Coin Bureau Insider

🚨 New Video Alert!! 🚨 When the spot Bitcoin ETFs were approved at the start of the year, asset managers such as Blackrock were racing to get them on offer to their customers. Not all of them, though. One of the largest asset managers in the world, Vanguard, refused to offer this product to their investors, and continues to refuse to this day. Tim Buckley, Vanguard’s “current” CEO, has repeatedly shared his view that Bitcoin does not belong in any long-term portfolio. We say “current” in quotation marks, because Tim is now stepping down from the position, set to be replaced by Salim Ramji, an executive from none other than rival firm Blackrock. Given Blackrock’s relation to the spot Bitcoin ETFs, this has a lot of people speculating that Vanguard could change its stance on Bitcoin. Today, we’ll take a close look to try and determine the likelihood of that happening, and what impacts this would have on Vanguard, as well as the wider crypto market. Enjoy!!

🔔 MARKET MOVING NEWS! (02/06/24) 1️⃣ El Salvador's Pro-Bitcoin President Nayib Bukele Sworn In For Second Term 💸 Nayib Bukele, El Salvador’s pro-Bitcoin President, has been sworn in for another five-year presidential term after a landslide victory in February. The inauguration ceremony took place at the National Palace in San Salvador on June 1. Source 2️⃣ Ethena's 'Synthetic Dollar' USDe Crosses $3 Billion Supply Just Four Months After Launch 🪙 According to data from The Block, USDe, the synthetic dollar issued by Ethena Labs, has reached a supply of 3 billion tokens. Notably, the milestone comes just four months after its public launch in February. The Block reports that USDe’s supply has grown by $1 billion since April 5, when it last crossed the $2 billion threshold. It's now on track to challenge DAI as the largest algorithmic or decentralised stablecoin. In terms of overall stablecoin supply, USDe is in fourth place with a 3.3% share of the overall stablecoin market, far less than market leader Tether's dominant 57% position. Source 3️⃣ Uniswap Foundation Postpones Vote On Incentives ‼️ The Uniswap Foundation has postponed the highly anticipated vote on UNI staking and delegation rewards due to a concern raised by a stakeholder. The vote would have moved the DEX closer to activating its “fee switch” and giving incentives to UNI holders who staked and delegated their tokens. However, Erin Koen, the lead official overseeing the Uniswap DAO governance forum, has stated the proposed upgrade requires rigorous vetting due to its sensitive and irreversible nature, emphasising the importance of thorough scrutiny before proceeding. Source 4️⃣ MotoGP’s Gresini Racing Goes Crypto With New Fan Sponsorship Program 🏍 Gresini Racing has reportedly partnered with MotoGP Guru and Animoca Brands’ subsidiary SPORTPASS to launch a fan-powered motorsport sponsorship program. The initiative will allow MotoGP fans to purchase personal team sponsorship packages starting at 125 euros. The sponsorship packages will grant fans VIP Paddock Experiences at the 2024 Grand Prix events, name placement on the bikes and team websites, and exclusive events. Fans who own a team sponsorship package can also join Zoom calls with team members and custom merchandise and get a chance to win a Ducati Panigale V4S used by Marc Marquez. Source

🔥 Rally Report 🔥 NOTCOIN The price of NOT has rallied by 54% in the past 24 hours. WHY?! 📈 Notcoin dominates trading volumes and has reached the top 1-2 by volume on Binance, OKX, and Bybit today. 🕯 More than 50% of NOT’s trading volume over the past 24 hours comes from crypto exchange Binance. Specifically, the NOT/USDT pair saw more than $1B in trading volume and the NOT/TRY pair saw $139M in trading volume on Binance. If you want to buy or trade NOT, we have an exclusive $60K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days! 🔗 https://www.coinbureau.com/deals/trading/bybit-cb/ Looking for a Bybit guide?! 👇 📹 https://www.youtube.com/watch?v=YZV9mji7UQo

ARK Invest will no longer be a partner with 21Shares for a proposed spot Ethereum fund. 21Shares has filed an updated application for its Ethereum spot ETF S-1, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. However, 21Shares and ARK will continue to work together on the ARK 21Shares Bitcoin ETF and other existing futures products. Source

