137999
Get the latest updates from Guy straight to your Telegram 📲 Includes: - Guy's trades 📈 - Portfolio updates ⚖️ - announcement of video's in the pipeline and coin's on our watchlist 👀 - guy.eth
🔔 MARKET MOVING NEWS! (01/08/24)
1️⃣ Bitcoin Barely Budges as Federal Reserve Keeps Interest Rates Steady 🕯
In line with predictions from most analysts, the U.S. Federal Reserve announced on Wednesday that it was keeping interest rates at their current level. Specifically, it held the benchmark federal funds rate between 5.25% and 5.50%. Investors are now expecting the central bank to cut rates in September. While the price of BTC held steady immediately after the announcement, it dipped downward over the next few hours as the New York Times reported increasing risks of a broader conflict in the Middle East.
Explaining its decision, the Central Bank stated,
Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderated, and the unemployment rate has increased but remains low. Inflation has eased over the past year but remains somewhat elevated. In recent months, there has been some further progress toward the Committee's 2 percent inflation objective […] the Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent.
We keep increasing in market cap and then we keep increasing in our exposure to US Treasury bills. I believe that is unprecedented for any private company — we are comparing ourselves to countries.
🚨 New Video Alert!! 🚨
CBDCs are one of the most dystopian technologies out there. The scariest part is that basically every central bank is working on one. When it comes to retail CBDCs, the ECB is leading the pack.
The digital Euro officially entered its preparation phase late last year, and the ECB recently gave an update about how it’s going. As you can imagine, there’s been quite a bit of pushback.
What’s less obvious however is the ECB’s own motivations, and the risks it’s willing to bring to the financial system to maintain its control over money. This is a video you cannot miss!
🔔 MARKET MOVING NEWS! (31/07/24)
1️⃣ Russia Legalises Crypto Mining and Brings an Experimental Regime ‼️
According to local media reports, the State Duma - Russia's lower house of the Federal Assembly, passed two crypto-related laws on Tuesday. The first is a bill that fully legalises cryptocurrency mining in Russia from Nov. 1, 2024. The legislation allows entities and individual entrepreneurs registered with the Ministry of Digital Development to engage in mining, while those not registered can operate mining rigs if they do not exceed energy consumption limits. This law also brings into effect a ban on advertising cryptocurrencies and offering them to an unlimited number of people.
The second is a bill that will allow authorised companies to conduct cross-border settlements and exchange trading in digital currency. This appears to be part of Russia’s efforts to skirt Western sanctions imposed after Russia invaded Ukraine. The law is expected to go into force in September and the first cryptocurrency transactions are expected to take place before the end of the year.
Source
2️⃣ Mt. Gox Moves Over $2 Billion Worth Of Bitcoin To Fresh Address: Arkham Data 💸
According to on-chain data shared by Arkham Intelligence, the defunct crypto exchange Mt. Gox has transferred 33,105 BTC ($2.19 billion) to a new address starting with “bc1q26.” It is unclear who owns the new address that received the $2 billion worth of BTC. The latest transaction comes after Mt. Gox already moved billions of dollars worth of BTC over the past few weeks to designated crypto exchanges as part of its $9 billion payout. This includes Bitbank, Kraken, Bitstamp and SBI VC Trade.
Source
3️⃣ Movement Labs Joins Polygon's AggLayer; Testnet Launch Attracts $160 Million In Committed TVL ☄️
San Francisco-based blockchain development firm Movement Labs has announced an integration with AggLayer – a Polygon product which facilitates interoperability across the Polygon 2.0 network of Ethereum Layer 2 chains. Notably, Movement Labs is the first Move-based ecosystem to use the AggLayer, bridging the gap between the Move and EVM ecosystems and allowing Ethereum developers to deploy Solidity contracts on Move-based chains without code modification. The move coincides with Movement Labs’ launch of its public testnet, Parthenon. The public testnet has already attracted $160 million in committed total value locked (TVL) ahead of its mainnet deployment later this year.
