VirtualBacon Insider

🥓VirtualBacon Crypto Bits - 08/09/2023 Here are some major news in Crypto today 🟠 Whale Deposits $200 Million USDT and $9.15 Million Ether into Huobi Exchange Amid Continued Outflows and Unsubstantiated Rumors about Executives. https://www.coindesk.com/markets/2023/08/08/huobi-receives-200m-usdt-9m-ether-from-whale/ 🟠 Bank of England Moves Forward with Systemic Stablecoin Framework After UK Passes Relevant Financial Act. https://www.coindesk.com/policy/2023/08/08/uks-central-bank-forges-ahead-with-plans-for-a-systemic-stablecoin-regime/ 🟠 Central Bank of Brazil Launches 'Drex' Digital Currency; Code Allows Funds to be Frozen or Reduced. https://cointelegraph.com/news/brazilian-cbdc-drex-official-name-and-logo 🟠 Circle Introduces 'Programmable Wallets' to Facilitate Crypto Payments for Businesses and Customers. https://www.coindesk.com/business/2023/08/08/embargo-circle-makes-crypto-payments-easier-with-new-programmable-web3-wallet-for-businesses/ 🟠 Blockchain.com Secures License From Singapore's Monetary Authority for Regulated Crypto Services. https://cointelegraph.com/news/blockchain-com-payment-license-singapore-mas 🟠 Binance Obtains Licenses to Provide Bitcoin and Digital Asset Services in El Salvador. https://www.coindesk.com/business/2023/08/08/binance-receives-license-to-offer-bitcoin-digital-asset-services-in-el-salvador/ 🟠 Bitstamp to Halt Trading of Select Tokens in the U.S. as Part of Global Expansion Efforts. https://cointelegraph.com/news/bitstamp-raises-funds-for-global-expansion 🟠 Paxos Explores Additional 'White Label' Stablecoin Ventures Beyond PayPal's PYUSD. https://www.coindesk.com/business/2023/08/08/paxos-has-other-white-label-stablecoin-opportunities-in-the-works-in-addition-to-paypal-usd/ 🟠 Sam Bankman-Fried to Face Charges for "Illegal Campaign Finance Scheme," Justice Department Confirms. https://www.coindesk.com/policy/2023/08/08/sam-bankman-fried-will-still-face-campaign-finance-related-charge-doj-says/ 🟠 BlackRock Bitcoin ETF Approval Seen as Imminent, Expected Within 4 to 6 Months, According to Insiders. https://watcher.guru/news/blackrock-bitcoin-etf-approval-is-a-matter-of-when-not-if-say-insiders?c=173 🟠 Scammers Capitalize on PayPal's New PYUSD Stablecoin by Issuing Over 66 Fake Tokens on Various Blockchains. https://coinmarketcap.com/community/articles/64d287a65624c45c817db7ec/ 🟠 Huobi Announces It Will Be the First Exchange to List PayPal's PYUSD Stablecoin, Offering PYUSD/USDT Trading Pair with No Trading Fees. https://www.huobi.com/support/en-us/detail/44945804382445 🟠 Paxos Partners with PayPal to Launch PYUSD, a Dollar-Backed Digital Asset. https://paxos.com/pyusd/ 🟠 Uniswap Launches on Base. https://twitter.com/Uniswap/status/1688581784609435648?t=UCaTlxXCUkU-UprXtuRefw&s=19 🟠 FED Requires Approval for State Banks to Issue, Hold, or Transact Crypto Stablecoins. https://watcher.guru/news/fed-to-require-approval-before-state-banks-can-issue-hold-or-transact-crypto-stablecoin-payments

