian laws on Anti-Money Laundering and Combating the Financing of Terrorism by offering crypto-related services “from countries that are not members of the European Economic Area”.
The regulator stated,
“The FSMA has noted that Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area. The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium,"
https://cointelegraph.com/news/belgian-financial-regulator-orders-binance-cease-virtual-currency-services
2️⃣ JPMorgan Starts Euro Blockchain Payments for Corporates 🏦
Banking giant JPMorgan (JPM) has expanded its blockchain-based settlement token JPM Coin to euro-denominated payments for corporate clients. According to Basak Toprak, JPM’s head of Coin Systems for Europe, German tech firm Siemens was the first to conduct euro payment on the platform when the service went live on Wednesday.
https://www.bloomberg.com/news/articles/2023-06-23/jpmorgan-jpm-switches-on-jpm-coin-payments-system-in-euros
3️⃣ Bankman-Fried's Subpoena of Law Firm Is Denied as ‘Fishing Expedition’ ⚖️
U.S. District Judge Lewis Kaplan has reportedly dismissed Sam Bankman-Fried’s (SBF) request to obtain documents from a Silicon Valley law firm, Fenwick & West LLP, as part of his defence strategy in his ongoing federal fraud case. Specifically, Judge Kaplan ruled that Fenwick and FTX debtors aren’t part of the prosecution team and that a subpoena would be no more than an overbroad “fishing expedition.” SBF had reportedly hoped to use the documents to support his claim that he relied on legal advice while engaging in the activities for which he is currently facing prosecution.
https://www.bloomberg.com/news/articles/2023-06-23/bankman-fried-law-firm-subpoena-denied-as-fishing-expedition
4️⃣ SEC Approves First Leveraged Bitcoin Futures ETF 🚀
The U.S. Securities and Exchange Commission (SEC) has reportedly approved Volatility Shares 2x Bitcoin Strategy ETF (BITX) on Friday. Notably, this is the first leveraged Bitcoin futures exchange-traded fund (ETF) approved by the SEC. BITX is scheduled to launch on the Chicago Board Options BZX Exchange next Tuesday, June 27.
Nate Geraci, the co-founder of the ETF Institute, tweeted,
“When we look back on the Bitcoin ETF saga in 5 or 10yrs, this will be one of the most ridiculous aspects... A 2x leveraged futures product launching before a straightforward spot ETF. Wild.”
https://decrypt.co/145996/sec-approves-first-leveraged-bitcoin-futures-etf
5️⃣ Crypto.com Approved to Operate in Spain 🇪🇸
Crypto exchange platform Crypto.com has reportedly secured a virtual asset service provider registration from the Bank of Spain. The regulatory approval, which was granted after a comprehensive review of the firm’s compliance with AML laws, allows the exchange to offer a range of crypto-focused services to customers in Spain.
Kris Marszalek, the CEO of Crypto.com stated,
"Receiving the VASP registration from the Bank of Spain is the latest testament to our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology.”
https://www.coindesk.com/policy/2023/06/23/cryptocom-approved-to-operate-in-spain
📣📣 COIN BUREAU NEWSFLASH! – (23/06/23)
Here are some of today’s most important headlines:
1️⃣ Crypto Custody Firm BitGo Cancels Acquisition of Rival Prime Trust ❌
Crypto custodian BitGo has reportedly terminated its acquisition of rival Prime Trust. Notably, the move comes just two weeks after BitGo had announced that it had reached a preliminary agreement to acquire the firm for an undisclosed amount amid speculation that Prime Trust was facing bankruptcy.
https://www.coindesk.com/business/2023/06/22/cryptp-custody-firm-bitgo-cancels-prime-trust-acquisition
2️⃣ Nevada Regulator Says Prime Trust Can't Meet All Client Withdrawals ❗️
According to a statement by the Nevada Financial Institutions Division, crypto custodian Prime Trust is unable to meet all customer withdrawals due to "a shortfall in customer funds." The regulator issued a cease-and-desist order to the company on June 21, ordering it to stop accepting fiat and cryptocurrency from existing and new clients for custody purposes.
The regulator stated,
"Prime failed to safeguard assets under its custody and cannot meet all client withdrawals. As such, Prime has breached its fiduciary duties to its clients, in violation of Nevada trust laws. NFID’s primary objective is to preserve any enterprise value remaining in Prime for the benefit of Prime’s clients."
https://www.theblock.co/post/236097/nevada-regulator-says-prime-trust-cant-meet-all-client-withdrawals
3️⃣ Winklevoss Twins’ Gemini Launches Ethereum Staking in the UK 🚀
Winklevoss-owned crypto exchange Gemini has officially announced the expansion of Gemini Staking Pro in the United Kingdom. The service, which is currently live in more than 30 countries including the United States (excluding New York), Singapore, Hong Kong, Australia, and Brazil, allows institutions and high-net-worth individuals to become Ethereum validators by locking up at least 32 Ether (ETH).
https://cointelegraph.com/news/gemini-launches-ethereum-staking-in-the-uk
4️⃣ CFTC Charges California Firm, CEO Over Crypto 'Romance Scam' ⚖️
The Commodity Futures Trading Commission has filed its first enforcement action relating to a “romance scam” after it found that a California man and his company misappropriated $1.3 million in funds by tricking at least 29 customers into depositing money that he stated would be allocated for digital asset trading through his company.
Instead, Cunwen Zhu- the California man, collected the money for his personal use and transferred the majority of the funds to bank accounts and digital wallets controlled by those he employed in his alleged scheme.
https://www.theblock.co/post/236072/cftc-charges-california-firm-ceo-over-crypto-romance-scam
5️⃣ Anichess Raises $1.5 Million to Put Magical Twist on Chess ♟
Anichess, an Animoca Brands subsidiary developing a decentralised chess game, has reportedly raised $1.5 million in a seed funding round. The round saw participation from investors such as GameFi Ventures, The Operating Group, Koda Capital, Bing Ventures, 708 Capital and Asymmetry Capital. Anichess has stated that the funds will be used to further expand the team and develop the game ahead of the alpha launch in the first quarter of 2024.
Notably, the game is being developed in partnership with former World Chess Champion Magnus Carlsen’s Play Magnus Group and its Champions Chess Tour. Yat Siu, the co-founder and executive chairman of Animoca Brand, stated,
“The strong support expressed by investors validates Anichess’ vision of delivering unparalleled experiences for chess players, gamers, and fans. Partnering with Chess.com is an incredible opportunity to work with some of the leading chess players and influencers across the world and to bring chess into the open metaverse.”
https://decrypt.co/145770/anichess-raises-1-5-million-put-magical-twist-chess