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The latest news from the world of cryptocurrencies. Paid promotion: @gqsoul
Bitcoin Rockets Past $46,000 as ETFs Boost Investor Confidence
📈 Bitcoin (BTC) is on a meteoric rise, smashing through the $46,000 barrier and reaching its highest point in a month. The cryptocurrency's surge can be attributed to steady inflows into US-based funds and the buzz surrounding April's halving event. With a 7.3% gain over the past week, BTC is now trading at around $46,246.
💼 The introduction of new spot Bitcoin ETFs has sparked significant interest, with an impressive streak of 10 consecutive days of net inflows. This influx of capital has pushed the total to a staggering $8 billion this week, highlighting the strong demand from investors.
✅ Notably, two major players in the financial world have made their mark in the crypto space. BlackRock's iShares Bitcoin Trust (IBIT) secured the eighth spot on Morningstar's list with a whopping $2.6 billion in net flows, while Fidelity Wise Origin Bitcoin ETF (FBTC) claimed the tenth spot with $2.2 billion.
El Salvador's Bitcoin Revolution Continues: Bukele Triumphs in Re-election Poll!
📊 A Landslide Victory: President Nayib Bukele is riding high on a wave of support, as early results suggest an overwhelming 85% of the electorate has chosen to keep him at the helm. Not only that, but his party, Nuevas Ideas, is poised to secure a staggering 58 out of 60 seats in the legislative assembly.
📲 Making History: Bukele isn't one to shy away from bold claims, and this time he's raising the stakes even higher. With a touch of bravado, he proclaims, "This is not just a win; it's a world record in democratic history!" It seems El Salvador's political landscape is experiencing seismic shifts.
🔗 Polls and Predictions: While we await the official word from electoral authorities, the numbers seem to align with the findings of respected research firm CID Gallup. Their latest report suggests that Bukele's victory could be even more resounding, with an impressive 87% of voters backing him and his progressive agenda.
🌍 UAE and China Lead the Way with $13.6M CBDC Breakthrough!
🇦🇪 The United Arab Emirates and China have just made history in the world of digital finance, as they successfully conducted their first-ever cross-border central bank digital currency (CBDC) transaction. And it's no small change – we're talking about a whopping $13.6 million!
🤝 This groundbreaking payment took place during the grand celebration of the Central Bank of UAE's 50th anniversary in Abu Dhabi, where high-ranking officials from both nations gathered to witness this momentous occasion.
📱 Thanks to the innovative m-CBDC Bridge platform, digital dirhams and digital yuan were seamlessly exchanged, showcasing the immense potential of digital currencies in facilitating global financial transactions.
🎉 The event was nothing short of spectacular, with nearly a thousand attendees and esteemed guests like Vice President Mansour bin Zayed Al Nahyan and Chinese Ambassador Zhang Yiming gracing the occasion.
🚀 In a true display of collaboration, Mansour and Zhang jointly initiated this landmark payment, officially launching the m-CBDC Bridge's real-time capabilities. It's a significant step forward after the successful pilot phase earlier this year.
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7️⃣ GambleFi, Airdrops & Presales: The Hottest Trends in Crypto! Discover how Betix is leading the charge.
💵 The previous bull market saw clever investors gain big by investing early in emerging projects. Now, it's all about GambleFi - a blend of gaming and DeFi, opening doors to new possibilities.
💯 Introducing Betix: In the GambleFi world, Betix is making waves. Their innovative, no-KYC platform is designed to share profits with players and investors alike. With hundreds of players already on board before launch, Betix is setting a new standard in its prelaunch phase. It's not just a crypto casino, but a full-fledged immersive gaming venture, with BETX airdrops drawing early followers for substantial profit sharing.
🔔 What's the Buzz About? Betix has launched its Seed Sale on GemPad on Jan 30. What makes BETX, their utility token, stand out? It’s deflationary and integral to Betix Casino, offering a 20% discount from the DEX launch price.
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💎 Why Join the Hype? Early adopters and Seed Sale participants will receive $BETX token airdrops – a perk not to be missed. It’s about being part of something at the ground level.
✅ Is Betix Your Next Big Move? With GambleFi heating up, Betix.gg appears to be a potential game-changer. Don't overlook this emerging gem in the GambleFi space.
