📣📣 MARKET MOVING NEWS! (30/12/23)
1️⃣ FTX Founder Sam Bankman-Fried Won't Face Second Criminal Trial, U.S. Prosecutors Say 🧐
According to a recent letter filed by prosecutors before the New York Federal court, FTX Founder Sam Bankman-Fried will not face a second criminal trial as it would "delay" a "timely and just resolution of the case." The prosecutors also argued that they had already provided ample evidence of SBF’s financial crimes during his tenure at FTX in the original case, making a second trial largely unnecessary. SBF faces a maximum prison sentence of more than 100 years. The sentencing hearing is scheduled for March 2024.
The letter reads,
Source
2️⃣ Invesco Galaxy, Bitwise, WisdomTree, Fidelity Join BTC ETF Revision Rush 🔎
According to a Cointelegraph report, seven of the thirteen applicants for spot Bitcoin ETFs filed the final revision of their Form S-1 applications on Dec. 29. Specifically, the filings were led by BlackRock, Van Eck and Valkyrie and then followed by Invesco Galaxy, Bitwise, WisdomTree and Fidelity.
Notably, Blackrock, Fidelity, WisdomTree and Invesco Galaxy announced their authorized participants in the revised filings. While Invesco Galaxy selected Virtu and JPMorgan, WisdomTree and Fidelity chose Jane Street Capital. BlackRock's updated filing named Jane Street and JPMorgan Securities as “authorised participants.” WisdomTree also chose to maintain in-kind share creation and redemption despite the SEC’s urging to switch to cash.
Source
3️⃣ Former Binance CEO Changpeng Zhao Is Blocked Again From Traveling ⚖️
Judge Richard Jones of the U.S. District Court for the Western District of Washington in Seattle has reportedly denied a second motion from Binance CEO CZ requesting permission to travel outside the country. While the reasons for the second motion were unavailable to the public, CZ’s legal team suggested it involved “medical information regarding Mr. Zhao’s child.”
Source
4️⃣ Compound Finance’s X Account Hacked, Promotes Phishing Site To Steal Crypto ❗️
According to security-focused X accounts Scam Sniffer and Officer’s Notes, DeFi protocol Compound Finance’s X (formerly Twitter) account has been compromised by hackers who are using it to promote a fake phishing site. Notably, the hackers used the account to post an advertisement for “free $COMP tokens,” urging readers to click a link provided. The link leads to a website that looks identical to the protocol’s official website but has been identified as a “Pink Drainer scam website.”
Source
5️⃣ Indonesian Police Shut Down 10 Bitcoin Mining Operations 👮♂️
According to local media reports, Indonesian police authorities have shut down 10 Bitcoin mining operations who allegedly tampered with electrical circuits to power the substantial number of Bitcoin mining machines. They reportedly stole electricity amounting to nearly $1 million in the process. sThe authorities confiscated 1,134 Bitcoin mining machines along with 11 meters of electrical cable and computer equipment from these mining operators.
The authorities stated,
Source
1️⃣ FTX Founder Sam Bankman-Fried Won't Face Second Criminal Trial, U.S. Prosecutors Say 🧐
According to a recent letter filed by prosecutors before the New York Federal court, FTX Founder Sam Bankman-Fried will not face a second criminal trial as it would "delay" a "timely and just resolution of the case." The prosecutors also argued that they had already provided ample evidence of SBF’s financial crimes during his tenure at FTX in the original case, making a second trial largely unnecessary. SBF faces a maximum prison sentence of more than 100 years. The sentencing hearing is scheduled for March 2024.
The letter reads,
Given that practical reality, and the strong public interest in a prompt resolution of this matter, the Government intends to proceed to sentencing on the counts for which the defendant was convicted at trial.
Source
2️⃣ Invesco Galaxy, Bitwise, WisdomTree, Fidelity Join BTC ETF Revision Rush 🔎
According to a Cointelegraph report, seven of the thirteen applicants for spot Bitcoin ETFs filed the final revision of their Form S-1 applications on Dec. 29. Specifically, the filings were led by BlackRock, Van Eck and Valkyrie and then followed by Invesco Galaxy, Bitwise, WisdomTree and Fidelity.
Notably, Blackrock, Fidelity, WisdomTree and Invesco Galaxy announced their authorized participants in the revised filings. While Invesco Galaxy selected Virtu and JPMorgan, WisdomTree and Fidelity chose Jane Street Capital. BlackRock's updated filing named Jane Street and JPMorgan Securities as “authorised participants.” WisdomTree also chose to maintain in-kind share creation and redemption despite the SEC’s urging to switch to cash.
Source
3️⃣ Former Binance CEO Changpeng Zhao Is Blocked Again From Traveling ⚖️
Judge Richard Jones of the U.S. District Court for the Western District of Washington in Seattle has reportedly denied a second motion from Binance CEO CZ requesting permission to travel outside the country. While the reasons for the second motion were unavailable to the public, CZ’s legal team suggested it involved “medical information regarding Mr. Zhao’s child.”
Source
4️⃣ Compound Finance’s X Account Hacked, Promotes Phishing Site To Steal Crypto ❗️
According to security-focused X accounts Scam Sniffer and Officer’s Notes, DeFi protocol Compound Finance’s X (formerly Twitter) account has been compromised by hackers who are using it to promote a fake phishing site. Notably, the hackers used the account to post an advertisement for “free $COMP tokens,” urging readers to click a link provided. The link leads to a website that looks identical to the protocol’s official website but has been identified as a “Pink Drainer scam website.”
Source
5️⃣ Indonesian Police Shut Down 10 Bitcoin Mining Operations 👮♂️
According to local media reports, Indonesian police authorities have shut down 10 Bitcoin mining operations who allegedly tampered with electrical circuits to power the substantial number of Bitcoin mining machines. They reportedly stole electricity amounting to nearly $1 million in the process. sThe authorities confiscated 1,134 Bitcoin mining machines along with 11 meters of electrical cable and computer equipment from these mining operators.
The authorities stated,
As we can see here, this is the PLN box. However, the electricity flow inside it is not the proper flow that should enter the box and be measured by the meter. Instead, what they took is the upper part, where electricity is taken directly from the pole and channelled inside.
