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🔔 MARKET MOVING NEWS! (10/07/24)
1️⃣ German Bitcoin Wallets Transfer $344 Million to Exchanges, OTC Desks 💸
According to on-chain analytics platform Arkham Intelligence, crypto wallets connected to the German government have moved approximately $344 million worth of BTC to exchanges and over-the-counter desks this morning. Specifically, the BTC transfer is split as follows: $44 million to Kraken, $29 million to Coinbase, $66 million to Amsterdam’s Flow Traders, $31.5 million to Chicago's Cumberland DRW and $132 million to a still unidentified wallet in two transactions. Arkham tweeted yesterday that the unidentified wallet is likely an over-the-counter desk or depository institution.
Source
2️⃣ Ether ETF Fee Race Begins as Invesco Reveals 0.25% Charge, Slightly Higher Than VanEck 🕯
In an amended filing to the United States Securities and Exchange Commission, asset managers Invesco and Galaxy revealed that they will charge investors a 0.25% management fee for the Invesco Galaxy Ethereum ETF (QETH) if and when it is rolled out. Notably, this is slightly higher than VanEck’s 0.20%, disclosed last month. Issuers use management fees to pay for the maintenance of a fund, such as marketing costs, salaries and custodial services. Most issuers for the spot bitcoin ETFs picked a fee between 0.19% and 0.30% which will likely be the case for their ether counterparts.
Source
3️⃣ Worldcoin Foundation Launches World Chain Developer Preview Ahead Of Mainnet ⚡️
The Worldcoin Foundation has reportedly launched a developer preview for its upcoming Layer 2 network, World Chain. The World Chain developer preview allows a limited number of developers to start exploring, building, testing and providing feedback on World Chain before its mainnet launch which is expected later this summer.
World Chain is leveraging Optimism’s OP Stack to build out its own network. Speaking on the upcoming launch, Optimism Unlimited Chief Growth Officer Ryan Wyatt stated,
We're beyond excited to have Worldcoin, one of the largest projects in our space, build World Chain using Optimism's OP Stack, joining the Superchain and working alongside other core development groups to push the OP stack forward while contributing sequencer revenue to the Optimism Collective. The launch of World Chain’s developer preview marks a significant step forward, enabling Worldcoin’s developers to leverage the power of the OP Stack to build ambitious applications, further enhancing the Superchain's impact.
We chose to build on the Polygon ecosystem for its EVM compatibility, seamless availability of liquidity from EVM chains via AggLayer, comprehensive deployment support, and Polygon's EVM expertise. The vibrant community surrounding Polygon was also a crucial factor in our decision.
https://www.youtube.com/watch?v=dR30oIJJtBw
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🔔 MARKET MOVING NEWS! (09/07/24)
1️⃣ Trump Pledges to Protect Bitcoin, End 'Un-American' Crackdown in Republican Platform ‼️
In a document released Monday by the Republican National Committee, the Republican Party set out its goals for crypto and artificial intelligence technology. These plans include ending what it sees as the “crypto crackdown” by the current party in power.
The document states,
Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.
Much like BTC and ETH, the Exchange believes that SOL is resistant to price manipulation and that 'other means to prevent fraudulent and manipulative acts and practices' exist to justify dispensing with the requisite surveillance sharing agreement.
https://www.youtube.com/watch?v=JzQz5cQoyPU
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🔔 MARKET MOVING NEWS! (08/07/24)
1️⃣ Japan's Metaplanet Scoops More Bitcoin Amid Sluggish Economic Growth 💸
Metaplanet, a publicly listed Japanese investment adviser, has reportedly bought an additional 42 BTC valued at 400 million yen ($2.4 million). Notably, the latest purchase has brought the company’s total BTC holdings to 203 BTC. Metaplanet's purchase comes as the asset experiences selling pressure from several large entities, including the German government. It also comes at a time when Japan continues to grapple with decades-long economic challenges.
