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🔥 Rally Report 🔥
DOGECOIN
The price of DOGE has rallied by 14% in the past 24 hours.
WHY?!
🎙Crypto exchange Coinbase announced that it plans to launch cash-settled futures contract products for DOGE on April 1.
☄ Coinbase also stated that Dogecoin’s “enduring popularity and the active community support” has transcended its meme origins to become a staple in the cryptocurrency industry.
If you want to buy or trade DOGE, we have an exclusive $60K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
🔗 https://www.coinbureau.com/deals/trading/bybit-cb/
Looking for a Bybit guide?!
📹 https://www.youtube.com/watch?v=YZV9mji7UQo
🚨 New Video Alert!! 🚨
The crypto market is crashing, and this has everyone wondering what’s going on. Today’s video has all the answers to all the biggest questions, including why crypto is crashing and when it will recover.
As is often the case, the official story you’re seeing in the media isn’t completely accurate. More importantly, the actual factors driving crypto prices point to more downside in Q2.
However, it’s important to put things into perspective. There’s a high chance most cryptos will end the year at new highs, and the blow off top phase is less than a year away.
All that and more in today’s video!
🔥 Rally Report 🔥
STARKNET
The price of STRK has rallied by 12% in the past 24 hours.
WHY?!
☄ The Starknet Foundation has reportedly extended the eligibility of first round of Starknet provisions to eligible VeVe users, Non-VeVe StarkEx users who were previously identified as VeVe users and pooled stakers. This means that Immutable X users who performed eight or more transactions before June 1, 2022, can now claim their airdrop.
🔴 The fresh batch of users eligible for the February airdrop can begin claiming their STRK in April.
If you want to buy or trade STRK, we have an exclusive $60K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
🔗 https://www.coinbureau.com/deals/trading/bybit-cb/
Looking for a Bybit guide?! ✨
📹https://www.youtube.com/watch?v=YZV9mji7UQo
🔔 MARKET MOVING NEWS! (18/03/24)
1️⃣ Solana's Memecoin Mania Pushes On-Chain Volumes And Fees To New Highs 🕯
The popularity of memecoin trading and speculation on Solana reportedly pushed on-chain volumes (in USD) to a new all-time high last Friday. According to data from DefiLlama, volume on Solana exceeded $3.79 billion by the end of last week. Notably, this is much higher than the blockchain's previous all-time high volume of $2.85 billion — a figure set just earlier this month. According to The Block's data, the total fees on Solana are also at new all-time highs. Notably, the total transaction fees paid on Solana yesterday amounted to $3.83 million, or 20,350 SOL — the vast majority of which were non-vote priority fees.
Source
2️⃣ New York Jury Convicts Two Promoters Of IcomTech Crypto ‘Ponzi’ ▶️
According to reports, a jury in a New York District Court has convicted David Brend and Gustavo Rodriguez - two former promoters of alleged crypto mining and trading company IcomTech, of wire fraud conspiracy. Both defendants reportedly face a maximum sentence of 20 years for their role in the “Ponzi” scheme
IcomTech reportedly claimed to investors that it would give guaranteed daily returns from the company’s crypto trading and mining activity. However, the company allegedly ran a “Ponzi” scheme that used investor funds to pay other investors. Certain promoters also “siphoned off, in some cases, hundreds of thousands of dollars in victim funds” to buy real estate, travel and host “lavish expos and small community presentations,” where promotors showed up in “expensive cars and wearing luxury clothing” to lure more investors with promises of “financial freedom.”
Source
3️⃣ Prediction Market Kalshi to Take Bets on Crypto (Settled in Dollars) ‼️
According to a recent press release, New York-based regulated prediction market Kalshi will let clients bet on five different cryptocurrency price outcomes. Examples include when bitcoin (BTC) will reach $100,000 and the highest price Ethereum's ether (ETH) will reach in 2024. However, the firm also clarified that while these bets are about crypto, they will be placed in U.S. dollars, like all other markets on Kalshi.
