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"Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path. I appreciate that Zach has made important amendments to his article, and we have mutually agreed to move on from this matter."
Shortly after the announcement, ZachXBT also confirmed that the suit had been dropped and declared that he would return all unused funds that were donated to him to help finance his legal defence.
https://cointelegraph.com/news/machi-big-brother-withdraws-defamation-lawsuit-against-zachxbt
6️⃣ Celsius to Poll Customers on Launching New User-Owned Company ⚖️
Judge Martin Glenn, the US Judge overlooking the Celsius Bankruptcy case, has reportedly approved Celsius’ request to start polling account holders on its proposal to restart as a new user-owned company and distribute an estimated $2 billion of Bitcoin and Ether. However, Judge Glenn stressed that his approval is contingent upon company advisers providing additional information about the volatility of the crypto industry and challenges that could hinder Celsius’ crypto mining operation.
https://www.bloomberg.com/news/articles/2023-08-14/celsius-to-poll-customers-on-launching-new-user-owned-company
🚨Rally Report🚨
THORCHAIN
The price of RUNE has rallied by 14% in the past 24 hours.
WHY?!
🎉 Investors are bullish as THORChain’s Lending Feature launches today.
🚀 The feature is expected to reduce the circulating supply of RUNE as it features mechanisms that burn and mint RUNE when opening and closing loans on the protocol. Investors believe the lending platform will be successful as it allows users to take loans at zero interest, without expiry, KYC and liquidation.
If you want to buy or trade RUNE, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
🚨Rally Report🚨
HEDERA
The price of HBAR has rallied by 17% in the past 24 hours.
WHY?!
🎉 The US Federal Reserve has reportedly added Hedera Hashgraph-based Dropp payment platform to its instant payments system FedNow.
🚀 Investors are bullish as Dropp currently allows small-sized payments in HBAR, USD, and USDC.
If you want to buy or trade HBAR, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
You never really know how much of a saving grace an asset like Bitcoin can be until you are faced with some pretty unprecedented hyper inflation.
While those of us in the west think that we have seen some high inflation, it pales into comparison of the experiences of those in Lebanon, Zimbabwe, Argentina and Venezuela.
In the video today, we are going to explore some examples of the worst inflation around the world. We are also going to explain exactly how citizens in these countries are able to survive thanks to crypto.
This is a vid you can't afford to miss!
🚨Rally Report🚨
THORCHAIN
The price of RUNE has rallied by 20% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to the upcoming launch of THORChain’s Lending Feature. The feature is expected to reduce the circulating supply of RUNE as it features mechanisms that burn and mint RUNE when opening and closing loans on the protocol. Investors believe the lending platform will be successful as it allows users to take loans at zero interest, without expiry, KYC and liquidation.
🚀 This bullish sentiment is further compounded by the success of THORChain’s ‘Streaming Swaps’ feature which was also introduced recently. The feature has helped reduce slippage significantly on the protocol by breaking large transactions into smaller sub-swaps and executing them over a specific timeframe.
If you want to buy or trade RUNE, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
🚨Rally Report🚨
SHIBA INU
The price of SHIB has rallied by 9% in the past 24 hours.
WHY?!
🎉 Investors are bullish after the official Twitter account of the memecoin posted a cryptic message that reads: “Soon ™️”, yesterday.
🚀 The message likely refers to the upcoming launch of Shibarium which people speculate will occur on the 16th of this month.
🤝 The Shiba Inu ecosystem has also recently had a series of developments and partnerships.
If you want to buy or trade SHIB, 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! – (11/08/23)
Here are some of today’s most important headlines:
1️⃣ Bittrex to Pay $24 Million Penalty Over SEC Crypto Allegations ⚖️
Bankrupt crypto exchange operator Bittrex Inc and its non-US affiliate have reportedly agreed to pay a $24 million penalty in order to settle charges of offering U.S. investors access to unregistered securities.
SEC enforcement director Gurbir Grewal stated,
“For years, Bittrex worked with token issuers to 'scrub' their online statements of any indicia that they were investment contracts — all in an effort to evade the federal securities laws. They failed. Today’s settlement makes clear that you cannot escape liability by simply changing labels or altering descriptions because what matters is the economic realities of those offerings.”
https://www.bloomberg.com/news/articles/2023-08-10/bittrex-to-pay-24-million-penalty-over-sec-crypto-allegations
2️⃣ XRP's Market Cap Momentarily Zoomed to Trillions of Dollars on Gemini 📈
Yesterday, crypto exchange Gemini relisted the XRP token on its platform for deposits and trading. However, hours later, users reported seeing “wonky” prices for Ripple’s XRP token. The price of the token even temporarily surged to $50 for a few minutes at 20:30 pm UTC on the exchange. This rocketed the token's marketcap to trillions of dollars before immediately reverting to parity with the spot markets on other exchanges. Analysts state that the price surge was likely a result of low liquidity combined with a market buy order that was filled at an outrageously high price in the hours following the token relisting on Gemini.
https://www.coindesk.com/markets/2023/08/11/xrps-market-cap-momentarily-zoomed-to-trillions-of-dollars-on-gemini
3️⃣ Argentine Agency Opens Investigation into Worldcoin Over Biometric Data 🔎
Argentina’s Agency for Access to Public Information (AAIP) is reportedly investigating Worldcoin to verify the legality of its data collection practices within the South American country.
