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🔔 MARKET MOVING NEWS! (07/09/24)
1️⃣ Bitcoin Pumps, Then Dumps Below $54K as Jobs Report Spurs Crypto Volatility 🕯
The U.S. nonfarm payrolls report released yesterday resulted in the crypto market experiencing volatile price action, starting with a brief rally immediately after the announcement and then a quick reversal which sent BTC to its lowest price in a month. Data from Coinglass shows the price swing triggered nearly $50 million in liquidations in just one hour on crypto derivatives markets. The jobs report showed the U.S. added 142,000 jobs in August, which was slightly lower than analyst forecasts. It also reported that the unemployment rate fell to 4.2% from July's 4.3%, falling in line with analyst forecasts.
Source
2️⃣ VanEck To Shutter Ethereum Futures ETF As Investors Shift To Spot ETHV 🔽
Asset manager VanEck is reportedly closing and liquidating its futures-based ETH ETF (EFUT) due to insufficient demand following the approval of VanEck's spot Ethereum ETF (ETHV). EFUT shareholders have until market close on Sept. 16 to sell their shares. After that time, EFUT shares will be de-listed and those who still hold them will have their holdings liquidated on Sept. 23 for a cash amount equivalent to the value of their shares.
Source
3️⃣ Ripple Co-Founder Signs Letter Endorsing Harris For President ✍️
Chris Larsen, co-founder and executive chairman at Ripple, has reportedly signed a letter endorsing Vice-President Kamala Harris for president. The letter was also signed by 87 other corporate leaders, including the likes of 21st Century Fox CEO James Murdoch and Snap chairman Michael Lynton.
The letter reads,
With Kamala Harris in the White House, the business community can be confident that it will have a president who wants American industries to thrive. Vice President Harris has a strong record of advancing actions to spur business investment in the United States and ensure American businesses can compete and win in the global market.
Australian asset manager Monochrome Asset Management has reportedly filed an application to list the Monochrome Ether exchange-traded fund (IETH) on Cboe Australia. Notably, IETH is the country’s first Ether exchange-traded fund to hold the asset directly. Jeff Yew, CEO of Monochrome Asset Management, has stated that he is confident of a "positive outcome" and that he expects strong interest in the Ether ETF.
Yew also stated that Australia’s comparatively "less restrictive" approach to crypto assets has resulted in "dozens and dozens of crypto exchanges” offering services to retail investors and some professional investors for the better part of a decade. He noted that a lot of the crypto assets previously held on exchanges are “now being funnelled into a regular structure like an ETF.” He stated that this places Australia “on a very different trajectory with ETFs" with a “bigger pie to carve out" compared to the rest of the world.
Source
https://www.youtube.com/watch?v=FU3flwRui-0
Читать полностью…
In a recently posted X thread, World Liberty Financial, the crypto project backed by former President Donald Trump, announced that its DeFi platform seeks to maintain global U.S. dollar supremacy through the use of stablecoins. It also stated that security will be a top concern for the protocol.
Part of the X thread states,
Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralised finance. We believe that DeFi is the future, and we’re committed to making it accessible and secure for everyone […] We want U.S.-pegged stablecoins to remain the world’s settlement layer for the next 100 years. The U.S. dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states. By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage.
🔥 Rally Report 🔥
DOGS
The price of DOGS has rallied by 10% in the past 24 hours.
WHY?!
📈 It appears to be a temporary recovery rally following seven days of negative price action.
❓ The recovery also appears to be aided by a recent positive announcement made by the project. Notably, the team announced that the on-chain distribution of the DOGS airdrop has almost completed.
If you want to buy or trade DOGS, 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!! 🚨
Everyone has been excited about the massive wads of cash being thrown at the Spot Bitcoin ETFs, since long before they were ever given the green light by the SEC. Crypto enthusiasts everywhere were wondering where this money would be flowing from.
The general consensus was that it would be the institutional investors with the deepest pockets that would be hurling their cash at it. In the first few weeks, this was definitely the case. However, things have since changed, and retail now makes up an overwhelming majority of trading activity.
Today’s video looks at just who is doing all the buying, how expectations have compared to reality, and what this all means for the future of ETFs for other cryptos.
Enjoy!