Source
🚨 New Video Alert!! 🚨
2023 has been a wild year for crypto, and it looks like 2024 will be even crazier.
This begs the question of what could happen over the next 12 months. Today, we give you ten of our answers.
Most of these predictions are straightforward, and all of them are backed up by data and analysis. Funny enough, many of these predictions are eerily similar to those being made by asset managers.
There is one special crypto predictions that the asset managers haven’t made, however, and it’s one that pertains to you. If you want to find out what it is, you’ll have to watch until the end.
Enjoy!
2023 has been a wild year for crypto, and it looks like 2024 will be even crazier.
This begs the question of what could happen over the next 12 months. Today, we give you ten of our answers.
Most of these predictions are straightforward, and all of them are backed up by data and analysis. Funny enough, many of these predictions are eerily similar to those being made by asset managers.
There is one special crypto predictions that the asset managers haven’t made, however, and it’s one that pertains to you. If you want to find out what it is, you’ll have to watch until the end.
Enjoy!
📣📣 MARKET MOVING NEWS! (31/12/23)
1️⃣ SEC May Notify Approved ETF Issuers by Early Next Week, Ahead Of January 10 Launch 🧐
According to a Reuters report, the U.S. Securities and Exchange Commission may inform asset managers if their spot Bitcoin ETF applications will be approved by Tuesday or Wednesday next week, before the Jan 10th deadline. This includes Ark Investments, 21Shares, Valkyrie, Bitwise, WisdomTree, Franklin Templeton, BlackRock, VanEck, and Invesco.
Source
2️⃣ Chai Payments App, Used To Promote Terra Ecosystem, Didn't Use Crypto: SEC Whistleblower ⚖️
In a recent summary judgment ruling in the Terra Luna case, U.S. District Court Judge Jed Rakoff detailed evidence brought by the SEC that the Chai payments platform never ran on the Terra blockchain.
Notably, Kwon had often promoted the blockchain by stating that the Chai payments app used Terra for its operations. However, an SEC whistleblower, Chai's Chief Product Officer was reportedly told by a former Terraform employee who joined Chai that "there's no crypto going on within Chai." Allegedly, a May 2020 email from a Chai employee states that Chai would “process transaction[s] outside [the] blockchain” and then “write a record on the Terra blockchain in parallel.”
However, Judge Rakoff found that "genuine disputes of material fact linger that preclude summary judgment for any party on the fraud claims." He stated that the SEC's evidence could be less than credible since the aforementioned whistleblower tried to extort Do Kwon and Terra co-founder/Chai founder Daniel Shin after being fired from Chai. The whistleblower's story also reportedly changed over time, such as whether he had direct knowledge of Chai's systems or merely heard about it from employees.
Source
3️⃣ Vitalik Buterin Reveals Ethereum Game Plan For 2024 ❗️
In a series of posts on X (formerly Twitter), Ethereum founder Vitalik Buterin shared the roadmap for Ethereum in 2024, outlining the core priorities for the ecosystem while admitting that there are only minor changes compared to last year.
Notably, there were six main components outlined by Buterin - the merge, the surge, the scourge, the verge, the purge, and the splurge. He also endorsed single-slot finality (SSF) as "the easiest path to resolving a lot of the Ethereum [Proof of Stake] design's current weaknesses" and praised the progress made on L2 networks and with Verkle tree implementations.
Source
4️⃣ Nigerian Exchanges Discouraged By SEC Crypto License Requirements 🔎
According to Nigerian crypto analyst Rume Ophi, many local crypto exchanges are finding it difficult to be operational in the country due to the Nigerian Securities Exchange Commission’s crypto license requirements. Notably, the Nigerian SEC mandates the cost of the minimum paid-up capital requirement to be $556,620 (N500 million naira), making it unaffordable for local exchanges. This will reportedly result in foreign exchanges predominantly being operational in Nigeria instead of having a healthy balance.
Source
1️⃣ SEC May Notify Approved ETF Issuers by Early Next Week, Ahead Of January 10 Launch 🧐
According to a Reuters report, the U.S. Securities and Exchange Commission may inform asset managers if their spot Bitcoin ETF applications will be approved by Tuesday or Wednesday next week, before the Jan 10th deadline. This includes Ark Investments, 21Shares, Valkyrie, Bitwise, WisdomTree, Franklin Templeton, BlackRock, VanEck, and Invesco.
Source
2️⃣ Chai Payments App, Used To Promote Terra Ecosystem, Didn't Use Crypto: SEC Whistleblower ⚖️
In a recent summary judgment ruling in the Terra Luna case, U.S. District Court Judge Jed Rakoff detailed evidence brought by the SEC that the Chai payments platform never ran on the Terra blockchain.
Notably, Kwon had often promoted the blockchain by stating that the Chai payments app used Terra for its operations. However, an SEC whistleblower, Chai's Chief Product Officer was reportedly told by a former Terraform employee who joined Chai that "there's no crypto going on within Chai." Allegedly, a May 2020 email from a Chai employee states that Chai would “process transaction[s] outside [the] blockchain” and then “write a record on the Terra blockchain in parallel.”
However, Judge Rakoff found that "genuine disputes of material fact linger that preclude summary judgment for any party on the fraud claims." He stated that the SEC's evidence could be less than credible since the aforementioned whistleblower tried to extort Do Kwon and Terra co-founder/Chai founder Daniel Shin after being fired from Chai. The whistleblower's story also reportedly changed over time, such as whether he had direct knowledge of Chai's systems or merely heard about it from employees.
Source
3️⃣ Vitalik Buterin Reveals Ethereum Game Plan For 2024 ❗️
In a series of posts on X (formerly Twitter), Ethereum founder Vitalik Buterin shared the roadmap for Ethereum in 2024, outlining the core priorities for the ecosystem while admitting that there are only minor changes compared to last year.
Notably, there were six main components outlined by Buterin - the merge, the surge, the scourge, the verge, the purge, and the splurge. He also endorsed single-slot finality (SSF) as "the easiest path to resolving a lot of the Ethereum [Proof of Stake] design's current weaknesses" and praised the progress made on L2 networks and with Verkle tree implementations.