🥓VirtualBacon Crypto Bits - 08/08/2023 Here are some major news in Crypto today 🟠 PayPal Launches PYUSD Stablecoin, Backed by US Dollar Deposits and Other Cash Equivalents. https://watcher.guru/news/paypal-pyusd-stablecoin-backed-by-various-cash-equivalents 🟠 PayPal's Stablecoin Launch Won't Impact Tether, Focuses on U.S. Market Where Tether Doesn't Serve, Says CTO Paolo Ardoino. https://www.theblock.co/post/243602/paypal-stablecoin-tether-usdc-impact 🟠 US Congressman Patrick McHenry Hails Stablecoins as a "Pillar" of Modern Payment System, Welcomes PayPal's PYUSD Launch. https://watcher.guru/news/us-congressman-calls-stablecoin-a-pillar-of-payment-system 🟠 Coinbase CEO Brian Armstrong Reveals Binance's Shift from USDC to Other Stablecoins, Spotlighting Lesser-Known First Digital USD (FDUSD). https://cointelegraph.com/news/binance-sold-usdc-for-another-stablecoin-coinbase-ceo 🟠 UK's National Crime Agency Expands Digital Assets Team to Combat Crypto Fraud and Money Laundering. https://cointelegraph.com/news/uk-crypto-crime-agency-team-job-hiring 🟠 Worldcoin Anticipates Accelerated Integrations with Companies in Second Half of the Year, According to Product Head. https://cointelegraph.com/news/worldcoin-expects-more-companies-to-integrate-soon 🟠 Singapore Red Cross Partners with Triple-A to Accept Crypto Donations. https://cointelegraph.com/news/singapore-red-cross-accept-crypto-donation 🟠 KuCoin Announces Upgrade to Standard User Identity Verification Procedure for Enhanced Compliance and Security. https://www.kucoin.com/announcement/en-announcement-regarding-kucoin-s-upgraded-standard-user-identity-verification-procedure 🟠 Curve Finance Extends $1.85 Million Bounty for Identification of Exploiter After Return Deadline Expires. https://cointelegraph.com/news/curve-finance-opens-bounty-after-exploiter-deadline-expires 🟠 Huobi's Stablecoin Reserves Dip 30% Amid Reports of Executive Arrests; Exchange Denies Arrest Claims. https://www.coindesk.com/markets/2023/08/07/huobis-stablecoin-reserves-down-30-amid-reports-of-executive-arrests/ 🟠 Monetary Authority of Singapore Pledges Up to $150 Million SGD for Fintech Innovation Including Web3 Support. https://www.theblock.co/post/243554/singapore-mas-fintech-web3-funding 🟠 CoinGecko Launches Index for Crypto Tokens Considered as Potential Securities by the SEC. https://cointelegraph.com/news/coingecko-adds-index-crypto-deemed-securities 🟠 Bitcoin Pioneer Adam Back Wagers 1 Million Satoshis on BTC Hitting $100K Before Next Halving Event. https://cointelegraph.com/news/adam-back-bitcoin-price-bet-all-time-high-halving 🟠 Sino Global Capital Files $67.3 Million Claim Against FTX Trading Ltd., Expresses Regret Over Misplaced Trust in Partnership. https://www.coindesk.com/markets/2023/08/07/sino-global-files-67m-claim-against-ftx-alameda/