AAIP stated,
“Cases like this show the need to strengthen the current legal framework regarding the Protection of Personal Data. Citizens have the right, whenever personal data is provided, to have clear and accessible information in relation to the assignment, use and purpose for which the data is collected and processed, especially with regard to sensitive data, such as biometric data.”
https://cointelegraph.com/news/argentine-agency-investigation-worldcoin-biometric-data
4️⃣ Binance Labs Commits $5 Million To Invest in Curve DAO Tokens 💰
Binance Labs, the venture capital and incubation arm of crypto exchange Binance, is reportedly committing a $5 million investment in Curve DAO tokens in exchange for potential deployment on Binance’s BNB Chain. Notably, the investment appears to be part of the recent OTC deals done by Curve founder Michael Egorov.
Yi He, co-founder of Binance and head of Binance Labs stated,
"Curve is the largest stableswap, and as a key protocol in DeFi it has contributed to the steady growth of the space in 2023. Given the recent events that have impacted the protocol, Binance Labs has offered our full support to Curve through our investment and strategic collaboration. We view this cooperation as a starting point and look forward to working together to further propel the growth of the DeFi ecosystem."
https://www.theblock.co/post/244183/binance-labs-commits-5-million-to-invest-in-curve-dao-tokens
5️⃣ India Wants to Use Crypto Tokens to Digitally Sign Documents 🇮🇳
Yesterday, the Indian Ministry of Electronics and Information Technology (MeitY) announced the launch of the Indian Web Browser Development Challenge. The challenge reportedly seeks to “inspire and empower” Indian developers to create an indigenous web browser with an inbuilt Controller of Certifying Authorities (CCA) India root certificate.
📣📣 COIN BUREAU NEWSFLASH! – (10/08/23)
Here are some of today’s most important headlines:
1️⃣ Coinbase's Base Mainnet Officially Opens to The General Public 🤩
Yesterday, crypto exchange Coinbase announced that its new Base blockchain has officially opened to the general public. Notably, the launch features the first time a publicly listed company launched its own blockchain network. At launch, Base features over 100 dApps and service providers as part of its ecosystem.
Jesse Pollak, Coinbase's head of protocols, stated,
"Historically, the aperture of what people can do with crypto has been relatively limited, mostly speculation. In order for Coinbase and crypto and this work that we're doing to have the impact that we all want, we need to move from the place where this is speculation to a place where this is integrated into every part of someone's day-to-day existence."
https://www.theblock.co/post/243899/base-mainnet-onchain-summer
2️⃣ Fireblocks Discloses ‘Zero Day’ Vulnerabilities Impacting Leading MPC Wallets 🥶
Digital asset infrastructure firm Fireblocks has disclosed a set of vulnerabilities (collectively referred to as “BitForge”) that reportedly impacts over 15 widely-used crypto wallet providers that use multi-party computation (MPC) technology. Fireblocks has classified BitForge as a “zero-day” vulnerability – meaning that the vulnerabilities had not previously been identified by the projects.
Fireblocks has stated that Coinbase, ZenGo, and Binance have already worked with the firm to remediate their exposure to potential exploits. Fireblocks also stated that it has reached out to other teams that might be impacted in accordance with the “industry-standard 90-day responsible disclosure process.”
https://www.coindesk.com/tech/2023/08/09/fireblocks-discloses-zero-day-vulnerabilities-impacting-leading-mpc-wallets
3️⃣ DeGods Ditch Polygon, Moving y00ts to Ethereum and Returning $3 Million Grant 🧐
In an announcement tweet made ahead of DeGods' “Season 3” launch, DeLabs the company behind the project revealed that it was planning to migrate its y00ts NFT project from the Polygon network over to the Ethereum mainnet in order to let the project live alongside the startup’s more prominent DeGods collection.
Notably, this is the second network migration for the y00ts project following its previous migration from the Solana blockchain to the Polygon network earlier this year, after Polygon Labs offered a $3 million grant for the move. DeLabs has stated that it will be returning the $3 million grant it received once the project migrates to Ethereum. DeLabs is yet to reveal a date for the migration.
https://decrypt.co/151959/degods-ditch-polygon-moving-y00ts-ethereum-returning-3-million-grant
4️⃣ SEC Seeks to Appeal Ruling That Ripple XRP Isn't a Security ⚖️
The U.S. Securities and Exchange Commission (SEC) has reportedly filed a letter with Judge Analisa Torres of the Southern District of New York seeking leave for an interlocutory appeal of the summary judgement order in the agency’s case against Ripple Labs. The letter asked the Judge to put the case on hold during the appeal, stating that there are multiple other pending court cases that could be affected depending on the appeal’s outcome.
The SEC stated,
“Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed.”
https://www.bloomberg.com/news/articles/2023-08-09/sec-seeks-to-appeal-ripple-labs-ruling-xrp-isn-t-a-security
5️⃣ Maple Finance Secures SEC Exemption for On-Chain Treasury Pools ❗️
"The superseding indictment will make clear that Mr. Bankman-Fried remains charged with conducting an illegal campaign finance scheme as part of the fraud and money laundering schemes originally charged. And as part of the originally charged money laundering scheme, the defendant also concealed the source of his fraudulent proceeds through political straw donations. As the Government will outline in its forthcoming motions in limine [a pretrial motion], the evidence of the defendant’s campaign finance conduct is admissible at trial as direct proof of the Trial Charges.”
https://www.theblock.co/post/243767/doj-will-still-argue-campaign-finance-charges-against-sam-bankman-fried
🚨Rally Report🚨
SHIBA INU
The price of SHIB has rallied by 10% in the past 24 hours.
