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🔔 MARKET MOVING NEWS! (10/11/24)
1️⃣ Ether Blows Past $3K, Builds Bullish Momentum After Trump's Election Win and Fed Rate Cut 📈
The price of ETH finally broke above the $3,000 threshold early Saturday for the first time since August 2. It rose by 23.39% this week, its biggest gain since May, outperforming BTC's 11.2% gain by a significant margin. This follows pro-crypto Donald Trump's victory in the U.S. election and the Fed rate cut earlier this week. Specifically, investors speculate that regulatory barriers for the digital assets industry will be broken down under the Trump administration.
Source
2️⃣ Crypto Mixer Bitcoin Fog Founder Receives 12.5-Year Prison Sentence 🔒
Bitcoin Fog founder Roman Sterlingov has reportedly been sentenced to 12.5 years in prison. For context, Bitcoin Fog is a decade-old cryptocurrency mixer that the United States government claims is a “go-to money laundering service for criminals.” Sterlingov was arrested by the FBI almost four years ago. In March this year, a jury convicted him on charges of money laundering, conspiracy to launder money, operating an unlicensed money-transmitting business, and transmitting money without a license. In addition to the prison sentence, Sterlingov must pay a “forfeiture money judgment” totalling $395,563,025.39. He is also required to forfeit seized crypto and funds worth approximately $1.76 million.
Source
3️⃣ FTX Sues Exploiter Who Filed Bankruptcy Claim, Scaramucci, Storybook Brawl Developers, And Others To Recoup Funds ‼️
The FTX bankruptcy estate has reportedly filed over 25 lawsuits that seek to claw back funds from various individuals who received funds from FTX. This includes Skybridge Capital CEO Anthony Scaramucci, the team behind StoryBook Brawl, an exploiter who siphoned hundreds of millions of dollars from FTX, and Deltec Bank chairman Jean Chalopin. The lawsuits claim that FTX's investments in the various cases, excluding the exploiter, were worthless or the amounts invested were disproportionate to the value gained.
Source
Next Week in Crypto: Key Events to Watch (Nov 11th - Nov 17th, 2024) 🗓
With the U.S. elections and Fed interest rate decision behind us, next week is shaping up to be another eventful one. From notable token unlocks to important U.S. economic developments, here’s what to keep on your radar:
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Token Unlocks:
🔐November 11 – APT Token Unlock
Aptos (APT) will unlock 11.31 million tokens, worth approximately $113 million, representing 2.18% of its circulating supply.
🔐November 15 – STRK Token Unlock
Starknet (STRK) will unlock 64.00 million tokens, worth approximately $27 million, representing 3.05% of its circulating supply.
🔐November 16 – ARB Token Unlock
Arbitrum (ARB) will unlock 92.65 million tokens, worth approximately $56 million, representing 2.33% of its circulating supply.
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📊 Key U.S. Economic Data Releases & Events
- November 13 – Consumer Price Index (CPI)
- November 14 – Jerome Powell’s Speech
- November 15 – Retail Sales
🔍 The CPI release is arguably the most important data point of the week. With the Fed recently cutting rates by 25 basis points, markets are divided on the likelihood of another cut in December. If CPI shows a downtrend in inflation, a December cut could be on the table, which would likely be bullish for markets. However, if CPI remains sticky or rises, it’s likely that the Fed will hold interest rates steady, dampening risk-on sentiment.
🔍 Next up is Fed Chair Jerome Powell’s speech on November 14 at the "Global Perspectives" event. While not an official FOMC meeting, Powell's comments will be closely watched for signals on the Fed’s outlook regarding inflation, the job market, and consumer strength, which could either reinforce or weaken the case for a December rate cut.
🔍 Finally, the Retail Sales data on November 15 will shed light on consumer spending and the strength of the economy. Strong retail sales can be seen as a source of additional inflationary pressures and a robust economy, which could be bearish for markets. Conversely, weaker sales may signal a slowdown, strengthening the case for easing monetary policy.
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That’s all for this week’s action! Be sure to keep an eye on these events, and we’ll be back with more updates in the next week’s roundup.
🚨New Video Alert!!🚨
The US has over $35.8 trillion in debt. This is an insane number, and it’s a number that’s only going up. As a… not-so-fun bonus fact, the world has roughly $72.7 trillion in debt, meaning that the US alone accounts for almost half of the global debt level. Crazy stuff.
Naturally, this raises a few questions. Can the US repay its debt? More importantly, what happens if it can’t repay its debt, and goes into default? The answers to these questions are about as scary as you’d imagine. A US government debt default would not only cripple the US economy, but it would also send shockwaves around the entire global economy.
So, what can the US do to avoid going into default? Is there even a possibility that the US can get itself out of debt? Today, we aim to find out. We’ll tell you everything you need to know about the US debt pile, how it’s being maintained, and what would happen if the US defaults. This is a video you’ll want to watch ‘til the end.
