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https://www.youtube.com/watch?v=Ebn1TgCf5Dw
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We assume that within the next ten years, a significant proportion of capital market business will be processed via distributed ledger technology (DLT)-based infrastructures. In the medium term, we see DLT as a complementary technology to the established infrastructures in the existing capital market processes.
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🚨Rally Report🚨
XRP
The price of XRP has rallied by 10% in the past 24 hours.
WHY?!
🎉 The rally seems to be driven by a rise in positive sentiments towards the project. Notably, attorney Jeremy Hogan recently made some bullish statements about Ripple's court case with the SEC. He stated that Ripple could make the case for any potential 'disgorgements' to be based on ‘net profits’ instead of gross profits.
🚀 Additionally, Ripple, the company behind the XRP token, announced that it was joining forces with the National Bank of Georgia to delve deeper into the potential use cases for a central bank digital currency (CBDC) in the country.
If you want to buy or trade XRP, 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 is no doubt that non-custodial trading is the future of crypto. However, until there are ways in which we can effectively get our fiat funds to and from crypto without relying on TradFi, we are going to need exchanges.
Right now, there are a plethora of exchanges that are out there vying for your business. So many in fact, that you can afford to be picky. Whatever exchange you do use, you have to make sure that it meets a number of criteria.
For example, it has to:
- Be extremely secure
- Have extensive coin support
- Trading functionality
- Competitive Fees
- Effective fiat funding options
- etc
When it comes to Doing Your Own Research (DYOR), making sure that you are using the right exchange is perhaps just as important as deciding what coins to buy.
No matter how diligently you pick your portfolio, it counts for nothing if the exchange you are using turns out to be the next FTX.
To help you with this, we have decided to do a video for you on the best exchanges for next year. We analyse all the above factors to make sure that you find the exchange that is best suited to you. We also contrast and compare them by providing their respective pros / cons.
There are also several exclusive deals and discounts that we have on offer for you at these exchanges.
Get those notepads ready!
🚨Rally Report🚨
MULTIVERSX
The price of EGLD has rallied by 39% in the past 24 hours.
WHY?!
🔎 The pump seems to be driven by retail speculative trading activity on the South Korean exchange Upbit.
📈 Notably, Upbit accounts for more than 60% of the global trading volume for EGLD in the past 24 hours.
If you want to buy or trade EGLD, 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/
🚨Rally Report🚨
LIDO DAO
The price of LDO has rallied by 15% in the past 24 hours.
WHY?!
🎉 Lido Finance announced that it had approved the integration of Obol Network’s Simple Distributed Validator Technology.
🚀 This is expected to enhance diversification and security in node operations by promoting robust decentralisation in the Lido Node Operator set.
If you want to buy or trade LDO, 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/
🚨Rally Report🚨
TRUST WALLET
The price of TWT has rallied by 9% in the past 24 hours.
WHY?!
🎉 The rally seems to have been triggered by a recent announcement made by crypto exchange Binance.
🚀 Specifically, Binance announced that it was listing TWT on Binance futures, a move that the community had been expecting for a long time. Following the announcement, the token’s price traded at a level not seen since April 2023.
If you want to buy or trade TWT, 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!! 🚨
World war three. It’s something that people have been talking a lot about these days, but nobody seems to know just how much it could affect them or even what it really means.
Believe it or not, but we could be in the middle of a world war already. The thing is that the world war we’re likely to see (or could already be in) is different than the ones we’ve had before.
The good news is that it’s unlikely to lead to the same loss of life we’ve seen in the past. The bad news is that it could still result in significant social and economic disruption.
This is a video you need to watch until the end.
📣📣 MARKET MOVING NEWS! (02/11/23)
1️⃣ Top Swiss Bank Launches Bitcoin And Ether Trading With SEBA 🏦
St.Galler Kantonalbank (SGKB), the fifth largest cantonal bank in Switzerland, has reportedly launched digital asset custody and brokerage services for its clients, in partnership with SEBA Bank.
Falk Kohlmann, the head of market services at SGKB, stated
“We are pleased to offer a select client base access to digital assets and the digital economy. Thanks to our cooperation with SEBA Bank, we’ve implemented a straightforward initial setup, which allows us to learn and grow well aligned to our clients’ needs. We are confident that our clients' digital assets are protected by the custody of a professional and certified provider with extensive experience in this field."
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2️⃣ SafeMoon Founders Arrested as DOJ Unseals Indictment, SEC Files Charges 👮♂️
The U.S. Department of Justice (DOJ) has reportedly arrested and charged SafeMoon's executive team with perpetrating massive fraud on its investors in a case also targeted by the U.S. Securities and Exchange Commission (SEC). Specifically, the SEC alleges the SafeMoon executives withdrew assets worth $200 million from the project and misappropriated investor funds.