Source
4️⃣ BitClout Founder Charged With Fraud by SEC and Justice Department ▶️
The United States Securities and Exchange Commission (SEC) has reportedly hit Nader Al-Naji, the founder of the decentralised social network BitClout, with fraud charges. The agency alleges that he lied to investors and used their funds in part to pay rent on a mansion in Beverly Hills. In a separate indictment, the U.S. Department of Justice simultaneously hit Nader Al-Naji, with one count of wire fraud, alleging that he defrauded investors of $3 million.
Specifically, the SEC notes that Al-Naji is a former Google engineer who raised over $257 million in unregistered securities and sales of the crypto token BTCLT in 2020. It alleges that Al-Naji blew $7 million on a Beverly Hills mansion and other personal expenditures despite telling investors that the money would not be used by him.
Source
5️⃣ Circle Said to Be Trading Around $5B Valuation Ahead of Planned IPO: Sources 🔍
According to a CoinDesk report, stablecoin issuer Circle Internet Financial is trading in the secondary market at a valuation of $5 billion to $5.25 billion ahead of its planned initial public offering (IPO). The sellers in the secondary market are said to be early-stage investors divesting for liquidity reasons or Circle employees. Circle is reportedly allowing secondary market trades on a case-by-case basis and only in specific situations. The company is not allowing trades below a $5 billion valuation.
Source
6️⃣ Blackbird Labs Launches Web3 Platform For Restaurant Payments 💰
According to data shared by SosoValue, the nine U.S. spot Ethereum ETFs experienced net outflows of $98.29 million on Monday, extending their negative flow streak to the fourth day. The Grayscale Ethereum Trust (ETHE) was the only one recording outflows among the ETFs. It saw $210.04 million in net outflows on Monday and has experienced similar outflows every day since its debut last Tuesday. According to Farside Investors, the spot ETH ETFs have endured a total of $340 million in net outflows with more than $1.5 billion exiting from the Grayscale Trust in their first week.
Source
6️⃣ Artists Sue SEC Over Confusing Security Status Of NFTs 🔍
Law professor Brian Frye and “Song a Day Mann” songwriter Jonathan Mann have reportedly filed a lawsuit against the U.S. Securities and Exchange Commission, seeking a court's answer on whether non-fungible tokens (NFTs) fall under the agency's jurisdiction. Lawyers for Frye and Mann accused the SEC of waging a "campaign to assert jurisdiction over sales of digital art," citing two recent cases of the agency honing in on NFTs. The lawsuit also demands answers to whether artists need to “register” their NFT art before selling it to the public and whether they must make public disclosures about the “risks” of buying their art.
It points out the absurdity of a potential security classification for NFTs by giving an example referencing Taylor Swift concert tickets. Specifically, they highlight that Swift sells concert tickets which are sold on the secondary market and that she makes statements to promote these events. They claim it would be “utterly nonsensical” for the SEC to treat Swift tickets or collectables as securities.
Source
🔥 Rally Report 🔥
BITCOIN SV
The price of BSV has rallied by 6% in the past 24 hours.
WHY?!
📈 The rally appears to be led by speculative trading activity on South Korean crypto exchanges. Notably, Bitcoin forks and related altcoins have been seeing a minor rally following promises of BTC being made a “strategic reserve asset” for the United States.
🕯 South Korean crypto exchange Upbit accounts for 42% of BSV’s global trade volume today. The exchange saw $48 million worth of BSV traded in the past 24 hours.
If you want to buy or trade BSV, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 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!! 🚨
It’s been a busy week in the crypto market, and we’re here to break it all down for you. The biggest news was Donald Trump’s historic speech at the Bitcoin conference which wasn’t all it was cut out to be.
Coming closely behind was the return of BTC to Mt. Gox creditors which likewise appears to have been a non-event. By contrast, the spot Ethereum ETFs seem to be setting a bullish stage for ETH.
