Coins▪︎Trading▪︎Crypto News

🇬🇧 UK sharpens focus on crypto regulation in latest anti-money laundering report The UK Financial Conduct Authority (FCA)’s recent anti-money laundering and counter-terrorist funding (AML/CTF) efforts have focused heavily on crypto. The UK Treasury said in a May 1 report that the FCA considers crypto firms — like retail and wholesale banks and wealth management firms — to be “particularly vulnerable” to financial crime and at the highest risk for exploitation through money laundering. Source Coin | Trading | News

🪙 Tether sees record net profit of over $4.5 billion in first quarter of 2024 Tether's attestation for the first quarter of 2024 revealed the firm made a net profit of $4.52 billion, saw its highest-ever percentage ownership of Treasury bills and had total net equity exceeding $11.3 billion. On Tuesday, Tether Holdings Limited released its assurance opinion for the first quarter of 2024, which detailed $1 billion in profit from the group's entities in charge of issuing stablecoins and managing their respective reserves. Source Coin | Trading | News

🇺🇸 Expert fears resurgence of ‘environmental narrative’ as US coal miner generates $30 million by mining Bitcoin Alliance Resource Partners (ARLP), a US-based coal mining company, said it has successfully mined 425 Bitcoin worth $30 million by harnessing excess energy from its facilities, according to its first-quarter earnings call. Over the past years, BTC mining companies have increasingly relied on green energy sources, with over 50% of their energy sources powered by renewable sources. ARLP’s entry into the BTC mining scene could prompt critics to renew their concerns about the environmental hazards associated with the sector. Source Coin | Trading | News

🇺🇸 US 💰 Bitcoin ETFs record fourth consecutive trading day of outflows According to the latest data from Farside Investors, April 29 saw an outflow of $51.6 million from US Bitcoin ETFs, marking the fourth consecutive trading day of outflows. While this figure does not represent the lowest outflow during this period, it highlights the prevailing market sentiment. Grayscale’s GBTC product witnessed an outflow of $24.7 million, the lowest since April 10, bringing its total outflows to $17,209.3 billion. Source Coin | Trading | News

💰 MicroStrategy buys 122 BTC in April to bring total holdings to 214,400 BTC Michael Saylor's firm MicroStrategy released Monday new figures on its bitcoin holdings, alongside its first-quarter 2024 earnings report. The firm holds a total of 214,400 bitcoin valued at $7.54 billion overall, or $35,180 per token, the quarterly report notes. Since the end of the fourth quarter, the firm bought 25,250 bitcoin for $1.65 billion at $65,232 per BTC. Saylor noted in a social media post that the firm acquired an additional 122 BTC for $7.8 million in April. Source Coin | Trading | News

💰 Bernstein says slowing Bitcoin ETF flows are a 'short-term pause,' maintains $150,000 price target Analysts at research and brokerage firm Bernstein aren’t worried about the slowing spot bitcoin exchange-traded fund flows, expecting the trend to be a “short-term pause” before bitcoin resumes its bull run toward their $150,000 target by the end of 2025. “Bitcoin ETF flows have slowed down, with the ‘halving’ catalyst and successful ETF launch, pulling forward returns YTD (up 46%),” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Monday. Source Coin | Trading | News

🇺🇸 FBI Warns Against Using Unregistered Cryptocurrency Money Transmitting Services The Federal Bureau of Investigation (FBI) has issued a warning about using unregistered cryptocurrency money transmitting services that fail to comply with U.S. anti-money laundering laws. The agency has provided tips for the public to protect themselves, advising them to avoid providers that do not require Know Your Customer (KYC) information. Source Coin | Trading | News

💰 Internet Computer founder says crypto has 'snake-oil’ problem Dfinity Foundation's Dominic Williams doesn't pull any punches when asked to give his thoughts on the world of crypto and blockchain, an area he's been working in for roughly a decade. "It's gotten to a place where people actually invest in snake oil. Like, 'who's got the best snake oil, I'm going to invest in that because their marketing is better,'" Williams recently told The Block. "Today there's a lot of confusion and people are just buying into these narratives. Source Coin | Trading | News

💰 Bitcoin Cannot Grow Without the Spot Bitcoin ETFs: Report Spot Bitcoin ETFs have been a major catalyst in driving BTC to establish an all-time high months before its fourth halving. According to a new report by Ecoinometrics, Bitcoin cannot grow further without those products. These funds appear to have “stopped accumulating coins” (in aggregate) for more than a month, which can be a cause of concern for the leading asset’s future price trajectory. Source Coin | Trading | News

📣 Pantera Capital’s Fund V Targets $1 Billion for Diverse Blockchain Investments Pantera Capital is seeking to secure $1 billion for its new fund, ‘The Panter Fund V. ‘ It is designed to provide investors with exposure to a wide range of blockchain-based assets. The Pantera Fund V has been designed to be an all-encompassing product, differing from the digital asset investment manager’s previous funds with more specific investment focuses such as the Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund, and Venture Funds. Qualified investors must allocate a minimum of $1 million, with the first close scheduled for April 1, 2025. Source Coin | Trading | News