❓ Bitcoin’s price rally driven by manipulation, criminal acts, and inadequate regulation: ECB officials
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Bitcoin’s current price rally is unlikely to be driven by fundamental factors. Instead, it’s attributed to temporary and potentially unsustainable influences, including price manipulation, demand for illegal activities, and misguided regulations, said the European Central Bank (ECB) in a report published this week. “While the current rally is fueled by temporary factors, there are three structural reasons that may explain its seeming resilience: the ongoing manipulation of the “price” in an unregulated market without oversight and without fair value, the growing demand for the “currency of crime”, and shortcomings in the authorities’ judgments and measures,” the ECB wrote.
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Bitcoin’s current price rally is unlikely to be driven by fundamental factors. Instead, it’s attributed to temporary and potentially unsustainable influences, including price manipulation, demand for illegal activities, and misguided regulations, said the European Central Bank (ECB) in a report published this week. “While the current rally is fueled by temporary factors, there are three structural reasons that may explain its seeming resilience: the ongoing manipulation of the “price” in an unregulated market without oversight and without fair value, the growing demand for the “currency of crime”, and shortcomings in the authorities’ judgments and measures,” the ECB wrote.
🇺🇸 Donald Trump’s Cryptocurrency Portfolio Tops $5M, Thanks to $2.9M in Trump-Branded Tokens
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Just recently, the 45th President of the United States, Donald Trump, has expressed a neutral stance towards bitcoin, stating he could live with it “one way or the other.” Meanwhile, Trump’s holdings in crypto assets have seen a significant increase in value. A substantial portion of his digital wealth is currently in a digital currency aptly named TRUMP, a gesture from the developers of the crypto project who gifted the ex-president 579,281 tokens.
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Just recently, the 45th President of the United States, Donald Trump, has expressed a neutral stance towards bitcoin, stating he could live with it “one way or the other.” Meanwhile, Trump’s holdings in crypto assets have seen a significant increase in value. A substantial portion of his digital wealth is currently in a digital currency aptly named TRUMP, a gesture from the developers of the crypto project who gifted the ex-president 579,281 tokens.
🚀 Ethereum's Dencun Upgrade Officially Activated on all Testnets
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The Ethereum Foundation has announced the Dencun network upgrade is set to go live on the Ethereum mainnet. This comes after successful activation on all testnets. The upgrade, scheduled for March 13, 2024 at 13:55 UTC, requires node operators and stakers to update their software. This follows the Shapella upgrade and includes major changes like the introduction of ephemeral data blobs with EIP-4844, aimed at reducing L2 transaction fees. A community livestream will be available for those interested in following the event.
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The Ethereum Foundation has announced the Dencun network upgrade is set to go live on the Ethereum mainnet. This comes after successful activation on all testnets. The upgrade, scheduled for March 13, 2024 at 13:55 UTC, requires node operators and stakers to update their software. This follows the Shapella upgrade and includes major changes like the introduction of ephemeral data blobs with EIP-4844, aimed at reducing L2 transaction fees. A community livestream will be available for those interested in following the event.
🔥 Jeff Bezos Sparks Bitcoin Investment Rumors After Stock Liquidation
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The crypto world is buzzing with rumors that Jeff Bezos, the brains behind Amazon, might be stepping into Bitcoin investment. This speculation comes from Apollo co-founder Thomas Fahrer's suggestion on X (formerly Twitter) that Bezos's latest financial moves hint at a growing interest in BTC. Bezos's recent activities, including selling $8.5 billion of Amazon stock and dining with Bitcoin supporter Michael Saylor, are seen as potential signs of his entry into Bitcoin. Their dinner, attended by celebrities and business giants, has sparked conversations about Bezos’s possible investment in digital currency, especially with Saylor's known advocacy for Bitcoin.
