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🚨Rally Report🚨
PANCAKESWAP
The price of CAKE has rallied by 15% in the past 24 hours.
WHY?!
🎉 The PancakeSwap team has proposed to reduce the total supply of CAKE from 750 million to 450 million tokens. Notably, this marks a 40% reduction in CAKE’s token supply. The current circulating supply of CAKE is at 386.2 million. The proposal reportedly seeks to drive more value to the tokenomics of PancakeSwap’s native token CAKE.
🚀 Notably, the recent proposal comes just days after PancakeSwap announced the burn of over 9 million CAKE ($19 million) tokens as part of a move that helps to reduce their circulating supply. Investors seem bullish about the future of CAKE.
If you want to buy or trade CAKE, 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/
📣📣 MARKET MOVING NEWS! (20/12/23)
1️⃣ Do Kwon Extradition Approval Cancelled By Montenegro Court ⚖️
The Appellate Court in Montenegro has reportedly rejected the Montenegro high court’s Nov. 17 decision to approve the extradition of Terra founder Do Kwon to either the U.S. or South Korea. Notably, the Appeals Court cited issues in the legal process, specifically the court stated there were procedural issues in how the investigating judge dealt with the U.S. extradition request. The investigating judge reportedly failed to invite the defendant, Kwon, to hear his defence against the U.S. extradition request – something required by law. The case has now been returned to the initial court for a retrial.
Source
2️⃣ FTX's Bahamas Wing Reaches Agreement With U.S. Bankruptcy Team, Streamlining Future Actions 🤝
Affiliated debtors of crypto exchange FTX have reportedly made a global settlement agreement with the Bahamian subsidiary FTX Digital Markets which was subject to a separate liquidation process. The debtors described the ‘global settlement agreement’ as a "novel and mutually beneficial solution to the complex cross-border legal issues raised by the circumstances of the collapse of the FTX group."
Once the agreement is approved by the U.S. Bankruptcy Court for the District of Delaware and the Supreme Court of the Bahamas Court, FTX debtors and FTX Digital Markets will "pool assets and coordinate the establishment of reserves and the timing and amount of distributions" to make distributions to FTX.com customers, who will have to pick which entity they file their claim against.
Source
3️⃣ OKX Wallet Users Warned to Update App to Avoid Code Vulnerability ❗️
Blockchain security firm Certik has warned OKX Wallet users to update their iOS app after a critical Remote Code Execution (RCE) vulnerability was found in a previous version. In a post on OKX's Chinese social media page, the company responded by stating that the bug affected a third-party application service provider and that it does not threaten the security of user assets. However, it urged users to update their iOS app as soon as possible, as the vulnerability has been solved for iOS version 6.45.0.
Certik stated,
We urge users of OKX wallets to update their iOS app to the latest version immediately. Earlier this month, we identified and reported a critical Remote Code Execution (RCE) vulnerability in the OKX iOS app, leading to potential compromise of sensitive data and crypto assets. The OKX team responded swiftly and issued an updated version today.
Source
4️⃣ Immutable Debuts Passport Gaming Wallet in 'Gods Unchained' and More 🚀
Blockchain gaming startup Immutable has announced the official launch of its ‘Immutable Passport’ - a universal sign-on and wallet solution aimed at simplifying access to online games and marketplaces for players.
Notably, the new tool seeks to simplify the sign-up process for players by providing them with a universal profile that enables them to carry “their identity, achievements, and digital assets across different online games and marketplaces." Currently, Immutable Passport has been integrated into five crypto games and marketplaces — including Gods Unchained, Blocklete Golf, Bleacher Report's Watch2Earn, TokenTrove, and AtomicHub.
Source
5️⃣ Ripple Gets Approval To Operate As Digital Asset Service Operator In Ireland 🏦
Crypto payments network Ripple has reportedly received approval from the Central Bank of Ireland (CBI) to operate as a virtual asset service provider (VASP) in the country. This allows the firm to provide certain digital asset services in Ireland, including allowing Ripple to conduct transactions on behalf of another natural or legal person who moves digital assets from one address or account to another, crypto exchange services against fiat currencies, as well as exchange between different cryptocurrencies and custody services.
Ripple’s senior vice president of strategic initiatives, Eric van Miltenburg, stated
🚨 New Video Alert!! 🚨
What do you get when you put an Ex-Goldman macro analyst and a Billionaire VC investor into a room?
Well, an amazing crypto interview!
That's exactly what we were able to do in our latest video. Jessica interviewed Macro investor Raoul Pal and well-known VC, Tim Draper. They spoke about their current portfolios, investing theses as well as broader analysis of the current market.