🔔 MARKET MOVING NEWS! (04/09/24)
1️⃣ Trump Family Members Hacked to Promote Apparent Crypto Scam 🥶
The X accounts of Donald Trump's daughter-in-law Lara Trump and daughter Tiffany Trump were reportedly hacked yesterday evening to promote a token supposedly tied to World Liberty Financial. The attackers appeared to promote an address described as "the only official" blockchain address for World Liberty Financial. Donald Trump’s son Eric Trump later confirmed that the profiles were compromised and the addresses were a scam.
Source
2️⃣ Penpie Protocol Exploited, Suffers $27M Loss 😵
The Penpie protocol, a DeFi protocol built atop Pendle, reportedly suffered an exploit on Wednesday. The attack resulted in the protocol being drained of $27 million in client assets, including various types of staked ether, Ethena's sUSDE and wrapped USDC stablecoin. Onchain sleuths traced the offending transaction back to an address ending in “bb7.” Pendle stated that investors' funds are safe on Pendle, but temporarily paused all contracts as a precautionary measure.
Source
3️⃣ Terra-Linked Galois Capital Lost $40 Million on FTX—Now It Must Pay the SEC a Fine Too 💰
Galois Capital, the crypto hedge fund that famously warned of the dangers around Terra's LUNA and UST ahead of their 2022 collapse, has reportedly been charged by the U.S. Securities and Exchange Commission for misleading investors and for not properly safeguarding customer funds. Specifically, the SEC called out the firm for using FTX to hold customer assets, a decision which resulted in the firm losing $40 million when FTX filed for bankruptcy. The firm did not admit or deny the SEC's findings but has agreed to settle the charges with the SEC. It will pay the regulator a civil penalty of $225,000, 0, which will be distributed to harmed users.
Source
4️⃣ Matter Labs Trims Workforce By 16% As Demand For Zksync Era Falls ❌
Matter Labs, the main developer behind the Ethereum layer-2 protocol ZKsync, has reportedly laid off about 16% of its workforce. Cofounder and CEO Alex Gluchowski stated that the layoffs are part of a restructuring to meet the needs of a rapidly evolving market.
He stated,
From day 1, Matter Labs embraced the philosophy of being a lean and focused team committed to a singular mission — accelerating the mass adoption of crypto for personal sovereignty. Staying small and focused enabled us to keep a steady pace of impactful innovation, continuously adapting to changes. Our market environment and business needs have changed significantly over the course of this year. We see that many teams building on ZKsync Era now require a different type of technology and support than they had previously. At the same time, we see a big increase in demand for ZK Chains.
North Korean malicious cyber actors conducted research on a variety of targets connected to cryptocurrency exchange-traded funds (ETFs) over the last several months. This research included pre-operational preparations suggesting North Korean actors may attempt malicious cyber activities against companies associated with cryptocurrency ETFs or other cryptocurrency-related financial products.
🚨 New Video Alert!! 🚨
There are lots of promising cryptos out there, but Near Protocol probably isn’t one that comes to mind. This is pretty crazy considering it’s been on the cutting edge of AI and crypto infrastructure.
Recently, the crypto project implemented chain signatures, which basically make it possible to control all of your cryptos from a single wallet regardless of which chain they’re on from the Near blockchain.
This new tech could radically reshape the crypto industry, and yet nobody is paying attention. Everyone is focused on Near Protocol’s AI aspects, which could be enough to take NEAR to new highs.
That’s why today’s video is one you need to watch until the end!
🔥 Rally Report 🔥
ORDI
The price of ORDI has rallied by 14% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen among Bitcoin-related assets, including other assets like SATS and BSV.
🕯 Notably, data from Coinglass shows that ORDI experienced short liquidations totalling $2.38 million yesterday. This is the largest liquidation for the asset since mid-June. These liquidations may have also played a part in boosting ORDI’s price rally.
If you want to buy or trade ORDI, 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/
🚨 Livestream Alert!! 🚨
It’s time for another weekly crypto review!
Today we cover:
- Ready for Rektember?
- New Money Incoming?