🥓VirtualBacon Crypto Bits - 08/07/2023 Here are some major news in Crypto today 1️⃣ Tether Launches Innovative BTC Mining Software to Enhance Efficiency and Capacity Tether has introduced new Bitcoin mining software aimed at enhancing the efficiency and management of mining capacity. Utilizing innovative JavaScript libraries, the software supports various mining hardware for more streamlined operations. The initiative aligns with Tether's ongoing investment in sustainable crypto mining, including efforts in Uruguay's renewable energy sector. https://cointelegraph.com/news/tether-unveils-mining-software-to-boost-efficiency-capacity 2️⃣ **Revolut to Cease Cryptocurrency Services in the U.S., Impacting 1% of Global Users** Revolut is suspending all cryptocurrency services in the U.S. starting September 2, with a full shutdown by October 3. The move, affecting 1% of the company's global crypto users, comes amid regulatory uncertainty and follows a previous delisting of specific digital assets. Revolut will continue its non-crypto business in the U.S. https://cointelegraph.com/news/crypto-revolut-to-suspend-cryptocurrency-services-in-us 3️⃣ U.S. Law to Collect IDs for $10,000+ Crypto Purchases Sparks Legal Battle Starting in 2024, a U.S. law will require businesses to collect personal information for crypto purchases over $10,000. Crypto think-tank Coin Center is appealing a dismissed lawsuit against this law, arguing it's unconstitutional financial surveillance. Concerns are raised over privacy and potential impact on businesses working with anonymous developers. https://www.dlnews.com/articles/regulation/crypto-privacy-battle-started-by-words-inserted-in-2021-law/ 4️⃣ Three Arrows Capital's OPNX Exchange Proposes $30 Million Rescue for Struggling Crypto Lender Hodlnaut Three Arrows Capital's linked exchange, OPNX, has offered to invest $30 million in FLEX tokens into struggling crypto lender Hodlnaut. The investment, amounting to a 75% ownership stake, aims to fund a partial creditor payout. If approved by creditors, the payout could reach up to 95% of the total available corporate asset pool, or include a 30% claim in FLEX and other tokens. https://www.bloomberg.com/news/articles/2023-08-06/opnx-exchange-touted-by-three-arrows-founders-bids-for-hodlnaut 5️⃣ FBI Warns of Increasing Crypto and NFT Scams The FBI has issued a warning about growing phishing scams and social media hijackings targeting the crypto and NFT community. Criminals are posing as legitimate NFT developers or using fake websites to steal digital assets. The scams often lure victims into connecting their wallets to a malicious contract, resulting in a loss of funds. The FBI urged the public to be cautious and verify opportunities before clicking on links. https://cointelegraph.com/news/fbi-warns-of-phishing-scams-and-social-media-account-hijackers 6️⃣ Huobi's Value Drops Amid Insolvency Rumors Cryptocurrency exchange Huobi has experienced a drop in total value locked (TVL) to $2.5 billion, down from $3.09 billion, amid rumors of insolvency and investigations by Chinese authorities. The exchange has seen $64 million in outflows between Aug. 5-6 and faces allegations of inconsistencies in its Tether holdings, which some suggest could mean the firm is insolvent. Huobi has also faced challenges in other jurisdictions, including enforcement action in Malaysia. https://cointelegraph.com/news/huobi-tvl-drops-amid-rumors-insolvency-investigations-china

We’re finally getting crypto frameworks from the US government! 3 Landmark Bills on Crypto just passed the House Financial Committee last week. What are the US future laws for Crypto? Watch this video to find out https://youtu.be/RMDtkQip-F4

🥓VirtualBacon Crypto Bits - 08/06/2023 Here are some major news in Crypto today 1️⃣ Musk Dismisses Rumors of Crypto Tokens for X Platform Elon Musk debunked speculations about launching crypto tokens for his social media platform, X, formerly known as Twitter. Responding to concerns over scam tokens falsely affiliated with X, Musk clarified that the platform has no plans to introduce its own crypto token, sparking a 2% surge in Dogecoin's value. https://cointelegraph.com/news/elon-musk-debunks-scam-token-claims-assures-no-crypto-plans-for-x 2️⃣ Tether's Class Action Lawsuit Dismissed by Judge A US District Court in New York dismissed a class action lawsuit against Tether related to its USDT stablecoin. The lawsuit, initiated by plaintiffs Matthew Anderson and Shawn Dolifka in December 2021, questioned the backing of USDT. However, the court found the case meritless, stating the plaintiffs failed to establish a tangible loss or the devaluation of USDT. The plaintiffs had sought financial compensation and injunctions for disclosure regarding Tether's reserve makeup. https://coinmarketcap.com/headlines/news/tether-declares-victory-in-class-action-lawsuit-as-judge-dismisses-case/ 3️⃣ NY Court Denies Dismissal of Civil Fraud Suit Against Former Celsius CEO A civil fraud lawsuit against Alex Mashinsky, the former CEO of crypto lender Celsius, will proceed after his motion to dismiss was denied by a New York court. The suit alleges that Mashinsky misled investors about the safety of Celsius investments, which led to significant losses. The case aims to ban Mashinsky from New York securities or commodities business and serving as an executive in any New York company. https://www.reuters.com/legal/founder-bankrupt-crypto-lender-celsius-must-face-ny-fraud-lawsuit-2023-08-04/ 4️⃣ Worldcoin Acknowledges and Fixes Security Bug; Continues Strong User Growth Worldcoin, a prominent crypto project, has addressed and fixed a security bug within 24 hours after being notified by CertiK, a security firm. The bug could have allowed the creation of an inactive Operator account but did not enable access to Orbs or data. Despite this issue, Worldcoin has seen impressive growth, claiming to attract over 545,000 new users and recording a daily average of 193,000 wallet transactions over the past week. https://cointelegraph.com/news/worldcoin-orb-had-serious-security-vulnerability-in-operator-onboarding-certik 5️⃣ HEX Loses $500M in Value After SEC Lawsuit; Dropped by MetaMask and Uniswap The HEX token's market cap fell by $500 million after the SEC sued its founder, Richard Heart, labeling HEX a security. The lawsuit prompted MetaMask and Uniswap to remove HEX support, causing concerns and criticism among the crypto community. https://coinmarketcap.com/headlines/news/hex-market-cap-drops-nearly-500m-after-sec-lawsuit-while-pulsechain-sees-boosted-trading-volume/ 6️⃣ Curve Finance Attacker Begins Returning Stolen Funds After Bounty Offered The hacker who targeted decentralized finance protocol Curve Finance has started returning the stolen Ethereum, valued at around $9 million. The return follows a 10% bounty offer on August 3rd by the impacted projects. Meanwhile, contagion fears persist in the market, as the value of Curve's native token fell by over 20% after the attack, and Curve's founder still has significant debt across various DeFi protocols. https://cointelegraph.com/news/curve-hack-mev-bot-behind-61m-heist-begins-returning-funds