And yes, they did have some Bitcoin price predictions for 2024.
Enjoy!
https://www.youtube.com/watch?v=Qak-nnFUNl8
Читать полностью…
📣📣 MARKET MOVING NEWS! (18/12/23)
1️⃣ Solana Saga Sells for Up To $5K On eBay as Bonk Frenzy Causes Sell-Out ❗️
According to reports, Solana Saga phones have been selling for over $2,000 on the e-commerce platform eBay, with a couple of phones even fetching a price of $5,000. Notably, the secondary premium for the new Saga phone is a result of the phone’s recent campaign which promises a free 30 million Bonk (BONK) token airdrop. With Bonk’s recent surge in price, this meant that the free airdrop had become more valuable than the device itself, causing the phone to sell out as of Dec. 16.
Source
2️⃣ Major NFT Indicies Stable After NFT Trader Hack 🙌
Nansen’s NFT-500 and Blue-Chip-10 indexes have reportedly become stable after the attacker behind the recent exploit of ‘NFT Trader’ returned most of the NFTs in exchange for a bounty. While the hack didn’t cause much fluctuation in the market, Nansen’s NFT-500 index is down 49% year-to-date in ether value, while its Blue Chip 10 index is down 45%.
Source
3️⃣ OKX NFT Marketplace Volume Surpasses Blur, OpenSea Amid Bitcoin Ordinals Frenzy 📈
The daily trading volume on crypto exchange OKX’s NFT trading platform has reportedly surpassed Blur and OpenSea. Notably, OKX NFT Marketplace recorded a 24-hour trading volume of $50.33 million, while Blur came in second with a daily trading volume of $13.21 million, followed by Magic Eden’s $7.63 million, UniSat’s $3.82 million and OpenSea’s $3.25 million.
Nick Ruck, chief operating officer of ContentFi Labs stated,
OKX has become the number one NFT marketplace after enabling trading of BTC Ordinals NFTs. Blur and OpenSea have not yet allowed trading of these Bitcoin-based NFTs, so they've started to fall behind in terms of volume due to the huge demand of Ordinals.
Source
4️⃣ Ordinals-Based Tap Protocol Raises $4.2 Million To Develop on Bitcoin 💰
Trac Systems, the parent company of Tap Protocol, has reportedly raised $4.2 million in a fundraising round aimed at developing Bitcoin's capabilities as a developer platform through the Ordinals system. The round was led by Sora Ventures and will see the funds being used to develop several applications on top of Bitcoin using Tap protocol, including as a platform for tokenisation, gamification, and DeFi. Currently, Tap Protocol has been used to develop applications that enable the fractionalisation of Ordinals art and token functions for gaming applications.
Source
https://www.youtube.com/watch?v=Ju0Lo_T3d9k
Читать полностью…
📣📣 MARKET MOVING NEWS! (17/12/23)
1️⃣ Bitcoin Fees Hit 20-Month High As Miner Revenues Match $69K BTC Price 📈
According to data from the statistics resource BitInfoCharts, the average transaction fee on the Bitcoin blockchain is currently just over $37— this is the highest average figure since April 2021. Notably, this is due to the recent surge in Bitcoin Ordinals inscriptions on the network. Many analysts predict this could continue for the foreseeable future, highlighting a potential rise in demand for layer-2 solutions built on Bitcoin.
Source
2️⃣ FTX's Revised Reorganization Plan Values Crypto Claims At Time Of Bankruptcy 🏦
The FTX Debtors estate has reportedly filed its amended Chapter 11 plan of reorganisation today. Notably, the amended plan proposes that the value of customer asset claims will be retroactively set to the time when the exchange collapsed in November 2022. Given how the market has since posted a healthy recovery, creditors could stand to lose out on millions in potential gains should the plan be approved.
Source
3️⃣ NFT Trader Hacked, Millions Of Dollars In NFT Stolen 🥶
Yesterday, peer-to-peer trading platform ‘NFT Trader’ suffered a security breach that allowed hackers to steal millions of dollars worth of high-value NFTs, including rare Bored Ape and Mutant Ape Yacht Club tokens, World of Women NFTs, VeeFriends, Art Blocks, and more. Notably, the exploit seems to have occurred due to a reentrancy vulnerability present in “old” smart contracts used by the platform.
While the issue has since been fixed, it is not yet clear how many attackers took advantage of the vulnerability. The apparent main attacker posted a public message to the blockchain, pinning the invention of the NFT exploit on another user and claiming the attack was to "pick up residual garbage." They offered to return the NFTs to the victims if they were paid a “bounty” of 10% of the NFT’s value. The attacker also made a series of confusing moves, refunding one Bored Ape along with 31 ETH to one user and returning certain staked Bored Apes to their owners, while keeping the ApeCoin rewards.
