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🔔 MARKET MOVING NEWS! (25/05/24) 1️⃣ UK Woman Jailed for Laundering Crypto Tied to $5.6 Billion Fraud 🔒 Jian Wen, a British-Chinese woman, has reportedly been found guilty of laundering bitcoin as part of a $6 billion fraud in China. Notably, Wen allegedly laundered about 150 BTC between 2017 and 2022 for a Chinese woman who used to be her former boss. Wen reportedly laundered the proceeds by converting the Bitcoin into cash and purchasing property, jewellery and other luxury items. London’s Southwark Crown Court has sentenced her to six years and eight months in prison. Source 2️⃣ Investigation Finds FTX Bankruptcy Lawyer Didn’t Conspire With Exchange ❓ An independent investigation conducted by former United States prosecutor Robert Cleary has reportedly found that Sullivan & Cromwell LLP, the law firm that oversaw the FTX bankruptcy, was unaware of the dire financial conditions and underlying fraud that led to the collapse of the once-thriving exchange. Cleary noted that while attorneys at Sullivan & Cromwell did make false statements while representing FTX, they did so without knowing the statements were false. Source 3️⃣ Solana Pantera, Figure Markets Buy Last of Discounted FTX Solana 💰 The estate of bankrupt crypto exchange FTX has reportedly offloaded the last of its highly discounted SOL tokens to Pantera Capital and Figure Markets. According to Bloomberg’s sources, Figure paid about $80 million for a block of 800,000 coins, roughly equating to $102 per token. This is a steep discount to its current market price of $169. A four-year vesting schedule for the tokens will be implemented as part of FTX’s agreement with purchasers of the discounted assets. Source 4️⃣ Ethereum Foundation Says It's Working To Address Potential Conflicts Of Interest ‼️ According to a recent statement made by Ethereum Foundation (EF) Executive Director Aya Miyaguchi, the organisation is accelerating work on a formal policy to address potential conflicts of interest. Notably, the statement comes after two of EF’s researchers disclosed receiving “significant” EigenLayer token incentives. Miyaguchi’s statement reads, The Ethereum Foundation’s credible neutrality is critical for us to perform our role in the ecosystem. We are aware of the current conversation about potential conflicts of interest, and share the community’s concerns. It is clear that relying on culture and individual judgment has not been sufficient, and we have been working on a formal policy to address this problem for a while now. We will be accelerating this work and will share an update soon. Source 5️⃣ Solana Eyes 2025 For Firedancer Rollout As DePIN Activity Surges 🔍 According to Solana Foundation’s DePIN lead Kuleen Nimkar, Solana plans to release a full version of the Firedancer upgrade in 2025, with “pared-down versions” rolling out prior. The upgrade aims to increase Solana’s overall reliability and scalability as network activity from decentralised physical infrastructure protocols (DePIN) continues to grow. Protocols pumping DePIN activity onto Solana include Helium, Hivemapper, and Render. Source 6️⃣ Bitcoin Miner Marathon Digital Partners With Kenya On Renewable Energy Projects 🤝 Bitcoin mining firm Marathon Digital Holdings has announced a new partnership with Kenya’s Ministry of Energy and Petroleum (MOEP) that will see the firm work on a series of Bitcoin-based renewable energy projects in Kenya. According to a joint statement, the two groups will establish a committee charged with steering the development and implementation of those energy-related projects across the African nation.

🔥 Rally Report 🔥 UNISWAP The price of UNI has rallied by 19% in the past 24 hours. WHY?! ‼️ Uniswap Labs and Across Protocol have jointly proposed ERC-7683, a new standard establishing a unified framework for intents-based systems to specify cross-chain actions. ☄️ This makes cross-chain interactions more efficient and cost-effective, benefiting users by lowering fees and speeding up transactions. Uniswap Labs has already adopted ERC-7683 for cross-chain swaps on UniswapX. If you want to buy or trade UNI, we have an exclusive $60K. COIN BUREAU DEALS