According to an unsealed indictment, all three of SafeMoon’s executives - Braden John Karony, Kyle Nagy, and Thomas Smith, were charged with ‘conspiracy to commit securities fraud’, ‘conspiracy to commit wire fraud’ and ‘money laundering’. While John Karony and Thomas Smith were arrested, creator Kyle Nagy remains at large.
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3️⃣ Worldcoin Claims 4M App Downloads And 1M Active Users 👁
According to a Nov. 1 blog post from Worldcoin's lead developer ‘Tools for Humanity’ (TFH), the project’s crypto wallet ‘World App’ has now been downloaded over 4 million times. The report also states that World App has over 1M monthly active users, 500K weekly active users and over 100K daily active users. Notably, if verified, this could place World App at sixth place in CoinGecko’s list of most downloaded software wallets.
Tiago Sada, the head of product at TFH, stated,
"It's inspiring to see so much excitement around the world in less than six months since launching World App. The team has been heads down working on meeting the current demand, and as the need for digital identity and digital finance continues to become more pressing, we know this is just the beginning."
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4️⃣ Attacker Drains $2.1 Million from Onyx in Latest DeFi Exploit ❌
DeFi P2P lending platform Onyx Protocol has reportedly lost over $2.1M in crypto assets after suffering a security exploit yesterday. According to analysts at the security firm BlockSec, the attacker executed the exploit by targeting a specific vulnerability in Onyx’s codebase, known as “precision loss.” Notably, this vulnerability originates from an older forked version of Compound V2, which Onyx had incorporated into its underlying architecture.
Matthew Jiang, director of security services at BlockSec explained,
“The attacker took out a flash loan of a substantial amount of ETH, swapped it for PEPE, and donated it to a specific pool to manipulate the exchange rate. Subsequently, due to the so-called precision loss, the attacker was able to withdraw more of the underlying asset by burning fewer shares.”
Source
5️⃣ PayPal UK Unit Registers as Crypto Service Provider 🇬🇧
Global payments giant PayPal’s U.K. subsidiary has reportedly received approval from the Financial Conduct Authority (FCA) to offer crypto services in the region. Specifically, the regulator’s website shows that PayPal UK Limited has been registered to offer “certain crypto asset activities” in the U.K. since Oct. 31, 2023.
https://www.youtube.com/watch?v=3TFz-R9ed_k
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📣📣 MARKET MOVING NEWS! (01/11/23)
1️⃣ Turkey To Toughen Law On Crypto Assets: Minister ⚖️
Addressing a parliamentary commission late on Tuesday, Turkey’s finance minister Mehmet Şimşek announced that the country was in the “final stage" of bringing crypto legislation to its parliament. The new crypto legislation is reportedly an attempt to get the country removed from the Financial Action Task Force’s “grey list” of countries with insufficient anti-money laundering restrictions.
Noting that a FATF report found Turkey fully compliant with all but one of the watchdog's 40 standards, Şimşek stated,
"The only remaining issue within the scope of technical compliance is the work related to crypto assets. We will submit a law proposal on crypto-assets to the parliament as soon as possible. After that, there will be no reason for Turkey to stay on that grey list, if there are no other political considerations."
Source
2️⃣ WalletConnect Restricts Use in Russia, Citing OFAC Guidelines 🥶
WalletConnect, a web3 startup that helps users connect Web3 Wallets with dapps, has reportedly restricted the use of its product in Russia due to sanctions guidelines set forth by the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
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3️⃣ Circle Will No Longer Support Stablecoin Minting For Consumer Accounts ❌
USDC issuer Circle Internet Financial is reportedly discontinuing support for consumer Circle Mint accounts on November 30th. It also stated that the move would not affect business or institutional Circle Mint accounts.
Shortly after the announcement, Circle CEO Jeremy Allaire tweeted,
"Lots of noise about Circle limiting individuals from using Circle Mint. There is nothing new here. We haven't allowed individuals to open Circle accounts in years, and have been institution only for years as well. We have tremendous retail partners all around the world, including our strategic partner Coinbase who offers excellent retail access to USDC without fees and always 1:1. The only change is that for a few thousand individual user accounts that were still open with us, we are no longer going to support those accounts. Please ignore the FUD, conspiracy theories, etc."
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4️⃣ Gary Gensler Wishes Bitcoin a Happy Birthday on Halloween, Asks Crypto Firms to Stop 'Tricking' Investors 🤡
In an X tweet posted on Halloween, U.S. Securities and Exchange Commission Chair Gary Gensler wished Bitcoin a happy birthday and used a Halloween-themed joke to poke fun at the crypto sector.
