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CryptoPunks face backlash while DMarket leads NFT sales The top-ranking non-fungible token collection for Monday was DMarket, which recorded sales of US$742,104, with 4,016 unique buyers and 3,648 sellers engaging in 34,740 transactions. The second-ranking collection of the day, Fantasy Top, experienced a big daily sales dip to US$682,369 from the previous day’s US$1.80 million, according to CryptoSlam’s NFT rankings.

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Bitfinity Integrates EVM for Bitcoin DeFi with Runes Bitfinity, a layer 2 Bitcoin protocol operating over the Internet Computer (ICP), has Deployed EVM to allow for the transaction of smart contracts and DefI apps on Bitcoin through Runes. Bitfinity EVM allows the developers to deploy BTC-centered Solidity smart contracts so they can transmit BTC, Ordinal, or Runes. This integration is to capitalize on the new Bitcoin protocol called Runes that enables the minting of fungible tokens on the Bitcoin blockchain.

Coinbase's Base could make it the NVIDIA of DeFi Coinbase’s first-quarter earnings report — released May 2 — indicated the company has been thriving thanks to a vibrant market for Bitcoin and Ethereum over the last several months. However, the numbers indicated Base platform has shown even greater potential — and could make Coinbase the NVIDIA of decentralized finance (DeFi). Launched in August 2023, Base is a secure, low-cost Ethereum layer-2 solution built to scale Coinbase’s user base on-chain to make transactions faster.

Block Is Buying Bitcoin Every Month for Its Balance Sheet Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around the world to participate in a global monetary system and secure their own financial future,” the company stated.

DeFi DAO introduces permissionless listings with AI enhancement Ooki, a decentralized finance DAO, innovates by combining artificial intelligence and permissionless listings. The decentralized finance (DeFi) space is crowded with thousands of tokens with varying use cases, while coins with new utilities emerge occasionally. While enriching the DeFi ecosystem with diverse investment options, this proliferation of tokens also introduces a significant challenge for users.

SEC asks for comments on BlackRock's amended spot Ethereum ETF proposal The U.S. Securities and Exchange Commission is asking for public comments on changes made to BlackRock's proposed spot Ethereum exchange-traded fund. The world's largest asset manager is vying along with others for a spot Ethereum ETF, though optimism that one could get the SEC's greenlight in the next month has diminished. BlackRock filed for its spot Ethereum ETF in November 2023.

IRS Previews Potential Form 1099-DA for Reporting Brokered Sales of Digital Assets The U.S. Internal Revenue Service has previewed a draft tax form, 1099-DA, for crypto investors to report taxable gains or losses from brokered digital asset transactions. The form includes individual token codes, spaces for wallet addresses, and instructions on finding transactions on the blockchain. Cryptocurrency businesses are concerned about how the IRS will identify brokers required to comply with the new system. The final rule is expected to be completed this year.

MarginFi outflows $190M as CEO rage quits amid token controversy Nearly $200 million of user funds have exited Solana-based lending protocol MarginFi over the last two days amid an abrupt resignation of the platform’s CEO and followed by accusations of wrongdoing from its competitors. On April 10, the now-former CEO of MarginFi, Edgar Pavlovsky, suddenly announced he had resigned from MarginFi, citing disputes that had arisen from both within his firm and from outside of it.

