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🔔 MARKET MOVING NEWS! (11/09/24)
1️⃣ tZERO Secures Approval to Custody Digital Assets, Becoming Second Firm to Get US Regulators' Sign Off 🤔
Financial technology firm tZERO Group Inc has reportedly received approval from the U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) to become a special purpose broker-dealer in the U.S. Notably, this makes tZERO the only other firm to receive the license after Prometheum. The license allows the firm to custody digital asset securities on behalf of retail and institutional clients.
Alan Konevsky, executive vice president and chief legal & corporate affairs officer of tZERO stated,
Now, as a result of this effort and philosophy, we are at the very avant-garde of regulatory innovation in the United States as one of only two broker-dealers entrusted by the regulators to custody digital asset securities. We will leverage this unique opportunity, on behalf of the digital asset industry at large, to illustrate how positive regulatory clarity can produce real-world innovation, novel products and real commercialisation across a range of traditional financial and real-world assets — as we advance towards an integrated regulated infrastructure layer and connective tissue for compliant digital assets.
🚨 New Video Alert!! 🚨
Everyone has been talking about Helium lately. This is not surprising considering its HNT token is one of the few cryptos that has been pumping while the rest have been dumping. This is for good reason.
Helium seems to have achieved what many other crypto projects are trying to: actual mass adoption with a real world use case that people would use. In Helium’s case, that’s Helium Mobile.
The growth of Helium’s Mobile plan has been nothing short of exponential, and though the fundamental demand its created for HNT is still small, the trend is clear, and it makes for a very bullish narrative.
If you hold HNT or are considering it, this is a video you need to watch.
🔥 Rally Report 🔥
ARTIFICIAL SUPERINTELLIGENCE ALLIANCE
The price of FET has rallied by 12% in the past 24 hours.
WHY?!
📈 The rally comes after the team announced a new update for the Fetch.ai Wallet.
‼️ The update introduces governance features, auto-lock, and new branding from its recent merger with SingularityNET and Ocean Protocol.
If you want to buy or trade FET, 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:
- Jobs Crash Crypto
- Whales Are Accumulating
- Ripple Making Waves
- Liquidations Driving Volatility
- Telegram Upping Moderation
- Top Gainers in Crypto
Join us LIVE!
🔥 Rally Report 🔥
TONCOIN
The price of TON has rallied by 7% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen among tokens in the TON ecosystem. This comes after a series of bullish developments over the weekend.
▶️ Notably, Telegram founder Pavel Durov finally broke his silence on his arrest in France and addressed the issue on his public Telegram channel. Telegram mini-app Catizen revealed that it was the highest earning app on Telegram with 800,000 paid users at an average of $33 average revenue per paying user. The TON Foundation also announced that it was allocating $24 million worth of TON to support the growth of DeFi on the network.
If you want to buy or trade TON, 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 knows about the WEF, yet it seems only a few people know about its summer conference. It’s typically held in China, and it features up and coming ‘leaders’ and ‘shapers’ handpicked by the WEF.
This year’s so called ‘Summer Davos’ seems to have flown under the radar, so we figured it was only appropriate to cover it. Not surprisingly, it wasn’t nearly as elaborate as the actual Davos summit.
What was surprising however was just how significant the few things it revealed were. These could have profound implications for your future and your investments. Watch until the end to know why!
🔥 Rally Report 🔥
SUI
The price of SUI has rallied by 10% in the past 24 hours.
WHY?!
🎙 The rally seems to be triggered by bullish sentiments for the project following the launch of its ‘Suitember’ marketing campaign. The team has announced that it will announce several significant developments for the ecosystem during the month of September. The first of these was the launch of its SuiPlay0x1 device a few days ago.
🕯 The rally also seems to be boosted by a spike in short liquidations. Data from Coinglass shows that over $2.8 million in shorts and $400K in longs were liquidated over the past 24 hours. This is in line with previous volatile trading activity seen for the token every time it hovers over the $1 price mark.
If you want to buy or trade SUI, 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!! 🚨
Layer 2s have played an integral role in supporting Ethereum’s scalability. The problem is, there are now so many L2s out there that finding the best ones can be a bit like searching for a needle in a haystack.
However, this doesn’t mean you shouldn’t be paying attention. That’s because some layer 2s have seen a lot of adoption, and some even managed to accrue more in total value locked (or “TVL”) than other L2s with much bigger market caps. Naturally, this means that these L2s could have serious potential, particularly as the bull market returns to full swing.
Today, we’ll be going over the top 5 Ethereum Layer 2s by TVL. We’ll explain what they are, what they’ve been up to, what they have planned in the future, and what this could mean for the Layer 2 ecosystem.
So sit back, relax, and enjoy! Oh - and don’t forget to show that like button some love on your way in!!
🔥 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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https://www.youtube.com/watch?v=urFiA-a61QU
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🔔 MARKET MOVING NEWS! (10/09/24)
1️⃣ Global Crypto Investment Products Record Largest Weekly Outflows Since March: Coinshares 🔍
According to CoinShares’ latest report, digital asset investment products recorded net outflows of $725.7 million last week. This is the highest weekly net outflow since March. The report states that most of last week’s outflows were from the U.S. market, registering $721 million in net outflows. This includes $706.1 million in net outflows from the U.S. spot Bitcoin exchange-traded funds alone, with their eight-day negative streak now totalling nearly $1.2 billion.
Source
2️⃣ Ether.Fi to Launch Visa 'Cash' Card on Scroll Network ⚡️
Liquid restaking platform Ether.fi has announced the launch of ‘Ether.fi Cash’ – a new “crypto-native” credit card that will settle transactions on the Ethereum layer-2 scaling network ‘Scroll’. The credit card will reportedly allow users to pay with cryptocurrency “anywhere Visa is accepted.”