Source
4️⃣ Nigerian Exchanges Discouraged By SEC Crypto License Requirements 🔎
According to Nigerian crypto analyst Rume Ophi, many local crypto exchanges are finding it difficult to be operational in the country due to the Nigerian Securities Exchange Commission’s crypto license requirements. Notably, the Nigerian SEC mandates the cost of the minimum paid-up capital requirement to be $556,620 (N500 million naira), making it unaffordable for local exchanges. This will reportedly result in foreign exchanges predominantly being operational in Nigeria instead of having a healthy balance.
Source
🚨Rally Report🚨
1INCH NETWORK
The price of 1INCH has rallied by 23% in the past 24 hours.
WHY?!
🎉 1INCH’s recent rally seems to come from speculative trading by South Korean traders on the crypto exchange Upbit.
🚀 Over the past 24 hours, Upbit accounted for 58% of global trading volume for 1INCH, with over $219 million of trade volume.
If you want to buy or trade 1INCH, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
1INCH NETWORK
The price of 1INCH has rallied by 23% in the past 24 hours.
WHY?!
🎉 1INCH’s recent rally seems to come from speculative trading by South Korean traders on the crypto exchange Upbit.
🚀 Over the past 24 hours, Upbit accounted for 58% of global trading volume for 1INCH, with over $219 million of trade volume.
If you want to buy or trade 1INCH, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
📣📣 MARKET MOVING NEWS! (01/01/24)
1️⃣ Cross-Chain Orbit Bridge Reportedly Suffers $82M Exploit ❗️
Orbit Bridge, a cross-chain bridge protocol, has reportedly been exploited by attackers with approximately $82 million in unusual outflows. Notably, the attack occurred just three hours before the new year. The stolen assets were sent to new wallets in five separate transactions, with funds including $50 million in stablecoins (30 million Tether, 10 million DAI, and 10 million USDC), 231 wBTC (about $10 million), and 9,500 eth (about $21.5 million). The Orbit Chain protocol has strong links to the Klaytn network with eight of the largest assets on the Klaytn network by total market cap being wrapped assets on the Orbit Bridge.
Source
2️⃣ NFT Tax Loss Harvesting Spikes as Year-End Deadline Approaches 🤔
On December 31st, NFT traders were reportedly selling worthless tokens in their wallets for pennies in order to offset capital gains on their taxes. Notably, various services which help users offload their worthless NFTs have seen a major uptick in traffic over the past few days as the deadline approached. This includes services such as Harvest.Art, Unsellable NFTs, and Sol Incinerator.
Skyler Hallgren, Unsellable's director of partnerships, stated,
Source
3️⃣ Bitcoin ETF Launch May Be A ‘Let Down’ But Could Attract Trillions Over Time 🔎
According to VanEck adviser Gabor Gurbacs, the “initial impact” of a Bitcoin ETF is being drastically overestimated. Gurbacs stated that he believes that we may only see net inflows of around $100 million from “mostly recycled” money from large institutional investors upon launch. However, in the long term, Gurbacs believes the spot Bitcoin ETF will have a positive impact on Bitcoin price similar to what happened to gold after the launch of gold ETFs. Bloomberg ETF analysts Eric Balchunas and James Seyffart have also agreed with Gurbacs analysis.
Source
1️⃣ Cross-Chain Orbit Bridge Reportedly Suffers $82M Exploit ❗️
Orbit Bridge, a cross-chain bridge protocol, has reportedly been exploited by attackers with approximately $82 million in unusual outflows. Notably, the attack occurred just three hours before the new year. The stolen assets were sent to new wallets in five separate transactions, with funds including $50 million in stablecoins (30 million Tether, 10 million DAI, and 10 million USDC), 231 wBTC (about $10 million), and 9,500 eth (about $21.5 million). The Orbit Chain protocol has strong links to the Klaytn network with eight of the largest assets on the Klaytn network by total market cap being wrapped assets on the Orbit Bridge.
Source
2️⃣ NFT Tax Loss Harvesting Spikes as Year-End Deadline Approaches 🤔
On December 31st, NFT traders were reportedly selling worthless tokens in their wallets for pennies in order to offset capital gains on their taxes. Notably, various services which help users offload their worthless NFTs have seen a major uptick in traffic over the past few days as the deadline approached. This includes services such as Harvest.Art, Unsellable NFTs, and Sol Incinerator.
Skyler Hallgren, Unsellable's director of partnerships, stated,
Most of our users are not looking to get into a different speculative crypto investment; they're looking to make a really straightforward, no-nonsense end-of-year tax strategy […] Back in the middle of the year we did an analysis on about 900 of our users. I realized that the average user realized losses of $4,200. I feel a high level of confidence that there are hundreds of millions of dollars in unrealized losses that are frozen right now.
Source
3️⃣ Bitcoin ETF Launch May Be A ‘Let Down’ But Could Attract Trillions Over Time 🔎
According to VanEck adviser Gabor Gurbacs, the “initial impact” of a Bitcoin ETF is being drastically overestimated. Gurbacs stated that he believes that we may only see net inflows of around $100 million from “mostly recycled” money from large institutional investors upon launch. However, in the long term, Gurbacs believes the spot Bitcoin ETF will have a positive impact on Bitcoin price similar to what happened to gold after the launch of gold ETFs. Bloomberg ETF analysts Eric Balchunas and James Seyffart have also agreed with Gurbacs analysis.
Source
🚨 New Video Alert!! 🚨
Happy Monday, and happy new year! There’s no better way to start the year with a weekly crypto review, and that’s exactly what we’ve got for you today!
Although there wasn’t much in the way of price action last week, there were a few significant developments beneath the surface that could set the stage for a massive rally this week.
At the same time, there have been a few developments which could put a dent in the crypto market, notably the possibility that China will crack down on Tether.
Be sure to stick around until the end to see where last week’s top performing cryptos are headed next!
Happy Monday, and happy new year! There’s no better way to start the year with a weekly crypto review, and that’s exactly what we’ve got for you today!
Although there wasn’t much in the way of price action last week, there were a few significant developments beneath the surface that could set the stage for a massive rally this week.
