🚓 Illegal Crypto Mining Crackdown in Siberia: 3,200 Rigs Seized!

👌 Russian police have dealt a heavy blow to illegal crypto mining in Siberia, raiding four data centers and confiscating over 3,200 mining rigs.

📌 The interconnected network of mining centers in Novosibirsk was no match for the authorities, who charged the operators with criminal offenses.

💰 Power provider Rosseti estimates that these miners had been siphoning off a staggering $2.1 million worth of electricity from the grid.

🔍 Police raids were conducted near wastewater plants, in forests, and even close to a city landfill – proving that these operations were anything but discreet.

⚡️ Equipped with state-of-the-art gear, these farms were cunningly stealing power on an "industrial scale," according to Rosseti.

📧 The message is clear: power companies are cracking down on illegal mining, and those caught could face serious consequences, including jail time.

🚨 Breaking: 🇭🇰 Hong Kong To Approve #Bitcoin, Ethereum ETF On Monday – Bloomberg 📃

According to a recent Bloomberg report, Hong Kong's potential approval of Bitcoin and Ethereum ETFs sparks optimism in the crypto market, signaling a significant breakthrough.

👉 Read more

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📣 Japan's Ruling Party Pushes for Crypto Tax Overhaul

📝 Japan's ruling party, the Liberal Democratic Party, is calling for urgent reforms to the country's crypto tax system.

⚡️ The party's web3 project team recently released a comprehensive "White Paper" on April 12, highlighting the need for separate taxation on cryptoasset transactions.

💼 This issue has been flagged as one that requires immediate attention and has been forwarded to the party's Digital Society Promotion unit.

💰 Currently, Japanese law treats crypto trading profits and losses as part of annual income declarations, resulting in varying tax rates from as low as 11% to over 50%.

🌐 While many countries tax crypto gains as capital gains, Japan's unique approach has faced criticism from advocates who have long called for a more favorable tax framework.

✅ However, Prime Minister Fumio Kishida has shown support for the web3 sector, hinting at potential tax reforms and embracing the potential of NFTs for economic growth.

💼 Notably, recent changes have already exempted corporations from paying taxes on unrealized gains, providing a boost to the crypto industry.

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✅ Hidden Road Partners Sets Sights on $120M in Series B Funding, Aiming for $1B Valuation

📈 Citadel Securities-backed prime brokerage firm, Hidden Road Partners, is gearing up for its Series B funding round with an ambitious target of $120 million. The goal? To soar to a market valuation of a cool $1 billion.

🌐 Expanding Horizons: Sources familiar with the matter reveal that Hidden Road has its sights set on the cryptocurrency and foreign exchange markets. This move signals the firm's determination to diversify and tap into the potential of these lucrative sectors.

💼 Founded by a Pro: Launched in 2018 by former SAC Capital and Point72 Asset Management employee Marc Asch, Hidden Road wasted no time making waves in the financial world. Its Series A funding round raked in an impressive $50 million.

🟢 Noteworthy Backers: Castle Island Ventures led the charge during the Series A, with heavyweights like Citadel Securities and Coinbase Ventures joining forces. This star-studded lineup speaks volumes about Hidden Road's appeal and potential.

💼 Prime-Brokerage Powerhouse: With a focus on prime-brokerage services spanning foreign exchange, precious metals, and digital assets, Hidden Road is positioning itself as a one-stop shop for sophisticated investors seeking diverse market exposure.

🔒 Binance's KYC Crusade: In line with Binance's commitment to regulatory compliance, Hidden Road and other prime brokers received a directive to bolster their Know Your Customer (KYC) processes. This move underscores Binance's dedication to transparency and adherence to U.S. regulations.

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🔒 Hedgey Finance Hacked: $44.7 Million Lost in Dual Exploits

💥 Hedgey Finance, a token infrastructure platform, was hit hard on April 19 as two simultaneous exploits drained a staggering $44.7 million from its coffers.

🔓 The hacker behind the attack cleverly used the 'createLockedCampaign' function and swiftly moved funds across multiple blockchains, executing a two-hour heist.

🚨 Ethereum took a hit with $1.9 million gone, but it was the Arbitrum network that suffered the most, losing a whopping $42.8 million in ARB tokens.

🔍 On-chain analysis traced some of the stolen funds to web3 exchange ChangeNOW, while Bybit saw an influx of ill-gotten gains.

💡 In response, Hedgey Finance wasted no time, launching an investigation into their Token Claim Contract and urging users to take advantage of the "End Token Claim" feature for added security.

🔒 Collaborating with security experts both inside and outside their ranks, Hedgey Finance is determined to plug the holes and keep users informed along the way.

