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🔔 MARKET MOVING NEWS! (18/02/24)
1️⃣ FTX Creditors File Class Action Against Bankruptcy Lawyers Over Ties To FTX Prior To Its Collapse 🤔
FTX creditors have reportedly filed a class-action lawsuit against the exchange’s bankruptcy law firm Sullivan and Cromwell on allegations that it was so closely involved with the exchange before its collapse that it should be held partially responsible for the exchange’s actions.
The filing states,
S&C knew of FTX US and FTX Trading Ltd.’s omissions, untruthful and fraudulent conduct, and misappropriation of Class Members’ funds. Despite this knowledge, S&C stood to gain financially from the FTX Group’s misconduct and so agreed, at least impliedly, to assist that unlawful conduct for its own gain.
Think of the ETF launch as Bitcoin’s IPO in the U.S. market. It has just unleashed a huge wave of interest from traditional finance, and it has exceeded my expectations.
https://www.youtube.com/watch?v=cwk_l-U-0D4
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🔔 MARKET MOVING NEWS! (17/02/24)
1️⃣ Bitcoin Mining Difficulty Breaks Above 80 Trillion For First Time 💸
According to the blockchain explorer BTC.com, the mining difficulty of the Bitcoin network hit a new all-time high of 80 trillion on Friday. The network’s hash rate, which measures miners’ total computational power, also reached 562.81 exahashes per second (EH/s). Analysts expect the Bitcoin mining difficulty to reach 100 trillion in the next few months.
Source
2️⃣ Bored Ape Creator Yuga Labs Acquires Moonbirds NFT Startup Proof 🤝
BAYC-creator Yuga Labs has reportedly acquired rival NFT creator Proof, best known for its Moonbirds NFT collection and the Proof Collective membership program. As part of the acquisition, Yuga Labs has completely acquired Proof and all of its properties, including Moonbirds, Oddities, Mythics, and Grails. The Proof team will reportedly be merged with Yuga’s staff, and the Moonbirds collection also be integrated in Yuga’s upcoming Otherside metaverse game.
Yuga Labs CEO Daniel Alegre stated,
As a company committed to championing art, culture, and community on the blockchain, we’re excited to have PROOF join the Yuga ecosystem.
🔥 Rally Report 🔥
RONIN
The price of RON has rallied by 5% in the past 24 hours.
WHY?!
📌 Yesterday, Axie Infinity developer Sky Mavis announced that it will reduce RON token rewards paid to liquidity providers on its Katana decentralized exchange (DEX) by 50%.
🔼 Investors are bullish as this will reduce the number of RON tokens being added to the circulating supply daily.
If you want to buy or trade RON, we have a 20% trading fee discount + $600 bonus for you on Binance 👇
🔗 https://www.coinbureau.com/deals/trading/binance/
🚨 New Video Alert!! 🚨
With the crypto markets heating up, everyone is wondering which altcoins will rally the most. One of the altcoins that seems to be on the brink of a breakout is none other than Avalanche’s AVAX.
As some of you may have noticed, Avalanche has positioned itself as the number one destination for GameFi. This is a bit funny considering that its trying to tokenise all the world’s assets.
What this means is that AVAX could perform well based on narrative alone, but Avalanche still has its fair share of challenges. Be sure to stick around until the end to get the full story!
🔔 MARKET MOVING NEWS! (15/02/24)
1️⃣ Telefónica Teams Up With Chainlink to Provide Security Against 'SIM Swap' Hacks 🤝
Spain-based telecommunications company Telefonica announced a strategic partnership with web3 solution provider Chainlink Labs. Notably, the partnership will see the integration of real-world telecommunications capabilities in blockchain networks for improved security. Specifically, this will provide security for smart contracts connecting with other Application Programmable Interfaces (APIs) on the "GSMA Open Gateway.” One of the first use cases of the initiative will be to prevent exploits such as "SIM Swap" attacks through the implementation of the SIM SWAP API that checks the last time a SIM card associated with a mobile number has been modified.
