📣📣 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!
📣📣 MARKET MOVING NEWS! (10/01/24)
1️⃣ Bitcoin Jumps, Then Dumps to $45K as Fake News About Spot Bitcoin Approval Liquidates $50M 😵💫
Earlier today, the price of BTC saw a rally of 2.5% to a fresh 19-month high of $47,900 after the official SEC X account (formerly Twitter) shared news about the Bitcoin spot ETF being approved.
However, it appears the tweet was the result of an attacker compromising the agency’s X account. As news of this was revealed to be false, bitcoin sharply declined nearly 6% to as low as $45,100. Notably, this resulted in nearly $90 million worth of BTC long and short positions to be liquidated – approximately $50 million in longs and $36 million in shorts.
Source
2️⃣ X Reveals SEC Account Breach Stemmed From Unprotected Phone Number 🥶
According to a preliminary investigation conducted by the safety team of X, the recent compromise of the U.S. Securities and Exchange Commission’s X account was due to a sim swap attack – i.e., someone obtained control over a phone number associated with the account. The SEC reportedly did not have two-factor authentication enabled for its account.
The X team stated,
Source
3️⃣ Apple India Blocks Binance, 9 Other Crypto Exchanges Weeks After FIU Notice ❗️
According to reports, the Apple App Store in India has removed the applications of crypto exchanges Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC from its marketplace. Notably, the move comes just weeks after the Indian Ministry of Finance’s Financial Intelligence Unit (FIU) issued a noncompliance notice against nearly a dozen off-shore crypto exchanges. New users in India who wish to download these applications will no longer be able to access them via the official app store. However, users are still able to access these apps on Google’s Play Store and web versions.
Source
4️⃣ Fox Corp, Polygon Release Blockchain-Powered Tool 'Verify' to Weed Out Deepfakes 🚀
Fox Corporation, a media corporation managing brands such as Fox News, Fox Sports and Tubi Media Group, has reportedly collaborated with the software development firm Polygon Labs to launch Verify - an automated tool that helps to authenticate bona fide articles and images. Notably, Verify is expected to help combat against AI-generated media stories or deepfakes.
Polygon Labs tweeted,
Source
5️⃣ Celsius Creditors Who Withdrew 90 Days Before Bankruptcy Are Asked To Send Money Back ⚖️
Celsius bankruptcy administrators have reportedly filed an intent to notify account holders who withdrew more than $100,000 in the 90 days prior to July 13, 2022, of having to return part of the funds, or face legal action. Specifically, letters will soon be sent to these accounts, instructing them to make a payment of 27.5% of what they withdrew in the affected period. If they comply, they will be eligible for future distributions under the reorganisation plan.
Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog law firm, stated
Source
1️⃣ Bitcoin Jumps, Then Dumps to $45K as Fake News About Spot Bitcoin Approval Liquidates $50M 😵💫
Earlier today, the price of BTC saw a rally of 2.5% to a fresh 19-month high of $47,900 after the official SEC X account (formerly Twitter) shared news about the Bitcoin spot ETF being approved.
However, it appears the tweet was the result of an attacker compromising the agency’s X account. As news of this was revealed to be false, bitcoin sharply declined nearly 6% to as low as $45,100. Notably, this resulted in nearly $90 million worth of BTC long and short positions to be liquidated – approximately $50 million in longs and $36 million in shorts.
Source
2️⃣ X Reveals SEC Account Breach Stemmed From Unprotected Phone Number 🥶
According to a preliminary investigation conducted by the safety team of X, the recent compromise of the U.S. Securities and Exchange Commission’s X account was due to a sim swap attack – i.e., someone obtained control over a phone number associated with the account. The SEC reportedly did not have two-factor authentication enabled for its account.
The X team stated,
Based on our investigation, the compromise was not due to any breach of X’s systems, but rather due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party.
Source
3️⃣ Apple India Blocks Binance, 9 Other Crypto Exchanges Weeks After FIU Notice ❗️
According to reports, the Apple App Store in India has removed the applications of crypto exchanges Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC from its marketplace. Notably, the move comes just weeks after the Indian Ministry of Finance’s Financial Intelligence Unit (FIU) issued a noncompliance notice against nearly a dozen off-shore crypto exchanges. New users in India who wish to download these applications will no longer be able to access them via the official app store. However, users are still able to access these apps on Google’s Play Store and web versions.
