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🔔 MARKET MOVING NEWS! (05/07/24)
1️⃣ U.S. Nonfarm Payrolls Data Released ⚡️
The U.S. announced that the seasonally adjusted non-farm payrolls increased by 206,000 in June, compared with 272,000 in the previous month and 190,000 expected. The unemployment rate rose to 4.1% in June, compared with 4% in the previous month and 4% expected. The last time unemployment was above 4% was in November 2021, when the rate was also 4.1%. Notably, labour market weakness is expected to be bullish since this makes it more likely that the Fed will consider lowering interest rates, which increases the attractiveness of risk assets like stocks and crypto.
Source
2️⃣ Mt Gox Creditors May Have To Wait For Up To Three Months To Receive Their Bitcoin 💸
Earlier today, defunct crypto exchange Mt Gox announced that it had started making repayments to customers. The announcement comes after on-chain intelligence firm Arkham Intelligence reported that Mt. Gox had transferred 47,229 Bitcoin (worth $2.71 billion) to a new wallet address in its first major transaction since May.
While the process has been initiated, Mt Gox creditors may have to wait up to three months to receive their Bitcoin or Bitcoin Cash repayments. Specifically, the document states that the timeline for repayments varies depending on the exchanges, with Kraken taking up to 90 days, Bitstamp taking up to 60 days, BitGo taking up to 20 days, and SBI VC Trade and Bitbank completing payouts within 14 days.
Source
3️⃣ Crypto Exchanges Subject to EU Travel Rule In 6 Months 🤔
The European Banking Authority (EBA) has announced that it will be extending the Travel Rules guidelines to crypto service providers and their intermediaries from Dec. 30th. Notably, the travel rules mandate reporting information on transfers of funds and crypto assets. As a result, crypto asset service providers (CASPs), as defined in the EU’s MiCA regulation, will be subject to the EU’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime.
Source
4️⃣ Crypto Exchange KuCoin Adds 7.5% Tax for Nigeria Users, Citing 'Regulatory Update' ‼️
On Wednesday, crypto exchange KuCoin announced it would begin charging Nigerian users a value-added tax (VAT) on transactions. Specifically, the new VAT charges would be implemented starting July 8th at a rate of 7.5% on transaction fees in each trade. The exchange cited a “regulatory update” in the email it sent to customers. The tax reportedly applies to “all transaction types on the KuCoin platform.”
Source
🚨 New Video Alert!! 🚨
Let's be honest, the last few weeks and months in crypto have been all over the place. So much so, that getting a grip on what’s going on is easier said than done.
So, when a crypto exchange releases a report that sums up exactly that, it’s safe to say that we should all be paying attention. That’s because out of any entity out there, it’s exchanges that will have their finger on the pulse before anyone else.
As it happens, one of the largest exchanges out there, Kucoin, has released their monthly crypto research report for June 2024. It reveals that there’s been a LOT happening lately, so we thought it’s high time we summarise this report for you guys, and tell you what this could all mean for the market.
So, grab your popcorn, fire up that like button, sit back and enjoy!
🔥 Rally Report 🔥
MANTRA
The price of OM has rallied by 8% in the past 24 hours.
WHY?!
☄️The Mantra Chain announced that it will tokenise $500 million worth of real estate assets of Dubai-based real estate developer MAG Group. The assets will be tokenised in multiple tranches, with the first tranche including a residential project and a $75 million mega-mansion.
💰 Investors will earn yield through stablecoins and Mantra's OM token. They are expected to receive yields of 8% from the stablecoins and be granted additional OM tokens. The specifics of the yield, such as the stablecoin to be used and the amount of OM to be allocated, are still under discussion.
If you want to buy or trade OM, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as a 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🚨 New Video Alert!! 🚨
Back in 2021, El Salvador made Bitcoin legal tender. It was a monumental moment in Crypto’s history, and marked the dawn of a new era.
Since then, many people have been speculating about which central bank will be next in line to start holding crypto as a reserve asset, and if - or when - they’ll do it. And, if they do begin hoarding BTC, will they also look to buy up other cryptocurrencies while they’re at it?
Today’s video takes a hard look at just that. We’ll discuss why central banks have crypto on their radars, why they could hold BTC, altcoins that could be considered, and what this could all mean for the crypto market.