All the while, the stock market is starting to weaken, but it depends on where you look. Large caps may be falling but small caps are gaining, foreshadowing some outperformance among altcoins as well.
Be sure to watch until the end to find out where last week’s top performing cryptos are headed next!
🔔 MARKET MOVING NEWS! (28/07/24)
1️⃣ ‘Never Sell Your Bitcoin’: Trump Vows to Establish 'Strategic BTC Stockpile’ 🔍
At the Bitcoin 2024 conference in Nashville on Saturday, former U.S. President Donald Trump promised to build a “strategic Bitcoin stockpile” for the United States. He also promised to fire SEC Chair Gary Gensler and reiterated promises he had made in the past to commute Silk Road founder Ross Ulbricht's sentence and stop the U.S. government from further developing a Central Bank Digital Currency (CBDC).
He stated,
As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future […] This will serve in effect as the core of the strategic national bitcoin stockpile...It's been taken away from you.
Bitcoin is a great store of value. Over the last four years or so it has increased about 55% per year. During the same period, the U.S. dollar has declined in value and we’ve seen increasing inflation. So it would be of value, in my opinion, to have a hard asset that backs the U.S. dollar and that grows in value instead of declines in value.
My view is Bitcoin, like gold, should be free to trade everywhere in the world and as the largest wholesaler in the world we are going to do everything in our power to make it so. Bitcoin should trade the same as gold everywhere in the world without exception and without limitation.
🚨 New Video Alert!! 🚨
Donald Trump is scoring goal after goal with crypto-minded voters in the United States. His days of bashing bitcoin are history, and it seems like every day now he’s throwing us another rhetorical bone.
This begs the question: what exactly would another four years of President Trump mean for the crypto markets? Could he make our wildest dreams come true? Or would the serenade stop once he’s in office?
Join us as we investigate Donald Trump’s record on crypto, and what crypto policy could look like under a second Trump administration.
🔥 Rally Report 🔥
JUPITER
The price of JUP has rallied by 13% in the past 24 hours.
WHY?!
📈 The rally comes after the project’s co-founder tweeted that the upcoming week is important for the project. The project is expected to see major development activity, voting, and discussions over the week, including a vote to reduce the supply of the JUP token on Wednesday.
☄️ The project also unveiled a new user interface for its trading platform yesterday. The interface allows users to swap, set up DCA/VA or Limit Orders, while interacting with a price chart or viewing their trade history.
If you want to buy or trade JUP, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🔥 Rally Report 🔥
AAVE
The price of AAVE has rallied by 15% in the past 24 hours.
WHY?!
🕯 The rally comes after March Zeller (founder of Aave Chan Initiative) posted a ‘temperature check’ governance proposal for the potential introduction of a fee switch and token buy-back program.
⚡️ The proposal comes as Aave explores new safety modules that are more cost-efficient.
If you want to buy or trade AAVE, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 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!! 🚨
How are we into the second half of 2024 already? Time sure does fly when you’re having fun. To say that the last 6 months have been eventful would be an understatement. We’ve seen ETF approvals, an All-time high for BTC, memecoins of various animals wif hats going parabolic, and much more besides.
In fact, it’s been that wild that sometimes, it’s been hard to keep up. No matter though, because the folks over at CoinMarketCap have us covered. They’ve thrown together a report for the first half of this year, offering their unique insights as being one of the leading crypto tracking platforms out there.
That’s why today, we’ll be breaking down this report, giving you all the best bits, and tell you what this could all mean for the market.