Source
4️⃣ Fox Corp, Polygon Release Blockchain-Powered Tool 'Verify' to Weed Out Deepfakes 🚀
Fox Corporation, a media corporation managing brands such as Fox News, Fox Sports and Tubi Media Group, has reportedly collaborated with the software development firm Polygon Labs to launch Verify - an automated tool that helps to authenticate bona fide articles and images. Notably, Verify is expected to help combat against AI-generated media stories or deepfakes.
Polygon Labs tweeted,
With the rise of AI tools and AI-generated media, distinguishing truth from lies is difficult. Proving provenance and authenticity of any given piece of content is now more important than ever. That’s where Verify, by Fox Corporation (built on Polygon PoS), comes in.
Source
5️⃣ Celsius Creditors Who Withdrew 90 Days Before Bankruptcy Are Asked To Send Money Back ⚖️
Celsius bankruptcy administrators have reportedly filed an intent to notify account holders who withdrew more than $100,000 in the 90 days prior to July 13, 2022, of having to return part of the funds, or face legal action. Specifically, letters will soon be sent to these accounts, instructing them to make a payment of 27.5% of what they withdrew in the affected period. If they comply, they will be eligible for future distributions under the reorganisation plan.
Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog law firm, stated
This notice is giving folks who have preference exposure above $100k – meaning that they withdrew $100k or more within 90 days of the filing date – to preemptively settle with the Estate for 27.5% of the amount they withdrew, without getting sued. They still have to vote to accept the plan and not opt-out of the releases. People who do not comply with the above could potentially be sued to recover the preferences they received.
Source
🚨Rally Report🚨
ETHEREUM NAME SERVICE
The price of ENS has rallied by 34% in the past 24 hours.
WHY?!
📈 Part of a broader market rally following the recent approval of a spot Bitcoin ETF in the United States. The bullishness surrounding ENS could also be due to recent speculation of the United States approving a spot Ethereum ETF in the coming months.
🚀 Notably, Ethereum founder Vitalik Buterin described ENS as a "super important" service just one week ago. Vitalik argued that layer-2 blockchains should incorporate ENS domains to improve the user experience across DeFi.
If you want to buy or trade ENS, 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/
ETHEREUM NAME SERVICE
The price of ENS has rallied by 34% in the past 24 hours.
WHY?!
📈 Part of a broader market rally following the recent approval of a spot Bitcoin ETF in the United States. The bullishness surrounding ENS could also be due to recent speculation of the United States approving a spot Ethereum ETF in the coming months.
🚀 Notably, Ethereum founder Vitalik Buterin described ENS as a "super important" service just one week ago. Vitalik argued that layer-2 blockchains should incorporate ENS domains to improve the user experience across DeFi.
If you want to buy or trade ENS, 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! (11/01/24)
1️⃣ Bitcoin Price Rises Above $47,000 After SEC Approval of Spot BTC ETFs 📈
According to a document uploaded on the SEC website, the U.S. Securities and Exchange Commission has approved proposals for 11 spot bitcoin ETFs on an accelerated basis. The 11 spot bitcoin ETFs approved by the SEC are Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin.
While the price of BTC did not immediately react to the Securities and Exchange Commission's approval, it ticked back up above $47,000 in late-day trading. Notably, the shares of the Grayscale Bitcoin Trust (GBTC) (the largest closed-end bitcoin fund which now has permission to convert into an ETF) rose to $40, their highest price since December 2021.
Source
2️⃣ Bitcoin ETF Frenzy Brings Windfall Volume to Decentralized Predictions Platform PolyMarket 🚀
Decentralised betting platform Polymarket emerged as a surprising beneficiary of the U.S. Securities and Exchange Commission’s recent approval of several spot bitcoin exchange-traded funds. Notably, the betting platform experienced a windfall of $5.7 million in trading volume on Wednesday. For context, the daily average trading volume in December was $300,000.
PolyMarket tweeted,
Source
3️⃣ SEC Says It’s Coordinating with FBI To Investigate ‘Compromised’ ETF Tweet 👮♂️
The United States Securities and Exchange Commission is reportedly working with the Federal Bureau of Investigation (FBI) to investigate the recent incident involving a tweet that was issued from the SEC’s compromised Twitter account on Jan. 9.