At the same time, there have been a few developments which could put a dent in the crypto market, notably the possibility that China will crack down on Tether.
Be sure to stick around until the end to see where last week’s top performing cryptos are headed next!
🚨Rally Report🚨
SEI NETWORK
The price of SEI has rallied by 21% in the past 24 hours.
WHY?!
🎉 Investors seem bullish over Sei’s upcoming network upgrade called Sei Zero. The upgrade is projected to make Sei the fastest blockchain in the market while adding other features that let project developers deploy audited smart contracts from EVM-compatible networks and introduce parallelization.
🚀 Additionally, the network has also been seeing some popularity due to the rise of a memecoin within its ecosystem. The memecoin SEIYAN gained 400% in the past week and is reportedly a cult term for SEI holders.
If you want to buy or trade SEI, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
SEI NETWORK
The price of SEI has rallied by 21% in the past 24 hours.
WHY?!
🎉 Investors seem bullish over Sei’s upcoming network upgrade called Sei Zero. The upgrade is projected to make Sei the fastest blockchain in the market while adding other features that let project developers deploy audited smart contracts from EVM-compatible networks and introduce parallelization.
🚀 Additionally, the network has also been seeing some popularity due to the rise of a memecoin within its ecosystem. The memecoin SEIYAN gained 400% in the past week and is reportedly a cult term for SEI holders.
If you want to buy or trade SEI, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
📣📣 MARKET MOVING NEWS! (02/01/24)
1️⃣ Bitcoin Spot ETF Anticipation Boosts BTC Price to Nearly $46K in Strong Start to 2024 🚀
The price of Bitcoin rose above $46,000 (the highest level since April 2022) on Tuesday morning in Asia, kicking the new year off to a fresh start for the crypto markets. Notably, the rally comes from investors’ anticipation of a potential approval of spot Bitcoin ETFs in the United States. While the spot Bitcoin ETF has been speculated to be priced in, the renewed rally comes after a recent Reuters report suggested the SEC could begin notifying ETF sponsors as soon as Tuesday that their applications were to be approved.
Addressing Bitcoin’s price performance, Ryan Lee, chief analyst at Bitget Research stated,
Source
2️⃣ Tellor Altcoin’s Bizarre 150% Pump Then Fall Spark Concerns Of Manipulation 🚨
A relatively unknown altcoin called Tellor (TRB) experienced some suspicious price action on New Year’s Eve as it surged nearly 150% to a new all-time high of $619 before plummeting back to $136 in under 13 hours. Notably, Etherscan data shows the Tellor team had transferred 4,211 TRB (worth roughly $2.4 million at the time) at around 8:41 pm UTC to a Coinbase wallet just as the price spiked – this could have likely contributed to the fall in price.
Further, data from CoinGlass shows that the sudden price drop caused more than $68 million in liquidations as traders likely placed overleveraged bets on the price of TRB rising even further. However, blockchain analytics platform Spot on Chain stated that the price swings could also be attributed to 26% of the circulating supply of TRB being distributed between just 20 "whale" wallets. This small group of whale addresses reportedly began accumulating TRB at prices near $15 and have been gradually depositing their holdings to CEXs to lock in profits.
Source
3️⃣ F1 Team Sauber Agrees to Two-Year Deal With Crypto Casino Stake 🏎
Formula 1 team Sauber has reportedly agreed to a two-year title partnership deal with crypto casino and sports betting platform Stake in 2024. Notably, Stake takes over from Alfa Romeo, which did not extend its sponsorship of Sauber’s C44 past 2023. The Sauber is set to be rebranded as Audi’s factory team in 2026 - leaving a two-year gap for other sponsors to step in on an interim basis.
Team Representative Alessandro Alunni Bravi stated,
Source
4️⃣ Early Mickey Mouse Version Becomes Top NFT On OpenSea After Copyright Expires 📈
Three NFT collections featuring an early version of Walt Disney’s Mickey Mouse mascot have reportedly captured the top three trending NFT collection positions at the OpenSea marketplace. The derivative NFT collections come after a version of Mickey featured in the 1928 short film “Steamboat Willie” became publicly available after its copyright expired on January 1st.
Notably, Steamboat Willie was the first publicly distributed appearance of Mickey Mouse. The NFT collection entitled “Steamboat Willie Public Domain 2024” has hit the number one spot after getting around $1.2 million in trading volume, while another collection called “Steamboat Willie” took the number two spot on the list, and “Steamboat Willie’s Riverboat” took the third highest ranking.
Source
5️⃣ Crypto Phishing Scams Took Almost $300M From 324K Victims In 2023: Report 🔎
1️⃣ Bitcoin Spot ETF Anticipation Boosts BTC Price to Nearly $46K in Strong Start to 2024 🚀
The price of Bitcoin rose above $46,000 (the highest level since April 2022) on Tuesday morning in Asia, kicking the new year off to a fresh start for the crypto markets. Notably, the rally comes from investors’ anticipation of a potential approval of spot Bitcoin ETFs in the United States. While the spot Bitcoin ETF has been speculated to be priced in, the renewed rally comes after a recent Reuters report suggested the SEC could begin notifying ETF sponsors as soon as Tuesday that their applications were to be approved.
Addressing Bitcoin’s price performance, Ryan Lee, chief analyst at Bitget Research stated,
Some analysts from cryptocurrency trading platforms believe that even if the ETF is approved, Bitcoin may not immediately experience a significant rally. There are also some optimistic views, such as influential trader Scott Melker predicting that Bitcoin could surge to $54,000 in the next few days once the SEC approves the ETF. Matrixport predicts that BTC will rise to $50,000 within a month after passing the BTC spot ETF in January.
Source
2️⃣ Tellor Altcoin’s Bizarre 150% Pump Then Fall Spark Concerns Of Manipulation 🚨
A relatively unknown altcoin called Tellor (TRB) experienced some suspicious price action on New Year’s Eve as it surged nearly 150% to a new all-time high of $619 before plummeting back to $136 in under 13 hours. Notably, Etherscan data shows the Tellor team had transferred 4,211 TRB (worth roughly $2.4 million at the time) at around 8:41 pm UTC to a Coinbase wallet just as the price spiked – this could have likely contributed to the fall in price.