We’ll see you at the like button. Enjoy!
https://youtu.be/8cP_m0LrnNE?si=luLx9lwSi8uobgWl
Читать полностью…
🔔 MARKET MOVING NEWS! (02/07/24)
1️⃣ Roaring Kitty Fraud Lawsuit Over GameStop Dropped After 3 Days 🤔
Martin Radev, who recently filed a class action lawsuit against Keith Gill (aka Roaring Kitty) over alleged securities fraud, has reportedly dropped his lawsuit just three days after filing it.
Radev submitted a voluntary motion to dismiss in the United States District Court for the Eastern District of New York. While it remains unclear why the lawsuit was dropped so quickly, it appears the suit was dropped “without prejudice.” This means that Radev can file a similar lawsuit again in the future.
Source
2️⃣ Circle Snags First Stablecoin License Under EU's New MiCA Crypto Rules ‼️
Stablecoin issuer Circle has reportedly secured an Electronic Money Institution (EMI) license under the Markets in Crypto Assets (MiCA) regulatory framework. Notably, this makes Circle the first global stablecoin issuer to gain regulatory approval under the European Union's MiCA regulatory framework.
Circle CEO Jeremy Allaire announced that, effective immediately, the firm’s USDC and EURC stablecoins are regulatory compliant under the new rules. Allaire then announced that Circle chose France as the company’s European headquarters citing France’s forward-looking stance on digital asset regulation and Circle’s working relationship with the French Prudential Supervision and Resolution Authority.
Source
3️⃣ DOJ's US Marshals Service Chooses Coinbase to Custody Crypto Assets ☄️
The U.S. Marshals Service (USMS), a division of the U.S. Department of Justice, has reportedly awarded Coinbase Prime a contract to manage and dispose of its large-cap cryptocurrency assets. Notably, this includes custody of crypto seized by the Department of Justice. This decision comes after a bidding process initiated earlier this year. The contract is structured as a single-award Indefinite Delivery/Indefinite Quantity (IDIQ) agreement with an initial ordering period of five years, with the possibility of a six-month extension.
Source
4️⃣ Ethereum Products See Highest Outflows Since 2022 Ahead of Ether ETFs 🕯
According to a CoinShares report that was published yesterday, investors withdrew over $120 million from ETH-tracked exchange-traded products in the past two weeks. Notably, this records the highest outflow since August 2022 and has made Ether funds the worst-performing asset year-to-date in terms of net flows. The outflows come as Ether ETFs are close to becoming available for trading in the U.S. after the Securities and Exchange Commission (SEC) approved applicants' filings last month. Conversely, multi-asset and Bitcoin ETPs led the inflows with $18 million and $10 million respectively.
Source
5️⃣ Evolve Bank Leak Has Personal Data Of Bitfinex, Copper Banking, Nomad Users ‼️
According to a Protos report, crypto-friendly bank Evolve Bank has known about the ‘data leak,’ it notified users of last week, for over a month. Specifically, it admitted that 33 TB of user data was stolen a month ago by a Russian ransomware gang Lockbit after an employee accidentally clicked a malicious link.
The data reportedly comes from 155,586 accounts linked to firms including Bitfinex, Nomad, and Copper Banking. The stolen data included personally identifiable information (PII), such as name, address, social security and tax ID number, date of birth, account balance, and email address. The bank claims it stopped the attack ‘within days’ and hasn’t seen any more unauthorised activity since May 31.
Source
6️⃣ Bahamas Plans Regulations For Banks To Distribute Sand Dollar CBDC: Report ❓
The Bahamas’ central bank is reportedly developing regulations that would require commercial banks to offer access to the ‘Sand Dollar’ - its central bank digital currency. John Rolle, the Bahamas' central bank governor, stated that the regulations are an attempt to boost the adoption of the Sand Dollar, which remains limited.
Source
🔔 MARKET MOVING NEWS! (01/07/24)
1️⃣ Metaplanet Buys Another $1.2M Worth of Bitcoin as Investment Strategy Progresses 💸
Metaplanet, a publicly listed Japanese investment adviser, has reportedly spent $1.2 million to buy 20.2 BTC. The recent investment has taken its total holdings to 161.3 BTC and is part of a $6 million strategy to boost BTC holdings in its treasury.
