Top crypto news on August 14, 2024 from the #Trusteeteam

? The number of BTC accumulated in spot Bitcoin-ETFs in the US is growing by an average of 37,510 coins ($2.2bn) every month. At this rate, they will overtake Satoshi Nakamoto's balance as early as Oct 2024. Bitcoin creator's approximate stock is estimated at 1.1m BTC.

? PumpFun updated its historical record — its daily revenue for 13 August was $5.33m. 15,952 meme-tokens were created on that day. And since the launch of the platform, 1.7m coins have been created.

? Cointelegraph calculated that playing casino a better chance of success than investing in memetokens — roulette has a 1:38 or 2.6% chance of winning, while the memo has a 1:833 or 0.12% chance of winning. At the same time, the winnings will be 60% less on average.

? A journalist submitted a request to the FBI about the identity of Satoshi Nakamoto — they replied that they could neither confirm nor deny the existence of records. He noted that this is how the agency responds to requests about people without US citizenship.

? According to rumours, BlackRock, the world's largest investment fund with $10 trillion in assets, may launch its own blockchain. It will probably be similar to Coinbase's Level 2 Base network.
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Top crypto news on August 13, 2024 from the #Trusteeteam

‼️ The National Bank of Ukraine plans to approve limits for P2P at the end of this week. The restrictions will apply to outgoing transfers — maximum 30 transactions per month up to UAH 100,000 in total.

? Mining company Marathon Digital will mark each mined BTC block with «Made in USA» in the blockchain hash. Earlier, Donald Trump said that all remaining Bitcoin should be mined in the US.

?? Singapore's largest bank, DBS Bank, has launched its first project on blockchain. It aims to simplify payments with Ant International and speed up the transfer of funds «from potentially days to seconds».

? Three Arrows Capital, which went bankrupt following the crash of UST (the Terra ecosystem stablecoin), has sued Terraform Labs for $1.3bn in damages. Between April and May 2022, the value of the fund's portfolio in LUNA tokens fell from $462 millions to $2,700.

? Ex-CEO of BitMex Arthur Hayes has published a new essay. In it, he said that an important factor for Bitcoin growth is dollar liquidity. According to him, by the end of 2024, the US Treasury Department will issue $301bn worth of promissory notes, which will affect BTC.
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Top crypto news on August 12, 2024 from the #Trusteeteam

? El Salvador has announced it has received $1.6bn to build Bitcoin City, the largest private investment in the country's history. The funds were provided by Turkish holding firm Yilport. Meanwhile, the government has only 5,840 BTC ($345 million) on its balance today.

? Morgan Stanley could come under the «largest ever scrutiny» by US regulators over allowing 15,000 of its brokers to offer spot Bitcoin funds to large clients. Brokers started offering ETF share a week ago.

⛑ Venture funds investing in the decentralised exchange Uniswap (Andreessen Horowitz and Union Square) have received letters from the SEC. Regulators may accuse DEX Uniswap of not having a licence.

? Tether CEO Paolo Ardoino said the MiCA bill poses an «incredibly large systemic risk» to stablecoins and the entire banking system, as it mandates that at least 60% of reserves be held in European banks.

?? Thailand's SEC announced the launch of a «regulatory sandbox» for experimenting with cryptocurrencies. It aims to help develop exchanges, custodial wallets teams and other industry participants.
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Top crypto news on August 07, 2024 from the #Trusteeteam

‼️ #CryptoQuant believes Bitcoin whales are gearing up for a new bull rally — they bought up 404,448 BTC in a month. CEO Ki Young Ju said that large corporations or even national governments may announce investments in first cryptocurrency as early as Q3 2024.

? Binance will list Toncoin (TON) and open trading for spot pairs as early as today at 10:00 UTC. It will receive a Seed Tag, which indicates a higher risk and volatility. Upon announcement TON's rate is up 9%.

? K33 Research believes that the day the crypto market crashed, the 5th of August, was the most volatile day since the FTX crash in November 2022. In their opinion, the BTC exchange rate will stay in the range of $50,000-$58,000 in the near future. BTC now it's $57,100.

? David Plouffe, an advisor and ex-employee of exchange Binance, has joined the team of presidential candidate Kamala Harris. He has spoken out in the past about for rules to regulate cryptocurrencies.

⛑ A New York court approved a $12.7bn compensation agreement between the FTX and the CFTC. The regulator did not impose a fine, directing the entire amount to pay the creditors of crypto exchange.
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Top crypto news on August 06, 2024 from the #Trusteeteam

‼️ The Fear and Greed Index has dropped to 17 points — the level of extreme fear. The last time this happened was in July 2022 after the Terra collapse and the $20,000 BTC exchange rate. Today, after falling to $49,700, BTC has recovered 14% and is trading at $56,800.

? Eleanor Terrett from Fox Business reported that Kamala Harris' representatives will meet with cryptocurrency leaders tomorrow, on 8 August. Their goal is to repair relations with the crypto community.

⛑ India's regulator has accused Binance of evading $86m in taxes — from 2017 to 2024. Meanwhile, the market's fall triggered the highest trading volume on the exchange — $32.2bn on the spot and $13.4bn in the derivatives market. Record net daily inflow is $1.2bn.

? After the cryptomarket crash, the twenty largest meme projects rose in value by 20% or more, regaining previously lost ground. For example, BONK rose by 21%, Trump (MAGA) by 30%, PEPE by 26%.