Nansen exposes Arkham’s dubious $55m transfers in ARKM via Binance Blockchain forensics firm Nansen has uncovered Arkham’s shady $55 million transfers in ARKM, suggesting potential sales on Binance. Arkham Intelligence, a blockchain deanonymization platform backed by Binance and others, has found itself in hot water after its rival Nansen revealed that Arkham sent over $55 million in ARKM tokens to unlabeled addresses, which then allegedly sold the tokens on Binance. In an X thread on Apr. 4, Nansen wrote that Arkham had moved over 25.2 million ARKM tokens over the past few days, with most of the funds gone to “wallets unlabeled on their platform, where a significant portion has moved to Binance.” Among the recipients, two addresses sent over 2.6 million ARKM tokens directly to a Binance market-making address, Nansen said, adding that another two routed the funds through new addresses before eventually reaching a different Binance address, prompting intrigue over the complexity of the transfers. Nansen noted there are still remain 200,000 ARKM that have not yet been transferred to Binance, However, the possibility remains open, with recent activity suggesting a potential future move to the exchange, the firm added. Founded in 2020, Arkham Intelligence gained prominence for disclosing numerous crypto addresses, offering valuable insights to blockchain researchers. The platform secured funding from various investors, including Bedrock Capital, D1Ventures, Draper Associates, Sam Altman, and notably, Binance, which not only supported Arkham through its venture arm, Binance Labs but also assisted in raising $2.5 million via Binance Launchpad, the exchange’s crowdfunding platform for startups. As of press time, Arkham Intelligence made no public statements regarding the revelations, leaving uncertainties about whether the token sales originated from the Arkham team or its backers.

DeFi Protocol Cega's New Options Product Marries Gold, Ether to Offer Up to 83% Yield Decentralized finance (DeFi) projects are continuing to develop structured products, which offer decent returns, market exposure and protection from losses and were previously available only to institutional investors in traditional markets. Last week, derivatives protocol Cega unveiled Gold Rush, a basket options strategy involving the Ethereum blockchain's ether (ETH) token and Tether's gold-backed {{XAUT}} as underlying assets alongside a safety component that protects users' capital from a 30% drop in the assets' prices.

LAPD Recovers $6.9 Million Worth of Stolen Bitcoin Mining Rigs, Suspects in Custody The Los Angeles Police Department (LAPD) has apprehended three individuals following the theft of bitcoin mining equipment valued at $6.9 million. The Commercial Crimes Division’s Cargo Theft Unit announced the retrieval of all stolen items. The event first came to light through coverage by KTLA, with local journalist Josh DuBose revealing the identities of the accused as 47-year-old Vardan Vardanyan, 36-year-old Vagarshak Vardanyan, and 34-year-old Samvel Pilovan.

MicroStrategy now holds over 1% of bitcoin's total supply after latest purchase Michael Saylor's MicroStrategy acquired 9,245 more bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC. With this latest purchase, the company now holds over 1% of the total bitcoin supply, comprising 21 million coins. MicroStrategy's latest acquisition took place between Mar. 11 and Mar. 18 at an average price of $67,382 per bitcoin, including fees and expenses, the business software company said Tuesday.

Solana's memecoin mania pushes on-chain volumes and fees to new highs The popularity of memecoin trading and speculation on Solana has pushed on-chain volumes — in U.S. dollar terms — to a new all-time high on Friday. Volume on Ethereum's foremost competitor exceeded $3.79 billion to end the work week, according to data from DefiLlama. The blockchain's previous all-time high volume was $2.85 billion — a figure set earlier this month. Saturday was close to Friday's all-time high.

Trump says he has no intention of stopping people from using Bitcoin Former US President Donald Trump said that Bitcoin is an “additional form of currency” that has “taken on a life” of its own, and he has no intention of stopping people from using it. Trump made the statement during an interview on CNBC’s Squawk Box on March 11. His comments come amid a backdrop of growing interest in crypto as Bitcoin has once again entered price discovery mode after setting a new all-time high.

NFT Market Flourishes With an 11.62% Rise This Week Sales of Non-fungible tokens (NFTs) have witnessed a notable uptick this past week, climbing 11.62% to hit $442.02 million over the previous seven days. The most significant transaction was the sale of the ‘Alien’ Cryptopunk #3,100, donning a headband, for $16 million, with Bitcoin-based NFTs claiming the lead in sales volume across 22 different blockchains.