WHY?!
🎉 Investors are bullish due to the recent series of developments and partnerships made in the Shiba Inu ecosystem. This includes the announcement of Shibarium SSI (Self-Sovereign Identity) and the public testing launch of the Shibarium beta bridge.
🚀 Shytoshi Kusama, the lead developer of Shiba Inu, has also dropped numerous hints about the launch of Shibarium occurring sometime this month.
If you want to buy or trade SHIB, 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!! 🚨
The crypto market has been looking weak lately, and everyone’s been wondering what catalyst could take crypto prices lower, if any.
From our perspective, such a catalyst (if it exists), will come from DeFi, and not just because of the stuff that’s been going on with Curve Finance.
There is lots of leverage in DeFi, and most of this leverage is collateralised against an arguably illiquid asset. No, not CRV. Something much, much bigger…
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (07/08/23)
Here are some of today’s most important headlines:
1️⃣ Curve Offering $1.85 Million Bounty for Exploiter's Identity (And Conviction) 💰
DeFi protocol Curve Finance is reportedly extending the bug bounty previously offered to the hacker to the general public. Thus far, the platform has recouped roughly 73% of stolen funds. Anyone who is able to identify the exploiter responsible for draining the Curve pools will reportedly be entitled to receive $1.85 million.
Curve public comment in an Ethereum transaction's input data, states,
"The deadline for the voluntary return of funds in the Curve exploit passed at 0800 UTC. We now extend the bounty to the public, and offer a reward valued at 10% of the remaining exploited funds (currently $1.85M USD) to the person who is able to identify the exploiter in a way that leads to a conviction in the courts. If the exploiter chooses to return the funds in full, we will not pursue this further "
https://decrypt.co/151555/1-8m-bounty-now-open-public-curve-finance-hacker-misses-deadline
2️⃣ Ethereum Community Baffled by Mysterious $4.5 Million Ether Burn Incident 🧐
On July 26th, an unknown individual using the ENS name nd4.eth sent 2,500 ether ($4.5 million) to a burn address. This has left many in the Ethereum community perplexed as the act effectively destroyed the coins for no specific reason. While the details of why or how this occurred remain unknown, many have jokingly applauded the individual for effectively reducing Ethereum’s supply — effectively aligning with the “Ethereum’s Ultrasound Money” narrative.
Laurence Day, the creator of Wildcat Protocol, tweeted,
“If you didn’t wake up this morning and say thank you to nd4.eth for contributing to the ultrasound money narrative, I want you to have a long, hard think about what you’re trying to achieve here.”
https://www.theblock.co/post/243514/ethereum-mystery-burn
3️⃣ Controversy as MakerDAO’s Spark Protocol blocks users with VPNs ❗️
Spark Protocol, the lending platform recently launched by MakerDAO, has reportedly decided to restrict users from accessing the platform’s front end via virtual private networks (VPNs). This move has sparked criticism among uses, with DeFi analyst Chris Blec stating that he was “disgusted” with the decision and that it was an “actual war on privacy.” Coincidentally, MakerDAO also increased the yield on DAI from 3% to 8%, shortly after it announced the decision.
https://cointelegraph.com/news/makerdao-spark-protocol-block-vpn-users-controversy
4️⃣ Huobi's Stablecoin Reserves Down 30% Amid Reports of Executive Arrests 📉
According to data from Nansen.ai, crypto exchange Huobi’s stablecoin exchange balances have dipped by 33% in the last week. The dip comes shortly after local news outlets in Hong Kong reported that several executives at Huobi had been taken away by police in China. The reports also claim the crypto exchange is facing solvency issues. However, a Huobi spokesperson has denied the claims made in these reports.
https://www.coindesk.com/markets/2023/08/07/huobis-stablecoin-reserves-down-30-amid-reports-of-executive-arrests
5️⃣ CoinGecko Now Has an Index For Crypto Tokens Alleged As Securities 🔎
Crypto price aggregator CoinGecko has reportedly launched a new index that tracks the tokens deemed as securities by the United States Securities and Exchange Commission. The "Top Alleged Securities Coins" page sorts the selection of crypto assets by market capitalisation, placing BNB at the top of the list, followed by Cardano, Solana and TRON.
https://cointelegraph.com/news/coingecko-adds-index-crypto-deemed-securities
🚨 New Video Alert!! 🚨
Q2 was an eventful period in the crypto space. Everything from SEC shenanigans to ETF filings. Protocol upgrades to stablecoin struggles. Crazy rallies to tumultuous dumps.
In short, it was one of the most interesting quarters in crypto's long history - and that says a lot.
Recently, the folks over at Coin Gecko have released their comprehensive summary of what went down in Q2. Not only do they take us through some of the most important developments for the quarter, but they also highlight some interesting events that you may not have known about.
So, in today's video, we are going to break down this report and bring you some of the most important items that were highlighted. We will also give you some of our own commentary around these developments as well as what it could mean for this coming quarter.
This is a vid you don't want to miss!
