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🔔 MARKET MOVING NEWS! (06/11/24)
1️⃣ Bitcoin Price Hits New All-Time High Amid US Election Hype ‼️
The price of BTC hit a new all-time high just above $75,000 on crypto exchanges Binance, Coinbase and others in Asian morning hours Wednesday as favourable election results for crypto-friendly Republican Donald Trump began to roll in. At the time of writing, Trump has officially been elected as the 47th president of the United States. His win in Wisconsin put him over the threshold of 270 electoral votes needed to clinch the presidency.
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2️⃣ Bitcoin Mining Difficulty Breaks Through 100 Trillion For The First Time 💸
Bitcoin’s mining difficulty reportedly rose 6.2% yesterday to hit an all-time high of 101.65 trillion (T) at block height 868,896. This exceeds its prior high of 95.7 trillion set just two weeks ago. The higher the difficulty, the more computational power and energy a miner needs to find the right hash for the next block. This new all-time high mining difficulty adds pressure on smaller miners, who may not have as much cash available as their publicly traded rivals to keep their rigs going.
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3️⃣ Crypto Lobby Secures Major Victory as Sherrod Brown Loses Senate Seat in Ohio 🔼
U.S. Senator Sherrod Brown has reportedly lost his re-election bid in Ohio to Republican Bernie Moreno. Notably, Sen. Brown is known for being a longtime crypto sceptic and chair of the powerful Senate Banking Committee. Moreno victory against him hands a significant win to the crypto lobby after a record-breaking investment campaign. Specifically, Fairshake, a pro-crypto super PAC, poured over $40 million into unseating the influential Democratic incumbent. Moreno secured a spot in the Senate by a margin of 50.6% to 46%.
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4️⃣ Chainlink, UBS Asset Management, Swift Complete Pilot to Extract Cash From Tokenised Funds ☄️
Chainlink, Swift and UBS Asset Management have reportedly completed a pilot that tests the ability to settle and redeem fiat cash from tokenised funds. The project, completed as part of the Monetary Authority of Singapore's (MAS) Project Guardian, showcased how Swift's infrastructure can facilitate off-chain cash settlements for tokenised funds. It also demonstrates how tokenisation and blockchain can work to improve Swift which connects over 11,500 financial institutions in more than 200 countries.
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5️⃣ Binance, CZ File Motion to Dismiss SEC’s Amended Complaint ❓
Lawyers for crypto exchange Binance and founder CZ have reportedly filed a motion asking the court to dismiss an amended complaint by the US Securities and Exchange Commission. Notably, the SEC’s amended complaint targets additional tokens such as AXS, FIL, ATOM, SAND and MANA. Binance lawyers argue that the SEC’s amended complaint insists that virtually all transactions involving crypto assets, including blind secondary market resales of tokens, are securities transactions on the basis that some buyers may hope the assets will increase in value. They claim the SEC’s amended claims against Binance “fail as a matter of law” and should be dismissed with prejudice and without leave to amend.
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Kraken co-CEO Arjun Sethi stated,
The lack of competition in the regulated stablecoin market has prevented the industry from reaching its full potential. USDG upends this dynamic with a more equitable model that will bring mainstream participants into the ecosystem and accelerate new stablecoin use cases.
🔥 Rally Report 🔥
DOGECOIN
The price of DOGE has rallied by 12% in the past 24 hours.
WHY?!
🐶 Part of a larger rally seen among memecoins, especially dog-themed memecoins.
🧐 The broader rally appears to be led by DOGE, which traders seem to view as a proxy play to Trump’s victory in the U.S. Presidential elections. Notably, Elon Musk (aka the Dogefather), who is part of the Republican campaign, is expected to lead the proposed Department of Government Efficiency (D.O.G.E.) if Trump wins the election.
If you want to buy or trade DOGE, 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!! 🚨
Our weekly Live News show is back! Don't miss this one, it’s a big one…
Today we cover:
- Is Bitcoin About To Fly?