New video just dropped. Don’t let the title fool you, I have been a XRP critic for the longest time. But the coin has come a long way over the last 5 years, so it’s worth a full revisit to see if it will make a comeback in the next bull run. https://youtu.be/usqNYpJq3vI

🥓VirtualBacon Crypto Bits - 08/05/2023 Here are some major news in Crypto today 1️⃣ Brazil's President Advocates for End of US Dollar Dominance in International Trade Brazilian President Luiz Inacio Lula Da Silva has reaffirmed his stance against the US Dollar's global dominance. He argues for trade in native currencies, and these views will be discussed at the upcoming BRICS Summit. This supports Brazil's advocacy for a gold-backed BRICS currency to counter US Dollar supremacy. https://watcher.guru/news/brics-brazils-president-calls-to-end-us-dollar-trade-dominance 2️⃣ Coinbase Challenges SEC's Authority to Pursue Lawsuit Coinbase has moved to dismiss a lawsuit by the US Securities and Exchange Commission (SEC), arguing the SEC lacks authority over the case. The crypto exchange asserts that the services in question do not qualify as securities under federal law. The SEC is expected to respond by October 3, 2023. https://watcher.guru/news/coinbase-says-sec-has-no-authority-to-pursue-its-lawsuit 3️⃣ Attacker Returns $10M in Stolen Funds from $61M Curve Finance Breach The perpetrator of the $61 million Curve Finance hack has returned $10 million in assets to one of the victims, Alchemix. The unexpected refund has raised hopes for full recovery of the stolen funds and boosted the value of Curve's governance token, CRV, by 5%. https://watcher.guru/news/perpetrator-behind-61-million-curve-attack-starts-returning-funds 4️⃣ Coinbase Confident of Winning Legal Tussle with SEC Coinbase's Chief Legal Officer, Paul Grewald, expressed confidence in winning their ongoing lawsuit with the SEC, stating the goal is to achieve regulatory clarity and protect consumers. The SEC, alleging securities law violations, has until October 3 to respond to Coinbase's dismissal motion. https://watcher.guru/news/coinbase-says-they-expect-to-win-legal-battle-with-the-sec 5️⃣ Bank of Russia Unveils Digital Ruble's Logo and Announces Future Commission Fees The Bank of Russia revealed the logo for its central bank digital currency, the digital ruble, and announced commission fee rates effective from 2025. Fees include $0.16 for business transactions and 0.3% for individual transfers to commercial accounts. https://cointelegraph.com/news/bank-of-russia-presents-digital-ruble-s-logo-and-commission-fees 6️⃣ FTX Founder Sam Bankman-Fried Risks Imprisonment Amid DOJ Accusations The U.S. Department of Justice (DOJ) maintains that Sam Bankman-Fried, founder of FTX, should be detained pending trial. The DOJ accuses Bankman-Fried of sharing a trial witness's diary with the press to discredit her and influence the jury. Despite the defense claiming these actions were to protect Bankman-Fried's reputation, the DOJ argues this was an attempt to corruptly sway witnesses. https://www.coindesk.com/policy/2023/08/04/sam-bankman-fried-likely-faces-jail-as-doj-pushes-for-incarceration/ 7️⃣ SEC Flooded with 12 Ethereum ETF Applications in Less Than a Week Twelve applications for Ethereum futures exchange-traded funds (ETFs) from leading investment firms including ProShares, Direxion, VanEck, Grayscale, Roundhill, and Bitwise are awaiting the U.S. Securities and Exchange Commission's (SEC) approval. Despite the wave of applications, industry experts remain skeptical about their acceptance. However, the decision could be a significant milestone for cryptocurrency integration into traditional finance. https://bitcoinist.com/12-ethereum-etf-filings-await-sec-green-light/

