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◽Altcoin Alerts, News, Events, ICO/IEO Updates, Research, Tweets and more. 🚩Content posted in this channel should not be considered as investment advice. Invest only at ur own risk.
🔔 JUST IN: Judge Orders Ripple to Pay $125M in Penalties, Ending Four-Year Battle with SEC !
Judge Torres has ordered Ripple to pay $125 million in civil penalties and cease any further violations of securities laws, concluding a nearly four-year legal battle with the SEC. The SEC had originally sought a $2 billion penalty.
▶️ Check More Details Here:
https://twitter.com/EleanorTerrett/status/1821276946921345341
🔔 Binance Labs Backs Solayer, Solana Restaking Protocol !
Binance Labs has invested in Solayer, a Solana restaking protocol, as part of its broader focus on crypto staking and restaking. This investment follows recent support for similar projects across Ethereum, Bitcoin, and Berachain ecosystems.
▶️ Check More Details Here:
https://www.binance.com/en/blog/ecosystem/1538252395823419824
🔔 Bitcoin Falls Below $50,000, Currently Trading at $50,293 !
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⚡️ News Flash - 04 Aug 2024 !
1️⃣ Prosecutor Seeks Jail Time for Crypto.com User Who Accidentally Received $6.8M
Australian prosecutors seek prison time for a couple who accidentally received and spent nearly $7 million USD from Crypto.com due to a payment error.
2️⃣ Amber Group Demands Transparency Following ZKX Shutdown
Amber Group expressed surprise at ZKX's July 31 shutdown, citing economic challenges. The Ethereum-based Starknet protocol ceased due to financial viability issues.
3️⃣ Fed May Cut Rates by 50 Bps in September, November, and 25 Bps in December, WSJ Reports
Due to a weak jobs report, Citi and JPMorgan expect the Fed to cut rates by 50 bps in September and November, and 25 bps in December. CME data shows a 78% chance of a 25 bps cut in September. JPMorgan predicts rates will drop to 3% by Q3 2025.
4️⃣ Jump Trading Converts $410 Million in wstETH to ETH, Moves Funds to Exchanges
Jump Trading redeemed $410 million worth of 120,000 wstETH for ETH, transferring 66,000 ETH ($191.4 million) to exchanges like Binance and OKX since July 25.
5️⃣ US Spot Bitcoin ETFs Experience Largest Single-Day Outflow in 90 Days
On August 2, U.S. spot bitcoin ETFs experienced their largest single-day outflow in over 90 days, totaling $237.45 million.
⚡️ News Flash - 03 Aug 2024 !
1️⃣ Crypto Community Criticizes WazirX's 'Socialized Losses' Plan Following Hack
Following the $230 million hack of WazirX, the exchange's "socialized losses" plan—where losses are shared among users—has faced strong backlash. A user poll reportedly revealed widespread disapproval of this approach.
2️⃣ Over 2,200 Letters Urge U.S. Senators to Support 'Strategic Bitcoin Reserve' Bill
Over 2,200 letters were sent to U.S. senators urging support for Senator Cynthia Lummis’s Strategic Bitcoin Reserve bill, demonstrating bipartisan interest in Bitcoin’s strategic value.
3️⃣ XRP Ledger Sees 65.6% Drop in On-Chain Transactions in Q2 2024
In Q2 2024, XRP Ledger transactions dropped 65.6% to 86.38 million, and transaction costs surged 168% to 0.00394 XRP, according to Ripple’s report.
4️⃣ HashKey’s OTC Trading Unit Receives Payment License from Singapore
HashKey Group’s OTC arm has been granted a payment license by the Monetary Authority of Singapore, allowing it to provide digital payment token services. This follows its earlier in-principle approval for a Major Payment Institution license.
5️⃣ Dogwifhat Open Interest Falls 28% as $1.50 Retest Concerns Rise
Solana-based memecoin Dogwifhat (WIF) has seen its open interest drop to $252.5 million as of August 3, down 28% from $353.4 million on July 27. This decline follows a broader price drop and indicates traders are anticipating a test of a key support level.
🔔 CFTC Issues Subpoena to Ben ‘BitBoy’ Armstrong’s Former Company in Fraud Investigation, Focuses on Token Activities !
The CFTC is investigating potential fraud involving 15 tokens, including BEN. The agency subpoenaed Hit Network on July 16, seeking details on trading and wallets. The probe follows content featuring these tokens by BitBoy Crypto’s Ben Armstrong, though Armstrong is not specifically mentioned in the subpoena.
▶️ Check More Details Here:
https://www.theblock.co/post/309213/cftc-subpoenas-ben-bitboy-armstrongs-former-company-in-fraud-investigation-asks-about-activity-for-tokens-such-as-ben
🔔 Donald Trump Suggests Paying Off $35 Trillion Debt with Crypto or Bitcoin !
