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
📣📣 MARKET MOVING NEWS! (06/01/24)
1️⃣ North Korea Was Responsible for Over $600M in Crypto Thefts Last Year: TRM Labs 🤔
According to a recent report published by TRM Labs, groups tied to the Democratic People’s Republic of Korea (DPRK) were responsible for roughly 33% of all crypto stolen through hacks in 2023. Specifically, North Korea-affiliated hackers made off with some $600 million in funds in 2023, bringing the total to almost $3 billion over the past six years.
TRM Labs stated,
Source
2️⃣ Mango Markets Hires Representative To Handle US Regulatory Scrutiny 🇺🇸
Decentralised exchange Mango Markets is reportedly recruiting new resources to handle the ongoing scrutiny from United States regulatory authorities as they pose a wave of "inquiries" related to the October 2022 heist.
Notably, one proposal on Mango’s governance forum has proposed a budget of $250,000 in USDC to be approved by the DAO for the hiring of a representative tasked with addressing inquiries from “some regulators” concerning Mango Markets. Once approved, MangoDAO will be represented by Poland-based company Cyberbyte with a one-year term. The company is owned by crypto developer Adrian Brzeziński, who is also a contributor to Mango Markets. The representative’s responsibilities include hiring legal counsel and facilitating “amicable resolutions to the U.S. regulatory matters.”
Source
3️⃣ DCG Says It Completed Payoff Of All Short-Term Loans From Genesis ❗️
Digital Currency Group has reportedly paid off all short-term loans to institutional investor crypto broker Genesis.
The firm announced,
Source
4️⃣ Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges 🔎
The U.S. spot bitcoin ETFs appear to be one step closer to being launched as the exchanges that will list them filed amended 19b-4 filings on behalf of BlackRock, Grayscale, Fidelity and other issuers. Notably, more than a dozen applicants hope to launch the first spot bitcoin ETFs in the U.S.; it's likely multiple issuers will be approved simultaneously.
Source
5️⃣ Coinbase Acquiring Cyprus-Based Entity To Expand EU Derivatives Offerings 🤝
Crypto exchange Coinbase is reportedly in the process of acquiring a Markets in Financial Instruments Directive 2014 (MiFID II) licensed entity in Cyprus. The acquisition will allow Coinbase to offer cryptocurrency-based derivatives in Europe. The exchange currently only offers spot trading in the EU.
Coinbase stated,
Source
1️⃣ North Korea Was Responsible for Over $600M in Crypto Thefts Last Year: TRM Labs 🤔
According to a recent report published by TRM Labs, groups tied to the Democratic People’s Republic of Korea (DPRK) were responsible for roughly 33% of all crypto stolen through hacks in 2023. Specifically, North Korea-affiliated hackers made off with some $600 million in funds in 2023, bringing the total to almost $3 billion over the past six years.
TRM Labs stated,
North Korea’s hacking prowess demands continuous vigilance and innovation from businesses and governments. Despite notable advancements in cybersecurity among exchanges and increased international collaboration in tracking and recovering stolen funds, 2024 is likely to see further disruption from the world’s most prolific cyber-thief.
Source
2️⃣ Mango Markets Hires Representative To Handle US Regulatory Scrutiny 🇺🇸
Decentralised exchange Mango Markets is reportedly recruiting new resources to handle the ongoing scrutiny from United States regulatory authorities as they pose a wave of "inquiries" related to the October 2022 heist.
Notably, one proposal on Mango’s governance forum has proposed a budget of $250,000 in USDC to be approved by the DAO for the hiring of a representative tasked with addressing inquiries from “some regulators” concerning Mango Markets. Once approved, MangoDAO will be represented by Poland-based company Cyberbyte with a one-year term. The company is owned by crypto developer Adrian Brzeziński, who is also a contributor to Mango Markets. The representative’s responsibilities include hiring legal counsel and facilitating “amicable resolutions to the U.S. regulatory matters.”
Source
3️⃣ DCG Says It Completed Payoff Of All Short-Term Loans From Genesis ❗️
Digital Currency Group has reportedly paid off all short-term loans to institutional investor crypto broker Genesis.
The firm announced,
DCG is pleased to announce that we have completed a payoff of all short-term loans from Genesis. In total, DCG has paid off more than $1 billion of debt to its creditors in just over a year, including nearly $700 million to Genesis, satisfying all obligations currently due. With this milestone behind us, we're looking forward to the next chapter of DCG and the future growth of our industry.
