Blockchain DXB

🚨 U.S. Treasury Isn’t Trying to Ban Crypto Mixers 💡PayPal PYUSD is now on Solana 💡Mastercard Launches “Crypto Credential”

🚨Consensys 2024

- The U.S. Department of the Treasury is not aiming to ban cryptocurrency mixers, according to Brian Nelson, the Under Secretary for Terrorism and Financial Intelligence. Instead, FinCEN’s 2023 proposal seeks to increase transparency by requiring crypto companies to report transactions involving mixers, which are often used to evade anti-money laundering regulations. Nelson emphasized the need for privacy tools that do not facilitate criminal activities and called for collaboration between the industry and the Treasury to enhance financial privacy without enabling illicit financing. Info via CoinDesk here https://tinyurl.com/2ta3u7rs

⚡ What is the difference between privacy and anonymity?

🚨 The U.S. Department of the Treasury has also released Illicit Finance Risk Assessment of Non-Fungible Tokens https://tinyurl.com/34ubu4db

The U.S. Treasury’s risk assessment highlights that NFTs are vulnerable to fraud, scams, and money laundering, though they are rarely used for terrorist financing. The assessment notes fluctuating NFT market trends and identifies regulatory gaps and cybersecurity issues. Current measures partially mitigate risks, and recommendations include enforcing regulations, raising awareness, and engaging with both the private sector and international partners to address these vulnerabilities.

💰 PayPal announced that its stablecoin, PayPal USD (PYUSD), is now available on the Solana blockchain, enhancing its speed and cost-effectiveness. Jose Fernandez da Ponte of PayPal emphasized that this move supports their goal of creating a stable digital currency for commerce. Sheraz Shere of the Solana Foundation highlighted that Solana’s speed and scalability make it ideal for innovative, accessible payment solutions. The announcement was made at Consensys 2024 by CoinDesk

🟣 Mastercards Crypto Credential has gone live with its first peer-to-peer transactions! This solution not only replaces complex wallet addresses with user-friendly aliases but also makes sending #blockchain transactions secure, transparent and accessible.

🟪 Crypto Credential” service allows users to create a simple username to send and receive cryptocurrencies via exchanges like Bit2Me, Lirium, and Mercado Bitcoin in Brazil, Argentina, and France. This service has launched its first peer-to-peer transactions, simplifying wallet addresses and enhancing the security, transparency, and accessibility of blockchain transactions. Via Twitter (x) post here https://tinyurl.com/5mrj6jz9

🟠Two UAE news (See slides)

⚡Saudi Ministry of Culture Launches 1st National Cultural Metaverse Platform in the World

⚡UAE’s MoIAT, EDB partners to launch AED370m of financing for AI Ministry of Industry & Advanced Technology | وزارة الصناعة والتكنولوجيا المتقدمة Emirates Development Bank (EDB)

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Bitcoin Power Dynamics:
💡 In early 2024, U.S. Bitcoin miners spent $2.7 billion on electricity, using 20,822.62 GWh of power. This energy could charge all U.S. electric vehicles 87.52 times or power 1.98 million households for a year. U.S. miners produced 44,102 BTC, or 37.84% of the global total of 116,550 BTC. Before the April halving, mining 1 BTC required 407,059.01 kWh ($52,144.26), but now it needs 862,635.55 kWh ($110,503.61). Info here https://lnkd.in/d7V6fUCN 

- It shows the cost of mining 1 BTC in the USA in 2024 
- It also shows daily power consumption mining Bitcoin by country. Kazakhstan (13.2%) is leading followed by Canada(6.5%) & Russia (4.7%) 

💡 The USA still produces 170.41 BTC per day, followed by China at 95.09 & Kazakhstan at 59.56

‼️Nikolaos Panigirtzoglou of J.P. Morgan doubts the SEC will approve ETFs for cryptocurrencies like Solana. He highlights the SEC’s view that most cryptocurrencies are securities as a major obstacle, noting that even the approval of ETH ETFs is contentious due to classification uncertainties. Info via The Block https://lnkd.in/dMDhvdhH This could all change if U.S. policymakers pass legislation declaring most cryptocurrencies as non-securities. Maybe a Dogecoin ETF? or Ripple ETF

💰 A federal judge ordered the SEC to pay approximately $1.8 million in fees related to its civil case against Digital Licensing (Debt Box). This includes about $1 million for attorney fees and $750,000 for receiver fees. The order was issued on May 28 in the U.S. District Court for the District of Utah, alongside the dismissal of the case without prejudice. via Cointelegraph here https://lnkd.in/dmH-NRfP 

🚨 Two USA news
⚡ UAE and France partner to advance global AI ecosystem
⚡ Elon Musk’s xAI raises $6bn from investors including Saudi Arabia’s Prince Alwaleed

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💡#30 BTC ETFs own over BTC 🚨 OKX withdraws HK License application 🟠Argentina to learn El Salvador BTC Adoption 🏦Bank-to-wallet Telegram extension.

🚨 Michael Saylor posted via Twitter (X) that 32 #Bitcoin Spot ETFs now hold 1 ~ Nakamoto of $BTC. Info here https://tinyurl.com/3fzs8rvk

- Grayscale Investments Bitcoin Trust (289,040 BTC)

- BlackRock’s iShares Bitcoin Trust (287,168 BTC)

- Fidelity Investments Wise Origin Bitcoin Trust (161,538 BTC)

- Ark 21Shares Bitcoin ETF (48,444 BTC),

- Bitwise Bitcoin ETF (36,185 BTC)

- Canada’s Purpose Bitcoin ETF (27,110 BTC)

💡Bullish or gives Millionaires & Billionaires to acquire more bitcoin?

🎙️ Check out Blockchain DXB’s Crypto & Coffee at 8 podcasts where we share our commentary on today’s news. We also share information about Smart contracts on CBDC & more

🟠 Argentine officials from the CNV met with counterparts from El Salvador’s CNAD to discuss Bitcoin regulation and adoption. They sought to learn from El Salvador’s experience, highlighting the country’s specific commission for digital assets. Both sides emphasized the importance of collaboration and strengthening ties. This follows a previous visit by Argentine officials to El Salvador for similar discussions. Info here https://tinyurl.com/mdt5zkuf

❗ Was El Savador’s move a success story though?

🏦 OKX HK has decided to withdraw its VASP license application in Hong Kong and will cease centralized virtual asset trading services for Hong Kong residents by May 31, 2024. customers can withdraw assets until August 31, 2024, after which direct withdrawals or transfers will not be possible. The remaining balances after this date will be treated as unclaimed property according to OKX’s terms of use. Blog here https://tinyurl.com/4nwsafzf

🔴 Sphere Labs, a blockchain developer, introduces a bank-to-wallet Telegram Messenger extension, enabling users to transfer funds between bank accounts and wallets within the Telegram app. The service offers a 0.1% fee per transaction for early users and is set to launch fully later this year after initial testing starting the week of May 27. While users from non-sanctioned countries can utilize the extension, they need to link it with a USD or euro-denominated bank account.

❗Important to note, that Telegram boasts an impressive 800 million monthly active users, with more than 52 million people using the platform daily.

🟠 Two UAE news

⚡ Dubai-based Metaverse company Everdome.io unveils its new digital theatre

⚡ Saudi and South Korea discuss cooperation on AI and smart cities

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🔴 President Trump on Crypto 🟣 Uniswap Foundation Reveals Assets, 🛑Crypto Mining News from Abu Dhabi 🟢 Ethereum Foundation to Eigen Layer — What’s Going on

❗ Make Crypto Great Again

From Ethereum ETF approval via the Fit21 bill, Former President Donald Trump’s impact can be seen in the crypto world. He has doubled down on his support for crypto. He stressed via Truth Social that the United States must lead the charge, arguing, “There is no second place.” His newly launched crypto donation portal, accepts eight cryptocurrencies, including Bitcoin, Ethereum, Shiba Inu, Dogecoin, USDC, Ripple, and 1inch.

💯 He has pledged to commute Silk Road founder Ross Ulbricht’s life sentence to time served if he’s re-elected president. “If you vote for me, on Day 1, I will commute the sentence of Ross Ulbricht to a sentence of time served,” Trump said during his Saturday night remarks at the Libertarian National Convention in Washington, D.C. “He’s already served 11 years, we’re gonna get him home

🔴 Trump Coin 🚀

- After former President Donald Trump’s appearance at the Libertarian National Convention, the meme coin associated with his name, MAGA (TRUMP), has surged over 30% in the past day. Recent statistics reveal that the TRUMP coin is the top-performing cryptocurrency over the last 12 months, with an astounding 98,352.40% increase. Info via Bitcoin.com here https://tinyurl.com/29sw4u2h

🟣 Uniswap Foundation mentioned via Twitter (X) Summary Q1’2024 Financials here https://tinyurl.com/yc647p7c As of March 31, 2024, the Uniswap Foundation had $41.41 million in USD and stablecoins for grants and operations, plus 0.73 million UNI for employee token awards. The foundation planned to use $25.77 million for grants in 2024–2025, $2.94 million for previously committed grants, and $12.7 million for operational expenses through the end of 2025.

🔴Crypto mining news from Abu Dhabi

- The Abu Dhabi Agriculture and Food Safety Authority ADAFSA issued an advisory to farmers, prohibiting crypto mining on farms due to potential electricity bill spikes. Adafsa stated that such activity is a misuse of farms and violators will face fines of up to Dh10,000. Info via Khaleej Times here https://tinyurl.com/bdf97mbb

🟢 The Ethereum Foundation is implementing a conflict of interest policy after researchers Justin Drake and Dankrad Feist took paid advisory roles at EigenLayer, raising concerns about neutrality and transparency. The community had mixed reactions, with some praising transparency and others skeptical. Executive Director Aya Miyaguchi acknowledged the need for formal policies to maintain trust and impartiality in Ethereum’s development. Check out Blockchain DXB podcast we explain the drama in detail

🟠 Two UAE news (See slides)

⚡ MANTRA Secures Strategic Investment from Nomura’s Laser Digital to Accelerate RWA Tokenization Initiatives in the Middle East and Asia

⚡ UAE and US to seal more AI deals, UAE minister says

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🟢 Ethereum ETF decision — Political move? 🔵🔴The White House & SEC oppose crypto-focused legislation ❗#BTC & #ETH ETP listed on London Stock Exchange👀SEC fines ICE + more

👁️23rd May! An Ethereum ETF decision will be made today by the U.S. Securities and Exchange Commission Will the approval be a political move to convince more voters from the swing state? BlackRock 19b-4 update is in.

🎙️ We discuss this & more in the Blockchain DXB episode today. We also explain 19b-4 for filing & S1 fillings We also explain Crypto Bill FIT21 by Rep Patrick MCHenry

🟢 Important to note that issuers are hoping to launch spot ether ETFs and are making clear to the SEC that they would not stake ETH held by the funds. Proposed ether ETFs, including those by Fidelity Investments, Franklin Templeton, ARK Investment Management LLC, Invesco US, and VanEck, have clarified in filings that they would not stake the ETH held by the funds. This clarification comes ahead of the SEC’s May 23 deadline to rule on an ether ETF proposal by VanEck.

🔷The White House Opposes Crypto Bill FIT21

🔷 The White House + SEC Chair Gary Gensler oppose the crypto-focused legislation. Statement on the Financial Innovation and Technology for the 21st Century Act can be found here https://tinyurl.com/4hsk8kxy Gensler cited a January Chainalysis report to support his claim that “widespread noncompliance [from crypto firms] has resulted in widespread fraud, bankruptcies, failures, and misconduct.”

❗ However, the analytics platform reported that revenue from illicit activities involving crypto was “down big” in 2023.

👀 WisdomTree has received approval from the Finance Conduct Authority UK to list crypto exchange-traded products (ETPs) on the LSE, making it one of the first applicants to receive such approval. The Physical Bitcoin and Physical Ethereum ETPs will be available to professional investors starting May 28, with fees of 35 basis points. The FCA had previously banned crypto derivatives products but adjusted its stance for professional investors.The listings follow the first approvals by FCA since it relaxed its stance on crypto ETPs, having banned them in 2020. Info via CoinDesk https://tinyurl.com/yc33vn8p

❗ SEC Charges Intercontinental Exchange and Nine Affiliates Including the New York Stock Exchange with Failing to Inform the Commission of a Cyber Intrusion. Official info here https://tinyurl.com/5n96p4bt The SEC fined Intercontinental Exchange, Inc. (ICE) $10 million for not promptly reporting a cyber intrusion in April 2021, as required by Regulation SCI.

🟠 Two UAE news (See slides)

⚡ Roads and Transport Authority & SmartCrowd Holding Ltd, Sign a memorandum to attract investments in non-fungible digital assets

⚡ Dubai to lead the world’s biggest AI prompt engineering training project

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22nd May: Crypto & Coffee at 8 
🟢Updates — Ethereum ETF 🔴Telegram Founder gets $6.8M Notcoin Central Bank of Brazil -crypto regulation in 2024❗ Bybit Reaches 30M users 

🟢 U.S. Securities and Exchange Commission asked Nasdaq, CBOE, and NYSE to update spot Ether ETF applications before a regulatory deadline. This could signal possible approval. ? Via Reuters https://lnkd.in/d9EtRbsA 

🟢 Bloomberg ETF analysts Eric Balchunas and James Seyffart, CFA, CAIA have noted “chatter” that the United States Securities and Exchange Commission (SEC) is urging applicants to expedite their 19b-4 filings. Consequently, the analysts have increased their approval odds from 25% to 75%. He mentioned it via Twitter . Now (X) UPDATE: Grayscale Investments just filed an updated 19b-4 for their Ethereum Mini Trust. We should see a bunch of these come in today. The initial 19b-4 for Grayscales mini Ethereum trust. It may not be included in the first wave of potential approvals.

🟢 Standard Chartered head of FX and digital assets research, Geoff Kendrick, said they are “80% to 90%” certain that the SEC will approve spot Ether ETFs later this week.

🟢 Fidelity Investments has also reportedly amended its Ether ETF S-1 filing to remove ETH staking. This amendment comes after the SEC reversed its stance and requested Ether ETF issuers to update their 19b-4 filings.

❗Important to note: The next SEC deadline is May 23 for VanEck’s Ether ETF proposal. While senior Bloomberg ETF analyst Eric Balchunas has increased the odds of approval to 75% from 25%, this only applies to the 19b-4 form. 

🔴 Telegram Messenger’s founder Pavel Durov received a $6.8 million donation in Notcoin from the TON-based game Notcoin. This move has been met with scrutiny due to a lack of transparency from Notcoin’s team. The team had promised to double the contributions of all donors, but many users are unhappy with the lack of communication regarding this decision. 