Ether.fi says the card is non-custodial and that users can finance purchases by borrowing against yield-bearing crypto assets including Ether.fi’s liquid restaking token ‘eETH’. The card is currently in use internally at Ether.fi and will start shipping out to pre-order customers on Sept. 16.
Source
3️⃣ Judge Issues Temporary Stay In Kalshi V. CFTC Election Betting Case ☄️
Judge Jia M. Cobb for the U.S. District Court for the District of Columbia has reportedly ordered a "temporary administrative stay" on an order that previously allowed prediction market Kalshi to list event contracts on the United States presidential election outcomes. The stay will last for a period of three days, after which the court will hold a hearing on Thursday. Depending on the outcome of the hearing, Kalshi may still be able to list the markets as soon as Friday.
Source
4️⃣ FBI Reports a 45% Surge in Losses Tied To Crypto Fraud In 2023 📈
The United States Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center has released its cryptocurrency fraud report for 2023. The report reveals that Americans lost $5.6 billion due to cryptocurrency fraud in 2023, up 45% from 2022. The FBI stated that crypto-related complaints represented 10% of total financial fraud complaints, but almost 50% of the total lost that year. The most number of complaints were filed by people over the age of 60, followed by consumers in their 30s and 40s. Investment scams were the most reported crime.
Source
5️⃣ FTX Finalises Settlement With Emergent Over $600M Robinhood Shares Claim ‼️
Bankrupt crypto exchange FTX has reportedly proposed a $14 million deal with Sam Bankman-Fried-founded Emergent Technologies in which the latter firm will assign its claims in Robinhood shares to FTX debtors. FTX plans to use the $14 million to pay for Emergent’s administrative expenses related to its withdrawal of a petition to claim 55 million Robinhood shares and cash worth over $600 million in total. According to a motion by CEO John Ray III filed last Friday, the settlement provides a path for Emergent to quickly resolve its bankruptcy case in Antigua and also helps FTX recover more money for its creditors and avoid further litigation costs.
Source
https://www.youtube.com/live/-nJW9hdhR3Y
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🔔 MARKET MOVING NEWS! (09/09/24)
1️⃣ Tether Addresses $102 Million Agricultural Investment: Land Is "Crucial Asset Class" 💰
According to recent filings, stablecoin issuer Tether has invested $100 million to acquire a 9.8% stake in Latin American agricultural giant Adecoagro, making it the company's third-largest shareholder. This is the stablecoin giant’s first investment in the agriculture and food sector. The investment was made between July 29 and August 16 of this year.
According to local news site Ámbito, Adecoagro is Argentina's largest producer of milk and rice. Explaining the company’s investment in this segment, a Tether spokesperson stated,
Tether views land as a crucial asset class, complementing its existing investments in Bitcoin and gold. Land is inherently scarce, provides long-term yield, and has historically served as a safe haven during periods of geopolitical instability.
https://www.youtube.com/watch?v=pWRKPk7GhT0
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🔔 MARKET MOVING NEWS! (08/09/24)
1️⃣ CFTC Files Emergency Motion Seeking To Stop Kalshi Listing Election Prediction Contracts ‼️
The U.S. Commodities and Futures Trading Commission (CFTC) has reportedly filed an emergency motion to block the U.S. prediction market Kalshi from offering election betting contracts. Notably, the submission comes just hours after a judge struck down a previous CFTC order halting Kalshi’s election markets.
Specifically, the CFTC’s motion seeks an emergency stay of the judge's decision for at least two weeks following the issuance of the court’s detailed opinion explaining why it overruled the order. The CFTC argued that without the “benefit of the Court’s reasoning,” it is unable to make an informed decision “whether to appeal nor is it able to fully brief a motion for stay pending any forthcoming appeal.” It stated that "time is of the essence" since Kalshi could potentially list regulated elections contracts as soon as Tuesday morning. The regulator stated that it would suffer "irreparable injury" if the contacts were to begin trading since it likely won't be able to revoke approval later.
Source
2️⃣ Elon Musk’s ‘DOGE’ Gov Meme Sends Political Speculation Soaring 🔍
In a recent post on X, Tesla founder Elon Musk teased the idea of establishing himself as the head of a new government institution once former United States president Donald Trump claims the Oval Office again in the November 2024 election. Notably, Trump recently vowed to create a government efficiency commission. The commission would supposedly conduct “a complete financial and performance audit of the entire federal government” and make recommendations for drastic reforms.
Hinting at potentially heading this commission, Musk’s post featured AI-generated image with a double-entendre referencing both cryptocurrency and politics. The AI-generated image showed Musk seated behind a desktop placard with the letters “D.O.G.E.” printed on it. The image was accompanied by text reading “Department of Government Efficiency.” For context, DOGE is also the ticker of Musk’s favourite memecoin – Dogecoin.
Source
3️⃣ Roaring Kitty Returns With Cryptic X Post, Solana-Based CHEWY Memecoin Soars 28% 📈
After an over two-month hiatus, Keith Gill (aka ‘Roaring Kitty’) returned to social media with a cryptic X post depicting Solana-based memecoin Chewy (CHWY). Specifically, Gill shared an image from the movie Toy Story. It shows the scene where Andy drops his favourite toy, Woody. In Gill’s post, Woody has been replaced by the Chewy token logo. Notably, Gill had revealed a 6.6% ownership in the online pet food retailer Chewy, earlier in July. While the post resulted in Chewy’s price rallying nearly 28% against SOL, some believe Gill’s cryptic post suggests that he is dropping the Chewy company, not endorsing it.
Source
https://www.youtube.com/watch?v=7zlar_XU6jE
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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
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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!