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Social media platform Reddit released its Gen 4 Collectible Avatar series yesterday. The new drop, titled “Retro Reimagined,” is the largest expansion of its limited-edition NFT collection and features an array of artistic reinterpretations of the site’s iconic “Snoo” alien mascot. The collection features designs from 100 independent artists and includes NFTs based on the Cool Cats PFP project, as well as artist Micah Johnson’s Aku NFT character. The price of the Polygon-based NFTs ranges from $2.49 to $199.99.
https://decrypt.co/150229/reddit-polygon-nft-collectible-avatars-gen-4-18-million
6️⃣ Crypto-Friendly BlackRock Starts ‘Digital-First’ Investment Offering in India 🇮🇳
Global investment giant BlackRock has reportedly partnered with Mukesh Ambani’s Jio Financial Services (JFS) to launch “Jio BlackRock”- a $150 million project that reportedly aims to provide “tech-enabled” access to “affordable, innovative investment solutions” to millions of investors in India.
JFS CEO Hitesh Sethia stated,
“The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products.”
🚨Rally Report🚨
STELLAR
The price of XLM has rallied by 15% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to a recent tweet by the Stellar team which stated that the protocol is now ranked as the top blockchain for off-ramp locations by asset. Specifically, Stellar-based USDC stablecoin can reportedly be accessed at 322,000 off-ramp locations while Ethereum-based USDC can only be accessed at 30,180 locations.
🚀 A new report by CCData also revealed that investments in XLM-based products have increased by 62.7% this year. Notably, Grayscale’s XLM product recorded a premium of over 330%.
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/
🚨 New Video Alert!! 🚨
Most of you will know that most of the money in the crypto market comes from institutional investors. Some of the largest institutional investors are hedge funds, and recently PricewaterhouseCoopers did a survey to see what these hedge funds are doing in crypto.
What’s awesome is that PwC did two surveys: one for crypto specific hedge funds, and one for tradfi hedge funds. Obviously, there were some differences, but what they seem to have in common is that they all plan on accumulating crypto in the coming months.
Their biggest concern is also crypto regulation, but this effect is less pronounced for crypto hedge funds. These crypto hedge funds also seem to have some interesting connections to the largest crypto exchanges. They’re also actively trading the largest altcoins.
This is a video you don’t want to miss!
In a keynote address delivered at the WebX conference in Tokyo, Japan, Japanese Prime Minister Fumio Kishida reaffirmed the country’s commitment to fostering the Web3 industry by stating that the technology was part of his administration’s “new capitalism” economic policy which is designed to solve social issues by driving growth and innovation. Interestingly, Binance CEO Changpeng Zhao also made an announcement on the same day regarding the launch of Binance’s crypto exchange services on a new Japanese platform in August 2023.
https://cointelegraph.com/news/binance-web3-japan-to-promote-web3-as-binance-announces-imminent-launch
🚨Rally Report🚨
XDC NETWORK
The price of XDC has rallied by 19% in the past 24 hours.
WHY?!
🎉 The price of XDC has seen an impressive performance this week, with over 74% in gains over a 7-day period.
🚀 Investors seem to be bullish over XDC network’s collaboration with the Japanese crypto trading firm SBI VC Trade in sponsoring WebX 2023- an upcoming event in Japan.
If you want to buy or trade XDC, 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!! 🚨
Another week, another crypto review. It feels like the calm before the storm, doesn’t it?
Last week’s crypto prices were fairly static – too static. You’d be forgiven for thinking that nothing happened at all. There’s always something going on in crypto. All you must do is pay attention!
For example, Bitcoin dominance has been declining, and now Ethereum dominance is starting to decline too. This could mean that altseason is coming soon, but the right question to ask is why? Why is Bitcoin dominance declining, and why is Ethereum dominance declining?
The short answer is whales. Bitcoin and Ethereum whales have been moving lots of BTC and ETH onto exchanges lately. This is surprising considering that we’re apparently on the cusp of another rally. Is this distribution a contrarian indicator?
Stay tuned to find out!
📣📣 COIN BUREAU NEWSFLASH! – (23/07/23)
Here are some of today’s most important headlines:
1️⃣ Alphapo Hot Wallets Drained For $23 Million, HypeDrop Disables Withdrawals 📉
According to a tweet by blockchain sleuth ZachXBT, crypto payments processor Alphapo has had its hot wallets drained for at least $23 million on the Ethereum, Tron and Bitcoin networks.
The attacker swapped the stolen assets on Ethereum for Ether before bridging the Ether to Avalanche and Bitcoin. ZachXBT also noted that the amount of bitcoin stolen from Alphapo is currently undetermined.