- Ethereum FUD Continues
- Trump Projects Launch
- The SEC and Opensea
- Top Gainers in Crypto
Join us LIVE!
https://www.youtube.com/watch?v=yXDq5ypJru8
Читать полностью…
🔔 MARKET MOVING NEWS! (01/09/24)
1️⃣ Hong Kong Accepts Crypto License Application Past Deadline ‼️
The Hong Kong Securities and Futures Commission (SFC) has reportedly accepted a new digital asset exchange license application from Hong Kong Digital Asset Xchange (HKDAEx). This is notable since the deadline to do so was May 31st. According to the regulator's listing, HKDAEx’s application for a digital asset exchange license was submitted on Aug. 27. The application claims that HKDAEx “connects physical assets with digital assets to improve the liquidity so as to raise the value of physical assets and to promote the real economy.” While the application has been placed on record, the SFC may return it if it finds the application incomplete or notices any unresolved fundamental issues.
Source
2️⃣ Yuga Labs CEO Reveals ‘The Workshop’ Team Focused On ApeChain Dapps 🔍
In an X post on Friday, Yuga Labs co-founder and CEO Greg Solano (aka Garga) announced the upcoming release of a line of new products developed by a small internal team at the company called The Workshop. Notably, this is the first major initiative by the company since he took over as CEO in February. Solano stated that The Workshop will be shipping its first products on the upcoming ApeChain in the coming “weeks and months.” The team is focused on driving adoption to the upcoming ApeChain network by focusing on shipping new products quickly and culling the ones that don't find traction.
Source
3️⃣ Bitcoin ETFs Log Monthly Loss, Ethereum ETFs Are Ignored After Outflow Streak 🕯
According to data from SoSoValue, U.S. spot bitcoin ETFs have recorded a red candle for the month of August. Specifically, the ETFs recorded a total net outflow of about $94 million. Aug. 23rd was the best day for the funds this month with the spot bitcoin ETFs netting over $250 million on that day. The worst day for the funds was August 2nd, seeing net outflows of $237 million.
As for the spot Ethereum ETFs, they logged a total cumulative net outflow of $477.25 million since inception. The funds hold a total of almost $7 billion in assets as of the end of the month. Grayscale's two funds, ETHE and ETH, are the largest and hold $5.4 billion of that sum, with the other funds making up the rest of the total.
Source
🚨 New Video Alert!! 🚨
Right now, multiple millions of locked tokens & SAFTs are being traded in the OTC market by whales and institutions.
Some of these are trading at a discount of 50% or more from the open market price. Who are the buyers / sellers of these allocations? And what tokens are they currently buying?
All of these questions were answered in a recent interview we did with an OTC dealer. The interview covered numerous different topics in the OTC market including which tokens or projects you should have on your radar.
Enjoy!
P.S. CBC members have had access to this video for the past 2 days and the feedback has been 🔥
🔔 MARKET MOVING NEWS! (30/08/24)
1️⃣ Millions Lost As Mbappé’s Hacked Account Promotes $460M Crypto Scam 🥶
The X account of soccer star Kylian Mbappé was reportedly hacked and used to promote a Solana-based token with the ticker MBAPPE last night. The hackers used the account to promise a return of “double” any tokens sent to a specific address. This caused the market cap of the MBAPPE token to surge to $460 million before it plummeted to less than $100,000. One lucky trader appeared to have timed the top perfectly, turning $29 into $125,790 in under three minutes. Another trader lost nearly $1 million after he spent 7156 SOL to buy the fake MBAPPE token. The value of their holdings currently stands at just $9200.
Source
2️⃣ Crypto Hackers Stole Half as Much in August as They Did in July, Says Immunefi ❓
According to a recent report from Immunefi, cryptocurrency losses due to hacks and fraud saw a significant decrease in August. Specifically, total losses amounted to roughly $15 million across five incidents in August. This marks the lowest monthly total year-to-date and a 94.5% decrease from July which saw $274 million in assets stolen. Even though we saw year-low losses this month, the year-to-date total for 2024 is $1,210,741,330. These funds were lost to hacks and rug pulls across 154 incidents, a 15.5% increase from the same period in 2023.
