Coin Bureau Insider

🚨New Video Alert!!🚨

As everyone celebrates the success of the spot Bitcoin ETFs, the centralization risks arising from the involvement of asset managers has fallen by the wayside, and not just in terms of their BTC holdings.

Asset managers have also been aggressively investing in publicly traded Bitcoin mining companies. Meanwhile, more and more of Bitcoin’s hash rate is coming from these publicly traded miners.

If that wasn’t scary enough, firms affiliated with the ESG investment ideology have been making lists of influential Bitcoin developers, and some asset managers are even donating funds to Bitcoin devs.

What could go wrong? Watch until the end to find out…

Storm’s motion claims this ruling “makes clear that there is no deliberate action Mr. Storm could have taken here.” Adding that this lack of control renders the developer legally incapable of conspiring to commit money laundering.

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🔔 MARKET MOVING NEWS! (21/12/24)

1️⃣ Tether To Make $775 Million 'Strategic Investment' In Video-Sharing Platform Rumble 💰

Stablecoin issuer Tether reportedly made a “strategic investment” of $775 million into YouTube alternative platform Rumble. Coincidentally, the move comes after Rumble announced last month that it would allocate up to $20 million of its excess cash reserves to BTC.

Addressing the investment, Tether CEO Paolo Ardoino stated,

Tether deeply believes in the fundamental values of freedom of speech and financial freedom. Our strategic investment in Rumble greatly underscores Tether’s focus in supporting technology and companies that empower humans, delivering independence and resilience to our society. We truly love what Chris Pavlovski and his team built and we look forward to collaborate on a shared vision.

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2️⃣ Hawk Tuah Influencer Speaks Out After Memecoin Rug Pull Allegations ▶️

Haliey Welch, the influencer behind the viral “Hawk Tuah” meme, has posted for the first time in nearly two weeks on the social media platform X. For context, this is notable since Hailey’s inactivity on socials followed accusations that she pumped and dumped a memecoin on her fans. Notably, her recent return comes just a day after her team received a lawsuit alleging the memecoin HAWK violated federal securities laws. 

Haliey’s tweet states,

I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter.

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3️⃣ Restaking Protocol EigenLayer's Slashing Testnet Now Live ‼️

Restaking protocol EigenLayer’s slashing testnet reportedly went live yesterday. A mainnet launch is pending approval of the EigenLayer Improvement Protocol-002 (ELIP-002). The slashing upgrade seeks to introduce Unique Stake Allocation for node operators and Operator Sets for Actively Validated Services (AVS) on EigenLayer. Unique Stake Allocation lets restaking operators minimise slashing risks by designating portions of their staked funds as a “Unique Stake” subject to slashing from only one AVS. This protects the staked capital from unrelated tasks or Actively Validated Services.

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4️⃣ Luigi Mangione Lands in Same Jail as Diddy, Sam Bankman-Fried 🔒

Luigi Mangione, the suspect in the murder of UnitedHealth Group CEO Brian Thompson, is reportedly being housed at the Metropolitan Detention Center in Brooklyn. Notably, this is the same facility in which other high-profile inmates such as ex-FTX CEO Sam Bankman-Fried and music producer Sean “Diddy” Combs are being detained.

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5️⃣ Copper Withdraws UK Crypto Authorisation Bid in Strategy Shift 🔍

According to a Bloomberg report, crypto custodian Copper Technologies Ltd. has withdrawn its application to register with the UK’s Financial Conduct Authority (FCA). The firm, chaired by former UK Chancellor of the Exchequer Philip Hammond, announced that it would shift its focus to overseas hubs under its new chief executive officer, Amar Kuchinad. Its former CEO Dmitry Tokarev, who started the business in 2018, stepped down in October.

Amar Kuchinad stated,

Refining Copper’s global growth strategy has been my priority since joining, and this has necessitated key decisions on our direction and approach.

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6️⃣ Tornado Cash Dev Wants Charges Dropped Because Sanctions Deemed Illegal ❓

Tornado Cash co-founder Roman Storm has reportedly filed a motion to dismiss the charges brought against him relating to his role in creating the crypto mixing service. Specifically, Storm’s motion cites the Fifth Circuit’s recent ruling which held that the Treasury's Office of Foreign Assets Control (OFAC) overstepped its authority by sanctioning Tornado Cash’s immutable smart contracts. The ruling recognised that autonomous software that no one controls cannot be classified as property.