Alphapo served as the payment processor for HypeDrop, Bovada, Ignition and other gambling services. Some of these services, such as HypeDrop, suspended customers' withdrawals following the incident.
https://www.theblock.co/post/241048/alphapo-hot-wallets-drained-for-23-million-hypedrop-disables-withdrawals
2️⃣ Evidence Of Crypto Usage by ISIS is ‘Mounting’ — TRM Labs 🔎
According to a report published by blockchain intelligence platform TRM Labs, the use of cryptocurrency by affiliates of the Islamic State of Iraq and Syria (ISIS) has significantly increased over the past 12 months. TRM Labs stated that there is “mounting on-chain evidence” that pro-ISIS networks in Tajikistan, Indonesia and Afghanistan have utilised cryptocurrency to help facilitate operations. A majority of these transactions reportedly involved the use of Tether (USDT) on the Tron network.
https://cointelegraph.com/news/evidence-crypto-usage-isis-trm-labs
3️⃣ OpenAI Brings ChatGPT to Android as AI Boom Continues 🤖
OpenAI is releasing an Android version of its popular ChatGPT chatbot next week. The announcement follows the release of the chatbot’s iOS version in May. Pre-registrations for the app are currently open on the Google Play Store. The Android app reportedly features improved security measures and also offers features like conversation history synchronization across devices.
https://decrypt.co/149622/openai-brings-chatgpt-to-android-as-ai-boom-continues
4️⃣ Ripple Applies for Crypto License in The United Kingdom 🇬🇧
Following its recent partial victory against the SEC, payments firm Ripple has reportedly applied for registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA). The company has also sought a payments license in Ireland as part of its massive regional investment.
https://cointelegraph.com/news/ripple-applies-for-crypto-license-united-kingdom
🚨 New Video Alert!! 🚨
Bitcoin to $120k?!
That's one of the latest price predictions that have been presented by the folks over at Standard Chartered. In their latest institutional research report, they explain exactly why they think that Bitcoin could reach this price next year as well as over $50k by the end of this year.
It's not only Standard Chartered that has some bold price predictions though. There have been a number of other institutional investors that have come forward with similarly bullish outlooks.
Are these realistic? Or are they just another example of blowing hopium smoke?
That's exactly what we will be covering in the video today - you don't want to miss it.
📣📣 COIN BUREAU NEWSFLASH! – (21/07/23)
Here are some of today’s most important headlines:
1️⃣ Canadians Are Having Crypto Stolen From Their Homes, Police Say 👮♂️
According to a warning published on the website of the Royal Canadian Mounted Police, neighbourhoods in Canada are seeing a wave of home-invasion-style robberies specifically targeting victims who are “heavily invested in cryptocurrency.” The attackers reportedly gain access to the victim’s home by posing as “delivery people or persons of authority.” Once inside, the attackers rob the victims of “information that gives access to their cryptocurrency accounts.”
https://decrypt.co/149475/canada-crypto-stolen-homes-police
2️⃣ Coinbase to Wind Down Lending Program Over Coming Months ❌
Crypto exchange Coinbase is reportedly shutting down Coinbase Borrow for retail customers. The Borrow program allowed retail customers to receive cash loans using their Bitcoin as collateral. It also stated that existing loan holders have until November 20 to pay any outstanding balances on their loans. Users who fail to do so will have their BTC collateral sold to close the loans.
Coinbase stated,
"We have decided to fully close Coinbase Borrow for retail users effective November 20, 2023, in order to focus our resources on the products and services that our customers care about most. We have notified impacted loan holders and are taking extra measures to ensure a smooth transition for them, including providing a four-month loan repayment period and access to prioritized customer support through Coinbase One."
https://www.coindesk.com/business/2023/07/20/coinbase-to-wind-down-coinbase-borrow-lending-program-over-coming-months
3️⃣ U.S. House Republicans Introduce Crypto Oversight Bill After Ripple Decision 🇺🇸
Key Republican members of the US House of Representatives have formally introduced a bill that establishes rules for oversight of crypto markets. The bill, which was previewed as a draft in June, seeks to regulate when and how crypto firms should register with the Securities and Exchange Commission or the Commodity Futures Trading Commission. It also provides a pathway for digital assets that start as securities to eventually be regulated as commodities.
https://www.bloomberg.com/news/articles/2023-07-20/house-republicans-sponsor-crypto-bill-to-create-rules-framework
4️⃣ Binance Labs Invests $10 Million In Cross-Chain Defi Lender Radiant Capital 💰
Binance Labs, the venture capital arm of crypto exchange Binance, has invested $10 million in cross-chain lending and borrowing protocol Radiant Capital. The funds will reportedly be used for tech and product development, including expanding collateral and deployment on the Ethereum mainnet. Binance Labs stated that its participation in the funding round was part of its “commitment to supporting innovative projects that will lead the next era of DeFi in a chain-agnostic and user-centric manner.”
https://www.theblock.co/post/240713/binance-labs-10-million-cross-chain-defi-lender-radiant-capital
5️⃣ UK Financial Watchdog Announces Launch of Permanent Digital Sandbox in August 🇬🇧
The United Kingdom’s Financial Conduct Authority (FCA) is reportedly launching a permanent version of its Digital Sandbox which provides support for tech firms in the early stages of product development. The Digital Sandbox is expected to become available on a permanent basis starting on Aug. 1. The development comes after the financial watchdog conducted two successful pilot programs of the initiative.
https://cointelegraph.com/news/uk-financial-watchdog-announces-launch-digital-sandbox
🚨 New Video Alert!! 🚨
The wheels of justice do turn - albeit quite slowly.