? US senators have sent a letter to the #CFTC urging the regulator to ban political betting. Earlier, trading volume on betting service Polymarket reached $1bn over four years — 35% of which came in July 2024, thanks to the hype surrounding the presidential election.
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Top crypto news on August 05, 2024 from the #Trusteeteam

‼️ Yesterday, the #BTC rate fell below $50,000 — it is now equal to $55,800. #Ethereum fell by 21%, #Solana by 19%, the crypto market capitalisation — below $2 trillion. On average, the fall was 10%-25%.

? The reasons for such a fall include strong correlation with stock markets (which have been falling since last week), weak dynamics of ETFs on BTC and ETH, pressure from MtGox, and so on. The most common reason is the sale of assets of a major player Jump Trading.

⛑ Jump Trading is selling off assets — it has withdrawn 105,066 ETH worth $262m to the CEX. Cake's CEO believes that the reason for this may be a lack of liquidity or an attempt to exit the crypto market.

? Peter Brandt stated that the correction is in line with the post-halving 2016-2017 dynamics. Glassnode previously calculated the average number of corrections in all previous «bull» cycles — 9 times 5%-20%, 3 drawdowns between 20-40% and one between 40-70%.
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Top crypto news on August 01, 2024 from the #Trusteeteam

? #Tether (USDT) reported record profits — it made $5.2bn in H1 2024. The firm's capital rose to $11.9 billions. Reserves in US treasury bonds equal $97 billions, more than Germany, UAE and Australia.

? TV host Tucker Carlson believes the CIA is behind the creation of #Bitcoin. That said, BTC is the «world's best» tool for financial sovereignty, and the involvement of US intelligence agencies «doesn't make it any less significant for technology transformation».

? Since launching in January 2024, 1,567,948 meme tokens have already been created on the Pump Fun platform on #Solana. Pump Fun's daily revenue has already surpassed the Ethereum net twice.

? The #Notcoin team has launched Lost Dogs, a new clicker-based game that has become a launchpad for new projects. The game will last 30 days and will offer rewards to players in NFT, NOT and WOOF.

? Reality Labs, the developers of the meta universe from #Meta, lost $4.5bn in Q2 2024, while the revenue of the entire Meta was $39bn. Losses from the metaverse have reached $60bn in 3 years.
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Top crypto news on July 31, 2024 from the #Trusteeteam

‼️ CEO Cantor Fitzgerald (Circle's partner) stated that in 2022, FTX crypto exchange head Sam Bankman-Fried (sentenced to 25 years) and Circle tried to «destroy» Tether (Circle's competitor) — through the recovery of #USDT 10bn in a short period of time when BTC fell.

? The Terra team shut down the #Phoenix-1 net for an emergency patch — the exploit resulted in 5.2 million in assets being withdrawn. Phoenix-1 was launched in May 2022, following the #TerraUST crash.

? #Circle, the USDC stablecoin issuer, is preparing for an #IPO. According to the rate of securities on the secondary market, the company is valued at about $5bn. Interestingly, Circle tried to enter the stock market in 2022 — then its valuation exceeded $9 billions.

? According to #Cyvers, 70% of all hacks come from centralised services. Meanwhile, losses from smart contract vulnerabilities have fallen 92%, from $2.6bn to $179m in one year. Since the beginning of 2024, crypto industry losses have reached $1.19 billions (149 cases).

? «This is a radical new approach to launching a blockchain in the modular era»: the Lava Network team announced the launch of the core network and airdrop for 55 million #LAVA among 70,000 users.
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Top crypto news on July 30, 2024 from the #Trusteeteam

⛑ The SEC amended its case against Binance by removing the item recognising #Solana (SOL) as a security. The SEC received a lawsuit seeking to prohibit the regulator from supervising the #NFT-sphere.

? Monthly trading volume on decentralised exchanges (DEX) rose to an all-time high of $139.7 billion — $48.52bn of which on Uniswap. The share of #DEX relative to centralised exchanges rose to 14.22%.

? Two weeks ago, the #WazirX exchange was hacked for $230m (45% of funds). Its CEO offered options for a solution: trial, which will take years or «socialise loss»: withdraw 55% with no return of 45% or access to 55% without withdrawal but with a chance for a refund.

? Total trading volume on betting service Polymarket has reached $1bn since launching in autumn 2020 — 35% of which came in July 2024, thanks to the hype surrounding the US presidential election.

? According to CryptoQuant, while private miners and mid-sized businesses are selling off inventory after halving and falling profits, large mining pools and companies continue to accumulate #Bitcoin.
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Top crypto news on July 25, 2024 from the #Trusteeteam

‼️ Senator Cynthia Lummis is preparing to introduce new draft law to launch a US #BTC reserve fund at the Bitcoin 2024 conference. Her announcement is expected just before Donald Trump's speech.

? Hashdex has applied to launch a spot ETF based on two assets — #BTC and #ETH. Earlier, ETF Store said that combined ETF based on three assets at once (BTC, ETH and #SOL) may soon be approved.

? VanEck believes that by 2050, the #Bitcoin exchange rate will rise to $2.9m per 1 BTC and its capitalisation will reach $61 trillion, with Bitcoin settlement taking up 10% of international and 5% of domestic trading and central banks holding 2.5% of funds in #BTC.

? 10x Research believes that Ethereum sales after the #ETF launch are repeating the Bitcoin-ETF pattern. Which, unlike BTC, suggests uncertainty about the asset and further decline in the coin's price.

? Bitcoin's mainnet has launched the first proof-of-concept-based protocol with zero disclosure. BitcoinOS allows rollups, dapps and DAOs to be deployed on the #Bitcoin network «no softfork required».
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