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🚨 Livestream Alert!! 🚨
It’s time for another weekly crypto review!
Today we cover:
- Jobs Good, War Bad
- China Feeling FOMO?
- EIGEN is Live
- The Good, The Bad and The XRP
- Satoshi Unmasked?
- Top Gainers in Crypto
Join us LIVE!
🔔 MARKET MOVING NEWS! (07/10/24)
1️⃣ Russian 'Evil Corp' Group Hit With Sanctions After $100 Million in Ransomware Thefts ▶️
Evil Corp, a Russia-based cybercrime syndicate allegedly responsible for widespread financial theft and ransomware attacks, has reportedly been hit with sanctions from law enforcement agencies in the U.S., U.K. and Australia. Specifically, the agencies jointly imposed sanctions on key members of the group. The U.S. Department of Justice also simultaneously unsealed an indictment charging an Evil Corp member with deploying BitPaymer ransomware against victims in the United States. Evil Corp is also known for developing and distributing the Dridex malware, which has led to over $100 million stolen from hundreds of banks and financial institutions across more than 40 countries.
Source
2️⃣ Solana Dev Quits Project He Set Himself on Fire to Pump ❌
Mikol, the creator of the Truth or Dare (DARE) memecoin, has reportedly decided to quit the project. For context, Mikol performed live-streamed stunts to help pump his DARE token. He made headlines after setting himself on fire as a dare and was hospitalised with third-degree burns. Mikol told Decrypt last week that the only regret he has is not cashing out when he had the opportunity. He also stated that only two team members have remained in contact with him since the fiery incident. He claimed the rest “took their money and left,” including the unidentified “close friend” who came up with the idea to set him ablaze.
Source
3️⃣ U.S. Moves To Seize $2.7 Million From Lazarus Hacks Traced Through Tornado Cash, Other Mixers ❓
The U.S. Justice Department has reportedly filed two forfeiture actions to begin seizing more than $2.67 million worth of cryptocurrency stolen by the North Korean Lazarus hacking group. Specifically, the US government seeks to recover approximately $1.7 million in USDT stolen by the organisation in the 2022 Deribit hack and roughly $970,000 in Avalanche-bridged-Bitcoin (BTC.b) stolen by the organisation in the 2023 hack of the Stake.com gambling platform.
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4️⃣ New Ethereum Proposal Aims to Increase Throughput By 50% ⚡️
Ben Adams, the co-founder of Illyriad Games, has reportedly introduced a new Ethereum Improvement Proposal (EIP) that would slash block times on Ethereum and increase data capacity to boost overall throughput by 50%. Specifically, the proposal, titled EIP-7781, aims to slash block times on Ethereum from 12 seconds to 8 seconds – this is a 33% decrease. Pseudonymous developer Cygaar described EIP-7781 as the “first huge” step toward improving the base layer of the Ethereum network. Ethereum Foundation researcher Justin Drake also approved of the EIP on GitHub. He stated that its immediate proposal aligned with some of the broader goals proposed by Ethereum co-founder Vitalik Buterin.
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5️⃣ Tether Teases USDT Documentary On 10th Anniversary 🎙
On its 10th anniversary, stablecoin issuer Tether announced that it will release a documentary on USDT and its impact on fighting inflation. In its trailer, Tether presented interviews with users from Turkey, Brazil and Argentina who have benefited from the stablecoin as they attempt to combat inflation in their respective countries. One interviewee claimed that in Brazil, “Tether with USDT is like 90% of the transactions that Brazil makes during the day.”
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6️⃣ UAE Exempts Crypto Transfers, Conversion from Value-Added Tax ‼️
The United Arab Emirates Federal Tax Authority (FTA) has reportedly published amendments to the country’s value-added tax (VAT) rules that impact the tax treatment of digital assets such as crypto. Specifically, the amendments to the VAT regulations in the UAE will exempt VAT applications for the transfers and conversions of digital assets. The business consultancy company PwC noted that the exemptions in the transfer and conversion of virtual assets will be applied retrospectively from Jan. 1, 2018.