It has been over a year since the collapse of Celsius and last week we finally got the news that the US authorities had arrested and charged Alex Mashinsky.
If he is convicted on all of the charges that have been laid out then the theoretical maximum sentence he could face is life behind bars.
The charge sheet is even more damning than anyone could have expected. It goes over some of the most egregious actions that Mashinksy and Co engaged in.
In the video today, we are going to break down exactly what the charges are and what these actions by the DOJ, FTC, CFTC & SEC mean for the markets.
You don't want to miss this
📣📣 COIN BUREAU NEWSFLASH! – (20/07/23)
Here are some of today’s most important headlines:
1️⃣ Nasdaq Halts Plans for Crypto Custody Service ❌
During an earnings call on Wednesday, Nasdaq CEO Adena Friedman revealed that the organisation is dropping its plans for a crypto custody service that it previously planned to roll out in the second quarter of this year.
Friedman explained Nasdaq’s decision, stating,
“We like to operate in environments that have a pretty well-known regulatory underpinning. That’s just where we’re comfortable. The fundamental opportunity changed over the last several months, and then the regulatory overhang changed as well, and I think that just made us decide that it’s not the right time.”
https://www.ft.com/content/e7c3fa57-f12d-43f1-94e4-3dcc535fbc06
2️⃣ Venture-Capital Firms to be Held Liable for DeFi Sanctions Violations Under New US Bill ⚖️
Four U.S. senators- Sen. Jack Reed (D), Sen. Mark Warner (D), Sen. Mike Rounds (R) and Sen. Mitt Romney (R), have co-sponsored a new bipartisan bill titled ‘The Crypto-Asset National Security Enhancement and Enforcement Act of 2023’ (CANSEE). The legislation seeks to prevent criminals from using DeFi for money laundering and sanctions evasion by requiring DeFi protocols to impose bank-like controls on their user base.
This means the DeFi protocol will be held liable for sanctions violations if they are found to have allowed sanctioned individuals to use the protocol. To be precise, the legislation places this liability on the person who controls the DeFi project. In cases where no one controls the service, then the legislation passes that liability to investors, including Venture Capital firms, who have funnelled more than $25 million into the project.
https://www.bloomberg.com/news/articles/2023-07-19/us-bill-would-make-venture-capital-firms-liable-for-defi-sanctions-violations
3️⃣ SEC Chair Gensler Cites 'Wild West' of Crypto in Case to Increase Agency's Budget 🧐
At the U.S. Senate Committee on Appropriations on Wednesday, SEC chair Gary Gensler made a pitch for additional funding of $109 million for his agency’s enforcement budget. In his pitch, Gensler told lawmakers that the agency needed to expand to protect investors.
He cited “the Wild West of the crypto markets” which he claims is “rife with noncompliance” as one of the reasons that drives the agency’s need for additional funding. With the funding, Gensler said he plans to increase the number of full-time positions at the agency from 4,685 in 2023 to 5,139 in 2024.
https://www.coindesk.com/policy/2023/07/19/sec-chair-gensler-cites-wild-west-of-crypto-in-case-to-increase-agencys-budget
4️⃣ RFK Jr. Announces Bold Plan to Back Dollar with Bitcoin, End Bitcoin Taxes 🇺🇸
Speaking at a Heal-the-Divide PAC event Tuesday evening, U.S. Democratic presidential candidate Robert F. Kennedy Jr. unveiled plans to exempt BTC from capital gains tax when converted into U.S. dollars. He also stated that he was planning to back the US dollar with "real finite assets" such as gold, silver, platinum and bitcoin.
He stated,
"Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity. My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or bitcoin.”
https://www.thestreet.com/cryptocurrency/rfk-jr-announces-plan-to-back-dollar-with-bitcoin-end-bitcoin-taxes
5️⃣ Kuwait Bans Crypto and Virtual Assets Transactions ❗️
📣📣 COIN BUREAU NEWSFLASH! – (19/07/23)
Here are some of today’s most important headlines:
1️⃣ South Korea's Shinhan Bank Tests Stablecoin Payments on Hedera Network 🇰🇷
South Korea's Shinhan Bank has reportedly completed its second proof-of-concept for stablecoin remittance payments using Hedera's distributed ledger technology. The project aims to lower fees and settlement times for cross-border payments.
