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🔔 MARKET MOVING NEWS! (11/05/24) 1️⃣ EigenLayer Opens Claims for Airdrop of EIGEN Token, Though It's Non-Transferable ‼️ Ethereum restaking protocol EigenLayer has reportedly initiated the airdrop of its EIGEN token. However, the tokens are currently non-transferable, making them unable to be sold. While the Eigen Foundation has stated that EIGEN would become transferable at a yet-to-be-defined date, speculators on decentralised exchanges like Aevo and Hyperliquid are valuing EIGEN at around $9. This values EIGEN’s marketcap at roughly $15 billion, given the total supply of EIGEN at launch is 1,673,646,668.28466 tokens. Source 2️⃣ Banking Giant Wells Fargo Reveals Investments in Bitcoin ETFs 💸 According to paperwork recently filed with the U.S. Securities and Exchange Commission (SEC), American banking giant Wells Fargo has made investments in Bitcoin exchange-traded funds offered by Grayscale and ProShares. Specifically, Wells Fargo reported it held 37 shares of the ProShares Bitcoin Strategy ETF (BITO), which offers exposure to BTC futures, and 2,245 shares of Grayscale Bitcoin Trust (GBTC), which was converted to an ETF. The firm also reported 52 shares in Bitcoin Depot, a crypto ATM provider. Source 3️⃣ JPMorgan Reports Holding Shares Of Several Spot Bitcoin ETFs ▶️ U.S. based financial company JPMorgan Chase has reportedly disclosed investments in Bitcoin exchange-traded funds offered by Grayscale, ProShares, Bitwise, BlackRock and Fidelity. Notably, JPMorgan Chase’s disclosure was made in an SEC filing that came the same day as Wells Fargo’s. JPMorgan Chase reported it held roughly $760,000 worth of shares of the ProShares Bitcoin Strategy ETF (BITO), BlackRock's iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC) and the Bitwise Bitcoin ETF. It also reported 25,021 shares worth roughly $47,000 in Bitcoin Depot, a crypto ATM provider. Source 4️⃣ Binance Obtains FIU Approval For India Return ☄️ Global crypto exchange Binance has reportedly obtained approval from India’s Financial Intelligence Unit (FIU) to offer its services in the country. The recent approval makes Binance the second off-shore crypto exchange to get a regulatory nod after KuCoin. Binance is now a ‘reporting entity’ registered under the FIU. Although Binance has registered with the FIU, its operations in the country will only resume after paying a $2 million fine for noncompliance. Source 5️⃣ Justice Department Grants Binance Monitorship to FRA Over Sullivan & Cromwell 🔍 The United States Department of Justice (DOJ) has reportedly appointed Forensic Risk Alliance (FRA) as the outside monitor for crypto exchange Binance. Notably, FRA, a London-based firm specialising in forensic accounting and compliance consulting services, beat out Sullivan & Cromwell for the position. As monitor, FRA will be tasked with ensuring that Binance complies with the plea agreement. It will gain access to internal records, facilities and employees to report on the company’s activities to the government. The monitorship is expected to be "hard" on Binance but may allow the exchange to re-enter markets it had been dropped from.

🔔 MARKET MOVING NEWS! (10/05/24) 1️⃣ ETH Reverts to Inflationary Asset Following Fee-Reducing Dencun Upgrade 🤔 According to a recent CryptoQuant report, the supply of Ethereum's Ether is no longer deflationary after the network’s highly anticipated Dencun upgrade went live two months ago. Notably, the recent Dencun upgrade was designed to reduce fees and help scale the network. However, it also appears to have potentially reversed one of the key benefits of the 2022 Merge. The report reveals that Dencun has made transaction fees on Ethereum on average four times lower than before, making the amount of ETH getting burned to one of the lowest levels since the Merge while supply is growing at the fastest rate since 2022. Source 2️⃣ Canadian Regulator Fines Binance $4.4M For AML And CFT Violations ‼️ The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has reportedly imposed a $4.4 million administrative monetary penalty on Binance for failing to comply with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. According to the regulator, Binance failed to register as a foreign money services business. It also supposedly failed to report 5,902 crypto transactions bigger than $10,000 and their attached know-your-customer (KYC) information. The regulator reported that Binance’s activities for incurring the fine happened when it was winding down its operations in Canada in 2023. Source 3️⃣ Grayscale Parent Digital Currency Group Reports $229M Revenue for Q1 💰 Digital Currency Group (DCG), the parent company of asset manager Grayscale, reported a first quarter revenue of $229 million. DCG stated that Grayscale accounted for $156 million of its first quarter revenue. Notably, sharp rises in the price of bitcoin (BTC) and ether (ETH) kept the revenue from Grayscale flat from the previous quarter despite heavy redemptions and a reduced management fee following the conversion of the Grayscale Bitcoin Trust (GBTC) to an ETF. Two other notable DCG ventures, crypto mining pool Foundry and investing platform Luno, saw revenue increases of 35% and 46%, respectively. Source 4️⃣ Bugs In Gains Network Fork Let Traders Profit 900% On Every Trade: Report ▶️ According to an April 19 report from blockchain security firm Zellic, two different bugs in a fork of the Gains Network leveraged trading protocol could have allowed traders to profit 900% on every trade, regardless of the price of the token traded. Notably, one of the bugs existed in a previous version of Gains but was later patched while the other was only found in a fork of the protocol. While Zellic’s staff has informed the developers of Gains forks Gambit Trade, Holdstation Exchange, and Krav Trade of the vulnerability, other Gains forks may still be vulnerable. Source 5️⃣ Eclipse CEO Steps Back Amid Harassment Allegations 🔍 Neel Somani, the founder and CEO of Ethereum scaling company Eclipse, has announced that he would be stepping back from his role as a "public face" for the company after a flurry of sexual harassment allegations against him resurfaced. Somani stated, Serious allegations have been made against me on Twitter in the last week. These allegations are false, but serious allegations about sexual misconduct warrant a serious and thoughtful response […] I'll be temporarily reducing my role as a public face for Eclipse. The senior leaders at Eclipse are well equipped to take on these responsibilities and this will allow these conversations to unfold and the truth to emerge about these allegations.