Source
4️⃣ Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges 🔎
The U.S. spot bitcoin ETFs appear to be one step closer to being launched as the exchanges that will list them filed amended 19b-4 filings on behalf of BlackRock, Grayscale, Fidelity and other issuers. Notably, more than a dozen applicants hope to launch the first spot bitcoin ETFs in the U.S.; it's likely multiple issuers will be approved simultaneously.
Source
5️⃣ Coinbase Acquiring Cyprus-Based Entity To Expand EU Derivatives Offerings 🤝
Crypto exchange Coinbase is reportedly in the process of acquiring a Markets in Financial Instruments Directive 2014 (MiFID II) licensed entity in Cyprus. The acquisition will allow Coinbase to offer cryptocurrency-based derivatives in Europe. The exchange currently only offers spot trading in the EU.
Coinbase stated,
Adding such a license to our international portfolio would further support the strong interest we’ve seen in our derivatives offerings and help us capture more of the ~75% of the global crypto market claimed by derivatives.
Source
📣📣 MARKET MOVING NEWS! (07/01/24)
1️⃣ Bitcoin’s First Wallet Receives $1.17M In Surprise Transaction 🕵️♂️
An unknown Bitcoin user sent 26.9 BTC worth $1.17 million to the network’s Genesis wallet — the first ever wallet on the Bitcoin network set up by Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
Specifically, the Bitcoin transaction occurred on Jan. 5 at 1:52 am Eastern Time accompanied by a transaction fee of $100, notably higher than the average. According to blockchain analytics platform Arkham Intelligence, most of the funds originated from a wallet associated with Binance. Notably, Coinbase director Conor Grogan tweeted that the transaction was either Nakamoto waking up and depositing BTC from Binance or someone burning over $1 million. He also suggested that the anonymous transfer could be a weird spot Bitcoin exchange-traded fund marketing scheme.
Source
2️⃣ Crypto-Skeptical Nonprofit Better Markets Urges SEC To Deny Spot Bitcoin ETFs 🧐
The non-partisan nonprofit Better Markets has reportedly submitted a comment letter to the Securities and Exchange Commission (SEC) urging the agency to deny several pending applications for a Bitcoin-trading ETF.
Notably, Better Markets' CEO and co-founder Dennis M. Kelleher argues in the letter that the SEC's approval of a spot Bitcoin ETF would pose a "grave threat" to investors by unleashing a “speculative, volatile, and socially useless financial product” on American investors and retirees. He further stated that the SEC's approval of the product would set a dangerous precedent.
Kelleher wrote,
Source
3️⃣ Blackrock Layoffs Coming As Firm Matures, ESG Pullback And Bitcoin ETF Approval 🔎
According to a Fox Business report, the world's largest asset manager Blackrock is planning to reduce its global workforce by around 3% in the coming days. The report estimates that this means around 600 people will lose their jobs as part of the firm’s “routine internal adjustments.” The report also reveals that BlackRock is expecting approval from the Securities and Exchange Commission for its new Bitcoin "spot" ETF on Wednesday, i.e., Jan 10th – the last day of the window in which the SEC can approve all spot Bitcoin ETF issuers at the same time.
Source
4️⃣ Grayscale Drops MATIC, Adds AVAX, XRP In Funds Rebalance 💰
Asset manager Grayscale has reportedly rebalanced weights for three of its crypto funds - Digital Large Cap Fund (GDLC), DeFi Fund and Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund). Specifically, it removed tokens such as MATIC and added AVAX and XRP. Notably, the new allocations are part of Grayscale’s quarterly review which optimizes the fund’s performance according to the prevailing market conditions, risk assessments and investment objectives.
Source
1️⃣ Bitcoin’s First Wallet Receives $1.17M In Surprise Transaction 🕵️♂️
An unknown Bitcoin user sent 26.9 BTC worth $1.17 million to the network’s Genesis wallet — the first ever wallet on the Bitcoin network set up by Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
Specifically, the Bitcoin transaction occurred on Jan. 5 at 1:52 am Eastern Time accompanied by a transaction fee of $100, notably higher than the average. According to blockchain analytics platform Arkham Intelligence, most of the funds originated from a wallet associated with Binance. Notably, Coinbase director Conor Grogan tweeted that the transaction was either Nakamoto waking up and depositing BTC from Binance or someone burning over $1 million. He also suggested that the anonymous transfer could be a weird spot Bitcoin exchange-traded fund marketing scheme.