🔵 Stay in the Loop: Follow @betixcasino on Telegram. Be part of their newly formed channel and stay updated with the latest from Betix!
Binance and SEC Clash Over Evidence Production and Witness Depositions in Ongoing Legal Battle
🔶 The legal battle between Binance and the United States Securities and Exchange Commission (SEC) continues to intensify as court documents shed light on the clash over evidence production and witness depositions in the SEC’s case against the leading cryptocurrency exchange.
🔥 According to a joint status report filed on January 25, the SEC alleges that BAM Trading Services, the parent company of Binance.US, has not fully complied with its information requests. The regulatory body seeks detailed insights into the custody and liquidity of assets, expressing concerns that Binance US might have undisclosed control mechanisms over customer funds, reminiscent of the FTX scandal.
🔶 BAM’s attorneys vehemently refute these allegations, asserting that the company has adhered to all document production requirements stipulated in the consent order and the expedited recovery request. They argue that the SEC’s methods, including issuing a Temporary Restraining Order (TRO) and pursuing expedited discovery, have imposed an undue burden on BAM.
SEC Postpones Decision on BlackRock’s Spot Ethereum ETF to March
🔹 The U.S. Securities and Exchange Commission has delayed its decision on BlackRock’s spot Ethereum exchange-traded fund (ETF) application to March.
💸 According to the SEC’s latest filing, the new decision deadline for BlackRock’s spot Ethereum ETF is set to be March 10, 2024. The Commission will then approve, disapprove, or institute proceedings to determine whether the proposed rule change should be disapproved.
💸 “Section 19(b)(2) of the Act4 provides that within 45 days of the publication of notice of the filing of a proposed rule change,” wrote the SEC, “Or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate.”
🔹 “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” wrote the SEC.
Hut 8 Responds to Short Seller Report Accusing Bitcoin Miner of Malpractice
🪙 Bitcoin miner Hut 8 has expressed confidence in its latest partnership with USBTC following a controversial report released by JCapital Research warning investors of possible risks.
🟡 In a brief response on Jan 19, the company stated that it had read the report and would provide all necessary updates deemed appropriate amid concerns by the wider digital asset community on social media spaces.
🟡 “(Hut 8) is aware of a short report issued on January 18 by J Capital Research, which is a self-proclaimed group of biased activists who clearly disclose that they will profit if a company’s share price declines. Hut 8 is reviewing the report and will provide updates as the Company deems appropriate.”
💵 The Canadian miners expressed full confidence in the current management team and the board of directors following the merger adding that the partnership would achieve growth for all shareholders.
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India Blocks Websites of Offshore Crypto Exchanges After Non-Compliance Warning
🇮🇳 India blocked access to websites of several offshore crypto exchanges, including Binance, Kucoin, OKX , Gate io and many others on January 12 . This action followed the removal of these platforms from the Apple App Store in the country just a few days earlier.
🔥 The move is a consequence of the finance ministry issuing show-cause notices to these platforms on December 28, citing non-compliance with the country’s money laundering laws.
🔥 The notice was directed at Binance, Kucoin, Houbi, Kraken, Gate io, Bittrex, Bitstamp, MEXC Global, and Bitfinex, accusing them of operating illegally in India by failing to register and adhere to local tax regulations.
❔ In response to the alleged violations, the finance ministry instructed the information technology ministry to block the URLs of these platforms, leading to the recent website restrictions. However, the websites of these exchanges can still be accessed through VPNs.
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Perhaps many of you have already heard of the hackers who reveal the deepest secrets of giant business corporations. And they have also showed that at the governmental level the main matter is also business and money (no surprise, though). Those hacktivists have made some noise about South African Defense department, making clear their not so flattering schemes with weapon supply. They have also revealed what France has made with their top secret weapon research leaks and highly classified documents. And now it is a USA turn to step out from the shadow and show everyone what they make with their folks to make money on them.
Security Notification Attachment team welcomes you in their new channel with governmental secrets from the dark side of the net. Stay tuned.
South Korea’s Tax Authority, DAXA Form Committee to Prevent Illegal Transactions: Report
🇰🇷 South Korea’s tax Authority, the Korea Customs Service group and five major cryptocurrency exchanges including Bithumb Korea, Coinone, Korbit, and Streami have formed a group to prevent illegal foreign transactions, according to a report by News1 KR.
