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📣📣 COIN BUREAU NEWSFLASH! – (18/07/23)
Here are some of today’s most important headlines:
1️⃣ Binance Cuts Back Employee Benefits, Citing Decline in Profit 📉
According to a Wall Street Journal report, crypto exchange Binance has stopped offering certain benefits to its employees as a result of the company’s declining profits in recent months.
The policy, which went into effect on June 19, affected benefits such as mobile-phone reimbursement, fitness reimbursement and work-from-home expenses among other items. The message by Binance stated,
“Considering the current market environment and regulatory climate that has unfortunately led to a decline in profit, we have to be more prudent with our spending.”
https://www.wsj.com/articles/binance-cuts-back-employee-benefits-citing-decline-in-profit-51d51cf7
2️⃣ Bankrupt Celsius to Spend $24M From GK8 Sale on Legal Expenses ⚖️
According to recent court filings, bankrupt crypto lending firm Celsius has reached a settlement with its Series B holders to distribute $25 million from the sale of crypto custodian GK8 to the shareholders, with $24 million allocated for legal expenses and $1 million to be distributed amongst the group.
The court filing reads,
“The settlement not only unlocks tremendous value for the debtors’ creditors but also affords the debtors and all parties priceless certainty of the way forward. For the reasons set forth herein and the motion, the court should overrule the objections and grant the relief requested in the motion.”
https://cointelegraph.com/news/celsius-bankrupt-to-spend-24-million-from-gk8-sale-on-legal-fees
3️⃣ Aave Companies Launch V2 Lens, Introducing 'Blocking' to Crypto Social App ❗️
The decentralised social media platform Lens Protocol has reportedly rolled out several key features as part of its latest V2 upgrade. Specifically, the upgrade incorporates enhanced external smart contract functionality called “Open Actions” and the ERC-6551 token standard.
This enables the execution of any external smart contract action directly from Lens’ content posts, including the minting of NFTs on an OpenSea contract directly from Lens' published content. It also allows users to block one another on-chain, disabling blocked users from being able to comment, follow, quote-comment, or execute unique, crypto-specific features such as mirror and collect.
https://decrypt.co/148837/aave-companies-launch-v2-lens-introducing-blocking-to-crypto-social-app
4️⃣ Gnosis Lets Crypto Users Make Everyday Purchases From Wallets With Visa 🚀
Gnosis has announced the launch of Gnosis Card and Gnosis Pay- its new crypto debit card and payment network. The Gnosis Card will allow users to make real-world payments with crypto anywhere that Visa is accepted, with funds being directly taken from the wallet. The products will reportedly be available in EU and EEA countries as well as the UK. The company also stated that it has plans to expand into the U.S., Brazil, Mexico, Singapore, and Hong Kong in Q4.
https://www.coindesk.com/tech/2023/07/17/gnosis-lets-crypto-users-make-everyday-purchases-from-wallets-with-visa
📣📣 COIN BUREAU NEWSFLASH! – (17/07/23)
Here are some of today’s most important headlines:
1️⃣ National Australia Bank Joins Crypto Exchange Boycott, Cites ‘Scams’ 🏦
National Australia Bank (NAB)- a major bank in Australia, has revealed that it has been blocking some payments to “high-risk” cryptocurrency exchanges over the past few months. The bank cited the high levels of scam risk in the industry as the reason behind the move.
The bank also revealed that it has intervened in more than A$270 million ($183.8 million) worth of payments that raised scam concerns between March and July. NAB executive Chris Sheehan stated,
“Introducing payment prompts, taking action on spoofing and stopping the use of links in unexpected text messages are among key measures we’ve introduced recently.”
https://cointelegraph.com/news/crypto-national-australia-bank-joins-crypto-exchange-boycott-cites-scams
2️⃣ Ethereum Scaling Solution zkSync Unveils Latest Prover Tech ‘Boojum’ 🚀
Matter Labs, the core developer of Ethereum Layer 2 zkSync Era, has announced the launch of ‘Boojum’- the latest upgrade to the layer-2 network. The ‘Boojum’ upgrade introduces a new STARK-powered proof system that promises superior performance by lower the hardware barrier to help secure zkSync. It is reportedly capable of being run on consumer-grade 8 gigabytes of GPU hardware.