Source
2️⃣ Tether Forms Partnership That Allows Filipinos to Adopt Tether’s USDT For Social Security Payments 🤝
Stablecoin issuer Tether has reportedly partnered with Uquid, a decentralised business infrastructure platform, to allow Filipinos to pay social security funds with USDT on the TON blockchain. The Social Security System of the Philippines is a state-run social insurance program that provides services to employees in the official, informal and private sectors. Uquid said the partnership with Tether highlights how stablecoins like USDT and “crypto in general can simplify and enhance our daily lives.”
Source
3️⃣ Sony Gets Ready To Launch Crypto Exchange In Japan With Acquired Amber Platform ⚡️
Sony is reportedly preparing to launch a crypto exchange subsidiary by rebranding and revamping the local trading platform WhaleFin, which it acquired from crypto lender Amber Group last year. The subsidiary, named S.BLOX Co., will collaborate with Sony Group's other businesses to generate additional value for its crypto trading services. The revamp includes a redesign of the user interface and the introduction of a new mobile app for easier use.
Source
4️⃣ Hawaii Crypto Firms No Longer Need MT License, Regulator Rules ▶️
According to an official statement published on June 28, digital currency companies will no longer require the state's money transmitter license to conduct business within the state. The Hawaii Department of Commerce and Consumer Affairs stated that companies will be able to “continue transaction activity as an unregulated business.” However, it also noted that crypto companies will still be responsible for complying with any applicable federal licensing or registration requirements. Such requirements will include those set forth by the Financial Crimes Enforcement Network, the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
Source
5️⃣ Polymarket Monthly Volume Hits $100M As Presidential Race Heats Up 📈
Decentralised predictions platform Polymarket has reportedly hit $100 million in monthly trading volume in Jun. Notably, the spike in monthly trading volume comes as bettors upped their stakes on how they think the United States presidential election will play out. The platform shows that there is $203.3 million worth of bets in “Presidential Election Winner 2024.” Former President Donald Trump appears to be the current favourite, with 62% odds that he will win the U.S. election, with a total of $24.7 million in bets for and against him.
Source
6️⃣ Roaring Kitty Faces Securities Fraud Claims In ‘Doomed’ GME Lawsuit 🤔
Stock trader Keith Gill, aka Roaring Kitty, is reportedly facing securities fraud claims in a class-action lawsuit filed over a recent spate of social media posts that saw the price of GameStop stocks whipsaw violently between May and June. The complaint accuses Gill of orchestrating a “pump and dump” scheme for personal gain with a series of cryptic social media posts beginning May 13. While the outcome of the lawsuit remains to be seen, former federal prosecutor Eric Rosen believes the lawsuit is likely “doomed” to fail. Rosen stated that the lawsuit’s main claim (that Gill should have disclosed his intent to sell his options) would not hold up well in court, as no “reasonable person, let alone a reasonable investor,” would expect Gill to hold onto all of his calls until the exact time and date of their expiry.
Source
https://youtu.be/BSIXjlYN9xM?si=r7BNkT_sgb94pYh2
Читать полностью…
🔔 MARKET MOVING NEWS! (30/06/24)
1️⃣ Number Of Crypto ATMs Installed Nears Its All-Time Record 💸
According to data from Coin ATM Radar, the number of cryptocurrency ATMs installed worldwide has spiked 17.8% to 38,279 over the last 12 months. Notably, this is close to its record of 39,541 set in December 2022. As of 2024, there have been 2,564 new cryptocurrency ATMs installed, indicating a positive trend compared to the net loss of 2,861 machines in 2023.
Source
2️⃣ Runes Transactions On Bitcoin Tank Over 88% In June 🔽
According to Dune Analytics data from Crypto Koryo, the daily average transaction count of Runes, a new token standard on the Bitcoin blockchain, has plummeted over 88% from its highest point in June. Notably, the average daily Runes transactions from June 22–28 was 37,820, a nearly 90% drop from the 331,040 daily average recorded between June 9–15. This includes 23,238 transactions made on June 24 — the lowest since the protocol launched at Bitcoin’s fourth halving event on April 20. The lower transaction count has resulted in Bitcoin miners earning less than 2 Bitcoin combined from Runes transactions over the past six days, a significant decrease from the record high of 884 Bitcoin on April 24.