Source
2️⃣ Pro-Crypto Candidate Wins VP Slot In Indonesia’s Presidential Race 🍾
According to a Reuters report, an unofficial tally of votes shows that Indonesia’s former defence minister Prabowo Subianto and his pro-crypto running mate Gibran Rakabuming Raka have claimed victory as the country’s next president and vice president respectively. Notably, this is bullish for the local crypto community as their victory potentially ensures that Prabowo and Gibran could uphold existing policies and pave the way for more crypto-friendly regulations.
Source
3️⃣ Paradigm's White Hat Hacker Samczsun Spearheads Crypto Security Operation Called Security Alliance ⚡️
Paradigm’s Head of Security Samczsun has reportedly created a new crypto security operation called ‘The Security Alliance’ (aka SEAL Org). Notably, SEAL Org is a nonprofit registered in the United States that will reportedly provide support for “white hat” hackers capable of recovering funds from exploiters.
The new entity is expected to provide crypto users affected by a hack or other security incident access to a 24/7 emergency hotline. It also provides web3 developers free red team exercises, which simulate an adversarial cyber attack against an organisation's systems to ascertain vulnerabilities and prepare efficient responses.
Source
4️⃣ DEBT Box Asks Judge To Deny SEC Move To Dismiss Case ▶️
Software firm Debt Box has reportedly asked a Utah federal judge to deny the United States Securities and Exchange Commission’s (SEC) motion to dismiss a controversial enforcement action against it. Notably, Debt Box described the SEC’s move as a strategic maneuver to evade possible sanctions and a permanent dismissal due to alleged misconduct.
The filing states,
The SEC wants a double standard--it wants to be treated differently before federal courts than those that it regulates or attempts to regulate. When an individual or entity is suspected of making materially false and misleading statements in the securities market, the SEC brings charges under the anti-fraud provisions of the federal securities laws and seeks the heaviest monetary and non-monetary sanctions that it believes it can obtain in court.
🔔 MARKET MOVING NEWS! (14/02/24)
1️⃣ Ledger, Coinbase Pay Integrate to Give Users Direct Access to Buy, Sell Crypto 🤝
Hardware wallet maker Ledger has reportedly integrated with Coinbase to allow Ledger users to buy crypto using the exchange's Coinbase Pay as an on-ramp.
Ian Rogers, the chief experience officer at Ledger stated,
There are 5.3 billion internet users, 5 billion social media users, 500 million crypto owners, and there are on the order of 10 million people in secure self-custody. That's a very small number. So for us things like this are about advancing that narrative.
What Standard Custody brings to the portfolio here is another set of important licenses with trust licenses in the U.S. Being able to provide not just the technology component to financial institutions who want to use blockchain for all types of decentralized financial services, you also need a compliance piece. And so these licenses are really key to us being able to deliver that full end-to-end solution.
This is not an attack on Safe […] rather they decided to use this Safe vault contract because Etherscan automatically adds a verification flag to Safe contracts, which can provide a false sense of security as it’s unrelated to validating whether or not the contract is malicious.
🚨 New Video Alert!! 🚨
Have you heard about the new payment system the BRICS has been secretly developing? No, not the BRICS currency – a brand new CBDC based financial system that bypasses SWIFT.
This CBDC system has been in development for over 5 years, yet it’s gone by unnoticed until recently. That might have something to do with the fact that it’s about to launch its MVP.
Here’s where things get crazy: this CBDC system is based on a popular cryptocurrency, and it’s quite possible that crypto will play a role in its future iterations.
This is a video you cannot miss!
🔥 Rally Report 🔥
MANTLE NETWORK
The price of MNT has rallied by 12% in the past 24 hours.
WHY?!
📣 The Mantle team posted a tweet yesterday hinting at a potential ‘big announcement’ being made today. The rally likely follows speculation about this incoming ‘announcement.’
🧐 While it remains unclear what this announcement would be, the X account has since made two announcements. The first relates to its participation in a $1.8M strategic funding round for intents-based perp futures DEX ‘IntentX’ and the second relates to the listing of MNT on South Korean crypto exchange Bithumb.