🔔 MARKET MOVING NEWS! (24/05/24) 1️⃣ Ether ETFs Clear Major Hurdle, Though SEC Hasn't Cleared Them for Trading Yet ⚡️ The U.S. Securities and Exchange Commission has reportedly approved the 19b-4 forms for eight spot Ethereum ETFs. The eight ETF issuers are BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton. However, they are not yet cleared to trade. The regulator must approve their S-1 filings before investors can buy them. The approval follows a stunning turnaround by the markets regulator. After clearing spot bitcoin ETFs earlier this year, the SEC didn't seem to engage much with issuers on ether ETFs. Bloomberg ETF analyst James Seyffart stated, A week ago, I would've said you were a little crazy to think that these ETFs were going to get SEC approval. Source 2️⃣ Polymarket Gets Backlash Over ‘Approved’ Outcome On $13M Ethereum ETF Bet 🔍 Users of the decentralised betting platform Polymarket are reportedly criticising the platform’s decision to close on a “yes” result on a betting market that saw over $13.2 million worth of bets placed on whether an Ether ETF would be approved by May 31. Notably, the betting market did not exactly specify what “approved” meant. Users who lost money by betting against the approval of spot Ether are crying foul toward the decentralised betting platform, arguing the bet is still on. They argue that a United States ETF needs an approved 19b-4 filing and Form S-1 to start trading on an exchange, and without the S-1 filing, there can’t be a “Yes” result. Source 3️⃣ Algorand Causes A Stir With New Ad Bashing Bitcoin, Ethereum And Solana 🥶 Yesterday, the Algorand Foundation released a new advertisement on YouTube titled “When blockchains meet the real world, only one delivers.” However, the ad has generated controversy by taking a dig at rival networks Bitcoin, Ethereum, and Solana. It featured a supermarket checkout with shoppers attempting to pay in three different crypto assets, Bitcoin, Ether and Solana. It then suggested they were not suitable for payments by citing that Bitcoin payments would take 27 minutes to finalise, Ethereum payments would cost $112 in fees, and Solana payments were impossible because the transaction kept failing. The camera then panned to the next checkout queue processing customers instantly using Algorand with the captions “Instant finality. Low Fees. Designed for the speed of life.” Chainlink community liaison Zach Rynes commented on the ad, stating, This kind of marketing makes no sense to me. Non-crypto people will just walk away with a negative impression (“yeah crypto sucks”), not even knowing it’s an ad *for* crypto. Source 4️⃣ DOGE Meme Icon Kabosu Passes Away At 18 🐶 Kabosu, the Shiba Inu known as the face of the legendary “Doge” meme and the Dogecoin memecoin, passed away peacefully at the age of over 17 years old on May 24. A farewell party for Kabuso is reportedly being held on May 26th in Narita City. Her owner, 62-year-old kindergarten teacher Atsuko Sato, who lives in the city of Sakura in Chiba Prefecture, Japan, confirmed the news Friday in a blog post. Source 5️⃣ Bitcoiner Raises The Orange Flag On Mount Everest 💸 Dadvan Yousuf, a 23-year-old crypto user who recently climbed Mount Everest, reportedly presented an orange flag with the Bitcoin logo when he reached the peak. Yousuf stated that the expedition was intended to highlight the “global disparity in access to financial education.” A spokesperson for Yousuf told Cointelegraph, Funnily enough, other climbers asked about the memecoin pepe and where the best place to buy it was on the highest place on earth. The sherpas were enthusiastic about the principle of Bitcoin and were visibly happy.

🔥 Rally Report 🔥 ONDO The price of ONDO has rallied by 12% in the past 24 hours. WHY?! ‼️ The rally follows the recent 19-b form approvals for spot Ethereum ETFs. While not explicitly stated, the approval of forms that describe ETH ETFs as "commodity-based trust shares” has strengthened ETH’s status as a ‘commodity.’ This has further led to a CT narrative that this is effectively a green light for the tokenisation of all assets on Ethereum – making the RWA sector (which ONDO belongs) one of the biggest beneficiaries of the spot ETH ETF approvals. 🔍 Another possible catalyst is Coinbase’s recent support for ONDO on its perpetual market. Trading commenced for ONDO-PERP on Coinbase International Exchange & Coinbase Advanced yesterday. If you want to buy or trade ONDO, we have an exclusive $60K. COIN BUREAU DEALS registration is on.

