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🔥 Rally Report 🔥
THETA NETWORK
The price of THETA has rallied by 19% in the past 24 hours.
WHY?!
🎙 The rally follows Theta’s announcement about 3D rendering jobs being added in a new Edge Node upgrade over the upcoming weeks.
🔍 Investors are bullish as the upgrade will eventually help AI applications utilising 3D pipelines to process complex 3D visual effects for movies and animations, with the scalability and reliability required by the largest media companies.
If you want to buy or trade THETA, 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!! 🚨
When it comes to the stock market, billionaires and politicians seem to have a habit of outperforming the plebs.
In recent months, we’ve seen billions of dollars worth of stocks being offloaded from the portfolios of the elite. What’s crazy is that, historically, these trades tend to signal a change of direction in the markets. The thing is, ordinary retail investors like you and me are the last to know the reasons why. By the time we find out, those perfect buying/selling points have already been and gone.
With the stock market hitting new highs, does this signal the top, or do we still have room to run? It’s a question that has many investors scratching their heads.
That’s why in today’s video, we’ll take an in-depth look at the recent trading activity of the mega-rich, as we look to answer one important question:
Do they know something that we don’t?
🔥 Rally Report 🔥
GALA
The price of GALA has rallied by 43% in the past 24 hours.
WHY?!
🎙 The rally follows Gala’s recent announcement about a hackathon it is hosting at the 2024 Game Developers Conference in partnership with gaming PC manufacturer Alienware and Amazon Web Services.
🔍 Legends Reborn, a strategic card game by Gala Games, also announced the launch of its game tomorrow. The price of GALA could also be driven by users accumulating the token to buy certain in-game assets.
If you want to buy or trade GALA, 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 🔥
WORLDCOIN
The price of WLD has rallied by 45% in the past 24 hours.
WHY?!
📈 The rally most likely follows the recent announcement of OpenAI CEO Sam Altman rejoining the company's board of directors following the completion of an internal review of the circumstances surrounding his controversial removal in November 2023.
🔍 Another possible factor could be Worldcoin’s decision to pursue legal action against the Spanish government following its ban in the European nation.
If you want to buy or trade WLD, 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 🔥
THORCHAIN
The price of RUNE has rallied by 28% in the past 24 hours.
WHY?!
📈 Thorchain's node upgrade completed yesterday. Following the upgrade, the protocol opened lending caps and burnt over 60M RUNE tokens.
⚡️ Notably, collateral is now being onboarded onto THORChain at a rate of $1m/hour. This is expected to result in Thorchain’s lending caps being filled in a week.
If you want to buy or trade RUNE, 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!! 🚨
Over the last few months we’ve been seen big narratives like AI and GameFi take cryptos to new all time highs. It seems that investors are finally realise that all these narratives will require infrastructure.
The most important infrastructure in this regard is decentralised storage and compute, a niche where Filecoin has reigned supreme. With FIL starting to rally, everyone is wondering where it’s headed next.
In today’s video, we give you a recap of what Filecoin is, tell you everything it’s been up do, provide an in-depth analysis of its price, and explain the challenges it could face until it hits those targets.
Enjoy!
🔥 Rally Report 🔥
NEAR PROTOCOL
The price of NEAR has rallied by 24% in the past 24 hours.
WHY?!
🤖 Part of a larger rally seen among AI and AI-associated coins.
🔍 Notably, Near founder Illia Polosukhin appears to be on the panel for a session on ‘Transforming AI’ in the upcoming Nvidia GTC conference on March 18th.
If you want to buy or trade NEAR, 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!! 🚨
BTC has been rallying like crazy for almost a year and hit a new all time high yesterday. This has everyone wondering what’s going on in the crypto market and what comes next for BTC and alts.
Today we give you the most comprehensive answer you will find. That’s because we drill down into all the different players in the crypto market and how they’ve been impacting crypto prices.
We also examine all the aspects of the current rally that are different than what happened in previous crypto cycles, including one critical factor that seems to be confusing even experienced crypto traders.
This is a video you cannot miss!
🔥 Rally Report 🔥
APTOS
The price of APT has rallied by 13% in the past 24 hours.
WHY?!
