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🚨Rally Report🚨
AXIE INFINITY
The price of AXS has rallied by 15% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen today among Metaverse and P2E tokens.
🗣 The rally also seems to be triggered by a few bullish X posts recently posted by Jeff Zirlin, the co-founder of Axie Infinity.
If you want to buy or trade AXS, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
🚨 New Video Alert!! 🚨
One of the most common tropes that I have seen about crypto is that it is a "Ponzi scheme".
This is quite ironic given that one of the longest running traditional Ponzi schemes is also the biggest. It's one that is speed running to an implosion that could severely damage the world for generations to come.
It's a Ponzi scheme that we are all part of, and one that is actively being fed by governments around the world. It's a system that is in dire need of a restructuring but due to lack of political will, won't happen.
What is this Ponzi scheme you ask?
Well, you are just going to have to watch our video today to find out 👇👇
📣📣 MARKET MOVING NEWS! (28/10/23)
1️⃣ Gemini Sues Bankrupt Lender Genesis, Its Former Partner, Over $1.6B Worth of GBTC ⚖️
Crypto exchange Gemini has reportedly filed a lawsuit against Genesis Global, its former business partner for its Gemini Earn product, and is seeking to gain control of over 60 million shares of the Grayscale Bitcoin Trust (GBTC) that were pledged as collateral.
Notably, the lawsuit was filed as part of Genesis' bankruptcy case and comes a week after New York Attorney General Letitia James filed a separate lawsuit against Gemini, Genesis and DCG accusing them of defrauding more than 230,000 investors of more than $1 billion.
The lawsuit stated,
"Genesis has repeatedly taken actions to harm Earn users and to hinder and delay Earn users’ recovery of their digital assets. It is time to resolve these issues so that Genesis may move forward with a reasonable plan of reorganisation and Gemini may distribute the proceeds of the collateral to Earn users."
Source
2️⃣ Kraken Warns Users: Your Bitcoin Trading Data Is Headed to the IRS 🔎
Crypto exchange Kraken has reportedly sent an email to select customers, alerting them that it would be sharing their information next month with the U.S. Internal Revenue Service after being mandated to do so by a court order received in June.
Specifically, the affected users include U.S.-based users who made crypto transactions above $20,000 on Kraken between 2016 and 2020. The exchange has been ordered to share details of the affected users’ account history, name, date of birth, Tax ID, address, and contact information with the IRS.
Source
3️⃣ DYdX Chain to Distribute All Network Fees to Validators and Stakers 💰
Decentralised crypto derivatives exchange dYdX officially launched its layer-1 blockchain ‘dYdX Chain’ with the creation of its genesis block at 1 p.m. EST yesterday. According to an update published by the dYdX Foundation, the DYDX token will have extended utility in version 4 and will play a vital role in bolstering the layer-1 chain’s security and governance. Specifically, the token will be staked to network validators, and all protocol fees (including both USDC trading fees and DYDX-denominated gas fees) will be channelled to these validators and stakers.
Source
4️⃣ Binance Founder CZ Loses $12 Billion on Crypto-Trading Slump 📉
According to a Bloomberg report, Binance founder Changpeng "CZ" Zhao's wealth is estimated to have fallen by almost $11.9 billion after the crypto exchange’s recent trading slump. Specifically, the Bloomberg Billionaires Index slashed its estimate of revenues at crypto exchange Binance by 38% after data showed volumes at the firm declined this year.
Source
5️⃣ Nine Protocols Criticise LayerZero’s wstETH Token, Claiming It’s ‘Proprietary’ ❗️
Crypto projects Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router have reportedly published a joint statement criticising wstETH- a new bridged token from cross-chain protocol LayerZero. The statement claims wstETH is “a vendor-locked proprietary standard” that limits the freedom of token issuers. Specifically, LayerZero’s wstETH which is meant to be a wrapped version of Lido’s stETH token was launched without any support or endorsement from the Lido DAO.