- Election: Final Countdown
- Battle of the Oracles
- USDT Unstoppable
- Top Gainers in Crypto
- And More
🔔 MARKET MOVING NEWS! (04/11/24)
1️⃣ Binance Co-Founder Clarifies Asset Listing Policies, Dispels FUD 👀
Binance co-founder Yi He has reportedly denied negative claims about its listing fee policies recently made by the CEO of Moonrock Capital. Specifically, he claimed that Binance demanded 15% of an unidentified project’s token supply to secure a listing on the centralised exchange. Yi He responded by stating that the company screens projects for listings, but does not charge a percentage of their tokens or a fixed amount. Binance’s listing policy stipulates that all listing fees will be “transparent,” and 100% of the fees are donated to charity.
Source
2️⃣ Crypto Casino Metawin Loses $4 Million To Exploit Of Ethereum, Solana Hot Wallets ▶️
According to blockchain sleuth ZachXBT, crypto casino Metawin's Ethereum and Solana hot wallets have reportedly been compromised and over $4 million of assets have been stolen by the attacker. The hacker reportedly exploited the protocol's "frictionless withdrawal system." ZachXBT also noted that the stolen funds have been transferred to Kucoin and a HitBTC nested service. Metawin has since disabled withdrawals temporarily
Source
3️⃣ Kraken Launches Derivatives for Australian Wholesale Clients After Regulatory Setback 🔍
U.S.-based crypto exchange Kraken has reportedly launched a new suite of crypto derivatives products for Australian wholesale clients. Notably, the launch comes months after Kraken’s domestic operator, Bit Trade Pty Ltd, lost a court case with the Australian Securities and Investments Commission. Regardless, Kraken’s General Manager for Australia, Jonathon Miller, claimed the derivatives broker offering is a response to increasing demand from institutional clients for compliant, high-security trading options. To qualify, the potential customer's net assets must exceed $2.5 million (US$1.64 million) with a gross annual income exceeding $250,000 (US$164,000) for the last two financial years.
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4️⃣ Taiwan’s FSC To Heighten Scrutiny Of Crypto Listings On Exchanges In Upcoming January Rules, Official Says ‼️
According to a recent speech by Hsi-Ho Huang, the director of the securities firms division of the Taiwan Financial Supervisory Commission (FSC), the FSC will require “virtual asset service providers” to complete compliance registration with new rules set to take effect in January 2025. Notably, the rules are set to introduce new criteria, covering crypto asset listing, record keeping and custody. The speech was made at the FinTechOn conference in Taipei. Non-compliance may lead to criminal penalties, including imprisonment for up to two years.
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5️⃣ Wiz Khalifa’s X Account Apparently Hacked To Promote Sham Memecoin ❌
Hackers reportedly took control of rapper Wiz Khalifa’s X account on Nov. 3. They attempted to dupe his followers by posting a link to scam memecoin with the caption: “working with my team to drop $WIZ for all the crypto fans.” This saw the market capitalisation of the WIZ memecoin rally to a peak of $3.4 million within 15 minutes of launch. It has since crashed to less than $28,000 as early holders unloaded huge sums of the token. Blockchain sleuth ZachXBT claimed the same hacker was responsible for taking over Truth Terminal developer Andy Ayrey’s account on Oct. 29.
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6️⃣ Singapore Pushes for Commercialisation of Tokenisation ⚡️
The Monetary Authority of Singapore (MAS) has announced new plans to advance tokenisation in financial services. Its crypto industry group, Project Guardian published two frameworks on the acceptance and implementation of tokenised assets by financial institutions.
Leong Sing Chiong, deputy managing director (Markets and Development) of MAS stated,
🚨New Video Alert!!🚨
Last month, officials from 36 countries met in Kazan, Russia, to participate in the BRICS summit. These officials collectively represented nearly half of the world’s population, and over 1/3 of its GDP.
If you didn’t hear about it, that might something to do with the fact that the so called global south countries are starting to come together in a big way and could challenge the Western led world order.