Source
2️⃣ Pancake Bunny Hacker Siphons $2.9M Of Ether Through Tornado Cash ❓
The hacker behind the exploit of the Pancake Bunny protocol has reportedly moved part of the stolen funds through the privacy protocol Tornado Cash after three years of dormancy. Notably, BNB Chain-based DeFi protocol Pancake Bunny suffered a flash loan attack and lost roughly 697,000 BUNNY tokens and 114,000 BNB in May 2021.
Source
3️⃣ Germany Moves Another $28 Million in BTC to Bitstamp, Coinbase ▶️
According to on-chain intelligence platform Arkham Intelligence, a crypto wallet connected to the German Government transferred a total of 500 BTC (worth about $27.9 million) to Bitstamp and Coinbase at 14:48 UTC+8 today. It also transferred 500 BTC to the unmarked address “139Po.”
Source
4️⃣ Solana $1M Bug Bounty For Solana Firedancer Client Goes Live This Week 💰
Jump Crypto has announced the launch of a $1 million bug bounty program for its upcoming “Firedancer” - a new independent validator client expected to improve Solana’s network performance. The bug bounty program will run for 42 days on the Immunefi platform, starting on July 10 and ending on August 21. Participants can tap into a $1 million rewards pool with the maximum payout for a single bounty at $1 million, paid in USDC. The development of Firedancer v.0.1 was led by pseudonymous engineer Cantelope Peel of Jump Crypto.
Source
5️⃣ Canada To Sanction Liquitrade For Securities Act Violation 🥶
A panel set up by the British Columbia Securities Commission (BCSC) has reportedly found LiquiTrade guilty of running an illegal exchange in Canada. The BCSC panel found that LiquiTrade enabled users to trade contractual rights of underlying crypto assets considered derivatives investments. It stated that LiquiTrade was required to be registered under the Securities Act before it could legally facilitate contract trading in Canada, specifically British Columbia. Upcoming sanctions on LiquiTrade could range from monetary penalties to a ban on services.
Source
6️⃣ Golem Sends Over $100 Million Worth Of ETH To Exchanges In The Past Month 🔍
Golem, one of the earliest Ethereum ICOs, has reportedly sent over $100 million in ETH to exchanges over the past month. Notably, this represents a significant portion of the funds raised by the project during its ICO in November 2016. In just the last three days, 26,000 ETH (worth about $79 million) left Golem’s main wallet. Data from Etherscan shows that the project still has 126,000 ETH in reserve (worth about $383 million).
Source
🚨 New Video Alert!! 🚨
Every now and then we come across something significant that the markets seem to be ignoring. Today’s video is about one of those things: a potential debt crisis, specifically in the UK and France.
What’s crazy is that this debt crisis could be partially planned. That’s because central banks have become the largest bond holders for most governments. This gives them lots of political power.
Obviously, some governments can keep their central banks in check. For others, however, this is not possible, and it paints a terrifying picture for countries that are trying to achieve political change.
This is one of the most important videos you will ever watch.
🔥 Rally Report 🔥
NOTCOIN
The price of NOT has rallied by 55% in the past 24 hours.
WHY?!
📈 NOT’s recent rally is likely a sign of bullishness about the future of Telegram-based mini games. Notably, this comes after Hamster Kombat released fresh details about its upcoming token airdrop scheduled for some time this month.
⚡️ The Notcoin team also recently announced that the project was launching an accelerator program for other Telegram-based mini-games.
If you want to buy or trade NOT, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🔥 Rally Report 🔥
DOGWIFHAT
The price of WIF has rallied by 14% in the past 24 hours.
WHY?!
📈 Part of a larger market rally.