▶️ Check More Details Here:
https://www.foxbusiness.com/video/6359799256112
🔔 Ark Invest Sells $6.9 Million in Spot Bitcoin ETF and Increases Coinbase Share Sales !
On August 1, Ark Invest sold 108,751 shares of its ARKB Bitcoin ETF and reduced its holdings in Coinbase by offloading 31,517 shares from ARKW and 37,552 shares from ARKF. The ARKB ETF saw $22.4 million in net outflows, despite overall inflows into spot Bitcoin ETFs.
▶️ Check More Details Here:
https://www.theblock.co/post/309080/ark-invest-bitcoin-etf-arkb-coinbase-coin
🔔 Bybit to Cease Operations and Withdraw Products from France !
Bybit will cease operations in France starting August 2. French users will be unable to trade or open new positions, with all existing positions set for liquidation by August 13. Post-liquidation, only withdrawals will be permitted. This move follows France's stricter licensing requirements in anticipation of the EU's Markets in Crypto-Assets (MiCA) regulation, effective December.
▶️ Check More Details Here:
https://announcements.bybit.com/en/article/notice-on-close-only-and-position-closures-blta0c0e0f458eec266/
🔔 Montenegro Appellate Court Upholds Extradition of Do Kwon to South Korea !
On August 1, the Montenegro Appellate Court upheld the decision to extradite Terraform Labs co-founder Do Kwon to South Korea. With no further appeals expected, his repatriation will be expedited. This ruling concludes a series of legal disputes over whether Kwon should be extradited to the U.S. or South Korea.
▶️ Check More Details Here:
https://sudovi.me/ascg/sadrzaj/6OBQ
🔔 South Korean Crypto Exchanges Encounter Unforeseen Supervisory Fees !
South Korea's new Virtual Asset User Protection Act mandates that major cryptocurrency exchanges like Upbit, Bithumb, and Coinone pay a supervisory fee based on their operating income, estimated around 300 million won ($220,000). This fee, part of revised regulations announced by the Financial Services Commission (FSC) on July 1, will support inspections by the Financial Supervisory Service (FSS) starting next year.
▶️ Check More Details Here:
https://www.inews24.com/view/1748431
🔔 Bybit Launches Indian Digital Rupee CBDC Payment Option !
Bybit has added digital rupee (e-rupee) payments to its platform, enhancing security for Indian rupee transactions. This wallet-based option joins existing payment methods and aims to improve user trust and attract more merchants. The e-rupee, part of India's CBDC pilot, is currently used for peer-to-peer crypto transactions on Bybit.
▶️ Check More Details Here:
https://www.prnewswire.com/news-releases/bybit-introduces-digital-rupee-erupee-as-the-new-and-secure-inr-payment-method-302209775.html
🔔 The Bahamas Takes a New Crypto Law Step 1.5 Years After FTX Collapse !
The Bahamas has passed the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), enhancing regulations for digital assets and cryptocurrency markets. This law builds on the 2020 DARE Act, introducing stricter investor protections, disclosure requirements, and a stablecoin framework while prohibiting algorithmic stablecoins. It aims to address challenges and restore confidence in the Bahamas' financial sector following the FTX collapse in 2022.
▶️ Check More Details Here:
https://www.scb.gov.bs/wp-content/uploads/2024/07/Media-Release-The-Bahamas-Introduces-Transformative-Digital-Asset-Legislation-The-DARE-Act-2024.pdf
🔔 UAE Residents Gain Ability to Trade Crypto Directly via Bank Accounts !
Crypto exchange M2 has launched a new feature allowing UAE residents to buy and sell Bitcoin and Ether directly with dirhams. The integration supports trading and transactions between local currency and cryptocurrencies, enhancing accessibility and bridging traditional finance with virtual assets.
▶️ Check More Details Here:
https://cointelegraph.com/news/m2-exchange-uae-aed-to-crypto
🔔 SEC Accuses Nader Al-Naji of Fraud and Unregistered Crypto Asset Securities Offering !
The SEC has charged Nader Al-Naji with a multi-million-dollar crypto fraud involving BitClout. Al-Naji raised over $257 million through unregistered sales, misled investors, and used $7 million for personal expenses. He falsely claimed BitClout was decentralized, using the pseudonym "Diamondhands." The SEC and the U.S. Attorney’s Office for the Southern District of New York have filed charges against him.
▶️ Check More Details Here:
https://www.sec.gov/newsroom/press-releases/2024-91
⚡️ News Flash - 07 Aug 2024 !
1️⃣ Nexera Protocol Hit by $1.5 Million Exploit in Latest DeFi Hack
Nexera Protocol lost $1.5 million in an exploit on August 7. Hackers stole NXRA tokens by taking control of the protocol's proxy contract and are currently liquidating the stolen tokens for Ether (ETH). Some funds have been bridged to the BNB chain.