🚨 New Video Alert!! 🚨 It’s about time we did an altcoin update, don’t you think? Well, today we have a very special one for you: Fantom. Fantom has been in the news a lot lately because of its upcoming Sonic Upgrade. The FTM token itself has also doubled in price (though it’s fallen a bit since that rally). More importantly, it appears that Fantom is pivoting its entire ecosystem over to Ethereum with the Sonic Network. If you hold FTM or are interested in layer 2s, this is a video you need to see. The same is true if you’re a fan of Solana or Solana killers, as it seems that Fantom may be trying to compete on that front as well… Enjoy!

🔔 MARKET MOVING NEWS! (23/05/24) 1️⃣ U.S. House Approves Crypto FIT21 Bill With Wave of Democratic Support ☄️ The U.S. House of Representatives has reportedly voted to pass a bill known as the Financial Innovation and Technology for the 21st Century Act (FIT21). Notably, the FIT21 seeks to establish regulations for digital asset markets, marking a significant legislative accomplishment for the crypto industry. The bill received bipartisan support, with Democrats crossing party lines to vote in favour. The bill will now move to the U.S. Senate, where its future is uncertain due to a lack of counterpart legislation and unclear support for the effort. If passed by the Senate and signed into law, the bill clarifies the roles the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have over digital assets. Source 2️⃣ Gensler Must Answer for Prometheum, ‘Regulatory Uncertainty’ on Ethereum, Lawmakers Say ‼️ Chairman of the House Financial Services Committee Patrick McHenry and subcommittee heads Bill Huizenga and French Hill have reportedly sent a letter to SEC Chair Gary Gensler, demanding the SEC hand over records and communications related to Prometheum and the regulatory status of Ethereum. The letter reads, Prometheum’s announcement that it will offer custody services for ETH [raises] a number of questions regarding what are, and what are not, permitted activities for SPBDs. Without answers, […] our concerns about the precedent being set by the SEC, Financial Industry Regulatory Authority (FINRA), and Prometheum are growing. Source 3️⃣ 18M Americans Used Or Owned Crypto In 2023 — Fed Survey 💸 According to the Fed’s latest Survey of Household Economics and Decisionmaking (SHED), the number of United States adults reporting crypto ownership or usage dropped to around 18 million in 2023. Notably, the Fed’s results are far below Coinbase’s long-touted claim in its lobbying efforts that 52 million Americans own crypto. SHED also reported that only 1% of adults said they use crypto as a payment method or to send money, down half from 2022, while 7% purchased or held crypto as an investment. Source 4️⃣ BlackRock, Grayscale, Bitwise File Updated 19B Forms in Rush for Ethereum ETF ⚡️ Asset managers BlackRock, Grayscale and Bitwise have all reportedly filed amended 9b-4 forms with the U.S. Securities and Exchange Commission (SEC) for their proposed spot ether exchange-traded funds (ETFs). Notably, all the updated forms removed the provisions for staking ether. BlackRock’s amended filing states, Neither the Trust, nor the Sponsor, nor the Ether Custodian [...] nor any other person associated with the Trust will, directly or indirectly, engage in action where any portion of the Trust’s ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings. Source 5️⃣ SEC Has Started Engaging With Ethereum ETF Issuers Over S-1 Forms: Source 👀 According to a report by The Block, the U.S. Securities and Exchange Commission has begun discussions around S-1 registration statements with prospective Ethereum ETF issuers. The Block’s source is reportedly a high-ranking member at an issuer. When asked about conversations relating to S-1 forms, they stated, Basically, it's just starting. It feels a little like [the Division of Investment Management] was more-or-less caught off-guard by the change of tune. So, just starting. Source 6️⃣ FTX’s Sam Bankman-Fried Being Transferred to New Prison 🔍 According to a Wall Street Journal report, officials are preparing to send former FTX CEO Sam Bankman-Fried (SBF) from New York to a federal facility in California near his parents’ home. SBF could serve most of his sentence at the Federal Correctional Institution in Mendota. If transferred to FCI Mendota, Bankman-Fried would be staying roughly 200 kilometres from his parents’ California home. The facility currently houses 931 inmates, according to the Federal Bureau of Prisons’ website.