🔥 Rally Report 🔥 TONCOIN The price of TON has rallied by 17% in the past 24 hours. WHY?! 📈 The rally comes after Notcoin, a viral Telegram-based game, announced that its anticipated token NOT will be launching on OKX Jumpstart and Binance launchpool. Crypto exchange Bybit also announced a listing of NOT on the exchange. 🔍 Specifically, Binance’s listing of Notcoin has led to speculation about a possible spot listing for TON as well. If you want to buy or trade TON, we have an exclusive $60K. COIN BUREAU DEALS.

🚨 New Video Alert!! 🚨 Folks! If you want to make the most of this bull market, you need to know your exchanges back to front. That’s why today we’re bringing you a step-by-step guide to KuCoin, a top exchange beloved for its vast selection of exotic altcoins. KuCoin calls itself the ‘People’s Exchange’, and that’s no bluff. It has 30 million users in 200+ countries, and is the seventh biggest exchange by trading volume. In this video, you’ll learn everything you need to know, from setting up, depositing and withdrawing crypto, to trading on the spot and futures markets like a pro. Not only that, you’ll learn about KuCoin’s passive income products, games (yes, really), and other unique features. Plus, if you stick around, you’ll even learn how to save big bucks on KuCoin trading fees, with a little help from the Coin Bureau. So, we’ll see you at the like button!

🔔 MARKET MOVING NEWS! (09/05/24) 1️⃣ House Votes To Nullify SEC’s Anti-Crypto Banking Guidance SAB 121 ▶️ The U.S. House of Representatives has voted to approve a resolution rejecting the U.S. Securities and Exchange Commission's (SEC) controversial cryptocurrency accounting guidance known as SAB 121. Notably, SAB 121 requires firms, including banks, that custody crypto to record customer crypto holdings as liabilities on their balance sheets. The resolution passed by the U.S. House of Representatives seeks to formally disapprove of the SEC's guidance, with support from both Democrats and Republicans. However, President Joe Biden has stated he will veto the resolution if it reaches his desk for approval, citing the potential risks and losses to consumers that led to the issuance of SAB 121. The Biden administration stated, SAB 121 was issued in response to demonstrated technological, legal, and regulatory risks that have caused substantial losses to consumers. By virtue of invoking the Congressional Review Act, it could also inappropriately constrain the SEC’s ability to ensure appropriate guardrails and address future issues related to crypto-assets including financial stability. Source 2️⃣ Optimism’s Superchain Now Supports Layer 3 Chains Via OP Stack ☄️ Ethereum scaling solution provider Optimism has announced that Layer 3 chains can now join the Superchain by building on the OP Stack and sharing sequencer revenue with its governance body, the Optimism Collective. Notably, layer 3 builders who join the Superchain will have access to retroactive funding, airdrops, and growth campaigns, along with a broad network of developers. Two key features are coming to the OP Stack to support the integration of Layer 3s — custom gas tokens, and “Plasma Mode.” Custom gas tokens allow chains to design their transaction fees and Plasma Mode allows chains to pick their own data availability (DA) layer. Source 3️⃣ DWF Labs Denies Report That It Did $300 Million Of Wash Trading On Binance Last Year 🧐 A recently published Wall Street Journal report claims that Binance investigators uncovered $300 million worth of wash trading from crypto trading and market-making firm DWF Labs during 2023. The report cited an anonymous source claiming to be a former Binance insider. Binance reportedly launched an investigation into the allegations but claimed there was insufficient evidence. The report claims the exchange fired the head of the surveillance team and rejected the request to remove DWF Labs as a client. Both DWF Labs and Binance have denied the allegations. A Binance spokesperson told Cointelegraph, Binance emphatically rejects any assertion that its market surveillance program has permitted market manipulation on our platform. We have a robust market surveillance framework that identifies and takes action against market abuse. Any users that breach our terms of use are off-boarded; we do not tolerate market abuse. Source 4️⃣ Proposed US Blockchain Integrity Act Would Ban Crypto Mixers For 2 Years 🔍 A group of five Democratic congresspeople led by Sean Casten have reportedly introduced a bill called the Blockchain Integrity Act in the United States House of Representatives. The bill seeks to ban cryptocurrency mixers for two years and would temporarily prohibit financial institutions, including cryptocurrency exchanges, virtual asset service providers and any other registered money service businesses, from accepting funds that had gone through a mixer or allowing funds to be withdrawn directly to the address of a mixer. Every violation would be subject to a civil penalty of up to $100,000.