Gensler’s tweet reads,
“If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell? Happy 15th anniversary to Satoshi’s famous white paper that started crypto. Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.”
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5️⃣ BlackRock's Bitcoin ETF Might Have Trading Support of Heavyweights Like Jane Street, Jump and Virtu: CoinDesk ❗️
According to a CoinDesk report, a source who has reviewed a BlackRock slide deck stated that big trading firms such as Jane Street, Virtu Financial, Jump Trading and Hudson River Trading are in talks to become market-makers for BlackRock's proposed spot bitcoin ETF if it obtains regulatory approval. However, all five parties have reportedly declined to comment on the report.
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6️⃣ Oyster Protocol Founder Gets 4 Years Jail For $5.5M Tax Evasion 👮♂️
Amir Bruno Elmaani (aka ‘Bruno Brock’), the 31-year-old founder of the now-defunct cryptocurrency scheme Oyster Protocol, has reportedly been handed a four-year jail term for tax evasion. Notably, Elmaani was handed the sentence following a guilty plea in which he admitted to secretly minting and selling Pearl tokens while not paying income tax on profits from the project. In addition to his four-year prison sentence, Elmaani has been sentenced to one year of supervised release and ordered to pay restitution of $5.5 million.
Source
https://www.youtube.com/watch?v=LVXI4R6pJRk
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“MAS’ partnership with the FSA, the FCA and FINMA shows a strong desire among policymakers to deepen our understanding of the opportunities and risks arising from digital asset innovation. Through this partnership, we hope to promote the development of common standards and regulatory frameworks that can better support cross-border interoperability, as well as sustainable growth of the digital asset ecosystem.”
Source
6️⃣ 'Your Keys and Wallets Are Safe', Says Telegram Bot Unibot Amid $640k Exploit ❗️
Earlier today, the team behind the popular telegram trading bot ‘Unibot’ confirmed that the platform suffered a “token approval exploit” on its new router. While the team has stated that it will compensate users for any funds lost due to the exploit, the attacker has reportedly moved around $630,0000 worth of crypto assets through the crypto mixing protocol ‘Tornado Cash’. However, Unibot also clarified that user’s keys and wallets on the platform are safe.
Source
🚨Rally Report🚨
THORCHAIN
The price of RUNE has rallied by 16% in the past 24 hours.
WHY?!
🎉 RUNE’s rally seems to be triggered by the increased adoption of its streaming swaps feature and the long list of recent partnerships.
🚀 According to data from Santiment, THORChain’s development activity has also risen by 27% in the past 24 hours.
If you want to buy or trade RUNE, 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!! 🚨
This week’s crypto review is especially special. That’s simply because last week was a wild ride for the crypto market, at least for BTC. The rest of the crypto market told a different story.
Meanwhile, the amount of bearish crypto factors keeps piling up, and the list of bearish macro factors gets longer. This seems to be the reason why the world’s biggest banker is taking chips off the table.
Despite all of this conflicting information however, multiple cryptos managed to experience epic pumps.
Be sure to stick around until the end to know where they’re headed next!
🚨 New Video Alert!! 🚨
Another Monday, another weekly crypto review!
For once the spotlight wasn’t on BTC, it was on all the altcoins that saw mind melting rallies. There were many, and it looks like it’s finally ETH’s turn.
Behind the scenes there have also been some interesting developments around stablecoins. USDT’s market cap hit an all-time high, and the SEC continues to cause problems for US stablecoins.
At the same time, the stock market is finally starting to catch up to crypto, and we’re seeing some interesting dynamics in interest rates. It looks like the Fed could start cutting. That may not be good.
Watch until the end to find out why!
📣📣 MARKET MOVING NEWS! (06/11/23)
1️⃣ Roger Ver Seeks Winding Up of Matrixport in Seychelles Lawsuit ⚖️
Crypto entrepreneur Roger Ver had reportedly sued Smart Vega Holding Limited - a Seychelles-based subsidiary of billionaire Jihan Wu’s Matrixport in August 2022 for $8 million after he was unable to withdraw the same amount from the company’s derivatives-focused subsidiary, bit.com. According to Ver, his request to withdraw $8 million from bit.com in June 2022 was blocked by Wu because he held Ver responsible for his personal losses at CoinFLEX — another bankrupt crypto business which had accused Ver of failing to meet a margin call.
In an affidavit filed to the Supreme Court of the Seychelles, Ver wrote,
The reason my Funds were unavailable for withdrawal was because Wu had instructed Respondent not to release them to me. Wu had done so because he believed I owed sums to a third party who owed sums to him. His belief was both false and irrelevant. Wu is improperly co-mingling his personal interests with that of the defendant.