https://decrypt.co/148760/ethereum-scaling-solution-zksync-launches-latest-prover-tech-boojum
3️⃣ A16z-Backed cLabs Submits Plan for Celo To Transition Into Ethereum Layer 2 ❗️
cLabs, the core developer behind the Celo blockchain, has reportedly posted a proposal to transition the Celo layer 1 network into a layer 2 solution built on Ethereum. The proposal, posted on the project’s governance forum, states that the transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain. This will reportedly eliminate the need to monitor tooling and libraries composability through upgrades and make it easier for “Celo developers to utilise the full gambit of Ethereum tooling/libraries.”
https://www.theblock.co/post/239838/a16z-backed-clabs-submits-plan-for-celo-to-transition-into-ethereum-layer-2
4️⃣ Brazilian CBDC Allows Government to Freeze Funds, Developer Finds 🔎
Pedro Magalhaes, a blockchain developer, has reportedly discovered that the Brazilian Central Bank Digital Currency has a built-in feature that allows the government to freeze funds and adjust balances. He made the discovery after reverse-engineering the code of the Application Programming Interface published by the monetary authority on its Github account. The government is yet to respond to Magalhaes’ claims.
https://decrypt.co/148786/brazil-cbdc-allows-central-bank-freeze-funds-adjust-balances
5️⃣ AnubisDAO’s Rug-Pulled 13.5K ETH Washes Away on Tornado Cash 🌪
According to an alert from blockchain investigator PeckShield, the scammers behind the $60 million rug pull of AnubisDAO have finally begun moving the assets after their initial heist back in 2021. They reportedly laundered the funds through the Tornado Cash protocol on July 15 and 16. Approximately 13,556 ETH was divided and moved in batches of 100 ETH transactions.
https://cointelegraph.com/news/anubis-dao-rug-pull-money-washes-away-on-tornado-cash
https://www.youtube.com/watch?v=WxTVMuyTGmw
Читать полностью…
📣📣 COIN BUREAU NEWSFLASH! – (16/07/23)
Here are some of today’s most important headlines:
1️⃣ Ron DeSantis Vows to Ban CDBCs in the US If Elected President 🇺🇸
Speaking at the Family Leadership Summit on July 14, U.S. presidential candidate and Florida Governor Ron DeSantis criticised central bank digital currencies (CBDCs) and promised to ban them in the U.S. if elected president. DeSantis is known for being a vocal opponent of CBDCs and has even signed a bill in Florida back in May that prohibits the use of federal CBDCs as money.
He stated,
“If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country,”
https://cointelegraph.com/news/ron-desantis-vows-to-ban-cdbc-in-the-us
2️⃣ Cathie Wood's Ark Invest Sells More Coinbase Shares Worth Over $50 Million 💰
ARK Invest, the investment management firm led by Bitcoin bull Cathie Wood, has reportedly sold a total of 478,356 Coinbase shares valued at $53 million on July 14. Notably, the sale came after the stock price hit a yearly high of $114.43. The rising stock price is due to Coinbase being listed as a surveillance-sharing partner for several spot bitcoin ETF applicants, including giants BlackRock and Fidelity.
https://www.theblock.co/post/239769/ark-invest-coinbase-sells-cathie-wood
3️⃣ Spanish National Museum Thyssen to Mint Exclusive Collection of Van Gogh NFTs ❗️
The Thyssen-Bornemisza National Museum, a Spanish national museum, has partnered with the metaverse platform ‘The Olyverse’ to mint an exclusive NFT collection featuring masterpieces from Van Gogh. The NFTs, each of which represents an original piece, will reportedly be certified by the Thyssen-Bornemisza National Museum and will be part of a limited series, with only 100 available for purchase in collaboration with Telefónica and its NFT marketplace.
Carlos Grenoir, the CEO of metaverse platform Olyverse, stated,
“By democratizing access to art through NFTs, we hope to enable individuals to experience Van Gogh's works in a new way. Our metaverse serves as a platform to exhibit and explore these digital masterpieces, offering an immersive and enriching experience that transcends traditional museum boundaries.”
https://decrypt.co/148582/olyverse-and-thyssen-museum-bring-van-gogh-masterpiecemetaverse
4️⃣ Entity Representing Binance Customers Seeks Compensation ⚖️
Eeon, a mysterious third-party entity claiming to represent Binance customers, has intervened in the lawsuit filed by the United States SEC against crypto exchange Binance. It claims that the SEC and attorneys for Binance have failed to sufficiently represent the interests of the exchange’s customers.