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7️⃣ Japan's Metaplanet Buys Another $6.7M Worth of Bitcoin 💸
🔔 MARKET MOVING NEWS! (06/10/24)
1️⃣ Telegram To Enable NFT Conversion For New Gifts Feature ⚡️
Yesterday, Telegram CEO Pavel Durov announced the launch of a new in-app feature that will include web3 functionality in the future. The feature, called Gifts, allows users to send and display animated images on their Telegram profile. Alternatively, users can convert these animated images into the social platform’s in-app currency ‘Stars’. As for the web3 functionality, Durov teased that limited-edition Gifts can be converted to TON-based NFTs in the future. Once converted, the limited-edition Gifts can be used outside of Telegram.
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2️⃣ LEGO Removes Crypto Scam From Homepage After Being Hacked ❓
Toy manufacturer LEGO Group has reportedly removed a "LEGO Coin" token scam that briefly appeared on its homepage after being hacked yesterday. According to screenshots on social media, the scam attempted to attract buyers by promising “secret rewards” to purchasers LEGO Coin. Anyone who clicked the “Buy Now” button was reportedly taken to a phishing site. LEGO reportedly told consumer tech product platform Engadget that no user accounts were compromised due to the scam’s ‘brief’ appearance.
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3️⃣ Vitalik Buterin Donates 100 ETH To Roman Storm Defence Fund 💰
Ethereum founder Vitalik Buterin has reportedly donated another 100 ETH to Tornado Cash developer Roman Storm's legal defence fund. Notably, this marks Vitalik’s third donation to the cause. According to the Defend Roman Storm crowdsourcing page, 148 different payments have been received for the developer's defence fund thus far. The total funds raised currently stand at 327 ETH (worth approx. $785,000)
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4️⃣ Coinbase Seeks Early Appeal In SEC Case After Agency Appeals Ripple Ruling 🔍
Crypto exchange Coinbase has reportedly asked the judge presiding over its battle with the SEC to reconsider an interlocutory appeal filed on behalf of the exchange in April 2024. The interlocutory appeal requested that the Second Circuit of Appeals be allowed to review a key question in the case: how the Howey Test, the traditional standard for what counts as a security based on a 1946 Supreme Court ruling, applies to digital assets. The latest filing to reconsider the interlocutory appeal comes after the SEC's recent appeal in its case against Ripple
Coinbase stated,
The SEC has conceded, and now reconfirms by its appeal in Ripple, that the issues presented by Howey’s application to secondary-market digital asset transactions are of 'industry-wide significance. Prompt and complete appellate review is urgently needed.
🚨 New Video Alert!! 🚨
China has finally snapped.
After years of slowing growth, the government decided to bazooka the economy with monetary stimulus. And now, it looks like they’re about to crank up the money printers to 11. Do you need us to tell you how bullish this is?!
Tune in to find out why this could be the biggest catalyst of this cycle!
🔥 Rally Report 🔥
POPCAT (SOL)
The price of POPCAT has rallied by 25% in the past 24 hours.
WHY?!
🕯 The rally is likely led by speculation surrounding the recent success of zoo memecoins. This has created a bullish breakout that has seen the market cap of the token hit new all-time highs at $1.2 billion.
🐈⬛ This makes Popcat the largest cat-themed memecoin across all chains.
If you want to buy or trade POPCAT, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
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Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🔔 MARKET MOVING NEWS! (04/10/24)
1️⃣ Grayscale Launches Aave Investment Fund 💰
Crypto asset manager Grayscale has announced the launch of the Grayscale Aave Trust. The new fund will provide “eligible individual and institutional accredited investors" with exposure to Aave's AAVE token. The new fund is part of Grayscale’s broader strategy to expand their range of crypto investment products.
Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary stated,
Grayscale Aave Trust gives investors exposure to a protocol with the potential to revolutionise traditional finance. By leveraging blockchain technology and smart contracts, Aave's decentralised platform aims to optimise lending and borrowing while removing intermediaries and reducing reliance on human judgment.
🚨 New Video Alert!! 🚨
The SEC has approved the trading of options on BlackRocks’s spot bitcoin ETF, and they’re being hailed as ‘rocket fuel’ for BTC’s price already.
But why is that? Can’t you already trade options on BTC? What’s all the excitement about, and how does options trading work anyway?
Today, we have all the answers.
Tune in to find out why this could be the next big thing for bitcoin.
🔥 Rally Report 🔥
APTOS
The price of APT has rallied by 7% in the past 24 hours.
WHY?!
☄️ The rally follows news that Aptos Labs signed an agreement to acquire HashPalette, a Japanese NFT service provider. As part of the deal, Palette Chain (HashPalette’s blockchain) and its existing applications will move over to the Aptos Network. This is part of Aptos’ strategy to grow in Asia.
🎙 This is the latest in a line of bullish announcements from the project. Just a day earlier, Franklin Templeton, in collaboration with the Aptos Foundation, announced the launch of its OnChain U.S. Government Money Fund (FOBXX) on the Aptos blockchain.
If you want to buy or trade APT, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
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Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🚨 New Video Alert!! 🚨
Stablecoins are an important indicator for which way the crypto market is headed. When stablecoin market cap grows, it suggests more money is moving into the market, but what if it doesn’t anymore?
The use of stablecoins for non-crypto purposes has been growing, thanks in large part to efforts by payments processors like Visa to integrate them into their infrastructure.
Today we summarise a recent stablecoin report that was sponsored by Visa. Its findings could have profound implications on which cryptos could rally the most during this cycle and beyond.
Enjoy!
🔥 Rally Report 🔥
WORMHOLE
The price of W has rallied by 20% in the past 24 hours.
WHY?!
📈 The rally is driven by speculative trading activity on the South Korean crypto exchange Upbit.
‼️ Notably, this comes after Upbit announced the listing of trading pairs for W against KRW, BTC, and USDT earlier today.
If you want to buy or trade W, 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!! 🚨
BNB is one of the largest cryptocurrencies, and for good reason. It’s the exchange chain for the world’s largest crypto exchange, Binance. As you may have heard, its co-founder and former CEO CZ is out.
For context, CZ just finished serving 4 months in prison as part of an unprecedented settlement with US authorities. The fact that he founded BNB therefore makes this a very bullish catalyst for the crypto.
The caveat is that BNB faces lots of challenges this time around, including a relationship with Binance that isn’t as close, lots of competition, and continued regulatory scrutiny. Can BNB still moon?
Stay tuned to find out!
🔥 Rally Report 🔥
EIGENLAYER
The price of EIGEN has rallied by 11% in the past 24 hours.
WHY?!
⚡️ Transfer restrictions on the EIGEN token were finally lifted earlier today. Investors are bullish since the transfer unlock allows developers to start building Actively Validated Services (AVSs) using EIGEN staking.
‼️ The token was listed on most major cryptocurrency exchanges, including Binance, Bybit, OKX, and Kraken. It’s also available on the Uniswap v3 DEX. The opening price of EIGEN fell in line with analyst expectations.
If you want to buy or trade EIGEN, we have an exclusive $60K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days!
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Looking for a Bybit guide?! 👇
📹 https://www.youtube.com/watch?v=YZV9mji7UQo
🚨 Livestream Alert!! 🚨
It’s time for another weekly crypto review!
Today we cover:
- China Starts Stimulus
- Coinbase Custody Controversy
- Kamala Crypto Champion?
- Celestia Going Interstellar
- TradFi Goes Ape
- Top Gainers in Crypto
Join us LIVE!