🏦 The Central Bank of Brazil has announced a three-phase plan for crypto regulation in 2024. The plan includes:
- Consulting market actors regarding VASPs
- Establishing plans to regulate stablecoins: 
- Finalizing rules for VASPs to operate in Brazil: 

💯 Bybit, a cryptocurrency exchange, has reached 30 million users and increased its market share significantly. This growth is due to its focus on security and trust, earning industry recognition. Bybit plans to continue innovating in the Web3 space with new platforms and a decentralized exchange. The company has also received industry recognition, including a perfect 10/10 Trust Score from CoinGecko and an ‘AA’ rating in the recent CCData Crypto Exchange Benchmark Report. info via Bitcoin.com https://lnkd.in/db82YrU5 

🟠 Two UAE news (See slides)
⚡ Roland Berger Middle East announces cooperation with Microsoft UAE to provide customers an unparalleled end-to-end AI capabilities
⚡ Saudi Arabia’s ALLaM model joins IBM watsonx AI platform

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21st May: Crypto & Coffee at 8
👀 Satoshi Nakamoto’s Wallet 🚨Grayscale Investments CEO Michael Sonnenshein resigns ❗Hashgraph + Qatar Financial 💡Centre Russia and Iran- Single BRICS Currency

👀 Satoshi Nakamoto’s wallet now holds over 100 BTC after receiving an inadvertent transfer of 0.10754671 BTC, valued at $7,211. This brings the estimated total value of the wallet, which has remained untouched, to approximately $6.75 million. On May 17, at block height 843,872, an individual mistakenly sent 0.10754671 BTC to Satoshi’s wallet. Arkham Intelligence, a platform for on-chain monitoring and data, was the first to detect this erroneous transaction. “Someone accidentally sent 90% of their BTC holdings to Satoshi Nakamoto last night,” Arkham reported on Twitter (X) here https://lnkd.in/dKenaWsK. “They were attempting to sacrifice an Ordinal for [Pups Token], but accidentally sent almost their entire wallet balance instead — around $7K in BTC.” 

👀 The power of Publicly verifiable, a pillar of open blockchain! Once CBDC gets implemented only the government official & Central bank officials will have access to this information. Verify transaction -> https://lnkd.in/d7stmMbG

💡 Grayscale Investments CEO Michael Sonnenshein has stepped down, with Peter Mintzberg set to succeed him starting August 15, according to SEC filings. Grayscale, known for having the largest Bitcoin ETF with $19.37 billion in assets, has recently faced challenges, including significant withdrawals after converting GBTC into a spot Bitcoin ETF in January and abandoning plans for an Ethereum futures ETF. Mintzberg, the former global head of strategy at Goldman Sachs Asset and Wealth Management, brings extensive experience from his previous roles at BlackRock and Oppenheimer Funds, and holds degrees from Harvard University and Stanford University. Info here https://lnkd.in/dpDvwnkR 

📊 The Hashgraph Association has secured a $50 million deal with Qatar, one of the world’s wealthiest nations. This partnership will establish a Digital Assets Venture Studio, aimed at rapidly advancing research and development in the digital financial sector. The Venture Studio will last four years and complete the initiative by 2028, empowering local businesses in Qatar. Info via Crowdfund Insider https://lnkd.in/dPjs8XMW 

🚨 Russia + Iran
❗ Russia and Iran are collaborating on creating a single BRICS currency, with over 60% of their trade already in rubles and rials, moving away from the U.S. dollar. This was discussed at the “Russia — Islamic World: Kazan Forum 2024.” The BRICS bloc, which has recently expanded, is increasingly using national currencies. Critics warn that these moves could undermine the U.S. dollar’s global dominance. Via Bitcoin.com https://lnkd.in/dH-gi8Xe How will the USA react to this news?

🟠 Two UAE news (See slides)
⚡ Sorbet secures strategic investment from Adaverse
⚡ Sheikh Hamdan inaugurates Dubai AI Campus as city eyes $27bn digital economy boost

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20th May: Crypto & Coffee at 8 🟢 MakerDAO : two new stablecoins 🟤CBDC in Philipines by Coins.ph 🟤 Venezuela bans crypto mining 🟡Kraken to delist USDT from EU?

🟩MakerDAO- newstable and puredai

🟢 Makerdao plans to replace its DAI stablecoin with two new ones: newstable and puredai. Newstable aims to be user-friendly and integrate smoothly with Makerdao’s ecosystem, while puredai focuses on extreme decentralization with minimal governance. The Endgame plan also introduces a new governance token for puredai and includes a lending platform to boost adoption. This initiative aims to enhance stability and scalability in Makerdao’s offerings.

🟤 Coins.ph, a leading cryptocurrency platform, has secured regulatory approval from the Bangko Sentral ng Pilipinas (BSP) to introduce a peso stablecoin named PHPC. This stablecoin is set to be accessible to retail customers and will mark a milestone in the digital asset landscape of the Philippines. PHPC will be pegged one-to-one to the peso, backed by cash and cash equivalents stored in Philippine bank accounts, ensuring its stability and full redemption for pesos.

🟤Coins.ph envisions PHPC being utilised for various purposes such as remittances, trading, business to business (B2B) payments, and Web3 gaming, with the goal of reducing costs and enhancing efficiency. More info here via FintechNewsPh here https://tinyurl.com/26k5mkmu

▶️ Venezuela’s Ministry of Electric Power plans to disconnect cryptocurrency mining farms from the national grid to regulate energy consumption and ensure a stable power supply. The National Association of Cryptocurrencies confirmed that crypto mining is now prohibited in the country. This follows the recent seizure of 2,000 mining devices in Maracay as part of an anti-corruption effort. More info here https://tinyurl.com/mcz3rbw9

❗ The ministry emphasized the need to offer efficient and reliable electrical service across Venezuela by eliminating the strain caused by these high-energy-consuming farms.

🔴 Kraken Digital Asset Exchange is ‘Actively Reviewing’ Tether’s Status Under New EU Rules

❗ Kraken is considering delisting Tether’s USDT from the European Union market due to Tether’s lack of interest in complying with upcoming MiCA regulations. Despite Tether confirming its non-compliance, Kraken is reviewing its legal status and aims to stay compliant with new regulations. The uncertainty surrounding MiCA has prompted Kraken to prepare for various scenarios, including scenarios where listing USDT becomes untenable. Info via Bloomberg here https://tinyurl.com/3rmryp37

🟠 Two UAE news

⚡ Klumi Ventures UAE’s first Web3 Venture Capital firm regulated by Abu Dhabi Global Market (ADGM)

⚡ Department of Health Abu Dhabi partners with MBZUAI (MBZUAI (Mohamed bin Zayed University of Artificial Intelligence) of Artificial Intelligence) and Core42 to launch AI global healthcare academy

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🚀 Bidenflation 3.4% = Crypto 🚀DOJ accuses Brothers for $25M Ethereum Exploit🟢 Mastercard + Standard Chartered test Tokenization ❗UK authorities to seize crypto❗

📊 CPI (Consumer Price Index ) via the Bureau of Labor Statistics states Bidenflation at 3.4% Info can be found here https://tinyurl.com/2s6ker6t This has caused the price of #BTC & Crypto to pump. Based on this information & many other Federal Reserve Board chair Jerome Powell will decide to cut the interest rate, keep it the same or increase it. We strongly recommend looking at https://www.bls.gov/ it explains how Inflation is calculated

🚔 Two Brothers were arrested for attacking the Ethereum blockchain and stealing $25M in Cryptocurrency during a 12-second exploit, according to an indictment unsealed on Wednesday. Indictment here https://tinyurl.com/yruf2kxw

😱 The indictment claims the brothers, using their advanced computer science and math skills, manipulated Ethereum’s transaction process to access and alter pending transactions. They planned the scheme over several months, learning victim trading behaviours and setting up ways to hide their identities and the stolen funds. After executing the exploit, they used various methods to launder the money, including shell companies and foreign exchanges. Check out today’s Blockchain DXB podcast we explain in detail what they did

🔴 Mastercard and Standard Chartered Bank Hong Kong successfully tested Mastercard’s Multi-Token Network (MTN) by conducting an atomic swap of a tokenized carbon credit for cash. This took place in the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox. A Mox Bank client deposited funds and requested to buy a carbon credit. SCBHK tokenized the carbon credit through Libeara, and MTN enabled a real-time swap of the tokenized assets across different blockchains. Info via Cointelegraph here https://tinyurl.com/ycnzkeku

👀 In April, a new UK law allows authorities to seize cryptocurrency assets from suspects without charging them with a crime. This change, effective from April 26, 2024, results from amendments to the Economic Crime and Corporate Transparency Act 2023 (ECCTA), which updated the Proceeds of Crime Act 2002 (POCA). Now, UK police and the National Crime Agency (NCA) can confiscate crypto assets and related physical items like flash drives and written passwords from those suspected of criminal activity. Additionally, authorities can “destroy” crypto assets if returning them to circulation is deemed harmful to the public, though the exact method of destruction has not been clarified.

🟠 Two UAE news (See slides)

⚡ UAE Pro League partners with Chiliz to boost fan interaction and global expansion — 18th April

⚡ Dubai Central Laboratory implements AI-based technology to detect ‘Legionella’ bacteria

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🚔 Tornado Cash Developer — GUILTY 🚀GME meme coin up by 2,291%, KITTY up by 13,000%🚀 Mt. Gox to inject 142,000 BTC 👀 OKX in AUS❗

🚔 Tornado Cash developer Alexey Pertsev has been found guilty of money laundering by a Dutch judge at s-Hertogenbosch court on Tuesday. Pertsev has been given 64 months of prison time by the court. Info via CoinDesk here https://tinyurl.com/4j926maf Pertsev was accused of laundering $1.2 billion of crypto through Tornado Cash, per an indictment earlier this year.

🔴 GME meme coin, inspired by GameStop, surged to over $100 million in market cap amid GameStop’s trading frenzy, reaching 2,291% growth in a week. This coincided with GameStop’s shares rallying due to Keith Gill’s return, causing another short squeeze. GameStop’s CEO, Ryan Cohen, saw $1 billion in unrealized capital gains. Cointelegraph article here states Memecoin frenzy extends beyond GME, with Pepe and Dogwifhat memecoins also rallying. More info here https://tinyurl.com/yc2tfjv9

🔴 A Solana meme coin named KITTY, inspired by Roaring Kitty, experienced a sudden surge in price by over 13,000% within hours after Roaring Kitty reappeared online. The token, which initially dropped to near-zero, saw its market capitalization reach tens of millions of dollars. This unexpected turn of events resulted in a significant increase in trading volume for KITTY on Solana decentralized exchanges. via Decrypt https://tinyurl.com/yk9yanwn

😱 (More Supply = Less Demand)

- Mt. Gox is set to distribute 142,000 BTC, 143,000 BCH, and fiat currency to creditors who lost funds in its 2011 hack. The distribution, scheduled for October 31, 2024, follows years of legal proceedings. Some creditors have already received fiat payments, sparking discussions on whether to sell or hold their Bitcoin. Despite market concerns, many creditors plan to hold onto their Bitcoin, believing in its long-term value. More info via Reddit, Inc. https://tinyurl.com/3nd6re5j

❗ In 2011, Mt. Gox fell victim to a hack, losing 850,000 BTC valued at over $51 billion today. Following the incident, the exchange filed for bankruptcy and has been working to gather funds for creditor compensation since then.

🚨 OKX has launched spot and derivatives trading services in Australia, expanding its global reach. The platform now offers AUD compatibility and access to various crypto assets for both spot and derivatives trading. While spot trading is available to all users, derivatives trading is restricted to verified wholesale clients. This launch reflects their commitment to serving the Australian market and its ongoing global expansion efforts.

Check out Blockchain DXB’s podcast we share our commentary

🟠 Two UAE news (See slides)

⚡ Tether.to Signs MOU With RAK DAO To Develop Educational Initiatives on Bitcoin and Stablecoins in the Ras Al Khaimah Region

⚡ Cisco study reveals 98% of KSA organizations use AI technologies in their cybersecurity strategies

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👀Bitcoin Mining🔻 The US government is going after Tether.to? 🔴$296M Illegal Crypto in China🟠Bitcoin Magazine+ Trump

🔻Mining Difficulty: Last week witnessed a significant slump in Bitcoin mining difficulty, marking the most substantial decline since the Crypto Winter of December 2022. It has dipped below 600 EH/s following the recent halving event.

- As of 06th May, Riot Platforms produced 41% fewer bitcoins in April

- Gryphon Digitial mining reports production of 40 BTC in April

- Info via Seeking Alpha https://tinyurl.com/4drm5te4

❗ Bitcoin production numbers saw a significant drop of 16%, with Riot Platforms, experiencing a 12.7% decrease as Bitcoin itself faced a volatile week. Fintech-focused lender SoFi Technologies slid 11.6% after issuing Q2 guidance below analyst estimates. The Carlyle Group, after posting mixed Q1 results, retreated 11%, while Marathon Digital Holdings, another BTC miner reporting production metrics, fell 9.8%. Info here https://tinyurl.com/yc69ut22

👀 James Butterfill, head of research of CoinShares published a detailed report via Medium that discusses Miners are beginning to turn off unprofitable rigs They expect a shift towards AI in energy-secure locations due to its potential for higher revenues, with companies like BitDigital, Hive and Hut 8 already generating income from AI. Also possibility of the hash rate rising to 700 Exahash by 2025. Full article here https://tinyurl.com/yua7bfc7

- Bitdeer Group, Cormint, Inc., TeraWulf , and Iren are identified as best positioned to survive the halving, while Riot and Hut 8 face significant challenges.

- Overall, the report provides insights into the dynamic landscape of Bitcoin mining and the strategies miners employ to navigate post-halving challenges

Check out the Blockchain DXB podcast we share our commentary on this.

😱 Brad Garlinghouse, CEO of Ripple says it is “clear” that the United States government is “going after” stablecoin issuer Tether which could have an unpredictable impact on the crypto markets. More info via World Class podcast, here via YouTube https://tinyurl.com/4d3xvmbh

🔴 Chinese police arrested six individuals in Panshi City, Jilin, for operating an illegal “underground bank” that handled $296 million in transactions using cryptocurrency for currency conversion, catering to Korean agents and e-commerce firms. Info via CoinDesk https://tinyurl.com/34js3jhd

🟠 Making Bitcoin Great Again- David Bailey, CEO of Bitcoin Magazine, has disclosed his nexus with the campaign of former President Donald Trump. Bailey and his team have advised Trump to develop a Bitcoin and crypto-friendly agenda, including signing a crypto-focused executive order on day one. Via Bitcoin.com here https://tinyurl.com/yt56ycfy

🟠 Two UAE news (See slides)

⚡ Blockchain Innovator Blockdaemon Expands to Abu Dhabi, UAE

⚡ UAE Releases New Falcon AI Model to Challenge Meta, OpenAI

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🚨 Canada fines Binance 👀 Binance & KuCoin Exchange in India, 🚨 Stablecoins on the Bitcoin Blockchain ❗ Franklin Templeton CEO discusses tokenization of ETF & Mutual fund ⚡ Apple + OpenAI

🚔 Canada’s anti-money laundering agency, FINTRAC, has fined cryptocurrency exchange Binance nearly C$6 million (approximately $4.38 million USD) for breaching money laundering and terrorist financing laws. Binance failed to register as a foreign money services business with FINTRAC despite multiple deadlines. Additionally, it did not report receiving virtual currency worth C$10,000 or more on 5,902 occasions between June 1, 2021, and July 19, 2023. Iinfo here https://tinyurl.com/2mw9pc7w

🚨 Binance and KuCoin Exchange have been registered by India’s anti-money laundering regulator, marking a credibility shift for crypto in the nation. KuCoin paid a $41,000 fine and resumed operations, while Binance awaits a penalty determination, potentially facing a $2 million fine. Other platforms are negotiating with regulators or planning to exit India. Overall, India now has 48 registered crypto entities, with the regulator engaging with the industry and media for the first time. Info via CoinDesk here https://tinyurl.com/4kmrxwes

👀 Jenny Johnson, the president and CEO of Franklin Templeton, reiterated her pro-blockchain stance during an interview with Bloomberg anchor David Westland during the 27th Annual Milken Institute Global Conference in California. Full details here https://tinyurl.com/387e7yxa She talks about the way how Tokenization is changing the way people invest. She thinks all ETFs and mutual funds will be on a blockchain.