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The crypto world is buzzing with rumors that Jeff Bezos, the brains behind Amazon, might be stepping into Bitcoin investment. This speculation comes from Apollo co-founder Thomas Fahrer's suggestion on X (formerly Twitter) that Bezos's latest financial moves hint at a growing interest in BTC. Bezos's recent activities, including selling $8.5 billion of Amazon stock and dining with Bitcoin supporter Michael Saylor, are seen as potential signs of his entry into Bitcoin. Their dinner, attended by celebrities and business giants, has sparked conversations about Bezos’s possible investment in digital currency, especially with Saylor's known advocacy for Bitcoin.
🇭🇺 Hungary considers allowing banks to offer Bitcoin and crypto services
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The Hungarian government has introduced draft legislation that would let banks, investment funds, and asset managers offer Bitcoin and other crypto services, according to a report from Bloomberg Law today. With this initiative, Hungary’s authorities seek to align the nation’s regulatory framework with relevant European Union legislation. Draft legislation is a preliminary version of a law that is still under development. It has been proposed but has not yet been officially enacted and put into effect.
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The Hungarian government has introduced draft legislation that would let banks, investment funds, and asset managers offer Bitcoin and other crypto services, according to a report from Bloomberg Law today. With this initiative, Hungary’s authorities seek to align the nation’s regulatory framework with relevant European Union legislation. Draft legislation is a preliminary version of a law that is still under development. It has been proposed but has not yet been officially enacted and put into effect.
🚀 Bitcoin Price Hitting Unprecedented Heights Globally, BTC Over $65K
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The recent price surge has led to a spike in liquidations of leveraged Bitcoin positions, particularly short positions. Bitcoin has once again captured the spotlight with its remarkable journey towards and beyond the $65,000 milestone, setting new records against the euro and pound and approaching its all-time high in US dollar terms.
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The recent price surge has led to a spike in liquidations of leveraged Bitcoin positions, particularly short positions. Bitcoin has once again captured the spotlight with its remarkable journey towards and beyond the $65,000 milestone, setting new records against the euro and pound and approaching its all-time high in US dollar terms.
💪 MicroStrategy Will Sell $ 600 Million of Private Notes and Buy Bitcoin with a Part of it
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According to breaking information, MicroStrategy today announced that, subject to market conditions and other factors, it will offer $600 million of aggregate principal convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. announced his plans. MicroStrategy plans to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes.
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According to breaking information, MicroStrategy today announced that, subject to market conditions and other factors, it will offer $600 million of aggregate principal convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. announced his plans. MicroStrategy plans to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes.
💵 BRICS Unveil Blockchain Payment System to Rival US Dollar
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The BRICS nations are actively working towards consolidating emerging economies to counterbalance developed Western powers’ political and financial dominance. As part of an accelerated effort to foster deeper ties and enhance economic cooperation, BRICS has unveiled plans for a blockchain-based payment system to further reduce reliance on the US dollar. The BRICS nations are developing a blockchain-based payment system to reduce member nations’ use of the dollar, according to the Russian news agency TASS. Kremlin aide Yury Ushakov stated that the payment system will use digital blockchain technologies to enable “cost-effective and free of politics” payments for all, including governments and “common people.” According to Ushakov, the blockchain-based payment network aims to increase the role of BRICS nations in the global financial system by boosting settlements in national currencies and strengthening correspondent banking networks. This would secure more international transactions outside the dollar’s sphere of influence.
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The BRICS nations are actively working towards consolidating emerging economies to counterbalance developed Western powers’ political and financial dominance. As part of an accelerated effort to foster deeper ties and enhance economic cooperation, BRICS has unveiled plans for a blockchain-based payment system to further reduce reliance on the US dollar. The BRICS nations are developing a blockchain-based payment system to reduce member nations’ use of the dollar, according to the Russian news agency TASS. Kremlin aide Yury Ushakov stated that the payment system will use digital blockchain technologies to enable “cost-effective and free of politics” payments for all, including governments and “common people.” According to Ushakov, the blockchain-based payment network aims to increase the role of BRICS nations in the global financial system by boosting settlements in national currencies and strengthening correspondent banking networks. This would secure more international transactions outside the dollar’s sphere of influence.
