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Coin Bureau Insider

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Logo of telegram channel cbinsider — Coin Bureau Insider
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Channel address: @cbinsider
Categories: Cryptocurrencies , Economics
Language: English
Subscribers: 162.27K
Description from channel

Get the latest updates from Guy straight to your Telegram 📲
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- announcement of video's in the pipeline and coin's on our watchlist 👀
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The latest Messages

2022-10-11 16:57:20

11.9K views13:57
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2022-10-11 16:57:16 Hey Guys,

Last week we had the news that OPEC+ would be cutting oil production for the first time since 2020. This was seen as a massive sleight to the Biden administration especially as they had been actively lobbying the Saudi government not to do so.

This at a time when oil & gas prices were just starting to come down. At a time when the US is heading into some midterm elections that could be vital for the incumbent party.

As a result of this, the Biden administration decided to drink again from the forbidden well...

I am of course talking about the Strategic Petroleum Reserve or SPR. While this may have short term relief benefits, it could have serious long-term implications when it comes to the question of energy security. If there is one thing that the crisis in Europe has taught us, it's that energy security is not something that you take lightly.

So, could the US eventually run out of oil in the SPR? And what implications could this have for global geo-politics?

That's exactly what I will be covering today!

I will be taking you through the current dynamics in the oil market and how that is driving prices / policies. I will also analyse how things are likely to play out in the coming weeks & months - especially as those price caps on Russian oil are rolled out.

This is a vid you don't want to miss!

12.0K views13:57
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2022-10-11 15:07:30 “No good solutions are really out there for enforcing royalties and 0% markets are literally growing like weeds in terms of how many there are, pure user growth and volume growth filtered for wash trading. When you look at the data, it's just kind of hard to believe in my mind that most of these [other] marketplaces will not go to 0% royalties.”

Crypto Exchange Coinbase Secures Singapore Digital-Asset Permit

According to an announcement from US crypto exchange Coinbase, the exchange operator has secured an “in-principle approval” to provide crypto services in Singapore from the country’s central bank, the Monetary Authority of Singapore.

Hassan Ahmed, chief executive of Coinbase’s local unit, stated that he sees Singapore as a “strategic market for institutional clients.” He also stated that Singapore plays a key role in Coinbase’s planned expansion in the Asia-Pacific region, where markets like Indonesia and Vietnam are attractive.
12.6K views12:07
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2022-10-11 15:07:29 COIN BUREAU NEWSFLASH! – (11/10/22)
Here are some of today’s most important headlines:

Portugal to Tax Crypto Gains in Next Year’s Budget Plan

According to Portugal’s 2023 draft budget released yesterday, the government is planning to implement a 28% tax rate on gains realised from crypto purchases held for less than a year. So far, Portugal has held the position of being one of the most tax-friendly countries for cryptocurrency holders around the world.

According to the draft budget, creating new cryptocurrencies and cryptocurrency mining operations would also be considered taxable income. Additionally, the government will also impose a 10% tax on the free transfer of cryptocurrencies and a 4% rate on broker commissions charged by intermediaries for cryptocurrency transactions.

However, the budget is still subject to discussions and approval within the Parliament in the coming weeks.

EU Commission Launches Proposal to Study Automated Monitoring of DeFi Activity on Ethereum

The EU’s European Commission, the executive arm of the EU which proposes and enforces legislation, has submitted a bid to study “embedded supervision” of DeFi protocols on the Ethereum blockchain.

The study aims to investigate how financial supervisors could monitor financial activities facilitated on Ethereum in real time. The pilot program is expected to take fifteen months to complete and is estimated to cost €250,000 (approximately $242,500). Applications to participate remain open until December 1.

Polygon’s zkEVM Public Testnet to Enable Smoother Ethereum Migration

Ethereum scaling platform Polygon has announced the launch of its zkEVM Public Testnet. Polygon’s zkEVM scaling solution is an “Ethereum-equivalent” ecosystem with cross-compatibility to existing smart contracts, developer tools and wallets built on Ethereum and Polygon PoS.