Byunghee Kim, who leads blockchain at Shinhan Bank, stated,
“Stablecoins offer a low-cost, fast, and reliable way to transfer value across borders, which can help to increase financial inclusion and improve access to financial services for individuals and businesses in underserved communities.”
https://www.theblock.co/post/240219/south-koreas-shinhan-bank-tests-stablecoin-payments-on-hedera-network
2️⃣ Prime Trust Put into Receivership Amid Shortfall in Funds, Charges It Misused Customer Money ⚖️
The Eighth Judicial District Court of Nevada has reportedly approved a petition from the state’s Financial Institutions Division (NFID) to place crypto custodian Prime Trust into receivership. The approval comes after the state ordered the company to cease all activities amid a shortfall in customer funds and accusations that it misused money from its customer accounts to satisfy requests for withdrawals from its “legacy wallets.”
https://www.coindesk.com/business/2023/07/18/prime-trust-put-into-receivership-charged-with-using-customer-funds-to-buy-crypto
3️⃣ Futureverse Raises $54 Million From 10T, Ripple Labs for Metaverse Push 💰
Crypto tech and gaming startup Futureverse has reportedly raised $54 million in a Series A funding. The round was led by venture capital firm 10T Holdings and saw participation from other investors such as Ripple Labs. Futureverse has stated that it will use the funds for research and development, as well as to further its gaming-focused blockchain called The Root Network which supports the use of XRP and its NFTs.
10T CEO and Chief Investment Officer Dan Tapiero, stated,
“Futureverse has developed an immersive and vertically-integrated metaverse platform that acts as an AI technology provider, metaverse infrastructure builder, layer-1 architect, creative studio, and digital community all in one.”
https://decrypt.co/148945/futureverse-raises-54-million-10t-ripple-labs-metaverse-push
4️⃣ Dormant Pre-Mined Ethereum Worth $116M Resurrects After 8 Years 🐳
A wallet that received over 61,000 ETH in the Ethereum ICO eight years ago, has reportedly transferred the entire stash to an address on the Kraken crypto exchange. Notably, the movement of funds comes after a dormancy period of over eight years. The holdings are currently worth over $116 million. The reason behind the wallet’s sudden transfer of ETH to Kraken remains unclear.
https://cointelegraph.com/news/pre-mined-ethereum-worth-116m-resurrects-after-8-years
5️⃣ Ex-FTX Chief Operating Officer Constance Wang Emerges at Sino Global 🤔
Zhe “Constance” Wang, the previous COO of Sam Bankman-Fried’s failed crypto exchange FTX, has reportedly joined crypto venture capital firm Sino Global Capital as its head of gaming. In the past, Wang has been described as Sam Bankman-Fried’s “right hand” in his fundraising drive.
https://www.bloomberg.com/news/articles/2023-07-19/ex-ftx-chief-operating-officer-constance-wang-joins-vc-firm-sino-global-capital
📣📣 COIN BUREAU NEWSFLASH! – (27/07/23)
Here are some of today’s most important headlines:
1️⃣ House Crypto Bills Pass Congressional Committee In ‘Huge Win’ For US Crypto ❗️
The House Financial Services Committee has reportedly voted on and approved a pair of bills that seek to give regulatory clarity to crypto firms. Namely, the Financial Innovation and Technology for the 21st Century Act, and ‘the Blockchain Regulatory Certainty Act, seek to establish rules for crypto firms on when to register with either the Commodity Futures Trading Commission or the Securities and Exchange Commission.
Notably, the votes mark the first time crypto-specific bills were advanced on their own merits and not as part of broader legislation. Republican Congressman Tom Emmer has praised the passing of the Blockchain Regulatory Certainty Act as a “huge win" for the United States.
https://cointelegraph.com/news/crypto-regulatory-framework-bill-pass-house-congressional-committee
2️⃣ Bankman-Fried Illegal Campaign Contribution Charge Dropped by US ⚖️
The U.S. Department of Justice (DOJ) is reportedly dropping the ‘unlawful campaign contributions’ charge against FTX founder Samuel Bankman-Fried (SBF) after the Bahamian government notified the U.S. that the charge wasn’t part of the extradition documents the Bahamas had signed off on. This effectively meant that the US would be violating the extradition treaty between the two countries, if it decided to go forward with the charges.
In a letter to the court, US Attorney Damian Williams wrote,
“In keeping with its treaty obligations to The Bahamas, the government does not intend to proceed to trial on the campaign contributions count.”
https://www.bloomberg.com/news/articles/2023-07-27/bankman-fried-illegal-campaign-contribution-charge-dropped-by-us
3️⃣ Robert F. Kennedy Jr. Says He Bought 14 BTC for His Kids 💰
In a Twitter Spaces interview on Wednesday, Democratic presidential candidate Robert F. Kennedy Jr. revealed that he has purchased a total of 14 BTC, with 2 BTC each for his 7 kids. Kennedy stated that the decision to become a crypto investor came after he was criticised by media outlets for promoting Bitcoin but not owning any.