🚀 BREAKING: Bitcoin hits new ATH at 70k
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In a stunning display of market strength, Bitcoin has shattered its all-time high, soaring past the $70,000 mark. This remarkable rally has not only captivated the cryptocurrency community but has also drawn the attention of mainstream media and financial analysts worldwide. As we delve deeper into the factors propelling this unprecedented surge, several key elements emerge, painting a complex picture of scarcity, investment, and anticipation. Rumors have been circulating that Over-the-Counter (OTC) trading desks are experiencing a scarcity of Bitcoin, a situation that has been confirmed by data from Glassnode.com. OTC desks are pivotal for large-volume traders and institutional investors, offering a pathway to trade significant amounts of Bitcoin without directly impacting market prices. This scarcity is a telling sign of the increasing demand for Bitcoin, possibly indicating that large investors are bullish on the future of this digital asset.
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In a stunning display of market strength, Bitcoin has shattered its all-time high, soaring past the $70,000 mark. This remarkable rally has not only captivated the cryptocurrency community but has also drawn the attention of mainstream media and financial analysts worldwide. As we delve deeper into the factors propelling this unprecedented surge, several key elements emerge, painting a complex picture of scarcity, investment, and anticipation. Rumors have been circulating that Over-the-Counter (OTC) trading desks are experiencing a scarcity of Bitcoin, a situation that has been confirmed by data from Glassnode.com. OTC desks are pivotal for large-volume traders and institutional investors, offering a pathway to trade significant amounts of Bitcoin without directly impacting market prices. This scarcity is a telling sign of the increasing demand for Bitcoin, possibly indicating that large investors are bullish on the future of this digital asset.
📈 PEPE, SHIB and DOGE Rocket Up, Fueled by Ethereum’s Growth and ETF Speculation
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This surge is attributed to the ripple effects of Bitcoin and Ethereum’s growth, particularly as Ethereum approaches the $4,000 mark, a pinnacle last reached in December 2021. The increase in PEPE, DOGE, and SHIB’s value is seen as part of a broader trend where traders utilize meme coins as a speculative bet on the expansion of Ethereum, especially since the bullish momentum for ETH has been building since mid-January, fueled by the anticipation of a spot Exchange-Traded Fund (ETF) approval in the United States.
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This surge is attributed to the ripple effects of Bitcoin and Ethereum’s growth, particularly as Ethereum approaches the $4,000 mark, a pinnacle last reached in December 2021. The increase in PEPE, DOGE, and SHIB’s value is seen as part of a broader trend where traders utilize meme coins as a speculative bet on the expansion of Ethereum, especially since the bullish momentum for ETH has been building since mid-January, fueled by the anticipation of a spot Exchange-Traded Fund (ETF) approval in the United States.
📰 This Week In Crypto (CW10)
1. Cryptocurrencies recover after bitcoin pulls back from new record
2. SEC pushes back decision to open up options trading on spot Bitcoin ETFs
3. Leicestershire Police officer barred for lying about cryptocurrency
4. Pro-Bitcoin Senator Cynthia Lummis pushes stablecoin bill
🚀 Get your daily news summarized with CryptoExplorer AI
CW7 (last week)
1. Cryptocurrencies recover after bitcoin pulls back from new record
2. SEC pushes back decision to open up options trading on spot Bitcoin ETFs
3. Leicestershire Police officer barred for lying about cryptocurrency
4. Pro-Bitcoin Senator Cynthia Lummis pushes stablecoin bill
🚀 Get your daily news summarized with CryptoExplorer AI
CW7 (last week)
🇷🇺 Crypto firm moved $4.2m of assets to digital wallet linked to alleged Russian arms dealer
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A cryptocurrency firm transferred digital assets worth more than $4.2m to a crypto wallet belonging to a member of an alleged Russian arms-dealing network who was later hit with US sanctions, it can be revealed. Details of the transactions involving Copper Technologies raise questions about whether UK laws governing crypto have adapted quickly enough to keep pace with a rapidly evolving sector that has come under increasing scrutiny over the level of anonymity it can provide. Analysis of crypto records by the Guardian and the International Consortium of Investigative Journalists (ICIJ) highlights a connection between one of the most prominent cryptocurrency companies and Jonatan Zimenkov, an Israeli-born Russian national.