🥓VirtualBacon Crypto Bits - 08/03/2023 Here are some of the most important news headlines in Crypto today 1️⃣ Binance Reaches 150 Million Registered Users Binance, the leading cryptocurrency exchange, announced it has reached 150 million registered users, indicating a surge of 30 million users within a year, despite regulatory hurdles. The growth persists even as the platform faces scrutiny in several countries, including China where it is allegedly operating without access. https://watcher.guru/news/binance-reaches-150-million-registered-users-cz 2️⃣ Hong Kong Officially Opens Crypto Trading to Retail Investors Hong Kong has granted its first crypto exchange licenses to HashKey Exchange and OSL Digital Securities under a new regime permitting retail customer service. Both entities can now cater to retail users, expanding from their previous focus on professional investors, with immediate effect for digital asset products including Bitcoin and Ethereum. https://www.coindesk.com/policy/2023/08/03/hashkey-wins-hong-kongs-first-crypto-exchange-license-to-serve-retail-customers/ 3️⃣ Coinbase Announces Public Launch of 'Base' Layer-2 Blockchain US crypto exchange Coinbase has revealed the public launch date for its layer-2 blockchain, 'Base', as August 9. Built with Optimism's OP Stack, 'Base' was live for developers since July for application testing, and from Thursday, users will be able to bridge their Ethereum (ETH) to 'Base’. https://www.coindesk.com/tech/2023/08/03/coinbase-sets-public-launch-of-base-layer-2-blockchain-for-next-week/ 4️⃣ Shiba Inu Incorporates Digital IDs in Ecosystem Projects to Boost DeFi Presence Shiba Inu aims to improve its reputation among users and governments by integrating digital identity services across all platform applications, thereby bolstering demand for SHIB tokens. The meme coin is striving to become a significant player in the decentralized finance (DeFi) space with the launch of Shibarium, its layer-2 blockchain, utilizing BONE, TREAT, SHIB, and LEASH tokens for apps on the blockchain. https://www.coindesk.com/tech/2023/08/03/shiba-inu-take-steps-to-become-defi-contender-will-add-digital-ids-to-ecosystem-projects/ 5️⃣ BRICS to Discuss Local Currency Usage for Cross-Border Transactions The BRICS alliance plans to discuss the use of local currencies for cross-border transactions at the upcoming August summit. The move aims to diminish the role of the U.S. dollar in global trade, fostering remittance for imports and exports using native currencies, which could stimulate local economies and potentially shift global financial power. https://watcher.guru/news/exclusive-brics-will-discuss-local-currencies-usage-august-summit 6️⃣ New York Man Admits to $4.5 Billion Bitcoin Theft from Bitfinex Ilya “Dutch” Lichtenstein, a New York resident, has confessed to being the original perpetrator of the 2016 Bitfinex Bitcoin hack, which resulted in a theft worth $4.5 billion today. Lichtenstein confessed during a guilty plea to money laundering in a federal court in Washington, D.C. His wife, Heather Rhiannon Morgan, is also expected to enter her guilty plea. https://www.cnbc.com/2023/08/03/new-york-man-admits-being-original-bitfinex-hacker-during-guilty-plea-in-dc-to-bitcoin-money-laundering.html 7️⃣ eToro Faces Lawsuit from Australian Regulator The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against eToro, accusing the platform of insufficient customer screening for volatile contract for difference (CFD) products. ASIC asserts eToro's broad target market allowed unsuitable users to trade these high-risk derivatives. The regulator claims nearly 20,000 eToro clients lost money on CFDs from October 2021 to June 2023. https://cointelegraph.com/news/asic-sues-etoro-over-cfd-futures-trading-products