In its filings, Eeon seeks compensation equivalent to 20% of the daily value of withheld funds per customer from Binance and the U.S. SEC. This approximately comes up to $1000 per day. Eeon has also argued that cryptocurrencies should be deemed commodities due to their predominant use for personal and household purposes rather than commercial purposes.
https://cointelegraph.com/news/binance-customers-represented-by-entity-citing-inadequate-representation
🚨Rally Report🚨
SYNTHETIX
The price of SNX has rallied by 12% in the past 24 hours.
WHY?!
🎉Synthetix founder Kain Warwick has announced the launch of a new decentralised perpetuals exchange called Infinex.
🔎 Infinex aims to provide users with an experience on par with its centralised counterparts by eliminating the need to use a crypto wallet for signing transactions. Instead, users will create a username and password on the DEX for their DeFi activities. Infinex will use Synthetix's SNX token to manage its governance.
If you want to buy or trade SNX, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
📣📣 COIN BUREAU NEWSFLASH! – (14/07/23)
Here are some of today’s most important headlines:
1️⃣ MultiversX Introduces On-Chain 2FA To Combat Theft and Scams 🚀
MultiversX has announced the launch of “Guardians”- an opt-in, on-chain two-factor authentication (2FA) security standard that aims to mitigate the risk of crypto scams and theft. The security standard will allow users to leverage popular 2FA methods like Microsoft Authenticator, Authy, Google Authenticator, or biometrics to provide a second signature for transactions before they are processed on-chain.
MultiversX stated,
“The Guardians feature has been thoroughly battle-tested in a public $20,000 hacking competition, where hundreds of participants, including security experts, unsuccessfully tried to get the bounty from a guarded account despite knowing the 24 words secret phrase that has been leaked publicly.”
https://www.theblock.co/post/239592/multiversx-on-chain-2fa
2️⃣ Multichain Shutters Operations After Chinese Police Take CEO’s Sister into Custody ❗️
Earlier today, cross-chain bridging protocol Multichain announced that it was shuttering operations due to a lack of operational funds and information about its CEO Zhaojun.
It also confirmed the rumours surrounding the detention of CEO Zhaojun and his sister by Chinese police. The authorities have also reportedly confiscated Zhaojun’s computers, phones, hardware wallets, and mnemonic phrases. While the project is protected by multi-party computation, the servers running this were controlled by Zhaojun's personal cloud server account. This is reportedly why the project was unable to initially fix its technical issues as those who would normally sign such transactions had their access revoked.
https://decrypt.co/148559/multichain-shutters-operations-chinese-police-take-ceo-sister-custody
3️⃣ US Crypto Exchanges Give XRP Listings a Second Chance After Court Ruling 🙌
US crypto exchanges Coinbase, Kraken Pro and Crypto.com have relisted XRP for trading on their platforms. Crypto exchange Gemini also stated that it was considering the relisting of XRP for spot and derivatives trading on its platform. Notably, the move comes shortly after SDNY District Court Judge Analisa Torres passed a summary judgement in XRP issuer Ripple’s case against the SEC. The judge ruled that Ripple’s sale of XRP in certain situations did not constitute an investment contract.
https://cointelegraph.com/news/us-crypto-exchanges-second-chance-xrp-listings-after-court-ruling
4️⃣ First Bitcoin Futures Contract Debuts in Argentina 🇦🇷
Argentina’s first BTC index-based futures contract went live on Thursday. The product is reportedly based on Argentinian stock exchange Matba Rofex’s bitcoin index which was approved by the country’s securities watchdog just three months before as part of a strategic innovation agenda.
https://cointelegraph.com/news/first-bitcoin-futures-contract-debuts-argentina
5️⃣ Alex Mashinsky's Bail Set at $40M, Travel Restricted 👮♂️
A U.S. District Judge has reportedly set a $40 million bail bond for Celsius CEO Alex Mashinsky after he was arrested Thursday on charges of fraud. As part of bail, Mashinsky will be restricted from travelling and opening new bank or crypto accounts. Court documents reveal that his wife will sign the bond which will also be secured by a financial claim on his New York City home and bank account. Mashinsky has pleaded not guilty to seven counts, relating to misleading investors and manipulating the price of his CEL token.