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A cryptocurrency firm transferred digital assets worth more than $4.2m to a crypto wallet belonging to a member of an alleged Russian arms-dealing network who was later hit with US sanctions, it can be revealed. Details of the transactions involving Copper Technologies raise questions about whether UK laws governing crypto have adapted quickly enough to keep pace with a rapidly evolving sector that has come under increasing scrutiny over the level of anonymity it can provide. Analysis of crypto records by the Guardian and the International Consortium of Investigative Journalists (ICIJ) highlights a connection between one of the most prominent cryptocurrency companies and Jonatan Zimenkov, an Israeli-born Russian national.
the Guardian
Crypto firm moved $4.2m of assets to digital wallet linked to alleged Russian arms dealer
Analysis shows link between Copper Technologies and Jonatan Zimenkov, who was later hit with US sanctions over Ukraine invasion
👊 Coinbase Fights SEC for Clear Crypto Rules in Court Appeal
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Coinbase is pushing back against the U.S. Securities and Exchange Commission's (SEC) refusal to create new regulations for the digital asset industry. On Monday, Coinbase's lawyers appealed to the Third Circuit Court of Appeals to reverse the SEC's decision and to order the agency to start developing rules. Coinbase accuses the SEC of trying to control the growing digital asset sector through enforcement rather than by setting clear regulations. The exchange claims the SEC unfairly denied its June 2022 request for rulemaking, leaving companies in a difficult situation.
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Coinbase is pushing back against the U.S. Securities and Exchange Commission's (SEC) refusal to create new regulations for the digital asset industry. On Monday, Coinbase's lawyers appealed to the Third Circuit Court of Appeals to reverse the SEC's decision and to order the agency to start developing rules. Coinbase accuses the SEC of trying to control the growing digital asset sector through enforcement rather than by setting clear regulations. The exchange claims the SEC unfairly denied its June 2022 request for rulemaking, leaving companies in a difficult situation.
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🛣 Binance's Former CEO Faces Travel Limits and Passport Confiscation Amid Legal Battle
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Changpeng Zhao, formerly leading Binance, must now relinquish his Canadian passport and stay within the US, as demanded by a court's updated bail terms. This change aims to ensure Zhao stays in the country while he awaits sentencing for violating financial secrecy laws. A U.S. judge, Richard Jones, has decided that a trusted third party will hold Zhao's passport, accompanying him for any essential travel within the U.S. Zhao is barred from obtaining new travel documents or passports without explicit court permission, following concerns from prosecutors about him possibly fleeing the country.
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Changpeng Zhao, formerly leading Binance, must now relinquish his Canadian passport and stay within the US, as demanded by a court's updated bail terms. This change aims to ensure Zhao stays in the country while he awaits sentencing for violating financial secrecy laws. A U.S. judge, Richard Jones, has decided that a trusted third party will hold Zhao's passport, accompanying him for any essential travel within the U.S. Zhao is barred from obtaining new travel documents or passports without explicit court permission, following concerns from prosecutors about him possibly fleeing the country.
📦 Fidelity Updates Ethereum Spot ETF Application to Include Staking
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According to breaking information, Fidelity has changed its previous Ethereum Spot ETF application to include the Staking feature. The staking feature in Ethereum was launched after the network switched to the Proof of Stake mechanism, and wallet owners who locked their coins were rewarded with ETH in return for ensuring the security of the network. It was known that the SEC was not very keen on this feature and that is why many Spot ETF applicant companies did not include this feature in their applications. Former Yahoo Finance reporter Zack Guzmán found the development interesting in his statement and commented as follows: “This development in the lifecycle of ETH ETFs seems strange to me. It sounds as if Fidelity would add something to justify denying approval of the ETH ETF by making a deal with Gensler's SEC. Does he play on the same team as traditional financial giants Gensler?”