💯 Will it be on an Open Blockchain or Permissioned Blockchain (Software)?

🎙️ Check out Blockchain DXB’s Podcast we share some key details of Tokenization this week. We also share our commentary on macro-level news

⚡ Lightning Labs, the developer behind Bitcoin’s Lightning Network, has tested a protocol that allows stablecoins to be issued on the Bitcoin blockchain. The CEO, Elizabeth Stark, announced that they recently executed a test transaction using the Taproot Assets protocol on the Lightning Network. The goal is to enable the use of stablecoins and other assets on the Bitcoin blockchain, expanding its use cases and attracting more users to the world of digital assets. Via Decrypt here https://tinyurl.com/32vy2h8m

🟣 Apple is reportedly finalizing an agreement with OpenAI to incorporate ChatGPT features into its upcoming iOS 18 software update, as per a Bloomberg report on May 11. Alongside this, Apple is exploring discussions with Alphabet, Google’s parent company, to potentially integrate the Gemini chatbot. More info via Bloomberg https://tinyurl.com/h7dyr2zh

🟠 Two UAE news (See slides)

⚡Metaverse: The Hype, Reality & New World Order by Blockchain DXB 06th June

⚡PESTLER analysis on Bitcoin on 06th June (Political, Economical, Social, Technological, Legal Environmental, Religious )

For slides click here https://tinyurl.com/3tytr739

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Instagram: @⁠abdullabinhajar⁠ Ambassador ⁠@underarmourme⁠Runner ⁠@vitaminwelluae⁠Summary of the conversation - Abdulla AlShehhi, the First Emirati Runner to complete all 6 World Major Marathons, shared insights into his journey during the podcast.

- He recounted his upbringing in Ras Al Khaimah, UAE, and how he turned to running to overcome being overweight and lead a healthier lifestyle.

- Reflecting on his first 10km event in 2014, he expressed his passion for running, often accompanied by his love for coffee.

- Abdulla described the euphoria and mental clarity he experiences after a good run, likening it to a healthy drug that clears his mind and leaves him feeling positive.

- Recalling his first marathon experience at the Dubai Marathon, Abdulla highlighted the importance of gradual progression in training and event participation.

- He discussed the significance of completing 6 World Major Marathons, including Berlin, Chicago, New York, Tokyo, London, and Boston, and the support he received from his family and community throughout his journey.

- Emphasizing the importance of setting goals, visualizing success, and listening to his body, Abdulla shared his favorite marathon experiences, particularly Tokyo, for its unique atmosphere.

- Despite facing challenges during the New York Marathon, Abdulla pushed through fatigue and proudly raised the UAE flag at Central Park.

- He expressed his admiration for fellow runners and his commitment to continuing his global marathon journey.

- Sharing insights into his training routine, diet, and role as a brand ambassador for Vitamin Wells, Abdulla stressed the importance of recovery, stretching, and quality sleep.

- Looking ahead, he plans to tackle ultra-marathons and obstacle course races.

- Representing Under Armour resonates with Abdulla's personal values, alongside his passion for Anime, music, and favourite Under Armour gear.

- He concluded by offering advice and encouragement to the UAE running community, emphasizing perseverance and balance in pursuit of their goals. He also stressed the importance of believing in yourself.

Thank you for the podcast.

🟢 Ethereum Proposal EIP 7702 by Vitalik Buterin 💳Mastercard + US banks work on Tokenization 👀Robinhood receives Wells notice by SEC 🔻Grayscale Withdraws Ethereum ETF

🟢 EIP 7702 Targets Enhanced Security and Compatibility

Ethereum Improvement Proposal (EIP) 7702 represents a pivotal advancement in Ethereum’s ecosystem, targeting enhanced security and compatibility. Authored by Vitalik Buterin along with co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett. More info via GitHub here https://t.ly/PgcE5

🟢 EIP 7702 enhances Ethereum’s security and compatibility by avoiding obsolete opcodes, integrating with EIP 4337 for quantum computing readiness, and introducing a new transaction type. It simplifies interactions, reduces costs, and prioritizes user security. This proactive approach makes Ethereum resilient against future threats.

🎙️Check out Blockchain DXB podcast we explain this in detail. Also see slides 1 & 2 below for macro details of #defi, #stablecoins #BTC & more

💳 Mastercard, along with major US banks like Citigroup, Visa, and J.P. Morgan, is testing distributed ledger technology for banking settlements using tokenization. They’re trialing the Regulated Settlement Network (RSN), which streamlines settlement processes by converting various assets into tokens and settling them on a single platform. The ongoing trials, building on a previous 12-week pilot phase, now focus on simulating US dollar settlements. Source via Bloomberg https://t.ly/KXhMK

👀 Robinhood, a major American crypto exchange, received a Wells Notice from the U.S. Securities and Exchange Commission, suggesting possible enforcement action for alleged breaches of securities laws. Details of the wells notice can be seen here https://t.ly/tlQVt via StreetInsider.com

As a result of the news, Robinhood’s share price fell 2.5% before the market opened, hitting $17.95 at 12:50 p.m

🔻 This news led to discontentment among investors. Additionally, a significant amount of Dogecoin was cashed out as Robinhood faced increased outflows. Dogecoin’s price dipped below $0.15 despite rising trading volumes, partly due to these developments and the liquidation of long positions worth nearly $4M.

🟢 James Seyffart, CFA, CAIA mentioned via Twitter (x) that Grayscale Investments just withdrew their 19b-4 filing for an #Ethereum futures ETF. Info here https://t.ly/QAxyf But Grayscale’s strategic Ethereum trust retraction filing raises questions. According to the James was Ethereum futures ETF was e essentially a trojan horse filing i, in order to create the same circumstances that allowed Grayscale to win the GBTC lawsuit (approve futures deny spot) but withdrawing doesn’t make sense right?

🟠 Two UAE news

⚡ Chainalysis sets up regional HQ in Dubai amid local crypto boom

⚡ Trezi to transform UAE’s AEC landscape in the Metaverse era

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08th May: Crypto & Coffee at 8
💯 Trump defeating Biden is Good for Bitcoin — Standard Chartered 👀Cartier family member indicted — USDT 🚨HK explores Tokenization

🔆 Analysts at British bank Standard Chartered today said that a second Donald Trump presidency could do Bitcoin good. In a Tuesday note, Standard Chartered digital assets researcher Geoff Kendrick said that another Trump administration would not be as strict on Bitcoin as a Biden one might be. The report also states import tariffs under a Trump presidency would lead “several large reserve managers to be buying BTC in 2025.” Info via Decrypt here http://tiny.cc/alzzxz

🟠 Is Bitcoin Apolitical? Until we reach a separation of Money and the State. Politics and politicians will have a very strong say in the trajectory and direction of Bitcoin & Crypto.

Independent Presidential candidate Robert F. Kennedy Jr. will appear at Consensus 2024. He has promoted a pro-cryptocurrency stance during his campaign and will speak later this month at the Consensus 2024 crypto conference in Austin, Texas.

👀 Maximilien de Hoop Cartier, a descendant of the family famous for their French luxury goods Cartier, has been indicted for his participation in a network that allegedly used several shell companies to launder drug trafficking money proceeds using Tether.to USDT. Cartier and five Colombian individuals allegedly conspired to directly launder $14.5 million and used these shell companies to launder hundreds of millions for unnamed third parties. Info via Bitcoin.com https://lnkd.in/dt6tAp9B

🟣The Hong Kong Monetary Authority (HKMA) is spearheading collaboration with industry stakeholders to explore asset tokenization. Through the newly announced “Project Ensemble Architecture Community,” comprised of industry representatives and regulators, HKMA aims to develop tokenization standards and supervise tokenization projects in Hong Kong. This initiative also focuses on fostering interoperability among wholesale central bank digital currencies (wCBDCs) to facilitate seamless interbank settlement of tokenized deposits for asset transactions. Regulators involved include HKMA, Hong Kong’s Securities and Futures Commission, the BIS Innovation Hub Hong Kong Centre, and the CBDC Expert Group.

❗The private sector is represented by seven members, including Bank of China (Hong Kong), Hang Seng Bank, HSBC, Standard Chartered Hong Kong, HashKey Group, Ant Digital Technologies and Microsoft Hong Kong.

❗ Together, the companies and authorities are expected to design and launch the Project Ensemble Sandbox, which is targeted to launch around mid-2024 to facilitate further research and testing of tokenization use cases. Info via Cointelegraph here http://tiny.cc/vmzzxz

🟠 Two UAE news (see slides)
⚡Crypto options desk QCP Capital wins Abu Dhabi license:
⚡Cognizant and Google Cloud to drive AI innovation in Saudi Arabia

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07th May: Crypto & Coffee at 8
👀 687 #BTC move after a decade 🟢 SEC delays Invesco Galaxy spot Eth ETF decision ❗ Philippines- Cryptocurrency Regulatory Framework ❗OKX has turned off the p2p function in Nigeria

👀 A mysterious holder has moved Bitcoin (BTC) worth nearly $44 million after receiving the coins over 10 years ago On Sunday, 687.33 BTC worth $43.7 million were moved after being dormant for a decade. The coins were initially received in January 2014 and have not been touched since. The current price of BTC at $63,467 means the investor has gained 7,228%. The transaction fee paid to move the coins was less than $2. Via Decrypt https://lnkd.in/dE-wzdmv The power of publicly verifiabilty!

🏦 The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Invesco US Galaxy’s application for a spot Ether exchange-traded fund (ETF), setting the next deadline for July 5th. This delay extends the review period by another 60 days to thoroughly assess the proposed ETF and related issues. The SEC has also deferred decisions on applications from other Ether ETF issuers, including BlackRock, Fidelity Investments, Franklin Templeton, Hashdex, and Ark 21Shares. Analysts had anticipated these delays, with recent downgrades in the odds of approval for ETFs, reflecting doubts about the SEC’s readiness to approve such products within the expected timelines. Filing by the SEC here https://lnkd.in/da49qvhY

🔴 Emilio B. Aquino, chairperson of the Philippines SEC, plans to introduce a cryptocurrency regulatory framework later in 2024. The aim is to protect Filipino crypto users. The SEC recently requested Apple and Google to remove Binance’s apps from their stores, arguing Binance lacks the necessary license. Aquino expects swift compliance from the tech giants, given their past responsiveness. https://lnkd.in/d_NkpiMJ
Important to note On April 19, the commission requested the removal of Binance applications from the app markets of Apple and Google in the Philippines.

❗ Santiment Feed disclosed that over 260,000 new Ethereum wallets were created between April 28 and April 29, the highest two-day network growth since October 8 and October 9, 2022. Twitter https://lnkd.in/dfM9KM8R

🚨 OKX has turned off the peer-to-peer function for Nigerian users and removed the naira from its platform. OKX said in a terse statement shared on X on Friday. Tweet here https://lnkd.in/d_S--y4Q OKX is the second crypto platform to disable its P2P function for Nigerian users, following Binance’s disabling of P2P for Nigerian users.

🎙️ Check out Blockchain DXBs Crypto & Coffee at 8, we share our commentary on today’s macro-level news & local news that’s below

🟠 Two UAE news (See slides)
⚡ Emirates NBD welcomes Chainalysis to Digital Asset Lab Council 
⚡ Singapore-based Dyna.Ai announces global launch in Dubai

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

🟠 MicroStrategy’s Decentralized Identity protocol 🚨 Coinbase faces new lawsuit 🟠 Block‘DCA’ing’ into 🟠#BTC BTC-e, $9B money laundering

🟠 Bitcoin for Corporations May 1 — May 2, 2024

⚡ Michael Saylor announced the Orange protocol for decentralized identification, hoping to anchor digital identities in the dominant blockchain.

🟠MicroStrategy Orange Decentralized Identity protocol❗

❗ According to the MicroStrategy Orange documentation, the decentralized identity protocol uses a modified approach to inscriptions as Ordinals, but stores only data related to decentralized identity (DID), meaning documents can be created and updated with few restrictions on size and content while taking advantage of the segregated witness (SegWit) feature of Bitcoin. MicroStrategy Orange decentralized identifier could also be used to verify users on social media applications or authenticate a text message, college degree or medical record.

🟠 MicroStrategy published an unofficial draft of the MicroStrategy Orange specification to Github. https://tinyurl.com/2r8krcez Source via Decrypt https://tinyurl.com/3memkkxn

🚨 Coinbase and its CEO Brian Armstrong face a class-action lawsuit alleging investor deception and illegal business practices. The lawsuit claims several cryptocurrencies on Coinbase are securities, violating state laws. Coinbase disputes this. Meanwhile, a crypto lawyer filed a brief supporting an appeal on behalf of over 4,700 Coinbase customers. Despite legal challenges, Coinbase reported strong financial performance in Q1 2024, driven by market performance and Bitcoin exchange-traded funds. Official lawsuit details here https://tinyurl.com/389wh4hy

🔵Cenorship King & Twitter co-founder Jack Dorsey s new company Block will flip 10% of its gross profit made off its Bitcoin products into buying BTC every month. Block bought $220 million worth of BTC between the fourth quarter of 2020 and the first quarter of 2021. Its latest earnings detailed that Block held 8,038 Bitcoin BTC as of March 31, worth around $573 million, with reported paper gains of $233 million. According to Censorship King open protocol could benefit Block by helping it “serve more people around the world faster. Important to note “less than 3% of company resources are dedicated to Bitcoin-related projects.” https://tinyurl.com/yyw4hjav

🟠 BTC-e Operator Pleads Guilty to Money Laundering Conspiracy. The exchange moved over $9B worth of transactions; The defendant caused criminal losses in excess of $100M. Laundering related to his role in operating the cryptocurrency exchange BTC-e from 2011 to 2017. Official info here by U.S. Department of Justice https://tinyurl.com/33pwp6nr

🟠 Two UAE news (See Slides)

⚡Cardano Foundation Partners with Dubai Blockchain Center

⚡ UAE to be testing ground for a series of game-changing consumer blockchain applications Arabian Business

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📊 FOMC Meeting — Intrest Unchained 🟣 Tether.to Net Profit Of $4.5B 🚨 Securitize raises $47M 🔻 NFT Sales Dip Over 31%🔻

🏦 Federal Reserve Board chair Jerome Powell and his Avengers decided to keep the interest rate unchained. It put a red flag on recent disappointing inflation readings and suggested a possible stall in the movement towards more balance in the economy. We strongly recommend watching the full video here via YouTube https://tinyurl.com/4zbxxmf3 The global market has collapsed.