🤝 South Korean advertising firm Daehong Communications, a subsidiary of Lotte Group, has partnered with Aptos Foundation to undertake Web3-powered strategic global expansion.
🔍 Notably, the partnership will create a Web3 hub for Lotte. Daehong reportedly plans to introduce loyalty programs, NFT-based profile picture projects, and entertainment, among other initiatives within Lotte Group’s Web3 hub.
If you want to buy or trade APT, 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!! 🚨
Everyone knows that AI is today’s biggest narrative, but what will tomorrow’s be? Believe it or not, but it could be quantum computing. It seems that nobody has noticed all the developments in this industry.
It’s getting to the point that many are speculating that quantum computing will soon experience its own ‘ChatGPT moment’. The catch is that this moment probably isn’t going to look anything like ChatGPT.
Instead, it will be news about a major individual or institution getting hacked via quantum, something that will lead to a scramble for post quantum tech, and send certain stocks and cryptos vertical.
This is a video you need to watch until the end.
🔥 Rally Report 🔥
DOGWIFHAT
The price of WIF has rallied by 5% in the past 24 hours.
WHY?!
🎙 Crypto exchange Binance has announced that WIF will be listed with the seed tag for trading on the platform. Specifically, spot trading for the asset will begin at 14:00 UTC today.
🕯 Notably, Binance will feature four spot trading pairs: WIF/BTC, WIF/USDT, WIF/FDUSD and WIF/TRY.
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!! 🚨
It’s time for another weekly crypto review. On this week’s menu we’ve got last weeks rally, and an analysis of a potential breakout to new all time highs for BTC as soon as this week.
As side dishes we’ve got the slow rotation into ETH which could come sooner than people expect, the memecoin mania that’s making millionaires, and a long term forecast for major stock indices.
For dessert, we’ve got an analysis of last week’s top performing cryptos. Spoiler: they were all memecoins. Although most of them seem to be overbought, a few could still have room to run.
Enjoy!
🔥 Rally Report 🔥
PEPE
The price of PEPE has rallied by 70% in the past 24 hours.
WHY?!
📈 Part of a broader rally seen among meme coins.
🔍 Notably, a tweet from Lookonchain reveals that PEPE’s price action is led by whale accumulation.
If you want to buy or trade PEPE, 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!! 🚨
The promise of crypto is that you can be on your own bank, but there’s not much else you can do that’s similar to a bank than custody your own assets. That is, until now.
There are emerging technologies in Bitcoin’s ecosystem which could provide the infrastructure to create a truly decentralised, permissionless, private, and BTC backed banking system.
Although these technologies are still in their early stages, the increased interest in Bitcoin’s ecosystem has supercharged their development, and we could see Bitcoin banks sooner than you think.
This is a video you can’t miss!
🔥 Rally Report 🔥
DOGWIFHAT
The price of WIF has rallied by 27% in the past 24 hours.
WHY?!
📈 The rally seems to follow a series of liquidations of short bets placed on dog-themed meme coins yesterday.
🔍 Notably, data from Coinglass reveals that shorts on Dogecoin, Shiba Inu, Pepe, Floki and Bonk saw over $50 million in liquidations in the past 24 hours. The rally also seems to be fuelled by WIF being the first prominent meme coin to have achieved the $1 price tag.
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/
🔔 MARKET MOVING NEWS! (10/03/24)
1️⃣ MakerDAO Implements Temporary Fee Adjustments Amid Market Volatility ⚡️
MakerDAO has reportedly passed a new Executive Vote to introduce temporary fee adjustments to strengthen the protocol due to heightened market volatility and bullish sentiment. Notably, the adjustments include raising the stability fees on different collateral assets registered on the platform from 15% to 17.25%. It also plans to increase the SparkLend DAI Borrow APY from the current 6.7% to 16%.
The proposal states,
Liquid stablecoin reserves and reserves deployed to RWAs are more than sufficient to sustain the increasing pressure generated by the potential bullish market sentiment. The issue lies in the liquidity crunch inherent in the exposure toward stablecoins deployed through RWAs.
Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues. Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin. The problem of course is that it also works in reverse.
🔔 MARKET MOVING NEWS! (09/03/24)
1️⃣ Wyoming Passes Law Granting DAOs Legal Status ⚡️
Wyoming Governor Mark Gordon has reportedly signed a bill into law establishing a legal framework for the formation and management of DAOs.