Source
4️⃣ Base Surges To 2M Daily Transactions Following Dencun Upgrade 📈
According to reports, daily transactions on the Ethereum layer-2 network Base have skyrocketed to a record number of 2 million transactions just a few days after the Dencun upgrade. Notably, Base was processing just around 440,000 transactions per day before the upgrade. The day after, this climbed to 1.1 million and continued to rise in the days following, hitting 2,064,920 on March 16. This is likely a result of the average transaction fees on Base falling by more than 60% since the upgrade.
Source
5️⃣ Memecoin Presales Hit ‘Peak Degeneracy’ With Over $100M Raised In 3 Days ⚡️
According to a Cointelegraph report, crypto traders have sent around $100 million worth of SOL to buy into new Solana meme coins in the last 72 hours. One Twitter user described it as “peak degeneracy.” Notably, the memecoin presale mania comes after a memecoin called Book of Meme launched using the controversial crowdfunding model.
Source
🚨 New Video Alert!! 🚨
It’s Monday, and that means it’s time for another weekly crypto review! In case you missed the news, BTC saw yet another all time high last week, and it looks like the correction could continue.
Similarly, ETH has been struggling despite the Dencun upgrade, but SOL and certain memecoins on Solana have continued to rally, suggesting some interesting things about how investors see Ethereum.
On the macro front the Fed’s upcoming press conference is front and center, and it’s possible that it will cause another leg lower in the current dip. Fortunately or unfortunately, the Treasury will keep printing.
Enjoy!
🔔 MARKET MOVING NEWS! (17/03/24)
1️⃣ Starbucks Says Its NFT Rewards Program Must Come To An End ‼️
Coffee giant Starbucks is reportedly shutting down its Starbucks Odyssey Beta platform on March 31st. Notably, the Starbucks Odyssey Beta platform allowed users to engage in coffee-themed games and challenges in return for digital stamps that could be used to access new benefits and interactive experiences. Along with the platform, Starbucks also stated that it will shut down the marketplace where users traded their digital stamps, as well as the community discord server.
Source
2️⃣ OpenAI CTO Mira Murati “Not Sure” Where Sora’s Training Data Comes From 🤔
According to a Wall Street Journal report, OpenAI’s chief technology officer, Mira Murati offered vague responses when asked about the source of data for the company’s recently launched Sora model, which is capable of generating videos from text instructions.
When asked whether Sora was trained with data from social media platforms, such as YouTube, Instagram, or Facebook. Murati replied stating that she was “not sure about that.” She hinted that it could be possible “if they were publicly available — publicly available to use,” but also caveated by stating that she was “not sure” and “not confident about it.”
Source
3️⃣ Remilia Founder Charlotte Fang Claims He Was Hacked as Treasury Is Drained of Millions 🔽
Remilia and Milady founder Krishna Okhandiar (aka Charlotte Fang) is reportedly claiming to have been hacked after large quantities of ether and NFTs were transferred to a wallet which appears to be liquidating the assets.
Notably, the event was first flagged by X user Dumpster DAO, who posted a screenshot of Okhandiar claiming he "got drained," and linking to an address that has received assets from Remilia-linked wallets. That address has since liquidated several Milady-related NFTs, including NFTx staked NFTs, and has sent $1 million in ether to a secondary address.
Source
4️⃣ Pro-XRP Lawyer Confident He Can Win Senate Bid, Sets $1M Campaign Goal 🔍
In a recent tweet posted on X (formerly Twitter), pro-XRP lawyer John Deaton told followers that he is ready to take on cryptocurrency critic Senator Elizabeth Warren in the Massachusetts Senate race. He urged his large crypto-friendly social media following to financially back his campaign and also declared that he has invested $500,000 of his own money into the senate campaign.
Source
🚨 New Video Alert!! 🚨
AI cryptos have seen some of the biggest gains, and it’s left everyone wondering which ones actually have long term potential.
A recent report by Galaxy Digital reveals the crypto projects that are building the most important tech. Spoiler: not all of them have tokens yet.
This presents a unique opportunity for those who are willing to pay attention. If you watch until the end and remember these names, you may just make big gains during the next AI crypto wave.
Enjoy!
🔥 Rally Report 🔥
BOOK OF MEME
The price of BOME has rallied by 483% in the past 24 hours.