If you want to buy or trade MNT, we have an exclusive $50K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
🔗 https://www.coinbureau.com/deals/trading/bybit-cb/
Looking for a Bybit guide?! ⚡️
🔗 https://www.youtube.com/watch?v=YZV9mji7UQo
🚨 New Video Alert!! 🚨
Happy Monday and happy Chinese New Year to those of you who celebrate it! It seems the celebrations have kicked off in a big way, because BTC and many cryptos are seeing big green days!
Not surprisingly, there were quite a few bullish catalysts that got BTC, ETH, and altcoins moving last week. Surprisingly, there were a few cryptos that had some bearish catalysts, namely Monero.
At the same time, there’s increasing pressure on the People’s Bank of China to start stimulating. If it does, it could give a second wind to the rally we’ve seen so far. It looks like it’s now or never.
Enjoy!
https://www.youtube.com/watch?v=wxqPRwhEvDI
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🔔 MARKET MOVING NEWS! (11/02/24)
1️⃣ FTX Files To Sell Subsidiary Acquired For $10 Million To CoinList For $500,000 🥶
The FTX Debtors estate, led by CEO John Ray III, has reportedly filed to sell one of its assets ‘Digital Custody Inc.’ (DCI) to CoinList for just $500,000, with the financing provided by DCI's original CEO and seller, Terence J. Culver. Notably, FTX had previously purchased the subsidiary in two $5 million transactions in Dec. 2021 and Aug. 2022.
According to FTX’s legal filing, DC was acquired to offer custodial services for FTX US and LedgerX. However, DC was not fully integrated into the FTX ecosystem before former CEO Sam Bankman-Fried filed for bankruptcy in November 2022, three months after acquiring DC. The lawyers now explain that their failure to restart FTX.US means DCI is essentially worthless to the estate.
Source
2️⃣ OKX Rolls Out Crypto Exchange Services in Argentina 🚀
Crypto exchange OKX has announced the launch of its services in Argentina as part of its ongoing strategy to target the Latin American market. Notably, the expansion follows its launch in Brazil in late 2023. OKX stated that Argentine users will be able to access its crypto exchange platform, self-custody wallet and NFTs trading platform. Interestingly, Argentina ranks 15th on the Chainalysis 2023 Global Crypto Adoption Index.
Source
3️⃣ NFT Of Tom Brady Sells For $40,000 Ahead of Super Bowl Drops Promoted By Joe Montana, John Elway ☄️
Dapper Lab's NFL All Day digital collectibles brand recently issued promotional packs of NFTs during the Super Bowl playoffs in January. Notably, a couple of NFTs from the collection reportedly scored high-profile sales including an NFT featuring Tom Brady, which sold for over $40,000, and a similar NFT featuring quarterback Aaron Rodgers which fetched $34,000. Notably, Dapper Labs is now planning to take advantage of the Super Bowl excitement by advertising promotional NFT drops that feature famous moments in the careers of all-time great, Super Bowl-winning quarterbacks like Joe Montana and John Elway.
Source
4️⃣ Kraken, ETF Issuers, And Other Crypto Giants Pass On Super Bowl Ads ❓
According to a Fox Business report, many major crypto companies, including crypto exchange Kraken, have already confirmed that they're passing on ads for this year’s Super Bowl.
Mayur Gupta, the Chief Marketing Officer at Kraken stated,
The Super Bowl is a very U.S.-centric event, and the next wave of crypto users will come from all around the world, not just the United States. If the last wave of crypto marketing was all about hype and FOMO (Fear of Missing Out), this current wave has to be rooted in education and awareness for the substance and true value proposition of crypto as a movement that will bring financial freedom and inclusion.
🚨 New Video Alert!! 🚨
Happy Chinese New Year! 🐲
2024 marks the Year of the Dragon, and - like every other year before it - will be one of the most celebrated festivals worldwide.
Did you know that, historically, the Chinese New Year festival has also had some profound impacts on the crypto market? Investors will base decisions on various aspects of Chinese culture, with surprising accuracy.
That’s why in today's video, we’ll be taking a look at this spectacular event, how it’s used to make investment decisions, and how it could play out.