El Salvador’s National Bitcoin Office has announced that it had transferred over a million dollars worth of BTC to its Strategic Bitcoin Reserve. A website tracking these purchases shows that it had added 11 BTC to its holdings. Notably, the purchase comes just a day after the country struck a $1.4 billion deal with the International Monetary Fund that stipulated limits on dealing with the asset. Stacy Herbert, the head of El Salvador’s National Bitcoin Office, wrote on X that the country may even continue buying the cryptocurrency at an “accelerated pace” going forward.

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🔔 MARKET MOVING NEWS! (20/12/24)

1️⃣ Aptos Labs Co-Founder Mo Shaikh Steps Down As CEO 👀

Mohammad Shaikh, the co-founder and CEO of Aptos Labs, has reportedly resigned from his position to "start a new chapter." Shaikh stated that Avery Ching, the firm's co-founder and CTO, will now assume the CEO position "to drive the company into its next phase of growth."

Shaikh wrote,

Today I am stepping away from Aptos Labs to start a new chapter. One of my true passions lies in building companies from the ground up and we have done that at Aptos Labs by building a world-class team. I leave Aptos Labs with the utmost confidence in the team, and strongly believe the talent and drive of Aptos Labs will bring our collective vision to life in the near future.

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2️⃣ Bitcoin Miners MARA and Hut 8 Boost Their BTC Treasuries With Big Buys 💰

Bitcoin mining companies MARA (formerly Marathon Digital) and Hut 8 both announced substantial BTC purchases on Thursday. Specifically, MARA stated that it acquired 15,574 BTC for about $1.53 billion ($98,529 per BTC) using proceeds it raised from 0% convertible notes offering in November and December. This brings MARA total BTC holdings to 44,394 BTC, valued at $4.45 billion. As for Hut 8, the firm stated that it acquired 990 BTC for approximately $100 million. This brings the total BTC held in its strategic Bitcoin reserve to 10,096 BTC, valued at more than $1 billion as of Dec. 18.

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3️⃣ Investor Lawsuit Filed Against Hawk Tuah Memecoin Creators, Partners ▶️

Investors in the Hawk Tuah (HAWK) memecoin have reportedly filed a lawsuit against several entities involved in the launch. The lawsuit alleges that the defendants, namely the Tuah The Moon Foundation, OverHere Ltd, Clinton So, and Alex Larson Schultz, engaged in the promotion and sale of an unregistered securities offering. The complaint claims the pre-launch marketing efforts surrounding HAWK provided "reasonable expectation of profits," and the token's success relied on Welch and her project team's efforts. The complaint states that the twelve plaintiffs who invested in HAWK based on this promise, collectively experienced a financial loss of $151,000.

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4️⃣ Bitfinex Hacker Makes Plea From Prison for Rapper Wife ❓

Ilya Lichtenstein, the hacker currently serving a five-year prison sentence for stealing billions from crypto exchange Bitfinex, has reportedly made his first public comments since being sentenced. The statement, released as a video on social media, claims neither his wife Heather Morgan nor his father Eugene Lichtenstein were directly tied to the 2016 theft of 120,000 BTC.

Lichtenstein stated,

I planned and executed the Bitfinex heist entirely by myself. And I am the one who bears full responsibility for everything that has happened. Any allegations that my elderly and not-at-all tech-savvy father had any involvement in any hacking activity ever are completely false and frankly absurd […] While it is true that my wife pleaded guilty to laundering a small portion of the funds, she was in no way involved in the hack itself. In many ways my wife, who I love so, so much, is just another victim of my bad decisions.

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5️⃣ SEC Approves First Hybrid Bitcoin-Ethereum ETFs From Hashdex, Franklin Templeton ‼️

The United States Securities and Exchange Commission (SEC) has reportedly approved Hashdex and Franklin Templeton’s respective Bitcoin and Ether index exchange-traded funds (ETFs). Specifically, the SEC authorised Nasdaq to list the Hashdex Nasdaq Crypto Index US ETF and the Cboe BZX Exchange to list the Franklin Crypto Index ETF.  Senior Bloomberg ETF analyst Eric Balchunas expects the funds to launch in January with an approximate 80% Bitcoin and 20% Ethereum split.