Source
4️⃣ Tether Responds To US Lawmakers’ Calls For DOJ Action ❗️
Stablecoin issuer Tether has published letters the company sent to the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee addressing requests for intervention by the Department of Justice (DOJ) about the illicit use of its stablecoin.
Notably, the letters seek to answer calls from Senator Cynthia Lummis and Representative French Hill from October, urging the DOJ “to carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism.”
As part of its response, Tether stated,
We have always assisted law enforcement when called upon to act, and we remain fully committed to continuing to work proactively with agencies globally. Tether has and will assist in identifying and freezing addresses subject to sanctions, engaged in illicit activity, or engaged in any form of terrorist financing.
Source
🚨 New Video Alert!! 🚨
What the hell is going on with ETH?
If you hold ETH like we do, you’ve probably been wondering this just as much as we have. That’s why we figured it was about time for another Ethereum update.
Not surprisingly, there have been a lot of bearish news about ETH over the last few months. Most of this has been just pure FUD, but some of it has been justified. Thankfully, sentiment is starting to change.
The rotation into ETH may not be just here yet, but we’ve identified a few catalysts that could trigger this. One of them could come in just a few weeks’ time, and no, it’s not the spot Ethereum ETF.
You’ll have to watch until the end to find out!
📣📣 MARKET MOVING NEWS! (15/12/23)
1️⃣ SafeMoon Files for Chapter 7 Bankruptcy After Exec Arrests, SEC Charges ❌
Crypto company SafeMoon filed for Chapter 7 bankruptcy protection on Thursday after the U.S. securities watchdog last month charged the firm and its executive team for alleged fraud and unregistered offering of crypto securities. The bankruptcy filings reveal that SafeMoon US LLC has between 50 and 99 creditors, estimated assets in the range of $10 million to $50 million and estimated liabilities of $100,001 to $500,000.
Source
2️⃣ Ledger Exploit Drained $484K; Former Staffer Linked to Malicious Code 🥶
Hackers stole approximately $484,000 from Ledger hardware wallet users after managing to insert malicious code into the GitHub library for Ledger's Connect Kit - a piece of code that allows DeFi protocols to connect to crypto hardware wallets. The exploit impacted several major DeFi protocols that use the library, including the likes of Sushi, Lido, Metamask and Coinbase. In a recently posted update, Ledger confirmed that the exploit occurred due to an employee falling for a targeted "phishing attack." Ledger also confirmed that the malicious version of the Ledger Connect Kit has since been removed.
Source
3️⃣ Solana DeFi Hacker Pleads Guilty in First-Ever Smart Contract Fraud Conviction ⚖️
Shakeeb Ahmed, a 34-year-old senior security engineer, reportedly pleaded guilty on Thursday to charges related to hacks on two decentralised crypto exchanges, including the July attack on Solana DEX Nirvana Finance. Notably, U.S. attorney for the Southern District of New York Damian Williams noted that this marks “the first-ever conviction for such a hack.” As part of his guilty plea, Ahmed has agreed to forfeit $12.3 million obtained from the two hacks along with paying the victims restitution totalling $5 million. Ahmed is expected to face a maximum sentence of five years in prison. He is scheduled to be sentenced on March 13.
Source
4️⃣ Brazil Signs Its Overseas Crypto Tax Bill Into Law ❗️
The President of Brazil has reportedly signed a law introducing taxes on crypto assets held abroad by Brazilian citizens. Notably, the new taxes will not apply exclusively to crypto but also to profits and dividends gained by Brazilian taxpayers from investment funds, platforms, real estate or trusts abroad. These gains will be taxed at the rate of 15%, with an exemption for overseas earnings up to 6,000 Brazilian reais ($1,200). The law will come into force from the beginning of next year (i.e., Jan. 1, 2024).
Source
https://www.youtube.com/watch?v=AZO0M3-wa5k
Читать полностью…
📣📣 MARKET MOVING NEWS! (13/12/23)
1️⃣ Montenegro Extends Do Kwon Detention on US, South Korea Requests 👮♂️
According to a Bloomberg report, Terraform Labs co-founder Do Kwon’s detention in Montenegro has been extended until mid-February at the request of the U.S. and South Korea, both of which aim to prosecute the crypto entrepreneur on charges related to the collapse of the TerraUSD stablecoin. Notably, the detention period had originally been scheduled to end this coming Friday. Just last week, a Wall Street Journal report stated that Montenegro’s Justice minister was considering extraditing Kwon to the U.S.