This is a video you cannot miss!
🔥 Rally Report 🔥
SUI NETWORK
The price of SUI has rallied by 11% in the past 24 hours.
WHY?!
📣 The Sui team announced its first set of speakers for its global conference Sui ‘Basecamp.’
☄️ Notably, the project announced a number of other developments over the past week, including its partnership with Ondo Finance which will see Ondo deploy its yield-bearing stablecoin USDY onto Sui Network.
If you want to buy or trade SUI, we have an exclusive $50K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
🔗 https://www.coinbureau.com/deals/trading/bybit-cb/
https://www.youtube.com/watch?v=IOC0FYvJAMc
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🔥 Rally Report 🔥
RONIN
The price of RON has rallied by 16% in the past 24 hours.
WHY?!
👾 Pixels, a farming game on the Ronin network, is launching its native token ‘PIXEL’ on Binance tomorrow. Over the past month, the game has been soaring popularity due to its play-to-airdrop program which will also see rewards being airdropped to participants tomorrow.
📈 As a number of users have been onboarded onto Ronin due to Pixels, investors are bullish that Ronin could see serious demand from other projects as well. This in turn could mean that RON could see demand as well.
If you want to buy or trade RON, we have a 20% trading fee discount + $600 bonus for you on Binance 👇
https://www.coinbureau.com/deals/trading/binance/
🚨 New Video Alert!! 🚨
There’s never a dull day in the crypto market.
This week, Jessica interviewed Arthur Hayes, one of the co-founders of the BitMex exchange, and who is nowadays better known as one of the most articulate, opinionated and outspoken crypto enthusiasts in the industry.
They spoke about the bull market, spot Bitcoin ETFs, China and even shitcoins. In true Arthur style, he didn’t hold back. He gave his take on the markets, where crypto is at right now and what we can expect over the next 12-18 months.
All this and more in today’s video!
Enjoy!
🔔 MARKET MOVING NEWS! (16/02/24)
1️⃣ Coinbase Shares Surge After It Crushes Wall Street Expectations 📈
The price of crypto exchange Coinbase’s shares surged after the exchange beat analysts' estimates for fourth-quarter earnings and revenue. Specifically, Coinbase reported fourth-quarter revenue of $953.8 million, while analysts had predicted quarterly revenue of $826.1 million.
Additionally, the reported revenue is a 41% increase from the previous quarter and an increase of about 50% when compared to the same period the previous year. Shares of the crypto exchange rose about 13% in post-market trading after adding about 3% during the regular session.
Source
2️⃣ GoFundMe Shuts Down Tornado Cash Legal Defense Crowdfunding ❌
Crowdfunding platform GoFundMe has reportedly cancelled a fundraiser dedicated to collecting legal fees for the co-founder of sanctioned crypto mixer Tornado Cash, Roman Storm, and its developer, Alexey Pertsev. Specifically, the platform cancelled the fundraiser stating that it breached Term 22 of its terms of service. Term 22 prohibits fundraisers that could “expose GoFundMe, its employees or Users to any harm or liability of any type.” All funds will reportedly be returned to donors’ bank accounts in three to seven business days.
Source
3️⃣ JPMorgan Says US Regulators Can 'Exert Some Control' Over Tether Via OFAC 🧐
In a research report published Thursday, JPMorgan analysts led by Nikolaos Panigirtzoglou stated that American authorities can still exert a certain degree of control over USDT issuer Tether through the Office of Foreign Assets Control (OFAC). Specifically, the report states that this could be achieved through “indirect measures and international cooperation” based on Tether's association with Tornado Cash for example.
When reached for comment on the report, Tether CEO Paolo Ardoino stated,
JPMorgan's current concerns seem more related to the jealousy towards the evolution of financial and payment services, which they have been ignoring for a decade and now they're upset because it got a lot of traction. If I were them, I would be more concerned about their $39 billion total fines.
https://www.youtube.com/watch?v=_Pqlmy1nSWg
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At a recent hearing, U.S. Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson testified that terrorist group Hamas has received very little support in digital assets. Notably, this counters earlier reports that it got tens of millions in crypto. However, he also added that his office is focused on the threat from digital assets and asked Congress to help provide more tools.