Notably, the new framework allows DAOs to register as a ‘Decentralized Unincorporated Nonprofit Association’ (DUNA). A DUNA registration will enable DAOs to engage in legal contracts with other entities and also provide legal protection to individual DAO members. The bill was sponsored by the legislature’s Select Committee on Blockchain, Financial Technology and Digital Innovation Technology.
Source
2️⃣ Appeals Court Revives Aspiring Class Action Lawsuit Against Binance ▶️
The Second Circuit Court of Appeals has reportedly reversed a lower court ruling which dismissed a case filed by a group of investors looking to sue crypto exchange Binance, former CEO Changpeng Zhao and other executives.
The lower court dismissed the lawsuit on the grounds that the plaintiffs had filed the lawsuit after the statute of limitations expired. It also stated that Binance was not a domestic exchange and did not have strong enough ties within the U.S. to meet the standards of federal securities laws. However, the appeals court’s reversal of this ruling was made on the grounds that the plaintiffs had "plausibly alleged" that transactions involving the assets in question were finalised on servers within the U.S. and that they had accessed Binance from the U.S.
Source
3️⃣ Stablecoin Project Ethena Labs Bags $4M for USDe Treasury 📈
Stablecoin project Ethena Labs has reportedly managed to accumulate over $4 million in revenue for its treasury less than two weeks after going live. Notably, the earnings have catapulted Ethena to the third-largest revenue generator in the crypto market behind the Tron and Ethereum blockchains.
Source
4️⃣ Arbitrum DAO Votes On $1M Fund for Tornado Cash Devs' Legal Defense 🔍
On March 7, a pseudonymous delegate named ‘DK’ reportedly submitted a proposal which seeks to fund a “robust legal defense” for Tornado Cash developers Roman Storm and Alexey Pertsev, on the Arbitrum governance forum. The Arbitrum DAO is currently voting on this proposal. If approved, the community would donate up to 600,000 ARB tokens in the first year (worth nearly $1.3 million). In addition, the funds could be used for public relations and advocacy efforts promoting awareness around privacy-preserving technologies and legal burdens for developers.
Source
5️⃣ Crypto Investment Scam Losses in U.S. Grew 53% to $3.94B in 2023: FBI 🥶
According to a new report by the Federal Bureau of Investigation (FBI), cryptocurrency-related investment fraud constituted the largest portion of investment losses within the U.S. last year. Specifically, losses from crypto-investment fraud totalled $3.94 billion in 2023. This is an increase of 53% compared to $2.57 billion in 2022. The FBI emphasized that victims are drawn into crypto scams enticed by the promise of significant returns on their investments. A common crypto scam people are reportedly falling victim to is romance scams.
Source
🔔 MARKET MOVING NEWS! (08/03/24)
1️⃣ Pantera Raising Funds to Buy Solana Holding From FTX ☄️
According to a Bloomberg report, crypto fund Pantera Capital is raising fresh capital from large investors to buy Solana tokens from the estate of the bankrupt FTX exchange.
Notably, Pantera sent marketing materials about the Pantera Solana Fund to prospective investors last month. The materials reveal that the Pantera Solana Fund has an “opportunity” to buy up to $250 million worth of SOL tokens from the FTX estate at 39% below a 30-day average price of $59.95. Additionally, investors must agree to a vesting period as long as four years.
Source
2️⃣ US to Contest Kwon Extradition to South Korea in Crypto Case ‼️
According to a Bloomberg report, United States Prosecutors will continue to seek extradition of former cryptocurrency mogul Do Kwon despite Montenegro’s High Court's recent ruling to hand him over to South Korea to face criminal charges over the collapse of Terra.
The U.S. Justice Department stated,
The United States continues to seek Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin law. The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.
While this seems to be an unorthodox move for a decentralized wallet suite, inaccessibility is a pressing issue plaguing crypto users that needs to be solved for better onboarding and adoption. This will be the first truly crypto-friendly banking experience for retail users that eliminates the excessive scrutiny and restriction of traditional banks, as the accounts created via the mobile wallet will support transfers to accounts in other banks under their name in a seamless and compliant manner.