Source
3️⃣ El Salvador’s Bukele Says ‘Bitcoin Hasn't Had The Widespread Adoption We Hoped For' 💸
In a recent interview with Time magazine, El Salvador's President Nayib Bukele stated that the country’s adoption of BTC has not met expectations after adopting the cryptocurrency as legal tender. However, he also added that the country's Bitcoin strategy is generally "net positive." He believes that Bitcoin has brought branding, investment and tourism to El Salvador, and its positive impact outweighs the negative impact.
He stated,
The positive aspect is that it is voluntary; we have never forced anyone to adopt it. We offered it as an option, and those who chose to use it have benefited from the rise in Bitcoin. I expected more adoption, definitely, but we always prided ourselves on being a free country, free in every way.
https://www.youtube.com/watch?v=iM1w_18Sxz0
Читать полностью…
🔥 Rally Report 🔥
STARKNET
The price of STRK has rallied by 5% in the past 24 hours.
WHY?!
📈 The rally follows a rise in activity on the Starknet mainnet following the rollout of its version 0.13.2 upgrade which introduced “parallel execution” capabilities to the network. Notably, data from Dune shows that weekly transactions have risen by 18% since the upgrade.
☄️ The rally also comes four days ahead of the first-ever Mainnet governance vote for STRK holders. The voting proposal provides all STRK holders the opportunity to vote on key parameters of staking their STRK tokens, including the minting mechanism and the conditions for changing its parameters.
If you want to buy or trade STRK, 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/
🔔 MARKET MOVING NEWS! (06/09/24)
1️⃣ Skyscanner Integrates With Travala, Enabling Hotel Bookings In Over 100 Cryptocurrencies ☄️
Global travel marketplace Skyscanner has reportedly integrated with blockchain-based platform Travala to offer hotel bookings in over 100 cryptocurrencies. Notably, this marks Skyscanner’s first integration with a crypto-native application. The integration is expected to allow Skyscanner's 110 million monthly users to book hotels using cryptocurrencies such as BTC, ETH, BNB, and its native token, AVA. Travala expects increased traffic from the collaboration and aims to highlight the benefits of booking travel with digital assets.
Source
2️⃣ EigenLayer to Distribute 86M Tokens to Stakers, Node Operators ⚡️
According to a recent announcement, restaking protocol EigenLayer plans to distribute 86 million EIGEN tokens in its season 2 "stake drop." The distribution will begin on or before September 17, 2024, and targets participants active between March 15 and August 15.
Eligible recipients reportedly include stakers, node operators, ecosystem partners, and community members who have actively helped the project. The tokens will be allocated based on each participant's pro-rata share of ETH staked, with 70 million tokens allocated to stakers and active operators, 10 million tokens for AVSs and other contributors, and 6 million tokens for the community. The tokens equate to around 5% of EIGEN's total supply, which will be 1.67 billion tokens at launch.
Source
3️⃣ Telegram CEO Vows to ‘Significantly Improve’ Moderation of Criminal Activity After Arrest ✈️
Yesterday, Telegram founder and CEO Pavel Durov finally broke his silence on his arrest in France by posting a message addressing the issue on his public Telegram channel. He started by describing the actions of the French authorities as “surprising for several reasons.” He denounced the grounds of his recent arrest and pushed back on assertions that Telegram is filled with criminals.
However, he admitted that the company needed to do a better job moderating abuse of the platform by criminals. He claimed that Telegram’s abrupt user count increase caused “growing pains that made it easier for criminals to abuse the platform. He also added that the platform is willing to leave markets where it doesn’t find agreement with a country’s regulatory body when it comes to enforcement. The platform appears to have made changes to its moderation policy since his message. Notably, the app has extended its moderators' reach to include private chats. For the first time, users in private chats can "flag illegal content" for review. An older version of Telegram’s moderation policy treated private groups as off-limits.
Source
4️⃣ UK Regulator Says 87% of Crypto Registration Applications Failed to Meet Standards for Approval 🔍
U.K.’s Financial Conduct Authority (FCA) has reportedly rejected the licensing applications of over 87% of the crypto companies that applied for licensing under the country's money laundering rules in its most recent fiscal year. Specifically, only 4 of the 35 applications received by the Financial Conduct Authority (FCA) managed to qualify in the 12 months ended March 31. Among those successfully registering were Binance's payments partner, BNXA, a PayPal U.K. unit and Komainu, a crypto custody joint venture of Nomura.
