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🔔 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.

🚨 New Video Alert!! 🚨 Buy Now, Pay Later. It’s something you’ve probably seen on various checkout pages, and there’s a good chance you’ve used it yourself at some point. The idea is simple. You pay a small percentage of the cost upfront, and the remainder is split across a few small payments. A lot of people use this to break a purchase down into bite size chunks, allowing them to balance their finances out in a more affordable way. The thing is though, there’s a lot more to Buy Now Pay Later (or “BNPL”, as it’s often called) than meets the eye. Under the layer of convenience lies a real threat to the borrower, the retailer, and the wider economy. Heck, it could even become the black swan event that takes the markets by surprise. So, come with us as we dive into the BNPL craze - the good, the bad, and the downright ugly. And, as a bonus, we’ll even provide you with a few steps to avoid the need to use them in the first place.

5️⃣ Microsoft’s New ‘Black Mirror’ Recall Feature Records Everything You Do 🤖 Software giant Microsoft has launched a new feature called “Recall” for select Windows 11 PCs. Notably, the company stated that “recall” uses AI to keep a detailed log of user activity by storing local snapshots of everything the user does. This allows the program to remember and later find anything displayed on screen—including emails, websites, and applications. The new AI-powered feature will be available on Microsoft’s new line of “Copilot+ PCs.” The feature can also reportedly generate and refine AI images on-device using Cocreator, and translate over forty languages with Live Captions. Source 6️⃣ Fidelity Files Amended S-1 Registration Statement, Removing Staking Rewards From Prospective Ethereum ETF 🔍 Asset management giant Fidelity has reportedly filed an amended S-1 application with the United States Securities and Exchange Commission (SEC) for its spot Ether exchange-traded fund (ETF). Notably, the amended statement removed all language about staking, including staking rewards. The previous prospectus had said the fund intended to stake a portion of its assets with a staking provider, which would have generated staking rewards. Source

🔔 MARKET MOVING NEWS! (21/05/24) 1️⃣ Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources 📈 According to a CoinDesk report, the U.S. Securities and Exchange Commission (SEC) has asked aspiring ether exchange-traded fund exchanges to update their 19b-4 filings on an accelerated basis. Bloomberg ETF analysts Eric Balchunas and James Seyffart, have also confirmed “chatter” about the same. This has prompted the pair to raise their approval odds from 25% to 75%. Seyffart hinted that the investment vehicle was becoming an “increasingly political issue.” However, he also clarified that approved 19b-4s must be accompanied by signed-off S-1 registration statements for the spot Ether ETFs to launch. He said it could be weeks or even months for S-1s to be signed off, even if 19b-4s are approved this week. Source 2️⃣ Yuga Labs Halts CryptoPunks Project After ‘Woke’ Community Backlash 🔍 On May 20, the official CryptoPunks account announced a new NFT collection called Super Punk World. The collection featured 500 pieces of hybridised 3D sculptures, which it described as blurring the lines of race and gender. The pieces were created by New York-based painter Nina Abney and aimed to pay homage to “the irreverent, early-internet roots of the CryptoPunks project.” However, the project faced immediate backlash from collectors, including claims of “woke” artwork, sometimes accompanied by personal attacks on the artist. Yuga Labs CEO Greg Solano announced that the NFT company would “no longer touch” the CryptoPunks project. Instead, they plan to get Abney’s collection to those already supporting her work in the space. This means there may be a potential airdrop for SuperCoolWorld holders. Source 3️⃣ 'We Messed Up': Gala Games Confirms $240 Million Worth of Tokens Swiped via Exploit ‼️ The native token of Gala Games, GALA, experienced a sharp decline in price after an attacker minted and made off with 5 billion tokens (worth around $240 million at the time of the exploit) via the Gala smart contract. The attacker, which was identified as a Gala games admin address, managed to sell 600 million Gala tokens (worth $29M) on Uniswap without prior announcement or explanation from Gala Games representatives. Nearly two hours after the hack was spotted, Gala CEO Eric “Benefactor” Schiermeyer posted an update to the Gala Discord server confirming the exploit and explaining the situation. He stated,

We identified the compromise and within 45 minutes we secured and removed unauthorised access to the GALA contract. It's important to note our ETH contract for $GALA is secure and under the protection of a multi-sig wallet. It was never compromised. We messed up our internal controls... this shouldn't have happened and we are taking steps to ensure it doesn't ever again. We believe we have identified the culprit and we are currently working with the FBI, DOJ, and a network of international authorities.