📣📣 COIN BUREAU NEWSFLASH! – (15/08/23)
Here are some of today’s most important headlines:
1️⃣ Ex-FTX Exec Salame Won’t Testify in Alleged Illegal Campaign Donation Case 🙅♂️
According to an Aug. 14 motion filed by U.S. federal prosecutors, lawyers representing former FTX executive Ryan Salame have stated that Salame will be unavailable as a witness to testify about his role in FTX’s alleged illegal campaign donation scheme.
The filing reads,
“Salame’s attorney has represented that if subpoenaed, Salame would invoke his Fifth Amendment right against self-incrimination.”
https://cointelegraph.com/news/former-ftx-ryan-salame-wont-testify-in-campaign-donation-case
2️⃣ Singapore Financial Regulator Issues Key Requirements for Stablecoin Issuers 🇸🇬
The Monetary Authority of Singapore (MAS) has officially released a revised regulatory framework to ensure stability for single-currency stablecoins (SCS) regulated in the city-state. Specifically, the regulations target non-bank issued stablecoins that are pegged to the value of the Singapore dollar or G10 currencies such as the euro, British pound and United States dollar and whose circulation exceeds 5 million Singapore dollars ($3.7 million). The MAS also clarified that it would not prohibit other types of stablecoins from being issued, used or circulated within Singapore. Such stablecoins will reportedly “continue to be subject to the existing DPT [Digital Payment Token] regulatory regime.”
https://decrypt.co/152517/singapore-financial-regulator-issues-key-requirements-stablecoin-issuers
3️⃣ Web3 Gaming Platform Immutable Launches zkEVM Testnet in Bid to Diversify Infrastructure 🚀
Web3 gaming platform Immutable has reportedly commenced public testing of its new layer-2 blockchain Immutable zkEVM in collaboration with Polygon Labs. The new blockchain, which was launched in a bid to reduce dependence on single network infrastructure, has already garnered support from over 20 gaming companies, including GameStop, TokenTrove marketplace, Web-based game distributor Kongregate, game designer iLogos and others.
Immutable’s chief technology officer and co-founder, Alex Connolly, stated,
“This chain, combined with our suite of platform products, is the first end-to-end EVM solution dedicated exclusively to making games successful. We’re already seeing a massive influx from games, players and partners that will make the Immutable ecosystem irresistible for the next generation of web3 games."
https://www.coindesk.com/tech/2023/08/14/immutable-web3-gaming-platform-launches-zkevm-testnet-in-bid-to-diversify-infrastructure
4️⃣ CoinDesk Lays Off 45% Of Editorial Staff as It Eyes Deal to Sell Company 🔎
Crypto media company CoinDesk is reportedly planning to lay off 45% (estimated to be about 20 people) of its editorial staff due to its parent company Digital Currency Group's plans to bring on strategic investors.
The information was reportedly sourced from an internal memo in which CoinDesk CEO Kevin Worth announced that the firm will be having an all-hands meeting at 4:00 pm ET to discuss the layoffs.
The email reads,
"The purpose of the meeting is to inform everyone that today several roles, predominantly in our media team, were impacted by a reduction in force. This is an incredibly difficult message to send to everyone over email and yet I also wanted everyone at CoinDesk to know as soon as possible what is happening today. This was a required step to ensure a financially sound business moving forward and to set us on the path to close the deal to sell CoinDesk Inc."
https://www.theblock.co/post/244665/coindesk-lays-off-45-of-editorial-staff-as-it-eyes-deal-to-sell-company
5️⃣ Machi Big Brother Withdraws Defamation Lawsuit Against ZachXBT 🤝
Jeffrey Huang, aka “Machi Big Brother," has reportedly withdrawn his defamation lawsuit against internet sleuth ZachXBT.
Huang tweeted,
📣📣 COIN BUREAU NEWSFLASH! – (14/08/23)
Here are some of today’s most important headlines:
1️⃣ Pro-Bitcoin Javier Milei Wins Most Votes in Argentina Primary Election 🇦🇷
Javier Milei, an Argentine libertarian candidate known for his support of Bitcoin and the elimination of the central bank, has reportedly taken the lead in the country’s presidential open primary elections on Sunday.
According to Bloomberg data, with over 90% of the votes counted, Milei is leading with nearly 32% and is trailed by the conservative Together for Change (Juntos por el Cambio) party with just under 30%. Milei, who calls himself an anarcho-capitalist, has described Bitcoin as a reaction against “central bank scammers” who use fiat currency to scam Argentines with inflation.
https://cointelegraph.com/news/bitcoiner-javier-milei-wins-argentina-presidential-primary
2️⃣ DeFi Yield Aggregator Zunami Protocol Suffers $2.1 Million Loss in Exploit ❌
According to an alert by security firm PeckShield, DeFi yield aggregator Zunami Protocol has lost over $2.1 million in crypto after its primary "zStables" liquidity pool on Curve was hit by a price manipulation exploit. The attacker has already begun laundering the stolen funds via Tornado Cash.