VirtualBacon Insider News - 08/02/2023 Here are some of the most important headlines in Crypto today 1️⃣ MicroStrategy made largest Bitcoin purchase since 2021 in Q2 2023 amid slight revenue decrease MicroStrategy acquired its largest single-quarter amount of Bitcoin since Q2 2021, purchasing 12,333 BTC at an average of $28,136 each. The move comes despite a slight decrease in revenue, emphasizing the firm's faith in Bitcoin. https://coinmarketcap.com/headlines/news/microstrategy-made-largest-bitcoin-purchase-since-2021-in-q2-2023-amid-slight-revenue-decrease/ 2️⃣ Bankman-Fried Pushes Back Against US Jailing Request FTX's co-founder Samuel Bankman-Fried asserts that his potential imprisonment over a chat with a reporter infringes on his free-speech rights, amid US prosecutors' demand to revoke his $250 million bond. https://www.bloomberg.com/news/articles/2023-08-02/bankman-fried-claims-jailing-him-would-violate-free-speech-right 3️⃣ Potential Fraud Charges Looming for Binance US Justice Department contemplates fraud charges against Binance. Alternatives like fines or non-prosecution agreements are being considered amidst heightened US regulatory scrutiny https://watcher.guru/news/us-government-considering-fraud-charges-against-binance 4️⃣ Uniswap delists HEX Uniswap has taken down the HEX token from its platform. This action follows a lawsuit from the SEC, claiming HEX to be an unregistered security. https://www.theblock.co/post/242713/uniswap-delists-hex-token 5️⃣ Binance Japan Kicks Off Crypto Services with 34 Digital Assets Binance launches operations in Japan through a subsidiary, offering a selection of 34 cryptocurrencies. https://asia.nikkei.com/Spotlight/Cryptocurrencies/Binance-Japan-launches-crypto-services-with-34-virtual-currencies 6️⃣ Worldcoin to allow government and businesses to use ID system Worldcoin plans to let organizations and governments tap into its iris-scanning identity-verification technology, aiming to boost user registration and build a substantial financial and identity community. https://cointelegraph.com/news/worldcoin-to-allow-government-and-businesses-to-use-id-system

Emergency update on Pulsechain and the entire Richard Heart ecosystem https://www.youtube.com/watch?v=w3TETu6VdBM

Top 3 Coins that I'm buying for August, you don't want to miss this video https://youtu.be/Pr8uTBzHsqw

Breaking down the FOMC meeting details and future rate hikes predictions https://youtu.be/nYp3wypz8Dk

live in 1 hour https://www.youtube.com/watch?v=KWnK2X_RPzU&ab_channel=VirtualBacon

Come join new livestream at 10AM EST https://www.youtube.com/live/GmPnPi4M5WI

Right after we talk about Chainlink CCIP, Metamask also announces they will integrate cross-chain transactions natively with their own “snaps” feature. Cross-chain DeFi is here to stay thedefiant.io/metamask-to-support-cross-chain-interactions-with-snaps-by-2024

New livestream in 45 minutes. We'll go over Chainlink's massive new upgrade and how this plays into a bigger trend in DeFi for the next cycle https://www.youtube.com/live/w8r3uH0LsNQ?feature=share

Hey guys I need your help. 🆘🆘🆘 My TikTok account got Permanently Banned by System error. https://tiktok.com/@virtualbacon If you like my TikTok videos, here's what you can do 1. leave comments politely on TikTok and mention my account VirtualBacon being mistakenly banned 2. share this post https://twitter.com/VirtualBacon0x/status/1681772058735157248?s=20 3. reach me at contact@virtualbacon.com if you know any other way

New Livestream in 3 hours, see you soon https://www.youtube.com/watch?v=GgUF16x0IBI&ab_channel=VirtualBacon

We go through a full recap of XRP's victory over the SEC lawsuit. Read it in this week's newsletter https://www.virtualbacon.com/newsletters/07-17-2023

New livestream starting, join me now https://www.youtube.com/watch?v=lZKxLL--zLk