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According to breaking information, Fidelity has changed its previous Ethereum Spot ETF application to include the Staking feature. The staking feature in Ethereum was launched after the network switched to the Proof of Stake mechanism, and wallet owners who locked their coins were rewarded with ETH in return for ensuring the security of the network. It was known that the SEC was not very keen on this feature and that is why many Spot ETF applicant companies did not include this feature in their applications. Former Yahoo Finance reporter Zack Guzmán found the development interesting in his statement and commented as follows: “This development in the lifecycle of ETH ETFs seems strange to me. It sounds as if Fidelity would add something to justify denying approval of the ETH ETF by making a deal with Gensler's SEC. Does he play on the same team as traditional financial giants Gensler?”
🚀 BlackRock is launching its first Ethereum-based tokenized fund
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In its latest foray into crypto, financial giant BlackRock has launched its first tokenized fund on the Ethereum blockchain. The BlackRock USD Institutional Digital Liquidity Fund, also known as BUIDL, is fully collateralized by cash, U.S. Treasury bills, and repurchase agreements. It provides qualified investors with an opportunity to earn U.S. dollar yields. BlackRock has partnered with Securitize as a transfer agent and tokenization platform, and BNY Mellon as the custodian of the fund’s assets. The fund’s ecosystem also includes Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks, which will provide infrastructure to the fund.
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In its latest foray into crypto, financial giant BlackRock has launched its first tokenized fund on the Ethereum blockchain. The BlackRock USD Institutional Digital Liquidity Fund, also known as BUIDL, is fully collateralized by cash, U.S. Treasury bills, and repurchase agreements. It provides qualified investors with an opportunity to earn U.S. dollar yields. BlackRock has partnered with Securitize as a transfer agent and tokenization platform, and BNY Mellon as the custodian of the fund’s assets. The fund’s ecosystem also includes Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks, which will provide infrastructure to the fund.
🇬🇧 Bitcoin and Ethereum ETNs to debut on London Stock Exchange in May
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The London Stock Exchange (LSE), home to leading blue-chip stocks, will debut Bitcoin and Ethereum exchange-traded notes (ETNs) on May 28, according to the exchange’s notice released today. The latest move comes after the exchange announced that it would start accepting applications for crypto ETNs in the second quarter of this year. Companies interested in listing their Bitcoin and Ethereum ETNs on the LSE’s new market can start submitting their applications on April 8, the LSE confirmed. With the set launch date, issuers will have time to meet listing requirements and prepare necessary documents, including a prospectus that needs approval from the Financial Conduct Authority (FCA), the LSE noted. The exchange’s goal is to allow the maximum number of issuers to participate on the first day.
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The London Stock Exchange (LSE), home to leading blue-chip stocks, will debut Bitcoin and Ethereum exchange-traded notes (ETNs) on May 28, according to the exchange’s notice released today. The latest move comes after the exchange announced that it would start accepting applications for crypto ETNs in the second quarter of this year. Companies interested in listing their Bitcoin and Ethereum ETNs on the LSE’s new market can start submitting their applications on April 8, the LSE confirmed. With the set launch date, issuers will have time to meet listing requirements and prepare necessary documents, including a prospectus that needs approval from the Financial Conduct Authority (FCA), the LSE noted. The exchange’s goal is to allow the maximum number of issuers to participate on the first day.
⚖️ US Department of Justice Sues Cryptocurrency Exchange KuCoin and Its Two Founders!