Source
2️⃣ Celestia To Integrate Data Availability Layer With Polygon CDK ❗️
Celestia is reportedly integrating its data availability layer with Polygon Labs’ chain development kit. This will allow developers to use the data availability solution when using Polygon's tech to design and set up their own layer-2 networks. The use of Celestia will result in reduced gas fees for these projects. Some of the layer 2 projects using Polygon CDK include OKX, Immutable, Astar, IDEX, Palm Network and others.
Sandeep Nailwal, co-founder of Polygon, stated
Combined with interoperability and unified liquidity provided by Polygon 2.0, Celestia’s out-of-the-box solution will make creating new L2 chains as simple and affordable as deploying a smart contract.
Source
3️⃣ Donald Trump Is Selling More NFTs—And the Original Sets Are Crashing Again 📉
Former U.S. President Donald Trump has announced the launch of a new set of digital trading cards called the "Mugshot Edition." Notably, the new set is a representation of Trump’s recent trouble with the law which saw him being indicted on charges by the State of Georgia in August, and having his mugshot taken in Atlanta.
Notably, each trading card will sell for $99 and those who buy 47 in a single transaction ($4,653) will get both dinner with Trump and a physical trading card that includes a piece of the suit he wore when the mugshot was taken by police in Georgia after he was indicted in August.
Source
4️⃣ SEC Hasn't Met Legal Requirements to Sue, Binance Says in Latest Bid to Dismiss Lawsuit ⚖️
In a recent court filing, Binance, Binance.US and former CEO Changpeng Zhao have argued that the U.S. Securities and Exchange Commission (SEC) did not meet the requirements of the “Howey Test” in its suit against the two companies and their founder in June.
Specifically, the entities fought against the SEC’s definition of “investment contracts” in the agency’s lawsuit against them. They stated that none of the transactions at issue contained a contract with a promoter to invest money into a common business enterprise. They also stated that the SEC ignored the requirement that the existence of an “investment contract” must be determined on a transaction-by-transaction basis.
The filing stated,
[Even] if there is ambiguity about how to apply the term ‘investment contract’ to digital assets, such a major question should be addressed by Congress and not by a court, a separation of powers proven necessary by the SEC’s own history of territorial aggrandizement.
Source
🚨 Coin Bureau Club Update! 🚨
Last week, we posted a video on the Pyth Network - and it was so mind-blowing that Guy decided to add $PYTH to his personal portfolio.
This week, we are reviewing a much smaller-cap GameFi project that is way less exciting. In fact, there are a few red flags that we are going to raise.
Beyond that, Guy & the Coin Bureau team are having a blast with CBC members in our private discord channels. Two weeks ago, Guy held a private 30 minute AMA call with one of our annual subscribers as well.
This is just scratching the surface of what else is on offer at the Coin Bureau Club. So, if you are still not a member now is your chance!
👉 https://hub.coinbureau.com/
P.S. Our introductory price offer is due to expire soon so be sure to get in while you can 🕙
🚨 New Video Alert!! 🚨
Another Monday, another weekly crypto review.
This week’s episode is particularly special, because the last week has been particularly eventful, at least as far as crypto prices go.
Given how much the markets have rallied, it seems like it’s high time for a correction, and there are no shortage of crypto and macro catalysts this week that could make it happen.
But, in the absence of this correction, BTC could continue to chop sideways while altcoins continue to rally. There are lots of airdrops coming in the middle of this, and we mention a few of them.
Enjoy!
🚨Rally Report🚨
BONK
The price of BONK has rallied by 20% in the past 24 hours.
WHY?!
🎉 Solana’s top memecoin BONK recently overtook PEPE to become the third-largest memecoin by market capitalisation.
🚀 Notably, several factors contributed to Bonk’s recent rally, including its listing on prominent centralised exchange KuCoin. Additionally, futures data reveals there is a substantial increase in open interest for BONK derivatives over the past month, this suggests traders are actively buying and selling high volumes of BONK derivatives.
If you want to buy or trade BONK, 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!! 🚨
BTC mining is falsely believed to be bad for the environment, even though this couldn’t be further from the truth. Unfortunately, most people don’t know what the facts are.
Fortunately, some people have been working towards finding these facts, and a group of them recently published a study which unpacks Bitcoin’s environmental benefits.
Oddly enough, the study seems to have omitted the most important part – how this could all impact BTC’s price. Stick around until the end to get our take on how these two factors are intertwined.
Enjoy!