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6️⃣ El Salvador Buys 11 BTC Only A Day After Reaching A Deal With IMF 💸

🚨New Video Alert!!🚨

After a string of disasters in the 2010s, Japan introduced some of the strictest crypto regulations in the world.

The result? Japan’s once-trailblazing crypto scene turned into a desert. Sky-high taxes and crippling restrictions on crypto companies caused the country to lose its lead.

However, our fellow crypto bros in Japan have been complaining loudly, and it looks like the government has listened. It looks poised to loosen the screws, and if it does, we could see an enormous amount of Japanese money flooding into the markets and pumping our bags.

If you’re holding crypto, this is a video you don’t want to miss.

🔔 MARKET MOVING NEWS! (19/12/24)

1️⃣ Bitcoin Drops Below $100,000 After Fed Chair Powell’s Comment Against BTC Reserve ▶️

The price of BTC experienced some volatility yesterday, with a short rally and subsequent dip following developments from the U.S. Federal Reserve. Specifically, the price of BTC initially ticked higher immediately after the U.S. Federal Reserve announced a 25-basis point rate cut to its benchmark policy rate on Wednesday. However, the press conference, which was held immediately after the rate cut, saw the price briefly dip below the $100,000 mark. Notably, U.S. Federal Reserve Chair Jerome Powell signalled there could be fewer rate cuts than initially planned in 2025. He also commented against forming a national BTC reserve. Powell stated that the central bank is not allowed to hold bitcoin and is "not looking for a law change," in response to a question on his view on the U.S. government bitcoin reserve.

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2️⃣ Deutsche Bank Builds L2 Blockchain On Ethereum ❓

According to a Bloomberg report, German Bank Deutsche Bank AG is developing its own Ethereum layer-2 blockchain as part of Project Dama 2, an asset-servicing pilot. Dama 2, which is part of the Monetary Authority of Singapore’s Project Guardian, is a collaboration with crypto firms Memento Blockchain Pte. and Interop Labs. It has been built using ZKsync technology to address compliance challenges associated with using public blockchains in regulated finance. The bank reportedly hopes to launch it as a minimum viable product next year, pending approval from regulators.

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3️⃣ Avara Founder Backs Proposal to Offboard Polygon Markets from Aave 🔍

Stani Kulechov, the founder and CEO of Avara (the parent entity for the suite of Aave companies), has reportedly backed a proposal to drop support for Polygon markets from the Aave platform. Kulechov’s backing follows controversy surrounding an early-stage Polygon Improvement Proposal (PIP) from Allez Labs and Morpho to use stablecoins in Polygon’s proof-of-stake Portal bridge to generate yield. Kulechov claimed that the suggested PIP posed an unacceptable safety risk to Aave due to the possibility of bridge exploits. He highlighted the effects of the $100-million Harmony Horizon bridge hack in June 2022 as an example of the dangers posed by bridge exploits.

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4️⃣ Coinbase Can Delist Wrapped Bitcoin Amid BiT Global Challenge, Judge Rules ‼️

A federal judge has reportedly ruled in favour of Coinbase in the exchange’s legal fight with Justin Sun’s BiT Global Digital Limited. For context, BiT Global Digital Limited sued Coinbase for over $1 billion alleging that Coinbase’s decision to delist Wrapped Bitcoin (wBTC) was aimed at promoting its own competing product, cbBTC. In the current instance, the judge denied BiT Global’s request for a temporary restraining order, noting that the Hong Kong-based firm failed to show an imminent and irreparable harm that would come from Coinbase’s plans to soon delist wBTC.

The judge told BiT Global’s attorney,

Ultimately, I have no evidence from you about what is to come. I will not stop Coinbase from delisting WBTC.”

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5️⃣ Kraken Unveils Ethereum Scaling Layer Ink Months Ahead Of Schedule ☄️

Crypto exchange Kraken has announced the mainnet launch of its Layer 2 blockchain ‘Ink.’ The company stated that the move comes “months ahead of schedule.” For context, the mainnet release had initially been targeted for early 2025. Ink is built using Optimism’s Superchain technology stack. This means it will be interoperable with other networks built using the OP Stack. Launch partners include projects like Curve, Frax, Gelato, and interoperability protocol LayerZero among others.