🔔 MARKET MOVING NEWS! (07/03/24)
1️⃣ Bitcoin’s ‘Kimchi Premium’ Hits Two-Year High In South Korea 📈
According to data from CryptoQuant, the South Korean crypto market’s “Kimchi Premium” reached a 27-month high of 10.32% for BTC on Wednesday. The Kimchi Premium is a term used to refer to the price difference between crypto tokens in South Korea and elsewhere. Notably, due to a limited supply of crypto domestically, a surge in local demand often leads to a bigger price gap. The rise in the premium may indicate stronger buying pressure from South Korea’s retail investors.
Source
2️⃣ Spain Blocks Sam Altman’s Worldcoin ❌
The Spanish Agency for the Protection of Data (AEPD) has reportedly issued a temporary order banning Worldcoin from collecting and processing data in Spain for a period of three months. The regulator stated that it received several complaints about insufficient information, the collection of data from minors and that consent cannot be withdrawn, among other infringements.
Worldcoin responded to the allegations stating,
For months we have been engaged with Bavarian data protection authority (BayLDA), who are the lead supervisory authority under the GDPR for Worldcoin Foundation and Tools for Humanity. The Spanish data protection authority (AEPD) is circumventing EU law with their actions today, which are limited to Spain and not the broader EU, and spreading inaccurate and misleading claims about our technology globally. Our efforts to engage with the AEPD and provide them with an accurate view of Worldcoin and World ID have gone unanswered for months. We are grateful to now have the opportunity to help them better understand the important facts regarding this essential and lawful technology.
🔔 MARKET MOVING NEWS! (06/03/24)
1️⃣ ShapeShift Settles SEC Charges It Sold Crypto Securities ▶️
The U.S. Securities and Exchange Commission (SEC) has reportedly accepted a settlement offer by ShapeShift. Notably, ShapeShift is a crypto exchange that shut down its U.S. exchange operations after the SEC filed a cease and desist order alleging that it operated before 2021 as an unregistered dealer for cryptocurrencies that were securities. The settlement offer includes a $275,000 fine and an agreement that the company would no longer violate the Securities Exchange Act.
Source
2️⃣ Astar Network Launches Astar zkEVM on Polygon AggLayer 🔼
Astar, a blockchain network prominent in the Japanese Web3 community, announced the launch of Astar zkEVM yesterday. Notably, Astar zkEVM will be the first layer-2 chain to integrate into Polygon’s AggLayer.
Sota Watanabe, the founder of Astar Network, states the move came as part of Japan’s national tech strategy,
Our integration in the AggLayer and continuous investment in development solidifies Astar zkEVM’s position as Japan’s web3 authority for innovation, entertainment, and retail dApps, positioning Astar at the forefront of Japan’s web3 expansion in the enterprise, retail, and government sectors, accelerating the growth of web3.
This partnership is really about giving our users what they want – more control over their crypto, in a straightforward way, using platforms they already know and trust. It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people.
🔔 MARKET MOVING NEWS! (05/03/24)
1️⃣ MicroStrategy to Offer $600 Million in Convertible Notes to Buy More Bitcoin 💸
According to a Bloomberg report, MicroStrategy, the largest corporate holder of Bitcoin, is planning to sell $600 million worth of senior convertible notes to qualified institutional buyers. Notably, senior convertible notes are a debt security that can be converted into equity at a later date.
MicroStrategy stated that it "intends to use" the net proceeds from the sale of the notes to buy more Bitcoin for general corporate purposes. It also stated that it expects to grant to the initial purchasers of the notes an option to purchase up to an additional $90 million aggregate principal amount of the notes. The notes will reportedly mature on March 15, 2030, unless earlier repurchased, redeemed or converted per their terms.
Source
2️⃣ Tether Launches Recovery Tool To Migrate USDT Between Blockchains 🛠
Stablecoin issuer Tether has reportedly launched a recovery tool that will allow users to migrate their USDT stablecoin between different blockchains if a supported blockchain becomes unresponsive, unreliable, or unusable. Notably, Tether stated that the blockchain recovery plan was launched to ensure uninterrupted accessibility and security for its users. According to data from Tether, USDT currently resides on 14 blockchains including Tron, Ethereum, Solana, Avalanche and Omni. Among these, Tron and Ethereum are the two largest blockchains for USDT, accounting for 51% and 43% of all issued USDT, respectively.