https://www.coindesk.com/policy/2023/07/14/alex-mashinskys-bail-set-at-40m-travel-restricted
According to on-chain data, around 9,800 BTC has been moved in three separate transactions by wallets belonging to the U.S. government and linked to the Silk Road seizure of crypto. Analysts speculate the BTC is probably being moved to be sold off on the market. The U.S. government had previously sold 9,861 BTC for $216 million in March.
https://www.theblock.co/post/239176/around-9800-silk-road-bitcoin-starts-moving-in-unconfirmed-transactions
📣📣 COIN BUREAU NEWSFLASH! – (12/07/23)
Here are some of today’s most important headlines:
1️⃣ South Korea to Mandate Firms Issue Crypto Disclosures in Financial Statements 🇰🇷
Yesterday, South Korea's Financial Services Commission released draft rules that require companies that own or issue crypto to disclose their holdings in financial statements from 2024 onwards. The regulator stated that the disclosures must include a range of information, including the amount and characteristics of their crypto tokens, their business models, and their internal accounting policies concerning the sale of crypto and associated profits.
https://decrypt.co/148258/south-korea-mandate-firms-issue-crypto-disclosures-financial-statements
2️⃣ MetaMask Developer ConsenSys Brings Layer 2 Blockchain ‘Linea’ to Ethereum Mainnet 🚀
ConsenSys, the research and development firm behind the popular Metamask crypto wallet, has reportedly released its highly anticipated Layer 2 network Linea on the alpha mainnet. The alpha release will see the network onboard its testnet partners this week and open the network to the public during next week's EthCC conference. Linea had a successful testnet phase with over 5.2 million unique wallets executing over 41 million transactions within just three months, making it one of the largest active projects on the Goerli testnet.
https://www.coindesk.com/tech/2023/07/11/metamask-developer-consensys-brings-layer-2-blockchain-linea-to-ethereum-mainnet
3️⃣ Cboe Reaches Surveillance Agreement with Coinbase for Spot Bitcoin ETFs 🤝
Yesterday, exchange operator Cboe Global Markets amended filings with the United States Securities and Exchange Commission (SEC) for five spot Bitcoin ETF applications to include a surveillance-sharing agreement (SSA) with Coinbase. Specifically, the amended spot BTC ETF applications are for the ETFs from Invesco, VanEck, WisdomTree, Fidelity and the joint fund by ARK Invest and 21Shares.
https://www.theblock.co/post/238944/cboe-reaches-surveillance-agreement-with-coinbase-for-spot-bitcoin-etfs
4️⃣ Former FTX Executive Linked to Campaign-Finance Probe of New York GOP Race 🔎
According to a Wall Street Journal report, Federal prosecutors in Manhattan are investigating former FTX executive Ryan Salame and his girlfriend, ex-congressional candidate Michelle Bond, for possible violations of campaign-finance law.
Specifically, prosecutors are looking at whether Ryan Salame illegally avoided federal contribution limits to Michelle Bond's Republican primary campaign. The investigation dates back to at least April when the couple's home in Maryland was searched and their cell phones were seized. During her campaign, Bond reportedly worked as the CEO of a trade group and also as a $200,000-a-year-consultant for FTX.
https://www.wsj.com/articles/former-ftx-executive-linked-to-campaign-finance-probe-of-new-york-gop-race-c2b50252
5️⃣ New York Prosecutor Charges Hacker Over $9M Exploit of Solana-Based Exchange 👮♂️
Damian Williams, the United States Attorney for the Southern District of New York, has announced the “first-ever criminal case” involving an attack on a smart contract operated by a DEX. The prosecutor has charged Shakeeb Ahmed- a former security engineer for an international technology firm, for fraudulently obtaining $9 million worth of crypto from an unnamed DEX by creating fake pricing data through taking flash loans worth "tens of millions of dollars" to generate fees that he was then able to withdraw. Police arrested Ahmed on Tuesday.
https://cointelegraph.com/news/new-york-prosecutor-charges-hacker-over-exploit-of-solana-dex
UK’s financial regulator- the Financial Conduct Authority (FCA) has reportedly shut down another batch of illegal crypto ATMs during its inspection of 18 sites in May and June. This brings the total sites inspected for the year to 34, with the regulator having “disrupted” machines operating unlawfully in 26 of the 34 inspected sites across the country. The inspections were reportedly conducted in conjunction with the South West Regional Organised Crime Unit and the police forces of Greater London, Bedfordshire and Hertfordshire.
https://www.coindesk.com/policy/2023/07/11/uk-regulator-ramped-up-campaign-against-crypto-atms-in-may-and-june
🚨Rally Report🚨
POLYGON
The price of MATIC has rallied by 8% in the past 24 hours.