Further, data from CoinGlass shows that the sudden price drop caused more than $68 million in liquidations as traders likely placed overleveraged bets on the price of TRB rising even further. However, blockchain analytics platform Spot on Chain stated that the price swings could also be attributed to 26% of the circulating supply of TRB being distributed between just 20 "whale" wallets. This small group of whale addresses reportedly began accumulating TRB at prices near $15 and have been gradually depositing their holdings to CEXs to lock in profits.
Source
3️⃣ F1 Team Sauber Agrees to Two-Year Deal With Crypto Casino Stake 🏎
Formula 1 team Sauber has reportedly agreed to a two-year title partnership deal with crypto casino and sports betting platform Stake in 2024. Notably, Stake takes over from Alfa Romeo, which did not extend its sponsorship of Sauber’s C44 past 2023. The Sauber is set to be rebranded as Audi’s factory team in 2026 - leaving a two-year gap for other sponsors to step in on an interim basis.
Team Representative Alessandro Alunni Bravi stated,
Last season represented the start of Stake’s journey in Formula 1, and the brand’s new role headlining Stake F1 Team represents the natural and exciting next step on this path.
Source
4️⃣ Early Mickey Mouse Version Becomes Top NFT On OpenSea After Copyright Expires 📈
Three NFT collections featuring an early version of Walt Disney’s Mickey Mouse mascot have reportedly captured the top three trending NFT collection positions at the OpenSea marketplace. The derivative NFT collections come after a version of Mickey featured in the 1928 short film “Steamboat Willie” became publicly available after its copyright expired on January 1st.
Notably, Steamboat Willie was the first publicly distributed appearance of Mickey Mouse. The NFT collection entitled “Steamboat Willie Public Domain 2024” has hit the number one spot after getting around $1.2 million in trading volume, while another collection called “Steamboat Willie” took the number two spot on the list, and “Steamboat Willie’s Riverboat” took the third highest ranking.
Source
5️⃣ Crypto Phishing Scams Took Almost $300M From 324K Victims In 2023: Report 🔎
According to blockchain security platform Scam Sniffer’s recently published “2023 Wallet Drainers Report,” over 324,000 crypto users fell victim to phishing scams in 2023, with around $295 million in digital assets lost to wallet drainers.
Notably, the report notes that the shutting down of ‘wallet-drainer-as-a-service’ businesses seems to have no impact on scammers as these “phishing gangs” just take their business elsewhere due to the abundance of platforms providing such services. One of the most common methods employed by these scammers is to hack a project’s official Discord and X (formerly Twitter) accounts and then spread phishing links through posts.
Source
Notably, the report notes that the shutting down of ‘wallet-drainer-as-a-service’ businesses seems to have no impact on scammers as these “phishing gangs” just take their business elsewhere due to the abundance of platforms providing such services. One of the most common methods employed by these scammers is to hack a project’s official Discord and X (formerly Twitter) accounts and then spread phishing links through posts.
Source
🚨Rally Report🚨
INTERNET COMPUTER
The price of ICP has rallied by 14% in the past 24 hours.
WHY?!
🎉 The rally seems to come after a return of favourable sentiments for the project.
🚀 Notably, Sonic – a DEX on ICP experienced a 30% growth in TVL over the past week. This signifies a growing interest in the ICP ecosystem as well.
If you want to buy or trade ICP, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
INTERNET COMPUTER
The price of ICP has rallied by 14% in the past 24 hours.
WHY?!
🎉 The rally seems to come after a return of favourable sentiments for the project.
🚀 Notably, Sonic – a DEX on ICP experienced a 30% growth in TVL over the past week. This signifies a growing interest in the ICP ecosystem as well.
If you want to buy or trade ICP, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
📣📣 MARKET MOVING NEWS! (03/01/24)
1️⃣ Etherscan Acquires Solscan To Expand Blockchain Data Services 🤝
Ethereum block explorer Etherscan has reportedly acquired Solana block explorer Solscan as part of its vision to “improve the accessibility of blockchain data across multiple networks.” Following the acquisition, the team stated that it was planning to integrate additional features across both explorers in order to offer enhanced support.
Matthew Tan, CEO and founder of Etherscan stated,
Source
2️⃣ Radiant Capital Halts Arbitrum Markets After Reported $4.5M Flash Loan Attack ❗️
According to blockchain security firm PeckShield, cross-chain lending protocol Radiant Capital suffered a flash-loan exploit that resulted in the loss of over 1,900 ETH ($4.5 million) earlier today. Notably, the exploit affected one of its newly created USDC Coin (USDC) markets. Radiant Capital has paused its lending and borrowing markets on Arbitrum following the exploit. It also ensured users that no current funds were at risk, and that operations would return to normal after the investigation was completed.
Source
3️⃣ MicroStrategy Co-Founder Saylor to Sell $216 Million Worth of Company Shares 💰
Business intelligence firm MicroStrategy’s executive chairman Michael Saylor has reportedly begun a four-month process of selling $216 million worth of stock options in his firm MicroStrategy.
Notably, Sayler had disclosed his plans for the proceeds during Microstrategy's third-quarter earnings call. He stated,
Source
4️⃣ EU Regulators To Probe Links Between Banks And Crypto Entities 🏦
According to a Financial Times report, the European Banking Authority (EBA) is planning to take additional steps to predict how strains in non-bank financial institutions (NBFIs), including cryptocurrency-related entities, will affect lenders.
Notably, NBFIs currently hold around $219 trillion, almost half of the world's financial assets. The EBA has already taken some action to address the role crypto may play in stressing the system. Specifically, it published draft rules on liquidity and capital requirements for stablecoin issuers in line with the EU's new Markets in Crypto Assets (MiCA) regulation in November. The latest move would reportedly entail the EBA collaborating with the European Systemic Risk Board and Financial Stability Board to understand the impacts of a "shadow banking shock" to the wider system.
Source
5️⃣ Jim Cramer Pulls U-Turn on Bitcoin 🤔
Long-time crypto critic Jim Cramer reversed his previously bearish stance on Bitcoin by calling the asset a “technological marvel” that is “here to stay” during CNBC’s Squawk on the Street show on Tuesday morning. He also passed a comment on how the late Charlie Munger “who was so brilliant on so many things, was blind to this.”