Source
3️⃣ Floki Inu Warns Of Fake Tokens On Solana And Base Blockchains ❌
The Floki Inu memecoin project has issued an announcement warning about ongoing scams involving unauthorised tokens falsely associated with its brand. The fraudulent tokens have surfaced on the Solana and Base blockchains, misleading investors. The announcement highlighted that the legitimate Floki Inu (FLOKI) token is exclusively available on the BNB Smart Chain and Ethereum networks. Floki Inu urged its community to obtain token information only from official sources to prevent falling victim to these fraudulent schemes.
Source
4️⃣ Vitalik Buterin Says Crypto Regulations Have Created ‘Anarcho-Tyranny’ 🤔
In a recent post on Warpcast, Ethereum founder Vitalik Buterin expressed his frustration over the current state of cryptocurrency regulation and offered up a better solution to the problem.
He stated,
The main challenge with crypto regulation (esp in the US) has always been this phenomenon where if you do something useless, or something where you’re asking people to give you money in exchange for vague references to potential returns at best, you are free and clear, but if you try to give your customers a clear story of where returns come from, and promises about what rights they have, then you’re screwed because you’re “a security.” The incentive gradient that this "anarcho-tyranny” creates ends up worse for the space than either plain anarchy or plain tyranny. I would much rather see us move to the opposite situation, where issuing a token _without_ giving a clear long-term story for why it will maintain or increase in economic value is the riskier thing, and if you _do_ give such a long-term story and follow basic best practices then you're safe. Actually getting to this will require good-faith engagement, both from regulators and from industry.
While there had been reports that the ETFs could go live as early as July 4th, this is now out of the question. Senior Bloomberg ETF analyst Eric Balchunas has revised his predicted timeline for spot Ether ETF approvals, stating that the process will likely resume on July 8th.
Source
Bolivia’s central bank, ‘Banco Central de Bolivia’, has reportedly lifted its ban on Bitcoin and crypto payments. The central bank said the move was made to help Bolivia elevate its struggling economy and align it with Latin American crypto regulations. The change in regulatory stance marks the end of a ban on crypto use in the country that began in 2014. While the central bank clarified that cryptocurrencies are not accepted as forms of legal tender, the recently approved regulations allow banks to transact in cryptocurrencies via approved electronic channels.
Source
🔥 Rally Report 🔥
AKASH NETWORK
The price of AKT has rallied by 16% in the past 24 hours.
WHY?!
📈 The rally seems to be led by speculative trading activity on South Korean crypto exchanges. Notably, the AKT/KRW pair on the crypto exchange Upbit saw a daily trading volume of $53M, accounting for nearly 57% of AKT’s global trading volume today
☄️ Crypto.com also announced that AKT is now available for on-chain Staking in the Crypto․com App.
If you want to buy or trade AKT, we have an exclusive trading fee discount of up to 60% on Kucoin 👇
🔗 https://www.coinbureau.com/deals/trading/kucoin/
🚨 New Video Alert!! 🚨
Just how much has crypto been adopted? It’s a question we’re sure many of you have wondered at some point. Well, as it happens, a report from Triple-A has all the answers.
The thing is, crypto adoption isn’t just about how many people are stacking Sats, or about finding the fastest way to the moon. While many of us are in the crypto space to make some mad gains, there are plenty of others out there who use cryptocurrencies out of necessity.
That’s why today, we’ll be taking a look at this report, and tell you how many people in the world are using crypto, why it’s become such a crucial part of everyday life for some folk, and even which cryptos could stand to benefit most as adoption ramps up.
This is a video that you have to watch till the end.
Enjoy!
🔔 MARKET MOVING NEWS! (04/07/24)
1️⃣ Crypto Market Sees $295 Million In Liquidations Across Exchanges Over Past 24 Hours 🔽
According to data from Coinglass, centralised exchanges saw over $77 million in BTC long liquidations in the past 24 hours. The broader cryptocurrency market also saw over $295 million in liquidations on centralised exchanges, with around $259 million in long positions. Ether also faced significant liquidations, with over $71 million liquidated — of which $62 million were long positions.