Hasu, a strategic advisor for LidoDAO, stated,
"By unilaterally deploying a bridge and marketing it in an official-seeming way, it feels like you are trying to pressure the DAO into accepting your proposal to avoid liquidity fragmentation and bad UX for users. Driving users to it through marketing makes accepting an alternate bridge proposal more painful. These actions put the DAO, Lido stakers, and participating chains in a difficult position."
Source
📣 Club Update: $RLB, is it Worth It?! 📣
One of the most common small-cap altcoin projects that we get asked to review is Rollbit's $RLB.
Rollbit is the fastest growing crypto casino and its RLB token has pulled more than a 10x since the start of the year 🚀
This is expected given that RLB is an exchange token - it has a buy-back and burn mechanism that effectively guarantees its price will keep going up 📈
Like exchange tokens however, there are questions about the entity behind Rollbit...
Well, this has all been broken down in a complete altcoin review that we have done on the Coin Bureau Club! 💥
Our latest review on Rollbit has been posted so if you are interested in hearing our view, signup below 👇👇
Coin Bureau Club ➡️ https://hub.coinbureau.com
📣📣 MARKET MOVING NEWS! (27/10/23)
1️⃣ Taiwan Officially Proposes Crypto Bill with First Reading Passed at Parliament 🇹🇼
The Virtual Asset Management Bill, a crypto bill introduced by Taiwanese legislators has reportedly passed the first reading at Taiwan’s Legislative Yuan. Notably, the bill seeks to provide “better protection” for customers and “properly supervise” the industry. It suggests mandating risk mitigation practices for virtual asset service providers (VASPs), such as separating customer funds from the company’s reserve funds, establishing an internal control and audit system, and joining the local trade association.
Yung-Chang Chiang, a member of the Legislative Yuan who jointly proposed the special act, stated,
"After the first reading of the bill, discussions on the regulatory framework for the virtual asset industry have progressed to the next stage. We hope that the Financial Supervisory Commission can also submit their version of a draft bill to the legislature, allowing various sectors of society to further consolidate consensus during the process."
Source
2️⃣ Ryder Ripps Ordered to Pay Yuga Labs $1.6M In Copyright Lawsuit ⚖️
A United States district court judge has brought an end to the long-running BAYC “copycat” NFT lawsuit by ordering NFT artists Ryder Ripps and Jeremy Cahen to pay Bored Ape Yacht Club creator Yuga Labs a total of $1.57 million in disgorgement and damages, along with legal fees.
The order reads,
"The strength of Yuga’s litigating position makes this case exceptional in comparison to the majority of other trademark infringement cases. This case is dramatically different than most trademark infringement cases because it involves Defendants who are using the cover of satire and parody to justify their use of Yuga’s BAYC Marks without Yuga’s consent. Defendants’ conduct during the pendency of this litigation warrants a finding that this is an exceptional case. Defendants were obstructive and evasive throughout their depositions and during their trial testimony, which unnecessarily complicated these proceedings,"
Source
3️⃣ UK Bill for Seizing Illicit Crypto Finally Becomes Law 🇬🇧
The Economic Crime and Corporate Transparency Bill – a bill that seeks to grant UK law enforcement agencies the power to seize and freeze crypto assets used for crime has officially become law after receiving the King's approval on Thursday. Notably, the bill covers a range of criminal activities from drug trafficking to cybercrime and allows local cops to seize crypto with criminal links even without a conviction.
Source
4️⃣ Fireblocks, UniPass Wallet Tackle Ethereum ERC-4337 Account Abstraction Vulnerability 🤖
Crypto infrastructure firm Fireblocks has reportedly identified and assisted in tackling an ERC-4337 account abstraction vulnerability in the smart contract wallet UniPass. Notably, Fireblocks described it as the first account abstraction vulnerability within the Ethereum ecosystem. The vulnerability was discovered during a white hat hacking operation and was found in hundreds of mainnet wallets. According to Fireblocks, the vulnerability would allow a potential attacker to carry out a full account takeover of the UniPass Wallet by manipulating Ethereum’s account abstraction process.