Kennedy stated,
“Right after that Bitcoin conference I got a big check and I said, okay, you know, I'm going to put my money where my mouth is and so I bought two Bitcoin for every one of my seven children. Now I’m a Bitcoin owner, and I’m sure they’ll now find a different way to come at me, but no one can say I didn’t put my money where my mouth is.”
https://decrypt.co/150273/robert-kennedy-jr-bought-14-bitcoin-in-may
4️⃣ Italy’s Central Bank Taps Polygon, Fireblocks DeFi Project to Help Institutions Dabble with Tokenised Assets 🏦
The Bank of Italy’s Milano Hub innovation centre is reportedly supporting a project focused on developing a security token ecosystem for institutional DeFi over the next six months. The project called the “Institutional DeFi for Security Token" ecosystem, is being developed by the Cetif Advisory in collaboration with other companies such as Polygon Labs and digital asset platform Fireblocks. It will reportedly involve Italian banks, asset managers and financial institutions, including the country’s largest banking group Intesa Sanpaolo which has more than $1 trillion (975 million EUR) in total assets under management.
https://www.coindesk.com/business/2023/07/26/italys-central-bank-taps-polygon-fireblocks-defi-project-to-help-institutions-dabble-with-tokenized-assets
5️⃣ Reddit Launches Gen 4 Collectible Avatars on Polygon 🚀
📣📣 COIN BUREAU NEWSFLASH! – (26/07/23)
Here are some of today’s most important headlines:
1️⃣ ZkSync's Largest Lender Struck by $3.4M Exploit ❌
According to blockchain security firm CertiK, ‘EraLend’- the largest lending protocol on layer 2 network zkSync- has been hit by a $3.4 million “read-only reentrancy attack.” Specifically, this type of attack is one that interrupts a multi-step process and then causes it to continue after a malicious action has been performed. In this case, the attacker manipulated asset prices by flooding the smart contract with repeated calls in order to steal assets.
Shortly after the attack, EraLend tweeted,
"We've experienced a security incident on our platform today. The threat has been contained. We've suspended all borrowing operations for now and advise against depositing USDC. We're working with partners and cybersecurity firms to address this. More updates to follow."
https://www.coindesk.com/business/2023/07/25/zksyncs-largest-lender-struck-by-34m-exploit
2️⃣ CyberKongz to Mint Genkai NFTs on Ronin, Migrate Game to 'Axie' Chain 🦍
Axie Infinity creator Sky Mavis is reportedly partnering with the popular Ethereum-based NFT collection CyberKongz to create a more comprehensive gaming ecosystem for the Ronin blockchain.
As part of the partnership, CyberKongz announced that it will be migrating the CyberKongz NFT minting game called Play and Kollect, from the Polygon network to Sky Mavis’ Ronin side chain.
CyberKongz also announced that a portion of the supply in its soon-to-be-released Genkai NFT collection will be minted on Ronin. Specifically, a total of 4000 out of the 20,000 tokens will be “made available on Ronin" via Sky Mavis’s in-house NFT marketplace called Mavis Market.
https://decrypt.co/149925/cyberkongz-mint-genkai-nfts-ronin-migrate-game-axie-infinity-chain
3️⃣ Alphapo Payment Provider Hack Now Estimated at Over $60M — ZachXBT 🧐
According to the latest report from on-chain sleuth ZachXBT, the recent hack involving crypto payments processor Alphapo’s hot wallets is now estimated to have resulted in a loss of $60 million. ZachXBT had earlier placed loss estimates at roughly $31 million. However, this figure was updated when ZachXBT identified an additional $37 million in stolen assets on both the Tron and Bitcoin networks. The on-chain sleuth also stated that on-chain data points to Lazarus Group as being the potential attacker.
https://cointelegraph.com/news/alphapo-payment-provider-hack-estimated-over-60m-on-chain-sleuth
4️⃣ Ethereum Software Infrastructure Provider Flashbots Becomes Unicorn After Raising $60 Million 🦄
Ethereum infrastructure service Flashbots has reportedly raised $60 million at a valuation of $1 billion in a Series B funding round. The round was led by San Francisco-based firm Paradigm and saw participation from other undisclosed investors who were selected based on their reverse pitches. The funds will reportedly be used to help finance the development of a new version of the technology.
https://www.bloomberg.com/news/articles/2023-07-25/ethereum-software-infrastructure-provider-flashbots-raises-60-million
5️⃣ Avalanche Foundation Creates $50 Million Incentive Program to Purchase Tokenised Assets 💰
The Avalanche Foundation has announced the launch of "Avalanche Vista"- a program that will see the entity allocate $50 million towards the purchase of assets tokenised on the Avalanche blockchain. The program is reportedly intended to showcase the utility of creating on-chain digital representations of "real world" things including equity, credit, real estate and commodities.