The SEC also stated that the tweet published by the attacker wasn’t a draft tweet previously made by the agency. This statement follows speculation about the same on Crypto Twitter, with many noting that the language used in the tweet was so closely tailored to Gensler’s typical way of speaking.
Source
4️⃣ Ripple To Buy Back $285M Of Its Shares, Valuing Company At $11B 💰
According to a Reuters report, Ripple Labs is planning a tender offer to buy back a $285 million stake in the company at a valuation of $11.3 billion from early investors and employees. Ripple stated that it plans to spend $500 million in the planned buyback to cover the costs of converting restricted stock units into shares and taxes. Early investors will reportedly be limited to being able to sell as much as 6% of their holdings. Ripple chief executive Brad Garlinghouse confirmed that the company plans to do more share buybacks regularly to provide liquidity for investors and has no plan to go public in the United States any time soon due to regulatory uncertainty.
Source
5️⃣ Twitter Gives Up on NFT Profile Pics, Killing Ethereum Feature for Paying Users ❗️
Social media giant X (formerly Twitter) has reportedly removed support for NFTs from its premium subscription page. Previously, users of the platform could turn their circular profile picture into a hexagon by linking an NFT they owned. While it appears to have been functional as late as Jan. 1, the shape of the display has now been modified back to the standard circle. Twitter has yet to comment publicly on the decision.
Source
1️⃣ Bitcoin Price Rises Above $47,000 After SEC Approval of Spot BTC ETFs 📈
According to a document uploaded on the SEC website, the U.S. Securities and Exchange Commission has approved proposals for 11 spot bitcoin ETFs on an accelerated basis. The 11 spot bitcoin ETFs approved by the SEC are Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin.
While the price of BTC did not immediately react to the Securities and Exchange Commission's approval, it ticked back up above $47,000 in late-day trading. Notably, the shares of the Grayscale Bitcoin Trust (GBTC) (the largest closed-end bitcoin fund which now has permission to convert into an ETF) rose to $40, their highest price since December 2021.
Source
2️⃣ Bitcoin ETF Frenzy Brings Windfall Volume to Decentralized Predictions Platform PolyMarket 🚀
Decentralised betting platform Polymarket emerged as a surprising beneficiary of the U.S. Securities and Exchange Commission’s recent approval of several spot bitcoin exchange-traded funds. Notably, the betting platform experienced a windfall of $5.7 million in trading volume on Wednesday. For context, the daily average trading volume in December was $300,000.
PolyMarket tweeted,
Underrated winner of the Bitcoin ETF approval? Prediction markets. Polymarket did more volume than OpenSea today.
Source
3️⃣ SEC Says It’s Coordinating with FBI To Investigate ‘Compromised’ ETF Tweet 👮♂️
The United States Securities and Exchange Commission is reportedly working with the Federal Bureau of Investigation (FBI) to investigate the recent incident involving a tweet that was issued from the SEC’s compromised Twitter account on Jan. 9.
The SEC also stated that the tweet published by the attacker wasn’t a draft tweet previously made by the agency. This statement follows speculation about the same on Crypto Twitter, with many noting that the language used in the tweet was so closely tailored to Gensler’s typical way of speaking.
Source
4️⃣ Ripple To Buy Back $285M Of Its Shares, Valuing Company At $11B 💰
According to a Reuters report, Ripple Labs is planning a tender offer to buy back a $285 million stake in the company at a valuation of $11.3 billion from early investors and employees. Ripple stated that it plans to spend $500 million in the planned buyback to cover the costs of converting restricted stock units into shares and taxes. Early investors will reportedly be limited to being able to sell as much as 6% of their holdings. Ripple chief executive Brad Garlinghouse confirmed that the company plans to do more share buybacks regularly to provide liquidity for investors and has no plan to go public in the United States any time soon due to regulatory uncertainty.
Source
5️⃣ Twitter Gives Up on NFT Profile Pics, Killing Ethereum Feature for Paying Users ❗️
Social media giant X (formerly Twitter) has reportedly removed support for NFTs from its premium subscription page. Previously, users of the platform could turn their circular profile picture into a hexagon by linking an NFT they owned. While it appears to have been functional as late as Jan. 1, the shape of the display has now been modified back to the standard circle. Twitter has yet to comment publicly on the decision.