Source
5️⃣ Bitcoin Senator Urges ‘Swift Action’ Against Binance, Tether for Links to Terrorist Groups ❗️
Crypto-friendly politicians Sen. Cynthia Lummis (R-WY) and Rep. French Hill (R-AR) have reportedly sent a letter to the U.S. Department of Justice urging the agency to press ahead with an investigation into Binance and Tether to see if the crypto giants have helped facilitate funding to Hamas.
The letter states,
https://youtu.be/0wxY1sojA6A?si=6bHTv_Fa05M5tBG_
Читать полностью…
📣📣 MARKET MOVING NEWS! (26/10/23)
1️⃣ Elliptic Says Scale of Crypto-Based Terrorism Funding Is Being Misrepresented 🧐
Blockchain forensics firm Elliptic has issued a statement declaring that there’s “no evidence” that Hamas is receiving significant cryptocurrency donations to fund its attacks against Israel. Notably, Elliptic’s statement comes as a rebuttal to recent articles and letters written by The Wall Street Journal and United States lawmakers, which the firm said had misinterpreted data to make the case that crypto is widely used to fund Hamas’ “terrorist” activities.
Elliptic stated,
"The unique traceability of these assets have meant that the amounts raised remain tiny compared to other funding sources. No public crypto fundraising campaign by a terrorist group has received significant levels of donations, relative to other funding sources."
Source
2️⃣ FTX Cold Wallets Move $19M in Solana, Ether to Crypto Exchanges ❗️
According to a CoinDesk report, cold storage wallets linked to bankrupt crypto firms Alameda Research and FTX have moved more than $19 million worth of assorted tokens to crypto exchange addresses today. The report cited data analysed by on-chain analytics firm Peckshield and CryptoQuant. The wallets are reportedly controlled by the debtor group in control of FTX assets. As per on-chain data, these wallets have made several transactions in the past few weeks.
Source
3️⃣ Polygon Launches POL Token Contract on Ethereum to Eventually Replace MATIC 🔎
Polygon Labs, the developers of the Polygon layer-2 network, has reportedly deployed smart contracts for the project’s next-generation cryptocurrency, POL, on the Ethereum mainnet as the Polygon blockchain gears for a shift towards its ‘2.0’ plan. Notably, the new token is intended to replace the ecosystem’s current token ‘MATIC’ and will support an ecosystem of zero-knowledge-based Layer 2 chains and incorporate features such as staking, community ownership and governance. However, the Polygon team has clarified that users presently don’t need to exchange their MATIC for POL as such a replacement requires governance approval and will be synchronised with the rollout of the Polygon 2.0 upgrade.
Source
4️⃣ JPMorgan Says JPM Coin Now Handles $1 Billion Transactions Daily 🚀
According to a recent Bloomberg Television interview of JPMorgan Chase & Co.’s Global Head of Payments Takis Georgakopoulos, the banking giant’s digital token JPM Coin now handles $1 billion worth of transactions daily and the bank plans to continue widening its usage. Georgakopoulos also stated that the next step in that journey would be to create a retail version of the asset in order to bring that “same efficiency to consumers.”
Source
5️⃣ Circle Launches ‘Points-To-Crypto’ Program with Taiwan Convenience Store Chain 🤝
USDC stablecoin issuer Circle has reportedly partnered with Taiwanese crypto exchange BitoGroup and Taiwan’s second-largest convenience store chain, FamilyMart, to launch a new “Points-to-Crypto” service on the FamilyMart app. The move, aimed at expanding its presence in the market, will allow FamilyMart customers to exchange loyalty points for USDC that will be withdrawn to their BitoPro wallets.
The announcement stated,
“Converting FamiPoints into USDC prevents a loss of value in loyalty points over time and incurs zero transaction fees, democratising access to cryptocurrencies.”