WHY?!
🎉 The rally could be seen as a sign of confidence in the recent restructuring of the Polygon Labs team which saw the firm’s Chief Legal Officer Marc Boiron being promoted to the Chief Executive Officer position.
🚀 The bullish momentum can also be attributed to investors’ excitement over the recently announced series of upgrades known as “Polygon 2.0” that aims to establish the “Value Layer” of the internet. The first key milestone in this endeavour involves the implementation of “decentralised governance” by July 17.
If you want to buy or trade MATIC, 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/
🚨 New Video Alert!! 🚨
There are no shortage of rabbit holes when it comes to CBDCs, but it seems that the rabbit holes go deeper when it comes to fast payments. Most of you will have heard about FedNow by now, but did you know 40 countries have fast payment systems already?
These fast payment systems seem to be a product of a secretive initiative by the World Bank called Project FASTT, which was apparently funded by the Bill and Melinda Gates Foundation. There’s no shortage of conspiracy about Bill, but this one is real.
As you’ll soon see, the endgame of Project FASTT is to convert every single fast payment system into a CBDC system, and then connect all the CBDC systems together. The worst part is that nobody knows this is happening. That’s why we decided to cover it.
Enjoy!
🚨Rally Report🚨
CHAINLINK
The price of LINK has rallied by 6% in the past 24 hours.
WHY?!
🎉 Chainlink launched its Cross-Chain Interoperability Protocol (CCIP) on Mainnet today. CCIP creates a standard communication system that links applications across both public and private blockchains.
🔎 The early access phase supports Avalanche, Ethereum, Optimism and Polygon (MATIC) networks, with CCIP also adopted by DeFi lending protocols Aave and Synthetix. Investors are bullish as the use cases of CCIP may also extend to traditional finance. Over a dozen financial institutions have been exploring CCIP for instructing token transfers across public and private chains through the existing Swift messaging infrastructure.
If you want to buy or trade LINK, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
It’s been an exciting week to say the least. The Ripple’s win against the SEC has been front and center, but it’s hard to call it a clean victory given the circumstances. The silver lining is that it caused just about every altcoin to pump.
Ripple’s partial victory also appears to have woken up ETH. Ethereum dominance seems to have found a local bottom against Bitcoin, and this could signal a small altcoin season for ETH and other alts. There’s more to it than that, as you’ll see.
On the macro front, it seems that investors around the world are calling on China to stimulate before it enters and inevitable recession. So far, China and resisted, and this restraint could be holding the crypto market back from its full potential.
Enjoy!
🚨Rally Report🚨
1INCH
The price of 1INCH has rallied by 15% in the past 24 hours.
WHY?!
🐳 There seems to be some whale activity behind the recent surge as Korean crypto exchange Upbit saw a hefty uptick in trading volume yesterday.
🚀 1inch was the second most traded coin on the exchange and saw a 24-hour trading volume of $360 million. Notably, this is 15 times more than the 30-day average trading volume of 1inch.
If you want to buy or trade 1inch, 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/
🚨 New Video Alert!! 🚨
There is no question that the institutions are knocking on crypto's door. Over the past few weeks, we have seen increasing demand for institutional products and services.
Indeed, the recent loss of the Ripple case by the SEC has now provided a major green light for several investors or platforms to jump into the crypto markets. Regulation by enforcement is a losing strategy.
That's why Coinbase's recent "state of crypto" is such an important report. It breaks down some of the biggest trends in corporate and institutional adoption in crypto.
And it's the subject of the video today.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (15/07/23)
Here are some of today’s most important headlines:
1️⃣ SEC Accepts Blackrock’s Bitcoin ETF Application, Signalling Regulatory Review 🔎
According to reports, the United States Securities and Exchange Commission (SEC) has officially acknowledged Blackrock’s application for a spot Bitcoin exchange-traded fund (ETF). Notably, the announcement comes just a day after a similar application by Bitwise was also acknowledged. The SEC’s acknowledgement indicates the commencement of the official review process for BlackRock's ETF proposal.
https://cointelegraph.com/news/sec-accepts-black-rock-bitcoin-etf-application-signaling-regulatory-review
2️⃣ Coinbase to Pause Staking in California, New Jersey, South Carolina and Wisconsin ❗️
United States-based crypto exchange Coinbase is reportedly pausing its retail staking service for users in California, New Jersey, South Carolina and Wisconsin. The move comes as a result of the four states ordering the exchange to make changes to those services while its proceedings against such staking services move forward.