⚡️ The recent rally seems to be led by the most popular projects falling within the AI, memecoin, metaverse and proof-of-work narratives
If you want to buy or trade WIF, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
https://www.youtube.com/watch?v=xknr8V2wR3g
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🔔 MARKET MOVING NEWS! (04/07/24)
1️⃣ Crypto Market Sees $295 Million In Liquidations Across Exchanges Over Past 24 Hours 🔽
According to data from Coinglass, centralised exchanges saw over $77 million in BTC long liquidations in the past 24 hours. The broader cryptocurrency market also saw over $295 million in liquidations on centralised exchanges, with around $259 million in long positions. Ether also faced significant liquidations, with over $71 million liquidated — of which $62 million were long positions.
Source
2️⃣ Basel Committee Approves Disclosure Framework for Crypto Exposures ‼️
The Basel Committee on Banking Supervision, the primary global standard setter for prudential banks, has reportedly approved a disclosure framework for banks' exposure to crypto assets. The framework requires banks to disclose qualitative information on their crypto activities and quantitative information on their exposure to crypto. The disclosure framework is expected to be implemented by the start of 2026.
Source
3️⃣ German Government Transfers $172M In Bitcoin To Multiple Locations 💸
A crypto wallet linked to the German government has reportedly transferred 3,000 BTC (worth $175 million) to various addresses. Of the 3000 BTC, the German government transferred 1700 BTC to an unidentified address starting with "139Po," while 500 bitcoins were sent to Bitstamp, 400 bitcoins to Coinbase, and 400 bitcoins to Kraken. This is the latest in a series of transactions made by the German government, indicating a potential intention to sell the assets. The government currently holds 40,359 bitcoins, worth about $2.32 billion.
Source
4️⃣ Consensys Acquires Wallet Guard To Help Protect Metamask Users Against Hacks And Scams 💰
MetaMask wallet developer Consensys has reportedly acquired the crypto security app Wallet Guard. The acquisition aims to integrate Wallet Guard’s advanced security features into MetaMask to improve user protection within Web3. The integration will reportedly improve drainer detection via transaction validation and client-side heuristics, providing users with real-time protection against malicious dapps and scams. Notably, the acquisition follows Consensys' integration of Blockaid security alerts into MetaMask earlier this year.
Source
5️⃣ The SEC Is Now Going After Crypto VCs, Says BlockTower Capital Founder 🔍
In a recent episode of the Unchained podcast, BlockTower Capital’s chief investment officer Ari Paul revealed that the US Securities and Exchange Commission has launched a “bunch of investigations” targeting crypto venture capital firms for “acting as unregistered securities dealers.” The development marks the latest escalation in the SEC’s crackdown on the digital assets industry.
Source
https://www.youtube.com/watch?v=4kVDtK0s_WU
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🔔 MARKET MOVING NEWS! (03/07/24)
1️⃣ Ethereum Will Outperform Bitcoin After ETF Launch — K33 Research 📈
In a report published yesterday, K33 analysts Vetle Lunde and David Zimmerman state that the launch of spot Ether exchange-traded funds (ETFs) could see the price of ETH outperform BTC in the weeks after they go live in the United States. Specifically, the analysts note that Bitcoin is set to face selling pressure from $8.5 billion worth of BTC being returned to creditors of collapsed exchange Mt. Gox starting this week. Lunde and Zimmerman also state that it’s reasonable to expect the price of ETH to “stumble immediately following the launch of the ETFs” but noted that inflows to the spot funds would likely bolster ETH’s price.
Source
2️⃣ Sydney Sweeney's Twitter Account Hacked to Pump Yet Another Meme Coin Scam ‼️
Actress Sydney Sweeney's Twitter account appeared to have suffered another crypto-related Twitter hack on Tuesday afternoon. Notably, this is the second time the account was hacked this year. The hackers used her account to promote a Solana meme coin, SWEENEY, which attracted $13 million in trading volume within an hour. The creators of the SWEENEY token's Telegram account admitted to hacking Sweeney's account and claimed responsibility for hacking other celebrities as well.