The CBI’s addition of Ripple Markets to its list of registered virtual asset service providers is a significant step forward for our business in the region. Ireland has positioned itself as a supportive jurisdiction for the virtual assets industry and consequently as a great place for businesses like Ripple’s to operate, reinforcing our decision to select Ireland as our primary base for EU regulation.
Source
https://www.youtube.com/watch?v=kfOeVUbbx9Y
Читать полностью…
📣📣 MARKET MOVING NEWS! (19/12/23)
1️⃣ BlackRock Revises Spot Bitcoin ETF Proposal Ahead of Rumoured SEC Approvals 🏦
Asset manager BlackRock has reportedly filed a revised spot bitcoin (BTC) ETF proposal with the ticker IBIT. The updated proposal reveals that Blackrock’s ETF will feature cash creation and redemption mechanisms. This means that investors in this ETF can redeem their shares for the cash value equivalent of the Bitcoin held by the ETF. Notably, this is the model favoured by the Securities and Exchange Commission (SEC) due to its reportedly ‘safer’ and more ‘accessible’ characteristics. The other redemption model is the ‘in-kind’ redemption structure, which enables firms to redeem shares for bitcoin held by their ETFs.
Source
2️⃣ Circle Adds Solana to List Of Chains Used By EURC Stablecoin 🚀
Stablecoin issuer Circle Internet Financial has reportedly launched its euro-backed stablecoin ‘EURC’ on the Solana blockchain. EURC is already present on Avalanche, Ethereum and Stellar – making Solana the fourth network on which it has launched.
Circle stated,
EURC is well positioned to radically enhance utility across peer-to-peer transfers and European remittance corridors. Developers and users can now build and transact across both EURC and USDC on Solana for faster, lower-cost ways to send, spend and save money worldwide.
Source
3️⃣ Revolut Business Reportedly Cuts Crypto Services Ahead Of New UK Rules 🇬🇧
According to reports, digital bank Revolut is planning to suspend some of its crypto services for its U.K. business clients, beginning next year. Notably, Revolut stated that the planned suspension comes in response to the upcoming Financial Conduct Authority (FCA) rules on promoting crypto that will come into force on Jan. 8, 2024.
Revolut sent an email to its affected customers, stating,
These requirements aim to enhance the customer journey and provide additional protection for new and existing investors of crypto assets. As a result, we’ll need to adjust our current Business crypto offering to make sure all of the new requirements are met.
Source
4️⃣ Galaxy Digital Looking to Buy More Crypto Bankruptcy Assets After Deal to Sell FTX's Coins 🧐
According to a Financial Times report, crypto financial services firm Galaxy Digital is planning to buy more assets from bankrupt crypto companies after securing a deal to sell bitcoin and ether owned by crypto exchange FTX on behalf of the estate's management. Notably, that deal tripled Galaxy Digital’s ‘Assets under Management’ from $1.7 billion a year ago to a current $5.3 billion. Potential targets reportedly include FTX's VC portfolio of real estate and technology companies that includes a stake in AI start-up Anthropic.
Source
5️⃣ Metis, Ethereum Layer-2 Network, Creates $100M Fund as Decentralized Sequencer Launch Nears 💰
The MetisDAO Foundation, the entity behind the Ethereum Layer 2 scaling protocol Metis, has reportedly dedicated 4.6 million METIS tokens to create a roughly $100 million fund called the ‘Metis Ecosystem Development Fund’.
The fund will reportedly be used to accelerate the growth of the METIS ecosystem. The distribution of funds is planned for the first quarter of 2024, and potential recipients include those looking to build projects related to NFTs, DeFi, smart contract development and blockchain security in the Metis ecosystem.
Source
🚨 New Video Alert!! 🚨
It’s been an interesting week for crypto and macro.
On the crypto side, we’ve got Elizabeth Warren and her anti-crypto antics. On the macro side, we’ve got the Fed foreshadowing more money printing.
These factors had a predictable effect on the crypto market, and it looks like prices could go either way, at least for BTC. Meanwhile, altcoins have been rallying like crazy, some for good reason!
In today’s weekly crypto review, we take you through all of this and more. Be sure to stick around until the end to find out what last week’s top performing cryptos have in store!
🚨Rally Report🚨
ASTAR
The price of ASTR has rallied by 45% in the past 24 hours.
WHY?!
🎉 South Korean crypto exchange Upbit announced that it will be listing ASTR on the platform.
🚀 This has led to a nearly vertical spike in the price of the coin, possibly followed by speculative trading from South Korean traders.
If you want to buy or trade ASTR, we have an exclusive trading fee discount of up to 60% on Kucoin
👉➡️ https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
What causes BTC to pump or dump?