The FCA stated,
Over 87% of crypto registrations were rejected, withdrawn or refused. We help firms applying for authorisation by communicating our expectations and issuing guidance on good and poor practice. This is helping firms understand what is required – 44 crypto firms now have money laundering registration.
🚨 New Video Alert!! 🚨
Has the time for US crypto regulation finally come?
The federal government is rapidly running out of road to kick the can down. With elections looming, congress can’t ignore crypto forever, and neither can they stamp it out.
It’s only a matter of time until crypto laws make it onto the books. Today, we look at some of the most recent proposals, how likely they are to become law, and what it all means for crypto.
If you want to know what politicians are trying to do to your portfolio, this is a video you can't miss.
🔔 MARKET MOVING NEWS! (05/09/24)
1️⃣ Uniswap Labs Settles With The US CFTC For $175,000 On Charges Related To Derivatives Trading ❓
The U.S. Commodity Futures Trading Commission (CFTC) has reportedly charged the decentralised exchange developer Uniswap Labs with illegally offering leveraged cryptocurrency trading to US retail investors. Uniswap Labs has agreed to settle the charges by paying a $175,000 civil monetary penalty and to desist from violating the Commodity Exchange Act (CEA) in the future. Notably, Uniswap Labs also received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) in May this year.
Addressing the issue, Uniswap Labs Chief Legal Officer Katherine Minarik stated,
Today, Uniswap Labs resolved a CFTC investigation, about a small fraction of a percent of trading through our interface related to a handful of tokens, for a $175k fine in a standard no admit-no deny settlement. We remain singularly focused on building the future of DeFi for everyone and taking on the fights necessary to make that happen.
Our newly launched offering in the area of cryptocurrencies offers a high level of security and allows the integration of other currencies and applications. When it comes to cryptocurrencies, ZKB takes on the critical function of securely storing the private keys. Customers and third-party banks therefore do not need their own wallet and therefore do not have to worry about storing their own private keys. ZKB takes care of both.
Uniswap Labs is a proud 'Made in New York' pioneer of DeFi technology, which offers a path for all of us to better, fairer access to financial services. We don't wish the burden of unnecessary subpoenas on anyone. But we welcome dialogue any time with any government agency or elected official about the future we can build together when we champion responsible DeFi innovation, especially in our home state.
https://www.youtube.com/watch?v=kTDG3aRiGlQ
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Notably, Dough’s co-founders, Zachary Folkman and Chase Herro, are listed as World Liberty Financial's head of operations, and data and strategies lead. Octavian Lojnita, the project's smart contracts lead, also previously worked on Dough Finance. Boga, World Liberty Financial's pseudonymous front-end developer, is also listed as an author (under 0xboga) in Dough Finance's source code. Dough Finance was hit with a $1.8 million flash loan attack in July. However, it remains unclear if the Dough Finance codebase will be used in the final product. The report also states that the project plans to issue a "non-transferable" governance token called WLFI.
Source
https://youtu.be/ZnnAt9asjr0?si=H_H77OtC_4QYV7E3
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🔔 MARKET MOVING NEWS! (03/09/24)
1️⃣ Qatar Introduces Regulatory Framework For Digital Assets ▶️
Regulators of the Qatar Financial Centre (QFC), a special economic zone in Doha, Qatar, have reportedly released a comprehensive regime for regulating and creating digital assets. Specifically, the framework introduced by the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA) includes rules governing tokenisation processes and the legal recognition of property rights in tokens and underlying assets, custody arrangements, transfer and exchange. It even includes provisions for the legal recognition of smart contracts. The announcement claims the framework ensures the digital asset ecosystem within the QFC is secure and transparent and adheres to international standards.
Source
2️⃣ Metaplanet Teams Up With SBI VC Trade for Bitcoin Custody 💸
Japanese investment adviser Metaplanet, which adopted BTC as a reserve asset earlier this year, has reportedly partnered with SBI VC Trade, the crypto division of financial services giant SBI Group.
The partnership grants Metaplanet access to SBI's custodial services which are designed to prioritise tax efficiency and offer the potential to use Bitcoin as collateral for financing. Metaplanet stated that the partnership aligns with its vision of a “modern financial service provider” and that it adds flexibility to its corporate strategy, complementing its ongoing efforts in equity and debt financing.