🔥 Rally Report 🔥 BITTENSOR The price of TAO has rallied by 12% in the past 24 hours. WHY?! ❓ The rally seems to be fuelled by an unconfirmed rumour that digital asset manager Grayscale plans to register a new trust tracking the token. 🤔 Pseudonymous X user ‘CEYEBER’, who founded the official Bittensor Community Channel on Telegram, claims the Grayscale rumour has been “confirmed by close sources.” However, there is no evidence of this in SEC filings. ‼️ Another factor potentially influencing the rally could be the recent announcement made by Taobot, a component of the Bittensor ecosystem. Notably, the Taobot team announced that it had been accepted as one of the first projects to join Akash Network’s Llama 3 API beta. If you want to buy or trade TAO, we have an exclusive trading fee discount of up to 60% on Kucoin COIN BUREAU DEALS.

🔔 MARKET MOVING NEWS! (22/05/24) 1️⃣ Farcaster, Blockchain-Based Social Media Startup, Raises $150M, Led by Paradigm 💰 Blockchain-based social-media project Farcaster has reportedly raised $150 million in a Series A funding round. According to a post by founder Dan Romero, the round was led by Paradigm and saw participation from a16z, Haun, USV, Variant and Standard Crypto. Romero also stated that the funding would support the development of Farcaster for several years and added that the project was hiring staff-level engineers. Source 2️⃣ Uniswap Labs Fires Back Against SEC’s 'Weak and Wrong' Legal Threats 🔍 Uniswap Labs, the developer behind the DEX of the same name, has reportedly filed a response to the United States Securities and Exchange Commission (SEC) issuing a Wells notice to the firm. Uniswap Labs’ Chief Legal Officer Martin Ammori stated that the SEC would have to redefine what an exchange is in order to have jurisdiction over Uniswap. The company stated, Their legal arguments are weak and have been refuted by courts. The SEC’s aggressive theories are an effort to expand its jurisdiction beyond exchanges to communications technology—and beyond securities to all markets. Source 3️⃣ Trump Becomes First Major Party Candidate to Accept Crypto Donations 💸 Former United States President Donald Trump has reportedly begun accepting crypto donations for his presidential campaign. The Trump 2024 campaign has launched a fundraising page for eligible people to donate in crypto using the Coinbase Commerce product. The move comes weeks after Trump declared himself crypto’s candidate at a Mar-a-Lago gala that thrust crypto into the 2024 campaign. The website featured Bitcoin, Ether, Dogecoin, Shiba Inu, XRP, USD Coin, Solana and ZRX logos. Source 4️⃣ BlackRock's Spot Bitcoin ETF Records Biggest Inflows Since April as BTC Hovers at $70K 🔼 On Tuesday, BlackRock’s IBIT product experienced a significant inflow of over $290 million. Notably, this marks IBIT’s highest one-day inflow this month and the highest since April.5. The inflows come as Bitcoin trades over the $70,000 level for the first time in a month. IBIT’s product page shows that its total holdings stand over $19 billion. Source 5️⃣ Hong Kong Orders Worldcoin To Cease Local Operations, Calls Iris Data Collection ‘Excessive’ ‼️ Hong Kong's privacy watchdog ‘The Office of the Privacy Commissioner for Personal Data’ (PCPD), has reportedly ordered Worldcoin to cease all operations in the region due to violations of local privacy regulations. It issued an enforcement notice requiring it to stop using iris-scanning devices. Worldcoin confirmed that it conducted facial and iris scan authentication on 8,302 people in HK. The PCPD deemed this "unnecessary and excessive." Worldcoin has faced similar challenges in other jurisdictions, including South Korea, Spain, and Portugal, over its collection of personal biometric data. The watchdog stated, Worldcoin would retain personal data for a maximum of 10 years for the purpose of training AI models for the user verification process. The PCPD considered that the retention period was too long and amounted to prolonged retention of personal data.

🔥 Rally Report 🔥 GALA The price of GALA has rallied by 18% in the past 24 hours. WHY?! ‼️ The Gala Games exploiter has reportedly returned 5,913 ETH (worth $22M) to the team. The team has since stated that it will use GalaSwap to convert this Ethereum back to GALA. This is likely the primary driver behind the rally. 🔥 Gala Games will also refund all affected users while voting on a proposition to burn 5B tokens and restore the original supply of GALA. If you want to buy or trade GALA, we have an exclusive $60K. COIN BUREAU DEALS.