Source
3️⃣ Binance Executive 'Suffering Immensely' in Nigeria While Authorities Withhold Health Records 🥶
The family of Tigran Gambaryan, a senior executive at Binance being held in a Nigerian jail, said he is “suffering immensely” as the country’s prison officials refused to release health records despite court orders. Gambaryan’s family stated that his health has continued to deteriorate in detention and that he has complained of numbness in his foot as well as back pain. He has had double pneumonia and malaria while in prison.
Source
4️⃣ Bittensor Halts Network After Reported Security Attack On Wallets: ZachXBT ▶️
Decentralised AI project Bittensor has reportedly halted its blockchain network after receiving reports of an unusual attack on Bittensor wallets, potentially involving leaked private keys. According to on-chain sleuth ZachXBT, $8 million worth of TAO was stolen today. All transactions have been paused to prevent further unauthorised access while the team conducts an investigation.
A Bittensor community Discord administrator stated,
We are investigating what appears to have been an attack on a number of Bittensor wallets over the last 3 hours. We are investigating, and in an abundance of caution, have recently fully halted transactions on-chain until there is more information available to us about the nature of this attack.
Domestic major exchanges have been applying key criteria of the best practices pre-emptively since late 2023. Thus, the likelihood of large-scale delistings occurring all at once is low.
🚨 New Video Alert!! 🚨
It’s a critical moment for Ethereum. By the time you read this message, the spot Ethereum ETFs will be live or close to it. This begs the question of what comes next for ETH.
To find the answer, we need to get a sense of what Ethereum has been up to recently. It’s been half a year since our last proper Ethereum update, so it’s safe to say that a lot has happened since then.
Taken together, these factors suggest that the spot Ethereum ETF listings could result in serious volatility for ETH. We take a close look at exactly how high or low ETH could go in either scenario.
This is a video every ETH holder needs to see!
🔥 Rally Report 🔥
BONK
The price of BONK has rallied by 11% in the past 24 hours.
WHY?!
🎙 The official Bonk X account announced that it was hosting a treasure hunt in collaboration with Helio Pay at the London Solana Hacker House. Participants reportedly stand to win 69 million BONK tokens.
❓ The treasure hunt ends on July 5th. Until then, they must physically visit and click pictures at nine locations all over London to get 69 entries for the 69 million BONK grand prize. Participants also reportedly have a chance to win merch, beer, food, and more BONK.
If you want to buy or trade BONK, we have an exclusive $60K 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!! 🚨
It’s been a long week, and it’s about time we summed it up. There’s no shortage of stuff to talk about, and the biggest story is one you may have missed: the spot Ethereum ETFs have been delayed.
It’s funny that the SEC just happened to have sued Consensys just before this, and also ironic that asset managers are simultaneously filing for spot Solana ETFs. Meanwhile, BTC is starting to look very bearish.
Besides ongoing BTC sales from governments, it looks like Mt. Gox creditors will soon be getting their long lost sats. For what it’s worth, a few cryptos managed to rally despite these dismal conditions.
Be sure to stick around until the end to find out where they’re headed next!
🔥 Rally Report 🔥
SEI NETWORK
The price of SEI has rallied by 9% in the past 24 hours.
WHY?!
⚡️ The team announced that Sei v2 mainnet beta is now live and available to everyone.
⚡️ Notably, this comes after Sei’s v2 devnet in February and v2 alpha in June.
If you want to buy or trade SEI, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🚨 New Video Alert!! 🚨
Crypto winter: is it a thing of the past?
For degens in the trenches staring at the BTC chart all day, the answer is “duh”. However, for the venture capitalists bankrolling this industry, it’s not quite so clear cut. While the crypto market has recovered from the train wreck of 2022, VC activity has not.
But now, after almost two years of falling investment, crypto VCs are finally showing signs of life again.
This begs the question: is this the reversal that will bring VC billions flooding back into crypto? And if so, just how much? And what are they bidding now, anyway?
Today, we have all the answers.
🔥 Rally Report 🔥
BONK INU
The price of BONK has rallied by 11% in the past 24 hours.