Source
https://www.youtube.com/watch?v=Vr8PQsFOKwM
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"BlockFi’s management, advisors and other stakeholders worked diligently over the past 11 months to reach this critical milestone. We are proud to say that BlockFi reached its Effective Date more quickly and efficiently than many other retail crypto companies."
Source
🚨Rally Report🚨
CONFLUX
The price of CFX has rallied by 10% in the past 24 hours.
WHY?!
🎉 His Highness Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, recently announced a free zone for digital assets in Ras Al Khaimah. The rally comes after the Conflux team revealed that they will be supporting the free zone’s digital and virtual asset initiatives.
🚀 Investors are bullish as this marks the blockchain platform’s expansion in the United Arab Emirates (UAE). Conflux is reportedly partnering with NewTribe Capital for its digital and virtual asset initiatives in the UAE.
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!! 🚨
When it comes to making money in crypto, altcoins are the way to go.
They have the most volatility, which means that they have the potential to offer the most returns.
The first step to getting these gains is to accumulate the right altcoins at the right time. It’s believed that this is difficult to do, and it is, but it’s easier when you understand a few key factors.
Today’s video is all about how to accumulate altcoins in preparation for the next crypto bull run. Spoiler alert: the time for accumulation is coming soon. By the end of the video, you’ll be prepared.
Enjoy!
🚨 New Video Alert!! 🚨
If you want to know what’s going on in the crypto market, you need to watch the whales.
Where can you find the whales you ask? Well, Bitfinex seems to be a popular destination, and the exchange recently put out a crypto market report.
As you can imagine, the report was packed with alpha, and it also made a few predictions that came true (kind of). More importantly, the report revealed what the expert whale watchers are watching, and how to make sense of what they’re seeing.
The fact that Bitfinex is Tether’s sister company is really the cherry on top. It adds lots of context to what was said in the report, and that alone says a lot.
Granted that there’s lots of speculation in this context, but that’s what crypto is all about, isn’t it?
Enjoy!
📣📣 MARKET MOVING NEWS! (17/10/23)
1️⃣ Cointelegraph Issues Clarification on False Spot BTC ETF Approval Report 😕
Crypto media organisation Cointelegraph has issued a public apology for its recent erroneous reporting of a Spot Bitcoin ETF approval.
The post reads,
“Earlier today, during routine coverage, Cointelegraph’s social media team posted a message on X without prior editorial approval stating that the United States Securities and Exchange Commission had approved BlackRock’s iShares spot Bitcoin exchange-traded fund, or ETF. This was false, the result of misinformation. The news lead originated from an unconfirmed screenshot posted by an X user who claimed it was from the Bloomberg Terminal. Cointelegraph did not ultimately publish an article with this incorrect information, but we deeply regret posting this in error on X and the impact it has caused. An internal investigation revealed that our standard procedure for posting breaking news on social media, wherein sources are required to be verified before posting to social media, was not followed.”
However, public sentiment for the organisation seems to have remained sour after a video clip showed Cointelegraph Editor-in-Chief Kristina Lucrezia attempting to deflect blame on “society” for the mistake. Notably, the false report resulted in nearly $100 million worth of short position liquidations.
Source
2️⃣ Ethereum DeFi Exchange Uniswap Adds Fees, Sparks Controversy 🕵️♂️
Hayden Adams, the CEO of Uniswap Labs, has announced that DeFi protocol Uniswap will introduce a 0.15% swap fee for select tokens starting October 17. The list of tokens affected by the new fee includes ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD. Notably, the new fee only applies when these tokens are traded through Uniswap Labs’ front-end interfaces and is separate from the Uniswap Protocol fee switch that is subject to UNI token governance. Adams stated that this move aims to promote sustainability and transparency while exempting certain token pairs from fees.
However, the announcement seems to have triggered a backlash from the community. Notably, Delphi Labs general counsel Gabriel Shapiro has criticised the move stating that it misaligns incentives between UNI token holders and share-holders of Uniswap Labs.