Ava Labs president John Wu stated,
"Asset tokenisation isn’t just the future of capital markets, it’s a critical driver of the present. The groundswell of momentum across institutions building on-chain has been astounding, and the Avalanche Foundations is taking a big leap forward with this initiative.”
https://www.theblock.co/post/240989/avalanche-foundation-creates-50-million-incentive-program-to-purchase-tokenized-assets
🚨 New Video Alert!! 🚨
Would you believe me if I told you that the US government is crashing the crypto market? I can’t say for sure, but it seems that it’s done this before. Believe it or not, but the US government is one of the largest BTC holders, and it wants to sell.
These BTC sales have been in the news since March, but they’ve been happening for over a decade. The US government has accumulated hundreds of thousands of BTC over the years. Not through investing of course, but through seizing it from criminals.
With billions of dollars of BTC still left to sell, it begs the question of whether the US government will nuke the market, especially since crypto is starting to be seen as a competitor to the US dollar. Today, I will give you all the answers.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (25/07/23)
Here are some of today’s most important headlines:
1️⃣ Arkham Intel Exchange Goes After Do Kwon Crypto Wallets with First Bounty 🚀
The Arkham Intel Exchange reportedly approved its first-ever bounty hunt on the platform yesterday. Notably, the first bounty hunt involved information relating to wallet addresses belonging to Do Kwon- the former Terraform Labs CEO. The platform approved a submission made by two “on-chain sleuths” (an anonymous user and ErgoBTC) and paid them roughly 9,519 ARKM (worth $5,000) for the information. ErgoBTC has stated that this information could contradict public statements from Terra on holding only one Luna Foundation Guard wallet, in which a reported 313 BTC remains in reserve.
https://www.theblock.co/post/241182/arkham-intel-exchange-goes-after-do-kwon-crypto-wallets-with-first-bounty
2️⃣ Sam Bankman-Fried Agrees to Gag Order with Bail Status in Jeopardy 🔎
US District Judge Lewis A. Kaplan, the federal judge overseeing the criminal case against former FTX CEO Sam Bankman-Fried, is reportedly considering the approval of a proposed order that prohibits people directly involved with the case or anyone acting on their behalf from “publicly disseminating or discussing” information not considered admissible at trial, or “intended to influence public opinion.” The proposed order comes shortly after prosecutors accused SBF of trying to discredit Caroline Ellison, their star witness, by leaking her private journals to The New York Times.
https://www.bloomberg.com/news/articles/2023-07-24/bankman-fried-agrees-to-gag-order-with-bail-status-in-jeopardy
3️⃣ Worldcoin Has 'Major Issues' and Will Take Years to Work, Vitalik Buterin Warns 🧐
In a recently published long-form essay, Ethereum co-founder Vitalik Buterin shared his thoughts about the recently launched Worldcoin human identity verification system by identifying four "major issues" with the project’s design. Specifically, Buterin pointed to privacy, accessibility, centralisation and security as the major risks associated with Worldcoin’s Proof-of-Personhood (PoP) construction.
He then proposed an alternative solution that involved combining the three current approaches: social-graph-based, general-hardware biometric and specialised-hardware biometric techniques, in order to mitigate the issues. He concluded the essay by stating that while it will likely take years to find a formula that works, a world without proof of personhood also has dangers.
https://decrypt.co/149772/worldcoin-has-major-issues-will-take-years-work-vitalik-buterin-warns
4️⃣ Putin Signs Digital Ruble Law Making a CBDC Possible in Russia 🇷🇺
Russian president Vladimir Putin has reportedly approved the Russian central bank’s plan to issue its own digital currency by signing the digital ruble bill into law yesterday. The digital ruble law, which is officially scheduled to take effect from Aug. 1, 2023, will allow the digital ruble to be used for payments along with other methods. According to the new law, the Bank of Russia will manage digital ruble accounts and also control and limit the ways private citizens can spend them.
https://www.coindesk.com/policy/2023/07/24/putin-signed-digital-ruble-law-making-a-cbdc-possible-in-russia
5️⃣ Binance, Billionaire Zhao to Seek Dismissal of CFTC Lawsuit ⚖️
According to recent court filings, Binance Holdings and its executives- Changpeng Zhao (CZ) and Samuel Lim- are planning to seek the dismissal of a complaint filed in March by the United States Commodity Futures Trading Commission. Notably, Binance’s response to the CFTC’s complaint is due on July 27. The filings have also sought the court’s permission to exceed the response’s 15-page limit on supporting briefs by citing the complexity of the case and the number of arguments they plan to make.