Wall Street Grapples with Crypto Custody: Nasdaq's Decision Sparks Activity A decision by the Nasdaq stock exchange to shelf its plans to launch a crypto custody service has led other US firms to also reconsider their planned push into crypto. Following the Nasdaq news, major investment bank Citigroup is now also taking time to rethink its approach to crypto, with Bloomberg reporting on Monday that the bank is “reviewing its partnership” with Swiss crypto custody software provider Metaco. At the same time, State Street, another major US asset manager, has axed its deal with the London-based crypto custody provider Copper Technologies, Bloomberg said. As with Nasdaq’s decision to move away from crypto, regulatory uncertainty in the US is believed to be a major reason for the firms to distance themselves from the nascent industry. However, some things are also moving forward in the relationships between traditional finance and crypto-native firms. In Europe, French banking giant Societe Generale has been granted a license by the country’s regulator that will allow it to offer crypto custody services.

Russia's FATF Rating Downgraded Over Crypto Regulation Shortfalls The Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance.

Bitcoin network congestion eases as mempool clears in February Bitcoin’s mempool is a holding area for transactions broadcast to the network but not yet included in a block. Analyzing the mempool provides insight into network congestion, transaction demand, and fee trends, offering a unique vantage point on the state of the Bitcoin ecosystem. Bitcoin network experienced significant congestion, as evidenced by the swelling size of the mempool. In mid-December, the mempool contained 117,813 transactions waiting to be processed, and transaction fees totaling 50.9 BTC.

Bitcoin miner Riot Platforms generated record $281 million total revenue in 2023 Bitcoin mining and data center hosting firm Riot Platforms generated record total revenue in 2023, according to its annual report for the year ending 31 Dec. filed today. Riot’s total revenue rose 8% from $259.2 million in 2022 to $280.7 million in 2023. Bitcoin mining revenue accounted for $189 million (67%) of the total revenue — up 20% from 2022 — driven by higher Bitcoin production and the rising price of Bitcoin, the company said.

💰 Bitcoin miner Riot Platforms generated record $281 million total revenue in 2023 Bitcoin mining and data center hosting firm Riot Platforms generated record total revenue in 2023, according to its annual report for the year ending 31 Dec. filed today. Riot’s total revenue rose 8% from $259.2 million in 2022 to $280.7 million in 2023. Bitcoin mining revenue accounted for $189 million (67%) of the total revenue — up 20% from 2022 — driven by higher Bitcoin production and the rising price of Bitcoin, the company said. Source https://t.me/Blockchain_Explained

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Bitwise Bitcoin ETF approved investment option for $30 billion advisor network Bitwise Bitcoin ETF Trust (BITB) was recently approved as an investment option for a $30 billion network of Registered Investment Advisors (RIAs). Bitwise CEO Hunter Horsley revealed this development via social media platform X (formerly Twitter) on Feb. 19, noting that advisors within the network are now authorized to allocate funds with BITB, typically ranging from 1% to 5%.

U.S. Regulators Do Have Some Control Over Stablecoin Tether: JPMorgan Tether’s (USDT) dominant position as the largest stablecoin is vulnerable due to its dependence on the American market and pending regulations, JPMorgan (JPM) said in a research report Thursday. Despite Tether not being based in the U.S., regulators are able to exert some control on the stablecoin issuer’s offshore usage through the Office of Foreign Assets Control (OFAC), the report said.

Bitcoin ETF market sees $631 million inflow in one day The Bitcoin ETF market exhibited a continued surge in net inflows on Feb. 13; the trading day saw a total positive net flow of $631 million across all providers, with a total net inflow of 12,736 BTC, according to BitMEX Research. BitMEX data shows that BlackRock IBIT marked a notable achievement with a huge $493 million influx, catapulting the BlackRock IBIT ETF to an impressive total of $4.6 billion. This surge also increased BlackRock’s Bitcoin holdings in ETF to 105k BTC.

Bitcoin Halving Report from Grayscale, the World’s Largest Digital Asset Manager: “This Time It Will Be Different” Grayscale, the world's largest digital asset manager, has published a report suggesting that the Bitcoin halving event, which will take place in April 2024, could be fundamentally different from previous ones due to significant on-chain activity and positive market structure updates. Faced with decreasing block reward revenue and high production costs, miners prepared by raising funds through equity/debt issuance and reserve sales.