🔥 Rally Report 🔥
RAYDIUM
The price of RAY has rallied by 14% in the past 24 hours.
WHY?!
▶️ Coinbase has announced that it will support Raydium perpetual futures on Coinbase International Exchange and Coinbase Advanced.
‼️ The opening of RAY-PERP markets will begin on or after 9:30 am UTC on 14th Nov 2024.
If you want to buy or trade RAY, 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 🔥
CRONOS
The price of CRO has rallied by 27% in the past 24 hours.
WHY?!
⚡️ Google Cloud renewed its partnership with Cronos Labs, now becoming the primary validator for the Cronos blockchain.
❓ As the primary validator, Google Cloud is joining a pool of 32 validators on the Cronos Ethereum Virtual Machine (EVM) protocol. Other notable Cronos blockchain validators include Crypto.com, Blockdaemon, Ubisoft and Exaion.
If you want to buy or trade CRO, 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!!🚨
Back in March, Ethereum had one of its biggest upgrades to date. Dencun (Ethereum’s most recent upgrade) was the most important hard fork since the historic Merge that took place in September 2022.
Ethereum’s next hard fork is Pectra, which is set to take place in Q1 2025, and it’s a big one. So big in fact that Ethereum developers have made the decision to split it in two. That’s because it was originally set to include over 20 Ethereum Improvement Proposals, or EIPs. For perspective, the Dencun upgrade had just 9 EIPs.
One of the biggest improvements is with wallets. As a fun bonus fact: the EIP that makes this change is EIP-7702, which replaces EIP-3074 (which had a similar intention, but there were a few flaws). Vitalik Buterin wrote the code for EIP-7702 in just 22 minutes. Crazy stuff.
Anyway, Pectra’s impact will not only improve the user experience (UX) of Ethereum, but it could be the very catalyst that ETH has been crying out for to hit new all time highs. Make no mistake, this could be incredibly bullish for ETH’s price. If you hold ETH, or are thinking of scooping some up, this is a video you’ll want to watch all the way through.
🔥 Rally Report 🔥
ETHENA
The price of ENA has rallied by 30% in the past 24 hours.
WHY?!
❓ The rally follows a recent governance proposal made by Wintermute.
💰 Specifically, the crypto market maker proposed enabling the periodic distribution of a portion of Ethena's protocol revenue to staked ENA (sENA) holders.
If you want to buy or trade ENA, 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/
🚨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!
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🔍 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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🚨 New Video Alert!! 🚨
It’s time for a new roundup on the State of Crypto, courtesy of a new report from a16z, one of Silicon Valley’s most prestigious VCs.
Yes, this is the same a16z founded by Marc Andreessen, the guy who recently turned an AI agent into a memecoin millionaire. These guys are not to be faded!
In today’s video: how stablecoin issuers are flipping nation states; which chains are winning the race for adoption and TVL; how many active crypto users there are in the world today - and much more alpha besides. See you at the like button!
🔥 Rally Report 🔥
CARDANO
The price of ADA has rallied by 32% in the past 24 hours.
WHY?!
📈 The rally follows rumours that Cardano founder Charles Hoskinson could be part of the Trump administration in 2025.
🧐 Notably, the rumours originate from a recent video in which Hoskinson revealed he is setting up a policy office within his company to support cryptocurrency policy development in the United States. However, it does not mention Hoskinson receiving any formal invitation from the upcoming Trump administration to join a crypto policy department.
If you want to buy or trade ADA, 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://youtu.be/uWs-DKJGoV0?si=8HHtqQTxSG_UiABa
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🔔 MARKET MOVING NEWS! (09/11/24)
1️⃣ Ethereum Foundation's Treasury Shrunk 39% Over 2.5 Years to $970M 🧐
The Ethereum Foundation’s recently released financial report reveals that it had $970.2 million in its treasury as of Oct.31. Notably, that’s a 39% decrease from the $1.6 billion it held on March 31, 2022. The foundation reportedly spent $105.4 million in 2022 and $134.9 million last year. The latest disclosure comes after many community members pushed the foundation to be more transparent about its financial holdings.
The reports show that 81.3% of the foundation's treasury is held in crypto, with almost all of that held in ETH. It stated,
We choose to hold the majority of our treasury in ETH. The EF believes in Ethereum’s potential, and our ETH holdings represent that long term perspective. At the same time, the goal of the EF’s treasury is to fund important public goods for the Ethereum ecosystem for years into the future. To achieve this goal we must follow a conservative treasury management policy that ensures we have sufficient resources even in the case of a multi-year market downturn.
This transaction marks Tether Investments’ first crude oil transaction in the region and highlights the company’s expanding role in global commodities trading.
We predict future drops. Users who reinvest their winnings into other markets may be eligible for boosted future rewards and drops.