Xian Yu, the founder of blockchain security firm SlowMist, tweeted
“This project fell victim to price manipulation attacks, resulting in a loss of over $2.1 million. The key point is, our system detected this risk two months ago, and we informed them privately in advance. Unfortunately, that communication was an unpleasant experience... In hindsight, it appears that this could have been avoided.”
https://www.theblock.co/post/244606/defi-yield-aggregator-zunami-protocol-suffers-2-1-million-loss-in-exploit
3️⃣ Donald Trump, Long Skeptical of Crypto, Holds Up to $500,000 In Ethereum 💰
According to a recently released financial disclosure form submitted to a federal ethics agency, former U.S. President Donald Trump holds up to $500,000 in an Ethereum wallet that appears to be connected to his ‘Trump Digital Trading Cards’ NFT collection that was launched as part of his campaign to return to the White House in 2024. Ironically, Trump is known for being a crypto sceptic.
https://decrypt.co/152361/donald-trump-ethereum-crypto-holdings
4️⃣ PayPal to Roll Out Cryptocurrencies Hub for Select Users 🚀
Payments giant PayPal has reportedly updated its terms and conditions to introduce Cryptocurrencies Hub- a feature that allows users to hold, buy and sell Bitcoin and other cryptocurrencies in their PayPal account. Users can also reportedly use the money acquired from the sale of crypto stored in the Cryptocurrencies Hub to make payments for purchases via PayPal. The feature is initially being rolled out to users who have “a personal PayPal account and a Balance Account in good standing.”
https://cointelegraph.com/news/paypal-cryptocurrencies-hub-launch
📣📣 COIN BUREAU NEWSFLASH! – (13/08/23)
Here are some of today’s most important headlines:
1️⃣ CFTC Charges Fundsz, Four Individuals in Crypto And Precious Metals Fraud ❗️
The U.S. Commodity Futures Trading Commission has reportedly filed a complaint in the U.S. District Court of Florida against four individuals and their unincorporated entity, Fundsz, due to their involvement in a deceptive scheme concerning the trading of cryptocurrencies and precious metals.
Specifically, the CFTC charged them with fraudulent investment solicitations after discovering that the individuals falsified weekly returns to customers and deceived them into believing the investment scheme contributed to charitable efforts. Notably, the individuals claimed their investment scheme could grow their one-time payment of $2,500 to $1 million within four years.
https://www.theblock.co/post/244570/cftc-fundsz-crypto-fraud
2️⃣ Brazil’s Congress Moves to Levy Higher Taxes on Cryptocurrencies 🇧🇷
According to local reports, Brazilian lawmakers have approved amendments to a bill that recognises cryptocurrencies as “financial assets” for tax purposes in foreign investments. Specifically, the amendments seek to raise taxes on cryptocurrencies held overseas by taxing gains from fluctuations in crypto asset prices against Brazil’s fiat currency, as well as foreign exchange rate fluctuations.
The revision reportedly seeks to promote equal tax treatment since crypto investments abroad currently receive lower tax breaks. Under the new rules, overseas earnings up to 6,000 Brazilian reais (~$1,200) will be exempt from taxation while earnings between 6,000 and 50,000 reais (~$10,000) are subject to a 15% tax rate, and anything above that threshold will be taxed at 22.5%.
https://cointelegraph.com/news/brazil-moves-levy-higher-taxes-cryptocurrencies
3️⃣ U.S. Senator Lummis, Crypto Lobbyists Urge Court to Dismiss SEC's Coinbase Lawsuit ⚖️
Several parties have reportedly filed multiple amicus briefs supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the firm. The list of supporting entities includes U.S. Senator Cynthia Lummis, the Blockchain Association, Crypto Council for Innovation, Chamber of Digital Commerce, DeFi Education Fund, Chamber of Progress, Consumer Technology Association, Andreessen Horowitz, Paradigm and half a dozen academics. According to reports, most of the briefs cited the recent Supreme Court case (West Virginia vs. the Environment Protection Agency) which held that regulatory agencies couldn’t broadly exceed their mandate without Congressional approval.
https://www.coindesk.com/policy/2023/08/12/us-senator-lummis-crypto-lobbyists-urge-court-to-dismiss-secs-coinbase-lawsuit
4️⃣ Aragon Aims to Accelerate DAO Launches with Base 🚀
DAO management platform Aragon has reportedly launched two of its DAO-developer tools, the Aragon App and the modular Aragon OSx protocol, on Coinbase's recently released developer network Base.
Aragon’s head of growth Anthony Leutenegger has stated that he believes the Base network has “extremely high” potential to bring more users on-chain. The tools reportedly complement this onboarding by allowing users to set up DAOs, manage the influx of funds onto the network, and aid in the decentralisation process.
https://decrypt.co/152299/aragon-osx-dao-launching-platform-coinbase-base
5️⃣ Uniswap Employee Fired After Memecoin Liquidity Pull: 'Not Behavior We Support or Condone' ❌
The team behind the Uniswap DEX has reportedly fired an employee after discovering they executed a rug pull after deploying a memecoin inspired by the hype of the new friend.tech social platform on Base.