Source
🔥 Rally Report 🔥
VECHAIN
The price of VET has rallied by 17% in the past 24 hours.
WHY?!
🚀 The rally comes after the team announced that Account Abstraction (AA) is live on VeChain. Notably, AA brings programmable smart contract wallets to VeChain, allowing developers to create more user-friendly applications for Web-2 users.
📈 Additionally, data from VeChainStats shows that unique addresses on the network surged 27% from around 2.2 million at the start of October 2023 to a new all-time high of 2.8 million as of February 5th.
If you want to buy or trade VET, we have a 20% trading fee discount + $600 bonus for you on Binance ⚡️
🔗 https://www.coinbureau.com/deals/trading/binance/
https://www.youtube.com/watch?v=aWIUbIGwWeE
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🔔 MARKET MOVING NEWS! (13/02/24)
1️⃣ Bitcoin Breaks $50K for First Time Since Hitting All-Time High in 2021 🚀
Yesterday, the price of BTC broke past the $50,000 price mark for the first time since December 2021. Specifically, Coinbase data shows that Bitcoin hit the $50,000 mark at 11 a.m. Eastern Time (5 p.m. Central European Time) on Monday. Analysts state that BTC's price rise is due to renewed interest from Wall Street after the approval of the spot BTC ETFs and the selling pressure from Grayscale subsiding.
Source
2️⃣ South Korea Rocked By Alleged Celebrity Crypto Scandal ‼️
According to local media reports, many popular celebrities and YouTubers in South Korea have been accused of being involved in an alleged crypto scam due to their promotions of Winnerz -- a Korean blockchain sports platform that operates several businesses including issuing cryptocurrency.
Specifically, Winnerz has been accused of running a coin scam after anonymous investors alleged that the company was issuing fake cryptocurrency, gathering investments and forbidding investors to take out their money. The scheme was reported to the National Police Agency on Feb. 5 after being reported to the National Civil Service earlier.
Source
3️⃣ Criminal Sentencing Of Binance Founder CZ Postponed To Late April ❓
According to a CNBC report, the criminal sentencing for Binance founder and former CEO Changpeng “CZ” Zhao has been postponed to April 30th this year. However, the reason for the delay is yet to be revealed to the public. Notably, the hearing will see CZ potentially face a maximum sentence of 18 months in prison, though prosecutors reportedly have considered asking for a harsher sentence.
Source
4️⃣ Peter Thiel’s Founders Fund Made $200 Million Crypto Investment Before Bull Run 📈
According to a Reuters report, the Peter Thiel-founded venture capital firm Founders Fund invested $200 million in bitcoin and ether last year. Notably, Bitcoin’s price was below $30,000 at the time of the purchase, marking a nice profit for the fund at current price levels.
Source
5️⃣ Tether and Circle Stablecoin Purchases Dominate in Argentina 🔍
According to a report by crypto exchange Bitso, Argentina has the largest purchases and holdings of stablecoins in Latin America over the past six months. Notably, the purchases come at a time when the country is dealing with a severe economic crisis and plunging peso. Specifically, 60% of Argentine crypto purchases on Bitso were for dollar-based stablecoins USDT and USDC and just 13% of buys were for bitcoin. This compares to Colombia, Brazil and Mexico, where stablecoin purchases ranged between 31% and 40% of total crypto buys.
Source
https://www.youtube.com/watch?v=Ezwpq_wpw-I
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🔔 MARKET MOVING NEWS! (12/02/24)
1️⃣ Joe Biden Posts ’Laser Eyes’ Meme After Super Bowl — But It’s Not About Bitcoin 🥲
Earlier today, United States President Joe Biden took the crypto community by storm after he posted a laser-eye emblazoned picture of himself on his X and Instagram profiles. Many crypto enthusiasts initially took it to be a direct reference to or endorsement of Bitcoin.