Coinbase stated,
“We strongly disagree with any allegation that our staking services are securities. But we will fully comply with the preliminary state orders where required, even though that comes before we’ve had an opportunity to defend ourselves.”
https://www.coindesk.com/business/2023/07/14/coinbase-to-pause-staking-in-california-new-jersey-south-carolina-and-wisconsin
3️⃣ Binance Lays Off Over 1,000 Employees 🧐
According to a Wall Street Journal report, global crypto exchange Binance has laid off over 1,000 employees in recent weeks. A spokesperson stated that they believe the exchange would continue to lay more people off, potentially dismissing "more than a third of its staff.” Notably, the layoffs come at a time when the exchange is engaged in an ongoing legal investigation from the U.S. Securities and Exchange Commission (SEC).
The spokesperson stated,
“As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic. This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and expertise in critical roles.”
https://www.wsj.com/articles/binance-lays-off-over-1-000-employees-d59ff6ad
4️⃣ Jay-Z’s Roc Nation and Puma Drop NFT-Enhanced Sneakers 👟
Apparel giant Puma and entertainment agency Roc Nation have reportedly collaborated to drop a new series of sneakers that are tied to NFTs and pay homage to the evolution of the mixtape.
The sneakers, which cost $130 a piece, come with an NFC-powered chip which, when scanned, unlocks “exclusive content, weekly mixtape drops, and unfettered access to life behind the scenes as a Roc Nation artist.” Alexander-John and Emory Jones are reportedly behind the design of the sneaker collection while the digital experience has been led by Legitimate, a startup bridging the gap between physical products and digital experiences through its proprietary “LGT Tag” technology.
https://decrypt.co/148651/jay-z-roc-nation-puma-drop-nft-enhanced-sneakers
5️⃣ Mutiny Launches 'Normie-Ready' Lightning Wallet Avoiding Apple, Google App Stores 🚀
Bitcoin wallet startup ‘Mutiny’ has reportedly released the beta version of its self-custodial browser-based Lightning wallet. The wallet aims to help users control their own funds by avoiding restrictions that might be placed on wallets distributed through app stores run by Apple or Google.
Mutiny CEO Tony Giorgio stated,
“Our main difference compared to other Lightning wallets like Phoenix and Muun is that our wallet is a progressive web app (PWA). So we can ship and push updates that are not restricted to the limitations of the Apple or Google store platforms.”
https://www.theblock.co/post/239615/mutiny-normie-ready-lighting-wallet-avoiding-apple-google-app-stores
🚨 New Video Alert!! 🚨
You know that we couldn't finish off the week without covering what happened in the last 24 hours!
Ripple, XRP & Mashinsky in our latest clips vid!
https://www.youtube.com/watch?v=7eo26hs_bTY
🚨Rally Report🚨
XRP
The price of XRP has rallied by 65% in the past 24 hours.
WHY?!
🎉 Yesterday, Judge Analisa Torres passed a partial summary judgement in XRP issuer Ripple’s case against the SEC.
🚀 The judge ruled that Ripple’s sale of XRP in certain situations did not constitute an investment contract. This specifically includes its sale of XRP via crypto exchanges and its use of XRP as payment for services.
If you want to buy or trade XRP, 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/
🚨 New Video Alert!! 🚨
There’s no shortage of black swans swimming in the crypto market these days, and one of the biggest is the possible implosion of Digital Currency Group. This possibility was all but forgotten until Gemini sued DCG. Now the risk is center stage, and very real.
Trying to fill you in here is a futile endeavor, but consider this. DCG is arguably the largest company in cryptocurrency. It has a stake in almost every major crypto company and project, not counting the billions in BTC, ETH, and other cryptos it holds.
DCG also happens to be billions of dollars in debt, and hasn’t managed to pay up yet. Creditors are getting impatient, and DCG has been trying to avoid liquidating its portfolio for as long as it can. In the next few months, it may have no other choice.
You need to watch this one until the end.