Uniswap founder Hayden Adams tweeted,
“Wanted to let people know this person is no longer with the company. Not behaviour we support or condone.”
https://www.theblock.co/post/244591/uniswap-frenstech
📣📣 COIN BUREAU NEWSFLASH! – (12/08/23)
Here are some of today’s most important headlines:
1️⃣ Sam Bankman-Fried in Custody After Bail Is Revoked Over Leaks 🥶
FTX founder Sam Bankman Fried (SBF) is reportedly back in jail after federal judge Lewis Kaplan revoked SBF’s bail on account of his recent attempts to tamper and intimidate witnesses by releasing information to New York Times reporters. After the bail was revoked, SBF was reportedly placed in handcuffs immediately as marshals escorted him out of the courtroom. His mother cried in the public gallery and was comforted by his father.
https://www.bloomberg.com/news/articles/2023-08-11/bankman-fried-s-bail-to-be-revoked-by-us-judge
2️⃣ Visa Trials Ethereum Gas Fee Payments Using Cards 🚀
In a recent blog post, global payments giant Visa introduced an experimental solution that would allow users to pay gas fees on the Ethereum blockchain in fiat currency using their credit card. A successful test of the experimental solution was reportedly conducted during an internal hackathon on the Ethereum Goerli testnet. The experimental solution leverages account abstraction and the ERC-4337 standard to create "paymaster" – a specialised smart contract that functions as a sponsor for gas fees on user contract accounts.
https://decrypt.co/152178/visa-trials-ethereum-gas-fee-payments-using-cards
3️⃣ Binance Applies for Taiwan AML Compliance 🇹🇼
Crypto exchange Binance has reportedly applied to be registered in Taiwan under the Money Laundering Control Act and the Financial Supervisory Commission (FSC). The news was first reported by a local media organisation that cited Chen Peiyun, co-founder of Taiwan-based crypto exchange BitShine, as having received information directly from the FSC about Binance’s entry into the Taiwan market.
https://cointelegraph.com/news/binance-applies-taiwan-aml-compliance
4️⃣ Curve Finance Has Recovered 70% Of Hacked Funds, With Distribution Planned ❗️
DeFi platform Curve Finance has reportedly recovered 70% of the funds ($50 million) lost in the recent exploit of the protocol. Curve has also officially stated its intention to reimburse users who were impacted by the recent breach and has stated that an “active investigation with regards to the rest is underway.” Each user will reportedly be reimbursed through an equitable distribution of resources.
https://www.theblock.co/post/244438/curve-finance-has-recovered-70-of-hacked-funds-with-distribution-planned
5️⃣ Three Arrows Co-Founder Avoids Big Fine for Snubbing Subpoena Sent Over Twitter ⚖️
Judge Martin Glenn, the judge in charge of the bankruptcy case of Three Arrows Capital, has reportedly denied a motion that would have held 3AC co-founder Kyle Davies guilty of contempt of court on account of not responding to a subpoena sent to him over social media by liquidators attempting to recover money for creditors. If held guilty, the conviction would have seen Davies being subject to a hefty fine.
The Judge stated,
“Until Mr. Davies filed his Opposition, the Court was operating under the presumption that Mr. Davies was a United States national, and that personal jurisdiction might be established at some point if that presumption continued to hold and other jurisdictional facts were proven. Because Mr. Davies’ United States citizenship was a prerequisite for valid service on him in the manner effected, he was not properly served with the subpoena issued by this Court.”
https://www.bloomberg.com/news/articles/2023-08-11/kyle-davies-of-crypto-hedge-fund-3ac-beats-fine-over-twitter-subpoena
Notably, the government has included "support for Web3" as one of the desired features in the browser. Specifically, the government has stated that it wants to give users the ability to use crypto tokens to digitally sign documents in the new indigenous web browser. The total prize money allocated for the challenge is around $400,000 and users have until July 1, 2024, to submit their product.
https://www.coindesk.com/policy/2023/08/10/india-wants-to-use-crypto-tokens-to-digitally-sign-documents
Blockchain-based credit marketplace Maple Finance has reportedly secured a Rule 506(c) RegD exemption from the U.S. Securities and Exchange Commission (SEC). The exemption allows Maple to offer its one-month U.S. Treasury yields to accredited investors in the United States. The USDC cash management pool on Maple allows accredited investors, companies, and DAOs to park their spare USDC and USDT stablecoin stash in one-month U.S. Treasury bills to earn a 4-5% annual yield. Thus far, the pool has seen over $22 million of deposits since opening in April.
https://cointelegraph.com/news/maple-finance-secures-sec-exemption-on-chain-treasury-pools
🚨Rally Report🚨
APTOS
The price of APT has rallied by 9% in the past 24 hours.
WHY?!
🎉 Aptos Labs announced a partnership with Microsoft that will see the layer 1 blockchain expand its tools and services using Microsoft's Azure OpenAI Service.
🚀 This includes the launch of Aptos Assistant- a new chatbot which will answer user questions about the Aptos ecosystem and provide resources to developers who are building smart contracts and decentralised apps.
If you want to buy or trade APT, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
What’s been happening in the markets over the last year has been nothing short of unprecedented. Despite numerous macro and micro headwinds, stocks and crypto have continued to rally – even in the face of declining liquidity!
Everyone got it wrong, except for one man: Russell Napier. Russell is a financial history and macro analyst who became famous for predicting the Asian financial crisis in the 1990s. Many of the predictions he’s made since then have come true.
This begs the questions of how Russell managed to get it right when so many got it wrong, and what he’s saying now. Today’s video gives you all of the answers. By the end, you’ll understand what’s coming and how to prepare – at least according to Russell.
Enjoy!