WHY?!
🎙Crypto exchange Binance announced plans to list BOME with the seed tag applied.
🕯 It also announced that it plans to launch a USD margin perpetual contract for the BOME token today by 12:30 (UTC), with up to 50x leverage.
If you want to buy or trade BOME, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
📹 https://www.coinbureau.com/deals/trading/kucoin/
🔔 MARKET MOVING NEWS! (15/03/24)
1️⃣ El Salvador Moves $400 Million Worth Of Bitcoin Holdings To New 'Cold Wallet’ 💸
In a tweet posted earlier today, El Salvador President Nayib Bukele revealed that the country has moved a “big chunk” of its Bitcoin holdings to a cold wallet. Notably, Bukele wrote that the cold wallet setup represents the country’s “first Bitcoin piggy bank.” The screenshot posted alongside the tweet shows that the address received 5,689.69 BTC, worth roughly $406 million. This amount is nearly double the holdings previously known from public trackers of the country's bitcoin holdings, estimated at $200 million.
Source
2️⃣ Crypto’s Berachain Becomes Unicorn in $69 Million Funding Round 💰
Bear-themed layer-1 DeFi project Berachain has reportedly attained Unicorn status by raising $69 million at a $1.5B valuation in a funding round led by Brevan Howard Digital and Framework Ventures. The Cosmos-based, EVM-compatible project focuses on DeFi trading, lending and borrowing services with a tri-token system. Berachain is preparing to launch its mainnet, expected in the second quarter of this year.
Source
3️⃣ Top Crypto Exchange Binance Spins Off $10 Billion Venture Unit ‼️
According to a Bloomberg report, Binance Labs became an independent venture capital arm earlier this year after severing ties with crypto exchange Binance. A spokesperson stated that Binance Labs staff have separate contracts from those of exchange employees, similar to the setup at Binance-backed digital ledger BNB Chain. While it is no longer part of the Binance group, the venture capital affiliate will reportedly license the Binance brand. Binance Labs is led by Yi He, who co-founded Binance alongside Zhao. The independent VC fund’s portfolio is now reportedly worth over $10 billion, covering over 250 projects from over 25 countries, with an over 14x return on investment rate.
Source
4️⃣ Crypto Holders Favor Donald Trump for U.S. President: Poll 📊
According to a poll of 1,000 registered voters commissioned by leading crypto VC firm Paradigm, 48% of crypto owners plan to vote for Donald Trump compared to 39% who plan to vote for U.S. President Joe Biden. Notably, the poll was conducted nationally by Virginia-based Public Opinion Strategies between Feb. 28 and March 4.
Paradigm also noted,
Americans don’t trust either party when it comes to crypto. 49% of voters trust neither party on crypto, including 40% of Democrats and 30% of Republicans. […] Crypto holders make up a good percentage of the current voting bloc, and it’s time elected officials take notice.
🔥 Rally Report 🔥
DOGWIFHAT
The price of WIF has rallied by 44% in the past 24 hours.
WHY?!
📈 The rally comes after fans of the memecoin raised over $700,000 to advertise the token’s logo on the Las Vegas sphere. The crowdfunding effort called “Sphere Wif Hat” went live on March 10.
🔍 Notably, the campaign received support from several large players within the Solana ecosystem, including Solana-based wallet Phantom. The official social media account of the Phantom Wallet made several posts over the last three days encouraging further donations.
If you want to buy or trade WIF, we have an exclusive trading fee discount of up to 60% on Kucoin ⚡️
🔗 https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
Making money trading BTC boils down to knowing when to buy and when to sell. It sounds simple in theory, but it’s difficult in practice. Today, we give you the only lesson you need to trade BTC.
It consists of 5 easy steps which, if followed and practiced, can yield substantial returns. At the end of the video, we give you some extra tips to keep in mind to maximise your profits.
Even if you’re not into trading, learning this kind of analysis will go a long way in helping you with accumulating BTC or knowing when the best time is to convert to fiat. Enjoy!
🔥 Rally Report 🔥
TONCOIN
The price of TON has rallied by 21% in the past 24 hours.
WHY?!