🔥 Rally Report 🔥
FTX TOKEN
The price of FTT has rallied by 34% in the past 24 hours.
WHY?!
🤔 The rally appears to follow rumours that the FTX bankruptcy estate will begin distributing reimbursement funds to creditors and customers on Sept. 30.
❌ However, this rumour has been debunked by a recent Cointelegraph report. The publication noted that the plan has not yet been approved by the U.S. judge presiding over the proceedings.
If you want to buy or trade FTT, 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
Metaplanet, a publicly listed Japanese investment adviser, has reportedly purchased an additional 108.786 BTC valued at 1 billion yen ($6.7 million). Notably, the latest purchase has brought the company’s total BTC holdings to 639.503 BTC, valued at $40.6 million. The latest purchase was made at an average price of 9.19 million yen ($61,880) per BTC, bringing its average purchase price for its BTC holdings to 9.32 million yen ($62,789).
Source
🔥 Rally Report 🔥
MOG COIN
The price of MOG has rallied by 18% in the past 24 hours.
WHY?!
🕯 Part of a larger rally seen among memecoins.
☄️ Notably, the rally comes as conversations surrounding a ‘memecoin supercycle’ trend on social media platforms.
If you want to buy or trade MOG, 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!! 🚨
Crypto market manipulation comes in many different forms, but the victim is always YOU.
If you don’t want to be prey for the manipulators, you need to know what they’re doing and how they do it.
That’s why today, we’re breaking down some of the most common manipulative practices in crypto, how to spot them, and what you can do to protect yourself.
This is a video you can’t afford to miss!
🔔 MARKET MOVING NEWS! (05/10/24)
1️⃣ ‘Uptober’ Builds Strength As Bitcoin Held On Exchanges Falls To 6-Year Low 🕯
Data from CryptoQuant shows that there are just a little over 2.8 million BTC held on centralised exchanges. Notably, this is 500,000 BTC less than the amount seen in March. It is also the lowest BTC exchange balance since November 2018. A low BTC balance on centralised exchanges typically results in decreased amounts of available liquidity, which often leads to bullish price movements. Analysts believe this strengthens the case for a fourth-quarter “Uptober” rally for Bitcoin.
Source
2️⃣ Coinbase to Delist Unauthorised Stablecoins in EU by December ❌
Crypto exchange Coinbase reportedly plans to de-list any unauthorised stablecoins in the European Union by December 2024. This move is part of the exchange’s compliance strategy with the EU's Markets in Crypto Assets rules (MiCA) which is set to be fully implemented in December. Specifically, MiCA requires stablecoin issuers to obtain e-money authorisation in at least one member state. Coinbase has also stated that it will provide more details about a transition plan in November. This plan is expected to help its European customers switch to compliant stablecoins, including USDC and EURC.
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3️⃣ Ubisoft Reveals Plans for 'Captain Laserhawk' Ethereum Game NFT Mint ☄️
Gaming giant Ubisoft is reportedly launching a 10,000-piece NFT collection on the Ethereum scaling network Arbitrum. The NFTs, which will sell on the Magic Eden NFT marketplace, will provide holders with early access to the studio’s upcoming top-down shooter Captain Laserhawk: The G.A.M.E. The competitive multiplayer game promises to include iconic characters from Assassin’s Creed, Rayman, and Beyond Good & Evil. The NFT will also reportedly allow holders to participate in the game's governance model, and track player progress. As the player’s score increases, the NFT evolves, unlocking new perks and increasing their governance influence.
Didier Genevois, Web3 Executive Producer at Ubisoft stated,
Through the integration of Web3, we’re empowering our community to not only play but also shape the future of the game. It’s about creating a collaborative ecosystem where players’ decisions and creations directly impact the game’s evolution, making the experience truly their own.
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There is a MASSIVE $10 million prize pool up for grabs for the winning team - not to mention up to 30k in signup bonuses on offer at Bybit.