Source
2️⃣ Crypto-Skeptical Nonprofit Better Markets Urges SEC To Deny Spot Bitcoin ETFs 🧐
The non-partisan nonprofit Better Markets has reportedly submitted a comment letter to the Securities and Exchange Commission (SEC) urging the agency to deny several pending applications for a Bitcoin-trading ETF.
Notably, Better Markets' CEO and co-founder Dennis M. Kelleher argues in the letter that the SEC's approval of a spot Bitcoin ETF would pose a "grave threat" to investors by unleashing a “speculative, volatile, and socially useless financial product” on American investors and retirees. He further stated that the SEC's approval of the product would set a dangerous precedent.
Kelleher wrote,
The potential for fraud in the spot bitcoin market is so great that the rules of an exchange cannot permit the listing and trading of a spot bitcoin ETP and still be consistent with the requirement that the exchange’s rules be designed to prevent fraud and manipulation and protect investors and the public interest.
Source
3️⃣ Blackrock Layoffs Coming As Firm Matures, ESG Pullback And Bitcoin ETF Approval 🔎
According to a Fox Business report, the world's largest asset manager Blackrock is planning to reduce its global workforce by around 3% in the coming days. The report estimates that this means around 600 people will lose their jobs as part of the firm’s “routine internal adjustments.” The report also reveals that BlackRock is expecting approval from the Securities and Exchange Commission for its new Bitcoin "spot" ETF on Wednesday, i.e., Jan 10th – the last day of the window in which the SEC can approve all spot Bitcoin ETF issuers at the same time.
Source
4️⃣ Grayscale Drops MATIC, Adds AVAX, XRP In Funds Rebalance 💰
Asset manager Grayscale has reportedly rebalanced weights for three of its crypto funds - Digital Large Cap Fund (GDLC), DeFi Fund and Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund). Specifically, it removed tokens such as MATIC and added AVAX and XRP. Notably, the new allocations are part of Grayscale’s quarterly review which optimizes the fund’s performance according to the prevailing market conditions, risk assessments and investment objectives.
Source
🚨New Video Alert!! 🚨
As bullish as the crypto market has been, there has been no shortage of bearish crypto factors lurking around in the background. Obviously, a lot of these have to do with regulations.
The one bearish macro factor that’s been brewing lately relates to DeFi regulations. Basically, an unaccountable an unelected international organisation called IOSCO is trying to coordinate a crackdown.
The craziest part about all of this is that it seems to suggest that regulators not only go after the founder of DeFi protocols, but also the governance token holders, and even the cryptos they exist on.
This is a video you need to watch until the end!
As bullish as the crypto market has been, there has been no shortage of bearish crypto factors lurking around in the background. Obviously, a lot of these have to do with regulations.
The one bearish macro factor that’s been brewing lately relates to DeFi regulations. Basically, an unaccountable an unelected international organisation called IOSCO is trying to coordinate a crackdown.
The craziest part about all of this is that it seems to suggest that regulators not only go after the founder of DeFi protocols, but also the governance token holders, and even the cryptos they exist on.
This is a video you need to watch until the end!
📣📣 MARKET MOVING NEWS! (08/01/24)
1️⃣ ARK's ETF Rebalancing Continues With $20.6M Coinbase Sale 💰
Cathie Wood’s ARK Invest reportedly sold another 133,823 Coinbase shares (COIN) worth $20.6 million on Friday across three of its exchange-traded funds (ETFs). Notably, ARK Invest has a target of no individual stock surpassing 10% weighting of an ETF's value. This explains ARK’s consistent sales of COIN which more than doubled in price in the last three months of 2023. Its largest weighing of Coinbase stock is in its Innovation ETF (ARKK), which holds over $850 million worth of COIN. The latest selling spree has brought its weighting down to 10.04%, suggesting the sales from ARKK could be coming to an end, unless we see another pump in Coinbase's share price.
Source
2️⃣ Honduras Special Zone Officially Recognizes Bitcoin as A Unit of Account ⚖️
Próspera, a special economic zone in Roatan, Honduras, has officially recognized Bitcoin as a unit of account. This means that BTC can now be used to measure the market value of goods and services. Notably, the move comes less than two years after Próspera adopted Bitcoin as legal tender. Jorge Colindres, the acting manager and tax commissioner of Próspera Zone for Employment and Economic Development (ZEDE) who spearheaded the development stated that the motive was to offer more financial freedom to individuals and businesses operating in the area.