Source
3️⃣ Manta Pacific To Migrate from Optimism to Polygon Tech as a zkEVM Layer 2 🔎
Manta Pacific, a Layer 2 blockchain for zero-knowledge-enabled apps within the modular Manta Network, is reportedly planning to migrate its software from Optimism’s OP Stack by Caldera to Polygon’s Chain Development Kit.
Manta Network co-founder Victor Ji stated,
"The transition to zkEVM is a necessity for Manta Pacific to continue providing the best-in-class experience for developers and users. Polygon's CDK enables us to transition quickly and smoothly using a proven, robust system for deploying zkEVMs."
Source
4️⃣ Genesis Ordered to Comply with Terra Subpoena Within 5 Days ⚖️
A New York district judge has reportedly ordered crypto lender Genesis to comply with a subpoena which ordered the firm to share certain documents in a case involving the dramatic collapse of algorithmic stablecoin TerraUSD. Notably, the court has given Genesis five days to respond after the firm failed to respond to a previous subpoena that had an Oct. 9 deadline
The order stated,
"The Court grants the Defendants' motion to enforce the Subpoenas and orders the Genesis Entities to produce, within five (5) days of this Order being served on the Genesis Entities, all documents that are responsive to the Subpoenas."
Source
5️⃣ Binance Halts Onboarding Of New UK Users ❌
Crypto exchange Binance has reportedly stopped accepting new users in the United Kingdom. The exchange stated that the move came after the country’s Financial Conduct Authority (FCA) imposed legally binding requirements that prohibited its partner Rebuildingsociety.com Ltd (REBS) from running ad promotions soliciting Binance goods and services.
The exchange stated,
“As I explained in all my posts for the past year: It starts with ‘kyc option’ for LPs. And then eventually it moves into a ‘regulator whitelist approved’ database hosted offchain. And then non-kyc gets labeled as illegal terrorist money laundering. Stop simping for soyboys.”
Source
🚨 New Video Alert!! 🚨
Time for another weekly crypto review!
Last week was an interesting one for both macro and crypto, but it seems that only the crypto part mattered to the markets.
Obviously, there are lots of crypto factors at play at the moment, and one that’s coming to the fore is Coinbase’s increasing dominance in the crypto industry. This could be both good and bad.
There is one macro factor that could still shake the crypto markets though, and that’s what’s been going on in China. The rise in capital flight could increase the risk of anti-crypto retaliation.
This is one you can’t miss!
https://www.youtube.com/watch?v=Hk-aakT17_A
Читать полностью…
📣📣 MARKET MOVING NEWS! (29/10/23)
1️⃣ SBF Paints Alternative View of His Knowledge of The Fiat@ Account in Court ⚖️
In his recent testimony before the court, FTX founder Sam Bankman-Fried claimed that he was never fully aware of the $8B loan given by FTX to Alameda Research. Specifically, SBF stated that he was only made wholly aware of the debt in October 2022, when most of the spending had already occurred. He stated this was due to the Alameda Research loans being tracked in a separate database ledger entry known as "fiat@" instead of the “info@” account which was the main account Alameda Research used for trading on FTX.
SBF stated,
"So at the time, I wasn't entirely sure what was happening. What I believed was that either the funds were just being held in a bank account and...not used or removed, or that they were being sent to FTX in one way or another, maybe as stablecoin[s] [….] [If Alameda was borrowing the funds] that would be reflected as a borrow on Alameda's info@ account.”
Source
2️⃣ Spot Crypto Trading Volumes Surge to Levels Not Seen Since March 📈
According to The Block's data dashboard, the seven-day moving average for spot exchange trading volumes across the top crypto exchanges has crossed the $24 billion mark on October 26. Notably, the last time we saw this level was at the end of March this year. The data also reportedly indicated that market volatility has risen back to levels seen before April this year. This is reportedly triggered by traders processing headlines about the potential launch of a spot Bitcoin exchange-traded fund.