📉 While crypto hacks are still a concern, there's a glimmer of hope. A recent PeckShield report revealed that March witnessed a nearly 50% drop in losses compared to February.

💰 Despite this improvement, over 30 hacking incidents in March alone resulted in $187.29 million vanishing into thin air. However, $98.8 million did find its way back to rightful owners.

👌 The first quarter of 2024 brought some relief too, with losses down by 17.5% compared to the same period last year. But make no mistake – hacking remains the primary method of crypto theft.

🎮 Zentry: Uniting Gamers and Rewriting the Rules of Play

🚀 GuildFi's Bold Rebranding: Zentry Takes the Stage

Web3 gaming guild GuildFi, backed by heavyweights like Binance Labs and Coinbase Ventures, is shedding its old skin and emerging as Zentry. This strategic move sets the stage for a thrilling new chapter in the world of gaming.

📣 Token Conversion Program: From GF to ZENT

Zentry isn't just about a fresh coat of paint. It's introducing a token conversion program, allowing loyal holders of the original GuildFi token (GF) to seamlessly transition into the exciting realm of ZENT.

🌐 The Superlayer: Where Gaming Universes Collide

Imagine a world where gamers from all walks of life, regardless of their preferred platform, can come together in one unified economy. Zentry aims to build this dream with its ambitious project, aptly named the Superlayer. It's not just about games; it's about forging connections and creating a digital tapestry that transcends boundaries.

🟢 From Pixels to Reality: Gaming Meets Social Media and IRL

Zentry isn't content with blurring the lines between virtual worlds alone. It wants to weave social media and real-life experiences into this grand tapestry. The result? A new kind of game, where every aspect of your existence can be gamified.

🌟 Jarindr Thitadilaka: Pioneering the Play Economy

Jarindr Thitadilaka, the visionary founder and CEO of Zentry, envisions a future where gaming isn't just a pastime but an integral part of our daily lives. "We're reshaping how gamers are recognized and rewarded," he declares, emphasizing the impact on both our digital and real-world selves.

📈 Web3 Gaming: A Thriving Ecosystem with No Signs of Slowing

The web3 gaming revolution is in full swing, with VC investments pouring in. In 2023 alone, blockchain gaming rounds hit a staggering $1.7 billion, fueling the growth of projects like Immutable's 270-strong game lineup.

⚡️ PORTAL seems to be cooking up some new things with their new launchpad

The debut token on the Portal Launchpad is $SOMO (https://twitter.com/playsomo) and those who stake $PORTAL will be able to receive a guaranteed allocation for the $SOMO sale which is happening on Thursday, 25th April at 11 am EST and I’m expecting this to skyrocket 🤑

Within the niche of Web3 gaming, we’ve seen many successful launches recently such as My Pet Hooligan’s $KARAT – $SOMO could be next. SOMO will quite literally be the Pokemon Go of Web3 and is also a playable 3D game

$SOMO seems to be the next big cook following after $PORTAL’s success, hitting a 3bn FDV and it was the biggest Binance Launchpool launch in history. I would really recommend picking up some $PORTAL and staking via their launchpad for the $SOMO sale➡️ https://launchpad.portalgaming.com

⏺Wallets will be able to purchase up to 1 ETH of $SOMO and to balance the demand against the available allocation – there will be a weighted raffle to give everyone a fair chance. Your chances in the raffle are dictated by your ticket size and how early within the 24 hours you purchase.
The earlier you purchase and the bigger your ticket, the more $SOMO you’re likely to receive. The current presale price terms seem very fair considering other rounds available like Pixelmon’s $MON and Revolving Games’ $RCADE.

✖️ Portal Twitter: https://twitter.com/Portalcoin
✖️ SOMO Twitter: https://twitter.com/playsomo

🔍 Bitcoin Core Developer Claims Runes Protocol Exploits Bitcoin Blockchain’s Design Flaw

🚨 Runes Protocol: A Thorn in Bitcoin's Side
Bitcoin core developer Luke Dashjr has sounded the alarm on the Runes protocol, arguing that it takes advantage of a fundamental design flaw within the Bitcoin blockchain.

🔎 Ordinals vs. Runes: A Clash of Approaches
Dashjr draws attention to the stark contrast between Ordinal Inscriptions and Runes, noting that while Ordinals exploit vulnerabilities, Runes operate within the existing framework of design flaws.

🌊 Congestion Woes and Rising Fees
Runes made waves upon their introduction, but not in a good way. The fungible tokens caused significant network congestion, leading to a surge in transaction fees.

👎 Deviation from Core Principles
Dashjr has long been critical of both Ordinals and Runes, seeing them as straying from Bitcoin's core principles and contributing to blockchain spam.