WHY?!
📈 BONK’s recent rally comes after the recent conclusion of its event at the London Solana Hacker House.
🤔 The Bonk team also teased an upcoming partnership with altcoin derivatives trading app Flipster.
If you want to buy or trade BONK, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🚨 New Video Alert!! 🚨
Weekly crypto review? We got you. It’s safe to say it’s been a crazy time for the markets. For what it’s worth, it’s possible that BTC could have hit a local bottom and that ETH could surprise to the upside.
In fact, it’s possible that the entire crypto market could see an epic recovery led by altcoins. This is likely if we start to see pro-crypto regulations getting passed, something that could start as soon as this week.
Not only that, but there seem to be positive developments on the macro front as well. The conflicts in the Middle East and Eastern Europe seem to be wrapping up, which could be bullish for the markets.
Enjoy!
https://www.youtube.com/watch?v=TZISgar_Ooc
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🔔 MARKET MOVING NEWS! (07/07/24)
1️⃣ Tron Develops Gas-Free Stablecoin For Ethereum And Tron Chains 🤔
Tron founder Justin Sun has revealed that his team is developing a stablecoin that users can transfer back and forth without paying gas fees. The stablecoin will reportedly launch first on the Tron blockchain, and later on Ethereum and other EVM-compatible public chains.
Sun’s post reads,
We anticipate launching this service in Q4 of this year. I believe that similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain, elevating blockchain mass adoption to a new level.
Efforts are being made at the federal level to ensure standards and safeguards are in place to protect consumers, investors and businesses that may want to make monetary transactions in digital assets and North Carolina should wait to see how they work before taking action. This legislation is premature, vague and reactionary and proposes an end result on important monetary decisions that haven’t even been made yet. Instead of this bill, the legislature should have passed a budget to provide more funding for cybersecurity threats that actually exist now.
🔔 MARKET MOVING NEWS! (06/07/24)
1️⃣ 3AC Wallet Buys NFT Due To Bid Placed Three Years Ago Missed By Liquidators ‼️
A wallet associated with failed crypto hedge fund Three Arrows Capital (3AC) purchased an NFT on July 5th for 20 ETH (worth $59,821) due to a bid that the wallet placed three years ago and never cancelled. Specifically, the 3AC wallet placed a bid of 20 ETH for the “Neon Village” NFT from the “Ninja Village” collection by artist SeerLight on Aug. 21, 2021. This is less than a year before the former hedge fund filed for bankruptcy. That bid was accepted on Friday by its prior owner, “anonymoux,” who originally bought it for 100 ETH ($348,700) in October 2021. Liquidation firm Teneo, which is managing the liquidation of the 3AC estate, appears to have missed the bid, allowing it to be accepted despite the firm’s ongoing bankruptcy process.
Source
2️⃣ Bitfinex To Refund Investors Of Its Failed El Salvador Hilton Hotel Project 🔍
Digital asset platform Bitfinex Securities has announced that it will refund investors of its Hilton hotel venture at El Salvador’s international airport after it failed to attract the $500,000 minimum funding needed to continue. The project is the first public offering of digital debt assets in El Salvador. However, it only managed to raise $342,000 before the first deadline — barely 5% of the $6.25 million it was looking to raise.
Source
3️⃣ Multicoin Pledges up to $1M for Pro-Crypto Senate Candidates 💰
Blockchain investment firm Multicoin Capital is planning to donate up to $1 million to support pro-crypto Republican lawmakers. The firm said it would match every SOL donated up to $1 million over the next 10 days through The Sentinel Action Fund, a conservative super-political action committee. Specifically, the investment manager plans to financially support four Republican candidates – Sam Brown in Nevada, David McCormick in Pennsylvania, Bernie Moreno in Ohio and Tim Sheehy in Montana.