🔴 The Digital Asset Exchange Association (DAXA), is comprised of the five most prominent cryptocurrency exchanges in South Korea including Upbit, Bithumb, Coinone, Korbit, and Gopax. DAXA plays an advisory role concerning the new committee.
⚫️ DAXA is the industry’s most important self-regulating body in South Korea. The DAXA members are the only exchanges in the country with the operating permits required to offer fiat-won trading.
🎁 Korea Customs Service was formed in 1970 and is run under the Ministry of Economy and Finance and is headquartered in Seo District, Daejeon in South Korea.
VanEck Commits to Donating 5% of BTC ETF Profits to Bitcoin Developers at Brink
🪙 Asset manager VanEck, a potential provider of a Bitcoin exchange-traded fund (ETF), has revealed plans to donate a portion of the profits from the investment vehicle to Bitcoin core developers upon approval.
🟡 In a post on X (formerly Twitter) on January 5, VanEck announced a 5% pledge to Bitcoin core developers through the nonprofit organization Brink ahead of potential approval for its spot Bitcoin exchange-traded product application. The asset management firm also disclosed that it had already made a $10,000 donation to the developers, irrespective of the SEC’s decision on the investment vehicle.
🟡 The firm expressed appreciation for the developers’ dedication to decentralization and innovation, describing them as the cornerstone of the Bitcoin ecosystem.
💵 VanEck applied for a spot Bitcoin ETF in the United States, with a decision from the U.S. Securities and Exchange Commission (SEC) expected in the coming days. The potential approval of spot Bitcoin ETFs is anticipated to bring a substantial influx of investment from traditional finance (TradFi) into the cryptocurrency space, reaching unprecedented levels.
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Thailand's Digital Asset Hub Takes Off: VAT-Free Crypto Trading Signals New Era
📈 Thailand is making bold moves to establish itself as a digital asset hub, with the Finance Ministry leading the charge by introducing a game-changing policy: no VAT on crypto trading.
💲 The goal? To supercharge fundraising and foster the growth of the digital asset industry, says Bangkok Post. It's all part of Thailand's vision for a thriving digital economy.
💰 Starting January 1, 2024, investors and traders can rejoice as they are exempt from the 7% VAT that used to be levied on their cryptocurrency and digital token earnings. And here's the kicker – this incentive has no expiry date!
🇹🇭 Thailand is sending a clear message to the world: it's time to embrace the future of finance, and they're leading the way with a tax-friendly environment for digital assets. Get ready for a new era of opportunity in the Land of Smiles!
🚀 Revolutionizing Art Monetization: $JAM's Journey Continues!
💰 $20m Funding Secured: Exciting news for the $JAM community! With a successful funding round, the project is ready to amplify its reach. The allocation will fuel strategic initiatives like marketing, enhancing liquidity, and accelerating development. Buckle up for growth!
📱 Mobile App Unveiling Soon: Artists, rejoice! $JAM is taking a leap forward with an upcoming mobile app. This game-changer will empower creators to connect with their fans on the go, fostering a direct and seamless monetization experience. Get ready to unlock new possibilities!
📈 Opportunity Knocks for Bottom Seekers: As the market dynamics shift, $JAM's current price stands at over 90% below its all-time highs. For those eyeing opportunities, this dip could be a potential entry point. Remember, past performance is not indicative of future results – do your research!
🔗 Navigating the Crypto Landscape: $JAM has established its presence across various platforms. From being part of the vibrant decentralized exchange (DEX) ecosystem on SaucerSwap to securing a spot on the renowned centralized exchange (CEX) MEXC, it's building bridges for wider adoption.
📊 Stay Connected, Track Progress: Don't miss out on the latest updates! Follow $JAM on Twitter for real-time insights and engage with the vibrant community. Keep an eye on the charts as you navigate this exciting journey. For more details, visit the official website – where art meets blockchain innovation.
With $JAM paving the way for artists to seize control of their financial destiny, it's time to tune in and witness this groundbreaking fusion of creativity and technology! 🎨💡
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🔴 Block Inc. Takes a Scalpel to Its Workforce: 12,000 is the Magic Number!
📉 Trimming the Fat: Block Inc., under the watchful eye of Jack Dorsey, is wielding the layoff axe with precision, aiming to whittle down its employee count by year-end.