Source
3️⃣ Someone Spent $66,000 To Inscribe 9MB of Data onto Bitcoin 🔎
An anonymous Bitcoiner has reportedly spent 1.5 BTC (~$64,000) in fees to inscribe nearly 9 megabytes of encrypted data on the Bitcoin blockchain. The wallet used the fees to create 332 inscriptions at around 11:20 am UTC on Jan. 6. Interestingly, the encrypted data includes a range of English, Greek and mathematics symbols. Another notable detail is that two of the 332 inscriptions are marked with a digital pepperoni pizza - this means it contains sats from the 10,000 BTC used to purchase two Papa John’s pepperoni pizzas from Early Bitcoin contributor Laszlo Hanyecz on May 22, 2010.
Source
4️⃣ Japan’s E-Commerce Giant Mercari Plans to Accept BTC Payments: Report 🤑
According to local media reports, Japan’s digital flea market platform ‘Mercari’ is planning to allow users to purchase products with Bitcoin by June this year. Specifically, Mercari will use its Tokyo-based blockchain subsidiary ‘Mercoin’ to facilitate the BTC payments. Mercoin will serve as an intermediary that transfers bitcoin to the seller in yen, imposing transaction fees similar to those in sales made in fiat currency. It remains unclear if users would be charged the same amount of fees.
Source
5️⃣ Crypto Gateway CoinsPaid Hacked For Over $7.5M — Cyvers 🥶
According to Web3 security firm Cyvers, unauthorised transactions of nearly $7.5 million have been detected on crypto payment gateway CoinsPaid. Specifically, Cyvers’ artificial intelligence system detected multiple irregular transactions on Jan. 6, allowing the withdrawal of $6.1 million worth of digital assets in USDT, ETH, USDC and CoinsPaid’s native token CPD. It also identified unauthorised transactions involving BNB worth more than $1 million, bringing the total amount stolen close to $7.5 million. The attacker has reportedly moved the funds to externally owned accounts (EOAs) and crypto exchanges MEXC, WhiteBit and ChangeNOW.
Source
1️⃣ ARK's ETF Rebalancing Continues With $20.6M Coinbase Sale 💰
Cathie Wood’s ARK Invest reportedly sold another 133,823 Coinbase shares (COIN) worth $20.6 million on Friday across three of its exchange-traded funds (ETFs). Notably, ARK Invest has a target of no individual stock surpassing 10% weighting of an ETF's value. This explains ARK’s consistent sales of COIN which more than doubled in price in the last three months of 2023. Its largest weighing of Coinbase stock is in its Innovation ETF (ARKK), which holds over $850 million worth of COIN. The latest selling spree has brought its weighting down to 10.04%, suggesting the sales from ARKK could be coming to an end, unless we see another pump in Coinbase's share price.
Source
2️⃣ Honduras Special Zone Officially Recognizes Bitcoin as A Unit of Account ⚖️
Próspera, a special economic zone in Roatan, Honduras, has officially recognized Bitcoin as a unit of account. This means that BTC can now be used to measure the market value of goods and services. Notably, the move comes less than two years after Próspera adopted Bitcoin as legal tender. Jorge Colindres, the acting manager and tax commissioner of Próspera Zone for Employment and Economic Development (ZEDE) who spearheaded the development stated that the motive was to offer more financial freedom to individuals and businesses operating in the area.
Source
3️⃣ Someone Spent $66,000 To Inscribe 9MB of Data onto Bitcoin 🔎
An anonymous Bitcoiner has reportedly spent 1.5 BTC (~$64,000) in fees to inscribe nearly 9 megabytes of encrypted data on the Bitcoin blockchain. The wallet used the fees to create 332 inscriptions at around 11:20 am UTC on Jan. 6. Interestingly, the encrypted data includes a range of English, Greek and mathematics symbols. Another notable detail is that two of the 332 inscriptions are marked with a digital pepperoni pizza - this means it contains sats from the 10,000 BTC used to purchase two Papa John’s pepperoni pizzas from Early Bitcoin contributor Laszlo Hanyecz on May 22, 2010.