🔔 MARKET MOVING NEWS! (25/07/24)
1️⃣ Mt. Gox Creditors To Start Receiving Bitcoin And Bitcoin Cash From Bitstamp On July 25 🔍
Crypto exchange Bitstamp has reportedly started the process of returning digital assets to Mt. Gox creditors. Notably, the exchange had received a large transfer of bitcoin, bitcoin cash, and Ethereum from the Mt.Gox trustees a day earlier. Approximately 20,000 former users of Mt. Gox are set to receive over $9 billion worth of bitcoin, bitcoin cash, and Ethereum as part of the restitution process. Bitstamp also alerted some creditors that the transfers could take up to "one week." It added that customers in the UK "will not be included in the first tranche of distributions," but should expect to receive their funds "within the next few months."
Source
2️⃣ Stablecoins Signal Crypto Ecosystem Buoyancy as Market Cap Jumps to $164B 🔼
Stablecoins are reportedly experiencing a surge in growth after months of stagnation. According to data from DeFiLlama, the aggregate market capitalisation of the stablecoin sector has jumped to over $164 billion for the first time since the collapse of Terra in May 2022. Until now, it had been staying stagnant around the $160 billion mark. Notably, many interpret this renewed capital influx into the crypto market as a sign of “growing investor optimism, underpinning a bullish outlook."
Wintermute said in a note shared with CoinDesk,
The increase in stablecoin supply indicates that money is being deposited into on-chain ecosystems to generate economic activity, either through direct on-chain purchases that can catalyse price appreciation or yield-generation strategies that could improve [market] liquidity. This activity ultimately fosters positive on-chain growth.
From 24 July 2024, HSBC will block payments from bank accounts and credit cards that we reasonably believe are being made to cryptocurrency exchanges, for your protection […] If you wish to make payments to cryptocurrency exchanges, you’ll need to make alternative arrangements.
🚨 New Video Alert!! 🚨
Do politicians need us?
Because at the moment, they’re sending very mixed messages. Donald Trump is desperate to prove his crypto credentials, while the Democratic party is split between the Gensler-Warren-Biden crypto opp axis and powerful rebels like Nancy Pelosi and Chuck Schumer. The result is an open goal left for Republicans, and they are shooting their shot.
But just how big is this goal anyway?
Do presidential candidates need to appeal to crypto-minded voters now?
Or is the ‘The Crypto Vote’ still a hopium-fuelled myth?
Tune in to today’s video to find out, as we investigate voter attitudes and the influence of Big Crypto in the 2024 US presidential election.
Blackbird Labs, a hospitality-tech startup founded by Resy and Eater co-founder Ben Leventhal, has reportedly launched a Web3 payments platform for restaurants called Blackbird Pay. The new payment platform allows consumers to pay for their meals using the $FLY cryptocurrency. The tokens can be earned as loyalty points for dining at participating restaurants or purchased in the Blackbird app using the USDC stablecoin. For restaurants, it is designed to cut settlement times and reduce transaction costs to an average of approximately 2% per transaction. This is lower than typical credit card fees, which can be as high as 3.75%.
Source
🔥 Rally Report 🔥
XRP
The price of XRP has rallied by 7% in the past 24 hours.
WHY?!
📈 The rally is driven by speculation that the legal dispute between the SEC and Ripple Labs could potentially be coming to a close. Notably, the speculation is a result of a recent filing which hinted that the SEC intends to amend its complaint against crypto exchange Binance, including with respect to "Third Party Crypto Asset Securities."
⚡️ Ripple also announced that it had partnered with Fenasbac, the National Federation of Associations of Central Bank Servers, to advance fintech innovation in Brazil through the Next accelerator program.
If you want to buy or trade XRP, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 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!! 🚨
Which cryptocurrency will be the first to actually onboard 1 billion users? The answer seems to be Toncoin. That’s why we decided to do a deep dive into this crypto project.
Members of the Coin Bureau Club will know that this won’t be the first time we’ve covered Toncoin. We first covered the crypto project back in December for our members and predicted the TON pump.
It’s safe to say that TON has exceeded expectations in this regard. This begs the question of how much higher TON could go. Be sure to stick around until the end to find out!