The company stated,

Ink is also progressing toward Stage 1 decentralization with permissionless fault proofs to enhance accountability in January, 2025. This will enable anyone to contest potentially invalid transactions and makes Ink more accountable to its community of users.

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🚨New Video Alert!!🚨

Crypto VCs have more success than most, and it’s not just because they have more money to play with. You see, while we’re all busy chasing the biggest narratives, crypto VCs are busy trying to find the next big thing.

That’s why keeping up to date with Crypto VCs can often reveal where the big money could be flowing into next. Well, great news! One of the most prolific Crypto VCs has just released an article that reveals which narratives they’ll be keeping a close eye on in 2025.

So today, we’ll summarise this article for you in simple terms, telling you what could be the next big thing, and even which cryptos could go interstellar as a result.

Enjoy!!

🔔 MARKET MOVING NEWS! (18/12/24)

1️⃣ Tether Invests In StablR To Promote Stablecoin Adoption In Europe ⚡️

Stablecoin issuer Tether is reportedly strengthening its presence in the European market by investing in Malta-based stablecoin provider StablR. The investment highlights Tether’s focus on the region, especially with the EU’s Markets in Crypto-Assets (MiCA) regulation coming into force later this month. StablR operates two stablecoin projects: the euro-backed StablR Euro (EURR) and the United States dollar-pegged StablR USD (USDR). As part of the recent investment, both EURR and USDR will utilise Tether’s tokenisation platform Hadron.

StablR CEO Gijs op de Weegh stated,

From the outset, StablR has been laser-focused on delivering unmatched compliance, liquidity, and flexibility for institutions and merchants. With the support of these new investors, that’s exactly what we’re delivering. This is a new era for stablecoins and StablR is very much at the helm.

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2️⃣ US Imposes Sanctions On North Korea’s Crypto Laundering Network ▶️

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has reportedly sanctioned two individuals and one entity for laundering cryptocurrencies for the North Korean Democratic People’s Republic of Korea (DPRK). According to the statement, OFAC worked closely with the government of the United Arab Emirates to impose sanctions on the individuals. Notably, the two sanctioned individuals Lu Huaying and Zhang Jian worked at Green Alpine Trading, a front company in the United Arab Emirates which allegedly served as a core component of the money laundering network. The company has also been designated as a sanctioned organisation alongside the individuals.

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3️⃣ Ohio Representative Derek Merrin Introduces Bill to Establish State Bitcoin Reserve 💸

Derek Merrin, an Ohio House of Representatives member, has reportedly introduced a bill that would authorise the state’s treasury to invest public funds in Bitcoin. This would make Ohio the third US state to do so in just over a month. The bill amends section 2981.12 and enacts section 135.146 of Ohio's Revised Code but does not mandate any specific Bitcoin purchases or portfolio allocations.

Merrin stated,

The U.S. Dollar is being rapidly devalued, and our State Treasurer should have the authority and flexibility to invest in Bitcoin when determining proper asset allocation. Ohio must embrace technology and protect tax dollars from eroding.

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4️⃣ Parody X Account Donates $69K To Charity After Gifted Memecoins Peak At $1M 💰

Richard E. Ptardio, a parody X account claiming to be a former trader, reportedly received 700 million Richard Ptardio (PTARDIO) tokens on Dec. 17. The gifted tokens, which were created on Pump.fun, reportedly reached a peak value of nearly $1 million earlier today. Shortly after the pump, the X account stated that he had no relation to the token creator and that he was selling the tokens to donate the entire proceeds of 313.4 SOL (worth $69,000) to the ‘Save the Children’ charity which funds education, health and other programs for children worldwide.

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5️⃣ Hong Kong's HashKey Group launches Ethereum Layer 2 HashKey Chain on mainnet ‼️

Hong Kong-based financial services provider HashKey Group has announced the mainnet launch of the HashKey Chain just eight months after first revealing plans to introduce its own Ethereum Layer 2 network. The firm claims that the HashKey Chain generated nearly 25 million transactions, 860,000 wallet addresses and achieved 400 transactions per second during the testnet phase. A total of 50 projects were reportedly deployed successfully, with 300,000 community members actively participating. HashKey Chain is part of the Superchain — a network of interoperable Layer 2 blockchains built using Optimism's OP Stack.