📊 Strategic Downsizing: Business Insider's latest scoop reveals that Block is embarking on a calculated journey to shrink its workforce by about 10, bringing it closer to the coveted 12,000 mark.
📉 The Numbers Game: While exact figures remain hush-hush, insiders whisper that the pink slips could reach nearly 1,000 souls. Ouch!
💵 All Divisions on Notice: From Cash App to Foundational and Square, no corner of Block's empire is immune as Dorsey orchestrates this symphony of efficiency gains and operational fine-tuning.
🚨Love Scams in Crypto: South Korean Exchanges Fight Back!
💔 Romance scams have taken a digital twist in South Korea, with crypto exchanges becoming the battleground against deceit.
🐟 Catfishing and other romantic ruses have become rampant, warns Coinone, one of the leading exchanges. They've blocked a staggering $2.6 million in suspicious transactions, thanks to their robust monitoring system.
⚠️ The alarm bells are ringing louder as the Financial Supervisory Service (FSS) joins the chorus. They caution against falling for online love traps and unsolicited investment advice on social media.
🔒 It's a reminder to be extra cautious, especially when approached by strangers promising investment help – whether they're of the opposite sex or not! Stay alert and keep your crypto safe from heartbreaks and scams.
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Bitcoin Ordinals ‘Genesis Cat’ Sells for $254K in Sotheby’s Digital Art Auction
💰 “Genesis Cat,” a digital art piece created on the Bitcoin blockchain’s Ordinals protocol, was sold for over $250,000 at a recent Sotheby’s auction. Created by artist and engineer Francisco “FAR” Alarcon, “Genesis Cat” is a part of the Quantum Cats collection, produced by the Taproot Wizards group. With the initial estimated price of $15,000 to $20,000, the piece was sold at the impressive $254,000.
🔑 “With over 50 Bids, ‘Genesis Cat’ by @0xfar for Taproot Wizards’ has achieved an impressive $254,000 (6.31 BTC), 12X over the high estimate,” said Sotheby’s. FAR’s work is notable for its exploration of visual arts and technology, often delving into the history of computer-generated graphics and digital imaging.
🔑 “Genesis Cat,” as the only 1/1 artwork in the Quantum Cats collection, holds a unique place in the Bitcoin Ordinals art world. The Quantum Cats collection, the first public collection from Taproot Wizards, is aimed at inspiring innovation and creativity within the Bitcoin ecosystem.
❔ Comprising 3,333 distinct digital cats, the collection combines elements of retro style, cosmic imagery, and Bitcoin lore, reflecting the evolving nature of the Bitcoin protocol and its cultural impact.
South Korean Presidential Office Suggests Reevaluation of Bitcoin ETF Approval
🇰🇷 South Korea‘s Presidential Office has recently proposed reconsideration for the approval of a local spot Bitcoin exchange-traded fund (ETF). According to reports from Maeil Business, the suggestion for reevaluating the spot Bitcoin ETF comes from Sung Tae-yoon, the Chief of Staff for Policy at the South Korean Presidential Office.
⏰ During a briefing, Sung highlighted the government’s interest in aligning local regulations with international standards, suggesting a more open approach towards cryptocurrencies and related financial products like ETFs.
🎁 Responding to the question, “Are you considering institutionalizing Bitcoin?” in briefing, Sung said, “We need to change our country’s legal system appropriately, or things that happen overseas can be accepted in our country.”
Ripple Considers IPO Outside US in Response to SEC’s ‘Hostile’ Stance
🇺🇸 Ripple CEO Brad Garlinghouse has revealed that the company explored IPO options outside the United States, attributing this decision to a challenging relationship with the U.S. Securities and Exchange Commission (SEC).
💵 Speaking at the World Economic Forum in Davos, Switzerland, Garlinghouse expressed concerns about the U.S. Securities and Exchange Commission’s stance. Despite Ripple’s interest in going public, the firm has temporarily shelved its IPO plans amidst the ongoing legal battle with the SEC.
💵 “In the United States, trying to go public with a very hostile regulator that’s approved your S-1, that doesn’t sound like a lot of fun to me,” said Garlinghouse. You know, Coinbase obviously had their S-1 approved and now the SEC is suing them for doing things that were outlined in their S-1.”