Source
4️⃣ Japan’s E-Commerce Giant Mercari Plans to Accept BTC Payments: Report 🤑
According to local media reports, Japan’s digital flea market platform ‘Mercari’ is planning to allow users to purchase products with Bitcoin by June this year. Specifically, Mercari will use its Tokyo-based blockchain subsidiary ‘Mercoin’ to facilitate the BTC payments. Mercoin will serve as an intermediary that transfers bitcoin to the seller in yen, imposing transaction fees similar to those in sales made in fiat currency. It remains unclear if users would be charged the same amount of fees.
Source
5️⃣ Crypto Gateway CoinsPaid Hacked For Over $7.5M — Cyvers 🥶
According to Web3 security firm Cyvers, unauthorised transactions of nearly $7.5 million have been detected on crypto payment gateway CoinsPaid. Specifically, Cyvers’ artificial intelligence system detected multiple irregular transactions on Jan. 6, allowing the withdrawal of $6.1 million worth of digital assets in USDT, ETH, USDC and CoinsPaid’s native token CPD. It also identified unauthorised transactions involving BNB worth more than $1 million, bringing the total amount stolen close to $7.5 million. The attacker has reportedly moved the funds to externally owned accounts (EOAs) and crypto exchanges MEXC, WhiteBit and ChangeNOW.
Source
🚨New Video Alert!! 🚨
Welcome back to another week in the wild world of crypto. What better way to start it than a recap of what happened last week! After all, it gives a sense of what’s to come in these tense times.
Obviously this is a reference to the spot Bitcoin ETF and all the anticipation around it. Hundreds of millions of dollars of liquidations await BTC in both directions as Wednesday comes closer.
At the same time there are big questions about what ETH and altcoins will do in response to the Bitcoin ETF news and the inflation print the next day. It’s safe to say that we’re in for a very volatile week.
This is one you need to watch until the end!
Welcome back to another week in the wild world of crypto. What better way to start it than a recap of what happened last week! After all, it gives a sense of what’s to come in these tense times.
Obviously this is a reference to the spot Bitcoin ETF and all the anticipation around it. Hundreds of millions of dollars of liquidations await BTC in both directions as Wednesday comes closer.
At the same time there are big questions about what ETH and altcoins will do in response to the Bitcoin ETF news and the inflation print the next day. It’s safe to say that we’re in for a very volatile week.
This is one you need to watch until the end!
📣📣 MARKET MOVING NEWS! (09/01/24)
1️⃣ BlackRock, VanEck Hand in Amended S-1 Forms for Spot Bitcoin ETFs To Address Final Comments ⚖️
Asset managers BlackRock and VanEck have reportedly filed amended S-1 forms for their respective spot bitcoin ETF applications to address final comments from the Securities and Exchange Commission. The forms filed today show minor changes, including language on what happens if an authorised participant or bitcoin trading counterparty suffers insolvency and other potential conflicts of interest.
However, the most notable details in the filing are the various issuers’ respective fee structures. Specifically, multiple providers are offering zero fees for a limited amount of time, with Bitwise offering the lowest fixed fee of 0.24%, followed by Ark/21Shares with 0.25%, and BlackRock with 0.3%.
Source
2️⃣ Jim Cramer Now Says Bitcoin Is 'Topping Out' 🙌
Former hedge fund manager and host of CNBC’s Mad Money Jim Cramer, who is known for making predictions that go the opposite way, declared that bitcoin was “topping out” during a TV segment on Monday. Notably, Bitcoin added as much as 8% on Monday before giving back some gains, reaching as high as $47,100 for the first time since April 2021.
He stated,
Source
3️⃣ South Korean Upbit Exchange Secures License In Singapore 🚀
South Korean crypto exchange Upbit has officially obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Notably, the MPI license allows Upbit to provide regulated digital payment token (DPT) services to its clients in the city-state. Upbit had previously acquired in-principle approval from the MAS in October last year. The exchange stated that it is "poised to expand its range of offerings" in the country.
Source
4️⃣ North Korean Lazarus Group Moves BTC Around After Weeks Of Inactivity 🧐
According to blockchain intelligence platform Arkham Intelligence, North Korean hacking group Lazarus moved 27.371 BTC (worth $1.2 million) on Jan. 8 after weeks of inactivity. The BTC was sent in two transfers from what the analysts took to be a cryptocurrency mixer. Lazarus Group then sent 3.343 BTC, worth $150,582, to an inactive address they had used before. The Lazarus Group wallet now holds $79 million in wallets tagged by Arkham, including $73 million worth of BTC and $3.4 million worth of ETH.