Source
2️⃣ Basel Committee Approves Disclosure Framework for Crypto Exposures ‼️
The Basel Committee on Banking Supervision, the primary global standard setter for prudential banks, has reportedly approved a disclosure framework for banks' exposure to crypto assets. The framework requires banks to disclose qualitative information on their crypto activities and quantitative information on their exposure to crypto. The disclosure framework is expected to be implemented by the start of 2026.
Source
3️⃣ German Government Transfers $172M In Bitcoin To Multiple Locations 💸
A crypto wallet linked to the German government has reportedly transferred 3,000 BTC (worth $175 million) to various addresses. Of the 3000 BTC, the German government transferred 1700 BTC to an unidentified address starting with "139Po," while 500 bitcoins were sent to Bitstamp, 400 bitcoins to Coinbase, and 400 bitcoins to Kraken. This is the latest in a series of transactions made by the German government, indicating a potential intention to sell the assets. The government currently holds 40,359 bitcoins, worth about $2.32 billion.
Source
4️⃣ Consensys Acquires Wallet Guard To Help Protect Metamask Users Against Hacks And Scams 💰
MetaMask wallet developer Consensys has reportedly acquired the crypto security app Wallet Guard. The acquisition aims to integrate Wallet Guard’s advanced security features into MetaMask to improve user protection within Web3. The integration will reportedly improve drainer detection via transaction validation and client-side heuristics, providing users with real-time protection against malicious dapps and scams. Notably, the acquisition follows Consensys' integration of Blockaid security alerts into MetaMask earlier this year.
Source
5️⃣ The SEC Is Now Going After Crypto VCs, Says BlockTower Capital Founder 🔍
In a recent episode of the Unchained podcast, BlockTower Capital’s chief investment officer Ari Paul revealed that the US Securities and Exchange Commission has launched a “bunch of investigations” targeting crypto venture capital firms for “acting as unregistered securities dealers.” The development marks the latest escalation in the SEC’s crackdown on the digital assets industry.
Source
🔔 MARKET MOVING NEWS! (03/07/24)
1️⃣ Ethereum Will Outperform Bitcoin After ETF Launch — K33 Research 📈
In a report published yesterday, K33 analysts Vetle Lunde and David Zimmerman state that the launch of spot Ether exchange-traded funds (ETFs) could see the price of ETH outperform BTC in the weeks after they go live in the United States. Specifically, the analysts note that Bitcoin is set to face selling pressure from $8.5 billion worth of BTC being returned to creditors of collapsed exchange Mt. Gox starting this week. Lunde and Zimmerman also state that it’s reasonable to expect the price of ETH to “stumble immediately following the launch of the ETFs” but noted that inflows to the spot funds would likely bolster ETH’s price.
Source
2️⃣ Sydney Sweeney's Twitter Account Hacked to Pump Yet Another Meme Coin Scam ‼️
Actress Sydney Sweeney's Twitter account appeared to have suffered another crypto-related Twitter hack on Tuesday afternoon. Notably, this is the second time the account was hacked this year. The hackers used her account to promote a Solana meme coin, SWEENEY, which attracted $13 million in trading volume within an hour. The creators of the SWEENEY token's Telegram account admitted to hacking Sweeney's account and claimed responsibility for hacking other celebrities as well.
Source
3️⃣ Binance Executive 'Suffering Immensely' in Nigeria While Authorities Withhold Health Records 🥶
The family of Tigran Gambaryan, a senior executive at Binance being held in a Nigerian jail, said he is “suffering immensely” as the country’s prison officials refused to release health records despite court orders. Gambaryan’s family stated that his health has continued to deteriorate in detention and that he has complained of numbness in his foot as well as back pain. He has had double pneumonia and malaria while in prison.
Source
4️⃣ Bittensor Halts Network After Reported Security Attack On Wallets: ZachXBT ▶️
Decentralised AI project Bittensor has reportedly halted its blockchain network after receiving reports of an unusual attack on Bittensor wallets, potentially involving leaked private keys. According to on-chain sleuth ZachXBT, $8 million worth of TAO was stolen today. All transactions have been paused to prevent further unauthorised access while the team conducts an investigation.
A Bittensor community Discord administrator stated,
We are investigating what appears to have been an attack on a number of Bittensor wallets over the last 3 hours. We are investigating, and in an abundance of caution, have recently fully halted transactions on-chain until there is more information available to us about the nature of this attack.