🔍 The rally follows Telegram co-founder Pavel Durov’s statement that the messaging service is considering going for an initial public offering (IPO).
📈 Investors are also more bullish about TON due to the rising activity within the ecosystem. Notably, a meme project called Notcoin is expected to go for TGE within the coming weeks.
If you want to buy or trade TON, we have an exclusive $50K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
🔗 https://www.coinbureau.com/deals/trading/bybit-cb/
Looking for a Bybit guide?! 👇
📹 https://www.youtube.com/watch?v=YZV9mji7UQo
🔥 Rally Report 🔥
TONCOIN
The price of TON has rallied by 24% in the past 24 hours.
WHY?!
☄️ In a recent interview, Telegram co-founder Pavel Durov revealed that the messaging service is considering going for an initial public offering (IPO). Durov also stated that Telegram hopes to become profitable “next year, if not this year.”
🔍 TON investors are bullish as Telegram has recently pushed announcements indicating that its plans for monetisation closely involve the TON blockchain. Notably, the platform recently announced that Telegram Channel owners will receive a share of ad revenue as TON on the blockchain.
If you want to buy or trade TON, we have an exclusive $50K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
🔗 https://www.coinbureau.com/deals/trading/bybit-cb/
Looking for a Bybit guide?! 👇
📹 https://www.youtube.com/watch?v=YZV9mji7UQo
🚨 New Video Alert!! 🚨
It’s Monday, and that means it’s time for another weekly review! With BTC hitting all time highs, it’s safe to say that there’s a lot to cover, starting with whether BTC will continue to rally.
After BTC the biggest question is ETH, which still seems to be struggling to catch up to BTC. With the Dencun upgrade expected in the coming days, it’s now or never for ETH to rally.
Meanwhile, NVIDIA’s stock seems to have started to fall, something that could foreshadow a broader market correction. In the absence of this correction, it looks like memecoins could keep rallying.
This is a weekly review you can’t miss!
🔔 MARKET MOVING NEWS! (20/03/24)
1️⃣ Genesis Agrees To Pay $21M To Settle SEC Case ☄️
Bankrupt crypto lender Genesis Global Capital has reportedly agreed to pay a $21 million civil penalty as part of a final court judgment to settle charges related to the Gemini Earn lending program. Notably, the settlement comes days after a New York judge denied motions by Genesis and crypto exchange Gemini to stop the SEC case filed in January 2023 from moving forward
United States Securities and Exchange Commission Chair Gary Gensler stated,
Today’s settlement builds on previous actions to make clear to the marketplace and the investing public that crypto lending platforms and other intermediaries need to comply with our time-tested securities laws. Doing so best protects investors. It promotes trust in markets. It’s not optional. It’s the law.
With marked hostility, the memorandum distorts reality to support its precious 'loss' narrative and casts Sam as a depraved super-villain; it attributes to him dark and megalomaniacal motives that fly in the face of the record; it makes apocalyptic prophecies of recidivism; and it adopts a medieval view of punishment to reach what amounts to a death-in-prison sentencing recommendation. That is not justice.
Am I sorry for a company going bankrupt? No, like companies go bankrupt, almost every company goes bankrupt, right? It’s how you build or what you do about it. We’re definitely trying our best. We can add value in various ways. At a minimum, we can even tell the next Three Arrows how to do things better when they go bankrupt.
🔔 MARKET MOVING NEWS! (19/03/24)
1️⃣ Spot Bitcoin ETFs Hit Negative Flows as GBTC Sheds $642M In a Day 🕯
According to data from Farside Investors, Grayscale notched a total of $642.5 million in outflows on March 18. Notably, this marks the largest day of outflows for the fund since its conversion to a spot ETF on Jan. 11. Meanwhile, inflows into Fidelity’s Bitcoin ETF stumbled to just $5.9 million the same day, resulting in a net outflow of $154.3 million for spot Bitcoin ETFs. At the time of writing, Bitcoin is trading at roughly $63K, down 6% from yesterday.