📣📣 MARKET MOVING NEWS! (08/11/24)
1️⃣ Robinhood Attorney and Others Being Considered For SEC Chair Shortlist ▶️
According to a Reuters report, Robinhood’s chief legal, compliance, and corporate affairs officer Dan Gallagher is being considered for Chair of the U.S. Securities and Exchange Commission. Notably, Gallagher used to serve as a Republican SEC commissioner from 2011 to 2015. Also on the list for SEC chair is Paul Atkins, another former Republican SEC commissioner and CEO of consultancy Patomak Global Partners and Robert Stebbins, a partner at law firm Willkie Farr & Gallagher.
Source
2️⃣ Detroit Will Become The Largest US City To Accept Crypto To Pay Taxes And Fees ‼️
According to an announcement from Detroit’s Office of the Treasury, residents of the city will soon be able to pay their taxes and other city fees with crypto through PayPal. This will make Detroit the largest city in the United States to accept cryptocurrency payments. The crypto payments option is expected to become available in mid-2025.
Mayor Mike Duggan stated,
Detroit is building a technology-friendly environment that empowers residents and entrepreneurs. We are excited to be one of the first major U.S. cities to explore blockchain civic applications and allow residents to use their cryptocurrency as a payment option.
I’m not saying that I’m going to hold onto the equity forever or not. I’m happy to review every offer, but so far I haven’t done anything. But, you know, I’m just a regular shareholder at this point.
https://youtu.be/FqW7TlAY9t0?si=DWXsyAhcVI4e7bTp
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🔔 MARKET MOVING NEWS! (07/11/24)
1️⃣ Avalanche Buys Back $53M Of AVAX Tokens From Terra’s LFG 💰
The Avalanche Foundation has reportedly completed the repurchase of 1.97 million AVAX tokens from the now-defunct Luna Foundation Guard (LFG). Avalanche Foundation claimed that the token buyback is an “important step” in its efforts to support the sustainability of the Avalanche ecosystem.
Source
2️⃣ FTX Co-Founder Gary Wang Seeks To Avoid Prison Time Ahead Of Sentencing 🔒
Lawyers representing FTX co-founder Gary Wang have reportedly asked a United States federal judge to give him no jail time. They highlighted the former executive's cooperation with authorities and stated that he did not know the extent of the exchange's crimes. Wang is set to be sentenced in a New York court on Nov. 20. They also highlighted that Wang was expecting the birth of his son later this month and that a custodial sentence would leave both his wife and soon-to-be-born son without their primary source of financial support.
Source
3️⃣ Polymarket Resolves Presidential Election Contract ⚡️
Crypto prediction market platform Polymarket has finally resolved its Presidential election contract — after seeing over $3.6 billion worth of volume. The market was resolved a few hours after the Associated Press and NBC called the election for Donald Trump. On-chain data shows that a French financial services professional named Theo was the largest winner with a profit of over $47.5 million across the Presidential election contract, the popular vote contract, and various swing state markets.
Source
4️⃣ US Votes in 'Most Pro-Crypto Congress Ever' as Senate Flips Republican ▶️
The Republican Party has secured majority control of the United States Senate. At the time of writing, data from Stand With Crypto (a crypto advocacy group launched by Coinbase) shows that 17 pro-crypto candidates won seats in the Senate compared to 12 anti-crypto candidates. Similarly, 261 pro-crypto candidates won seats in the House of Representatives compared to 116 anti-crypto members. This offers a promising outlook for cryptocurrency regulations in the U.S.
Source
5️⃣ Polymarket Faces Potential Ban in France After Raking in $3.5B from US Election 🔍
According to French news outlet The Big Whale, France's National Gaming Authority is preparing to ban Polymarket for French users. A source close to the authority reportedly told the publication that event contracts are akin to betting activities which are not legal in France. Notably, the regulator’s scrutiny follows the recent profits made by the mysterious French trader who made a bet of more than $30 million on a Donald Trump victory.
Source
6️⃣ Blackrock’s Spot Bitcoin ETF Sees Record-Breaking $4 Billion Traded On Election Day 📈
BlackRock’s iShares Bitcoin Trust (IBIT) reportedly recorded its largest daily trading volume of $4.1 billion on Wednesday evening. Bloomberg Senior ETF Analyst Eric Balchunas noted that this was more than the volume seen by stocks like Berkshire, Netflix or Visa on the same day. He also highlighted that IBIT experienced $1 billion in trading volume in the first 20 minutes of trading on the day following Trump’s win. Other spot BTC ETFs also saw considerable daily trading volumes totalling $6 billion - the largest daily volume since March 14.
Source
https://youtu.be/h_M63ue2XbQ?si=PRoptAUQNy8aaVpB
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https://youtu.be/TtZePI-SmwU?si=SyI_RYDvHLLiuNbK
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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.
Source
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.
Source
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%.
Source
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.
Source
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.
Source
https://youtu.be/Cq2QNglqeqs?feature=shared
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https://youtu.be/8vl_K8xaqJg?si=pkCk5TygT0SbJTuU
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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