Domestic major exchanges have been applying key criteria of the best practices pre-emptively since late 2023. Thus, the likelihood of large-scale delistings occurring all at once is low.
🚨 New Video Alert!! 🚨
It’s a critical moment for Ethereum. By the time you read this message, the spot Ethereum ETFs will be live or close to it. This begs the question of what comes next for ETH.
To find the answer, we need to get a sense of what Ethereum has been up to recently. It’s been half a year since our last proper Ethereum update, so it’s safe to say that a lot has happened since then.
Taken together, these factors suggest that the spot Ethereum ETF listings could result in serious volatility for ETH. We take a close look at exactly how high or low ETH could go in either scenario.
This is a video every ETH holder needs to see!
🔥 Rally Report 🔥
BONK
The price of BONK has rallied by 11% in the past 24 hours.
WHY?!
🎙 The official Bonk X account announced that it was hosting a treasure hunt in collaboration with Helio Pay at the London Solana Hacker House. Participants reportedly stand to win 69 million BONK tokens.
❓ The treasure hunt ends on July 5th. Until then, they must physically visit and click pictures at nine locations all over London to get 69 entries for the 69 million BONK grand prize. Participants also reportedly have a chance to win merch, beer, food, and more BONK.
If you want to buy or trade BONK, 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!! 🚨
It’s been a long week, and it’s about time we summed it up. There’s no shortage of stuff to talk about, and the biggest story is one you may have missed: the spot Ethereum ETFs have been delayed.
It’s funny that the SEC just happened to have sued Consensys just before this, and also ironic that asset managers are simultaneously filing for spot Solana ETFs. Meanwhile, BTC is starting to look very bearish.
Besides ongoing BTC sales from governments, it looks like Mt. Gox creditors will soon be getting their long lost sats. For what it’s worth, a few cryptos managed to rally despite these dismal conditions.
Be sure to stick around until the end to find out where they’re headed next!
🔥 Rally Report 🔥
ETHEREUM NAME SERVICE
The price of ENS has rallied by 19% in the past 24 hours.
WHY?!
🤔 The rally is likely a result of traders using ENS as a type of beta play on the price of ETH.
🔍 Notably, spot Ethereum ETFs are expected to be approved in the U.S. over the next few weeks. Also, the price of ETH saw a small rally yesterday as a total of $20.4 million worth of ETH shorts were liquidated.
If you want to buy or trade ENS, 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!! 🚨
It’s no mystery that the World Economic Forum influences a lot of things, yet people often forget that the WEF has a direct influence on the economy despite ‘economy’ being in the name.
Recently, the WEF published an economic report that included projections for what’s coming next. Not surprisingly, the WEF’s own economists believe everything will be just great!
What is surprising is how worried the WEF seems to be about political and geopolitical factors. It’s safe to say that both could throw its so called ‘agenda’ off course.
This is a video you can’t miss…
🔥 Rally Report 🔥
KASPA
The price of KAS has rallied by 8% in the past 24 hours.
WHY?!
🔍 The rally comes ahead of the launch of Kasplex’s open beta on June 30th.
⚡️ Notably, Kasplex, a protocol on the Kaspa ecosystem, plans to introduce the new KRC-20 fungible token standard and also support the creation and management of NFTs on the Kaspa network.
If you want to buy or trade KAS, 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!! 🚨
What the hell is going on with the state of the markets?
Why haven't we seen any movement in Bitcoin despite the ETF flows? Which layer 1s and layer 2s have potential and which are hot air? What do the onchain stats tell us about potential market tops?
Well, most of these questions can be broken down by looking at a collection of 10 charts. These charts come to us courtesy of a Coinbase Half Year institutional report and what they reveal is quite surprising.
In the video today, we break down these charts and explain what it could mean for the crypto market.
Enjoy!
🔔 MARKET MOVING NEWS! (29/06/24)
1️⃣ SEC Sues Consensys Over MetaMask Staking, Broker Allegations ⚡️
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against ConsenSys, alleging that its MetaMask wallet tool's staking features operated as broker services without the appropriate license. The SEC also claimed that MetaMask offered an unregistered securities program through its staking service via Lido and Rocket Pool. The SEC said MetaMask's Lido and Rocket Pool integrations amounted to "investment contracts," suggesting the agency views their popular stETH and rETH liquid staking tokens as unregistered securities.