📣📣 COIN BUREAU NEWSFLASH! – (13/07/23)
Here are some of today’s most important headlines:
1️⃣ Polygon Proposes Upgrading MATIC Tokens to Become POL 🤩
Ethereum layer-2 development firm Polygon has proposed a technical upgrade that will see its native MATIC token converted into POL- a multipurpose token that can be used to stake and validate multiple chains within the Polygon ecosystem. The proposal is part of Polygon’s 2.0 initiative. It has proposed a lengthy grace period of at least four years for token holders to complete the upgrade process. However, the implementation of the proposed upgrade is subject to endorsement from the Polygon community.
https://www.theblock.co/post/239350/polygon-upgrade-matic-tokens-to-pol
2️⃣ NBA Top Shot Creator Dapper Labs Cuts Jobs in NFT Downturn ❌
Earlier today, Roham Gharegozlou- the CEO of NFT technology firm Dapper Labs announced the firm’s third round of staff layoffs in less than a year. The latest round will see “51 brilliant colleagues and friends” leave the firm, including full-time staff and C1 contractors.
Gharegozlou stated,
“With this restructure we have made the business more lean, which is going to let us do the right thing for our fans and grow our communities in the most healthy ways possible.”
https://www.bloomberg.com/news/articles/2023-07-13/nft-firm-dapper-labs-makes-job-cuts-parts-ways-with-51-people
3️⃣ Google Will Let Android Play Store Games and Apps Offer NFTs 🏆
In its latest policy update, Google announced that it will now allow video game publishers on its Android Play Store to incorporate digital assets such as NFTs into their apps and games in the store. It stated that companies that wish to do so must make it clear in the Play Console that the app has blockchain-based elements. However, it also clarified that while game developers can incorporate NFTs in games, they cannot be used in any wagering or betting mechanics unless they meet Google’s gambling eligibility requirements.
https://decrypt.co/148331/google-android-play-store-games-apps-nfts
4️⃣ Coinbase Adds Messaging Function to Crypto Wallet 🚀
Crypto exchange Coinbase has reportedly partnered with the Extensible Message Transport Protocol project (XMTP) to introduce an encrypted messaging feature in its wallet offering. The feature will allow crypto users to establish secure communication channels between Ethereum Layer 1 and Layer 2 accounts, using crypto domain names provided by cb.id, Ethereum Name Service and Lens profiles for identification.
Director of Product Management Siddharth Coelho-Prabhu stated,
“Coinbase is enabling users to easily port their conversations from any of the ~450 applications built on XMTP to Coinbase Wallet. Its infrastructure allows Coinbase Wallet messages to be fully permissionless and interoperable while giving users the freedom to fully own their messages and transactions through their personal, on-chain identity.”
https://www.coindesk.com/business/2023/07/12/coinbase-gets-into-direct-messaging-for-ethereum-crypto-wallets
5️⃣ BNB Beacon Chain to Add ‘Panic’ Feature That Can ‘Halt’ Blockchain ❗️
According to a July 12 statement, the BNB Chain’s upcoming “ZhangHeng” upgrade will add a new feature which will allow the blockchain to “halt” the production of new blocks if certain conditions are met. The move which will massively improve security features for users is expected to occur on July 19 at block height 328,088,888.
The statement reads,
“If a reconciliation error occurs, the blockchain will stop producing new blocks, impacting downstream services such as bridges, deposits, and withdrawals on exchanges. This drastic action is necessary to protect the chain and its users, so core developers and community members should investigate the issue as soon as possible.”
https://cointelegraph.com/news/bnb-beacon-chain-hard-fork-adds-panic-feature-that-can-halt-blockchain
6️⃣ Around 9,800 Silk Road Bitcoin Starts Moving in Unconfirmed Transactions 🧐
🚨 New Video Alert!! 🚨
Not sure if you heard, but the People’s Bank of China recently appointed a new governor.
Why should you care?
Well, let’s just say that Pan Gongsheng has a history of cracking down on crypto. In fact, he seems to have been THE man behind China’s previous crypto crackdowns.
Not only that, but Pan seems to have been the man behind China’s crackdown on tech companies, and even on the country’s real estate market. To top it all off, Pan has been a literal one man plunge protection team for the Chinese yuan, which has recently been crashing.
So, why should you care? Well, besides the fact that Pan’s appointment could impact Hong Kong’s crypto adoption, his moves to stabilise the yuan could destabilise other areas of the economy, namely the US banking system. It’s safe to say that there’s a lot to care about.
Enjoy!
🚨Rally Report🚨
CONFLUX
The price of CFX has rallied by 11% in the past 24 hours.
WHY?!