Source
2️⃣ Fidelity Adds Staking to Ether ETF Application ▶️
According to a recently filed 19b-4 amendment, financial services giant Fidelity is seeking permission to stake a portion of the Ether held by its proposed spot Ether ETF, to provide investors with additional income. While Fidelity did not disclose a specific staking provider, the news resulted in the price of Lido’s LDO token briefly jumping 6% from $2.48 to $2.56 before falling back to $2.49.
The application reads,
The Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers, which may include an affiliate of the Sponsor (“Staking Providers”).
Our primary investment strategy is diversification by asset class, region, and timeframe. While market prices may fluctuate in the short term, GPIF will take full advantage of our long-term investment horizon to achieve investment returns in a more stable and efficient manner.
🔥 Rally Report 🔥
DOGWIFHAT
The price of WIF has rallied by 21% in the past 24 hours.
WHY?!
☄️ The rally follows Elon Musk’s recent post of a photo on St. Patrick’s Day.
🔍 Notably, the photo showed three dogs, each wearing a hat.
If you want to buy or trade WIF, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
🔗 https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
Is Japan a serial bag fumbler?
In the 2010s, it was home to the biggest bitcoin market in the world.
And in the not-too-distant past, Japan was becoming richer faster than any other advanced economy.
But in both cases - macro and crypto - the wheels fell off, and Japan lost serious momentum.
Now, the government is trying to play catch up - but is it too late?
We hopped in the trenches to look for answers, and came back up with more than we had bargained for.
We’re talking epic rugs, riches and a cameo from PEPE’s ceramic cousin.
So tune in - this is a deep dive you don’t want to miss!
🔔 MARKET MOVING NEWS! (16/03/24)
1️⃣ Gold Investors Aren't Switching Into Bitcoin, JPMorgan Says 💸
According to a recent JPMorgan research report, institutional investors and individuals have been buying both gold and bitcoin (BTC) this year and not switching between the two. The bank’s report disagreed with the recent theory about how outflows from gold exchange-traded funds (ETFs) and a surge in bitcoin ETF inflows raised the possibility that investors were shifting from the precious metal into the cryptocurrency.
The report stated,
Private investors and individuals have propagated both gold and bitcoin year-to-date rather than shifting from the former to the latter […] Beyond retail investors, speculative institutional investors such as hedge funds including momentum traders such as CTAs appear to have also propagated the rally by buying both gold and bitcoin futures since February, perhaps more heavily than retail investors.
Bankman-Fried is deserving of a severe sanction, proportionate to his role in this historic fraud. The government urges the court to impose a sentence that underscores the remarkably serious nature of the harm to thousands of victims; prevents the defendant from ever again committing fraud; and sends a powerful signal to others who might be tempted to engage in financial misconduct that the consequences will be severe.
The only thing that CryptoFX guaranteed was a trail of thousands upon thousands of victims stretching across 10 states and two foreign countries. A scheme of that size requires lots of participants, and as today's action demonstrates, we will pursue charges against not just the principal architects of these massive schemes, but all those who further their fraud by unlawfully soliciting victims.
🔔 MARKET MOVING NEWS! (14/03/24)
1️⃣ Ethereum Finalises 'Dencun' Upgrade, in Landmark Move to Reduce Data Fees ☄️
Ethereum’s much-anticipated Dencun upgrade went live on Wednesday morning. The upgrade was triggered at Ethereum epoch 269,568 at 13:55 UTC (9:55 a.m. ET), and finalised at 14:10 UTC.
Notably, the upgrade will enable "blobs" - a new place for storing data on the blockchain that is expected to significantly reduce the transaction fees of layer-2 networks and enhance Ethereum’s overall scalability. While layer-2 network Starknet confirmed that it had started submitting data blobs, it will take about a month or two for settlement contracts across all layer-2 networks to incorporate the update.
Source
2️⃣ Ethereum Layer-2 Blast Suffers Outage as Dencun Upgrade Goes Live 🧐
The recently launched layer-2 blockchain Blast stopped producing blocks following the launch of the Dencun upgrade to the Ethereum mainnet. Blocks stopped being produced at 14:05 UTC, correlating with the time the Dencun upgrade took place. The team fixed the issue at 15:09 UTC and stated that a full analysis would be shared "shortly."