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And of course, don't forget to subscribe to CB trading! CoinBureauTrading" rel="nofollow">https://www.youtube.com/@CoinBureauTrading
🔔 MARKET MOVING NEWS! (03/10/24)
1️⃣ SEC Files Appeal in Ripple Lawsuit ❓
The U.S. Securities and Exchange Commission (SEC) has reportedly filed a notice of appeal in the Ripple lawsuit. The SEC seeks to overturn an earlier ruling from Judge Analisa Torres, claiming that the judge’s decision in the Ripple matter “conflicts with decades of Supreme Court precedent and securities laws.” For context, this relates to Judge Torres’ ruling that secondary sales of Ripple's XRP did not constitute securities sales since XRP was not a security in and of itself.
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2️⃣ SEC Enforcement Director Gurbir S. Grewal Steps Down ‼️
Gurbir S. Grewal, the Enforcement Director of the U.S. Securities and Exchange Commission (SEC), is reportedly leaving the agency on Oct. 11th. His departure comes after a 21-year-long service record. Since the SEC has not chosen Grewal’s permanent replacement, the division’s deputy director Sanjay Wadhwa will step up as temporary acting director and Chief Counsel Sam Waldon will serve as acting deputy director. Grewal’s departure is seen as bullish by many in the crypto industry since his leadership saw the agency authorise more than 100 enforcement actions against crypto firms.
Addressing his departure, SEC Chair Gary Gensler stated,
Every day, he has thought about how to best protect investors and help ensure market participants comply with our time-tested securities laws. He has led a Division that has acted without fear or favour, following the facts and the law wherever they may lead. I greatly enjoyed working with him and wish him well.
🔔 MARKET MOVING NEWS! (02/10/24)
1️⃣ Diddy Hires Lawyer of Prison Bunkmate Sam Bankman-Fried ❓
Recent court filings show that the disgraced hip-hop superstar Sean “Diddy” Combs has hired the same lawyer as former FTX CEO Sam Bankman-Fried to defend him after being charged with racketeering and sex trafficking in New York. Notably, both Bankman-Fried and Combs share the same unit in a dormitory-style prison room at the Metropolitan Detention Center in New York.
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2️⃣ Bitwise Files for XRP ETF Following Bitcoin, Ethereum Approvals ☄️
According to a Decrypt report, crypto asset manager Bitwise has filed an application for an XRP fund with the state of Delaware. The application to launch the ETF based on XRP comes after the U.S. Securities and Exchange Commission (SEC) approved Bitcoin and Ethereum ETFs from various firms earlier this year. While Bitwise confirmed the filing was real, it stated that it doesn’t plan to comment on a “fund that is in the filing stage.”
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3️⃣ Proton Says Swan Bitcoin Lawsuit Is ‘Fatally Flawed,' Seeks Dismissal 🤔
Proton Management, the Bitcoin mining firm accused by Swan Bitcoin of stealing its mining business, has reportedly denied the allegations and filed a motion calling for the case’s dismissal. Specifically, Proton Management described the accusations made by Swan as “fatally flawed” because it “does not have a mining business” to begin with. Proton stated that the Bitcoin mining business, 2040 Energy, was a separate entity fully funded by stablecoin issuer Tether. Proton also refuted accusations that it used Swan’s proprietary information or trade secrets. Proton also argued for the denial of Swan’s ex parte applications on the grounds that the California court it filed them in lacks personal jurisdiction over Proton, which is incorporated in the British Virgin Islands.
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4️⃣ Bitcoin ETFs See Biggest Outflow In A Month As Middle East Tensions Surge 🕯
According to data from SoSoValue, spot Bitcoin exchange-traded funds (ETFs) in the United States recorded their largest daily net outflows since Sept. 3 on Tuesday, with an aggregate outflow of $242.6 million. This also marked the end of an eight-day streak of positive flows. The outflows follow rising tensions in the Middle East with Iran’s launch of a missile attack on Israel on Oct. 1.