Source
2️⃣ NFTs Get the Simpsons Treatment in Latest Episode ✨
The latest Halloween special episode of the iconic animated series ‘The Simpsons’ titled “Treehouse of Horror XXXIV” reportedly made numerous references to the overvaluation of on-chain NFTs in the first chapter of the episode titled “Wild Barts Can’t Be Token.”
Notably, the episode features Bart being accidentally “digitised” into an NFT with Marge embarking on an adventure in a blockchain-powered realm to save him. The writers for the episode seem to have done their research as the special episode featured references to many iconic NFTs and artists, including the Bored Ape Yacht Club, Beeple, Ringers, Pak, Nyan Cat and NBA Topshots among many more.
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3️⃣ Hong Kong Mulls Allowing Spot Crypto ETFs in Pursuit of Asia Hub 🇭🇰
Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), is reportedly considering allowing retail investors to buy spot crypto Exchange Traded Funds (ETFs). Notably, the potential development is part of the region’s efforts to create an Asia-Pacific digital asset hub while tackling the fallout of the JPEX scandal.
SFC Chief Executive Officer Julia Leung stated,
We welcome proposals using innovative technology that boosts efficiency and customer experience. We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.
Source
4️⃣ FTX Wants to Sell $744M Worth of Grayscale, Bitwise Assets 💰
According to recent court filings, bankrupt crypto exchange FTX has requested the U.S. bankruptcy court of Delaware to approve the sale of some key trust fund assets, including funds from crypto asset manager Grayscale Investments and custody service provider Bitwise, valued at around $744 million.
The filing states,
The Debtors’ proposed sale(s) or transfer(s) of the Trust Assets will help allow the estates to prepare for forthcoming dollarized distributions to creditors and allow the Debtors to act quickly to sell the Trust Assets at the opportune time. Additionally, because the Debtors may sell the Trust Assets to one or more buyers in one or more sales, sales pursuant to the Sale Procedures will alleviate the cost and delay of filing a separate motion for each proposed sale.
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5️⃣ DZ Bank, Third-Largest German Bank, To Start Crypto Custody for Institutional Investors 🏦
DZ Bank, Germany’s third largest bank by asset size, has reportedly launched its own digital assets custody platform for institutional clients, offering them crypto securities, such as the crypto bond from Siemens, which DZ Bank subscribed to six months ago. DZ Bank also stated that it plans to offer services for direct investment in cryptocurrencies for private customers.
Expressing the bank’s interest in distributed ledger technology, its head of securities services and digital custody Holger Meffert stated,
https://www.youtube.com/watch?v=p0Gv8DnW2LI
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📣📣 MARKET MOVING NEWS! (05/11/23)
1️⃣ Fake Ledger Live App Sneaks Into Microsoft’s App Store, $588K Stolen ❗️
According to on-chain analyst ZachXBT, approximately $588K worth of BTC has been stolen from users who downloaded a fake Ledger Live application on Microsoft’s app store. The fake app is named “Ledger Live Web3” and approximately 16.8 BTC has been drained from the users who downloaded the app. The scammer’s wallet seems to have already moved $115,200 in BTC across two transactions, leaving it with $473,800 or 13.5 BTC. Following ZachXBT’s post, it appears that Microsoft may have removed the fake Ledger Live app from its platform.
Source
2️⃣ Aave Pauses V2 On Ethereum, Freezes Certain Assets on V3 Due to Reported Issue 📉
DeFi lending protocol Aave has reportedly paused some operations as a temporary protection measure following reports of an issue affecting “a certain feature.” Notably, the pause seems to have affected multiple networks, including Aave v2 Ethereum Market, and has frozen certain assets on Aave v2 on Avalanche, Aave v3 on Polygon, Arbitrum and Optimism.
The announcement reads,
“Today we received a report of an issue on a certain feature of the Aave Protocol. After validation by community developers, the guardian has taken the following temporary prevention measure (no funds are at risk) […] A governance proposal to restore the normal operation of the protocols will be submitted shortly. Detailed postmortem will be released once the issue is fully resolved.”
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3️⃣ Bored Ape Creator Yuga Labs and Magic Eden Launching Ethereum NFT Marketplace That Enforces Royalties 🚀
Solana-based NFT marketplace Magic Eden is reportedly partnering with BAYC creator Yuga Labs to launch a new marketplace for Ethereum NFTs that honours creator royalties. Notably, Yuga Labs called the endeavour "the first major ETH marketplace contractually obligated to honour creator royalties." Magic Eden has stated that the marketplace will launch "by the end of the year."
Yuga Labs CEO Daniel Alegre stated,
“Obviously, the genesis of this was what we saw happening in the overall ecosystem with secondary royalties. The gauntlet that unfortunately OpenSea dropped made it very clear to us that we, as a company at the forefront of the NFT space, had to stand up for content creators.”