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The U.S. Department of Justice and the Commodity and Futures Trading Commission (CFTC) have charged and sued leading global cryptocurrency exchange KuCoin and two of its founders for violating the Bank Secrecy Act and Unlicensed Money Transmission. In its announcement, the US Department of Justice alleged that KuCoin and its co-founders Chun Gan and Ke Tang violated US Anti-Money Laundering Laws by making KuCoin one of the largest cryptocurrency exchanges in the world. At this point, Southern District of New York Attorney General Damian Williams and Acting Special Agent in Charge of the New York Homeland Security Investigations Field Office (“HSI”) Darren McCormack said that an indictment was filed against KuCoin and its founders Chun Gan and Ke Tang.
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The U.S. Department of Justice and the Commodity and Futures Trading Commission (CFTC) have charged and sued leading global cryptocurrency exchange KuCoin and two of its founders for violating the Bank Secrecy Act and Unlicensed Money Transmission. In its announcement, the US Department of Justice alleged that KuCoin and its co-founders Chun Gan and Ke Tang violated US Anti-Money Laundering Laws by making KuCoin one of the largest cryptocurrency exchanges in the world. At this point, Southern District of New York Attorney General Damian Williams and Acting Special Agent in Charge of the New York Homeland Security Investigations Field Office (“HSI”) Darren McCormack said that an indictment was filed against KuCoin and its founders Chun Gan and Ke Tang.
🚀 Can FET, AGIX, and OCEAN’s merger spark another AI season?
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If the proposal laid down by the Fetch.ai [FET], SingularityNET [AGIX], and Ocean Protocol [OCEAN] teams is successful, all three AI-themed tokens might become one. According to a Bloomberg report, the projects were nearing the finishing touches as they aim to create a decentralized platform. From the ongoing discussion, the ticker for the cryptocurrency would be “ASI” and it would have a diluted market cap of $7.5 billion. ASI stands for Superintelligence Alliance. Since the beginning of this cycle, cryptocurrencies with Artificial Intelligence fundamentals have performed well.
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If the proposal laid down by the Fetch.ai [FET], SingularityNET [AGIX], and Ocean Protocol [OCEAN] teams is successful, all three AI-themed tokens might become one. According to a Bloomberg report, the projects were nearing the finishing touches as they aim to create a decentralized platform. From the ongoing discussion, the ticker for the cryptocurrency would be “ASI” and it would have a diluted market cap of $7.5 billion. ASI stands for Superintelligence Alliance. Since the beginning of this cycle, cryptocurrencies with Artificial Intelligence fundamentals have performed well.
🛟 Consensys Urges The SEC To Recognize Ethereum’s Advanced Safeguards
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Consensys, a leading blockchain software technology company, has asked the U.S. Securities and Exchange Commission (SEC) to recognize the advanced safeguards inherent in Ethereum’s design. The company proposed this in response to the SEC’s request for comments on the potential approval of Ethereum ETF applications. In line with the applications, the SEC asked whether Ethereum’s Proof of Stake (PoS) raises “unique concerns” of fraud and manipulation that the agency should consider. Responding to the question, Consensys noted such concerns are wholly without merit. The blockchain company published a letter explaining how Ethereum’s PoS implementation meets and exceeds the security of Bitcoin’s Proof of Work (PoW). According to Consensys, Bitcoin’s PoW underlies Bitcoin-based ETFs that the SEC has already approved for trading.
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Consensys, a leading blockchain software technology company, has asked the U.S. Securities and Exchange Commission (SEC) to recognize the advanced safeguards inherent in Ethereum’s design. The company proposed this in response to the SEC’s request for comments on the potential approval of Ethereum ETF applications. In line with the applications, the SEC asked whether Ethereum’s Proof of Stake (PoS) raises “unique concerns” of fraud and manipulation that the agency should consider. Responding to the question, Consensys noted such concerns are wholly without merit. The blockchain company published a letter explaining how Ethereum’s PoS implementation meets and exceeds the security of Bitcoin’s Proof of Work (PoW). According to Consensys, Bitcoin’s PoW underlies Bitcoin-based ETFs that the SEC has already approved for trading.