Source
🚨 New Video Alert!! 🚨
Solana vs. Ethereum. It’s a question that’s been on everyone’s minds ever since SOL started outperforming the market, and it's been a burning one since ETH has been underperforming.
As most of you will know, almost all of us here at the Coin Bureau hold both ETH and SOL as part of our personal crypto portfolios. We reckon this means that we can give these crypto projects a fair shake.
So today we’re comparing Solana and Ethereum in a series of 5 rounds to determine which one will be the champion in 2024. Spoiler alert: the answer will surprise you (it definitely surprised us!).
You’ll have to stick around to find out…
Solana vs. Ethereum. It’s a question that’s been on everyone’s minds ever since SOL started outperforming the market, and it's been a burning one since ETH has been underperforming.
As most of you will know, almost all of us here at the Coin Bureau hold both ETH and SOL as part of our personal crypto portfolios. We reckon this means that we can give these crypto projects a fair shake.
So today we’re comparing Solana and Ethereum in a series of 5 rounds to determine which one will be the champion in 2024. Spoiler alert: the answer will surprise you (it definitely surprised us!).
You’ll have to stick around to find out…
🚨Rally Report🚨
SUI NETWORK
The price of SUI has rallied by 11% in the past 24 hours.
WHY?!
🎉 The DeFi ecosystem on Sui appears to be growing rapidly. Sui's TVL has crossed the $250M mark and currently sits at $269M. That’s an increase of over 90% in 1 month, +500% in 3 months and +1350% in 6 months.
🚀 Notably, the Sui team recently announced that it had partnered with Karrier One to bring DePIN services powered by the Sui blockchain, including the launch of a Karrier One Decentralized Wireless (DeWi) network token on Sui.
If you want to buy or trade SUI, 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/
SUI NETWORK
The price of SUI has rallied by 11% in the past 24 hours.
WHY?!
🎉 The DeFi ecosystem on Sui appears to be growing rapidly. Sui's TVL has crossed the $250M mark and currently sits at $269M. That’s an increase of over 90% in 1 month, +500% in 3 months and +1350% in 6 months.
🚀 Notably, the Sui team recently announced that it had partnered with Karrier One to bring DePIN services powered by the Sui blockchain, including the launch of a Karrier One Decentralized Wireless (DeWi) network token on Sui.
If you want to buy or trade SUI, 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/
1️⃣ CoinShares Exercises Option to Acquire Valkyrie Funds Following Spot Bitcoin ETF Approval
Investment firm CoinShares has reportedly exercised the option to acquire Valkyrie Funds - an investment advisory business focusing on spot bitcoin ETFs from Valkyrie Investments. Notably, the move comes after Valkyrie's spot bitcoin ETF received SEC approval and started trading on Thursday.
CoinShares CEO Jean-Marie Mognetti stated,
Exercising our option to acquire Valkyrie Funds aims at extending our European success in the U.S., offering unparalleled access to regulated digital asset products to American investors. This expansion is a clear statement of our appetite for acquisition to support our ambition to be a global leader in the digital asset space.
Source
2️⃣ South Korean Financial Regulator Says U.S. Bitcoin ETFs May Violate Local Law
South Korea’s Financial Services Commission (FSC) has stated that the recently-listed U.S. Bitcoin ETFs could potentially violate Korean law. Specifically, the financial regulator stated that the domestic brokerage of a U.S.-listed bitcoin spot ETF by Korean securities firms may potentially conflict with the country’s Virtual Asset User Protection Act and the Capital Markets Act.
Several major South Korean securities firms have suspended the brokerage services of spot bitcoin ETFs, including those from Canada and Germany, as a pre-emptive measure following the cautionary announcement from the country’s financial watchdog.
Source
2️⃣ Bitcoin ETFs Start With a Bang: $4.5 Billion on Day One of Trading
The first day of trading for the much-awaited spot BTC ETFs recorded more than $4.5 billion in total volume across ten spot Bitcoin ETFs. According to Yahoo Finance data, Grayscale’s ETF, the Grayscale Bitcoin Trust (GBTC), was the top performer of the newly listed funds, handling $2.3 billion in volume, followed by BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), with around $1 billion in day one trading volume and Fidelity's Wise Origin Bitcoin Trust (FBTC) ranked third with $688 million traded in spot BTC ETF on the first day of trading.