Source 4️⃣ Alleged Owner of Darknet Narcotics Bazaar ‘Incognito Market’ Arrested in New York ❓ Federal prosecutors have reportedly arrested Rui-Siang Lin, a 23-year-old Taiwanese man they allege ran Incognito Market - one of the world's largest illegal online drug marketplaces, which they said facilitated more than $100 million in narcotics sales. Lin was arrested at New York’s John F. Kennedy Airport on Saturday and will be presented in front of a Southern District of New York (SDNY) magistrate judge today. Prosecutors state Lin operated Incognito Market under the pseudonym “Pharoah” and oversaw all of its operations, including employees, vendors and customers, and had “ultimate decision-making authority over every aspect of the multimillion-dollar operation” from its formation in October 2020 to its shutdown in March this year. He faces one count of engaging in a continuing criminal enterprise, one count of narcotics conspiracy, one count of money laundering, and one count of conspiracy to sell adulterated and misbranded medication. Source

🔥 Rally Report 🔥 LIDO DAO The price of LDO has rallied by 30% in the past 24 hours. WHY?! 📈 Part of a larger rally among Ethereum ecosystem projects as favourable regulatory developments have increased the likelihood of approval for Spot Ethereum ETFs. ‼️ Notably, sources have stated that the SEC is asking exchanges to update 19b-4 filings on an accelerated basis, suggesting potential progress toward spot Ether ETF approvals. If you want to buy or trade LDO, we have an exclusive $60K. ⚠️NOTE : COIN BUREAU DEALS is on and investors are already making much in this bull 🐂 Run, I advise you engage on this DEALS to increase your portfolio. The right time is Now. COIN BUREAU.

🚨 New Video Alert!! 🚨 It’s been an exciting week in the crypto market, and we’re here to break it all down for you. As you might have noticed, BTC rallied quite hard in response to the CPI and the spot Bitcoin ETF inflows. You may have also noticed that ETH is starting to wake up, at least relative to BTC. This is because the SEC is expected to decide about the spot Ethereum ETFs in the coming days, and it could be surprising. At the same time, it looks like both Tether and China have started printing money, which is supporting the crypto market for different reasons. Not surprisingly, last week’s top performing cryptos rallied hard. Be sure to stick around until the end to find out where they’re headed next!

🔔 MARKET MOVING NEWS! (20/05/24) 1️⃣ Crypto Exchange Kraken Has ‘No Plans’ To Delist USDT In Europe For Now 🔍 Mark Greenberg, Kraken’s global head of asset growth and management, recently made an X post confirming that the crypto exchange has “no plans” to delist Tether (USDT) in Europe for the time being. Notably, the statement follows a recent report claiming the firm was “actively reviewing” the decision to continue listing ‘USDT’ on its platform. Greenberg’s post reads, [Kraken] continues to list USDT in Europe and we have no plans to delist at this time. We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime. We will of course follow all legal requirements, even those we disagree with. But the rules are not finalized yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers. Source 2️⃣ Pump.Fun Exploiter Reportedly Arrested In London, Addresses Scandal In X Post 🤔 Jarrett Dunn (aka StaccOverflow on X), the former Pump.fun employee accused of being involved in the recent $1.9 million exploit of the Solana-based memecoin launchpad, has reportedly been arrested and released on bail in the United Kingdom. Dunn, posting from a separate X account, claimed that he "spent overnight in custody” and that he was charged with “theft from employer” for $2 million and conspiracy to steal an additional $80 million. In an attempt to fight back at the charges, Dunn has been calling for U.K. citizens to file charges against a company he identified as Pump.fun's corporate entity. Source 3️⃣ Ethereum Developer’s Paid Role at EigenLayer Sparks Debate On ‘Conflicted Incentives’ ‼️ Ethereum Foundation researcher Justin Drake recently disclosed that he had taken a paid adviser role at EigenFoundation. Drake disclosed that his paid adviser role at EigenFoundation “comes with a significant EIGEN token incentive” worth “millions of dollars.” He also noted that it was vested over three years and worth “more than the combined value of all [his] other assets.” Notably, this announcement was met with criticism on social media, with one commentator suggesting it could create “conflicted incentives.” Just a day earlier, crypto trader and UpOnly co-host Jordan Fish (aka Cobie), asked Ethereum co-founder Vitalik Buterin his thoughts on Ethereum Foundation staff “taking life-changing [monetary] packages” from projects that “may have conflicted incentives with Ethereum” — giving EigenLayer as a theoretical example.