Source
1️⃣ Etherscan Acquires Solscan To Expand Blockchain Data Services 🤝
Ethereum block explorer Etherscan has reportedly acquired Solana block explorer Solscan as part of its vision to “improve the accessibility of blockchain data across multiple networks.” Following the acquisition, the team stated that it was planning to integrate additional features across both explorers in order to offer enhanced support.
Matthew Tan, CEO and founder of Etherscan stated,
The Solscan team has proven their expertise over the years by offering detailed insights and analytics. Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan.
Source
2️⃣ Radiant Capital Halts Arbitrum Markets After Reported $4.5M Flash Loan Attack ❗️
According to blockchain security firm PeckShield, cross-chain lending protocol Radiant Capital suffered a flash-loan exploit that resulted in the loss of over 1,900 ETH ($4.5 million) earlier today. Notably, the exploit affected one of its newly created USDC Coin (USDC) markets. Radiant Capital has paused its lending and borrowing markets on Arbitrum following the exploit. It also ensured users that no current funds were at risk, and that operations would return to normal after the investigation was completed.
Source
3️⃣ MicroStrategy Co-Founder Saylor to Sell $216 Million Worth of Company Shares 💰
Business intelligence firm MicroStrategy’s executive chairman Michael Saylor has reportedly begun a four-month process of selling $216 million worth of stock options in his firm MicroStrategy.
Notably, Sayler had disclosed his plans for the proceeds during Microstrategy's third-quarter earnings call. He stated,
Exercising this option will allow me to address personal obligations as well as acquire additional bitcoin (BTC) to my personal account [...] I continue to be optimistic about MicroStrategy's prospects and should note that my equity stake in the company after these sales will remain very significant.
Source
4️⃣ EU Regulators To Probe Links Between Banks And Crypto Entities 🏦
According to a Financial Times report, the European Banking Authority (EBA) is planning to take additional steps to predict how strains in non-bank financial institutions (NBFIs), including cryptocurrency-related entities, will affect lenders.
Notably, NBFIs currently hold around $219 trillion, almost half of the world's financial assets. The EBA has already taken some action to address the role crypto may play in stressing the system. Specifically, it published draft rules on liquidity and capital requirements for stablecoin issuers in line with the EU's new Markets in Crypto Assets (MiCA) regulation in November. The latest move would reportedly entail the EBA collaborating with the European Systemic Risk Board and Financial Stability Board to understand the impacts of a "shadow banking shock" to the wider system.
Source
5️⃣ Jim Cramer Pulls U-Turn on Bitcoin 🤔
Long-time crypto critic Jim Cramer reversed his previously bearish stance on Bitcoin by calling the asset a “technological marvel” that is “here to stay” during CNBC’s Squawk on the Street show on Tuesday morning. He also passed a comment on how the late Charlie Munger “who was so brilliant on so many things, was blind to this.”
Source
🚨New Video Alert!! 🚨
The crypto market has been rallying hard, but not all coins and tokens are participating equally. ADA has been among the laggards, and it’s left many wondering what’s going on with Cardano.
Today, we bring you up to speed on what is easily one of the most important crypto projects, and also give you our take on what comes next. This includes a thorough price analysis for ADA.
Last not but least, we unpack some of the challenges we foresee for this cryptocurrency. To be blunt, it’s not looking too good, but Cardano has the potential to reverse its fate, and take ADA to new highs.
Enjoy!
The crypto market has been rallying hard, but not all coins and tokens are participating equally. ADA has been among the laggards, and it’s left many wondering what’s going on with Cardano.
Today, we bring you up to speed on what is easily one of the most important crypto projects, and also give you our take on what comes next. This includes a thorough price analysis for ADA.
Last not but least, we unpack some of the challenges we foresee for this cryptocurrency. To be blunt, it’s not looking too good, but Cardano has the potential to reverse its fate, and take ADA to new highs.
Enjoy!
🚨Rally Report🚨
BEAM
The price of BEAM has rallied by 12% in the past 24 hours.
WHY?!
🎉 BEAM’s recent rally seems to be led by whale activity. Notably, a new whale accumulated $2.6M worth of BEAM over multiple transactions in the past 24 hours.
🚀 Interestingly, the wallet seems to also be a top holder of the PEPE memecoin.
If you want to buy or trade BEAM, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
BEAM
The price of BEAM has rallied by 12% in the past 24 hours.
WHY?!
🎉 BEAM’s recent rally seems to be led by whale activity. Notably, a new whale accumulated $2.6M worth of BEAM over multiple transactions in the past 24 hours.
🚀 Interestingly, the wallet seems to also be a top holder of the PEPE memecoin.
If you want to buy or trade BEAM, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
👉➡️ https://www.coinbureau.com/deals/trading/bybit-cb/
📣📣 MARKET MOVING NEWS! (04/01/24)
1️⃣ Gamma Protocol Investigates Potential Attack That Drained Ether 🧐
According to a blockchain security firm PeckShield, a security incident has resulted in almost $500K worth of ETH being drained from Ethereum-based asset management protocol Gamma Strategies. While Gamma Strategies has confirmed the “possible security incident,” it assured users they could still withdraw their funds if needed. It also added that it would reveal further details about the incident after completing its investigation.
Source
2️⃣ South Korea Proposes Ban on Credit Card Payments for Crypto 🇰🇷
According to reports, South Korea’s Financial Services Commission (FSC) has proposed an amendment to the country’s Credit Finance Act. Notably, the amendment seeks to prohibit citizens from purchasing cryptocurrencies using credit cards. The FSC stated that the main reason for the amendment is to limit its crypto traders from buying crypto on foreign crypto exchanges. The regulator stated that the move comes after concerns over the illegal outflow of domestic funds, money laundering and the encouragement of speculative behaviour emerged. The FSC plans to collect public feedback on the amendment proposal until Feb. 13. It’s expected to be reviewed and voted on with the aim of implementation in the first half of 2024.