Source
4️⃣ Mango Markets Exploiter Avraham Eisenberg Moved To SBF's Prison, Trial Delayed ⚖️
Lawyers representing Avraham Eisenberg, the alleged $116 million Mango Markets exploiter, have reportedly convinced the judge overseeing the case to postpone the fraud trial originally scheduled for Dec. 4 of this year, to April 8 next year. Notably, Eisenberg's lawyers stated that they needed more time to prepare due to their client being "unexpectedly transferred" from his prison in New Jersey to the Metropolitan Detention Center (MDC) in Brooklyn — the same prison where Sam Bankman-Fried has been held since August.
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5️⃣ Bitfinex Users Fall For ‘Minor’ Phishing Attack After Employee Gets Hacked 🥶
Crypto exchange Bitfinex has reportedly suffered a “minor” information security incident resulting in hackers being able to access "partial, incomplete and stale information.” Notably, the exchange stated the breach occurred as a result of one of its customer support agents being hacked earlier this week. Due to the breach, Bitfinex users have been receiving a spree of phishing attacks. The exchange also stated that the customer support agent didn’t have “senior permissions” and therefore had limited access to supporting tools and help desk tickets. No customer funds have been lost due to the incident and no server, wallet or database infrastructure was accessed according to Bitfinex.
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📣📣 MARKET MOVING NEWS! (04/11/23)
1️⃣ BitGo and Copper Combine Crypto Custody Settlement Networks 🤝
Crypto custody firms BitGo and Copper are reportedly combining their respective in-custody settlement networks to give their users access to a wider range of trading platforms. Specifically, users of these custodians will now gain access to exchanges such as Bybit, OKX, Powertrade, Bitget, Gate.io, Deribit, BIT, Bitfinex, and Bitstamp.
Matthew Ballensweig, who leads BitGo’s Go Network, stated,
“We asked the question: do we want to win versus traditional finance? Can the crypto guys band together to create a true institutional-grade product that has real market scale, as opposed to waiting for Goldman or Fidelity to build out the custody and connectivity infrastructure for the next wave of capital waiting to come into this space.”
Source
2️⃣ Voyager Token Surges After Nearly One-Third of Supply Is Burned 🔥
Bankrupt crypto lender Voyager’s VGX token reportedly surged by almost 18% on Friday after about a third of the token’s supply was burned. The Block Research also noted that changes have been made to Voyager’s multisig ownership in order to enable new VGX token minting.
According to Miguel Morel, the CEO of Arkham Intelligence, the burn seems to be intentional. Morel stated,
"They sent the test transaction to the dead address first. Then two minutes after it confirmed sent the rest. For the other address they sent themselves ETH for gas first and then sent to the dead address 8 minutes after. So it appears purposeful. It’s currently unclear what the motivation would be.”
Source
3️⃣ OpenSea Lays Off 50% Of Staff With Severance In Preparation For Version 2.0 Launch 🪓
NFT marketplace giant OpenSea is reportedly laying off around 50% of its employees. According to a recent X post by Devin Finzer, the co-founder and CEO of OpenSea, the move seems to be in preparation for the launch of ‘OpenSea 2.0’, which is reportedly a “more nimble — and ultimately better — version of OpenSea.” According to a spokesperson for OpenSea, all affected employees would receive four-month severance packages, accelerated equity vesting and six months of continued healthcare and mental healthcare.
Source
4️⃣ Dogecoin Sweepstakes Case Heads to the Supreme Court ⚖️
The U.S. Supreme Court has announced that it will be hearing a lawsuit which has accused crypto exchange Coinbase of misleading users about requirements to enter its 2021 "Trade Doge, Win Doge" promotion. Notably, the Supreme Court hearing follows a federal judge’s denial of Coinbase's motion to force the Dogecoin sweepstakes lawsuit into settlement via arbitration in Dec 2022.
Specifically, the Dogecoin sweepstakes lawsuit, led by plaintiff David Suski, argues that Coinbase violated California’s false advertising and unfair competition laws by deliberately concealing a free mail-in entry option to drive trading volume and liquidity for its new Dogecoin listing.
Source
5️⃣ FTX Bankruptcy Advisers Provided Customer Trading Data to FBI ❗️
According to a Bloomberg report, advisers for bankrupt crypto exchange FTX have been giving federal law enforcement offices across the US information on customer accounts and their transaction history on the failed crypto platform. Specifically, billing records from consultancy Alvarez & Marsal reveal that the data was shared in response to subpoenas from at least five FBI field offices.