2️⃣ Blockchain Technology Lowers Airline Cargo Costs by 7% and Enhances Efficiency
A study by Aventus at Heathrow Airport showed airlines could cut cargo handling costs by 7% using blockchain-based supply chain solutions. The technology also improved operational efficiency, including faster turnaround and container location.
3️⃣ Mt. Gox Creditors Hold Bitcoin Despite 10-Year Wait
Mt. Gox creditors have received nearly 59,000 of the 141,686 BTC owed, but this hasn’t caused a market sell-off. Bitcoin’s recent 20% drop is attributed to broader economic factors rather than the distribution.
4️⃣ Wallets Associated with $4B PlusToken China Ponzi Shift 2,800 Ether
Hundreds of wallets linked to the $4.2 billion PlusToken Ponzi scheme have started moving thousands of ETH, with over 2,800 ETH transferred to a single wallet. This activity, tracked by Arkham and LookonChain, has sparked concerns about potential sell pressure in the crypto market.
5️⃣ Grayscale Introduces New Crypto Investment Trusts for SUI and TAO
Grayscale has introduced two new investment products: the Grayscale Bittensor Trust and the Grayscale Sui Trust, focusing on Bittensor's TAO and Sui's SUI tokens, respectively.
⚡️ News Flash - 05 Aug 2024 !
1️⃣ Polymarket Records $1.4 Million Bet on Federal Interest Rate Cut Following Market Crash
Polymarket has $1.44 million in bets predicting that the Federal Reserve will cut interest rates by September 2024. This reflects broader market expectations amid concerns of a potential recession.
2️⃣ Elon Musk Resumes Lawsuit Against OpenAI and Sam Altman—Filing
Elon Musk has refiled a lawsuit against OpenAI and CEO Sam Altman, reviving a case initially dropped in June. Musk’s suit, originally filed in February, alleges breaches of nonprofit commitments by OpenAI.
3️⃣ Solana Experiences 30% Weekly Drop Amid Widespread Alt-Coin Crash
Crypto market crashes: Solana, Link, and Uniswap down 30% this week; Dogecoin and Pepe fall 27% and 39%. $1.23B liquidated, Bitcoin ETFs face $237.4M outflows.
4️⃣ Over $1 Billion Lost in Crypto Liquidations as Global Markets Decline
On Aug. 5, $1.08 billion in crypto positions were liquidated due to major drops in Bitcoin, Ether, and Solana, impacting nearly 300,000 traders.
5️⃣ Crypto Hackers Acquire Ethereum Dip with Stolen Funds
Hackers used stolen funds from the 2022 Nomad bridge hack to purchase 16,892 Ether, capitalizing on its over 20% price drop.
🔔 Sharpe AI Announces TGE Date & Exchange Listing !
Sharpe AI will launch its native token, $SAI, on August 5. The token will be listed on Gate and BingX at 1 PM UTC. Priced at $0.02, the total supply of $SAI is 1 billion tokens. Sharpe AI is running $SAI TGE campaign on Interact where user can participate and earn Sharpe Points.
Sharpe AI is a rapidly growing crypto super-app designed for professional traders, offering AI-powered tools for intelligence, investing, and automated asset management. It supports over 200,000 tokens and 25 blockchains, processes 4TB of data daily, and has managed more than $500 million in volume with over 150,000 users.
▶️ Check More Details Here:
https://x.com/SharpeLabs/status/1819240771100221950
▶️ Project Socials:
Website | X | Discord
🔔 Crypto Lender Genesis Finalizes Restructuring and Starts Payouts !
Crypto lender Genesis Global has finished its bankruptcy restructuring, distributing around $4 billion to creditors. Bitcoin creditors will recover 51.28%, Ether creditors 65.87%, and Solana creditors 29.58% of their claims.
▶️ Check More Details Here:
https://www.bloomberg.com/news/articles/2024-08-02/crypto-lender-genesis-completes-restructuring-begins-payouts
🔔 DevvE Announces Partnership With Taunt Network !
Taunt Network has announced a $1 million airdrop of $TAUNT tokens in collaboration with DevvE. Participants can earn $TAUNT by completing tasks, playing games, and referring friends. The airdrop also involves collecting Soul-Bound Tokens to accumulate Engagement Points and enhance chances of winning rewards.
DevvE is a blockchain ecosystem using the DevvX blockchain and DevvE token, offering high-speed transactions, low costs, and regulatory compliance for Web3 applications.
Taunt Network LTD, based in Seychelles, uses Web3 and blockchain to transform live streaming with its $TAUNT Token, enhancing monetization for creators and revenue for developers.
▶️ Check More Details Here:
https://x.com/devveecosystem/status/1818680841574224274
▶️ Project Socials:
Website | X | Telegram
🔔 Morgan Stanley to Permit Wealth Advisors to Recommend Bitcoin ETFs to Certain Clients: CNBC !