Source
3️⃣ SEC Pushes Back Blackrock, Fidelity Spot Ethereum ETF Proposals 🔍
The U.S. Securities and Exchange Commission has reportedly delayed its decision to approve or reject BlackRock and Fidelity’s spot Ether exchange-traded funds (ETFs). However, the SEC’s delay doesn’t come as a surprise since market commentators and ETF analysts have long speculated that the SEC will only decide to approve or deny the ETFs once the first final deadline arrives in May.
Source
4️⃣ Someone Just Bought a CryptoPunks NFT for $16 Million in Ethereum 💰
An anonymous bidder purchased a rare alien CryptoPunks NFT (CryptoPunk #3100) for 4,500 ETH (roughly $16M) yesterday. Notably, the sale marked the second-highest selling price ever for a CryptoPunk. Interestingly, the wallet that purchased the NFT appears to have been created only four days ago and used exclusively to purchase the NFT.
Source
5️⃣ Fantom Seeks Money Back From Multichain’s $200M Exploit 🥶
The Fantom Foundation – the entity that maintains and helps develop the Fantom blockchain, has reportedly approached the Singapore High Court asking to declare Multichain Foundation ‘bankrupt’. Notably, this will allow the entity to institute proceedings that will help recover the $122 million that was stolen from Multichain’s Fantom bridge last year.
The foundation reportedly won a default judgment in Singapore in January when Multichain failed to respond. Fantom stated,
While the current judgment relates only to Fantom Foundation’s own losses, the Foundation plans to use this legal victory to pave a path for all users to lodge their claims against Multichain.
🔔 MARKET MOVING NEWS! (04/03/24)
1️⃣ Nigerian Committee Summons Binance CEO Over Financial Crime Suspicions 🔍
According to local media reports, the Nigerian House of Representatives Committee on Financial Crimes has called Binance CEO Richard Teng to appear before the committee over suspicions of terrorism financing and money laundering. Notably, the chairman of the Committee, Ginger Onwusibe, issued a seven-day ultimatum to the management of Binance Holdings LTD., to appear before the committee on or before March 4, 2024.
The report also reveals that the committee had previously sent a letter dated Dec. 12, 2023, calling for Teng to appear before a hearing on Dec. 18, 2023. Onwusibe expressed his disappointment at Teng for not attending despite multiple invitations. He warned that if Binance ignores the summons, the committee will exercise its constitutional authority and take necessary actions.
Source
2️⃣ Bitcoin Daily Withdrawals Challenge Records As $2B Leaves Exchanges ‼️
According to a tweet by CryptoSlate research analyst James Van Straten, Bitcoin is leaving exchanges at the quickest rate in years. Specifically, he noted that over $2B of BTC has left exchanges. This is one of the biggest withdrawals in over 5 years. The biggest outflows seem to come from crypto exchanges Binance and Coinbase.
Source
3️⃣ Bitcoin NFTs Make Comeback In Weekly Sales, Flipping Ethereum 🔼
According to data from CryptoSlam!, the sales of NFTs on Bitcoin have surpassed Ethereum over the last seven days. Specifically, Bitcoin NFT sales rocketed 80% week-over-week to $168.5 million, while Ethereum only drew in $162 million in sales. This follows a sudden spike in sales of Bitcoin Ordinals-based NFT collections, led largely by the collection NodeMonkes.
Source
4️⃣ U.S. Judge Enters Default Ruling Against Ex-Coinbase Insider, Says Secondary Market Sales Are Securities Transactions ▶️
In a recent judgement passed in the Coinbase Insider trading case, a U.S. court ruled that trading certain crypto assets on a secondary market, such as Coinbase, constitutes securities transactions. Notably, the court took this critical position in a default judgment against co-defendant Sameer Ramani.
The ruling stated,
The court’s analysis remains the same even to the extent Ramani traded tokens on the secondary market [...] Each issuer continued to make such representation regarding the profitability of their tokens even as the tokens were traded on secondary markets. Thus, under Howey, all of the crypto assets that Ramani purchased and traded were investment contracts.