Source
📣📣 MARKET MOVING NEWS! (03/11/23)
1️⃣ Sam Bankman-Fried Guilty on All 7 Counts in FTX Fraud Trial ❗️
The verdict is in. The 12-member New York jury for Sam Bankman-Fried’s criminal trial has come to a unanimous decision finding the FTX founder guilty of seven fraud and conspiracy charges on Thursday.
U.S. Attorney Damian Williams stated,
"Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history. This kind of fraud, this kind of corruption is as old as time. We have no patience for it.”
Source
2️⃣ PayPal Faces SEC Action Related to PYUSD Stablecoin 🔎
The Enforcement division of the SEC has reportedly sent payments giant PayPal a subpoena requesting the firm to produce certain documents relating to its PYUSD stablecoin. This information was disclosed by the firm in its recent quarterly filing with the SEC.
The filing reads,
"On November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requests the production of documents. We are cooperating with the SEC in connection with this request."
Source
3️⃣ Aragon Association to Dissolve Itself, Provide Liquidity for ANT Redemption 💰
The Swiss non-profit Aragon Association, the governing body for the aragonOS software, will reportedly dissolve itself and let users redeem its native token ANT for ETH. Specifically, the Aragon Association stated that it will liquidate its 86,343 ETH ($155 million) treasury so that users may redeem each ANT token for 0.0025376 ETH. The deadline for redemption has been set for exactly one year on Nov. 2, 2024. All redeemed ANT tokens will reportedly be burned.
The Aragon Association stated,
"The AA arrived at the best redemption rate it could achieve for all ANT holders by identifying the most compliant and tax-efficient path forward allowing for the continuation and protection of the project. This decision could not be put to a public vote due to legal constraints, specifically regulatory risks triggered by token speculation and market manipulation.”
Source
4️⃣ Argentina Presidential Hopeful Wants to Mine Bitcoin From 'Dead Cow' ⛏
Sergio Massa, the Argentine presidential candidate, has reportedly proposed using excess natural gas from the Vaca Muerta oil fields to mine Bitcoin. Notably, Vaca Muerta, which translates to "dead cow, was named so due to fossilized remains of megafauna being found in the region during the 19th century.
However, it appears that Massa’s proposal has triggered controversy in the country's cryptocurrency community. Specifically, it appears that the crypto community is cautious of the government being involved in the activity. They believe BTC mining is better suited for private entities.
Source
5️⃣ Coinbase Beats Q3 Earnings Estimates While Trading Volume Falls 📈
Crypto exchange Coinbase beats analyst estimates after reporting a third-quarter revenue of $674.1 million, a decline of 4.7% from the previous quarter but an increase of 14.2% from the same period last year. However, the exchange’s reported total Q3 trading volume was just $76 billion, falling short of the estimated $80.1 billion and down from $92 billion in the previous quarter.
Coinbase wrote in a letter to shareholders,
"Q3 was a strong quarter for Coinbase. While we have generated a net loss through Q3, we are on track to deliver meaningful positive Adjusted EBITDA for 2023, reflecting the direction we set at the beginning of the year to be a company that can generate Adjusted EBITDA in all market conditions."
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6️⃣ SEC Seeks Summary Judgment In Do Kwon And Terraform Labs Case ⚖️
The U.S. Securities and Exchange Commission (SEC) has reportedly asked the federal judge in charge of its case against Do Kwon and Terraform Labs for a summary judgment. The SEC stated that it believes a summary judgment is in order since there is "no genuine dispute as to any material fact" in its case against Do Kwon and Terraform Labs.
Source
https://www.youtube.com/watch?v=aLvBZvvXvjE
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Notably, PayPal had temporarily paused crypto purchases in the country since August to comply with the FCA’s marketing guidelines. This appears to still be in place as the website notes that PayPal has restrictions placed on the financial services activities that it can operate. It states that this “includes, but is not limited to, ceasing onboarding new customers and restricting existing customers to hold and sell functionality.” It also states that PayPal cannot expand its “current offering in crypto assets.”
Source
6️⃣ Lazarus Used ‘Kandykorn’ Malware in Attempt To Compromise Exchange: Elastic 🥶
According to an Oct. 31 report from Elastic Security Labs, North Korean hacking collective Lazarus used a new form of malware while attempting to compromise an unnamed crypto exchange in April 2023. Elastic has named the new malware “Kandykorn” and the loader program that loads it into memory “Sugarload.”
The report states that the malware is difficult to detect and can execute numerous malicious functions via a remote server once downloaded by the target. To quote an example, the report states that the program contains a command named “0xD3” which can be used to list the contents of a directory on the victim’s computer, and another command named “resp_file_down” which can be used to transfer any of the victim’s files to the attacker’s computer.