Source
3️⃣ Binance's Market Share Continues To Decline Amid Rally 📉
According to data from The Block's data dashboard, crypto exchange Binance’s market share among exchanges that do not support USD has decreased from 74% in December 2022 to 50% this month. The report states that this is due to the brewing uncertainty and fall in confidence about the future of the exchange. Specifically, at least 16 executive exits have been documented as the exchange grapples with regulatory actions from both the Commodities Futures Trading Commission and the US Securities and Exchange Commission.
Source
4️⃣ Ripple CEO Criticises Former SEC Chair Jay Clayton’s Comments 🥶
In a recent X post, Ripple CEO Brad Garlinghouse strongly criticised a few remarks made by former U.S. Securities and Exchange Commission (SEC) Chair Jay Clayton regarding the agency’s regulatory approach under current Chair Gary Gensler. Specifically, during an interview with CNBC on June 29, 2023, Clayton expressed his view that the SEC should pursue legal action against specific companies only when they have strong legal grounds. Garlinghouse responded to these remarks stating that Clayton’s “hypocrisy is shocking.” He tweeted that he wanted to remind Clayton that he was the one who filed a lawsuit (which had a low chance of success) against Ripple, Garlinghouse and Ripple co-founder Christian Larsen in December 2020.
Source
🚨Rally Report🚨
RENDER
The price of RNDR has rallied by 7% in the past 24 hours.
WHY?!
🎉 The rally follows the passing of ‘RNP-005: Beam Compute Client’ proposal. An overwhelming majority (99.17%) of the community voted in favour of the proposal. It has now moved onto the "Render Network Team Review" stage, which will test to see the technical feasibility of implementing the proposal.
🚀 Notably, investors are bullish as the proposal seeks to support the onboarding of cloud platform Beam, whose integration will enable Render’s decentralized GPU network to power machine learning (ML) workloads.
If you want to buy or trade RNDR, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
“We urge the Department of Justice to carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism through violations of applicable sanctions laws and the Bank Secrecy Act. To that end, we strongly support swift action by the Department of Justice against Binance and Tether to choke off sources of funding to the terrorists currently targeting Israel.”
Source
🚨Rally Report🚨
FLOKI INU
The price of FLOKI has rallied by 27% in the past 24 hours.
WHY?!
📈 Investors seem to be bullish over the project’s upcoming launch of a ‘unique staking program’ which will allow FLOKI holders to earn the majority of the project’s new sister token ‘TOKEN’.
🚀 Notably, ‘TOKEN’ is tied to an upcoming platform ‘TokenFi’- a tokenization platform dedicated to the rising real-world asset (RWA) segment. The platform will reportedly allow users to launch any cryptocurrency without writing code, raise funds from the Floki community, connect with exchanges and market makers for liquidity, and float tokens tied to real-world assets that are not deemed securities.
If you want to buy or trade FLOKI, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
🚨 New Video Alert!! 🚨
Central banks around the world have been working on CBDCs for years.
The ECB is one of the furthest along in this regard, and it recently announced that its digital Euro was entering the ‘preparation’ phase.
If you’ve heard anything at all about the digital Euro, then you’ll know that it’s particularly dystopian. Limits on holdings. Limits on transactions. Zero privacy. Possibly even mandatory chips in phones!
Given that we’ve been keeping a close eye on the digital Euro over a year now, we figured we’d bring you up to speed about what’s been going on with it. It’s safe to say that it’s very terrifying.
Enjoy!
🚨Rally Report🚨
PEPE
The price of PEPE has rallied by 15% in the past 24 hours.
WHY?!
📈 PEPE’s rally is a part of a larger rally seen among meme coins as investors appear to be dipping back into riskier bets as a wave of bullishness has engulfed the larger crypto community.
🚀 Notably, the official PEPE X (formerly Twitter) account also seems to have recently gotten active after it announced that a new team of advisors have been brought on to guide Pepe forward. The new team reportedly burned over $6.9T PEPE tokens to celebrate the revival of the project after it underwent a period of silence due to a scandal last month when old team members withdrew massive amounts of PEPE due to an internal fallout.