Source
4️⃣ Terra Founder Do Kwon Asks Court to Delay SEC Trial For Personal Appearance
Terraform Labs co-founder and former chief Do Hyeong Kwon’s legal defence team has reportedly asked a U.S. court to push back the Securities and Exchange Commission trial against him as they do not know when he will be extradited from Montenegro. In the event the Court declines to postpone the trial, Kwon’s counsel has asked that the jury be instructed that his absence and inability to testify be viewed as “not unduly prejudicial to him.”
Source
5️⃣ Vanguard Users Threaten to Close Accounts After Firm Blocks Spot Bitcoin ETFs
Asset manager Vanguard, one of the largest asset managers in the world, has reportedly stated that it won’t offer the new spot Bitcoin ETFs on its brokerage platform as they do not align with its traditional offerings.
Vanguard stated,
Spot bitcoin ETFs will not be available for purchase on the Vanguard platform. We also have no plans to offer Vanguard bitcoin ETFs or other crypto-related products. Our perspective is that these products do not align with our offer focused on asset classes such as equities, bonds, and cash, which Vanguard views as the building blocks of a well-balanced, long-term investment portfolio.
Source
6️⃣ FTX Creditors Seek ‘In-Kind’ Crypto Repayments Instead Of 2022 Low Prices
Several FTX clients have reportedly requested a United States bankruptcy judge to prevent the defunct crypto exchange from valuing their cryptocurrency deposits based on 2022 prices. Notably, they argued that FTX’s approach is hindering them from capitalising on the recent rise in crypto prices.
The filing reads,
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If the court determines that cryptocurrency deposits are not property of the estate then such cryptocurrency (which has appreciated more than $5 billion since the petition date) must be returned to customers in kind and may not be used to pay, among other things, administrative claims.
Source
SUI NETWORK
The price of SUI has rallied by 16% in the past 24 hours.
WHY?!
If you want to buy or trade SUI, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
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1️⃣ SEC Statement on the Hack of Its X Account and the Resulting Fake Bitcoin ETF Approval Announcement
The U.S. Securities and Exchange Commission has released a statement in response to the hack of its X account that led to a fake announcement being issued in the SEC's name saying the regulator had approved a spot bitcoin exchange-traded fund.
A snippet of the statement reads as follows,
Based on information currently available, staff believe that the unauthorized access to the account was terminated between 4:40 pm ET and 5:30 pm ET. The SEC takes its cybersecurity obligations seriously. Commission staff are still assessing the impacts of this incident on the agency, investors, and the marketplace but recognize that those impacts include concerns about the security of the SEC’s social media accounts. The staff also will continue to assess whether additional remedial measures are warranted. Staff are coordinating with appropriate law enforcement and federal oversight entities, including the SEC’s Office of Inspector General, the Federal Bureau of Investigation, and the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, amongst others, in their investigations.
Source
2️⃣ Genesis Pays $8 Million and Forfeits BitLicense to Settle New York Charges
According to a Fortune report, Genesis Global Trading has reached a settlement with the New York Department of Financial Services (DFS) that includes forfeiting its BitLicense, ceasing operations, and paying an $8 million fine.
Superintendent Adrienne Harris of the DFS highlighted the firm's failure to uphold a robust compliance framework stating,
Genesis Global Trading’s failure to maintain a functional compliance program demonstrated a disregard for the Department’s regulatory requirements and exposed the company and its customers to potential threats.