📣📣 COIN BUREAU NEWSFLASH! – (09/08/23)
Here are some of today’s most important headlines:
1️⃣ Cardano-Based MuesliSwap to Refund ‘High Slippage’ Losses for Users 💸
Yesterday, Cardano-based DEX MuesliSwap announced that it was refunding users who unintentionally lost money after being hit with high slippage over the past year due to a “misunderstanding” about how slippage on the platform works. The MuseliSwap team stated that it “fell short in providing adequate clarity” on the slippage feature within its order book style protocol. The refund process is expected to take up to four weeks and the funds will be automatically distributed by analysing a user’s on-chain trading history.
https://www.coindesk.com/tech/2023/08/09/cardano-based-muesliswap-to-refund-high-slippage-losses-for-users
2️⃣ Banks Face Stepped-Up Scrutiny from Fed Over Crypto Activities 🔎
Yesterday, the United States Federal Reserve announced the launch of the ‘Novel Activities Supervision Program’- a new program that will broaden the scope of the Fed’s supervision of U.S. banks that engage with the cryptocurrency and blockchain industry. Notably, the move doesn’t change any rules for crypto banking but rather defines how the central bank intends to handle its oversight. Activities regulated under the program include the custody, lending, trading, issuance or distribution of crypto including stablecoins.
https://www.bloomberg.com/news/articles/2023-08-08/banks-face-stepped-up-scrutiny-from-fed-over-crypto-activities
3️⃣ Binance Secures Crypto Exchange License in El Salvador 🇸🇻
Crypto exchange Binance has reportedly received two licenses- the Bitcoin Services Provider License (BSP) and the Digital Assets Services Provider License (DASP)- from the Central Bank of El Salvador and the Salvadoran National Commission of Digital Assets (NCDA). The licenses will allow Binance to offer custodial services, process crypto payments, provide digital wallets, and operate a digital asset exchange platform in El Salvador. Notably, Binance is the first crypto exchange approved by the NCDA to operate an exchange within the country.
https://decrypt.co/151727/binance-secures-crypto-exchange-license-el-salvador
4️⃣ USDC Issuer Circle Launches MPC Wallet Beta for Ethereum, Polygon, Avalanche 🚀
USDC stablecoin issuer Circle Internet Financial has announced the release of the beta version of a new, programmable multiparty computation (MPC) wallet service. Developers and merchants can reportedly integrate and personalise Circle’s "programmable wallets" into their applications and help businesses to allow their consumers to send, receive and store cryptocurrencies, including Circle’s USDC stablecoin and NFTs. The service will initially be available on Ethereum, Avalanche and Polygon.
Circle co-founder and CEO Jeremy Allaire stated:
“Circle’s Programmable Wallets is part of a new, core pillar of our strategy to advance global, mainstream utility and adoption of digital assets like USDC and public blockchain-based payments. This new platform marks the first step for Circle’s Web3 services as we work to ease common pain points for developers.”
https://cointelegraph.com/news/usdc-issuer-circle-launches-mpc-wallet-beta-ethereum-polygon-avalanche
5️⃣ DOJ Will Still Argue Campaign Finance Charges Against Sam Bankman-Fried ⚖️
According to recently filed court documents, the U.S. Justice Department plans to file a superseding indictment next week that brings seven charges against Sam Bankman-Fried, including a ‘campaign finance’ charge folded into the original wire fraud charge. Notably, the development comes two weeks after the DOJ previously stated that it couldn't bring a campaign finance charge against the FTX founder due to treaty obligations.
The DOJ stated,
📣📣 COIN BUREAU NEWSFLASH! – (08/08/23)
Here are some of today’s most important headlines:
1️⃣ Crypto Exchange Bitstamp in Talks to Raise Funds for Expansion, CEO Says 💰
According to a Bloomberg report, crypto exchange Bitstamp is in the process of raising fresh funding in order to expand the number of markets it serves around the world. Michael Novogratz’s Galaxy Digital Holdings is reportedly acting as an adviser in the funding round. The funds will be used to launch a licensed derivatives trading operation in Europe and expand to more markets in Asia.
Bitstamp CEO Jean-Baptiste Graftieaux stated,
“Bitstamp is not for sale, and we are not actively looking to sell the company. Our current and exclusive priority is to raise money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to retail and institutional crypto customers.”
https://www.bloomberg.com/news/articles/2023-08-07/crypto-exchange-bitstamp-in-fundraising-talks-seeks-expansion
2️⃣ Payments Giant PayPal to Launch Dollar-Pegged Stablecoin on Ethereum 🚀
Yesterday, global payments giant PayPal announced the launch of PayPal USD (PYUSD)- the firm’s own U.S. dollar-pegged stablecoin. The stablecoin, which will be issued by Paxos Trust Co, is expected to become "a part of the overall payments infrastructure” and marks the payments giant’s entry into the cryptocurrency market. PYUSD will be issued on the Ethereum network as an ERC-20 token and is backed by short-term treasuries, dollar deposits, and cash equivalents.
https://decrypt.co/151586/payments-giant-paypal-launches-dollar-pegged-stablecoin
3️⃣ Hong Kong Regulator Warns ‘Improper Practices’ by Crypto Exchanges Can Be ‘Criminal’ 👮♂️
In a notice issued earlier today, the Hong Kong Securities and Futures Commission warned unlicensed crypto exchanges engaging in “improper practices” that their conduct may be liable to committing a “criminal offence” in the city. It also stated that such entities will be barred from receiving a license under the new regime for crypto retail trading.