⚙️ Filtering Out the Runes
To combat the Runes spam, Dashjr suggests adjusting settings in the bitcoin.conf file. However, it seems miners are not heeding this advice, as evidenced by Ocean Mining's recent block dominated by Runes transactions.

💸 Transaction Fees Take a Dive Post-Halving
In a surprising turn of events, Bitcoin transaction fees have plummeted after hitting record highs during the fourth halving. Medium-priority transactions now range from $8 to $10 on average.

📉 From Record-Breaking to Reasonable Fees
The halving block saw an eye-popping $2.4 million in fees paid to ViaBTC, but average fees per user were under $800. Meme coins and NFT enthusiasts flocked to etch their mark on rare satoshis using the Runes protocol.

🚀 Hong Kong Takes the Lead with Asia's First Spot Bitcoin and Ethereum ETFs

💼 The Hong Kong Stock Exchange is making waves in the world of cryptocurrency investments with its latest announcement. On April 30, the exchange proudly unveiled Asia's first spot Bitcoin and Ethereum exchange-traded funds (ETFs).

🌐 As virtual assets gain traction, the demand for ETFs has soared. Since the launch of VA Futures ETFs in late 2022, investor interest has skyrocketed. In fact, by Q1 2024, the average daily turnover for these futures ETFs hit an impressive $51.3 million.

📈 This surge in popularity also translated into substantial net inflows of $529 million during the same period. It's clear that investors are eager to diversify their portfolios and explore new opportunities in the digital realm.

📊 The Hong Kong Stock Exchange has been quick to respond to this growing appetite for virtual asset investments. With a diverse range of exchange-traded products (ETPs) on offer, including ETFs and Leveraged and Inverse Products (L&I Products), it's keeping pace with the evolving market.

🌟 "The introduction of Spot VA ETFs in Hong Kong is yet another milestone for our vibrant ETP ecosystem," enthused Brian Roberts, HKEX's Head of Equities Product Development. "It opens up a whole new asset class for investors to explore."

🏆 The issuers behind these groundbreaking spot Bitcoin and Ethereum ETFs are no strangers to the game. China Asset Management Co., Harvest Global Investments, Bosera International, and HashKey Capital are leading the charge, potentially sparking a fresh wave of competition in this space.

🌍 Looking ahead, HKEX is determined to maintain its position as a global player. With plans to expand its product offerings further, it aims to keep its international marketplace buzzing with innovative investment opportunities.

🌙 MoonPay and PayPal Join Forces to Revolutionize Crypto Trading

🚀 MoonPay, the leading crypto trading platform, has just made a groundbreaking move by teaming up with financial giant PayPal. This exciting partnership, announced on May 2, is set to transform the landscape of digital currency within the United States.

💰 Thanks to this collaboration, MoonPay users can now enjoy a vast selection of over 100 cryptocurrencies, including the ever-popular Bitcoin and Ethereum. What's more, they can make their purchases using a range of payment methods linked to their trusted PayPal accounts.

🟢 This integration marks a significant milestone for MoonPay as it becomes the first platform of its kind to incorporate PayPal. Unlike other platforms limited to Ether or PayPal's USD stablecoin, MoonPay offers a much wider array of digital assets.

📈 CEO Ivan Soto-Wright is thrilled about the impact this partnership will have on conversion rates. He notes that while many banks restrict crypto purchases on debit or credit cards, transactions paid through PayPal have already seen a dramatic increase in success.

🌐 Initially available through MoonPay's direct-to-consumer products like the MoonPay App and desktop, this integration will soon extend its reach beyond the U.S., reaching customers in the United Kingdom and the European Union.

🌍 MoonPay's expansion aligns with its commitment to providing seamless fiat-to-crypto transactions worldwide. Whether it's debit/credit cards, mobile payments like Apple and Google Pay, or local methods based on jurisdiction, MoonPay aims to make crypto accessible to all.

✅ With this game-changing partnership between MoonPay and PayPal, users are no longer limited to just Bitcoin and Ethereum. They can now explore exciting tokens like Solana, Tether, Dogecoin, Cardano, and Polygon – opening up a world of possibilities for their digital investments.

🏆 CoinPoker Unveils $25M CSOP+ Tournament Series: The Ultimate Poker Extravaganza!

📌 Get ready for a poker showdown like no other! From May 5-26, CoinPoker is rolling out the red carpet for the CSOP+ tournament series, promising an eye-popping $25 million in guaranteed prizepools.

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📣 Mark your calendars for the grand finale on Sunday, May 26, when the CSOP+ main events steal the spotlight. With buy-ins catering to all bankrolls – from $50 to $5,000 – there's a seat at the table for everyone. And guess what? High rollers will be vying for a jaw-dropping slice of that $600,000 prizepool!

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