🔔 MARKET MOVING NEWS! (30/07/24)
1️⃣ US Government Moves $2 Billion in Silk Road Bitcoin 💸
According to on-chain data shared by Arkham Intelligence, a wallet belonging to the U.S. government transferred $2 billion worth of BTC to an unidentified wallet on Monday. The BTC that was moved appears to be connected to the assets seized from the dark web marketplace Silk Road.
Coincidentally, the move comes just two days after former U.S. President Donald Trump stated that he plans to create a national "strategic Bitcoin stockpile" if elected. Crypto market traders appear to have reacted negatively to the news of the move as the price of BTC dropped by more than 2% the hour after the news first broke out. However, a few speculate the move may not connected to an intention to sell. Rather, they believe the transfer is linked to a July 1 agreement between crypto exchange Coinbase and the US Marshals Service, which signed a deal to “safeguard” US government crypto assets.
Source
2️⃣ COMP Token Rises as Whale Backs Down on Supposed 'Governance Attack' on Compound 😮💨
A whale named Humpy and a group of COMP holders known as the Golden Boys have reportedly agreed to rescind their controversial governance proposal that many criticised as a “governance attack” on lending and borrowing protocol Compound Finance.
The truce follows intense discussions between Compound Protocol’s Bryan Colligan and the Golden Boys. Both parties have instead agreed to develop a new staking product that aligns with the interests of all parties involved. The proposed staking product claims to enhance the utility of COMP tokens by distributing 30% of the fresh token reserves generated annually to staked COMP holders. This distribution will be proportional to the amount of COMP staked by each holder.
Source
3️⃣ WazirX Surveys Users on Recovery Options After $230M Hack, Leaves Customers and Industry Players Fuming 🥶
Indian crypto exchange WazirX’s recent poll to understand customers’ preference for recovery options has reportedly caused controversy. The exchange launched a poll titled "Withdrawal Management Programme: Opinion Poll" on July 27th. The poll described the programme as a "socialised loss strategy to distribute the impact equitably among all users."
It asked customers to vote on two different options – access 55% of their funds without withdrawals and get first priority for when potential recovery proceeds come or access 55% of their funds with withdrawals with second priority to potential recovery proceeds. Many criticised the approach as penalising the users of the platform for the breach. One observer described it as "socialised loss, privatised profits." CoinDCX co-founder Sumit Gupta noted that the first contribution to losses should come from the company. He claimed the poll options were framed in a manner “to protect the business first and not the customers.”
Source
4️⃣ Chainlink Integration Adds Transparency To 21Shares Ether ETF ⚡️
21Shares US LLC, an affiliate of 21Shares AG, has reportedly integrated Chainlink’s proof-of-reserve (PoR) system to create more transparency for its Core Ethereum exchange-traded fund (ETF). The 21Shares Core Ethereum ETF (CETH) is physically backed by Ether and tracks ETH’s performance. The integration will enhance the transparency of the Ethereum reserves backing CETH. The PoR system will offer real-time reserve data and a reserve history, available as a publicly verifiable feed that pulls data directly from the Coinbase exchange.
Source
5️⃣ US Spot Ethereum ETFs See $98.3 Million In Net Outflows On Monday 🔽
🔔 MARKET MOVING NEWS! (29/07/24)
1️⃣ Hong Kong Lawmaker Advocates For Including Bitcoin In Financial Reserves Following Trump’s Speech 💸
Johnny Ng, a member of Hong Kong’s Legislative Council, has reportedly made an X post calling on the territory to “research and consider” including Bitcoin in strategic financial reserves. Notably, Ng referenced a similar call made by former U.S. President Donald Trump in his speech to the Bitcoin Conference over the weekend.
Ng’s X post reads,
The global acceptance of Bitcoin is constantly increasing, and Bitcoin is seen by the public as "digital gold" in the context of its technology, so in the future, it is indeed possible to research and consider including Bitcoin in strategic financial reserves, as long as it is compliant. Hong Kong must accelerate the development of the Web3 ecosystem […] I will discuss the feasibility and opportunities of including Bitcoin in financial reserves with different stakeholders in Hong Kong, and will report the situation to everyone in a timely manner.