How DOGE's Cult Status Keeps It Alive: The Retail Surge vs. the Whales' Worry A Downturn, Yet a Following Despite DOGE's recent dip in value, with a 23% drop from its December peak, the meme coin still has something to wag its tail about. The new year hasn't been kind either, with a 12% decline so far. But here's the twist: retail investors are still barking up this digital dog's tree. Retail Roars, Whales Watch While the big fish aren't biting, the little pups are flocking to DOGE. Over 413.8K new wallets have joined the pack in just two weeks, setting a record for this memecoin. The surge is especially noticeable among those holding between 0.001 and 1 coin. It seems DOGE's cult status is attracting a new wave of believers. Whale Woes But as we look beyond the retail frenzy, there's a hint of concern. The whales, those with over 1,000 coins, aren't joining the party just yet. Their lack of interest could be seen as a red flag for the long-term prospects of this digital canine. While DOGE may not be fetching headlines for its price performance lately, its loyal retail following and cult-like appeal keep it wagging its tail in the crypto world.

GameFi delivers Oasys Navi NFT gaming marketplace GameFi forms an exclusive partnership with Oasys and jointly delivers its Oasys Navi NFT gaming marketplace. This is the latest project that has been unsheathed by the two entities. The project will be responsible for organizing prime gaming-oriented NFT launches.  GameFi, on its part, will be backing INO and IDO campaigns that exist on the Oasys blockchain, as well as other fresh NFT projects. In the case of the uninitiated, GameFi is basically a Web3 platform, while Oasys is a well-known and respected Japanese gaming blockchain. According to the Head of Ecosystem Alliance at Oasys, Yas, they are looking forward to taking this partnership forward and making a difference to the overall Web3 gaming market as well as creating an atmosphere of all-inclusiveness where the whole gaming community is concerned. As a mark of commitment from their side, they have jointly come out with the Oasys Navi NFT marketplace.   As a part of their next plan of action, the two companies, GameFi, together with Oasys, will be involved with the deliverance of a beta version of an NFT marketplace. There will be a game dashboard and a mainnet launch which is in the offing. Collectively, the two entities will be delivering INOs, and features like tournaments will also be in the picture in the very near future.

Bitcoin ETF Notes 32K BTC Inflow Amid Whale Wallets’ Big Move https://coingape.com/bitcoin-etf-notes-32k-btc-inflow-whale-wallets-move/?utm_source=Telegram&utm_medium=coingex

NFT Artist Fewocious Reveals Upcoming Collection “Fewos” Non-fungible token (NFT) artist Fewocious said Wednesday he’s gearing up to release his upcoming digital art collection “Fewos.” The 20-year old artist posted a Tweet introducing the collection, stating the 20,000 unit series of profile-picture (PFP) NFTs will be available to mint in August. According to its website, Fewos are characters in Fewoworld, Fewocious’ Web3 universe of digital art. The three species of Fewo NFTs – Frankenstein, Misunderstood, and Humanoid – have their own unique artistic traits. There are no details on the price of the NFTs at this time. “From squiggly eyes, to linework bones, and everything in between, these creatures were born from the mind of FEWOCiOUS, with every trait hand drawn and then converted into beautiful 3D art,” the website explains. While the mint will open for public sale later in the summer, there will be a presale for holders of Fewocious’ previous Paint Drop collection, as well as holders of other Fewocious digital art tokens. The site specifies that each Fewo comes with a ERC-6551, meaning the token can transform into a wallet. The wallet will be used to claim a mint pass for FewoFashion, a collection of digital wearables and accessories. Fewocious, who’s real name is Victor Langlois, has risen to the ranks as one of the most successful NFT artists to date. In April 2022, Fewocious released the Paint Drop collection, in which he amassed $20 million in sales over the course of 24 hours. The following October, he collaborated with the David Bowie estate to release an animated NFT paired with a seven-foot tall physical sculpture that sold for $127,000.