Kyle Samani, managing partner at MultiCoin Capital stated,
We’re doing this because we realise that political engagement matters, and it starts with supporting the candidates who believe America needs to remain free for innovation. By making contributions, we’re giving Sentinel Action the tools to increase the number of pro-crypto senators like BillHagertyTN — an innovator who understands and speaks our language.
🔔 MARKET MOVING NEWS! (05/07/24)
1️⃣ U.S. Nonfarm Payrolls Data Released ⚡️
The U.S. announced that the seasonally adjusted non-farm payrolls increased by 206,000 in June, compared with 272,000 in the previous month and 190,000 expected. The unemployment rate rose to 4.1% in June, compared with 4% in the previous month and 4% expected. The last time unemployment was above 4% was in November 2021, when the rate was also 4.1%. Notably, labour market weakness is expected to be bullish since this makes it more likely that the Fed will consider lowering interest rates, which increases the attractiveness of risk assets like stocks and crypto.
Source
2️⃣ Mt Gox Creditors May Have To Wait For Up To Three Months To Receive Their Bitcoin 💸
Earlier today, defunct crypto exchange Mt Gox announced that it had started making repayments to customers. The announcement comes after on-chain intelligence firm Arkham Intelligence reported that Mt. Gox had transferred 47,229 Bitcoin (worth $2.71 billion) to a new wallet address in its first major transaction since May.
While the process has been initiated, Mt Gox creditors may have to wait up to three months to receive their Bitcoin or Bitcoin Cash repayments. Specifically, the document states that the timeline for repayments varies depending on the exchanges, with Kraken taking up to 90 days, Bitstamp taking up to 60 days, BitGo taking up to 20 days, and SBI VC Trade and Bitbank completing payouts within 14 days.
Source
3️⃣ Crypto Exchanges Subject to EU Travel Rule In 6 Months 🤔
The European Banking Authority (EBA) has announced that it will be extending the Travel Rules guidelines to crypto service providers and their intermediaries from Dec. 30th. Notably, the travel rules mandate reporting information on transfers of funds and crypto assets. As a result, crypto asset service providers (CASPs), as defined in the EU’s MiCA regulation, will be subject to the EU’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime.
Source
4️⃣ Crypto Exchange KuCoin Adds 7.5% Tax for Nigeria Users, Citing 'Regulatory Update' ‼️
On Wednesday, crypto exchange KuCoin announced it would begin charging Nigerian users a value-added tax (VAT) on transactions. Specifically, the new VAT charges would be implemented starting July 8th at a rate of 7.5% on transaction fees in each trade. The exchange cited a “regulatory update” in the email it sent to customers. The tax reportedly applies to “all transaction types on the KuCoin platform.”
Source
🚨 New Video Alert!! 🚨
Let's be honest, the last few weeks and months in crypto have been all over the place. So much so, that getting a grip on what’s going on is easier said than done.
So, when a crypto exchange releases a report that sums up exactly that, it’s safe to say that we should all be paying attention. That’s because out of any entity out there, it’s exchanges that will have their finger on the pulse before anyone else.
As it happens, one of the largest exchanges out there, Kucoin, has released their monthly crypto research report for June 2024. It reveals that there’s been a LOT happening lately, so we thought it’s high time we summarise this report for you guys, and tell you what this could all mean for the market.
So, grab your popcorn, fire up that like button, sit back and enjoy!
🔥 Rally Report 🔥
MANTRA
The price of OM has rallied by 8% in the past 24 hours.
WHY?!
☄️The Mantra Chain announced that it will tokenise $500 million worth of real estate assets of Dubai-based real estate developer MAG Group. The assets will be tokenised in multiple tranches, with the first tranche including a residential project and a $75 million mega-mansion.
💰 Investors will earn yield through stablecoins and Mantra's OM token. They are expected to receive yields of 8% from the stablecoins and be granted additional OM tokens. The specifics of the yield, such as the stablecoin to be used and the amount of OM to be allocated, are still under discussion.