Source
3️⃣ Goldman Sachs Eyeing Bitcoin ETF Role Via BlackRock and Grayscale: Sources 🔎
According to a CoinDesk report, Wall Street investment bank Goldman Sachs is in talks to be an authorised participant for the bitcoin ETFs that BlackRock and Grayscale want to introduce in the U.S. Notably, Goldman Sachs' role would involve creating and redeeming ETF shares to ensure the products trade in lockstep with their underlying assets. If true, it would join other finance giants in that role, such as JPMorgan Chase, Jane Street and Cantor Fitzgerald.
Source
4️⃣ Binance Places 'Monitoring Tag' On 10 Cryptoassets, Including Monero And Zcash ❗️
Crypto exchange Binance has announced that it will be placing “monitoring tags” on a number of coins and tokens, namely ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC and ZEN. Notably, assets with the ‘monitoring tag’ are at risk of being delisted since they may no longer be meeting the exchange’s listing criteria.
Binance stated,
Source
5️⃣ dYdX Identifies Attacker, Considers Legal Action Over $9M Loss ⚖️
In a ‘post-mortem’ report published yesterday, decentralised exchange dYdX announced that it uncovered the identity of the attacker responsible for the exchange’s v3 platform attack on Nov. 17, 2023. Notably, dYdX confirmed that it is now looking into legal action against the person responsible for stealing $9 million from its insurance fund.
The report also revealed that dYdX improved its v3 trading platform to enhance open-interest monitoring and alerts to prevent similar coordinated attacks in the future. The exchange also added that the enhanced v4 chain is specifically built to mitigate risks like this. It includes a new feature that automatically adjusts the initial margin fraction in response to abnormal price changes.
Source
1️⃣ Gamma Protocol Investigates Potential Attack That Drained Ether 🧐
According to a blockchain security firm PeckShield, a security incident has resulted in almost $500K worth of ETH being drained from Ethereum-based asset management protocol Gamma Strategies. While Gamma Strategies has confirmed the “possible security incident,” it assured users they could still withdraw their funds if needed. It also added that it would reveal further details about the incident after completing its investigation.
Source
2️⃣ South Korea Proposes Ban on Credit Card Payments for Crypto 🇰🇷
According to reports, South Korea’s Financial Services Commission (FSC) has proposed an amendment to the country’s Credit Finance Act. Notably, the amendment seeks to prohibit citizens from purchasing cryptocurrencies using credit cards. The FSC stated that the main reason for the amendment is to limit its crypto traders from buying crypto on foreign crypto exchanges. The regulator stated that the move comes after concerns over the illegal outflow of domestic funds, money laundering and the encouragement of speculative behaviour emerged. The FSC plans to collect public feedback on the amendment proposal until Feb. 13. It’s expected to be reviewed and voted on with the aim of implementation in the first half of 2024.
Source
3️⃣ Goldman Sachs Eyeing Bitcoin ETF Role Via BlackRock and Grayscale: Sources 🔎
According to a CoinDesk report, Wall Street investment bank Goldman Sachs is in talks to be an authorised participant for the bitcoin ETFs that BlackRock and Grayscale want to introduce in the U.S. Notably, Goldman Sachs' role would involve creating and redeeming ETF shares to ensure the products trade in lockstep with their underlying assets. If true, it would join other finance giants in that role, such as JPMorgan Chase, Jane Street and Cantor Fitzgerald.
Source
4️⃣ Binance Places 'Monitoring Tag' On 10 Cryptoassets, Including Monero And Zcash ❗️
Crypto exchange Binance has announced that it will be placing “monitoring tags” on a number of coins and tokens, namely ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC and ZEN. Notably, assets with the ‘monitoring tag’ are at risk of being delisted since they may no longer be meeting the exchange’s listing criteria.
Binance stated,
Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform.
Source
5️⃣ dYdX Identifies Attacker, Considers Legal Action Over $9M Loss ⚖️
In a ‘post-mortem’ report published yesterday, decentralised exchange dYdX announced that it uncovered the identity of the attacker responsible for the exchange’s v3 platform attack on Nov. 17, 2023. Notably, dYdX confirmed that it is now looking into legal action against the person responsible for stealing $9 million from its insurance fund.
The report also revealed that dYdX improved its v3 trading platform to enhance open-interest monitoring and alerts to prevent similar coordinated attacks in the future. The exchange also added that the enhanced v4 chain is specifically built to mitigate risks like this. It includes a new feature that automatically adjusts the initial margin fraction in response to abnormal price changes.
Source
🚨New Video Alert!! 🚨
It’s been a while since we’ve gone down the rabbit hole about something important that everyone needs to know about. Today, we unpack the latest digital ID developments around the world.
These developments are nothing short of depressing, but they need to be talked about. That’s because the mainstream media isn’t telling you what’s going on, probably because you wouldn’t like it.
Thankfully, it appears possible to push back against this dystopian technology. Stick around until the end to find out how you can protect your individual freedom in an increasingly controlled world.
Enjoy!
It’s been a while since we’ve gone down the rabbit hole about something important that everyone needs to know about. Today, we unpack the latest digital ID developments around the world.
These developments are nothing short of depressing, but they need to be talked about. That’s because the mainstream media isn’t telling you what’s going on, probably because you wouldn’t like it.
Thankfully, it appears possible to push back against this dystopian technology. Stick around until the end to find out how you can protect your individual freedom in an increasingly controlled world.
Enjoy!
📣📣 MARKET MOVING NEWS! (05/01/24)
1️⃣ Logan Paul To ‘Personally Commit’ $2.3 Million To Buy Back CryptoZoo NFTs 🤔
In a post published earlier today on X (formerly Twitter), YouTuber Logan Paul announced a buy-back program for CryptoZoo NFT project participants along with a new lawsuit against his two co-creators.
Specifically, the influencer stated that he plans to personally put in over $2.3 million to buy back Base Eggs and Base Animals NFTs from “every person who intended to play” the CryptoZoo game. NFT holders can now reportedly submit claims online until Feb. 8. However, ‘ZOO’ - the ERC-20 token associated with the project, doesn’t seem to be a part of the buy-back program.