Source
3️⃣ Binance CEO Calls Gambaryan’s Treatment ‘Inhuman’ As Disturbing New Video Emerges ‼️
Yesterday, Binance CEO Richard Teng made an X post demanding the immediate release of Tigran Gambaryan, the Binance executive who has been detained in Nigeria since February. The post comes shortly after a video posted on the platform showed the harsh treatment of Gambaryan while being escorted to court after his trial date was brought forward to Sept. 2nd
Specifically, the video shows Gambaryan limping into an Abuja courtroom while dragging his left leg behind him. Prison authorities appear to have denied his request for a wheelchair. The video also shows Gambaryan pleading with a prison guard escorting him into the courtroom for help walking.
Gambaryan’s lawyers filed a new application for bail on medical grounds yesterday. A prosecutor for the Economic and Financial Crimes Commission (EFCC) reportedly opposed the bail application, arguing that Gambaryan was not, in fact, in ill health and claiming he was refusing treatment.
Source
4️⃣ WazirX Hacker Moves $6.5 Million Worth ETH To Tornado Cash as Tension Grows 🔍
According to blockchain security firm PeckShield, the hacker behind the $230 million WazirX exploit appears to have transferred 2,600 ETH ($6.5 million) to the U.S.-sanctioned cryptocurrency mixer Tornado Cash. Onchain data shows the hacker carried out 26 transactions, each transferring 100 ETH to Tornado Cash, to mask the flow of funds. Interestingly, the transactions happened just hours after WazirX’s first town hall meeting to discuss its moratorium application.
Source
5️⃣ SEC Should Create ‘Customized’ S-1 Forms For Digital Asset Securities: Commissioner Mark Uyeda ⚡️
During Tuesday’s Korea Blockchain Week 2024 event in Seoul, South Korea, U.S. Securities and Exchange Commission commissioner Mark T. Uyeda said the agency needs to create a distinguished S-1 registration form for digital asset securities. For context, an S-1 form is the registration statement from the SEC that U.S. issuers must file before offering a new securities product.
Uyeda used registered index-linked annuities to illustrate how the SEC's standard registration form may be inadequate for certain financial products. He explained that the SEC works with product sponsors to develop tailored registration requirements. On that note, he questioned why the agency couldn’t do the same thing with crypto and digital asset securities.
Source
https://www.youtube.com/watch?v=DkopnB2AjLc
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🔔 MARKET MOVING NEWS! (02/09/24)
1️⃣ Canadian Court Orders $1.2M Bitcoin Loan Repayment 💸
The Supreme Court of British Columbia has reportedly settled a case involving the repayment of a Bitcoin loan between the disputing parties. Specifically, the court ordered the defendant to pay $1.2 million to the plaintiff to settle a dispute over a loan of 22 BTC that the defendant took from the plaintiff in September 2021. The final settlement amount included interest accrued on the fiat value of the BTC loaned at the time of the breach of contract.
Source
2️⃣ SEC Warns FTX Against Paying Creditors Back In Stablecoins, Other Crypto ‼️
According to a recent filing, the Securities and Exchange Commission has warned FTX that it "reserves its rights to challenge transactions involving crypto assets." Specifically, the SEC hints that it may challenge the ‘legality’ of payments made by the exchange to creditors if it chooses to use stablecoins. The SEC's filing also notes that the plan fails to specify who would distribute the stablecoins, should that provision be approved. It’s important to note that the SEC didn't outright state that such an action would be illegal; it just said that it seeks to preserve its option to potentially challenge such a transaction.
Source
3️⃣ Cardano’s Chang Hard Fork Goes Live, Introducing On-Chain Governance ☄️
Layer 1 blockchain Cardano has officially undergone the first stage of its Chang hard fork. The Chang upgrade is the latest step in the network’s transition to a decentralised governance model. Specifically, it allows ADA token holders to submit or participate in the voting process for governance actions as part of the project’s “Voltaire” upgrade phase. This also makes Cardano the first major blockchain to transition its centralised governance structure to a token-based decentralised governance system.