🔆 Shouldn’t Bitcoin be a safe haven against Inflation? Bitcoin & the Global Cryptomarket is down, see slides 1 & 2 below. Fear and Greed Index is Neutral — We are our commentary in our podcast today

🚨 The first quarter of 2024 proved highly profitable for Tether.to, with a net profit of $4.52 billion. Tether Holdings Limited (BVI) released its assurance opinion for the first quarter of 2024, conducted by BDO, a leading global independent accounting firm. Report here https://tinyurl.com/3nfajan7 They hold over $90 billion in U.S. Treasuries, with a net equity of $11.37 billion. Tether-issued tokens are 90% backed by Cash and Equivalents, with over $12.5 billion issued in Q1. CEO Paolo Ardoino emphasizes transparency and stability. Tether reserves the right to adjust reserves as needed. Check out Blockchain DXB podcast we explore the details of the report

💰Securitize secures $47 million in strategic funding, with BlackRock leading the investment. Crypto companies Aptos Labs, Paxos, and Circle also participated in the funding round. The investment signals optimism for the future of real-world asset tokenization. BlackRock global head of strategic ecosystem partnerships Joseph Chalom will join the Securitize board of directors. Info via Twitter (X) https://tinyurl.com/yfaj72rb & more info here https://tinyurl.com/2fw8pmf4

🤑 In April, the NFT market saw a decline as sales reached approximately $1.15 billion, marking a 31.26% decrease from March. The number of NFT purchasers also fell by 51.88%, accompanied by a 45.72% reduction in sellers during the same period. Bitcoin emerged as the leading blockchain for NFT sales last month, generating $597.62 million in transactions. Info here cryptoslam.io

🟠 Two UAE news

⚡ Abu Dhabi: TII, AppliedAI partner to provide AI backing to first responders in mission-critical sectors

⚡ How to Start a Podcast by Blockchain DXB — 10th May 2024 Registration link via Eventbrite here https://tinyurl.com/yxma9c5h

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Glassnode

Website - https://glassnode.com/

LinkedIn - https://tinyurl.com/nznh9d44

Telegram- https://t.me/glassnode

Youtube - https://www.youtube.com/glassnode

Twitter - @glassnode https://twitter.com/glassnode

James Check

Twitter @_Checkmatey_ https://tinyurl.com/y37j52w9

Substack- https://substack.com/@checkonchain

Check on Chain : https://www.checkonchain.com/

Summary of the conversation

- James discussed a report he's preparing on the bull and bear cases for cryptocurrency, released on May 1st.

- He shared his journey into the cryptocurrency space, particularly focusing on Bitcoin, as well as his background in civil engineering, emphasizing risk and probability.

- James highlighted his role as Lead Onchain Analyst for Glassnode, focusing on Bitcoin and Ethereum, incorporating competencies from his civil engineering background.

- He defined Bitcoin as a mechanism for storing time, contrasting it with fiat currency's money printing.

- Explained Glassnode's role in providing onchain data analysis for traders and institutional investors, highlighting its benefits for individuals and businesses.

- Discussed the use of onchain data and its various patterns and insights, including the weekly insights report.

- Considered key dates like the FOMC meeting on May 1st and discussed metrics such as outflows and price corrections.

- Explored Bitcoin halving and its implications, referencing an interview with YouTuber "Pepperstone" and Glassnode's institutional report with Coinbase.

- Examined the impact of stablecoins and other reports Glassnode looks at.

- Detailed Glassnode's data extraction processes and challenges in explaining services to clients.

- Explored psychological behaviours identified through onchain analysis, sharing a 2021 incident.

- Discussed the legitimacy of onchain analysis and Glassnode's competitive advantage.

- Recommended the book "Reminiscences of a Stock Operator" and discussed Check on Chain, James' personal project.

- Explored Bitcoin's white paper and its significance, along with investment portfolios for High Net Worth Individuals and Institutions.

- Discussed Glassnode's use of AI and its impact on the onchain analyst role.

- Explored the philosophical implications of Bitcoin as sound money and its role in the future.

- Considered Bitcoin halving and related onchain metrics, comparing 2020 and 2024 halvings.

- Shared thoughts on ordinal inscriptions and runes, discussing personal use cases.

- Discussed Ethereum metrics and challenges, as well as the potential impact of the 2024 US elections on Bitcoin and cryptocurrencies.

- Concluded with a discussion on James' music genre preferences and highlighted key information about Glassnode and Check on Chain.

Thank you for the podcast. For feedback or suggestion send email to info@blockchaindxb.com

🚨 Bitcoin Jesus — Roger Ver arrested for alleged tax evasion and mail fraud in Spain. Roger Ver, also known as “Bitcoin Jesus,” has been arrested in Spain following charges of tax evasion by the U.S. Department of Justice. The indictment accuses Ver of evading nearly $50 million in taxes, engaging in mail fraud, and filing false tax returns. The U.S. Department of Justice announced Tuesday here https://lnkd.in/eYJS8HwM The United States will seek Ver’s extradition to stand trial in the United States. Check out Blockchain DXB podcast we share more information on this

💰 BlackRock’s BUIDL fund, now at $375 million, has become the largest tokenized treasury fund in just six weeks, surpassing Franklin Templeton’s BENJI. With Securitize’s support, BUIDL commands almost 30% of the $1.3 billion tokenized treasury market. Ondo Finance’s OUSG token played a significant role in BUIDL’s growth, contributing $50 million in inflows. Tokenization, particularly of U.S. Treasuries, offers benefits like faster settlements and increased transparency, driving market growth from $100 million to nearly $1.3 billion, largely due to BlackRock’s entry. via CoinDesk https://lnkd.in/eN35wS43

⚡ Coinbase now supports the Bitcoin Lightning Network, offering users faster and cheaper Bitcoin transfers compared to the Bitcoin blockchain. Users can choose between Lightning and the Bitcoin network for their transfers. With Lightning, the recipient generates a unique invoice containing the transfer amount, valid for 72 hours. It’s important to note that a new invoice must be generated for each transaction. Official info here https://lnkd.in/e_iN2Z6T

⚡ Coinbase chose Lightning payments solution provider Lightspark as a partner for the integration. That company is headed by former PayPal president David Marcus

🔴Wasabi Wallet and Phoenix- are no longer in the USA
- Wasabi Wallet and Phoenix have suspended their services for customers in the United States due to actions taken by U.S. authorities against similar cryptocurrency services. The companies have implemented measures to block U.S. IP addresses and remove their wallets from U.S. application stores to comply with potential regulations. The crackdown on cryptocurrency services has intensified following the arrest of individuals linked to the Samourai Wallet on charges of money laundering Info via Forkast.News https://lnkd.in/eMYK-2w9

🔴Former Binance CEO Changpeng Zhao has been sentenced to only four months in prison for money laundering violations. CZ may be the richest person to serve jail time with a worth of $37Billion

🟠 Two UAE news (See slides)
⚡ Liminal receives initial approval from VARA, SourceZawya
⚡ Saudi Arabia to use AI in its healthcare, Source Gulf News

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30th April: Crypto & Coffee at 8
🔻68% of Runes are Ruined ⚡ Aus spot Bitcoin ETF👀 MicroStrategy Q1 loss but acquire more #BTC 😱$3 Billion to be unlocked in May

⚡ Top 50 Runes by the number of holders are down 30% on average as of April 29, OKX data here https://lnkd.in/dfZbErJZ shows two-thirds of them (34 out of 50) are in the red. As of April 29, there were more than 349,000 Runes holders, according to data from Rune Alpha. That’s almost half of the active addresses on the network as tracked by on-chain data firm IntoTheBlock.

🎙️ Check out Blockchain DXB podcast we share more information on this

💡 According to Franklin Templeton, Runes positions Bitcoin to close the gap with Ethereum and Solana’s fungible tokens markets

📊 Australia’s Top Exchange Expected to Approve Spot Bitcoin ETFs
ASX, Australia’s largest securities exchange, is expected to approve spot Bitcoin ETFs before the end of 2024. The exchange is engaging with issuers interested in admitting cryptoasset-based ETFs, but has not provided a specific timeframe. Applications for spot Bitcoin ETFs are pending from asset management firms VanEck, DIGITALX, and Betashares. Info via Bloomberg https://lnkd.in/diWGxZtC

🚨 MicroStrategy (MSTR) reported a net operating loss of $53.1 million, or $3.09 per share, in the first quarter after taking a digital asset impairment charge of $191.6 million, according to a Monday afternoon press release here https://lnkd.in/dUzeJ_Sf MicroStrategy purchased 122 additional Bitcoin for a total of $7.8 million between April 1 and April 26, according to the report.As of Friday, MicroStrategy holds 214,400 Bitcoin, or $13.5 billion worth at the current price of the asset.

👀 In May, $3 billion worth of tokens will be unlocked across seven different projects, including Pyth and Aevo. Pyth will unlock 2.13 billion tokens, while Aevo will implement both cliff and linear unlocks. Other projects like Avalanche, Memecoin, Ethereum L2 Arbitrum, Aptos, and ApeCoin will also release tokens into the market. Timelines are below
- DeFi oracle network Pyth- 20 at 2pm UTC, 2.13 billion PYTH token ($1.24 billion)
- On May 15, 827.6 million AEVO tokens (($1.24 billion))
- Memecoin will also be releasing 5.31 billion MEME tokens ($147.95 million) on May 3, followed by 49.47 MEME tokens ($1.38 million) a day for the next 184 days.
- Ethereum L2 Arbitrum will be unlocking 92.65 million ARB ($103.76 million) on May 16
- Aptos is unlocking 11.31 APT ($102.1 million) on May 12 for the foundation, community, core contributors, and investors.
- Bored Ape themed ApeCoin will be releasing 15.6 million APE ($19.97 million) on May 17, mostly going to the treasury and Yuga Labs
❗ What does this mean for the global crypto market?

🟠 Two UAE news (See slides)
⚡ Sheikh Hamdan announces launch of Dubai Universal Blueprint for Artificial Intelligence 
⚡ Abu Dhabi Autonomous Racing League showcases the capabilities of autonomous vehicles and virtual reality applications 

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29th April: Crypto & Coffee at 8
👀Consensys sues SEC 🔥Changpeng Zhao in Prison? 💡NFTs minted on the Bitcoin blockchain 🔥Yuga Labs — a new round of layoffs

🟢Consensys Sues the U.S. Securities and Exchange Commission to Defend the U.S. Ethereum Community- Does it seem like a very centralized decision? Info here states why they are seeing the SEC https://lnkd.in/dVMy75_W T

❗The lawsuit against the SEC challenges its attempt to regulate global, peer-to-peer computer networks like Ethereum, arguing it oversteps its authority. The SEC’s insistence on controlling Ethereum undermines its decentralized nature and harms developers, market participants, and the U.S. economy. By redefining legal standards, the SEC aims to claim oversight over Ethereum, threatening technological advancement and stablecoin policies. If successful, this regulatory overreach could devastate the cryptocurrency industry, leading to job losses and economic damage.

CZ is not #SAFU
Changpeng Zhao, faces up to three years in prison for money laundering violations. Prosecutors seek a harsher sentence than guidelines recommend due to the severity of violations. Binance admitted to evading anti-money laundering rules and agreed to a $4.32 billion penalty. Prosecutors accuse Binance of facilitating transactions with terrorist groups and supporting illegal activities. Despite Zhao’s cooperation and fines, prosecutors emphasize the harm caused. Final sentencing is scheduled to take place on 30th April

📊NFTs minted on the Bitcoin blockchain have dominated, accounting for more than 44% of sales. Statistics from the last 30 days reveal that four of the top five best-selling NFT collections all stem from the Bitcoin blockchain. According to data from CryptoSlam Inc.io, Bitcoin-based NFTs have amassed $3.43 billion in total sales, positioning Bitcoin in fourth place behind Ethereum, Solana, and Ronin. Via Bitcoin.com https://lnkd.in/dt79pDtf

🔥 Bored Ape Yacht Club creator Yuga Labs is restructuring with an aim to get back to its smaller, scrappier early days.Yuga Labs, the creator of Bored Ape Yacht Club NFTs, is restructuring and implementing layoffs to return to its smaller, more agile roots. CEO Greg “Garga” Solano announced the decision, citing a need to refocus and prioritize excellence. The extent of the layoffs is undisclosed. Info via Twitter (x) here https://lnkd.in/d8_gbGcA

🔴 Decrypt article here https://lnkd.in/dDBJd_RQ states that the NFTs recently fell to a price that’s 90% less than at the peak, Yuga Labs has yet to launch Otherside despite multiple brief test events, and the company sold off some of its created gaming IP earlier this month in an effort to refocus and streamline.

🟠 Two UAE news (See slides)
⚡ Dubai’s DMCC (Dubai Multi Commodities Centre) hosts trade roadshow in Japan to drive growth in Web3, AI and gaming
⚡‘Saudi Arabia at forefront of AI,’ says business leader at World Economic Forum

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25th April: Crypto & Coffee at 8
👀Hedera Hashgraph- Fakenews 🚀Bitcoin Mining difficulty❗ Jack Dorsey’s #BTC mining system💡 SEC gets sued

🟢 Hedera’s HBAR token experienced a remarkable 113% surge in value following news of BlackRock’s fund being tokenized on the platform. However, as additional information surfaced and BlackRock disavowed any direct participation, the token’s price swiftly declined. Archax, a digital asset exchange, broadened its selection of tokenized fund shares to encompass BlackRock’s ICS U.S. Treasury money market fund, despite BlackRock’s clarification that it was not directly engaged in the tokenization process.

❗ The tweet that started the #fakenews / confusion is here https://lnkd.in/dsc7krBg A BlackRock spokesperson told Decrypt via email.“We have not worked with Hedera,” The clarified “Archax distributes our product through tokenization and [is] using Hedera.”

🔴 Following Bitcoin’s fourth halving, the network recently underwent its initial difficulty adjustment, marking a 1.99% uptick and propelling mining difficulty to an all-time peak. The difficulty level soared from 86.39 trillion to a fresh milestone of 88.10 trillion. At block 840,672, 672 blocks subsequent to the fourth halving at block 840,000, the difficulty surged by 1.99%. The next adjustment in difficulty is projected to occur around May 8, 2024. Initially, the hash price surged to $182 per petahash per second (PH/s) per day, but subsequently dwindled to $74 per PH/s just two days prior. More info via Bitcoin.com here https://lnkd.in/dTq_k_2i

- Will it be sustainable for miners?
- How much does it cost to mine a single Bitcoin?

👀 Censorship King’s BTC mining system with a 3nm chip headed to the foundry
❗ Block, is building its own Bitcoin (BTC) mining system. They plan to leverage their product and software development expertise, system engineering competency, supply chain experience, and aftermarket support capability, having shipped tens of millions of devices. Their intention is to utilize this extensive experience to introduce a compelling and differentiated mining solution to the market. Info here https://lnkd.in/djAH-JaQ

🔴 The Blockchain Association and a Texas crypto group are suing the SEC over its “Dealer Rule” expansion, claiming it stifles innovation in the digital asset industry. They argue the SEC’s broad interpretation of “dealer” creates burdensome regulations for crypto businesses. The lawsuit alleges violations of the Administrative Procedure Act and seeks to overturn the rule. Info here https://lnkd.in/dGDYYVHq CFAT members include Coinbase, a16z crypto, Ledger, Paradigm, + Blockchain Capital.