Source
3️⃣ Franklin Templeton's Bitcoin ETF Now the Cheapest After 10 Basis Point Reduction
According to a recent SEC filing, asset manager Franklin Templeton has reduced the fee of its spot Bitcoin ETF (EZBC) from 0.29% to 0.19%. Franklin Templeton's 10 basis-point reduction makes its fund's fee the lowest, replacing that of Bitwise, which charges 0.2%. Additionally, the fund manager will waive off fees for its ETF till the fund reaches assets under management (AUM) of $10 billion or until Aug. 2, 2024,
Source
4️⃣ Taproot Wizards Launch Quantum Cats Collection As Bitcoin Inscriptions
Ordinals developer Taproot Wizards is launching a new collection of NFTs called ‘Quantum Cats’ on the Bitcoin blockchain. Notably, the new project is a tribute to a code developed in the early days of the Bitcoin network by creator Satoshi Nakamoto. Taproots Wizards co-founder Udi Wertheimer explained that the OP_CAT Bitcoin Improvement Proposal (BIP) enables what’s called “covenants,” allowing smart contracts and bridges to be built on Bitcoin. The potential of making Bitcoin quantum-resistant, thanks to OP_CAT, led to the idea of naming the collection Quantum Cats.
Wertheimer stated,
‘OP_CAT’ is an ancient ‘op code’ in Bitcoin that was introduced by Satoshi in the first release but later disabled. OP_CAT is shorthand for ‘concatenate’ in nerd-speak; it’s just a way to put two strings of text together.
Source
5️⃣ Venezuela Kills Off Petro Cryptocurrency
According to local media reports, the Petro (the Venezuelan national cryptocurrency) will cease to operate on Jan. 15. Any remaining Petros are being converted to bolivars, the ailing local currency. Notably, the coin was created in 2018 to help the country evade United States sanctions but was never widely used. The state-run, oil-backed crypto was launched after the country’s fiat currency, the bolivar, declined sharply under pressure from United States sanctions and after Bitcoin had already gained a firm foothold in the country.
Source
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🚨 New Video Alert!! 🚨
If you’ve been in the crypto market for more than a few days, then you’ve probably heard about all the people who have made millions from investing in memecoins.
In theory, investing in memecoins is no different than gambling. In practice though, it seems that memecoins have fundamentals that you can analyse to give you an edge.
In today’s video, we give you what many believe to be impossible: a memecoin strategy based on… fundamentals. With some luck, this will improve your chances of winning it big on the next DOGE.
Enjoy!
If you’ve been in the crypto market for more than a few days, then you’ve probably heard about all the people who have made millions from investing in memecoins.
In theory, investing in memecoins is no different than gambling. In practice though, it seems that memecoins have fundamentals that you can analyse to give you an edge.
In today’s video, we give you what many believe to be impossible: a memecoin strategy based on… fundamentals. With some luck, this will improve your chances of winning it big on the next DOGE.
Enjoy!
CELESTIA
The price of TIA has rallied by 16% in the past 24 hours.
WHY?!
If you want to buy or trade TIA, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
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1️⃣ GameStop To Shut Down NFT Marketplace Due To Regulatory Limbo
In a statement posted to the GameStop website, the gaming retailer announced that it will be phasing out its NFT marketplace next month due to regulatory uncertainty. Specifically, it announced that users have just over two weeks remaining to access its NFT platform.
The announcement reads,
Effective as of February 2, 2024, customers will no longer be able to buy, sell or create NFTs. Your NFTs are on the blockchain and will remain accessible and saleable through other platforms. GameStop has decided to wind down our NFT marketplace due to the continuing regulatory uncertainty of the crypto space.
Source
2️⃣ Google Play Store In India Blocks Binance, OKX In Response To FIU Notice
Google’s Play Store in India has reportedly delisted the apps of crypto exchanges Binance and OKX after the government issued a noncompliance notice against them. Notably, a similar decision was taken by Apple’s App Store in India just a few weeks ago.
The delistings follow a notice sent by the Indian Ministry of Finance’s Financial Intelligence Unit (FIU) to offshore crypto exchanges offering services to citizens of the country. The FIU notice stated that any exchange providing services to Indian users must register as a “reporting entity” and submit statements to the income tax department. The FIU has also proposed that the Ministry of Electronics and Information Technology block the websites of the mentioned exchanges due to non-compliance.
Source
3️⃣ Google Will Allow More Real-Money Games On The Play Store
Google’s Play Store will reportedly support more real-money games (RMG) this year on the platform. The program with extended support for real-money gaming will start in India, Brazil and Mexico in June, with a rollout in more countries planned in the future.