Source
3️⃣ MicroStrategy Seeks $500 Million To Buy More Bitcoin 💸
MicroStrategy and its executive chairman Michael Saylor have reportedly launched a new proposed offering of $500 million of convertible notes “to acquire additional Bitcoin.”
Notably, MicroStrategy just completed a $800 million senior convertible note offering earlier this week. The latest offering brings it to a total of $1.3 billion worth of offerings in the last two weeks. Interestingly, MicroStrategy is only 5,000 BTC away from holding at least 1% of Bitcoin’s theoretical maximum supply. Based on current prices, the $500 million could buy 6,850 Bitcoin.
Source
4️⃣ South Africa Set to License 60 Crypto Platforms by Month-End ⚡️
According to a Bloomberg report, South Africa's financial regulator will license about 60 cryptocurrency platforms by the end of the month. The regulator has reportedly received applications from 300 firms since its new framework commenced last year.
Notably, the regulator opted not to develop a separate framework for crypto operators and instead oversee them under the existing Financial Advisory and Intermediary Services Act (FAIS). This will allow consumers to have recourse and protections against crypto exchange operators, with the regulator being able to take enforcement action if an operator breaches any of the act’s requirements.
Source
5️⃣ Australian Court Dismisses Lawsuit by Market Regulator Against Finder in 'Landmark' Ruling for Crypto Industry ‼️
An Australian Federal Court has reportedly dismissed a case brought on by Australia’s market regulator against Finder Wallet in Dec. 2022. Notably, the regulator had accused Finder Wallet of violating the Corporations Act through its offering of the ‘Finder Earn’ product which was allegedly a debenture. The regulator accused Finder of carrying on a financial services business without holding an Australian Financial Services Licence (AFSL).
However, the court ruled that the Australian Securities and Investment Commission (ASIC) did “not establish that the Finder Earn product is a debenture” and ordered it to pay the defendant’s costs. Blockchain Australia Chair and Digital Assets Lawyer Michael Bacina called it a “landmark case” which highlights “how important it is for policymakers and regulators to work with industry to provide real guidance and clarity to avoid the wasted time and costs inherent in regulation by enforcement.”
Source
🔔 MARKET MOVING NEWS! (13/03/24)
1️⃣ Bitcoin Fog Founder Convicted of Money Laundering 🥶
Roman Sterlingov, a dual Russian-Swiss citizen accused of being the founder of the crypto-mixing service Bitcoin Fog, was convicted by a federal jury in Washington on Tuesday on four charges related to money laundering. However, Sterlingov argued throughout the trial that he was only a user of the service and not its operator. His attorney, Tok Ekeland said in a March 12 X post that his team will appeal the verdict. Sterlingov’s sentencing date has been set for July 15. He faces up to 20 years in prison on the most serious charge.
Source
2️⃣ Solana NFT Marketplace Tensor Issuing TNSR Governance Token 📈
Solana NFT marketplace Tensor has announced that it will issue a governance token with the ticker ‘TNSR.’ While it did not confirm whether there will be an airdrop of the token, the Tensor Foundation said more details about the token's release will come "soon.”
The tweet reads,
NFTs today are a niche community on the fringes of the web. NFTs tomorrow will power products, businesses and entire industries. NFT traders will go from thousands — to billions […] To date, Tensor protocols have traded over $2 billion worth of Solana NFTs. In the last 90 days they facilitated over 70% of Solana’s NFT trading volume (wash trading removed).
There is no fee disclosed yet or what % of $GBTC will spin off but pretty sure this will be a non-taxable event for a chunk of those shares to get into a cheaper and cost-competitive product.
The Valkyrie acquisition is yet another step in our growth strategy with a special focus this time in the U.S. This acquisition brings an additional $530 million AUM to CoinShares, which makes it a top-line contributor from day one. More importantly, it broadens our product offerings, strengthens our innovation capacity, and increases by a factor of 15 our total addressable market.