Giorgio Zinetti, CTO of the Cardano Foundation stated,
I would say it is the biggest event in Cardano history, and it really makes us different from many other chains. I think we are the largest layer 1 with on-chain governance. There are some smaller players, like Tezos and Polkadot, who already have on-chain governance. But if there was a leaderboard, real decentralised layer-1s, we would be number one.
🚨 New Video Alert!! 🚨
UBI has been a hot topic ever since AI started going mainstream with the likes of ChatGPT, and its introduction could have profound implications on the economy and the markets.
The catch is that the effects of UBI aren’t obvious at first glance. Whereas de facto UBI experiments like the pandemic have shown it can be inflationary, there are circumstances where it could cause deflation.
Not only that, but it’s quite possible that we won’t need UBI at all. This ultimately depends on how the so called ‘fourth industrial revolution’ plays out, a story that elites at the WEF are trying to write.
This is a video you can’t miss.
🔔 MARKET MOVING NEWS! (31/08/24)
1️⃣ Chinese ‘CoinGecko’ Investigated By Local Police ▶️
Feixiaohao, a major cryptocurrency market data and industry news provider in China, is reportedly under investigation by local police. The Chinese cryptocurrency journalist Colin Wu reported the news on his channel Wu Blockchain News. He cited a report from a local crypto channel on WeChat, which mentioned that “many key members of the Feixiaohao team” have been taken away by the Inner Mongolia police for investigation. Inner Mongolia is an autonomous region of northern China. Feixiaohao has often been referred to as the Chinese version of CoinGecko.
Source
2️⃣ Singapore, Hong Kong And UAE Lead In Crypto Adoption: Report ☄️
A study conducted by the investment migration consultancy firm Henley & Partners has found that Singapore, Hong Kong and the United Arab Emirates rank at the top globally in cryptocurrency adoption. The researchers ranked the various jurisdictions based on public adoption, infrastructure, innovation and technology, regulatory environment, economic factors and tax friendliness.
Source
3️⃣ Telegram Held $400 Million In Digital Assets, Generated Significant Crypto Revenues In 2023 🔍
According to a Financial Times report, the messaging platform Telegram held $400 million in digital assets at the end of 2023. Citing copies of Telegram's 2023 financials, the report states that nearly 40% of the messaging app's revenues (nearly $148 million in revenue) were generated from digital asset-related activities, listed under the categories of “integrated wallet” and “sale of collectibles." Collectibles sold by Telegram to its users reportedly include usernames and virtual phone numbers.
Source
4️⃣ Elon Musk's X Is Now Banned in Brazil Following Judge's Ruling ‼️
According to a BBC report, a Brazilian Supreme Court Justice has ordered Elon Musk’s social media platform X to be banned in the country. The ruling comes after Elon Musk refused to name a legal representative for the firm in a case which alleges the platform was used to spread disinformation. The platform also reportedly ignored an order to remove some accounts. Local media reports also claim that anyone who uses a VPN to circumvent the ban could be subject to a fine amounting to 50,000 reais ($8,900).
Source
🔥 Rally Report 🔥
BEAM
The price of BEAM has rallied by 7% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen among GameFi tokens
🤔 Notably, there doesn't seem to be any specific reason for the rally. The only bullish recent development in the GameFi ecosystem is the announcement regarding a partnership between SBI Holdings, one of Japan’s largest financial conglomerates, and Oasys, a Web3 gaming blockchain platform. The partnership includes a financial investment from SBI Holdings that will be used to increase the liquidity of Oasys’ native OAS token.
If you want to buy or trade BEAM, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
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🚨 New Video Alert!! 🚨
Bitcoin miners have been selling for quite some time - since November, to be exact. So naturally, this paints a pretty bearish picture for the future of the Bitcoin network and BTC’s price - at least on the surface.
Dig a little deeper, and you’ll see that there’s much more to this story, and it could in fact be a bullish sign. That’s simply because miners have been selling in preparation of the Halving event, and have used that money to expand their mining operations. In other words, short term pain for long term gain.
Today, we’ll be taking a look at the state of the Bitcoin mining industry. We’ll look at the activity of miners before and after the Halving, how the mining industry is evolving, and where it could be heading next.
If you hold BTC (as we’re sure the vast majority of you do!) then you’ll want to watch this one right until the end.
Enjoy!!