Karan Gambhir, Director of Global Trust & Safety Partnerships at Google stated,
With this policy update, we will also be evolving our service fee model for RMG to reflect the value Google Play provides and to help sustain the Android and Play ecosystems. We are working closely with developers to ensure our new approach reflects the unique economics and various developer earning models of this industry.
Source
4️⃣ SEC Unlikely to Approve Spot Ethereum ETFs 'Any Time Soon,' Says TD Cowen
Investment bank TD Cowen reportedly expects the U.S. Securities and Exchange Commission to not approve spot Ethereum ETFs for the near future. Notably, the initial deadline for approving such funds is in May.
The TD Cowen Washington Research Group stated,
Our expectation is that the agency will not be approving ETPs for other crypto tokens any time soon as we believe the SEC will want to gain experience from Bitcoin ETPs before it approves an Ethereum or other crypto token ETP. The wait might not be as long as 26 months, but it likely would be after the election.
Source
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🚨 New Video Alert!! 🚨
The excitement of the new year is palpable. Talk of a crypto bull market is ratcheting up. This year holds huge opportunities - but also major threats.
In today’s video, we show you how not to fall a victim to scams and rug pulls. We give you ten tips to help you avoid losing thousands.
This is one you need to watch until the end!
The excitement of the new year is palpable. Talk of a crypto bull market is ratcheting up. This year holds huge opportunities - but also major threats.
In today’s video, we show you how not to fall a victim to scams and rug pulls. We give you ten tips to help you avoid losing thousands.
This is one you need to watch until the end!
TONCOIN
The price of TON has rallied by 12% in the past 24 hours.
WHY?!
If you want to buy or trade TON, we have an exclusive $40K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
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1️⃣ Reported ‘Transfer’ Of $15B XRP Was Part Of A Failed Exploit Attempt
According to Bitfinex chief technology officer Paolo Ardoino, a recent transaction involving the transfer of $15B worth of XRP from an unknown wallet to Bitfinex on Jan. 14 never went through. It was reportedly part of a failed “partial payments exploit” attempt. Notably, the transaction was first flagged by the on-chain service WhaleAlerts.
The attacker reportedly sought to trick Bitfinex into taking the transfer as real, which could have possibly opened the door to a hack. However, Bitfinex’s systems flagged the transfers as a “partial payment,” an XRP Ledger feature that allows a payment to succeed by reducing the amount received. The actual transfer was just for a few cents worth of XRP.
Source
2️⃣ United Nations Identifies USDT As Prominent Choice For Fraud In SEA
According to a Financial Times report, the United Nations has published a report warning crypto market participants that the USDT stablecoin has become one of the prominent payment methods for money laundering and scams in Southeast Asia.
The report states,
Online gambling platforms, especially those operating illegally, have emerged as among the most popular vehicles for cryptocurrency-based money launderers, particularly for those using Tether.
Source
3️⃣ Tether's Market Share Grew By 21 Points In 2023, Now Captures Two-Thirds Of Stablecoin Supply
According to data from The Block, stablecoin issuer Tether’s market share grew from 50% to 71% over the course of 2023. Notably, the company recently surpassed 95 billion stablecoins in circulation while its biggest current rival Circle's USDC stablecoin has merely 27 billion tokens in circulation.
Source
4️⃣ Celsius Transfers $125M Of ETH To Exchanges As FTX And Alameda Dump
Crypto lender Celsius has reportedly transferred more than $125 million worth of ETH to crypto exchanges over the past week. Specifically, Celsius transferred $95.5 million worth of ETH to Coinbase, while $29.7 million was transferred to FalconX. The failed crypto lender still reportedly holds more than 550,000 ETH ($1.36 billion) on its books. The transfers come after Celsius announced that it would distribute Bitcoin and ETH to creditors in its recovery plan.
Source
5️⃣ Bitcoin Rent Agreement: Landlord And Tenant Sign BTC Contract
According to local media reports, a landlord and a tenant In Rosario (the third most populated city in Argentina) have sealed a rental agreement where the latter will pay monthly rent in Bitcoin. The contract is reportedly the first of its kind in Argentina, made possible by recent law amendments by the new presidential administration.
Under the sealed contract, the tenant will transfer a monthly payment equal to $100 in Bitcoin through Fiwind, a local crypto platform. Both counterparties to the contract are reportedly experienced crypto users.
Source
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