🎉 Bank of China has announced that it is testing “super SIM cards” equipped with a near-field communication function (NFC) for digital yuan payments in collaboration with telecommunications operators China Telecom.
🔎 This seems to have had a bullish effect on CFX as it had also announced a partnership with China Telecom for the joint development of a Blockchain SIM (BSIM) card, earlier this year. It remains unclear if the newly announced NFC SIM cards have any relation to the BSIM card.
If you want to buy or trade CFX, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
Some of you may have seen a few headlines about a recent report released by the International Monetary Fund or IMF. Global governments seem to be short on money because the IMF wants them to squeeze crypto for extra tax revenues.
This angle is not surprising given that the US has had a similarly aggressive stance when it comes to crypto tax. Not surprisingly, the report makes many references to problematic crypto tax provisions approved by the currency administration.
If countries comply with that the IMF is proposing, crypto could be in trouble, especially the most decentralised cryptocurrencies and protocols. The people in power don’t like technologies they can’t completely control. Go figure!
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (11/07/23)
Here are some of today’s most important headlines:
1️⃣ Crypto Twitter Reacts to Arkham’s New 'Dox-to-Earn' Intelligence Exchange 🤯
Earlier today, blockchain intelligence company Arkham Intelligence tweeted the launch of what it proudly calls the “world’s first on-chain intelligence exchange.” The launch has angered privacy-focused crypto advocates as the exchange allows users to anonymously buy and sell information on the identities of any crypto wallet address through smart contracts.
Crypto Twitter has begun calling the new exchange a “Dox-to-Earn” service. Interestingly, Arkham seems to have already kick-started the doxing spree as users discovered that their emails were already publicly available through easily decodable referral links that were shared by them in hopes of securing a token airdrop.
https://decrypt.co/147920/crypto-twitter-reacts-arkhams-new-dox-earn-intelligence-exchange
2️⃣ Bitcoin Is Set to Quadruple to $120,000 by End of 2024: Standard Chartered 📈
British multinational bank Standard Chartered has reportedly increased its BTC price forecast for the end of 2024 to $120,000 from the forecast of $100,000 previously made in April. It also stated that it sees the price of BTC reaching $50,000 by the end of this year.
The bank stated that it increased its price forecast after accounting for increased miner profitability per BTC due to the upcoming BTC halving event. They stated that the higher profitability meant that miners “can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher.”
https://www.bloomberg.com/news/articles/2023-07-10/standard-chartered-ups-bitcoin-forecast-to-120-000-by-end-2024
3️⃣ Multichain’s ‘Mysterious Withdrawals’ Have Whiffs of A ‘Rug Pull’ — Chainalysis 🔎
According to a recent blog post by blockchain analytics firm Chainalysis, the multimillion-dollar exploit of cross-chain bridge protocol Multichain could have been an internal rug pull. Specifically, Chainalysis believes the exploit to be an “inside job” as it occurred as a result of compromised administrator keys. It also stated that the recent series of issues suffered by Multichain such as the disappearance of its CEO, delayed transactions, and the spurious outflows seen by blockchain sleuths further strengthen its theory of the exploit being an inside job.
https://cointelegraph.com/news/multichain-possible-rug-pull-chainalysis
4️⃣ Republicans Ask Justice Department, SEC To Investigate Prometheum 👮♂️
According to reports, Republican lawmakers, led by Sen. Tommy Tuberville, have written an open letter to Attorney General Merrick Garland and Securities and Exchange Commission (SEC) Chair Gary Gensler asking them to investigate digital asset firm Prometheum regarding its statements around Chinese investment.
The letter states,
"If Prometheum began developing its own technology platform totally independent of its China-based, CCP-tied partners in December 2019 as Mr. Kaplan attempted to lead Congress to believe in his congressional testimony, why was this not made clear in Prometheum's SEC filings? Why would Prometheum continue to assert in SEC filings through 2020 and well into 2021 that it was continuing development efforts with its partners Wanxiang and [Wanxiang subsidiary] Hashkey?"
A Prometheum spokesperson denied the senator's allegations, stating that Prometheum had clearly stated in its written testimony that joint development with Wanxiang and its affiliates formally ended in October 2021.
https://www.theblock.co/post/238718/republican-lawmakers-ask-justice-department-sec-to-investigate-prometheum
5️⃣ UK Regulator Ramped Up Campaign Against Crypto ATMs in May and June ❌