🔔 MARKET MOVING NEWS! (12/03/24)
1️⃣ Trump Now Says He Has 'Fun' With Bitcoin and 'Crazy New Currencies' 👀
In a recently released interview with CNBC, former United States President Donald Trump indicated his administration would take a possibly positive position on cryptocurrency if he were to be elected to the White House again. Notably, he called it an "additional form of currency." While he clarified that he has not bought Bitcoin, he “sometimes” lets people “pay through Bitcoin.”
Trump also stated,
I make money with it, I have fun with it too. Crazy new currencies, that’s what I call them. They’re crazy new currencies, whether it’s Bitcoin or others. People are using [them].
The integration of Tether USDT on the Celo platform, which is built for the real world, will represent a significant step forward in our mission. By leveraging the unique capabilities of Celo, we can further enhance the usability and accessibility of Tether for millions of people.
We plan to utilize Avalanche's subnet to maximize the unique characteristics of blockchain-based games, such as transparency and reliability. For example, [MapleStory N] is being designed so that when game items are modified through enhancement related data can be stored on the subnet.
🔔 MARKET MOVING NEWS! (11/03/24)
1️⃣ Arbitrum DAO Removes Proposal To Fund Tornado Cash Devs’ Legal Bills 👀
The Arbitrum DAO has reportedly removed a proposal that sought to allocate nearly $1.3 million worth of ARB tokens from the community wallet in support of Roman Storm and Alexey Pertsev, the developers of the crypto mixer Tornado Cash. Notably, an Arbitrum DAO spokesperson stated that the proposal was deleted at the author’s request. However, the reasons underlying this removal remain unclear.
Source
2️⃣ Large Corporations, Major Wirehouses Gearing Up To Buy Bitcoin: Bitwise 💸
In a March 9 investment memo sent out to investors, Bitwise chief investment officer Matt Hougan revealed that Bitwise was involved in “serious due diligence” discussions with large corporations, major wirehouses and institutional consultants looking to increase their exposure to Bitcoin in the coming months. Notably, Hougan stated that he expects inflows into the ten approved spot Bitcoin ETF products to accelerate further by the end of Q2 this year.
Source
3️⃣ South Korea Plans Crypto Management System Against Tax Evasion: Report 🤔
According to local media reports, South Korea’s National Tax Service plans to build a virtual asset management system to prevent users from using virtual assets to evade taxes. The agency has selected GTIC as the lead firm to build the system as part of a preliminary consultation. The virtual asset management system, which is scheduled to launch in 2025, will effectively analyse and manage the information collected through the mandatory submission of the user’s virtual asset transaction history.
Source
4️⃣ DeFi Protocol Unizen to Provide ‘Immediate Reimbursement’ After $2.1M Hack 🔍
On March 9th, blockchain analytics firm PeckShield flagged an “approve issue” with the DeFi platform Unizen and asked users to revoke the approvals from the trade aggregator. However, over $2.1 million in user funds had already been drained from the platform. Unizen has responded by announcing that it will reimburse users who lost 750,000 or less “as soon as humanly possible.” It also sent an on-chain message to the hacker, offering a 20% bounty in exchange for returning the remaining stolen funds. The protocol also stated that it was working with law enforcement and forensic experts to determine the hacker’s identity.
Source
5️⃣ Indian Crypto Investment Platform Mudrex to Offer U.S. Bitcoin ETFs to Indian Investors ⚡️
Indian crypto investment platform Mudrex is reportedly planning to offer U.S. spot bitcoin ETFs to institutional and retail investors in India. Mudrex announced that it will list four spot ETFs – BlackRock, Fidelity, Franklin Templeton and Vanguard, in the first phase.
Notably, Mudrex is backed by Y-Combinator and based in California. It has a subsidiary registered with the Intelligence Unit of India and also has a toehold in the European Union, with licenses in Lithuania and Italy. The firm will reportedly ensure the processing of the actual transaction through broker partners in the U.S., while the Indian subsidiary will facilitate the spot-bitcoin ETF service.
Edul Patel, the CEO and co-founder of Mudrex stated,
The bitcoin spot ETF works as a security and Indians are allowed to purchase securities under the Liberalised Remittance Scheme (LRS) and, as a result, users or institutions specifically, who do want to get access to bitcoin can now start using the bitcoins through ETFs to diversify their portfolio.