These initial transactions and experiments with wholesale tokenised central bank money represent an important stepping stone to greater transparency and efficiency of financial markets with wider technology adoption. While hardly material in financial markets at the moment in terms of value issued and/or traded, we expect the importance of the distributed ledger technology to grow significantly in the following years.
🚨 New Video Alert!! 🚨
As you’ll have no doubt seen, the German government has just finished dumping all of its BTC. It’s fair to say this selling was suppressing the markets, evidenced by the fact that as soon as selling was finalised, BTC’s price rallied as the market sighed a collective breath of relief.
The thing is, Germany isn’t the only country in the world that has a stack of BTC sitting on the sidelines. As it happens, many governments around the world are also Bitcoin whales. This raised the question of what they’ll do with it, and how that could affect the crypto market.
That’s why today, we’ll be looking at just how much BTC - and other crypto - some of these governments hold, how they got ahold of it, what they plan to do with it in the future, and how the impact this could have on the price of BTC.
https://youtu.be/t5MAjbLlrZA?si=kkv7xJDuJtb9VKtO
Читать полностью…
🔔 MARKET MOVING NEWS! (27/07/24)
1️⃣ Ledger Reveals New E Ink Touchscreen Flex Wallet ‼️
Hardware wallet manufacturer Ledger has announced the launch of its new touchscreen wallet – the Ledger Flex wallet. The new wallet builds on the design language and E Ink touchscreen interface established with its previous Stax model. Ledger CEO Pascal Gauthier said Flex and Stax “mark the new standard for Ledger devices.” Ledger has also unveiled its new Security Key app, which offers passkey capabilities as an alternative to conventional passwords.
Source
2️⃣ Michigan Pension Fund Discloses $6.6M Investment In Bitcoin ETFs 💰
According to a recent 13F filing with the U.S. Securities and Exchange Commission, the State of Michigan Retirement System owns 110,000 shares worth of ARK 21Shares Bitcoin ETF as of June 30. The value of the shares at the time of filing was $6,597,800 — a small percentage of the fund’s billions of dollars in assets. This makes Michigan the third US state to explore allocating a part of its pension fund to crypto through exchange-traded funds since Bitcoin ETFs were approved in January.
Source
3️⃣ SEC Approves Grayscale Bitcoin Mini Trust, Awaiting Registration Statement Greenlight 💸
The U.S. Securities and Exchange Commission (SEC) reportedly approved the 19b-4 form for the Grayscale Bitcoin Mini Trust on Friday. The trust, under the ticker symbol "BTC," is intended to be a “spin-off” of the Grayscale Bitcoin Mini Trust (GBTC), with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust. Grayscale is now waiting for the registration statement to become effective for the Grayscale Bitcoin Mini Trust. This will allow BTC to operate as US spot Bitcoin ETP alongside GBTC and others.
Source
4️⃣ WazirX Launches Fair Fund Recovery Plan Post $230M Hack ▶️
Indian crypto exchange WazirX has announced a fair and transparent socialised loss strategy for the recovery of users’ funds lost in a recent $230 million cyberattack. The loss strategy will see WazirX opting for a 55/45 approach. This approach allows users immediate access to 55% of their assets while locking the remaining 45% in Tether-equivalent tokens. By socializing the loss, WazirX aims to distribute the impact evenly across all users, preventing any single group from bearing a disproportionate burden. This approach is expected to facilitate a faster and more flexible resolution than traditional methods.