🎙️ Check out Blockchain DXB podcast we give our commentary & all of this & more

Two UAE news (See slides)
⚡Nucleus AI and Dubai Blockchain Center unite AI and blockchain to drive innovation and business growth
⚡Abu Dhabi Global Market (ADGM), Hacken forge partnership to elevate blockchain security standards

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24th April: Crypto & Coffee at 8
❌ Tether.to Pro Censorship 👀 Crypto.com Postpones Launch due to Money Laundering Probe 🟢 ETH ETF update by SEC

🔥 Tether.to — Pro Censorship
The U.S. is set to reimpose sanctions on Venezuela’s oil industry, prompting the country to accelerate its adoption of cryptocurrency in oil trading. Venezuela’s state-run oil company, PDVSA, plans to increase the use of digital currencies to reduce the risk of frozen sale proceeds in foreign bank accounts. But Tether vows to follow the law and block transactions.

🚨 U.S. Department of the Treasury requires PDVSA customers and providers to wind down transactions by May 31 due to Venezuela’s failure to implement electoral reforms. A spokesperson from Tether.to said: “Tether respects the OFACs SDN list and is committed to working to ensure sanction addresses are frozen promptly.” Tether’s CEO Paolo A. said these actions reflect the firm’s commitment to establishing higher safety standards within the emerging industry. via CryptoSlate https://lnkd.in/dDzGMP-P

🎙️ Check out the Blockchain DXB podcast today we share our commentary on this. We discuss if 
- Is Tether USDT following pillars of Open Blockchain? 
- Is Tether USDT replacing the role of a bank? 
Important to note according to Dune Analytics, Tether has voluntarily blocked 1,426 USDT addresses, freezing over $1 billion in funds.

🔴 Crypto.com postponed its South Korea app launch due to an on-site inspection by regulators regarding alleged anti-money laundering issues. Despite maintaining high standards, the exchange aims to ensure regulators understand its policies. The exchange, approved in 2022, remains committed to responsible industry advancement in Korea. It clarified that no new customers were onboarded since acquiring OkBit. More info via CoinDesk here https://lnkd.in/d4CMX_tN

🟢 The U.S. Securities and Exchange Commission (SEC) has delayed its decision on spot Ethereum exchange-traded fund (ETF) proposals from Grayscale Investments and Franklin Templeton. The SEC stated that it needs more time to review the proposals. These fund managers, along with others, are seeking approval from the SEC to allow their investment vehicles to trade on American stock exchanges. News via Decrypt here https://lnkd.in/dAx96tRn
- Filings from SEC here https://lnkd.in/d4FfpzDw The Commission is extending the time period for approving or disapproving the proposed rule change for an additional 60 days

🟢 Standard Chartered published a report that ETFs that hold Ethereum’s ether (ETH) are unlikely to be approved in May.via The Block https://lnkd.in/dftWqHVv
Some year-end predictions are 
- bitcoin price target of $150,00 
- ether target of $8,000.

🟠 Two UAE news (See slides)
⚡ UAE leads crypto adoption in the Middle East with 72% of local users investing in Bitcoin: Bitget Research via Zawya
⚡ UAE-based AI firm G42 announces collaboration with U.S. group Qualcomm info via Gulf Business

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23rd April: Crypto & Coffee at 8
⬛BlackRock #BTC education series 💡 #BTC miners earn $100M in fees ⚡ CoinMENA Partnership news ⚽Man City and OKXs NFTs

🎙️ Tune in to the Blockchain DXB episode for commentary

⚫BlackRock has released a series of educational videos so people can Learn more about investing in Bitcoin and the benefits of using an ETF like IBIT. The educational series called ‘UNDERSTANDING BITCOIN ETFS’ explains
- Bitcoin 101
- Understanding Bitcoin
- Investing in Bitcoin ETF
- Industry Insights
- Resources
More info here https://lnkd.in/djaqBKtR

📊 Bitcoin is experiencing a “DeFi summer” moment as the new Runes token standard leads to record daily miner rewards and transaction fees. Bitcoin’s fourth halving reduced miners’ block subsidy rewards, but transaction fees have surged, exceeding subsidy rewards for over 100 blocks. The hype surrounding Runes, a new token standard for Bitcoin, has driven speculative activity and increased competition, resulting in higher transaction fees. Info via The Block here https://lnkd.in/dQ9Si2Hy

❗ It’s important to note that After an initial surge in transaction fees, which peaked at $128.45 on the day of halving, average fees have significantly declined to $34.80 as of April 21, according to YCharts data. Total daily miner revenue has also dropped to approximately $51 million. Currently, average fees have decreased further to around $10, as reported by Mempool data. here https://mempool.space/

🔴 CoinMENA partners with Standard Chartered-backed Zodia Markets. The Partnership aims to enhance liquidity on Fiat to Crypto Trades. It will boost liquidity and reduces slippage on high-volume trades between G10 and GCC currencies and stablecoins/crypto assets. Zodia Markets’ trading infrastructure ensures efficient settlement for institutional clients, complementing CoinMENA’s platform for retail and institutional investors in MENA. The collaboration aims to provide efficient entry and exit from digital asset markets with minimal transaction costs, bridging traditional finance with digital assets. Info here https://lnkd.in/d-YMSTbS

⚽ Manchester City Football Club and OKX have teamed up to launch “Unseen City Shirts,” a unique NFT collection. Fans can mint these digital collectibles on the OKX app for a chance to win rare jerseys and matchday experiences. The jerseys feature hand-painted designs by artist Christian Jeffery, incorporating symbols like the Lancashire rose and the Manchester worker bee. The rarity of the NFTs determines the prizes, with ultra-rare NFTs offering exclusive experiences like playing on the pitch, while rare NFTs provide stadium tours and special edition jerseys. Minting is free on the OKX Marketplace. Cointelegraph here https://lnkd.in/dzrKcvUP

🟠 Two UAE news (See slides)
⚡ Varys Capital Ventures (CEIC) Limited is set to launch in the ADGM 
⚡ Dubai announces global AI prompt engineering championship with over $272 million prize pool

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22nd April: Crypto & Coffee at 8
🟠 #BTC Halved Transaction Fees 🚀 MicroStrategys event — Bitcoin for Corporations. ❗ Tether.to Expansion plans, 👀$ETH was withdrawn from CEXs

🟠Bitcoin — 🤘🏻Chopped in half🤘🏻 at Blockc No 840,000 on 04/20 however transaction fees have skyrocketed due Meme coins on Bitcoin Blockchain Runes that is similar to Ordinals, Launches on Bitcoin, Sending Fees Soaring as Users Rush to Mint Tokens. About nine blocks after the halving, Runes minters had already paid 78.6 BTC in fees (~$4.95 million) in order to buy the rarest of the rare. This suggests that, like Ordinals, the Runes protocol could be a boon to Bitcoin’s burgeoning fee economy. Can learn more info here https://www.runebtc.xyz/ check out Blockchain DXBs podcasts we share our commentary on this

🔥 Bitcoin for Corporations
🚨 MicroStrategy’s upcoming MicroStrategy World conference in Las Vegas, from April 29 to May 2, 2024, will spotlight Artificial Intelligence + Business Intelligence and Bitcoin for Corporations. Bitcoin Magazine will exclusively stream the latter segment, emphasizing Bitcoin’s role in corporate strategy. Michael Saylor will discuss Bitcoin’s store-of-value aspect post-approval of Spot Bitcoin ETFs, joined by Lightspark CEO David Marcus. The event, expected to draw over 1,000 executives, reflects growing interest in Bitcoin among major corporations. Info here https://lnkd.in/diY2wvv6

🟢Tether.to, is expanding its focus beyond stablecoins to embrace infrastructure solutions for a more inclusive world. This shift introduces four distinct divisions: Data, Finance, Power, and Edu(cation). Tether aims to contribute to a resilient financial and tech ecosystem by supporting sustainable solutions such as responsible Bitcoin mining and AI infrastructure. The company has launched initiatives like Tether Edu and Tether Power to drive global access to digital skills education and promote sustainable Bitcoin mining. Tether’s CEO, Paolo A., emphasizes their commitment to empowering individuals and communities through technology, fostering independence and freedom. Info here https://lnkd.in/dxumxQSv

🚨 On-chain data from IntoTheBlock reveals a strategic accumulation trend among Ethereum (ETH) investors, with over $500 million of ETH withdrawn from centralized exchanges (CEXs) in the past week, marking the highest movement since February. via Twitter here https://lnkd.in/dhnDQUTy This comes following the greenlight from regulators in Hong Kong for the launch of Spot Ethereum ETFs, alongside Spot Bitcoin ETFs, prompting investors to anticipate a price surge and adjust their ETH holdings accordingly.

👀 Chirag Tomar, 30, pleaded guilty to creating a fraudulent Coinbase website and stealing $9.5 million in cryptocurrency. CoinDesk info https://lnkd.in/dy5Njc3K

🟠 Two UAE news (See slides)
⚡Binance FZE Receives a VASP Licence from Dubai’s VARA
⚡Astra Nova raises $1m to pioneer the 1st Web3 RPG game based in KSA
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🔴🔵U.S. Senators Kirsten Gillibrand (D-NY), member of the Senate Agriculture Committee, and Cynthia Lummis (R-WY Introducef Bipartisan Landmark Legislation To Create Regulatory Framework For Stablecoins. A landmark bipartisan legislation that creates a clear regulatory framework for payment stablecoins that will protect consumers, enable innovation and promote U.S. dollar dominance while preserving the dual banking system. Official info here https://lnkd.in/dUH6RaZF Check out Blockchain DXBs Crypto & Coffee at 8 podcast we give our commentary on this. We explain
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- Encourages responsible innovation
- Prevents illicit finance 
- Protects American interests
- Addresses custody
- Preserves the dual banking system

🌏 Worldcoin, led by Sam Altman, is launching World Chain, a layer-2 Ethereum blockchain prioritizing human verification via its retina-scanning “orb” device. With over 10 million users across 167 countries, Worldcoin emphasizes “proof of personhood” in response to AI’s influence. World Chain promises cheaper fees and faster speeds, catering to verified humans while integrating bot-vetting for security. Despite criticisms, Worldcoin persists, implementing encryption technology and shipping updates, with recognition from Ethereum founder Vitalik Buterin. Overall, World Chain aims to enhance user experience and trust in cryptocurrencies amidst technological challenges. Via CoinDesk https://lnkd.in/dcsM4gxV

🚨 Korean won surpasses US dollar as the most-traded currency for crypto in Q1❗
📊 According to research firm Kaiko, the South Korean won surpassed the U.S. dollar as the most-used currency for trading crypto in Q1 2024. The cumulative trade volume in won on centralized exchanges reached $456 billion, while the dollar reported $445 billion. South Korea has one of the most active cryptocurrency markets, with five fully licensed exchanges dominating the local market. Data here https://lnkd.in/dA3hXxjr

🟠 Two UAE news (See slides)
⚡QCP Capital and Further Ventures Announce Partnership for Middle East Crypto Expansion
⚡ Microsoft invests $1.5bn in Abu Dhabi’s G42 in a boost to UAE’s AI ambitions

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🟠Hong Kong Bitcoin, Ether ETF Nod 👀Norway Threatens BTC Mining 🔥Bitcoin Miner Nabs 87,000,000% gains ⚽STEPN + adidas❗

🟠 Hong Kong has approved spot Bitcoin and Ether ETFs, enhancing its role as a digital asset hub. Harvest Global Investments Limited . and a partnership involving HashKey Capital Ltd. and Bosera Asset Management Co. (International) Co. received initial approvals. These ETFs use an in-kind subscription and redemption mechanism. OSL Digital Securities Ltd. will provide custodial services. Bloomberg here https://tinyurl.com/3kdse24d

🟠 Perfect timing just a few days before Bitcoin Halving! How will the price of Bitcoin & Ethereum react to this news? Check out Blockchain DXB’s Crypto & Coffee at 8 we share our commentary on this

🔵 Bitcoin Miners Could Be Forced Out of Norway With Data Center Law

Norwegian lawmakers have passed a law requiring data centers to register with the government and report their ownership and services. The government aims to regulate the use of energy for crypto mining operations, with the intention of closing the door entirely on the industry. The new law is the first of its kind in Europe and aims to direct energy consumption towards “socially useful” services and infrastructure. Norway’s energy minister thinks Bitcoin miners cause large greenhouse gas emissions, and wants to push them out — but experts disagree on the evidence. More info via Decrypt here https://tinyurl.com/ms3jdjwa & by local news paper here https://tinyurl.com/3vbmrtpx

👀 A wallet holding 50 BTC, mined back in 2010, has finally moved its stash after 14 years. The BTC, worth $3.2 million today, was primarily transferred to a Coinbase address. This move comes just days before Bitcoin’s halving event, which will cut miner rewards in half. On-chain data shows that the wallet moved 50 BTC today worth $3.2 million. A large part of it went to a Coinbase address. Power of Publicly Verifiable! Anyone can validate this transaction here https://tinyurl.com/ykynxtnh

⚽ STEPN has announced a long-term collaboration with adidas and altsbyadidas to revolutionize the lifestyle app ecosystem and promote global adoption of FSL. This partnership includes co-branded Genesis Sneaker NFTs on Solana, exclusive perks for holders, and more activations to come. The collaboration aims to inspire a healthier, more active lifestyle with digital assets. The co-branded Genesis Sneakers will be raffled on their marketplace, with priority access for adidas and FSL communities before opening to the public on April 18. An allowlist including specific community members is in place, and users are encouraged to set up their accounts by April 16. Info via Twitter (x) here https://tinyurl.com/3dyf5fwm

🟠 Two UAE news (See slides)

⚡ UAE secures $25 billion crypto transactions- DMCC (Dubai Multi Commodities Centre) special report

⚡ Saudi Arabia takes the lead in metaverse adoption Arab News

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15th April: Crypto & Coffee at 8
🔻 Bitcoin🔻 but BTC Dominance 🚀 Binance to stop Ordinals❗ US, UK, Germany Largest Gov crypto hodlers 🌎 Worldcoin metrics

🔻 The price of Bitcoin plummeted after Iran launched missile attacks on Israel, sparking widespread selling of cryptocurrencies. This marked Iran’s first direct assault on Israel, raising fears of a full-scale conflict. Bitcoin dropped 8.07% to $61,710.58, following a previous 5% decline. Despite recent losses, Bitcoin hit an all-time high of $73,750.07 earlier in 2024, with hopes for potential gains surrounding the upcoming Halving event. However Bitcoin Dominance 🚀 has pumped up to 54.44% multiyear high as BTC price volatility sends altcoins shooting lower. But, Dogwiththat & Wormhole has been up by 33.61% & 28.08% respectively

🚨 In a blog post on Thursday, Binance said it will “cease support for trades and deposits of Bitcoin NFTs” starting April 18 at 6:00 UTC. users will no longer be able to buy, deposit, bid on, or list NFTs on the Binance NFT Marketplace via the Bitcoin network. Blog here https://lnkd.in/dusM2N5j Cryptoslam reports that Bitcoin ranks as the second most favored network for NFT trading, with its total trading volume for digital collectibles in the past 30 days challenging Ethereum’s dominance.