If you want to buy or trade PEPE, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
🚨 New Video Alert!! 🚨
There are a lot of crypto conspiracy theories out there, but perhaps the craziest ones most recently is the idea that Bitcoin was created by the NSA.
That's right, in 1996, a researcher at the NSA created a paper called "How to Make a Mint: The Cryptography of Anonymous Electronic Cash".
Sounds awfully familiar doesn't it?
So, could the US government actually have been behind our beloved digital Gold? And could Satoshi be somewhere waiting in the wings ready to unlock his coins on the orders of the powers that be?
Well, if you want to find out then this is a vid you just can't miss.
📣📣 MARKET MOVING NEWS! (25/10/23)
1️⃣ Bitcoin Ally Tom Emmer Drops Out of Race for House Speaker After Trump Attack 😕
Tom Emmer, a crypto ally and the current majority whip, has reportedly dropped his bid to become the next United States House of Representatives speaker after he was unable to secure the 217 Republican votes necessary to win on the House floor. Notably, the lack of support arose after Emmer was specifically targeted by former President Donald Trump, who posted that voting for him would be a "tragic mistake."
Source
2️⃣ SEC Fines BlackRock $2.5 Million as Bitcoin ETF Review Awaits ⚖️
BlackRock, the world's biggest fund manager, has reportedly agreed to settle with the U.S. Securities and Exchange Commission after the regulator charged BlackRock for "failing to accurately describe investments in the entertainment industry." Specifically, the Wall Street giant agreed to pay a $2.5 million fine., without agreeing to or denying the SEC’s charges. Notably, the charges come at a time when the world is waiting for the results of the SEC's review of BlackRock's application for a Bitcoin exchange-traded fund (ETF).
Source
3️⃣ Crypto Wallet Maker Ledger Officially Rolls Out 'Recover,' Unleashing Fresh Round of Snark 🔎
Hardware wallet maker Ledger’s "Recover" service - which provides a backup for users' recovery seed phrase – is now live on the company’s Nano X wallet. Notably, the service was heavily criticised when it was first discussed publicly several months ago. CEO Pascal Gauthier’s latest announcement seems to have once again triggered a fresh wave of criticism with most people stating that the product undermines Ledger's stated commitment to privacy and security.
Source
4️⃣ Paradigm Co-Founder Ehrsam Steps Down as Managing Partner 🧐
Fred Ehrsam, the co-founder of crypto-focused VC firm Paradigm, has announced that he is stepping down as managing partner of the venture capital firm while reportedly staying on as a general partner.
Ehrsam tweeted,
“I’ll continue to work with our investing and research teams, work with portfolio companies, and fight for good crypto policy while focusing less on the day-to-day management of the firm. […] This change allows me to carve out some time to explore areas of science that are of personal passion for me. There's been a long pre-history of crypto interest in the frontiers of bio, from Hal Finney and cryogenics to Vitalik Buterin and Brian Armstrong's more recent support of longevity research. I have personally been investing in and supporting bio research for several years and am excited to ramp up these efforts.”
Source
5️⃣ Euroclear Launches Digital Securities Issuance Service, Settles World Bank Bond 🏦
Euroclear, a major European clearinghouse, has reportedly marked the launch of a tokenised securities issuance service by settling the World Bank's 100 million euros ($106 million) digital bond. The digital bond is listed on the Luxembourg Stock Exchange and will be used by the World Bank Group's International Bank for Reconstruction and Development (IBRD) for financing sustainable development activities. The bond was issued on R3’s Corda blockchain. In terms of infrastructure, Euroclear’s tokenised securities issuance service is connected to its traditional platform for secondary operations and is compliant with the European Union’s Central Securities Depositories Regulation.
Source
6️⃣ BlockFi Emerges from Bankruptcy and Opens Wallet Withdrawals ❗️
According to a recent blog post, crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors. The post announced that withdrawals “are currently available to nearly all Wallet customers,” adding that BlockFi Interest Account (BIA) and Loan customers will be able to withdraw some assets in early 2024.