This is a question that people have been asking ever since Bitcoin began, but only a few have managed to answer it in a comprehensive manner.
Believe it or not, but the European Central Bank recently published a report which sought to provide an answer to this question. Its findings could have profound implications for BTC and crypto.
Of course, what drives BTC’s price at the end of the day is the people who are buying and selling it. The ECB has managed to distill the global and local factors that influence these people’s BTC behavior.
This is a video you cannot miss!
https://www.youtube.com/watch?v=N_dsJ65HV4w
Читать полностью…
📣📣 MARKET MOVING NEWS! (16/12/23)
1️⃣ Arbitrum Says All Systems Are Operational After 'Surge Of Inscriptions' Caused Outage Earlier In Day 😵💫
Earlier today, the Ethereum layer-2 blockchain Arbitrum (ARB) suffered a "partial outage" for over an hour and a half after a surge in transaction traffic impacted the blockchain's sequencer. Specifically, the surge in traffic seems to come from activity involving Ordinals-inspired inscription transactions. Notably, data researcher Hildobby tweeted that 90% of transactions had been inscriptions before the chain stopped. The issue has since been resolved and gas prices on the network have also stabilized.
Source
2️⃣ Coinbase Plans to Challenge SEC Denial of Crypto Rulemaking Petition ⚖️
Coinbase Chief Legal Officer Paul Grewal announced today that the crypto exchange is planning to challenge the U.S. Securities and Exchange Commission’s (SEC) denial of the company's rulemaking petition.
Grewal tweeted,
After 18 months of silence, we went to court to get the response the law requires. With appreciation for the Third Circuit, later today we'll again seek its help by challenging the SEC’s abdication of its duty. No one looking fairly at our industry thinks the law is clear or that there isn’t more work to do.
Source
3️⃣ Polygon Stops Work on 'Edge,' Used to Build Dogechain, as Focus Turns to ZK ⚡️
Polygon Labs has announced that it will be discontinuing support for Polygon Edge as it redirects its focus towards the expansion of its Chain Development Kit (CDK). Notably, the firm's CDK is designed for the development of various Layer 2 ZK-Rollups which are anticipated to be interoperable within a wide network. Several projects including Immutable, Astar, Canto, Gnosis Pay and Manta Network already have committed to using Polygon CDK.
Source
4️⃣ Taiwan Officials Launch Inquiry Into Crypto Betting On Election Results 🔎
According to media reports, Taiwan’s authorities are cracking down on citizens who are placing bets on the outcome of the country’s upcoming Presidential election on Jan. 13, 2024. Several Taiwanese citizens have reportedly used the decentralised betting platform ‘Polymarket’ to place bets on the upcoming presidential election. However, such betting is reportedly prohibited under Article 88-1 of Taiwan's Presidential and Vice Presidential Election and Recall Act. Citizens caught engaging in the activity may be subject to a fixed-term imprisonment of not more than six months, short-term detention or a fine of not more than NT$100,000 ($3,196.85) as per the law.
Source
🚨Rally Report🚨
BONK
The price of BONK has rallied by 90% in the past 24 hours.
WHY?!
🎉 BONK’s recent rally has pushed it into the list of top 50 cryptos by market capitalisation.
🚀 Notably, the recent rally comes as several major crypto exchanges announced they were listing BONK for trading. This includes Binance, Coinbase and Crypto.com.
If you want to buy or trade BONK, 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!! 🚨
What apps do you currently have on your phone?
Do you use any of them for your crypto investing / trading? And if so, how do you know they are any good? Are there better ones out there?
Well, in our video today, we are going to take you through 10 of the best crypto apps that you must have on your phone. Everything from exchanges to news, information and communication.
We also show you how to make the best use of these apps to give yourself an edge.
This is a vid you don't want to miss.
📣📣 MARKET MOVING NEWS! (12/12/23)
1️⃣ Sen. Elizabeth Warren Adds Five Co-Sponsors To Her Bill That Would Target Crypto ⚖️
U.S. Sen. Elizabeth Warren’s anti-money laundering bill titled "Digital Asset Anti-Money Laundering Act" has reportedly received support from five senators who have joined to co-sponsor the bill. The five senators are Sen. Raphael Warnock (D-Ga.), Sen. Laphonza Butler (D-Calif), Sen. Chris Van Hollen (D-Md.), Sen. John Hickenlooper (D-Colo), and Sen. Ben Ray Luján (D-N.M.).