Source
5️⃣ U.S. Presidential Candidate Robert F. Kennedy Jr. Promises To Issue Bitcoin-Related Executive Orders If Elected 🔍
U.S. presidential candidate Robert F. Kennedy Jr. has promised to issue three executive orders related to Bitcoin if elected. The first order involves a plan to transfer 200,000 BTC held by the U.S. government to the Department of Treasury as a "strategic asset." The second order will reportedly involve directing the U.S. Treasury to buy 550 BTC daily until the U.S. has a reserve of 4 million BTC. The final order will deem transactions between BTC and the U.S. dollar as unreportable and non-taxable.
Source
6️⃣ Former FTX Exec Ryan Salame Asks To Push Back Prison Date Following Dog Attack 🐶
Former FTX executive Ryan Salame has reportedly asked a New York court to push back his prison time to get urgent surgery after being "mauled" by a dog while visiting a friend's home. Notably, Salame was sentenced to seven and a half years in prison after pleading guilty to criminal charges last year. Salame was scheduled to appear for his sentencing on Aug. 29th 2024, but his lawyers are asking for that date to be pushed to Oct. 13.
Source
🔔 MARKET MOVING NEWS! (26/07/24)
1️⃣ Elon Musk’s X Quietly Removes Bitcoin, MAGA Emojis From Hashtags 🤔
Social media platform X (previously Twitter) has reportedly removed the automatically generated emojis accompanying cryptocurrency hashtags. Notably, they had been in use for over four years. X's social media accounts and press pages have not publicly announced the removal, leaving many puzzled and sad.
Source
2️⃣ US Senator Withdraws Support For Elizabeth Warren’s Anti-Crypto Bill 🔍
Republican Senator Roger Marshall has reportedly withdrawn as a cosponsor for the Digital Asset Anti-Money Laundering Act of 2023 - an anti-crypto bill he co-created with Senator Elizabeth Warren in 2022. After Marshall’s withdrawal, 18 senators remain supporting the bill. At the time of writing, it remains unclear why the senator had withdrawn as a co-sponsor of the bill. That said, the seeks to declare a wide range of crypto service providers as ‘financial institutions’, including decentralised wallet providers, validators and miners. It mandates that they be subject to the terms of the Bank Secrecy Act.
Source
3️⃣ Interpol Issues Red Notice for Hong Kong Crypto Promoter 'Coin Young Master' ▶️
According to a South China Morning Post report, the International Criminal Police Organization (Interpol) has issued red notices for two Hong Kong crypto promoters - Wong Ching-kit (aka "Coin Young Master") and his associate Mok Tsun-ting. The red notices were issued at the request of Hong Kong's police force. Both crypto influencers once promoted the beleaguered Dubai-based crypto exchange JPEX, and are currently wanted for theft, fraud, and money laundering.
Source
4️⃣ TON Blockchain Gasless Transactions Go Live Following Launch Of New Smart Wallet Standard 💎
Gasless transactions are reportedly live on the TON blockchain with the launch of the W5 smart wallet standard. The W5 smart wallet was originally developed by Tonkeeper and subsequently approved as a standard by the TON Core team. It allows users to make transactions using USDT as payment for transaction fees while sending USDT and Notcoin as payment for gas fees when sending Notcoin. As a result, users are no longer required to hold Toncoin to facilitate payments on TON. The new standard also enables advanced parallel processing, allowing users to make up to 255 transactions simultaneously.
Source
5️⃣ New Jersey Mayor Plans To Invest In Bitcoin ETFs For City’s Pension Fund 💰
Steven Fulop, the mayor of Jersey City since 2013, has revealed that the municipal pension plan of Jersey City, New Jersey, will soon invest in BTC via exchange-traded funds (ETFs). While the mayor did not explicitly state what percentage of the fund would be in crypto, he said it would be similar to the 2% allocated by the Wisconsin Pension Fund. According to Fulop’s tweet, the investment is expected to be completed “by the end of summer.”
Source
6️⃣ VanEck Sees Bitcoin Hitting $2.9M By 2050 💸
In a report published Wednesday, asset manager VanEck stated that it foresees BTC potentially hitting $61 trillion in total market capitalisation ($2.9 million per BTC) in 2050 as a result of massive demand for the decentralised currency as collateral for trade settlement and a reserve for central banks.