As for specific contributions towards yesterday’s outflows, Fidelity’s FBTC recorded the largest net outflow with $144.67 million exiting the fund. Ark and 21Shares’ ARKB followed, with net outflows of $84.35 million. Bitwise’s BITB reported net outflows of $32.7 million and VanEck’s logged $15.75 million in net outflows. Grayscale’s GBTC recorded $5.9 million in net outflows. There were zero flows for Invesco, Franklin, Valkyrie, WisdomTree, and Grayscale’s Mini Bitcoin Trust. BlackRock iShares Bitcoin Trust was the only one to post positive flows, recording $40.8 million for the day.
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5️⃣ Australia's 'Operation Kraken' Seizes Over $6 Million In Crypto After Deciphering Seed Phrases From Organised Crime Wallets 🔍
Australian Federal Police have reportedly seized 9.3 million Australian dollars ($6.4 million) worth of crypto from the alleged mastermind behind Ghost - an encrypted messaging service used by organised crime groups to coordinate illegal activities. Notably, the authorities claim the crypto was seized by “deciphering the ‘seed phrase’ of the accused’s crypto wallet address. They claim this was done by conducting an “analysis of digital devices” recovered from the home of the accused. The operation was reportedly part of the AFP’s ongoing “Operation Kraken.”
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🔔 MARKET MOVING NEWS! (01/10/24)
1️⃣ Ripple Receives In-Principle License Approval In Dubai ⚡️
Payment infrastructure firm Ripple has reportedly received an in-principle license approval from the Dubai Financial Services Authority (DFSA). This allows the firm to establish a presence in the United Arab Emirates (UAE). Once the firm receives approval for a full license, it will be able to offer cross-border payment services for fiat and digital assets in the Dubai International Financial Center.
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2️⃣ Base Creator Jesse Pollak To Join Coinbase Exec Team And Lead Wallet Charge ‼️
Jesse Pollak, the creator of the Ethereum layer 2 blockchain Base, has announced he is officially “stepping up” to head Coinbase’s web3 Wallet division. Pollak will reportedly take this role while continuing to lead the Base team. Pollak was also added to Coinbase’s eight-member executive team. In a social media post announcing the move, Pollak stated that Base and Coinbase Wallet “share the same north star.” Specifically, to make it simpler for people to get on-chain and connect to web3 apps across the ecosystem.
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3️⃣ FTX's Reorganisation Plan Gains Support From Over 94% Of Dotcom Voting Creditors 🔥
In a filing made Monday, FTX’s restructuring administrator Kroll disclosed the voting results for its reorganisation plan. The filing shows that over 94% of FTX Dotcom clients voted in favour. The plan promises to return 118% of claims in cash to most creditors, who represent about $6.83 billion in claims by value. Specifically, two classes of creditors did not return ballots and were presumed to accept the plan. With creditor approval secured, the next step is for the bankruptcy court to approve the reorganisation plan. A hearing is set on Oct. 7 for the same.
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4️⃣ Metaplanet Buys Another 107 Bitcoin, Pushing Stock-BTC Ratio to 20% 💰
Japanese investment firm Metaplanet has reportedly purchased an additional 107 BTC (worth $6.9 million) at an average price of 9.26 million yen ($64,168) per BTC. The purchase comes after the firm had arranged a $6.8 million loan in early August from shareholder British Virgin Islands-based MMXX Ventures. At the time, the firm stated the entire amount was allocated for purchasing bitcoin. The firm now holds over 500 BTC and is the largest holder among publicly traded Asian firms after Hong Kong-based Meitu. The latest announcement bumped the company’s stock prices, bringing the market capitalisation to holdings ratio to the joint highest of 20% on Tuesday.