The post reads,
https://www.youtube.com/watch?v=IUmz-sUbnMw
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https://www.youtube.com/watch?v=5wxwdJpeB7Y
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“Binance is currently looking for a new FCA-authorised approver. However, there will be some temporary restrictions coming into effect on our Platform (i.e. www.binance.com/en-GB and latest version of our Mobile App) during the period until Binance onboards with a new FCA authorised approver and has its financial promotions reapproved.”
Source
6️⃣ Israel Freezes 100 Binance Accounts In Bid To Block Funding For Hamas 🥶
According to a Financial Times report, the Israel government has requested crypto exchange Binance to freeze more than 100 accounts in an effort to curtail the Palestinian militant group Hamas' funding. The authorities have also reportedly requested information on an additional 200 crypto accounts, most of which are held on Binance.
Source
🚨Rally Report🚨
BITCOIN SV
The price of BSV has rallied by 8% in the past 24 hours.
WHY?!
🔎 The rally seems to come after a recent false report by Cointelegraph suggested that the SEC had approved Blackrock’s iShares Bitcoin Trust.
📈 While Bitcoin rallied to almost $30,000 and then retreated shortly afterwards, BSV seems to have rallied, then dipped and again rallied following the report.
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📣📣 MARKET MOVING NEWS! (25/09/23)
1️⃣ Arbitrum Treasury Richer by $59M as Users Miss Claims Deadline 🧐
The Arbitrum Foundation has reportedly transferred 69 million unclaimed ARB tokens (worth $59 million) to the network’s treasury after the claim period for the tokens ended over the weekend. Notably, the unclaimed tokens represent 0.69% of ARB’s total supply of 10 billion. The move comes as a result of a near-unanimous community vote to redirect the unclaimed tokens to the treasury immediately instead of a time-locked smart contract. Data from a Dune Analytics dashboard shows that 93% of eligible users had claimed the tokens.
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2️⃣ Mixin Network Founder Says Just Half of Users' Assets Are Safe After $200 Million Hack 🥶
Yesterday, decentralised peer-to-peer network Mixin Network lost nearly $200 million in a hack involving the compromise of the database of a third-party cloud service provider. Following the hack, Mixin Network announced a suspension of all deposit and withdrawal services. Notably, founder Feng Xiaodong has announced that the company can initially only ensure that half of the total user assets on the network are not affected by the hack. He added that the company was considering issuing “bond tokens” to users for the rest of the assets. These tokens will reportedly be redeemable for assets that Mixin plans to buy back in the future.
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3️⃣ Hong Kong Financial Watchdog to Bring JPEX 'Wrong-Doers to Justice' 👮♂️
Following the recent JPEX scandal, Hong Kong’s Securities and Futures Commission (SFC) has unveiled a series of new measures aimed at enhancing transparency and security in the crypto industry. Notably, the SFC said it would publish a list of all licensed, deemed licensed, closing down, and application-pending virtual asset trading platforms (VATPs) to better help members of the public identify potentially unregulated VATPs doing business in Hong Kong.
The SFC stated,
“The JPEX incident highlights the risks of dealing with unregulated virtual asset trading platforms (VATPs) and the need for proper regulation to maintain market confidence. It also shows that dissemination of information to the investing public through the Alert List, warnings and investor education can be further enhanced to help members of the investing public better understand the potential risks entailed by suspicious websites or VATPs.”
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4️⃣ Crypto Exchange Upbit Stems Fake APT Token Flood, Resumes Services ❗️
South Korean crypto exchange Upbit has reportedly resumed deposit and withdrawal services for the APT token after it temporarily paused them due to a technical error that saw a scam APT token incorrectly being recognised as the real deal. The issue has since been fixed. However, Upbit warned users that there could be delays in processing deposits and withdrawals and possible temporary price fluctuations in the APT tokens as compared to other exchanges.
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