Matthew Sigel, head of digital asset research at Van Eck stated,
As we look at the world right now, we see enormous economic imbalances, rising distrust in existing institutions and continued deglobalisation [...] We think many of these distortions stem from ... a massive misallocation of capital since the global financial crisis as G7 governments have abused the printing press, spending borrowed money on impossible goals. Bitcoin ... is the ultimate hedge against this rising fiscal recklessness.
According to data from SosoValue, the nine U.S. spot Ethereum exchange-traded funds saw $133.16 million in net outflows on Wednesday. Specifically, the outflows were led by the Grayscale Ethereum Trust (ETHE) which saw $326.86 million in net outflows. This dwarfed inflows from Fidelity’s FETH ($74.46 million inflows), Grayscale Ethereum Mini Trust ($45.93 million inflows), Bitwise’s ETHW ($29.64 million inflows) and VanEck’s ETHV ($19.84 million in inflows). The spot ether ETFs also generated about $951 million in trading volume on Wednesday, slightly lower than the $1.05 billion in trading volume on Tuesday.
Source
🔔 MARKET MOVING NEWS! (24/07/24)
1️⃣ Ethereum ETFs Hit $107 Million Inflows on Debut: 'Very Solid First Day' 🕯
According to data from Bloomberg, U.S. spot Ethereum ETFs received exactly $106.7 million in net inflows and a total trading volume exceeding $1 billion on their first trading day. This is despite substantial outflows from Grayscale’s Ethereum Trust (ETHE) which topped out at $484 million in outflows. ETHE is also the only fund with outflows. Blackrock's ETHA led with $266.55 million in net inflows, followed by Bitwise ETHW's $204 million, Fidelity FETH's $71.31 million, and Grayscale's Ethereum Mini Trust with $15.15 million. SosoValue data shows that the nine Ethereum ETFs have already accumulated over $10 billion in assets under management.
Source
2️⃣ Crypto Custodian Hex Trust Receives In-Principle MPI License Approval In Singapore ⚡️
Crypto custodian Hex Trust has reportedly received in-principle approval for a Major Payment Institution (MPI) license in Singapore. Notably, the MPI license allows Hex Trust to offer crypto custody and over-the-counter trading services in the country. Hex Trust previously obtained a full Virtual Asset Service Provider license in Dubai in November 2023 and has set up an office in Singapore to serve institutional and corporate clients in the region.
Source
3️⃣ dYdX V3 Website Recovers After DNS Attack, Users Warned To Delete Cache ‼️
The team behind the DeFi giant dYdX have successfully restored version 3.0 of its website after an apparent domain name system (DNS) hijacking attempt on July 23. The recovery comes less than 3 hours after the team announced its compromise. dYdX has warned users to delete the cache and restart their browser before revisiting the website. Coincidentally, the DNS attack occurred just a few hours after Bloomberg reported dYdX v3 was up for sale, with interested buyers including major market maker Wintermute.
Source
4️⃣ Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages 🔍
Crypto exchange Coinbase has reportedly filed a new motion to compel the U.S. Securities and Exchange Commission to produce Chair Gary Gensler’s private emails amid its ongoing legal battle with the regulator. Notably, the new motion only seeks access to Gensler’s private communications during his time at the SEC as Chair from 2021, among other documents. This is a much narrower scope compared to its earlier request for Gensler’s private communications before and during his time as SEC Chair. The new motion comes after pushback from Judge Katherine Polk Failla last week.
Coinbase Chief Legal Officer Paul Grewal stated,
What we're asking for here, ultimately, is transparency into how the SEC has gone about its business. We think government transparency, by and large, is a good thing. When you're sued by that government in a case they chose to bring, we think it's even more important that we have full line of sight into documents that could bear on our case.