The few Western media outlets that did report on the BRICS summit seemed to dismiss it as something minor or even as something delusional. In reality, it was one of the most significant events in history.
This is a video you need to watch until the end.
🚨 Big News🚨
Mariano is back with some incredible insights in his latest video on Coin Bureau Trading! 📈 This is a pivotal week with major market events, and Mariano is dropping exclusive alpha that you won’t want to miss! 🤑
From Bitcoin's critical price levels to key market indicators, he’s got everything you need to stay ahead. So if you're serious about crypto trading, hit the link and watch the full video now.
While you're there, make sure to subscribe to Coin Bureau Trading for more weekly updates and expert analysis. Don’t miss out on the latest trends and opportunities – join us now! 🚀
Next Week in Crypto: Key Events to Watch (Nov 4th - Nov 10th, 2024) 🗓
Next week is set to be a very significant one for markets as a whole, with the U.S. election, shortly followed by the Fed’s interest rate decision and FOMC press conference. Due to the absence of any notable crypto-specific events next week, likely due to the election, this week’s post will fully focus on these key events.
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⚖️ November 5 — U.S. Presidential Election
The highlight of the week is, without a doubt, the U.S. presidential election. While markets view Donald Trump as the more pro-crypto candidate, crypto could still prosper under Kamala Harris administration. Here’s why:
With the U.S. crypto industry growing in users and institutional interest, it’s clear that U.S. politicians can no longer delay establishing federal crypto regulations, if they want to keep the industry within its borders. Without clarity, much of it is shifting to jurisdictions with established frameworks, like the EU and UAE.
U.S. politicians seem to be realising this, as shown by recent bipartisan support for overturning SAB 121, which aimed to reverse restrictive crypto policies but was vetoed by Biden. Additionally, the FIT21 bill, designed to establish a crypto regulatory framework, passed the House of Representatives with bipartisan backing in May.
So, while Harris hasn’t voiced pro-crypto views like Trump, she hasn’t taken an anti-crypto stance either, and the odds of crypto receiving regulatory clarity under either administration seem stronger than ever.
That said, while possibly bullish in the long term, elections often bring significant short-term volatility in either direction, so prepare accordingly.
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📊 November 7 — Fed Interest Rate Decision & FOMC Press Conference
Last week’s U.S. economic data presented a mixed picture—GDP and the unemployment rate signaled a robust economy, while PCE aligned with expectations, leaving the overall inflation picture unchanged. However, non-farm payrolls came in significantly below expectations, prompting markets to strongly price in a 25 bps rate cut in the upcoming meeting.
Moreover, weak non-farm payroll data could indicate underlying softness in the labor market, leading to further expectations of an additional 25 bps cut in December. This could be bullish for crypto, as lower rates mean cheaper borrowing costs and increased liquidity in the markets. Whether this holds true will likely be a key topic in the FOMC press conference, where Jerome Powell is expected to address these questions.
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That’s all for this week’s action! A bit different from the usual, but we’ll be back with more crypto-focused content next week.
🚨 New Video Alert!! 🚨
Millionaires are on the move. With visas for sale and cities competing to attract moneyed migrants, it’s never been so easy for the rich to relocate.
But which countries are losing the most millionaires, and why? And what does it mean for a country when its millionaires decide to leave? And is an influx of rich residents all good news for the countries on the receiving end?
Today, we find out - plus, what all this could mean for the markets.
🔔 MARKET MOVING NEWS! (02/11/24)
1️⃣ 21Shares Files Form S-1 With SEC For Spot XRP ETF ‼️
Asset manager 21Shares has reportedly filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to launch an XRP ETF. If approved, the 21Shares Core XRP Trust will be listed on the Cboe BZX Exchange and Coinbase Custody Trust Company will be its custodian. 21Shares is the latest firm to file for an XRP ETF following Canary Capital and Bitwise.