Source
2️⃣ Supreme Court Overturns 'Chevron Deference'—And That Might Be Good for Crypto ‼️
The U.S. Supreme Court ruled 6-3 on Friday to overturn the Chevron doctrine - a 40-year-old case that allowed federal regulators to enforce their interpretation of ambiguous laws. Experts state that, without the Chevron doctrine, the SEC will have a harder time pursuing an enforcement agenda in the absence of legal and regulatory clarity for the crypto industry.
In his majority opinion on Friday, Chief Justice John Roberts called the Chevron doctrine “unworkable,” adding that it “allows agencies to change course even when Congress has given them no power to do so. By its sheer breadth, Chevron fosters unwarranted instability in the law, leaving those attempting to plan around agency action in an eternal fog of uncertainty.”
Source
3️⃣ IRS Reveals Final Regulations For Crypto Broker Rules 🤔
The Internal Revenue Service (IRS) released the final version of its new crypto broker reporting requirements yesterday. The rule will apply to custodial brokers such as exchanges like Kraken and Coinbase. However, the IRS has delayed making a final determination on whether non-custodial platforms, such as decentralised exchanges (DEXs), will be classified as brokers. Crypto lobbyists expressed concerns that the rule could harm the crypto industry, but the IRS has acknowledged it needed “more time to consider the nuances” of issues involving non-custodial industry participants.
Source
4️⃣ U.S. Judge Lets Most of SEC Case Against Binance Proceed, Dismisses Secondary Sales Charge ‼️
A federal judge has reportedly dismissed part of the U.S. Securities and Exchange Commission's (SEC) lawsuit against crypto exchange Binance and founder Changpeng Zhao. Specifically, the judge granted Binance and Zhao's motion to dismiss charges tied to secondary BNB sales and Simple Earn.
However, the judge allowed other charges, including charges against the holding company for Binance.US to proceed. The judge ruled that the SEC's charges against Binance for the initial coin offering and ongoing sales for BNB, BNB Vault, staking services, failure to register and fraud charges can proceed.
Source
5️⃣ Farcaster Is Getting In-App USDC Payments 💰
Decentralised social media protocol Farcaster has introduced a new in-app payments feature using USDC stablecoins. The feature allows users to make 1-tap payments from their profile or the app's messaging platform, eliminating the need to look up someone's wallet address. Founder Dan Romero confirmed the application will only use USDC on Base at launch. However, he stated that the open protocol allows for other currencies and chains to be integrated. The introduction of the in-app payments feature is part of Farcaster's efforts to make its client app, Warpcast, more user-friendly and competitive in the market.
Source
6️⃣ SEC Returns S-1 Forms To Ethereum ETF Issuers, With At Least One More Round To Go: Source 🔍
According to a report by The Block, the U.S. Securities and Exchange Commission has returned the S-1 forms to prospective Ethereum ETF issuers with light comments. The issuers have been asked to address the comments and refile them by July 8. The report states that there will need to be at least one more round of filings before the ETFs can finally start trading.
🔔 MARKET MOVING NEWS! (28/06/24)
1️⃣ VanEck Files For Solana ETF In The US, Claiming SOL Is A Commodity ⚡️
Asset manager VanEck has reportedly filed an application to list a Solana spot exchange-traded fund (ETF) in the US. According to the filing, the VanEck Solana Trust would be listed on the Cboe BZX Exchange and would hold SOL directly, valuing its shares daily based on the reported MarketVector Solana Benchmark Rate. Notably, the US Securities and Exchange Commission (SEC) has previously classified SOL as a security in an enforcement action against Binance. However, VanEck argues that SOL should be considered a commodity because it functions similarly to Bitcoin and Ethereum.
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2️⃣ T-Rex Group Files for 2x Long, Inverse Microstrategy ETF 🔍
According to a filing published on the Securities and Exchange Commission's EDGAR platform, ETF issuer T-Rex Group has filed for an ETF that will take a 2x long position in bitcoin-heavy Microstrategy. The ETF reportedly aims to achieve 200% of MicroStrategy's daily performance. T-Rex also filed for an ETF that would take a 2x inverted position in MSTR. Effectively, both listed products would be leveraged long or short on Bitcoin. Senior Bloomberg ETF analyst Eric Balchunas said if the fund were approved, it would expose investors to around 20 times the typical volatility of the S&P 500.