🔔 MARKET MOVING NEWS! (01/06/24) 1️⃣ Biden Vetoes Bill Overturning SAB 121, Says Standard 'Necessary' For Crypto Innovation ☄️ United States President Joe Biden has vetoed a bill that would have overruled the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121. The SAB 121 seeks to establish accounting standards for firms that custody crypto. Specifically, it directs financial institutions that custody crypto for customers to keep the assets on their own balance sheets. Critics of the guidance say it makes it too difficult for financial institutions to work with crypto companies. In a letter addressed to the U.S. House of Representatives, President Biden stated,

My Administration will not support measures that jeopardise the well-being of consumers and investors. Appropriate guardrails that protect consumers and investors are necessary to harness the potential benefits and opportunities of crypto-asset innovation.

Source 2️⃣ Tether Invests $150M In Jihan Wu’s Crypto Mining Firm Bitdeer 💰 Jihan Wu’s crypto mining firm Bitdeer is reportedly raising new capital from stablecoin issuer Tether. The report states that Tether has entered into a subscription agreement with Bitdeer to purchase up to $150 million worth of its shares in a private placement. The private placement includes 18,587,360 Class A ordinary shares and a warrant to purchase up to 5,000,000 additional shares at $10.00 per share. Bitdeer has already generated $100 million in gross proceeds from the share issuance and has the potential to raise an additional $50 million if the warrant is fully exercised. It plans to use the proceeds to fund its data center expansion and development of ASIC-based mining rigs. Source 3️⃣ Bybit Confirms Executive Shake-Up After Notcoin Deposit Delays ❓ Crypto exchange Bybit has confirmed reports that several executives have "changed roles" after a botched Notcoin (NOT) launch resulted in $23 million in compensation being sent to 320,000 users. News outlet Wu Blockchain initially reported that several of the exchange’s executives "voluntarily resigned" and that it has recruited new technical and spot managers. Addressing the report, a Bybit spokesperson stated,

We are aware of the recent news regarding our executive movements. Bybit regularly updates its organisational structure to align with our strategic goals. Together with the team, we made a joint commitment to placing the right people in the right roles. We prioritised customer interests and conducted a thorough internal review to enhance the customer experience for the future. This improvement led to some leadership role changes, which we believe are essential. The affected team members are not leaving the company but moved to take up other internal roles.

Source 4️⃣ Japanese Exchange DMM Loses $305M In Bitcoin Via Private Key Hack 🥶 DMM Bitcoin, a Japanese cryptocurrency exchange, has reportedly lost 48 billion yen ($305 million) worth of BTC due to a hack of its servers on May 30. The exchange confirmed the hack on its website and stated that all user deposits “will be fully guaranteed.” Spot buys on the platform have been temporarily restricted and yen withdrawals may face delays. Notably, this is the second largest cryptocurrency hack in the region, with Coincheck being hacked for 58 billion yen in 2018. Sources 5️⃣ Franklin Templeton Reveals Ethereum ETF Fee ▶️ According to Franklin Templeton’s updated S-1 filing with the Securities and Exchange Commission (SEC) on Friday, the Franklin Ethereum ETF will only charge customers 0.19% per year for holding Ether in their fund. The fund has also promised to waive all sponsor fees on its first $10 billion for the first six months after the fund goes live. Source 6️⃣ ARK Invest Ends Partnership With 21Shares On Ether ETF ‼️

🔥 Rally Report 🔥 JASMYCOIN The price of JASMY has rallied by 14% in the past 24 hours. WHY?! ☄️ Yesterday, Reuters reported that Apple CEO Tim Cook has agreed at the request of Japanese Prime Minister Fumio Kishida to put Japan's "My Number" identification card functions onto iPhones. 🔍 The rally seems to come from confusion among holders who believe this means the project has partnered with Apple. Notably, this all comes from a 2023 press release by the Japanese company Cyber Trust. In the release, the company explains that it is creating an “iTrust Identity Confirmation Service” which will use Jasmy’s blockchain. However, this ‘iTrust Identity Confirmation Service’ and the ‘My Number initiative’ by the Japanese government are completely different initiatives. If you want to buy or trade JASMY, we have an exclusive $60K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days! 🔗 https://www.coinbureau.com/deals/trading/bybit-cb/ Looking for a Bybit guide?! 👇 📹 https://www.youtube.com/watch?v=YZV9mji7UQo