Source
2️⃣ TON Foundation Launches New Society DAO Governance Model ⚡️
The Open Network (TON) Foundation has announced the launch of ‘Society DAO’ - a decentralised autonomous organisation (DAO) with a new governance model that seeks to create a more decentralised ecosystem. The Society DAO includes four founding members: TON Core, TON Society, Wallet in Telegram and the newly launched developer collective, TON Studio.
Society DAO wants community members to actively participate in decision-making, resource allocation, and project management. TON Foundation President Steve Yun and Ton Society co-founder Jack Booth stated,
TON Foundation is advancing a community model that redistributes resource allocation power back to the community. Under this approach, respected and proven community members are empowered to coordinate vision, goals, and strategies, collectively determining resource allocation in alignment with TON's overall growth.
🔥 Rally Report 🔥
KAIA
The price of KAIA has rallied by 6% in the past 24 hours.
WHY?!
⚡️ Bybit Futures announced the listing of the KAIAUSDT Perpetual Contract with up to 50x leverage.
❓ Kaia is the Layer 1 network launched after a merger between Finschia, the blockchain from the popular Japanese messaging app Line and Klaytn, a network backed by the Korean messaging platform Kakao.
If you want to buy or trade KAIA, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
🔗 https://www.coinbureau.com/deals/trading/kucoin/
🚨Must-Watch!🚨
Jeremy Allaire, the CEO of Circle talks about the future of USDC, stablecoins, Ethena, CBDCs & More!
Don’t miss out on this exclusive interview 👇
🚨 New Video Alert!! 🚨
It’s happening.
After a decade of dog dominance, cat memecoins are finally starting to heat up.
Crypto’s cat people have hope like never before.
But can this cycle’s cat coins challenge the Shiba Inu hegemony?
Or, will they flop like so many felines before them?
Tune to find out, as we put crypto’s top cats under the microscope.
🔥 Rally Report 🔥
GOATSEUS MAXIMUS
The price of GOAT has rallied by 46% in the past 24 hours.
WHY?!
‼️ Part of a larger market rally as investors anticipate bullish developments for the crypto industry on Trump’s victory in the U.S. Presidential elections.
❓ While not yet official, Trump is just three electoral college votes away from securing his second term as president. At the time of writing, Associated Press' real-time tracker shows that Trump still holds leads in Michigan, Wisconsin, Alaska, Arizona and Nevada. Just one of these states would confirm him to another term.
📈 This bullish outlook seems to have reignited a rally among tokens that saw the most attention over the past month, including $GOAT.
If you want to buy or trade GOAT, 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/
Aaron from Coin Bureau Trading just dropped a banger! If you're following the election and care about your bags at all, you need to see this 👇
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🚨New Video Alert!!🚨
Solana has been flipping Ethereum by many metrics, and this has everyone wondering if SOL could flip ETH by market cap too. It’s too soon to say for sure, but SOL is certainly on the right track.
Over the last few months, Solana’s demand metrics have been going parabolic, so much so that it’s raised suspicions that most of this activity is coming from bots. It seems that some of it is.
Even so, large amounts of real money is flowing into SOL and Solana’s ecosystem. With FTX creditors set to be repaid and a spot Solana ETF in process, SOL just might flip ETH by the time this cycle is over.
Enjoy!
🔔 MARKET MOVING NEWS! (05/11/24)
1️⃣ British Pension Fund First to Add Bitcoin to Balance Sheet ▶️
According to the United Kingdom-based pensions advisory firm Cartwright, an “unnamed pension scheme” in the country has put BTC on its balance sheet. Specifically, Cartwright stated that it recommended the unnamed client in the UK to make a 3% allocation to BTC. This makes it the first move of its kind in the country.
Sam Roberts, Cartwright’s director of investment consulting stated,
We are proud to have led this groundbreaking move which we hope will be the start of a trend for institutional investors in the UK to catch up with their increasing number of peers and competitors around the world who are already taking advantage of Bitcoin’s unique attributes.
Regardless of what happens in the 2024 elections, we’re committed to supporting policymakers, irrespective of party affiliation, who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow.