Source
5️⃣ DeFi Identity Should Be Focus of U.S. Policymakers, CFTC Says 🔎
In a recent report published by the Commodity Futures Trading Commission (CFTC), the U.S. agency has urged policymakers to prioritize finding ways to identify individuals involved in DeFi. Specifically, it stated that policymakers needed focus on digital identity, know your customer (KYC) and anti-money laundering (AML) regimes as well as calibration of privacy in DeFi.
The report stated,
Source
1️⃣ BlackRock, VanEck Hand in Amended S-1 Forms for Spot Bitcoin ETFs To Address Final Comments ⚖️
Asset managers BlackRock and VanEck have reportedly filed amended S-1 forms for their respective spot bitcoin ETF applications to address final comments from the Securities and Exchange Commission. The forms filed today show minor changes, including language on what happens if an authorised participant or bitcoin trading counterparty suffers insolvency and other potential conflicts of interest.
However, the most notable details in the filing are the various issuers’ respective fee structures. Specifically, multiple providers are offering zero fees for a limited amount of time, with Bitwise offering the lowest fixed fee of 0.24%, followed by Ark/21Shares with 0.25%, and BlackRock with 0.3%.
Source
2️⃣ Jim Cramer Now Says Bitcoin Is 'Topping Out' 🙌
Former hedge fund manager and host of CNBC’s Mad Money Jim Cramer, who is known for making predictions that go the opposite way, declared that bitcoin was “topping out” during a TV segment on Monday. Notably, Bitcoin added as much as 8% on Monday before giving back some gains, reaching as high as $47,100 for the first time since April 2021.
He stated,
Let’s stop fooling around. You want bitcoin, buy bitcoin. (But) I think bitcoin is topping out.
Source
3️⃣ South Korean Upbit Exchange Secures License In Singapore 🚀
South Korean crypto exchange Upbit has officially obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Notably, the MPI license allows Upbit to provide regulated digital payment token (DPT) services to its clients in the city-state. Upbit had previously acquired in-principle approval from the MAS in October last year. The exchange stated that it is "poised to expand its range of offerings" in the country.
Source
4️⃣ North Korean Lazarus Group Moves BTC Around After Weeks Of Inactivity 🧐
According to blockchain intelligence platform Arkham Intelligence, North Korean hacking group Lazarus moved 27.371 BTC (worth $1.2 million) on Jan. 8 after weeks of inactivity. The BTC was sent in two transfers from what the analysts took to be a cryptocurrency mixer. Lazarus Group then sent 3.343 BTC, worth $150,582, to an inactive address they had used before. The Lazarus Group wallet now holds $79 million in wallets tagged by Arkham, including $73 million worth of BTC and $3.4 million worth of ETH.
Source
5️⃣ DeFi Identity Should Be Focus of U.S. Policymakers, CFTC Says 🔎
In a recent report published by the Commodity Futures Trading Commission (CFTC), the U.S. agency has urged policymakers to prioritize finding ways to identify individuals involved in DeFi. Specifically, it stated that policymakers needed focus on digital identity, know your customer (KYC) and anti-money laundering (AML) regimes as well as calibration of privacy in DeFi.
The report stated,
The pseudonymity and disintermediation provided in most DeFi systems presents serious concerns for policymakers focused on ensuring AML and countering the financing of terrorism (AML/CFT) regimes are effective and provide appropriate protections and victim recourse for consumers.
Source
🚨 New Video Alert!! 🚨
There is a lot to look ahead in 2024.
Recently, Jessica interviewed Sandeep Nailwal, one of the original founders of the Polygon Network. They spoke about Polygon 2.0, zkEVM, Layer 2s, MATIC and everything about the future of the project and crypto in general.
Not only did Sandeep tell us about some exciting projects they are building but also he gave his take on Vitalik’s “Making Ethereum Cypherpunk Again” post.
All this and more in today’s video!
Enjoy!
There is a lot to look ahead in 2024.
Recently, Jessica interviewed Sandeep Nailwal, one of the original founders of the Polygon Network. They spoke about Polygon 2.0, zkEVM, Layer 2s, MATIC and everything about the future of the project and crypto in general.
Not only did Sandeep tell us about some exciting projects they are building but also he gave his take on Vitalik’s “Making Ethereum Cypherpunk Again” post.
All this and more in today’s video!
Enjoy!