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5️⃣ Ohio Senator Introduces Bill to Allow Bitcoin, Crypto Payments for State Taxes 💸
Yesterday, Ohio State Senator Niraj Antani proposed legislation that would establish Ohio as one of the few states to accept crypto payments for state and local taxes. It requires all political subdivisions in Ohio to accept Bitcoin and other cryptocurrencies for payments. The legislation would also allow state institutions of higher education and the state pension fund to invest in cryptocurrency if they choose to.
Noting how the bill seeks to normalise crypto usage in Ohio’s financial sector, Antani stated,
Cryptocurrency is not just the future, but it’s the present of our 21st-century economy.
🔔 MARKET MOVING NEWS! (30/09/24)
1️⃣ Polymarket Users Complain Of Mysterious Google Login Wallet Attacks ❓
According to a Cointelegraph report, multiple users of the Polymarket prediction market app have complained of their wallets being mysteriously drained after they logged in via their Google accounts. The report recounts the story of two victims who have reached out to the publication. In both cases, users’ deposits were instantly drained and sent to an account labelled “Fake_Phishing399064.” These users also claimed that they had only used a google login and had never used an external wallet to connect to the platform. According to reports from victims, Polymarket has claimed that the attacks are only occurring against a few users and are not widespread.
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2️⃣ Dutch Regulator Warns Of Crypto Pump-And-Dump Risks Ahead Of MiCA ▶️
In a recently published press release, the Dutch Authority for the Financial Markets (AFM) warned citizens about the risks of cryptocurrency pump-and-dump schemes. Notably, this comes ahead of MiCA officially kicking into effect in the territory on Dec. 30. The AFM will supervise and enforce the new regulations in the Netherlands. Under MiCA, market manipulation practices like pump-and-dump schemes will be explicitly prohibited in the European Union.
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3️⃣ FTX Distribution Payments Do Not Begin On Sept. 30 ❌
Cointelegraph published a report debunking recent rumours that the FTX bankruptcy estate was going to begin distributing reimbursement funds to creditors and customers on Sept. 30. The report noted that the reimbursement plan has not yet been approved by a court of law. It cited an updated Chapter 11 filing which shows that the next court hearing to confirm the restructuring plan is on Oct. 7. It clarified that even if the plan is approved, claimants with claims under $50,000 would only start receiving payments by the end of 2024. As for those with larger claims, it noted that they may not receive distributions until the first or second quarter of 2025.
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4️⃣ Crypto Wallet Drainer Was On Google Play For Months, Stole $70K 🥶
According to a recent blog post by IT security firm Check Point Research, a crypto wallet drainer managed to stay listed on the Google Play store for months by disguising itself as the WalletConnect protocol. The blog post claims the malicious app used “advanced evasion techniques” to steal more than $70,000 in five months. The security company noted that this was “the first time drainers exclusively targeted mobile users.” It explained that the app used fake reviews and consistent branding to achieve over 10,000 downloads by ranking high in search results.
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5️⃣ Crypto Services Provider Matrixport Buys Crypto Finance's Asset Management Unit 🤝
Singapore-based crypto financial services platform Matrixport has announced the official completion of an all-cash acquisition of Swiss-compliant crypto asset management company Crypto Finance (Asset Management) AG (CFAM). The acquisition is part of Matrixport’s expansion in Europe. CFAM has now been renamed to Matrixport Asset Management AG (MAM).
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6️⃣ Global Crypto Investment Products Add $1.2 Billion In Net Weekly Inflows As Ethereum Funds Break Five-Week Negative Streak: CoinShares 🔍
According to CoinShares’ latest report, digital asset investment products recorded net inflows of $1.2 billion last week. This is the largest weekly net inflow in 10 weeks. Spot Bitcoin ETFs reportedly accounted for $1.1 billion of the $1.2 billion in net inflow last week. The report states that the positive net inflows were driven by “continued expectations of dovish monetary policy in the U.S. and associated positive price momentum.” It also noted that the SEC’s approval of the listing and trading of options for BlackRock’s spot Bitcoin exchange-traded fund likely boosted sentiment.
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