We are capitalising on the opportunity to maximise stakeholder value by accumulating bitcoin. We plan to continue to purchase bitcoin with cash from operations and with cash proceeds from our sales under our ATM program. In addition, we are exploring additional financing opportunities that will enable us to acquire even more bitcoin.
https://www.youtube.com/live/_C8WMKIX8bU?si=n2T7XHfQnwkOlpXA
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MAS has seen strong interest in asset tokenisation in recent years, notably in fixed income, FX, and asset management. We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenised capital markets products, and scale tokenised markets on an industry wide basis.
https://youtu.be/nFaYLZQswO8?si=kc0BTiS5790RDyKV
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🔔 MARKET MOVING NEWS! (03/11/24)
1️⃣ US Government Seeks Return Of $13 Million In Political Donations From Former FTX Executives ▶️
According to a new filing in federal court, the U.S. government is negotiating for the return of political donations made by former FTX executives. The government has requested time until January 15 to "discuss with [the PACs] the forfeitability of funds these entities received from the defendant and his co-conspirators."
It named several groups, including Senate Majority PAC, Future Forward PAC and Future Forward USA Action, Emily’s List/Women Vote, and GMI PAC. Data from OpenSecrets shows around $13.25 million in donations were directed to these groups from either Bankman-Fried or former FTX head of engineering Nishad Singh.
Source
2️⃣ Ethereum Researchers Relinquish EigenLayer Roles Over Conflict-of-Interest Concerns 🔍
Ethereum Foundation researchers Dankrad Feist and Justin Drake have reportedly resigned from their advisory roles at Ethereum restaking protocol EigenLayer. Both claimed to have made the move after considering a potential conflict of interest within the Ethereum community. Notably, some community members voiced these concerns months ago when the researchers first made their announcement about joining as advisors. The community members feared that EigenLayer’s payouts to Ethereum foundation researchers was an attempt by the project to influence the broader Ethereum network’s development roadmap.
Feist stated,
While I believe that the role was negotiated in good faith and with the aim of making sure that EigenLayer is well aligned with Ethereum. I understand that the perception of this relationship has been different and that for many the conflict of interest this creates is difficult to reconcile with my role as an Ethereum researcher.
https://youtu.be/zHrPpfUvQTY?si=0Vk5OZ5LOmyFq7Jd
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The Union Bank of Switzerland (UBS), the largest private bank in the world, has announced the launch of the "UBS USD Money Market Investment Fund Token" (uMINT) - a tokenised investment fund on the Ethereum blockchain. UBS stated that the fund provides investors access to "high quality money market instruments based on a conservative, risk-managed framework." However, it failed to disclose exactly which financial instruments made up the fund. UBS APAC co-head Thomas Kaegi explained the launch comes after the firm has “seen a growing investor appetite for tokenised financial assets across asset classes.”
Source
🔔 MARKET MOVING NEWS! (01/11/24)
1️⃣ Tether Registers $2.5 Billion In Net Profit For Q3, Bringing Year-To-Date Total To $7.7 Billion 🔍
Tether’s latest attestation report shows that the stablecoin issuer generated $2.5 billion in profit during Q3 2024. This brings its nine-month profit to $7.7 billion, up from $5.2 billion during the first half of 2024. Approximately $1.3 billion of the profits were reportedly derived from yield on U.S. Treasury holdings, while another $1.1 billion was thanks to the unrealised appreciation of the company's gold holdings in the reserve. On that note, the report shows that Tether’s reserves are made up of over $105 billion in cash and cash equivalents, "with a notable $102.5 billion in direct and indirect exposures to U.S. Treasuries."
The report states,
One of the quarter’s highlights is Tether’s Stablecoin issuing companies reaching a new ATH of almost $120 billion USDT in circulation. This represents a 30% growth in USDT tokens issued in 2024 year-to-date or $27.8 billion achieved by the companies and is almost equivalent to the entire market cap of its closest competitor.
https://youtu.be/5XkDzP0vxuQ?si=DEvA5w3uRhWJv7ct
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