Notably, the bill aims to extend Bank Secrecy Act requirements including KYC rules to miners, validators, and wallet providers. Sen. Van Hollen stated,
The lack of basic legal safeguards around crypto opens up Americans to countless risks. What’s more, crypto has become the payment method of choice for terrorist organisations, drug cartels, and authoritarian regimes in order to fund their illicit activities. Crypto should be governed by the same transparency rules as traditional banks to protect Americans and help ensure it isn’t used to facilitate illegal behaviour by criminal enterprises and rogue nations.
Source
2️⃣ El Salvador’s Bitcoin Bond Gets Regulatory Approval, Targets Q1 Launch ❗️
El Salvador’s Digital Assets Commission has reportedly approved the country’s long-awaited “Volcano Bonds.” The Volcano bonds are Bitcoin-backed bonds whose launch is expected to help pay down the country’s sovereign debt and fund the construction of its proposed “Bitcoin City.” The bonds are tentatively scheduled to launch in Q1 next year and will be offered on Bitfinex Securities, a regulated division of crypto exchange Bitfinex.
Source
3️⃣ Seamless Protocol Issues SEAM, Bags First Base-Blockchain Token Listing on Coinbase 📈
Seamless Protocol, a DeFi lending and borrowing project on Coinbase's Base ecosystem, has reportedly airdropped governance tokens that will trade on the crypto exchange with the ticker SEAM from Monday 18:00 UTC. Notably, SEAM will be the first Base token listed on Coinbase.
A community contributor to Seamless Protocol stated,
Coinbase Day One listings are the most exclusive listings since no token exists until it is listed on Coinbase (no decentralized exchanges, etc.). Their requirements are extra stringent. There's a separate listing process for Day One listings, including true decentralization (so making sure that the token has utility on day one, even though it doesn't exist yet), plus the biggest one is that the protocol could not have already released its token or it is disqualified.
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4️⃣ China to Verify Citizens' Identities With New Blockchain-Based Platform 🇨🇳
According to an announcement from China's national-level blockchain initiative ‘the Blockchain-based Service Network’ (BSN), the country will use blockchain technology to verify the real-name identities of China's 1.4 billion population. Notably, China's Ministry of Public Security spearheaded the initiative, called RealDID, with help from BSN.
Notably, BSN described RealDID as “the world's first national-level real-name decentralized identity system”. The service will reportedly allow users to register and log in to websites anonymously using DID addresses and private keys, ensuring that business data and transactions remain disconnected from personal information.
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https://www.youtube.com/watch?v=oD4kHx14XEs
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📣📣 MARKET MOVING NEWS! (11/12/23)
1️⃣ Decrypt Media Inc. and Rug Radio Merge to Create Global Web3 Publishing Company 🤝
Decrypt Media Inc. and Rug Radio are reportedly planning to merge operations next year while retaining brand independence.
The merger, which seeks to create “the world’s biggest decentralised publishing company,” will see qualified members of Rug’s decentralised community craft editorial content on a wide range of topics in collaboration with Decrypt's editors. In return, Decrypt's editorial staff will gain access to Rug's creator platform, a proprietary suite of videocasting tools.
Notably, the new holding company plans to issue a token that would establish a media ecosystem benefiting consumers, creators, and advertisers. The teams have revealed their plan to collaborate exclusively with Layer 2 blockchain Arbitrum for the network that supports its newly minted media ecosystem. The merger is expected to be completed by the end of January.
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2️⃣ Tether's New Sanctions Froze 161 Wallets. Only Eleven Hold USDT 🤔
According to data from Etherscan, stablecoin issuer Tether froze 161 Ethereum wallets yesterday. Notably, this follows Tether’s recent decision to increase its compliance with OFAC. However, 150 of those wallets currently hold no USDT tokens while the remaining 11 wallets hold over 3.5 million USDT tokens. Interestingly, 3.4 million of these tokens are held by just one address – an address that blockchain sleuth ZachXBT recently linked to the recent hack of betting platform Stake. It remains unclear why Tether froze the wallets with no USDT balance, though it is possible that the wallets contain USDT tokens on different chains besides Ethereum. However, ‘The Block’s’ search of data on networks such as Polygon, Arbitrum and Optimism reportedly yielded no significant findings.
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3️⃣ Bitcoin Wallet Conio, Coinbase Team Up to Bring Crypto to Italian Banks 🏦
Conio, a crypto wallet company partly owned by Poste Italiane and Banca Generali, has reportedly partnered with Coinbase Prime to bring a wide range of digital assets to Italian banks and financial institutions.