🔔 MARKET MOVING NEWS! (31/05/24) 1️⃣ Terraform, Do Kwon Agree in Principle to Settle Fraud Case With SEC: Court Filing 🤝 According to a recent court filing, Terraform Labs and co-founder Do Kwon have reached a "settlement in principle" with the SEC regarding a fraud case. Notably, the settlement comes after the SEC sought a $5.3 billion penalty. The parties must file documentation in support of the settlement in front of Judge Jed S. Rakoff by June 12. However, Thursday's settlement news marks some resolution to just one of Do Kwon’s myriad legal battles. Kwon is currently out on bail in Montenegro and faces criminal charges in both the U.S. and South Korea. Source 2️⃣ New York Sets Customer Service Standards For Virtual Currency Entities ☄️ The New York State Department of Financial Services (DFS) has reportedly issued new guidance establishing customer service standards for DFS-regulated virtual currency entities (VCEs). Specifically, the new guidance requires cryptocurrency service providers to collect relevant data to assess whether they are resolving customer service requests and complaints in a timely and fair manner. This includes requirements such as having “Human customer service representatives” being available during business hours and customers being able to connect to voicemail during off hours. It also mandates that FAQs should be accessible to viewers who do not hold an account with the company. Customers should also be informed immediately if they are interacting with artificial intelligence rather than a human. Source 3️⃣ TRUMP Token Recovers From Nasty Dip After Donald Trump Guilty Verdict ▶️ TRUMP and other Donald Trump-linked memecoins experienced a fall in price yesterday after a jury found the former U.S. President guilty on 34 felony counts for falsifying business records. Specifically, the case, which will now move to sentencing, related to Trump concealing a hush money payment to adult entertainment star Stormy Daniels. However, the price of these tokens has since recovered after Trump made a statement maintaining his innocence and called the outcome of the trial a “disgrace.” Notably, he claimed the ruling was manipulated by the Biden administration “in order to wound or hurt a political opponent.” He also stated that the real trial is going to be “on November 5 by the people.” Source 4️⃣ Hong Kong Crypto Exchange Licence Applicants With Ties To Mainland China Withdraw From City 🔍 According to the website of Hong Kong’s Securities and Futures Commission (SFC), the local affiliates of major mainland China-linked crypto exchanges – including OKX, Gate.io, KuCoin, Binance and HTX (formerly Huobi) – have all withdrawn their applications for a virtual asset trading platform (VATP) licence in Hong Kong that were submitted over the past several months. The report cites “stringent regulatory requirements and an inability to serve mainland investors” as the reason for these global cryptocurrency exchanges exiting Hong Kong. Source 5️⃣ A16z Crypto Donates Additional $25 Million To Pro-Crypto Super PAC Fairshake 💰 Web3-focused crypto venture firm a16z Crypto has reportedly donated an additional $25 million to the pro-crypto federal super political action committee (PAC) Fairshake. Notably, the new contribution brings the firm's total donation to Fairshake "and related entities" to $47 million. Managing Partner Chris Dixon stated,

This contribution along with others from the industry will be used to further Fairshake’s mission of supporting candidates from both sides of the aisle to promote American entrepreneurs and recognize the need for clear rules of the road for digital assets. As an industry, we need to keep up the momentum and show that the U.S. can lead in creating the next wave of blockchain innovation.

Source

🔥 Rally Report 🔥 ARWEAVE The price of AR has rallied by 16% in the past 24 hours. WHY?! ‼️ AO Computer, a new network built on Arweave, has announced that it will launch its AO token on June 13. AO tokens will be fairly launched and can be minted by bridging to AO, holding AR, or building. ⚡️ The AO network is expected to create consistent demand for Arweave by serving as both a growth catalyst for Arweave and a new platform for app development. If you want to buy or trade AR, we have an exclusive $60K Airdrop Bonus Promo on ByBit as well as 0% maker fees for 30 days! 🔗 https://www.coinbureau.com/deals/trading/bybit-cb/ Looking for a Bybit guide?! 👇 📹 https://www.youtube.com/watch?v=YZV9mji7UQo