https://www.bloomberg.com/news/articles/2023-07-25/binance-and-ceo-zhao-to-seek-dismissal-of-cftc-lawsuit
6️⃣ Japan PM Reaffirms Web3 Plans as Binance Announces Imminent Launch 🇯🇵
📣📣 COIN BUREAU NEWSFLASH! – (24/07/23)
Here are some of today’s most important headlines:
1️⃣ Sam Altman’s Worldcoin Launches WLD Token with More Than Two Million Sign-Ups 🚀
Worldcoin, a project created by OpenAI CEO Sam Altman, announced the launch of its WLD token- the project’s ecosystem token- on July 24. The WLD token will be distributed to more than two million people around the world and is currently listed on multiple crypto exchanges such as Binance, Huobi, Bybit and OKX. The price of the WLD token has already surged by 88% after the exchange listings.
https://www.theblock.co/post/241081/worldcoins-wld-token-surges-88-after-listing-on-multiple-exchanges
2️⃣ Elon Musk Rebrands Twitter to X, Spurring Scores of Wannabe Tokens ❌
Earlier today, Elon Musk announced that he was officially rebranding Twitter to ‘X’- his previously announced all-in-one social media app. The rebranding has already seen the app’ popular blue bird logo replaced with a simple ‘X’ symbol. The rebranding also saw the social media app change its colour scheme from blue to black.
Twitter CEO Linda Yaccarino stated,
“X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine.”
https://www.coindesk.com/markets/2023/07/24/elon-musk-rebrands-twitter-to-x-spurring-scores-of-wannabe-tokens
3️⃣ Congressman Warren Davidson Calls to Ban and Criminalise CBDCs ❗️
Yesterday, United States Republican Representative Warren Davidson published a tweet that urged Congress to ban CBDCs and criminalise their development. Specifically, Congressman Davidson stated that CBDCs act as a tool for coercion and control and accused the Federal Reserve of “building the financial equivalent of the Death Star.” Notably, Congressman Davidson’s tweet came in response to a position advertised by San Francisco’s Federal Reserve Bank for a “senior crypto architect” to work on a CBDC project.
https://cointelegraph.com/news/congressman-warren-davidson-urge-congress-ban-criminalize-cbdc
4️⃣ Nevada Woman Sentenced for Hiring Hitman with Bitcoin to Kill Ex-Husband 👮♂️
Kristy Lynn Felkins, a 38-year-old Nevada woman, has reportedly been sentenced to five years in prison after being found guilty of trying to pay a hitman on the dark web with Bitcoin to kill her ex-husband. Felkins had attempted to use the services of the site called ‘Besa Mafia’ to hire the assassin by paying 12 BTC for the job back in 2016. However, the platform turned out to be a scam site and no harm fell upon her husband.
Felkins had reportedly been after her ex-husband’s “retirement, house and possibly a large life insurance payout” which she stood to gain after his death. However, after the sentencing on Friday, Felkins stated that she’s thankful the person in charge of Besa Mafia didn’t deliver on the agreement they had established and that she was “glad that no harm came” to her ex-husband.
https://decrypt.co/149699/nevada-woman-bitcoin-dark-web-hitman-plot-ex-husband
🚨 New Video Alert!! 🚨
As most of you will know, almost every central bank is working on a central bank digital currency or CBDC. What most of you may not know is exactly when these CBDCs are supposed to be rolled out, nor what central banks plan on doing about crypto.
As it so happens, the Bank for International Settlements or BIS recently published its survey about CBDCs and cryptocurrencies. Given that the BIS is the bank for central banks, this survey has some serious alpha about what they’re all planning to do.
It seems that CBDCs are coming sooner than we think, and the BIS is serious about rallying other international organisations to crack down on crypto. The only question is why and when, and this survey seems to have the answers.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (22/07/23)
Here are some of today’s most important headlines:
1️⃣ SEC Hints at Potential Appeal to XRP Ruling from Ripple Labs Lawsuit 🔎
In a recent filing made to the U.S. District Court in the SEC’s case against Terraform Labs and its former CEO Do Kwon, the agency’s lawyers made comments suggesting it may appeal the recent ruling in its case against Ripple Labs. The comments came as a response to lawyers of Terraform Labs using the Ripple judgement in support of their defence.
The SEC stated,
“Contrary to Defendants’ assertions, much of the Ripple ruling supports the SEC’s claims in this case and rejects arguments Defendants have raised here. However, with respect to the Programmatic and other sales, the SEC respectfully avers that Ripple conflicts with and adds baseless requirements to Howey and its progeny. Respectfully, those portions of Ripple were wrongly decided, and this Court should not follow them. SEC staff is considering the various available avenues for further review and intends to recommend that the SEC seek such review.”
https://cointelegraph.com/news/sec-hints-at-potential-appeal-to-xrp-ruling-from-ripple-labs-lawsuit
2️⃣ McDonald’s Launches ‘McNuggets Land’ in The Sandbox 🍔
McDonald’s Hong Kong has reportedly launched ‘McNuggets Land’- the fast-food brand’s first Web3 experience built in The Sandbox metaverse platform. The launch comes in celebration of the 40th anniversary of the fast-food giant’s popular Chicken McNuggets menu item.