Source
🚨Rally Report🚨
CELESTIA
The price of TIA has rallied by 15% in the past 24 hours.
WHY?!
🎉 Crypto exchange Coinbase announced that it was listing TIA on the platform.
🚀 After trading between the $2.1 to $2.3 range over the past two days, Coinbase’s announcement seems to have given fresh wings to TIA’s price action.
If you want to buy or trade TIA, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
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🚨 New Video Alert!! 🚨
Today we reach the conclusion of SBF's trial - and has it been something special.
It seems quite clear that our friend Sam hasn't been able to talk his way out of this one as the prosecution has masterfully broken down his case.
One of the people that has been present at the trial has been none other than Tiffiny Fong. Indeed, she has been one of the first people to get full access to Sam and has even been able to visit his house on multiple occasions during house arrest.
However, unlike Michael Lewis, her coverage hasn't been to heap praise on him. It's been honest and straightforward.
I was lucky enough to interview Tiffany this weekend and they talked about everything from the trial so far.
This was before Sam's testimony this week - so we added a bit of our analysis around.
🚨Rally Report🚨
XRP
The price of XRP has rallied by 5% in the past 24 hours.
WHY?!
🐳 The rally seems to be triggered by whale activity. Data from Santiment reveals that there are now over 277,000 XRP wallets holding more than 10K XRP tokens.
🔎 Interestingly, the pump coincides with Ripple’s customary unlocking of 1 billion XRP tokens on the first day of each month.
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🚨 New Video Alert!! 🚨
Do you want to be rich?
Depending on your definition, you already are! Getting rich isn’t easy, but it’s doable with the right instructions. Today’s video contains one of many sets of such instructions.
The difference between this video and the other ‘get rich’ guides out there is that it’s actionable, realistic, and based on real world experience. It’s something all of you can achieve if you try.
The trick is to actually follow these steps by setting goals for yourself and creating schedules that facilitate achieving those goals. With some luck, you’ll be wealthier than you think in no time!
This is one you want to watch until the end!
📣📣 MARKET MOVING NEWS! (31/10/23)
1️⃣ Saudi Arabia's NEOM Megaproject Proposes Investing $50 Million In Animoca Brands 🇸🇦
Gaming and metaverse VC firm Animoca Brands has reportedly partnered with Saudi Arabia's NEOM Investment Fund to drive Web3 development in the Saudi capital, Riyadh and the NEOM region. As part of the partnership, the strategic investment arm of NEOM has proposed investing $50 million in Animoca Brands. Specifically, NEOM plans to split the investment by investing $25 million via the issuance of convertible notes and the remaining $25 million via the purchase of Animoca Brands' shares on the secondary market.
NEOM Investment Fund CEO Majid Mufti stated,
"Web3 technology and infrastructure development will not only be an important foundation of NEOM’s tech stack and architecture but also has the potential to revolutionize global industries. By partnering with a market-leading company like Animoca Brands, we hope to accelerate web3 technology development and adoption."
Source
2️⃣ Crypto Asset Funds See Biggest Weekly Inflows Since Last July 📈
According to the latest CoinShares report, digital-asset investment products such as Bitcoin futures ETFs recorded $326 million of net inflows last week - the largest single week of inflows since July 2022. Notably, Solana-related products alone recorded $24 million in inflows. According to CoinShares, the surge in inflows is due to the recent rally in prices that was fuelled by the growing optimism about the SEC potentially approving the first spot bitcoin ETF. However, the report also noted that although last week’s inflows were higher than usual in recent history, the amount ranked as only the 21st largest on record.
Source
3️⃣ Starknet Foundation Showers STRK Tokens on Contributors, Though They're Not Trading Yet 💰
The Starknet Foundation, an entity devoted to supporting the Ethereum layer-2 network Starknet, has announced the launch of the ‘Early Community Member Program.’ The foundation has reportedly allotted 50 million of its yet-to-be-released STRK tokens towards the program which will reward individual contributors who encouraged technical discussion, organized Starknet-related events and regularly published Starknet-branded content. To receive the rewards, individuals and projects will need to apply for the program, providing details of their contributions. According to the announcement, the deadline for application submissions is Nov. 19, with decisions being made by Dec. 29.
Source
4️⃣ Billionaire Druckenmiller Calls Bitcoin A 'Brand' He Should Probably Own 🤔
In a recent interview with hedge fund manager Paul Tudor Jones, billionaire investor Stan Druckenmiller expressed his regret for not owning any BTC and stated that he believes Bitcoin has become a brand.
Druckenmiller stated,
“I’m 70 years old. I own gold. I was surprised that Bitcoin got going, but you know, it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with. 17 years, to me, it’s a brand. I like gold because it’s a 5,000-year-old brand. So, I like them both. I don’t own any Bitcoin, to be frank, but I should.”