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🚨New Trading Channel Video🚨

Are we on the verge of the next Altcoin Season?

Dive into the final season spoiler where Mariano breaks down:
🥇Bitcoin dominance
📈RSI patterns, and the
🚦EXACT signs to watch for the next altcoin rally

Don’t miss the secret strategy to exit like a pro!👇

🚨New Video Alert!!🚨

After months of miserable price action and years of underperforming BTC, ETH has finally woken up. But with just days left until 2025, many are now asking how high ETH could go next year.

Will Vitalik’s coin sink or swim? Is $10k ETH programmed? Tune in to find out!👇

🔔 MARKET MOVING NEWS! (17/12/24)

1️⃣ MicroStrategy Acquires Another 15,350 BTC For $1.5 Billion 💸

According to a recent 8-K filing with the Securities and Exchange Commission, business intelligence firm MicroStrategy acquired an additional 15,350 BTC for approximately $1.5 billion at an average price of $100,386 per BTC between Dec. 9 and Dec. 15. The recent acquisition follows the sale of a further 3,884,712 MicroStrategy shares during the same period for the same amount. The recent BTC purchase brings MicroStrategy’s total holdings to 439,000 BTC (worth over $45 billion) and its average price of total holdings to $61,725 per BTC.

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2️⃣ Binance Faces Cease-and-Desist Over Its Listing of PNUT Meme Coin ❓

Mark Longo, the caretaker of the late internet-famous Peanut the Squirrel, has reportedly issued a cease-and-desist letter to cryptocurrency exchange Binance over its listing of the PNUT meme coin. Longo accused Binance of trademark infringement concerning its listing and promotion of the PNUT-themed memecoin. In his complaint, Longo noted he has been using the PNUT brand for educational and animal welfare initiatives since 2017. The cease-and-desist demands Binance immediately stop using the PNUT marks and mascot likeness, with any failure to do so potentially resulting in legal action, including penalties of up to $150,000 per infringement.

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3️⃣ Kraken And BitGo Will Help Distribute The First FTX Payments In 2025 🔍

In a Dec. 16 notice, FTX announced that its reorganisation plan will take effect on Jan. 3, 2025. This will see customers affected by FTX's collapse receiving bankruptcy distributions through Kraken and BitGo. FTX stated that the "initial distribution" is expected to happen within 60 days of the effective date. It also stated that other groups of customers expecting repayments “will be announced in due course.”

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4️⃣ NFT Collection CyberKongz Says It Has Received A Wells Notice From SEC ‼️

CyberKongz, a popular gaming-focused NFT collection, has reportedly been issued a Wells Notice by the U.S. Securities and Exchange Commission. For context, a Wells Notice is a form of communication from SEC staff that lets a firm know that the agency's staff may recommend an enforcement action against them. The NFT collection said the SEC's enforcement team brought up a "very concerning rhetoric that you can not have a token (ERC-20) in tandem with a blockchain game without registering it as a security."

CyberKongz stated,

It has become increasingly apparent that the current administration is trying to force their anti-crypto agenda at the last minute. We hope that the new administration puts an end to this unjustness on our industry, but until then we will fight for NFT projects on all chains.

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5️⃣ LastPass Threat Actor Steals $5.4M From Victims Just A Week Before Xmas 🥶

According to onchain sleuth ZachXBT, an estimated $5.36 million in crypto was stolen from over 40 wallet addresses in the latest exploit from attackers identified as the “LastPass threat actor.” ZachXBT noted that the hackers converted the stolen funds to ETH and transferred them to various instant exchanges. The security breach is said to have originated from the 2022 hacking incidents in the password manager service LastPass.

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6️⃣ Team Behind Blockchain-Powered AI16z Bot Partners With Stanford To Study Autonomous Crypto-AI Agents 🤝

Eliza Labs, the team behind the ai16z AI agent, is reportedly partnering with Stanford University to study how autonomous AI bots will integrate with the wider digital asset economy. The research will begin early next year at Stanford’s existing Future of Digital Currency Initiative and will use Eliza Labs’ open-source AI agent framework, dubbed Eliza, to “tackle fundamental questions about how AI agents can establish trust, coordinate actions, and make decisions within decentralised financial systems.” 

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