However, the post captioned “just like we drew it up,” was reportedly made in reference to the Kansas City Chiefs’ win over the San Fransico 49ers in the 2024 Super Bowl. The picture reportedly uses the “Dark Brandon” meme to reference the conspiracy theory that the Super Bowl would be rigged to ensure that Taylor Swift’s boyfriend Travis Kelce’s team would win so that the pop superstar could then endorse Biden for president.
Source
2️⃣ Chinese Bitcoin Miners Find a New Crypto Haven in Ethiopia ⚡️
According to a Bloomberg report, Chinese crypto mining companies are increasingly looking to invest in Ethiopia for their mining operations. While cryptocurrency trading is banned in Ethiopia, the country legalized Bitcoin mining in 2022. Miners are reportedly attracted by Ethiopia's cheap electricity, of which 92% is provided by hydropower. Notably, the country has bolstered ties with China over the past decade, and several Chinese companies helped build the $4.8 billion dam the miners plan to draw their power from. The report also states that some unnamed miners even present themselves as different operations, like factories or agricultural projects, to access electricity without official state approval for Bitcoin mining.
Source
3️⃣ New Zealand Central Banker Slams Stablecoins as ‘Oxymorons’ 🤔
Speaking before a Feb. 12 parliamentary finance committee, New Zealand central bank governor Adrian Orr criticised and warned against holding stablecoins, claiming that they are “the biggest misnomers” and “oxymorons.” He warned that they were “not stable” and that they were only “as good as the balance sheet of the person offering that stablecoin.” Notably, the comment came in response to a question on whether the Reserve Bank of New Zealand was concerned about decentralised digital currencies and stablecoins, to which he replied that the bank was “critically concerned.”
Source
4️⃣ Australian Judge Hands Split Decision in Market’s Regulator vs Block Earner ❓
Judge Ian McNeil Jackman has reportedly delivered a split decision in a case brought by the Australian Securities and Investments Commission (ASIC) against Sydney-based crypto start-up Block Earner.
Notably, ASIC had sued Block Earner, alleging the fintech company provided a range of unlicensed fixed-yield earning products based on crypto assets in November 2022. On Friday, the Australian court ruled that Block Earner engaged in unlicensed financial services conduct when offering its crypto-backed Earner product. However, Judge Jackman dismissed allegations relating to Block Earner’s DeFi “Access” service. The court will determine the fine Block Earner will have to pay during a scheduled hearing on March 1, 2024.
Source
5️⃣ Philippines May Introduce Non-Blockchain CBDC in The Next Two Years 🔍
According to local media reports, the central bank of the Philippines is planning to introduce a wholesale central bank digital currency (CBDC) in the next few years. Notably, Eli Remolona, the Governor of Bangko Sentral ng Pilipinas (BSP), stated that the central bank will not use blockchain technology in the project. Instead, the CBDC will operate on a payment and settlement system owned by the central bank.
Source
6️⃣ Farcaster Revenue Hits $600,000 During Protocol’s Second Wave Of Attention ☄️
According to a report from The Block, decentralised social media network Farcaster’s total revenue has reached $600,000. Notably, the rise in revenue is due to the platform’s recent rise in popularity after the launch of its ‘Frames’ feature. The recent wave saw a massive rise in user signups, the number of daily users, and the number of posts per day.
Source
🚨 New Video Alert!! 🚨
How much do you need to be in the top 1% of richest people in the world?
To answer this question, we will take you through the recent wealth report and its most interesting findings.
We’ll explain why global wealth seems to be in decline. Who owns this money and where they live. Not only will we look at the development of personal wealth but also examine national and regional economies.
This is a video you need to watch until the end!
P.S. We hope you like our new deals skit!
https://www.youtube.com/watch?v=oj-mV53Duqc
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🔔 MARKET MOVING NEWS! (10/02/24)
1️⃣ EigenLayer Hits Nearly $6 Billion TVL As Its Uncapped Deposits Window Draws To A Close 📈
According to DeFiLlama, restaking protocol EigenLayer’s TVL has surged to nearly $6 billion over the past few days following the temporary lifting of its deposit caps. Notably, the removal of EigenLayer’s TVL caps came to a close at 3 p.m. ET yesterday. EigenLayer’s new TVL places it among the top five DeFi protocols by TVL, ahead of leading DEX Uniswap and behind only Lido, Maker, Aave and JustLend.