If you want to buy or trade OM, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as a 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🚨 New Video Alert!! 🚨
Back in 2021, El Salvador made Bitcoin legal tender. It was a monumental moment in Crypto’s history, and marked the dawn of a new era.
Since then, many people have been speculating about which central bank will be next in line to start holding crypto as a reserve asset, and if - or when - they’ll do it. And, if they do begin hoarding BTC, will they also look to buy up other cryptocurrencies while they’re at it?
Today’s video takes a hard look at just that. We’ll discuss why central banks have crypto on their radars, why they could hold BTC, altcoins that could be considered, and what this could all mean for the crypto market.
We’ll see you at the like button. Enjoy!
https://youtu.be/8cP_m0LrnNE?si=luLx9lwSi8uobgWl
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🔔 MARKET MOVING NEWS! (02/07/24)
1️⃣ Roaring Kitty Fraud Lawsuit Over GameStop Dropped After 3 Days 🤔
Martin Radev, who recently filed a class action lawsuit against Keith Gill (aka Roaring Kitty) over alleged securities fraud, has reportedly dropped his lawsuit just three days after filing it.
Radev submitted a voluntary motion to dismiss in the United States District Court for the Eastern District of New York. While it remains unclear why the lawsuit was dropped so quickly, it appears the suit was dropped “without prejudice.” This means that Radev can file a similar lawsuit again in the future.
Source
2️⃣ Circle Snags First Stablecoin License Under EU's New MiCA Crypto Rules ‼️
Stablecoin issuer Circle has reportedly secured an Electronic Money Institution (EMI) license under the Markets in Crypto Assets (MiCA) regulatory framework. Notably, this makes Circle the first global stablecoin issuer to gain regulatory approval under the European Union's MiCA regulatory framework.
Circle CEO Jeremy Allaire announced that, effective immediately, the firm’s USDC and EURC stablecoins are regulatory compliant under the new rules. Allaire then announced that Circle chose France as the company’s European headquarters citing France’s forward-looking stance on digital asset regulation and Circle’s working relationship with the French Prudential Supervision and Resolution Authority.
Source
3️⃣ DOJ's US Marshals Service Chooses Coinbase to Custody Crypto Assets ☄️
The U.S. Marshals Service (USMS), a division of the U.S. Department of Justice, has reportedly awarded Coinbase Prime a contract to manage and dispose of its large-cap cryptocurrency assets. Notably, this includes custody of crypto seized by the Department of Justice. This decision comes after a bidding process initiated earlier this year. The contract is structured as a single-award Indefinite Delivery/Indefinite Quantity (IDIQ) agreement with an initial ordering period of five years, with the possibility of a six-month extension.
Source
4️⃣ Ethereum Products See Highest Outflows Since 2022 Ahead of Ether ETFs 🕯
According to a CoinShares report that was published yesterday, investors withdrew over $120 million from ETH-tracked exchange-traded products in the past two weeks. Notably, this records the highest outflow since August 2022 and has made Ether funds the worst-performing asset year-to-date in terms of net flows. The outflows come as Ether ETFs are close to becoming available for trading in the U.S. after the Securities and Exchange Commission (SEC) approved applicants' filings last month. Conversely, multi-asset and Bitcoin ETPs led the inflows with $18 million and $10 million respectively.
Source
5️⃣ Evolve Bank Leak Has Personal Data Of Bitfinex, Copper Banking, Nomad Users ‼️
According to a Protos report, crypto-friendly bank Evolve Bank has known about the ‘data leak,’ it notified users of last week, for over a month. Specifically, it admitted that 33 TB of user data was stolen a month ago by a Russian ransomware gang Lockbit after an employee accidentally clicked a malicious link.
The data reportedly comes from 155,586 accounts linked to firms including Bitfinex, Nomad, and Copper Banking. The stolen data included personally identifiable information (PII), such as name, address, social security and tax ID number, date of birth, account balance, and email address. The bank claims it stopped the attack ‘within days’ and hasn’t seen any more unauthorised activity since May 31.