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3️⃣ Coinbase Won't Handle AI Token Merger for Users ▶️
U.S. crypto exchange Coinbase has announced that it “will not execute” the upcoming migration of tokens for the Artificial Superintelligence Alliance (ASI). This means Coinbase users will need to figure out the ins and outs of this highly anticipated token merger for themselves.
However, the crypto exchange provided a workaround, stating
For the ASI token migration, Coinbase will not migrate these tokens on behalf of users, but users will be able to migrate their own OCEAN and FET to ASI using Coinbase Prime Web3 wallet or another Ethereum-compatible self-custody wallet […] Coinbase does not currently support [SingularityNET token] AGIX on our platform, which is why this was not included.
🔔 MARKET MOVING NEWS! (27/06/24)
1️⃣ US Government Just Sent $240M in Bitcoin to Coinbase—Another Selloff? ❓
According to onchain intelligence firm Arkham Intelligence, a wallet address tagged as belonging to the United States government sent 3,940 Bitcoin to a Coinbase Prime wallet yesterday. Notably, Arkham Intelligence believes the transaction involved Bitcoin seized from convicted drug trafficker Banmeet Singh earlier in 2024 while onchain sleuth ZachXBT believes the funds were part of the reclaimed Bitcoin from the “Silk Road hack.”
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2️⃣ Crypto Firm Abra Settles With State Regulators Over Not Licensing Its Mobile App ▶️
Cryptocurrency platform Abra and its CEO have reportedly agreed to settle with 25 state financial regulators who say the firm operated without being properly licensed. As part of the settlement, Abra will return up to $82.1 million to U.S.-based customers in the 25 states. Abra has also agreed to stop accepting crypto allocations from U.S. customers and to cease cryptocurrency trading activities with U.S. customers. The settlement comes in addition to Abra's settlements with certain state securities regulators for selling unregistered securities.
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3️⃣ Blast Token Rallies 40% After $2B Airdrop Debut 🔼
The price of BLAST, the long-awaited native token of Ethereum layer-2 network Blast, surged 40% after distributing 17% of its token supply to those that farmed points by staking ETH earlier this year. Notably, BLAST debuted for $0.02 per token, placing it at a fully diluted value (FDV) of $2 billion at launch. It has since rallied a little over 40% to a value of $0.0281 at the time of publication.
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4️⃣ U.S. State Department Offers New $5M Reward for Missing ‘Cryptoqueen’ 💰
The U.S. State Department is reportedly offering a $5 million bounty for information leading to the arrest or conviction of OneCoin founder Ruja Ignatova, the self-styled “Cryptoqueen,” who vanished in Athens in 2017. Notably, this is higher than the previous reward of $250,000 the Federal Bureau of Investigation (FBI) offered. Ignatova was added to the FBI’s Ten Most Wanted list in 2022. While the Department of State and the U.S. Federal Bureau of Investigation did not give a reason for the reward increase, the bounty on Ignatova was $100,000 in 2018.
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5️⃣ Animoca Looks to Go Public in Hong Kong or Middle East in 2025 ‼️
According to a report by The Information, gaming and metaverse giant Animoca Brands is reportedly considering returning to the public market after delisting from the Australian Securities Exchange (ASX) in March 2020. The report states that Animoca is considering Hong Kong or the Middle East for a potential listing in 2025. The company has reportedly been holding meetings with investment banks but has not chosen a location or hired an adviser.
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6️⃣ Crypto Exchange Bybit Grabs Global Spotlight in Void Left by FTX 📈
According to a Bloomberg report, crypto exchange Bybit has taken over the second rank in terms of global trading volume after targeting former clients of the defunct FTX platform and users in Europe and Russia. Notably, data from Kaiko shows that Bybit’s share of trading volume has doubled to 16% since October, overtaking US leader Coinbase Global Inc. in March. Bybit is second only to Binance Holdings Ltd. for spot and derivatives transactions. Bybit Chief Executive Officer Ben Zhou stated in an interview that Europe is currently Bybit’s biggest market, contributing about 30%-35% of volumes. He also stated that about a fifth of the volume comes from the Commonwealth of Independent States, within which Russia is the largest source of business.
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