🔔 MARKET MOVING NEWS! (03/03/24)
1️⃣ FTX Claim Window Prices Bitcoin, Ethereum, Others Below Market Rates 🔍
The prices of major crypto assets such as Bitcoin, Ethereum, Solana and BNB on crypto exchange FTX’s recently opened claim window are reportedly priced significantly lower than the current market values. Specifically, the claim window shows that the price of BTC is $16,871, ETH is $1,258, SOL is $16.24, and BNB is $286. These figures starkly contrast the current market rates, which are $62,144 for BTC, $3,424.62 for ETH, $129.96 for SOL, and $411.32 for BNB.
While many creditors have taken to social media platform X to express their concerns, FTX’s official liquidator notified creditors to submit electronic claims by May 15, 2024. The claims portal is expected to make its first interim distribution in late 2024 or early 2025, with all eligible claims denominated in United States dollars.
Source
2️⃣ Taiko, an 'Ethereum-Equivalent ZK Rollup,' Raises $15M 💰
Ethereum layer-2 scaling solution provider Taiko has reportedly raised $15 million in a series A funding round. The round was led by Lightspeed Faction, Hashed, Generative Ventures and Token Bay Capital. It also saw participation from other investors such as Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR and WW Ventures. Notably, the latest round brings Taiko's total fundraising across three rounds to $37 million.
Samuel Harrison, the founding partner at Lightspeed Faction stated,
Amongst an explosion of new rollups, Taiko stands out due to its passionate community, paired with a based sequencing architecture, which uniquely simplifies the L2 value chain, streamlining trust assumptions and removing friction for developer adoption.
🔔 MARKET MOVING NEWS! (02/03/24)
1️⃣ Worldcoin’s WLD Drops as Elon Musk Sues OpenAI 🔽
The price of Worldcoin’s WLD token fell by 2.2% after Reuters reported that tech investor Elon Musk sued AI development firm OpenAI and CEO Sam Altman for breach of contract. Specifically, Musk accused the entities of breaching contractual agreements made when he helped found the company in 2015. He argued that OpenAI’s collaboration with Microsoft has deviated from its foundational principles of advancing open-source artificial general intelligence for the benefit of humanity.
Source
2️⃣ Nigeria Denies Report Of $10B Binance Fine 🔍
Earlier today, the BBC published a report claiming that the Nigerian government has asked Binance to pay a $10 billion fine for reportedly enabling $26 billion of untraceable funds to leave the country. However, Bayo Onanuga, a special adviser to the Nigerian president on information and strategy, says the allegations reported by the BBC result from a misquotation.
He clarified that there hasn’t been a definitive decision to fine Binance and that he did not state that Binance was informed about the fines or that it would be $10 billion. He reportedly only mentioned the possibility of a fine, nothing else.
Source
3️⃣ US Energy Officials Agree To 'Destroy' All Data From Crypto Mining Survey 🔥
The Energy Information Administration (EIA), a division within the Department of Energy, has reportedly reached an agreement with the Texas Blockchain Council (TBC) and Bitcoin mining firm Riot Platforms to cease its proposed emergency survey targeting crypto miners across the country. The EIA also stated that all information previously collected from crypto miners for the survey will be deleted, and any forthcoming data will also be discarded. Instead, the EIA will now publish a notice proposing its planned miner survey, taking comments for 60 days. The notice will replace the previous survey, which was issued under emergency status.
Source
4️⃣ Wall Street Journal Accused of Defamation Over 2023 Tether-Bitfinex Article ‼️
Christopher Harborne and his company, AML Global Ltd., have reportedly filed a defamation lawsuit against news organisation ‘The Wall Street Journal’ for allegedly spreading false accusations of fraud, money laundering, and financing terrorism in a March 2023 article. The lawsuit accuses The Wall Street Journal of knowingly publishing false accusations despite possessing documentation that proved their falsity
A Wall Street Journal representative stated,
More than nine months after the article was published, counsel for Mr. Harborne and AML Global contacted us to dispute the five paragraphs that included reporting about them. Following our review, we removed this section from the article and appended an Editor's Note in accordance with our editorial standards. The lawsuit they filed against Dow Jones is itself replete with inaccuracies and distortions. We take our journalistic responsibilities seriously, and we intend to mount a robust legal defense.