Source
2️⃣ New York Attorney General Triples Estimated Size Of Alleged Fraud In Case Against DCG 🔍
Just a day after Genesis Global Holdco settled the New York State Office of the Attorney General’s (NYAG) case surrounding the Gemini Earn program, New York Attorney General Letitia James has expanded the state's lawsuit against Digital Currency Group and tripled the estimated size of alleged fraud to more than $3 billion.
NYAG stated,
While the initial suit focused largely on the losses of retail investors participating in the Gemini Earn investment program, as more complaints have been made, it became clear that the complicated nature of the fraud also swindled other investors who contributed their money directly to DCG’s affiliate Genesis.
🔔 MARKET MOVING NEWS! (09/02/24)
1️⃣ Ethereum Mainnet’s Dencun Upgrade Gets a Date ☄️
During a bi-weekly coordinating call on Thursday, Ethereum’s core developers set a target date of March 13 for its long-awaited Dencun upgrade. Notably, the Dencun upgrade is primarily known for its "proto-danksharding" feature - a process that will reduce costs for transactions on auxiliary "layer-2" networks built atop Ethereum by streamlining how data is verified on these networks.
Source
2️⃣ Do Kwon Wins Second Chance to Appeal Extradition From Montenegro ❓
Terraform Labs co-founder Do Kwon has reportedly won a second appeal against the Montenegro High Court's decision to uphold extradition requests from the U.S. and South Korea. Notably, the new ruling has annulled the previous decision of the High Court in Podgorica dated Dec. 29, 2023, returning the case to the first instance to the court for retrial and decision. This will allow Kwon the chance to postpone or even reject any potential extradition to the U.S. or South Korea.
Source
3️⃣ Polygon Develops Open-Source Prover, Allowing Ethereum Chains To Become ZK Layer 2s 🚀
Polygon Labs, the developer behind the Polygon blockchain, has reportedly developed a new Type 1 prover allowing ecosystem chains like optimistic rollups to unlock zero-knowledge proof (ZK-proofs) layer-2 functionality.
The Polygon team claimed the release was a major breakthrough, a technological feat that even Ethereum co-founder Vitalik Buterin has proclaimed as key to making auxiliary layer-2 networks nearly equivalent to the base blockchain. The Type 1 prover is dual licensed under MIT and Apache 2.0 and will be available on GitHub.
Polygon co-founder Brendan Farmer explained,
A Type 1 prover is kind of the final form of a zkEVM. It allows us to take any existing chain, whether it’s the Ethereum layer 1, an optimistic rollup or an alternative L1, we can upgrade that into zkEVM L2 that can connect trustlessly to Ethereum and Polygon’s aggregation layer and participate in the Polygon ecosystem.
We are greatly concerned by the Commission’s conduct in this case. It is unconscionable that any federal agency—especially one regularly involved in highly consequential legal procedures and one that, under your leadership, has often pursued its regulatory mission through enforcement actions rather than rulemakings—could operate in such an unethical and unprofessional manner.
Over time, we have seen bitcoin become an increasingly more distributed network in terms of the number of holders and their coins. It could become an issue if too much BTC ends up becoming highly concentrated in any one country or company, but even with the likes of MicroStrategy and these ETFs, the concentration of coins held by these entities is not a risk to the Bitcoin Network.
🚨 New Video Alert!! 🚨
It’s been a while since we’ve looked at what the Fed has been up to. As you might have noticed, its recent press conference caused quite a stir in stocks and crypto – the perfect excuse for an analysis!
In all seriousness, there seems to be a paradigm shift of sorts happening when it comes to interest rates. A passing of the baton from the central bank to the government. It sounds crazy, but it seems to be true.
If it is, then it could mean that the markets will continue to rally even if the Fed keeps interest rates higher for longer. That’s because there are technically two types of interest rates at play.
This is a video you need to watch until the end!