The notice reads,
“It has come to the attention of the SFC that, anticipating the transitional arrangements, some unlicensed VATPs set up new entities to provide virtual asset services in Hong Kong. For example, they may, under new or existing entities, launch certain virtual assets for trading by retail clients, trading services in virtual asset derivatives, or arrangements involving virtual assets such as virtual asset ‘deposits,’ ‘savings” or ‘earnings’ which are not allowed under the new regime.”
https://www.theblock.co/post/243537/hong-kong-regulator-warns-improper-practices-by-crypto-exchanges-can-be-criminal
4️⃣ Solana-Based Cypher Protocol Experiences Exploit, Freezes Smart Contract 🥶
Solana-based DEX Cypher Protocol reportedly lost almost $1 million in crypto due to an exploit that occurred yesterday. The protocol’s contracts are now frozen while the team attempts to investigate the cause of the exploit and make contact with hackers to negotiate a return of funds. Notably, the exploit occurred during Cypher’s biannual hacker house mtnDAO which it hosts in Salt Lake City alongside fellow Solana trading protocol marginfi.
https://www.coindesk.com/business/2023/08/07/solana-based-cypher-protocol-experiences-exploit-freezes-smart-contract
5️⃣ Blockchain.Com Scores Payment License from Singapore Central Bank 🏦
The Monetary Authority of Singapore (MAS) has reportedly granted a major payment institution (MPI) license to crypto exchange Blockchain.com. The license will allow the platform to provide digital payment token services to institutional and accredited investors. Notably, the MPI license comes after the platform received in-principal approval from the bank in September last year. The approval makes Blockchain.com the twelfth digital payment token service provider in the country.
https://cointelegraph.com/news/blockchain-com-payment-license-singapore-mas
🚨 New Video Alert!! 🚨
Another Monday, another weekly crypto review!
Today’s edition is jam packed with alpha that you can’t miss. Despite what crypto prices would have you believe, there’s a lot that happened last week, and even more that’s going to come this week.
Of course, it’s impossible to predict what’s going to happen, but the week prior often lends some insight. For example, the SEC seems to be back on the crypto beat. Ethereum’s ecosystem still seems to be under stress which could be relieved by a new layer 2.
The most interesting development has been in the stock market. Bond yields have risen which seems to have caused a crash. This can sound boring on the surface, but upon close examination, it could foreshadow a sudden flash crash among stocks and crypto.
This is one that you can’t miss!
📣📣 COIN BUREAU NEWSFLASH! – (06/08/23)
Here are some of today’s most important headlines:
1️⃣ Elon Musk To Fund Legal Bill of People Treated Unfairly Due to Posting On X ⚖️
In an X thread posted yesterday, Elon Musk stated that X (formerly Twitter) would be funding the legal bills of any user mistreated by their employer for engaging with or posting content on the platform. Musk also added that there was no limit to the funding. The post quickly went viral on the platform and has more than 300K likes at the time of writing.
https://www.business-standard.com/world-news/elon-musk-to-fund-legal-bill-of-people-treated-unfairly-due-to-posting-on-x-123080600137_1.html
2️⃣ Tether Unveils Mining Software to Boost Efficiency and Capacity 🚀
According to a recent tweet by Tether CTO Paolo Ardoino, Tether’s dev team is releasing innovative JavaScript libraries that can facilitate the transmission of commands and signals to BTC mining hardware, including WhatsMiner, AvalonMiner and Antminer. Ardoino also stated that certain parts of the mining software could be made available on open-source platforms in the future.
https://cointelegraph.com/news/tether-unveils-mining-software-to-boost-efficiency-capacity
3️⃣ OPNX Exchange Touted by Three Arrows Founders Bids for Ailing Crypto Lender Hodlnaut 🧐
According to a Bloomberg report, OPNX (the digital-asset exchange linked to the founders of Three Arrows Capital) has offered to inject the equivalent of $30 million in FLEX tokens into the ailing crypto lender Hodlnaut in exchange for a 75% ownership in the firm. The FLEX tokens will reportedly fund a partial creditor payout to finalise claims. The details were reportedly sourced from a term sheet seen by Bloomberg News. If creditors approve the plan, they will receive 30% of their claims in FLEX and other tokens, or a pro-rata payment of up to 95% of the total available corporate asset pool, whichever is higher.
https://www.bloomberg.com/news/articles/2023-08-06/opnx-exchange-touted-by-three-arrows-founders-bids-for-hodlnaut
4️⃣ FBI Warns of Phishing Scams and Social Media Account Hijackers ❗️
In an August 4 public service announcement, the FBI warned people to be aware of “criminal actors posing as legitimate NFT developers” that dupe victims into thinking they are using legitimate platforms to steal their NFTs or crypto.
The post reads,
“Criminals either gain direct access to NFT developer social media accounts or create almost identical accounts to promote new NFT releases. Fraudulent posts often aim to create a sense of urgency, using phrases like ‘limited supply,’ and refer to the promotion as a ‘surprise’ or previously unannounced mint. Links provided in these announcements are phishing links directing victims to a spoofed website that appears to be a legitimate extension of a particular NFT project.”
https://cointelegraph.com/news/fbi-warns-of-phishing-scams-and-social-media-account-hijackers