Morgan Stanley will allow its financial advisors to offer spot bitcoin ETFs, specifically BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, starting August 7. This marks a first among major Wall Street banks, allowing select clients to invest in these bitcoin ETFs.
▶️ Check More Details Here:
https://www.cnbc.com/2024/08/02/morgan-stanley-wealth-advisors-bitcoin-etfs.html
🚨 Convergence Hacked for $210 Million via Smart Contract Exploit !
On August 1, Convergence suffered a smart contract exploit, leading to the minting and sale of $210 million in CVG tokens. The attacker also stole $2,000 in unclaimed staking rewards. The CVG token's value plummeted to $0.0004 following the attack.
▶️ Check More Details Here:
cvg_wireshark/post-mortem-08-01-2024-e80a49d108a0" rel="nofollow">https://medium.com/@cvg_wireshark/post-mortem-08-01-2024-e80a49d108a0
🔔 Coinbase Reports $1.45 Billion in Q2 Revenue Despite Decline in Profits !
Coinbase saw a year-over-year revenue increase for Q2, reaching $1.45 billion, but experienced an 11% decline from the previous quarter. Consumer transaction revenues fell by 29% to $665 million, while stablecoin revenue rose to $240.4 million. Notably, Solana accounted for 10% of Coinbase’s transaction revenues.
▶️ Check More Details Here:
https://x.com/coinbase/status/1819107073201971486
🔔 Morpho Raises $50M in Funding Round Led by Ribbit Capital !
Morpho, a decentralized lending protocol, secured $50 million in a strategic funding round led by Ribbit Capital, with participation from a16z crypto, Coinbase Ventures, Variant, Pantera, and others. The firm's valuation was not disclosed, and it previously raised $18 million in 2022.
▶️ Check More Details Here:
https://x.com/MorphoLabs/status/1819010855964479751
🔔 US Spot Bitcoin ETFs See $299,000 in Net Inflows, Ethereum ETFs Experience $77 Million in Outflows !
On Wednesday, U.S. spot Bitcoin ETFs saw modest net inflows of $299,000, driven by BlackRock IBIT's $20.99 million and Grayscale Bitcoin Mini Trust’s $18 million inflows. Conversely, spot Ethereum ETFs faced significant net outflows of $77.21 million, with Grayscale Ethereum Trust (ETHE) leading with $133.33 million in outflows. Total trading volume for spot Bitcoin ETFs remained at $1.37 billion.
▶️ Check More Details Here:
https://sosovalue.com/assets/etf/us-btc-spot
🔔 Lympid Announces IDO On Polkastarter !
Lympid will conduct an IDO for its native token, $LYP, on Polkastarter. The $LYP token will be priced at $0.12 per unit, with a total supply of 100 million tokens and a fully diluted valuation (FDV) of $12 million. The IDO date is yet to be announced, and 50% of the tokens will be distributed at the Token Generation Event (TGE).
Lympid is a platform for real-world assets (RWA) that offers a regulatory-compliant platform established in Europe for issuing and trading RWA. Users can invest in assets like horses, art, luxury watches, US Treasuries, and premium real estate through an easy-to-use app.
▶️ Check More Details Here:
https://x.com/lympid_official/status/1818649350794326379
▶️ Project Socials:
Website | X | Telegram
🔔 XRP Jumps 7% Amid Ripple-SEC Settlement Speculation and $600M Token Unlock !
XRP has jumped 7% to over 64 cents, driven by optimism over a potential settlement in Ripple's SEC lawsuit and a major scheduled token unlock. The SEC's recent move to amend its complaint against Binance, possibly impacting various tokens, has further fueled market interest. XRP's trading volume is notably high in South Korea.
▶️ Check More Details Here:
https://www.coindesk.com/markets/2024/07/31/xrp-surges-7-amid-ripple-sec-settlement-hopes-600m-token-unlock/
🔔 Starknet-Based ZKX Protocol Shuts Down Due to Lack of Users !
The ZKX Protocol, a social derivatives trading platform on Starknet, has shut down due to a lack of economic viability. Founder Eduard Jubany Tur cited minimal user engagement, reduced trading volumes, and insufficient daily revenue to cover server expenses as reasons for the closure.
▶️ Check More Details Here:
https://x.com/0xeduard/status/1818206251089551810
🔔 Russia Considers Legalizing Crypto for International Payments !
Russia is set to legalize cryptocurrency for international payments amid Western sanctions. The State Duma will review a law allowing crypto settlements, with approval expected soon. Russia's central bank aims to start crypto-based cross-border payments by the end of 2024, reversing its previous stance against crypto.
▶️ Check More Details Here:
https://www.cnbc.com/2024/07/30/russia-considers-legalizing-crypto-as-a-form-of-payment-amid-sanctions.html