👀 According to Arkham Intelligence, a crypto analytics firm, the United States, United Kingdom, and Germany are among the leading countries in terms of government-held cryptocurrencies. The U.S. government tops the list with over 212,847 bitcoins, along with holdings in other cryptocurrencies like ether. The British government follows with 61,245 BTC, and Germany holds 49,859 BTC. Meanwhile, El Salvador has been steadily acquiring cryptocurrencies, particularly bitcoin, with President Nayib Bukele announcing a daily purchase of one bitcoin for the country. As per Arkham’s data, El Salvador currently holds 5,719 BTC. Info here https://lnkd.in/dVTps5WR

🌎Worldcoin reached 10M users, 70M transactions and at least 13 goats bought

❗ Worldcoin’s World App has hit 10 million users, with 2 million daily and over 5 million monthly. Users sign up via eye scans. It aims to provide universal basic income. A user in Kenya bought a goat with Worldcoin, sparking donations that led to 13 goats. The first goat was named “Sam” after Sam Altman, co-founder of Worldcoin and CEO of OpenAI, known for ChatGPT, a leading AI product. Tiago Sada, head of product, engineering and designer at Tools for Humanity, which is developing Worldcoin mentioned via Twitter (X) here https://lnkd.in/duznakE2

🎙️ Check out Blockchain DXB’s Crypto & Coffee at 8 we share our commentary on it. This week we also delve into Bitcoin technical concepts

🟠 Two UAE news (See slides)
⚡ BitOasis welcomes new retail and institutional customers
⚡ NEOPIN, the Permissioned DeFi platform based in Abu Dhabi, announced a new RWA platform.

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🔴 Uniswap received a notice from the SEC about potential enforcement action regarding allegations of acting as an unregistered securities broker and exchange. Uniswap Labs CEO Hayden Adams expressed readiness to fight, emphasizing confidence in their legality and frustration with the SEC’s focus. The company denies its tokens are securities and criticizes the SEC’s approach. Uniswap argues U.S. Securities and Exchange Commission lacks congressional authority to regulate crypto markets, pointing to stalled regulatory efforts. The situation reflects broader regulatory uncertainty in the crypto industry. https://lnkd.in/dAsATPdv

💯 First Digital is expanding the usage of its stablecoin FDUSD among DeFi users. FDUSD has become the fourth-largest stablecoin with a market capitalization of $3.3 billion. The token has gained popularity due to Binance’s trading promotion and has seen a trading volume of over $10 billion in the past 24 hours, primarily from BTC, ETH, and USDT trading pairs on Binance. More info via CoinDesk here https://lnkd.in/dKJb-Yqj

📊 The Bitcoin network is experiencing a surge in “Ordinals inscriptions,” similar to NFTs, where digital content is inscribed onto individual satoshis, the smallest unit of Bitcoin. This trend has led to over 65 million inscriptions, generating over $458 million in network fees. This development coincides with the approaching halving event, reducing block rewards. Additionally, there’s a growing interest in incorporating Ordinals into Bitcoin decentralized finance (BTCFi), potentially leveraging layer 2 solutions to enable services like lending and derivatives markets. Info via Dune-Data 

👀 A database with the personal information of over 5 million Salvadorans was recently leaked in a data breach forum. The database, which has been around since August and has recently been linked to Chivo, El Salvador’s national cryptocurrency wallet, has 144GB of data, including the full name, unique identity number, date of birth, address, and an HD pic of every user. Info via Bitcoin here https://lnkd.in/dnezdX4K 

🔴 Bitfinex Securities and Inversiones Laguardia S.A. de C.V. have launched El Salvador’s first tokenized debt offering, aiming to raise $6.25 million through the HILSV token on the Liquid Network. This initiative supports the construction of a Hampton by Hilton hotel complex at the international airport, reflecting El Salvador’s evolving digital asset landscape since adopting bitcoin as legal tender in 2021. Info via the blog here https://lnkd.in/dRgQFUjK 

⚡ Two UAE news
⚡ Dubai crypto watchdog aims to ease burdens for small entities- Paris Blockchain Week
⚡ aramco and GCT Semiconductor sign 5G, AI deal in Saudi Arabia

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🚀 Bidenflation: In March, the CPI for All Urban Consumers increased 0.4 per cent, seasonally adjusted, and rose 3.5 per cent over the last 12 months, In anticipate of this news Crypto is down Inflation data can be found here https://lnkd.in/dMFScFke. The latest consumer-price index is a critical data point for the Federal Reserve System, based on this he would decide to increase the interest hike.
❗ How will this news impact the price of Bitcoin & Cryptocurrencies?
👀 Biden’s 2025 budget proposal introduces regulatory changes for cryptocurrency. Two changes aim to align crypto trading with traditional finance rules, seen as positive steps. However, a controversial 30% tax on cryptocurrency mining electricity is included, risking driving miners overseas. Critics argue it fails to differentiate between sustainable and nonrenewable sources, potentially harming the industry’s growth. The administration is urged to reconsider and focus on lighter reforms for crypto mining concerns. Info via Cointelegraph https://lnkd.in/dtqr5sG8

🔴 Meanwhile, Republican Sen. Tillis Calls for ‘Light’ Crypto Regulatory Framework Ahead of Presidential Elections. 🔵 However Democratic Wally Adeyemo Deputy Treasury Secretary is asking Congress for increased powers to go after crypto crime. via CoinDesk https://lnkd.in/dbd_y7SJ

⚡ Reuters states Hong Kong set to approve its first spot bitcoin ETFs in April. Article here https://lnkd.in/dkVhYgR6 Hong Kong is set to approve its first spot bitcoin ETFs, becoming a leader in Asia’s crypto investment market. Regulators are expediting approval to enhance the city’s financial appeal, aiming to attract global investment and foster crypto adoption. Mainland Chinese and Hong Kong asset managers are applying for approval, signalling strong interest despite cryptocurrency trading bans in mainland China. Previous approvals for cryptocurrency futures ETFs in 2022 have seen significant growth. Hong Kong-based Value Partners is also exploring a spot bitcoin ETF launch.

🚨 A16z Releases Jolt, a ‘Zero-Knowledge Virtual Machine’. The release is the product of a16z’s first foray into deep-tech research.
- Jolt, supported by RISC-V ISA and Rust programming language, allows programmers to verify application execution and generate proofs of correctness. According to Eddy Lazzarin of a16z crypto, Jolt claims to be “10x” faster than its closest competitor, RISC Zero. ZK cryptography, with its mathematical proofs called “ZK proofs,” has applications beyond blockchain. However, it has gained prominence alongside the blockchain industry’s growth, aiding in fee reduction, speed enhancement, and transaction privacy preservation.

⚡ Two UAE news
⚡ Crypto.com’s Dubai Entity Receives Full Operational Approval
⚡ SDAIA | سدايا enhances Umrah services with AI and secure digital solutions

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👀Solana Network congestion 🔻PayPal stablecoin down by 38%🔻 MicroStrategy and Coinbase stock 🚀 Base 1 in 6 memes are scams 👀

👀 The Solana network is experiencing significant congestion problems, resulting in a staggering 70% failure rate for transactions

🔴 Solana, known for speed and low fees, faces congestion, with 70% of transactions failing. Anza developers are addressing issues linked to internet protocols. Memecoin speculation and bot trading contribute to increased traffic. Anatoly Yakovenko notes the technical challenges in fixing the network. Scalability remains a concern. This highlights the need for robust network design and continuous development in blockchain.

Last week Solana (SOL) and its associated tokens, including Wormhole (W) and Dogwifhat (WIF), have experienced significant losses in the past 24 hours. SOL is down 7%, while W and WIF have dropped by 17% and 12% respectively. Congestion issues on the Solana network have contributed to these declines.

❓How will Centralized Blockchain Solana fix the issue?

🔴 In March, the circulation of PayPal’s stablecoin, PYUSD, dropped by 39% compared to February, totaling $188.5 million. The stablecoin’s circulation peaked in February and January at $304 million and $301 million, respectively. As of March 29, the PayPal USD treasury included $14.9 million in United States Treasury bonds. Despite the drop, PYUSD remains backed by U.S. dollar deposits and Treasurys. Market capitalization for PYUSD has declined since late February but recently saw a 3% increase, reaching $194 million. Launched in August 2023 in collaboration with Paxos Trust, PYUSD has gained prominence as the 13th largest stablecoin by market capitalization.

🚀 Bitcoin’s surge near $72,000 has boosted the stock prices of companies tied to the cryptocurrency. MicroStrategy’s stock rose over 6% to $1,531.67, driven by its aggressive Bitcoin acquisitions totaling $15 billion. Coinbase, America’s largest crypto exchange, also saw a 6% increase, reaching $255.99 per share. Tesla, holding over 9,000 BTC, saw a 5% rise in its stock price. Bitcoin mining companies like Hut 8 Crop and CleanSpark experienced marginal increases as well. Via Decrypt here https://lnkd.in/dJbJrSdP

❗ Base, a Layer 2 blockchain, was launched by Coinbase to improve Ethereum’s scalability and speed. However 1 in 6 new Base meme coins are scams, 91% have vulnerabilities The tokens were analyzed by automated auditors on the trading analytics platform DEXTools to determine whether each project has implemented three fundamental security measures: locked liquidity, verified contracts and absence of honeypots. More info via Cointelegraph here https://lnkd.in/dRZDrQQc Check out our commentary on this

🟠 Two UAE news

⚡ Metaverse: The Hype, Reality & New World Order by Blockchain DXB 15th April

Registration Link here: https://tinyurl.com/y9k2nenv

⚡ Central Bank Digital Currency: The Basics, Threats to Freedom & role in the Metaverse 15th April Registration Link here https://tinyurl.com/3x585j5c For slides click here https://tinyurl.com/47bnpjes

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08th April: Crypto & Coffee at 8
💡 Ripple stablecoin 👀 Do Kwon & Terraform Labs Liable for Fraud❗ 🤘🏻Avenged Sevenfold NFT ⚫BlackRock ETF update

Ripple, plans to launch a U.S. dollar stablecoin, entering the $150 billion market currently dominated by Tether and Circle. Backed 1-to-1 by assets like U.S. dollar deposits and government bonds, Ripple’s stablecoin aims to provide stability in the cryptocurrency market. CEO Brad Garlinghouse cites instability among competitors as a driving factor. Despite ongoing legal challenges from the SEC, Ripple remains optimistic about its stablecoin’s role in expanding the XRP ecosystem and its overall future. More info via CNBC here https://lnkd.in/dKwGaNTd

🔴 How will a Ripple stablecoin impact XRP?
❗ Jeremy Allaire, the CEO of stablecoin issuer Circle, has welcomed Ripple’s entrance into the market. He said it was “encouraging to see more companies taking a compliance-first approach to building on-chain dollars.”

👀 A Manhattan jury found Terraform Labs and its co-founder Do Kwon liable for civil fraud charges by the SEC regarding the $40 billion collapse of the Terra ecosystem in May 2022. They misled investors about the stability of Terra USD (UST) and the Terra blockchain’s use cases. The algorithm behind UST’s peg to the dollar was misrepresented, relying on continuous trading instead of self-healing capabilities as claimed. Kwon, currently in Montenegro facing criminal charges in the U.S. and South Korea, awaits extradition decisions amid ongoing legal battles. Official statement from U.S. Securities and Exchange Commission https://lnkd.in/diC6xeUP

🤘🏻 Avenged Sevenfold’s Season Pass is Turning Heavy Metal Fans Into Blockchain ‘Evangelists’
❗ Avenged Sevenfold launches Season Pass, a decentralized fan rewards platform akin to Fortnite’s battle pass, built on Polygon. Frontman M. Shadows aims to gradually introduce fans to Web3, turning them into advocates. Fans earn rewards for engaging in band-related activities, tradable on third-party marketplaces. Leveraging their established fanbase, Avenged Sevenfold drives Web3 adoption despite initial challenges. They aim to lead by example, proving the utility of Web3 for musicians and fans alike. Info via Decrypt here https://lnkd.in/dA2WZvQC 

⚫ BlackRock has expanded the list of authorized participants (APs) for the iShares Bitcoin Trust by adding Goldman Sachs, Citigroup USA Inc., UBS, Citadel Securities, and ABN AMRO. With these additions, the total number of APs now stands at nine, including existing participants Jane Street Capital, LLC, J.P. Morgan, Macquarie Group, and VIRTU AMERICAS LLC. Typically, popular ETFs feature more than a dozen APs. They continue to attract billions of dollars from investors. Filings with SEC here https://lnkd.in/dEk8vKha 

🟠 Two UAE news (See slides)
⚡ Crypto Polo Cup set to debut in Dubai, uniting world-class Polo players and Web3 enthusiasts
⚡ Abu Dhabi to host The Bitcoin Mena Conference in 2024

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04th April: Crypto & Coffee at 8
❗ Franklin Templeton & Bitcoin Ordinals ❗ Ethereum ETF update 😱US govt transfer 30,174 (Silk Road to Coinbase) 🔥KuCoin Market Share Slashes in Half

🚀 The Rise of Bitcoin Ordinals
❗ Franklin Templeton mentioned via Twitter (X) The Rise of Bitcoin Ordinals
https://lnkd.in/dACU7Pcc Franklin Templeton Digital Assets notes a surge in Bitcoin NFTs, particularly Ordinals, reflecting positive momentum in digital asset innovation. The firm highlights the growth of Ordinal collections like NodeMonkes and Runestone, indicating increased dominance in trading volume compared to ETH. Franklin Templeton has shown progressive interest in digital assets, investing in infrastructure startups, with Runestone gaining attention as a significant NFT collection.

💡 The U.S. Securities and Exchange Commission is seeking public input on proposed rule changes allowing three spot Ether exchange-traded funds (ETFs) to be listed and traded on exchanges. Bitwise Inc, Fidelity Investments, and Grayscale have submitted proposals, with a 21-day comment period. The SEC’s final decision, expected in May, has prompted concerns, with analysts noting the absence of communication as potentially concerning. However Bloomberg ETF analyst James Seyffart, CFA, CAIA expressed concern on April 2, noting that the lack of communication from the SEC does not indicate any changes in the situation regarding Ethereum ETF approval His tweet here https://lnkd.in/dSW48H8k

🚨 23rd May we find out the outcome! How will it impact the price of Ethereum?

👀 On 2nd April The US Government transferred 0,174 hashtag#Bitcoin worth $2.1 
billion seized from Silk Road to Coinbase. The wallet reportedly linked to the U.S. Justice Department (DOJ) initiated a 0.001 BTC transaction to a Coinbase Prime address. However, shortly afterwards, the wallet transferred 30,174 BTC. 
❗ Anyone can validate the transaction here https://lnkd.in/dWUarejf
👀 The power of Open Blockchain is Publicly Verifiable! Internet Detectives identified that the Bitcoin-holding wallet was seized from James Zhong, who was convicted in 2022. For context, Zhong was convicted for stealing over 51,680 bitcoins from the online black market Silk Road between 2012 and 2014. 