OKX to enable Doginals, Atomicals, Stamps and Runes inscription standards OKX Wallet will integrate Bitcoin token standard, SRC-20 (Stamps), enabling users to view and transfer inscription standards," the company said in a statement. "In late February, OKX Wallet will integrate ARC-20 (Atomicals), DRC-20 (Doginals) and Runes. Also in late February, OKX Marketplace will integrate the DRC-20, ARC-20 and Runes standards, giving millions of users the ability to buy and sell DRC-20, ARC-20 and Runes inscriptions, with zero fees.

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Tesla Zooms Ahead, Maintains Stellar Bitcoin Holdings on its Balance Sheet! Revving up the electric car industry, Tesla's latest earnings report showcases a staggering $184 million in digital assets. Yes, we're talking about bitcoin! Holding onto its digital treasure steadfastly since Q4 2022, Tesla continues to embrace the crypto wave. As for dogecoin, it's a bit of a "small fry" in Tesla's digital vault. Unleashing his Tesla vision, Elon Musk declares, "Watch out, world - we're steering towards becoming the top player in the corporate arena!" Taking a wild ride, Tesla initially invested $1.5 billion in BTC, but a detour in 2022 saw a chunk sold off. Still, Musk hints at future road trips back into bitcoin town. Not just Tesla, Musk's other venture SpaceX is also strapping in on the bitcoin rocket. Must be something about reaching for the crypto moon! While Musk's gaze may wander through the crypto galaxy, his focus seems to be on building X, a next-gen fintech platform. The goal? Banking revolution! With Tesla's turbocharged balance sheet and Musk's gravitational crypto allure, one thing's for sure – the road to financial innovation has never looked more exhilarating!

The market is absorbing enormous selling pressure with little movement The volatility caused by the launch of spot Bitcoin ETFs in the U.S. has wiped over $115 billion off Bitcoin’s market cap. There has been a significant increase in realized losses in the week following the ETF launch, with short-term holders bearing the brunt of these losses. Significant outflows from Grayscale’s GBTC.

White & Case secures dismissal for Mango in cutting-edge metaverse art dispute Global law firm White & Case LLP has successfully represented Punto Fa, S.L., the company trading as Mango, the well-known Spanish fashion brand, in securing the dismissal of a lawsuit based on alleged breaches of intellectual property rights of pieces of art created by well-known Spanish artists. The claim was brought by Spanish entity Visual Entidad de Gestión de Artistas Plásticos (Vegap), which manages the intellectual property rights of more than 150,000 authors and artists globally.

​​South Korean regulators target Bithumb in new probe. The South Korean National Tax Service agency launches an investigation into Bithumb, according to local reports. South Korea-based cryptocurrency exchange Bithumb is under a “special tax investigation” by the country’s National Tax Service (NTS), according to local reports. On Jan. 10, tax agents reportedly raided the exchange’s headquarters in the country’s capital city, Seoul, as a part of a compliance investigation. Authorities are exploring the possibility of tax evasion by examining the domestic and international transactions of Bithumb Korea, Bithumb Holdings and its affiliates. The agents are also exploring possible tax evasion related to the ownership of Bithumb. The investigation was carried out by the 4th Bureau of Investigation of the Seoul Regional Tax Service, which specifically investigates “special tax investigations,” as opposed to standard ones. Bithumb was previously under a special tax investigation in 2018 by the NTS, through which it won roughly $64 million in income tax. This development comes after former Bitchumb chair Lee Jung-Hoon was acquitted on Jan. 3 of $70 million in fraud charges. On Dec. 30, just prior to the acquittal, Park Mo — an executive at the largest shareholder of Bithumb — was found dead. He was under investigation by local authorities for embezzlement and stock price manipulation. The executive’s death was the latest in a slew of crypto billionaires who died within a month of each other, including MakerDAO co-founder Nikolai Mushegian and Amber Group co-founder Tiantian Kullander, among others. Some in the community have pointed to the fact that they occurred around the same time a the fall of FTX. Regulators around the world have been keeping a close watch on the crypto industry in light of the turmoil, which has since plagued the space.