Source
5️⃣ Singapore, Japan, U.K., Swiss Regulators Plan Asset Tokenisation Pilots 🏦
According to a recent announcement by the Monetary Authority of Singapore (MAS), the Singapore regulator is setting up a policymaker group called ‘Project Guardian’ to promote joint digital asset pilots in partnership with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA) and the United Kingdom’s Financial Conduct Authority (FCA). Specifically, the pilots will focus on asset tokenisation tests for fixed-income, foreign exchange and asset management products.
Leong Sing Chiong, the deputy managing director of markets and development at MAS, stated,
https://www.youtube.com/watch?v=Z7fK9376G8s
Читать полностью…
📣📣 MARKET MOVING NEWS! (30/10/23)
1️⃣ Uniswap DAO Temperature Check Shows Support for Investing UNI for Share in Ekubo's Future Governance Token 🤔
According to a recent ‘temperature check’ voting proposal on Uniswap’s governance forum, the Uniswap DAO is in support of investing 3 million UNI ($12 million) from its treasury for a 20% share of a potential governance token from Starknet-based decentralised exchange Ekubo.
Moody Salem, the founder of Ekubo and former engineer lead at Uniswap, stated
"We at Ekubo, Inc. believe this is a vitally important step in the decentralisation of Uniswap protocol development, effectively onboarding the Ekubo team as core developers."
Source
2️⃣ Thailand’s Kasikorn Bank Buys Majority Stake in Satang Crypto Exchange for $103M 🤝
Unita Capital, a new subsidiary of Thailand’s Kasikorn Bank (K-Bank) has reportedly acquired 97% shares in the parent company of Satang crypto exchange at a valuation of 3.705 billion Thai baht ($102.8 million). According to the filing, Satang will be re-branded to Orbix and will have three additional subsidiaries: Orbix Custodian, Orbix Invest (a digital asset fund manager), and Orbix Technology, once the deal closes.
Notably, the acquisition comes a month after K-Bank launched a $100 million fund targeting web3, fintech, and AI. Udomsak Rakwongwan, the co-founder of FWX.finance (another project in which K-Bank invested) stated that K-Bank had recently secured a crypto exchange license and was “actively pursuing the remaining licenses” for crypto in Thailand. He also noted that the Thai market has a high level of institutional support.
Source
3️⃣ Crypto Thief Steals $4.4M In A Day As Toll Rises From LastPass Breach 🥶
According to a recent X post by pseudonymous on-chain researcher ZachXBT, over $4.4 million of crypto assets were drained from at least 25 people across 80 wallet addresses on Oct 25th. Notably, ZachXBT stated that all of the affected wallets belonged to victims of a 2022 data breach that impacted password storage software LastPass. The on-chain sleuth has warned anyone who ever stored a wallet seed or private key in LastPass to “migrate [their] crypto assets immediately.”
Source
4️⃣ Bitcoin Whales Take Charge as Number of $100K Transactions Surge 📈
According to data tracked by blockchain analytics firm IntoTheBlock, the number of transactions involving a movement of at least $100,000 worth of BTC on the Bitcoin blockchain rose to a year-to-date high of 23,400 last week. Notably, the timing of this milestone coincides with BTC’s price topping the $35,000-mark last week.
IntoTheBlock stated,
"The bitcoin spot ETF applications appear to have increased whales' and institutions' appetite for bitcoin. Transactions of over $100k had previously spiked in late June after Blackrock's ETF filing and have now surpassed that level as Bitcoin sets new yearly highs. The recent rise in institutional activity might be a harbinger for what comes in 2024."
Source
5️⃣ Bitcoin Price And Energy Use For Mining Highly Correlated: UN Report 🔎
According to a recent study conducted by the United Nations, there is a direct correlation between the price of Bitcoin and the energy needed for mining operations. Specifically, researchers evaluated the activities of 76 Bitcoin mining nations during the 2020–2021 period and found that the global Bitcoin mining network consumed 173.42 terawatt-hours of electricity. The report notes, “A 400% increase in Bitcoin’s price from 2021 to 2022 triggered a 140% increase in the energy consumption of the worldwide Bitcoin mining network.”
However, Nic Carter has criticised the UN report for citing "completely fake academia in their papers". Specifically, he was referencing the citation of the ‘Mora et al. 2018’ paper, which had overestimated the carbon emission levels of Bitcoin mining rigs by including unprofitable mining rigs in their analysis. The top 10 Bitcoin mining nations at the time as per the UN report were China, United States, Kazakhstan, Russia, Malaysia, Canada, Germany, Iran, Ireland and Singapore.
Source