Source
6️⃣ Bahamas Plans Regulations For Banks To Distribute Sand Dollar CBDC: Report ❓
The Bahamas’ central bank is reportedly developing regulations that would require commercial banks to offer access to the ‘Sand Dollar’ - its central bank digital currency. John Rolle, the Bahamas' central bank governor, stated that the regulations are an attempt to boost the adoption of the Sand Dollar, which remains limited.
Source
https://www.youtube.com/watch?v=4CLPYNbhDyU
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🔔 MARKET MOVING NEWS! (01/07/24)
1️⃣ Metaplanet Buys Another $1.2M Worth of Bitcoin as Investment Strategy Progresses 💸
Metaplanet, a publicly listed Japanese investment adviser, has reportedly spent $1.2 million to buy 20.2 BTC. The recent investment has taken its total holdings to 161.3 BTC and is part of a $6 million strategy to boost BTC holdings in its treasury.
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2️⃣ Tether Forms Partnership That Allows Filipinos to Adopt Tether’s USDT For Social Security Payments 🤝
Stablecoin issuer Tether has reportedly partnered with Uquid, a decentralised business infrastructure platform, to allow Filipinos to pay social security funds with USDT on the TON blockchain. The Social Security System of the Philippines is a state-run social insurance program that provides services to employees in the official, informal and private sectors. Uquid said the partnership with Tether highlights how stablecoins like USDT and “crypto in general can simplify and enhance our daily lives.”
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3️⃣ Sony Gets Ready To Launch Crypto Exchange In Japan With Acquired Amber Platform ⚡️
Sony is reportedly preparing to launch a crypto exchange subsidiary by rebranding and revamping the local trading platform WhaleFin, which it acquired from crypto lender Amber Group last year. The subsidiary, named S.BLOX Co., will collaborate with Sony Group's other businesses to generate additional value for its crypto trading services. The revamp includes a redesign of the user interface and the introduction of a new mobile app for easier use.
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4️⃣ Hawaii Crypto Firms No Longer Need MT License, Regulator Rules ▶️
According to an official statement published on June 28, digital currency companies will no longer require the state's money transmitter license to conduct business within the state. The Hawaii Department of Commerce and Consumer Affairs stated that companies will be able to “continue transaction activity as an unregulated business.” However, it also noted that crypto companies will still be responsible for complying with any applicable federal licensing or registration requirements. Such requirements will include those set forth by the Financial Crimes Enforcement Network, the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
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5️⃣ Polymarket Monthly Volume Hits $100M As Presidential Race Heats Up 📈
Decentralised predictions platform Polymarket has reportedly hit $100 million in monthly trading volume in Jun. Notably, the spike in monthly trading volume comes as bettors upped their stakes on how they think the United States presidential election will play out. The platform shows that there is $203.3 million worth of bets in “Presidential Election Winner 2024.” Former President Donald Trump appears to be the current favourite, with 62% odds that he will win the U.S. election, with a total of $24.7 million in bets for and against him.
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6️⃣ Roaring Kitty Faces Securities Fraud Claims In ‘Doomed’ GME Lawsuit 🤔
Stock trader Keith Gill, aka Roaring Kitty, is reportedly facing securities fraud claims in a class-action lawsuit filed over a recent spate of social media posts that saw the price of GameStop stocks whipsaw violently between May and June. The complaint accuses Gill of orchestrating a “pump and dump” scheme for personal gain with a series of cryptic social media posts beginning May 13. While the outcome of the lawsuit remains to be seen, former federal prosecutor Eric Rosen believes the lawsuit is likely “doomed” to fail. Rosen stated that the lawsuit’s main claim (that Gill should have disclosed his intent to sell his options) would not hold up well in court, as no “reasonable person, let alone a reasonable investor,” would expect Gill to hold onto all of his calls until the exact time and date of their expiry.
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