🔥 KuCoin, a major crypto exchange, sees its market share halve after US regulators file complaints alleging illegal activities. Users withdraw funds in panic, causing trading volume to plummet by 75%. Despite challenges, KuCoin remains operational and initiates a $9 million airdrop for affected users. Regulatory scrutiny persists as founders remain at large.

🟠Two UAE news (See slides)
⚡ First Abu Dhabi Bank (FAB) Bank partners Microsoft to develop new AI-powered banking capabilities 
⚡ ARP Digital: Digital Asset Platform With Ex-Goldman Partner as Co-Founder Gets Bahrain Crypto License
hashtag#blockchaindxb

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Guest: Timothy Mangnall, Founder of Fango & CEO at Capital Block

Host: RA George, Blockchain DXB

Date: 02nd  April  Time: 14:00

Contact details for Timothy Mangnall & Fango

LinkedIn: https://tinyurl.com/mrv29m4d

email: tim@fango.world

Website: https://fangolabs.tech/

Youtube: https://tinyurl.com/f28v6sp3

Telegram: https://t.me/fangoportal

Twitter (X) @fangolabs

Pitch Deck: https://docsend.com/view/y3y7bv8tm7rzd22j

Summary of the conversation

- Tim shared his extensive background in the sports industry, including experiences with renowned football clubs in London and Turkey.

- He introduced his business, Capital Block, which aids sports organizations in utilizing Web3 technology.

- Tim mentioned that his involvement with Bitcoin began in 2012 but deepened in 2017.

- He discussed the intersection of blockchain and football clubs, detailing various partnerships in this realm.

- Tim expressed his thoughts on the merging of sports and blockchain technology.

- Tim provided his candid opinion on clubs launching NFTs, as well as his YouTube video titled "How Crypto Ruined Football and What's Next?"

- He explained the shortcomings in some NFT utilities.

- Tim elaborated on Fango, its services, inspiration for its launch, and the diverse team behind it.

- Fango's focus on the MENA region was highlighted, along with reasons why it's an ideal market, according to Tim.

- Problems outlined in Fango's pitch deck and solutions offered for fans, the crypto community, and broadcasters were discussed, as Tim pointed out.

- Key features of Fango, encompassing gaming, highlights, purchases, merchandise, and unique experiences, were highlighted by Tim.

- Tim explained the incorporation of various sports into the Fango app.

- He shared insights into his relationship with Middle Eastern broadcasters and the target demographics for the Fango app.

- Benefits for sponsors advertising on the app were discussed, according to Tim.

- Partnerships with Saudi broadcasters and the differing business models were outlined by Tim.

- Tim discussed the challenges faced by Fango and strategies for overcoming them.

- Reasons for building the Fango app on Ethereum and the role of Fango Token were explained by Tim.

- Token utilities, including predictions, subscriptions, and governance voting, were detailed by Tim.

- Tim discussed the question generated by ChatGPT4 regarding Fango.

- The impact of ETFs, Bitcoin halving, Ethereum ETF, and US elections on Fango were discussed by Tim.

- Contingency plans for Fango and a focus on the business aspect were emphasized by Tim.

- Tim's music preferences and a question about a boxing event were also touched upon.

03rd April: Crypto & Coffee at 8 
🚨The U.S. Dollar Index vs Bitcoin (What caused the dump) ❗AUSD — Stablecoin by VanEck 🔵Tron 🆚 SEC 🎼Music 🆚 Ai

🔥 A strong dollar = Bad for Bitcoin
🔻 Bitcoin’s price dip today appears to have been set off by strong U.S. factory data that sent the U.S. dollar index above 105.00 for the first time in almost five months.

❗ Yesterday, the Institute for Supply Management (ISM) reported a rise in March’s Purchasing Managers’ Index (PMI) to 50.3%, up from February’s 47.8%. 
❗ This uptick in U.S. factory data could strengthen U.S. exports, potentially boosting the dollar against other currencies. A stronger dollar may, in turn, hinder Bitcoin’s recent performance.

🎙️ Check out Blockchain DXB podcast we explain this in detail such as 
- What Is the U.S. Dollar Index?
- How Is the U.S. Dollar Index Used?
- What Makes the U.S. Dollar Strong?
- Why Does the Strong Dollar Matter?
- How does it impact the Bitcoin & Cryptocurrency market?

🚨 AGORA- AUSD
- Nick Van Eck, backed by his family’s investment firm, launches a stablecoin through startup Agora with $12 million in funding. Agora aims to offer stability in the volatile crypto market, focusing on users outside the US. Managed by VanEck, the stablecoin is backed by cash and US Treasury bills. The stablecoin, backed by cash, US Treasury bills, and overnight repurchase agreements, will be managed by VanEck. While focused on customers outside the US due to regulatory uncertainties, Agora seeks to establish transparency and trust in stablecoin reserveAgora seeks partnerships with exchanges and crypto companies, avoiding the issuance of governance tokens. Van Eck aims to drive industry progress and establish trust in stablecoin reserves. info via Bloomberg here https://lnkd.in/e3DGmXpT

Can the UAE government in partnership with a private firm launch a stablecoin?

🚨 The Tron Foundation has filed a motion to dismiss the U.S. Securities and Exchange Commission lawsuit against it, arguing that the regulator’s attempt to apply US security laws to “predominantly foreign conduct” goes “too far.” The Tron Foundation claims that the tokens were sold “entirely overseas” and that steps were taken to avoid the US market. The foundation also argues that the SEC’s claim of unregistered US securities is “tenuous at best.” Tron Foundation said in a March 28 dismissal motion in a New York federal court here https://lnkd.in/eNjdPM2u 

🔥 Hundreds of musicians and songwriters have joined an open letter from the Artist Rights Alliance, urging action to halt what they see as the devaluation of artists’ work in the music industry due to artificial intelligence. Info via Medium here https://lnkd.in/en2SPm9P

🟠 Two UAE news (See slides)
⚡ Deribit’s Dubai-Based Unit Wins Conditional VASP License
⚡ Bitget partners with Onramp.money for seamless AED/NGN-to-Crypto transactions

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02nd April: Crypto & Coffee at 8 
🔻Crypto bloodbath🔻Tether.to adds BTC to its holdings🔥 UpBit volume crashes by 75% 🚨Solana Solana DeFi vol +Telegram bot drained 💰A16Z to invest $30M 

🔻Crypto Market “ Do you bleed” The Fear & Greed Index has changed from 90 Extreme Greed to 79 Greed in 24 hours as Billions are lost in crypto and the global crypto market looks RED. Check out Blockchain DXB podcast we share commentary on this & more

⚡Arkham Intelligence is stating, Tether.to the issuer of USDT, the world’s largest stablecoin based on market cap, added just shy of 8,888 bitcoin (BTC) in the first quarter. That wallet is now the holder of 75,354 bitcoins worth about $5.2 billion at BTC’s current price of $69,000, putting Tether’s profit at roughly $3 billion. Transactions tracked on the blockchain show 8,888 BTC were recently sent from the crypto exchange Bitfinex to an undisclosed Tether wallet. Details of the wallet can be seen here https://lnkd.in/dQqn5dD5 

🔻 The trading volume on South Korea’s UpBit exchange has plummeted by 75% from its peak in March, signaling a significant slowdown in altcoin trading beyond major cryptocurrencies like Bitcoin and Ethereum. The surge earlier was driven by factors like upgrades and political developments, but as volumes declined, questions arose about the sustainability of the altcoin rally. South Korean investors, particularly on Upbit, have shown a strong interest in altcoins despite high risks. This decline in volume suggests a shift away from the frenzied altcoin trading seen earlier, raising doubts about their continued valuation. CoinDesk https://lnkd.in/dcdiXNc3

🔻Solana’s decentralized exchanges (DEXs) saw a record-breaking trading volume of over $58.4 billion in March, driven by the meme coin frenzy. However, Solareum, a Telegram trading bot, shut down after a security exploit drained $523,000 worth of SOL from user wallets. Over 300 users were affected, initially suspected to be linked to BONKbot but later attributed to Solareum. Despite efforts to address the issue, users demand compensation, underscoring risks in crypto trading platforms.

💰 VC firm Andreessen Horowitz (a16z) is investing $30 million in technology-centric gaming startups through its early-stage accelerator program called SPEEDRUN. The investment will be spread over the next 45 days, with each selected startup receiving $750,000. The program is open to startups at various stages, from ideation to those with established products and revenue. Competition for admission is intense, with only 1% of applicants accepted in the last cohort. However, 80% of companies from the first cohort secured funding from investors after Demo Day. Info via Andrew Chen Twitter here https://lnkd.in/dt39s6HF

🟠Two UAE news
⚡ Web3’s largest Account Abstraction provider, Biconomy, receives strategic investment from Major Investors
⚡ Riyadh Air | طيران الرياض and Artefact partner to build data analytics platform, develop AI solutions

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

01st April: Crypto & Coffee at 8 
🚨 IMF suggest stablecoins and CBDCs 🟢Vitalik Buterin’s Ethereum’s scaling roadmap ⚡Base sets DEX record ❗Sam Bankman-Fried update

🚨 The International Monetary Fund suggests that digital money like stablecoins and CBDCs could benefit Pacific Island countries (PICs) by improving financial inclusion and payment systems. They advocate for a two-tier CBDC model for PICs with existing currencies and mature banking systems, and foreign currency-based stablecoins for others, with robust regulation. While acknowledging the potential of private stablecoins like Tether (USDT), the IMF emphasizes the exploration of CBDCs by countries like Fiji, Palau, Solomon Islands, and Vanuatu. IMF Managing Director Kristalina Georgieva believes CBDCs can coexist with private money as a safe and low-cost alternative to cash. Info here https://lnkd.in/dT9NvG5N 

🟢 Vitalik Buterin in a blog post on Thursday, March 28 titled Ethereum has blobs. Where do we go from here? outlines the next steps in the network’s scaling journey. More info here https://lnkd.in/dP4xQrwc . Following the Dencun upgrade on Ethereum’s Layer 2 chains, Vitalik Buterin, Ethereum’s co-founder, addresses the emergence of “blobscriptions,” which are inscriptions on blobs affecting scalability and increasing fees. Buterin emphasizes the transition towards focusing on Layer 2 scaling solutions after the foundational work laid by the upgrade. He mentions data availability sampling (DAS) as a key improvement to alleviate node workload and enhance blob space efficiency. Buterin also suggests exploring data compression and Plasma techniques for Layer 2 enhancements. Despite challenges, Layer 2 fees remain lower than Ethereum mainnet fees, and the roadmap for Ethereum’s scaling continues with the focus on Layer 2 improvements.

🚨 Coinbase’s Ethereum layer-2 network, Base, has broken its 24-hour trading volume record on decentralized exchanges (DEX), soaring by approximately 25% compared to the previous day and exceeding $1 billion in trading volume. On March 30, Base saw a trading volume of $1.21 billion on DEX platforms, marking a significant increase from the previous day’s $959.63 million, as reported by Dune data. The majority of trading activity took place on Uniswap, which contributed 64.3% of the total volume, followed by Aerodrome Finance with 9.7%, and SharkSwap with 7.8%. Info via Dune-Data https://lnkd.in/dDif3GaY

🚔 Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison by Judge Lewis Kaplan of the United States District Court for the Southern District of New York. Bankman-Fried convicted on seven felony charges including witness tampering and perjury related to FTX user funds. He’s the first person tied to FTX and Alameda Research to face prison time.

🟠 Two UAE news (See slides)
⚡ Climate Cron cryptocurrency revolutionising Dubai real estate transactions
⚡ PwC and Microsoft launch AI Centre of Excellence in Riyadh
hashtag#blockchaindxb

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

BlackRock CEO Larry Fink stated that despite potential regulatory scrutiny if Ethereum’s ether is designated as a security by the U.S. Securities and Exchange Commission (SEC), BlackRock could still consider listing an ETF that includes ether. Fink made these comments during an interview on Fox Business. He suggested that even if ether were classified as a security, BlackRock might proceed with an ETF for it, similar to their bitcoin ETF introduced Eight potential issuers, including BlackRock, have submitted filings with the SEC to bring a spot ether exchange-traded fund (ETF) to the market. The final decision by the regulator is due on 23rd May Info via 
CoinDesk https://tinyurl.com/yj5rcx98

The Bitcoins movement was the separation of Money and the State- Has the role of the state been replaced by BlackRock?

Gaza Now and its founder, Mustafa Ayash, were sanctioned by the U.S. and the U.K. for facilitating crypto donations to Hamas post an October 7 attack in Israel. Elliptic found Gaza Now received $21,000 in crypto donations. Most donations, per TRM Labs, are under $500. OFAC and the U.K.’s Office of Foreign Sanctions Implementation listed crypto addresses linked to Gaza Now’s fundraising. This follows sanctions against other entities supporting Hamas, like Buy Cash in October 2023. The U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) and the U.K.’s Office of Foreign Sanctions Implementation also issued sanctions against Gaza Now’s founder, Mustafa Ayash Official info here https://tinyurl.com/dd6rhbes

Can Ehereum validators produce these blocks? If yes what are the consequences?

KuCoin has experienced a net outflow of over $780 million across multiple chains in the past 24 hours following charges lodged against it by the U.S. Department of Justice. The outflow is a result of a total outflow of $882 million and an inflow of $99 million, resulting in a net outflow of $783 million. The exodus from KuCoin comes after the DOJ indictment and allegations of violating anti-money laundering laws. Info via The Block here https://tinyurl.com/a7mmxp6s

Whale Alert also mentioned via Twitter 2T SHIB Leaves KuCoin Amid Mounting Legal Troubles https://tinyurl.com/7a6zwn3p

Dutch prosecutors are seeking a 64-month jail sentence for Alexey Pertsev, the developer of Tornado Cash, in a money laundering trial. The verdict is expected on May 14 after a two-day trial held in the ‘S-Hertogenbosch court. Pertsev is accused of laundering $1.2 billion through Tornado Cash between July 9, 2019, and Aug. 10, 2022. He was initially jailed in the Netherlands in August 2022, shortly after Tornado Cash was blacklisted by the U.S. Treasury, which alleged links to the Lazarus Group, responsible for a $625 million hack of Axie Infinity’s Ronin Network. The trial’s outcome could have broader implications for how developers of open-source projects are treated in courts worldwide.

Two UAE news ( See slides)
Saudi Arabia — Outlier Ventures and The National Technology Development Program launch Web3 Accelerator Partnership
Dubai Trade to leverage AI for better efficiency

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🔥KuCoin Exchange charged by U.S. federal prosecutors 🚨 Tether.to AI venture ❗WAX Signs Deal With AWS 🔴Joe Biden Memecoin

🔥 Prominent Global Cryptocurrency Exchange KuCoin And Two Of Its Founders Criminally Charged With Bank Secrecy Act And Unlicensed Money Transmission Offenses Official info here https://tinyurl.com/3u5u67y2

🔥 The indictment alleges that KuCoin knowingly allowed substantial U.S. user activity without implementing adequate anti-money laundering measures. They failed to conduct proper customer identity verification until 2023 and actively prevented U.S. customers from identifying themselves. As a result, KuCoin facilitated the laundering of billions in criminal proceeds. Gan and Tang, both Chinese citizens, face charges for conspiring to violate the Bank Secrecy Act and operate an unlicensed money-transmitting business.