🦌 “And I think he’s not acting in the interests of the citizenry, he’s not acting in the interests of the long-term growth of the economy, and I don’t understand it,” said Garlinghouse. “I think at some point there will be a new chair of the SEC, and I think that will be a good thing for the American people.”
Attack on Bitfinex Exchange Involving $15 Billion XRP Transaction Failed: Paolo Ardoino
💀 A transaction involving nearly $15 billion worth of XRP from an unknown wallet to the Bitfinex exchange as part of a “partial payments exploit” has failed.
🔴 The transaction was first brought to the public’s attention by the blockchain tracking account known as Whale Alert, which reported a jaw-dropping transfer of 25.6 billion XRP, nearly half of the cryptocurrency’s circulating supply, from an anonymous wallet to Bitfinex.
🔴 Yet, the excitement was short-lived as Whale Alert promptly deleted the post, citing an issue with reading the Ripple node response that led to an erroneous alert.
🎁 Subsequently, Bitfinex Chief Technology Officer Paolo Ardoino revealed that the colossal transaction was, in fact, an attempted attack on Bitfinex through what is known as a “Partial Payments Exploit.”
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Wintermute Reports 400% Surge in OTC Crypto Trading Volumes for 2023
💎 Wintermute has reported a staggering 400% increase in over-the-counter (OTC) trading volumes for the year 2023 in the midst of a challenging year for crypto exchanges.In the latest report of its OTC performance, the crypto market maker and liquidity provider Wintermute revealed that its OTC trading volume has surged by four times despite the market downturn.
🟢 “From the early resurgence, through a volatile mid-year, ending with a renewed optimism largely fueled by expectations for spot ETF approval,” the report wrote so concluding 2023. “Last year, while the markets took a moment to breathe, we focused on building out our OTC business, increasing our capabilities, and adding new product offerings.”
🟢 In the first half (H1) of 2023, Wintermute’s OTC volumes initially decreased and remained at a lower level, while the second half (H2) has seen a tremendous boost leading to the total amount quadrupled.
💲 “We saw a significant increase in trading activity with the number of trades growing over 6x, making up over 29 million trades,” wrote the report. “We also saw the largest OTC volume week of >$2 billion during this time.”
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dYdX Reveals Post-Mortem Findings: Identifies Attacker and Considers Legal Measures
🎄 Decentralized exchange dYdX has released a post-mortem report detailing the “targeted attack” it experienced on its v3 platform in November. The attack resulted in a $9 million loss from its insurance fund, which represented approximately 40% of its total holdings.
🟢 In the report, dYdX stated that investigative efforts have successfully uncovered the identity of the attacker and that the company is currently engaged in communication with them. Furthermore, the platform is exploring potential legal actions against the perpetrator.
🟢 “dYdX is assisting law enforcement in their investigation of this matter and is assessing all legal options. dYdX is committed to taking any legal action it deems appropriate in these circumstances.”
🌲 According to the findings, the attacker executed a substantial number of 5x leveraged long positions in YFI, the native token of DeFi protocol Yearn Finance, across more than 100 wallets. By purchasing spot YFI tokens using different addresses, the attacker caused the price to surge by 215%, as revealed by dYdX.
China Raises Alarm Over Corrupt Officials Exploiting Cold Storage Cryptocurrency for Illicit Cross-Border Transactions
🇨🇳 Official Chinese media sources have raised concerns regarding the exploitation of cryptocurrencies by corrupt officials for illicit activities. The use of cold storage methods for cryptocurrencies, in particular, has become a cause for alarm as it allows these individuals to discreetly transfer assets out of the country.
🔴 Cold storage refers to the practice of keeping cryptocurrency addresses and private keys offline, typically on hard drives or network disks, to reduce the risk of online theft and hacking. The development highlights the broader challenge faced by governments worldwide in regulating and monitoring the use of digital currencies.
🔴 Cryptocurrencies, known for their decentralized and anonymous nature, can be susceptible to abuse for unlawful activities such as money laundering and illegal fund transfers.
📲 The use of cold storage by corrupt officials is particularly troubling as it enables the covert movement of significant sums without the usual oversight associated with traditional financial transactions. This method of transferring cryptocurrencies out of the country for transactions and redemption makes it difficult for authorities to trace and recover these assets.