The McNuggets Land virtual experience reportedly features a virtual store with a hidden factory and a tour through the history of Chicken McNuggets. Players can also complete quests to win rewards, such as the SAND utility token and a 365-day free Chicken McNuggets coupon that can be redeemed at the chain's restaurants in Hong Kong. The location will be live in The Sandbox until August 28.
https://decrypt.co/149551/welcome-mcnuggets-land-mcdonalds-launches-metaverse-game-sandbox
3️⃣ New York Couple Accused of Laundering Hacked Bitfinex Crypto Reaches Plea Deal 🤝
Ilya Lichtenstein and Heather Morgan (aka Razzlekhan), the New York couple accused of laundering $4.5 billion worth of crypto linked to the 2016 hacking of the Bitfinex exchange, have entered into a plea agreement with federal prosecutors. The couple is scheduled to appear for an arraignment and hearing on Aug. 3 as part of a plea agreement with prosecutors. While details relating to the plea deal remain undisclosed, federal prosecutors allege the couple conspired with "others known and unknown to the grand jury."
https://www.theblock.co/post/240957/new-york-couple-accused-of-laundering-hacked-bitfinex-crypto-reaches-plea-deal
4️⃣ Craig Wright Will Be Able to Fight Bitcoin Copyright Claim in UK After Winning Appeal ⚖️
A bench of three UK judges has reportedly granted Craig Wright (the man who claims to be Satoshi Nakamoto) the right to argue his case that the Bitcoin file format is well-defined enough to qualify for copyright protection under UK law, by accepting his appeal to a previous court denial. The case relates to Wright’s attempt to lay claim on the legal right to block the operation of Bitcoin and the system that forked from it, Bitcoin Cash, on grounds that they breach his intellectual property rights.
The Bitcoin Legal Defense Fund, a nonprofit set up by former Twitter chief Jack Dorsey to assist developers facing lawsuits, stated,
"This ruling means the judges only agreed that Dr. Wright should be allowed to argue that the Bitcoin file format is sufficiently well-defined to receive copyright protection under UK law. The decision does not address the question of whether the Bitcoin file format should receive copyright protection and whether that copyright belongs to Dr. Wright."
https://www.coindesk.com/policy/2023/07/21/craig-wright-will-be-able-to-fight-bitcoin-copyright-claim-in-uk-after-winning-appeal
According to a recent circular published by Kuwait’s Capital Markets Authority (CMA), the use of crypto for payments, mining and investments has been placed under “absolute prohibition” in the country. The regulator also banned other local regulators from issuing any licenses allowing firms to provide virtual asset services as a commercial business. However, it also stated that any securities or other financial instruments regulated by the Central Bank of Kuwait and the CMA are excluded from the latest prohibitions.
https://cointelegraph.com/news/crypto-kuwait-bans-crypto-and-virtual-assets-transactions
🚨Rally Report🚨
STELLAR
The price of XLM has rallied by 18% in the past 24 hours.
WHY?!
🎉 Latin American crypto firm Bitso has integrated Stellar's Anchor Network to allow companies around the world to make international payments using USDC to Argentina, Colombia and Mexico.
🚀 Investors are bullish as this is the latest in a series of positive developments in recent weeks. Notably, Coinbase had also announced its integration of the Stellar network for USDC deposits and withdrawals.
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/
🚨 New Video Alert!! 🚨
XRP is NOT a security, but what exactly does it mean for crypto? Well, this all depends on whether the SEC tries to appeal the court’s recent ruling. The SEC appears to have an opening to do so. If it doesn’t, it could still create issues for crypto.
Without revealing too much, the judge made a critical assumption when deciding that Ripple’s sales of XRP were not securities (except in one circumstance). This critical assumption is questionable, and it could undo the protection XRP appears to have.
At the same time, the XRP sales that were considered securities could set a precedent that prevents investment into new crypto projects, at least in the USA. This of course assumes that the ruling sets a precedent. Some lawyers claim that it hasn’t yet!
This is one you want to watch until the end.
🚨Rally Report🚨
STELLAR
The price of XLM has rallied by 9% in the past 24 hours.
WHY?!
🔎 The recent rally is likely influenced by Ripple’s partial victory in its case against the SEC. Stellar was founded by Jed McCaleb- one of the co-founders of Ripple.
🚀 Additionally, XLM has also had a series of other positive developments in recent weeks. Notably, Coinbase announced its integration of the Stellar network for USDC deposits and withdrawals.
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/