Conio general manager Orlando Merone stated,
Conio created the first multi-sig bitcoin wallet for smartphones in Italy, and we are now enlarging the custody capabilities because Italian banks are demanding more in the way of digital assets. We are adding EVM Ethereum Virtual Machine chains, and the target is to cover almost 60% of the digital assets market by next year. The Bank of Italy is in touch with a lot of projects and looking closely at the market. In terms of the fintech industry, with tokenization, you are going to completely rework e-money most probably. It’s great that they are championing the Italian digital assets space.
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4️⃣ South Korea Excludes NFTs and CBDCs from Crypto Interest Mandate 🔎
In a recently published notice, South Korea’s Financial Services Commission (FSC) announced that by July 2024, banks used by virtual asset exchanges will have to pay interest on user funds deposited through exchanges. The notice also stated that exchanges must separate user deposits and their own and entrust these to a bank. Additionally, it stated that 80% of the exchange’s virtual asset holdings must be stored in a cold wallet. However, the notice also clarified that these rules will not apply to NFTs and central bank digital currencies (CBDCs).
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https://www.youtube.com/watch?v=Hqa17FK0ses
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📣📣 MARKET MOVING NEWS! (10/12/23)
1️⃣ Pudgy Penguins Reveal 'Pudgy World' NFT Game Rollout Plans 🐧
At the contemporary art convention ‘Art Basel’ in Miami, Pudgy Penguins CEO Luca Netz announced the NFT and toy brand ‘Pudgy Penguins’ was expanding into a new industry – ‘online gaming.’
Specifically, the team unveiled a trailer for ‘Pudgy World’ – a ‘free-to-play’ 3D browser game experience powered by Ethereum Layer 2 network zkSync Era. The team stated that the alpha version of the game, which is expected to launch sometime in 2024, will be open to all gamers. However, Pudgy NFT holders and Pudgy Toy buyers will be able to claim unique perks inside the game's virtual world.
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2️⃣ Compound DAO Vote To Pay Developer for Major Bugfix Falls 15,000 Votes Short of Quorum ❌
Pseudonymous developer KP’s recent proposal seeking a $125,000 reward for his efforts in fixing a vulnerability on Compound’s v3 protocol ‘Comet’ has reportedly failed after falling 15,000 votes short of a necessary 400,000 supporting vote quorum.
Specifically, the vulnerability KP discovered would have allowed an attacker to directly steal user funds, though at a massively unprofitable cost — it would cost an attacker billions in gas fees to steal $1 million in funds. KP’s proposal had received support from the core Compound team and market maker Wintermute. KP has now reportedly resubmitted the proposal, asking for a reward of $100,000 instead.
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3️⃣ Tether Freezes 41 Crypto Wallets Tied to Sanctions 🥶
Stablecoin issuer Tether has reportedly frozen 41 crypto wallets controlled by people on the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals (SDN) List.
Describing the actions as "precautionary measures,” Tether CEO Paolo Ardoino stated,
By executing voluntary wallet address freezing of new additions to the SDN List and freezing previously added addresses, we will be able to further strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem for all users.
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4️⃣ KyberSwap Exploiter Linked to $50M HXA Token Movement ❗️
According to an alert by blockchain security firm Cyvers, the attacker behind the recent KyberSwap exploit moved $50 million in HXA tokens (the native utility token of the Herencia Artifex NFT project) from an Ethereum address using the “transfer from function.”
Notably, the security breach is related to a potential flaw in the Multicall function, which is part of the Thirdweb libraries utilised in the HXA token’s smart contract. The HXA tokens have now reportedly been spread across various externally owned accounts (EOAs) which are also now recognised as the top HXA token holders. Coincidentally, crypto exchange MEXC had also temporarily halted HXA token withdrawals and deposits due to the abnormal on-chain operation of HXA whose official website is also currently inaccessible.
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5️⃣ DOJ Unveils Extensive Monitorship Over Binance Operations ⚖️
Recently unsealed documents reveal that the United States Department of Justice (DOJ) has significant oversight of crypto exchange Binance’s operation and business activities.
Notably, former Securities and Exchange Commission (SEC) official John Reed Stark described the “exhaustive list” of Binance’s new compliance commitments as a “consulting firm’s wish list” that will likely shut down the platform. Specifically, Binance’s new obligations include cooperation to grant authorities access to documents, records and resources at their request, including access to information related to its “former employees, agents, intermediaries, consultants, representatives, distributors, licenses, contractors, suppliers, and joint venture partners.”
Stark stated,
Binance’s settlement requires it to offer years of instantaneous access, audit, examination and inspection to DOJ, FinCEN and all types of financial regulators and law enforcement, exposing the company — and its customers — to a 24/7, 365-days-a-year financial colonoscopy.
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