🔥 Rally Report 🔥 AKASH NETWORK The price of AKT has rallied by 8% in the past 24 hours. WHY?! 📈 The rally seems to be led by speculative trading activity on South Korean crypto exchanges. 🕯 Notably, the AKT/KRW pair on the South Korean crypto exchange Upbit saw a daily trading volume of $38M, accounting for nearly 61% of AKT’s global trading volume today. If you want to buy or trade AKT, we have an exclusive trading fee discount of up to 60%. COIN BUREAU DEALS. Registration is on, contact Admin.

🚨New Video Alert!! 🚨 Unless you’ve been living under a rock, you’ll know that asset managers like Blackrock have been super bullish on crypto. Another asset manager is Fidelity, who are almost as big as Blackrock. They recently published their Q1 report for BTC and ETH’s performance. I’m sure you’ll all agree that so far, 2024 has been eventful to say the least. That’s why, when we saw this report, we knew we had to take a closer look. It breaks down how Bitcoin and Ethereum have performed, issues they could face going forward, and where they could be headed next. If you hold either BTC or ETH (as we’re sure most of you do), then you’ll want to watch this one right until the end. P.S. We hope you like our Shakespearean rhymes 😉

🔔 MARKET MOVING NEWS! (08/05/24) 1️⃣ Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says in New Plan 🤩 According to recent court filings, bankrupt crypto exchange FTX has proposed a new reorganisation plan that will see creditors get back 118% of their claims – in cash – within 60 days of court approval. However, only creditors holding claims in an allowed amount below $50,000 will be eligible for the 118% recovery. The estate estimates that over 98% of its creditors fall within this limit. While some still deem the plan unjust, the proposed payouts are higher than earlier estimates from the FTX estate, which said in October it expected to pay back only 90% of customer funds. Source 2️⃣ Grayscale Withdraws Ethereum Futures ETF Application to SEC 🤔 Crypto asset manager Grayscale has reportedly withdrawn its 19b-4 application for an Ether futures exchange-traded fund (ETF). Notably, the withdrawal comes just three weeks before the securities regulator is forced to decide on it. Bloomberg ETF analyst James Seyffart described this as an “interesting move” since he initially believed that Grayscale planned to strategically use its Ether futures ETF as a “trojan horse” to corner the SEC into approving its spot Ether ETF. But, now that it's withdrawn, it means that there is “no way” for Grayscale to sue the SEC if it knocks back its spot Ether ETF application. Source 3️⃣ Vitalik Buterin Proposes EIP-7702 Aiming To Refine Account Abstraction On Ethereum ⚡️ Ethereum co-founder Vitalik Buterin and co-authors have reportedly proposed a new Ethereum Improvement Proposal (EIP) called EIP-7702 as an alternative to EIP-3074 to refine account abstraction on the Ethereum network. Notably, the new EIP-7702 suggests a novel transaction type that allows externally owned accounts (EOAs) to temporarily function as smart contract wallets during a transaction and revert to their original state afterwards. The proposal aims to achieve backward compatibility with ERC-4337, a broader standard for smart contract wallets. Source 4️⃣ Bybit To Integrate Ethena Labs' USDe As A Collateral Asset ‼️ Crypto exchange Bybit has reportedly integrated yield protocol Ethena’s synthetic dollar ‘USDe’ as a collateral asset to trade perpetual futures of all assets and in spot trading pairs for bitcoin and ether. This integration is expected to allow users to earn yield and "unlock greater capital efficiency." USDe will also launch within the exchange's Earn platform, and users will be able to use their synthetic dollars for Bybit launchpool farming. Guy Young, CEO and founder of Ethena Labs stated, Ethena’s integration with Bybit is a significant step in driving use cases for USDe. Offering USDe as collateral on Bybit which is one of the most important derivative venues in all of crypto will unlock USDe’s next wave of growth, further challenging the existing stablecoin hegemony with a tailored product purpose-built for crypto-natives. Source 5️⃣ LocalMonero Exchange Shuts Down As Crypto Privacy Services Dwindle 🔽 LocalMonero, a peer-to-peer (P2P) trading platform for privacy coin Monero, has announced that it will be shuttering its services with immediate effect due to “internal and external factors.” All new signups and advertisement postings for Monero trades are disabled. The platform also stated that it will disable the trading of XMR on May 14. The move comes after nearly seven years of its operation. It told Cointelegraph that “the wider hostility toward privacy-centric products and services was certainly a factor.” The team also stated that the imminent launch of DEXs such as Haveno and Serai and a recently announced privacy update called Full-Chain Membership Proofs (FCMPs) gives them confidence that Monero’s future is bright, “with or without our platform.”