Paul stated,
Source
2️⃣ Citi Alumni Plan Bitcoin Securities That Don’t Need SEC Approval 🚀
According to a Bloomberg report, a startup called Receipts Depositary Corporation (RDC) is planning to issue the first Bitcoin depositary receipts to qualified global institutional investors in transactions exempt from registration under the Securities Act of 1933. Notably, RDC is backed by Franklin Templeton and its team boasts of former Citigroup Inc. executives.
The Bitcoin depositary receipts are similar to American depositary receipts that represent foreign stocks. They will be offered to institutions and cleared through the Depository Trust Company (DTC). The offering is expected to go live in the coming weeks.
Ankit Mehta, the co-founder and chief executive of RDC stated,
Source
3️⃣ Grayscale, VanEck and ARK Bitcoin ETFs Register to Trade on Exchanges ⚖️
Asset managers Grayscale, VanEck, and ARK Invest have reportedly gotten approval for the shares of their spot bitcoin ETFs to trade on their respective exchanges. Notably, Grayscale Bitcoin Trust used Form 8-A to register its shares as securities listed on the New York Stock Exchange Arca, while the VanEck Bitcoin Trust and Ark Invest used Form 8-A to register their shares as securities listed on the Cboe BZX Exchange. To clarify, these filings are just part of the required paperwork. Their approval does not mean that the issuers have received the all-important green light from the Securities and Exchange Commission.
Source
4️⃣ Only 39% Of Financial Advisers Believe A Bitcoin ETF Will Be Approved In 2024: Bitwise 🔎
According to a recently published survey by ETF issuer Bitwise, only 39% of U.S.-based financial advisers believe a Bitcoin ETF will be approved this year. Notably, the survey had participants from all across the country, including registered investment advisers (RIAs), financial planners, institutional investors and wirehouse representatives. The survey also found that even if the majority of advisors don’t think it’s likely a Bitcoin ETF will be approved this year, 88% of respondents interested in purchasing Bitcoin on behalf of their clients are waiting for an ETF to be available.
Source
5️⃣ Celsius to Unstake Thousands of Ether, Possibly Easing ETH Selling Pressure 🙌
Crypto lender Celsius is reportedly planning to unstake its Ether holdings as it prepares for “timely distributions to creditors.” Notably, this is expected to ease selling pressure on ETH as Celsius was previously selling staking rewards on the open market to cover costs associated with the reorganisation plan. Data from Arkham show crypto wallets linked to Celsius have staked over $151 million worth of ether, a position on which it likely earned over 4%-5% in annualised yields.
The firm stated,
1️⃣ Logan Paul To ‘Personally Commit’ $2.3 Million To Buy Back CryptoZoo NFTs 🤔
In a post published earlier today on X (formerly Twitter), YouTuber Logan Paul announced a buy-back program for CryptoZoo NFT project participants along with a new lawsuit against his two co-creators.
Specifically, the influencer stated that he plans to personally put in over $2.3 million to buy back Base Eggs and Base Animals NFTs from “every person who intended to play” the CryptoZoo game. NFT holders can now reportedly submit claims online until Feb. 8. However, ‘ZOO’ - the ERC-20 token associated with the project, doesn’t seem to be a part of the buy-back program.
Paul stated,
The buy-back is not intended to compensate those who gambled on the crypto market and lost. It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was ‘not intended as an investment vehicle,’ as outlined in the original WhitePaper.
Source
2️⃣ Citi Alumni Plan Bitcoin Securities That Don’t Need SEC Approval 🚀
According to a Bloomberg report, a startup called Receipts Depositary Corporation (RDC) is planning to issue the first Bitcoin depositary receipts to qualified global institutional investors in transactions exempt from registration under the Securities Act of 1933. Notably, RDC is backed by Franklin Templeton and its team boasts of former Citigroup Inc. executives.
The Bitcoin depositary receipts are similar to American depositary receipts that represent foreign stocks. They will be offered to institutions and cleared through the Depository Trust Company (DTC). The offering is expected to go live in the coming weeks.
Ankit Mehta, the co-founder and chief executive of RDC stated,
We are really a conversion tool for asset owners today, whether they are hedge funds, family offices, corporations, large institutional investors, that want to take their Bitcoin and convert it into a DTC-eligible security and enjoy direct ownership in the US clearances.
Source
3️⃣ Grayscale, VanEck and ARK Bitcoin ETFs Register to Trade on Exchanges ⚖️
Asset managers Grayscale, VanEck, and ARK Invest have reportedly gotten approval for the shares of their spot bitcoin ETFs to trade on their respective exchanges. Notably, Grayscale Bitcoin Trust used Form 8-A to register its shares as securities listed on the New York Stock Exchange Arca, while the VanEck Bitcoin Trust and Ark Invest used Form 8-A to register their shares as securities listed on the Cboe BZX Exchange. To clarify, these filings are just part of the required paperwork. Their approval does not mean that the issuers have received the all-important green light from the Securities and Exchange Commission.
Source
4️⃣ Only 39% Of Financial Advisers Believe A Bitcoin ETF Will Be Approved In 2024: Bitwise 🔎
According to a recently published survey by ETF issuer Bitwise, only 39% of U.S.-based financial advisers believe a Bitcoin ETF will be approved this year. Notably, the survey had participants from all across the country, including registered investment advisers (RIAs), financial planners, institutional investors and wirehouse representatives. The survey also found that even if the majority of advisors don’t think it’s likely a Bitcoin ETF will be approved this year, 88% of respondents interested in purchasing Bitcoin on behalf of their clients are waiting for an ETF to be available.
Source
5️⃣ Celsius to Unstake Thousands of Ether, Possibly Easing ETH Selling Pressure 🙌
Crypto lender Celsius is reportedly planning to unstake its Ether holdings as it prepares for “timely distributions to creditors.” Notably, this is expected to ease selling pressure on ETH as Celsius was previously selling staking rewards on the open market to cover costs associated with the reorganisation plan. Data from Arkham show crypto wallets linked to Celsius have staked over $151 million worth of ether, a position on which it likely earned over 4%-5% in annualised yields.
The firm stated,
Celsius will unstake existing ETH holdings, which have provided valuable staking rewards income to the estate, to offset certain costs incurred throughout the restructuring process. The significant unstaking activity in the next few days will unlock ETH to ensure timely distributions to creditors.
Source