🚨 Tether.to Expands AI Focus

💯 Tether.to, the leading company in the cryptocurrency industry, is expanding its focus on artificial intelligence (AI) to drive innovation and accessibility in technology. With a market capitalization exceeding $100 billion, Tether aims to pioneer open-source AI models, integrate AI solutions into market-driven products, and engage with the community to advance open AI. The company also announces a global recruitment drive for top-tier AI talent to contribute to its new division, aligning with its commitment to revolutionising technology.Official info here https://tinyurl.com/5fdrtrwb

🔥 Worldwide Asset eXchange (WAX), a gaming-focused layer-1 blockchain, has inked a deal to leverage Amazon Web Services (AWS) and integrate its network into the Amazon Managed Blockchain (AMB) service. This integration allows WAX developers to utilize AMB, designed to aid in building decentralized apps (dapps) on both private and public blockchains. By integrating with AMB, WAX developers gain the ability to deploy nodes through the AWS console and leverage them for building on the WAX blockchain. Info via Business Insider https://tinyurl.com/38m6mjf2

🚀 Over the past 30 days WAX has facilitated 141 million transactions with 666,000 unique active wallets, data from DappRadar shows. The network hosts 160 Web3 games on its platform, including Brawlers, a trading card game that became a part of the Amazon Prime Gaming service alongside the likes of Apex Legends and Call of Duty.

😂 Jeo Boden (BODEN), a Solana memecoin parody of United States President Joe Biden, has surpassed $250 million in market cap with a gain of 54% within the past 24 hours as of March 25. The memecoin is only available on the Solana decentralized exchange Raydium and is not yet listed on any centralized platforms. More info https://tinyurl.com/3uktvyax

🟠 Two UAE news (See slides)

⚡ eesee.io receives strategic investment from and partners with Animoca Brands

⚡ Abu Dhabi School of Management (ADSM) launches Bachelor of Science in Management programme focussing on AI

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🔥SEC vs Ripple $2B fine 🚨Sanctions on the SEC 🚀 Coinbase Stock 🚀🚔Binance Executive “Jailbreaks” in Nigeria❗

🔥 The U.S. Securities and Exchange Commission (SEC) plans to seek $2 billion in penalties from Ripple, according to the company’s chief legal officer. The SEC has been engaged in a legal battle with Ripple since 2020, alleging that the company sold unregistered securities in the form of XRP. While Ripple scored a partial win last year, investors and Ripple Labs interpreted the ruling as a victory for the broader crypto industry. Stuart Alderoty mentioned via Twitter “As you will see when the SEC’s brief is made public tomorrow, they ask the Judge for $2B in fines and penalties” his tweet here https://tinyurl.com/mr7yw57z Check out Blockchain DXB’ Crypto & Coffee at 8 podcast we share our opinion on this & more

🚨A United States district court has imposed sanctions on the U.S. Securities and Exchange Commission Commission (SEC) for acting in “bad faith” in its lawsuit against DEBT Box. The judge in the Debt Box case has issued an 80 page opinion sanctioning the SEC for egregious misconduct in the case.

❗ The SEC initially filed a motion to dismiss without prejudice, but that was denied by Judge Robert J Shelby, who slammed the regulator for intentionally lying to the court about evidence it obtained to secure a temporary restraining order (TRO) and freeze of Debt Box’s assets last August. Cointelegraph here https://tinyurl.com/4cth79jh

🚀 Coinbase stock is surging alongside Bitcoin, reaching its highest price since November 2021. The company’s stock has jumped by 44% in the past month and is up 346% over the past year. Despite experiencing outages during bullish surges, Coinbase remains America’s largest crypto exchange and recently reported a profit of $273.4 million. More info via Decrypt here https://tinyurl.com/ec2ntuh4

😱 According to local media reports by on March 25, Binance Africa’s regional manager, Nadeem Anjarwalla, reportedly escaped from Nigerian custody along with his colleague, Tigray Gambaryan. The escape allegedly took place on March 22, 2024, when Anjarwalla was escorted for Ramadan prayers. Despite authorities confiscating his British passport, Anjarwalla managed to flee using his Kenyan passport, prompting an investigation into how he obtained it. The incident has resulted in increased charges against Binance for tax evasion. Meanwhile, Gambaryan remains in custody, while Binance claims to be working on facilitating the executives’ return home. Info here https://tinyurl.com/2sazfy45 BBC also states The country is now “working with Interpol for an international arrest warrant on the suspect”, the Office of the National Security Adviser (ONSA) said in a statement. https://tinyurl.com/uz4x4rtb

🟠Two UAE news (See slides)

⚡Central Bank of The UAE bank introduces wholesale, retail digital dirham strategy

⚡ Nexon opens blockchain game corporations in the UAE

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🌐 **25th March — Crypto & Coffee at 8 ☕**
Exciting updates from the world of cryptocurrency and blockchain by Blockchain DXB
🚨El Salvador bold bitcoin move 
🟢 Polygon ZkEVM offline 
🔥 European Union ban on crypto transactions 
❌ Apple’s M-Series crypto vulnerabilities

🚨 🇸🇻 **El Salvador’s Bold Bitcoin Move**: President Nayib Bukele announces El Salvador’s plan to purchase one bitcoin daily until it becomes financially unfeasible with fiat currencies. This initiative boosts the nation’s bitcoin holdings to 5,690 BTC, valued at approximately $400 million. CoinDesk https://lnkd.in/d8eMbpMP

🔒 **Polygon zkEVM Downtime**: Ethereum Layer 2 blockchain Polygon zkEVM experiences downtime, failing to sequence new blocks for over 10 hours. The team acknowledges the event and plans to release a post-mortem. The Block https://lnkd.in/dF6i2hgQ More info here https://lnkd.in/ds7abVHu)

🇪🇺 **EU Ban on Crypto Transactions**: European Parliament committees approve a ban on cryptocurrency transactions via hosted wallets to expand Anti-Money Laundering laws. The legislation aims to combat money laundering and terrorist financing, challenging the anonymity principle in crypto. Council of the European Union https://lnkd.in/dh3iwN3q

🔐 **Apple’s M-Series Crypto Vulnerabilities**: Security researchers uncover a vulnerability in Apple’s M-series chips, dubbed the “GoFetch exploit,” which could enable hackers to steal cryptographic keys from Apple devices, including crypto wallets. Apple is working on a workaround to mitigate the attack. Decrypt https://lnkd.in/dAf5wnyK

🎙️ Stay updated on the latest developments in the cryptocurrency world. Check out Blockchain DXBs Crypto & Coffee 

🟠 Two UAE news (See slides)
⚡ Metaverse: The Hype, Reality & New World Order by Blockchain DXB 15th April 

⚡ Central Bank Digital Currency: The Basics, Threats to Freedom & role in the Metaverse 15th April

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21st March- Crypto & Coffee at 8
🔴FOMC Meeting = Interest Unchained = Crypto 🚀Ethereum Foundation under inquiry by SEC 🟢Coinbase congestion issues ❌Solana meme coin frenzy

🔴 Federal Reserve Board chair Jerome Powell has decided to keep the interest rate unchained. We strongly recommend listening to the FOMC Press Conference, March 20, 2024 via YouTube here https://lnkd.in/eKi4XtDY Is this a good sign? Not really but the market has reacted positively. The global crypto market has reacted positively.

🔴 Check out Blockchain DXB Crypto & Coffee at 8 we share detailed info on this. Also, see slides 1 & 2 for global snapshot of #defi #stablecoins & #DAPPS

🟢 The Ethereum Foundation is facing questions from an unnamed “state authority,” according to the group’s website’s GitHub repository. The GitHub reads as below

***this commit removes a section of the footer as we have received a vol…

…untary enquiry from a state authority that included a requirement for confidentiality***

🟩 Fortune article states that the U.S. Securities and Exchange Commission is considering classifying ETH as a security, potentially impacting ETH ETFs. Investigative subpoenas have been issued to US companies. The Ethereum Foundation received a confidential inquiry. Previously disclosed government inquiries were removed from their website. A Swiss regulator may also be involved. Analysts doubt SEC approval for Ether ETFs due to limited engagement. Recent SEC activity may relate to an upcoming deadline. https://lnkd.in/edgB9C_8

❗ Is a Swiss regulatory agency involved in requesting information from the Ethereum Foundation?
❗ How will this news impact Ethereum Spot ETF approval?

🟠 Coinbase says transactions may experience “intermittent failures.” this is due to network congestion on Base Network Watcher Guru posted this info via Twitter https://lnkd.in/eNSPWkJ8
- How long will this issue persist?
🚨 Along with Coinbase Centralized Blockchain Solana is also facing similar issues as users have complained and posted screenshots of transactions failing to go through. Solana Labs CEO Anatoly Yakovenko says he thinks meme coin trading is “bizarre,” More info in an interview with CoinDesk here https://lnkd.in/eNhvgiqN

🔥 Also, a user has posted ($122.5M) raised from 27 presales. tweet here https://lnkd.in/emFJcjin

🟠 Two UAE news (See slides )
⚡ Dubai Centre for AI to establish dedicated taskforces within 30 government entities Emirates News Agency — WAM — وكالة أنباء الإمارات — وام
⚡ UAE Council for Artificial Intelligence and Blockchain launches award to enhance competitiveness in future sectors

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20th March- Crypto & Coffee at 8 
🟢 Ethereum ETF update 💰Genesis to Pay SEC $21M Penalty ⚫ BlackRock to Launch a Tokenized Asset Fund 🔵 ‘Giggle Academy’ by Changpeng Zhao

🎙️Check out Blockchain DXB Crypto & Coffee at 8, we share our commentary on the global crypto market

🔴 U.S. Securities and Exchange Commission (SEC) has delayed its decision on proposed spot Ether (ETH) exchange-traded funds (ETFs) by Hashdex and ARK 21Shares. This decision, announced on March 19, came just before the “third deadline,” with final decisions for both ETF applications expected by late May. Specifically, ARK 21Shares will face a final decision on May 24, while Hashdex’s application deadline is set for on or before May 30. Analysts are sceptical about the approval prospects for the eight currently proposed Ether ETFs, expressing concerns about the lack of engagement between the SEC and the issuers. These ETFs come from various entities including BlackRock, Grayscale, Fidelity Investments, Invesco US Galaxy, VanEck, Hashdex, and Franklin Templeton. Info via Cointelegraph here https://lnkd.in/dFE67egS
❗ Bloomberg ETF analyst Eric Balchunas lowered the Ether ETF approval odds from 50% to 35%.

🔴 Genesis Agrees to Pay $21 Million Penalty to Settle SEC Charges
❗ Genesis Global Capital has agreed to pay a $21 million civil penalty to settle charges with the U.S. Securities and Exchange Commission (SEC) over its involvement in the now-defunct Gemini Earn program. The settlement, formalized after a New York judge denied motions by Genesis and Gemini to stop the SEC case, follows bankruptcy filings by Genesis and its affiliates. The SEC will not receive any portion of the penalty until all other allowed claims are paid, as stated by the regulator. SEC Chair Gary Gensler emphasized the importance of enforcing securities laws in the crypto lending space through such settlements. Info here https://lnkd.in/dsj_cJvN

⚫ BlackRock has filed documents with the SEC to launch a tokenized asset fund, the BlackRock USD Institutional Digital Liquidity Fund. The fund’s size was not disclosed, but the minimum investment accepted is $100,000. Speculation suggests that the fund may be Ethereum-based, with stablecoin assets in the basket. Registered in the British Virgin Islands in 2023, the BlackRock USD Institutional Digital Liquidity Fund will act as a pooled investment fund. Official documents filed with Security Exchange Commission here https://lnkd.in/dDXURKap The news of the fund comes amid hopes that a spot Ethereum ETF may be approved

🚨 ‘Giggle Academy’ “the most impactful thing I could do for the next chapter of my life.” — Changpeng Zhao CZ mentioned via Twitter his next project is Giggle Academy — Free basic (grade 1–12 ish) education, for all. No revenue.Gamified. Adaptive.

Two UAE news
⚡ Dubai upskills over 170 government employees in generative AI
⚡ Saudi Arabia plans $40B AI investment fund overseen by a16z crypto: Report

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19th March- Crypto & Coffee at 8 
🔴 USDT — Delisted on OKX (EU) 🔻Grayscale’s GBTC sheds $642M in 24hrs🔻#BTC Flash Crash to $8.9K on BitMEX 🐶 Aichi Sells for $4.3 Million

🔴 OKX, has delisted Tether.to’s USDT stablecoin for users in the European Union and the European Economic Area (EEA). This move aligns with upcoming EU regulations requiring stablecoin issuers to be licensed electronic money institutions. OKX cited regulatory compliance and security concerns for the decision but emphasized a focus on expanding euro-denominated liquidity. Despite the delisting, EEA-based users can still deposit, withdraw, and trade USDT through over-the-counter (OTC) channels. Tether.to has not commented on the situation yet.

🔻 Grayscale Investments’s spot Bitcoin ETF experienced its largest outflow since its conversion on January 11, with over $640 million worth of Bitcoin exiting the fund on March 18. Fidelity’s Bitcoin ETF also saw reduced inflows, leading to a net outflow of $154.3 million for spot Bitcoin ETFs. Despite the recent outflows, analysts remain optimistic about the future of Bitcoin ETF flows, citing potential increases in investor interest. While some attribute Bitcoin’s recent price decline to slowing ETF flows, others point to factors such as the upcoming halving event and the Federal Reserve’s FOMC meeting. However, commentators highlight the remaining Bitcoin holdings in GBTC as a reason for long-term bullishness regarding ETF flows. Info via Farside Investors https://lnkd.in/dPJh43Ty

😱 Bitcoin experienced a flash crash on BitMEX late Monday, dropping to as low as $8,900 due to large sell orders totaling $55.49 million. The crash was short-lived, lasting only a few minutes before rebounding to $67,000. BitMEX is investigating the cause of the sudden sell-off. Despite the crash on BitMEX, the global average price of Bitcoin remained relatively stable around $67,400. BitMEX is investigating unusual activity on its BTC-USDT Spot Market involving large sell orders. However, they assure users that their derivative markets and funds are unaffected, and the platform is operating normally. nfo via CoinDesk here https://lnkd.in/dEd5S_cR

🐶 Aichi — Dogwiththat
🟢 A South Korean couple, owners of the Shiba Inu featured in the Dogwifhat meme, earned $4.1 million from the sale of an Ethereum NFT of the meme. The NFT sold for $4.3 million worth of ETH, making it the most expensive meme NFT ever sold, narrowly surpassing the previous record held by the original Doge NFT. The auction, held on the NFT marketplace, Foundation platform, saw a bidding war between GCR, a prominent crypto trader, and Memeland, an NFT venture collective associated with 9GAG. Crypto tader GCR ultimately secured the NFT with a final bid exceeding $4.3 million. Via Twitter https://lnkd.in/diTvYKW7

Two UAE news (See slides)
⚡ ADU, 5ireChain collaborate to advance blockchain education and research 
⚡Abu Dhabi in talks to invest in OpenAI chip venture

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