The public testnet will allow developers to test the deployment of privacy-enhancing zk-rollups in their decentralised applications. Leading platforms like Aave, Uniswap, Lens and gaming studio Midnight Society are among the first to deploy on the zkEVM testnet.

Transit Swap DeFi Hacker Bags $690,000 Bounty After Returning $2.75M

Yesterday, DeFi protocol Transit Swap announced that it had reached an agreement with its biggest hacker for the return of funds. As per the agreement, Transit Swap will reward the hacker known as “white hat #1” with a bounty worth almost $690,000 in exchange for returning the stolen funds of 10,000 BNB worth about $2.75 million. This also relieves the hacker of all legal liabilities arising from the attack from Transit Swap’s side.

Solana NFT Collection “DeGods” Removes NFT Royalties

According to a tweet from popular Solana NFT project DeGods, the team behind the project has decided to switch to a 0% royalty fee model. This change in policy will apply to the DeGods project as well as its spinoff collections t00bs and y00ts. DeGods stated that while it believes royalties are an “incredible use case” for NFTs, switching to the zero-royalty fee model is the best decision for its business at this time.

In a Twitter space following the announcement, DeGods founder ‘Frank’ cited data showing the growing popularity of 0% royalty marketplaces as a major factor behind the decision. He stated,
12.0K views12:07
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2022-10-10 17:08:58

17.7K views14:08
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2022-10-10 17:08:52 Hey Guys,

It's time for another weekly crypto review. You'll notice this one was particularly macro heavy, because it really seems that that's what investors are paying attention to the most these days. This makes sense as winter is approaching and an energy crisis is coming.

In terms of crypto headlines, I must admit that most of them were fairly depressing. I suppose that's expected during a bear market, but it would be really nice to see some good news for once. Watching decentralised crypto projects slowly centralise is not my cup of tea.

Don't forget to stick around until the end to see my analysis of last week's top performing altcoins. I'm going to try and be a bit more clear about how exactly I'm assessing whether a coin or token is oversold or overbought. Let me know what you think in the comments.

17.4K views14:08
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2022-10-10 15:08:35 COIN BUREAU NEWSFLASH! – (10/10/22)
Here are some of today’s most important headlines:

Uniswap V3 Gets ‘Warped’ Onto StarkNet

Ethereum development company Nethermind has reportedly used its “Warp” project to make a version of decentralised exchange Uniswap available on the Ethereum Layer 2 network StarkNet. Nethermind describes Warp as a "Solidity to Cairo Transpiler" that enables Solidity-based Ethereum projects to migrate their codebase to StarkNet in order to take advantage of lower fees.

Nethermind team lead Jorik Schellekens stated,

"Warp is not about to stop with Uniswap! We will continue working hard on features and repeat this experiment with a few other protocols, bringing new protocols to StarkNet at warp speed."

Defi Startup Arch Raises $5 Million To Become The 'Blackrock of Web3'

DeFi startup Arch, a company that aims to become the "BlackRock of web3," has reportedly raised $5 million in a seed round that was led by Digital Currency Group and SoftBank spinoff Upload Ventures. The round also saw participation from other investors such as the venture arm of Latin America blockchain firm Ripio, TechStars and GBV. The funds raised from the round will reportedly be used to tokenise a wider suite of DeFi indices and to develop the platform into a decentralised asset management protocol.

Crypto Investment Firm Blockwater Technologies Defaults on DeFi Loan

According to a statement from decentralised lending protocol TrueFi, South Korean blockchain investment firm Blockwater Technologies has defaulted on a $3.4 million loan in BUSD issued by the lending protocol. TrueFi issued a “notice of default” to Blockwater on Oct. 6 and has stated that a “potential court-supervised administrative proceeding” would be the best route to recover funds for stakeholders due to the “complexity around the sudden insolvency” of Blockwater.

PayPal Says Policy to Punish Users for Misinformation Was ‘In Error’

Online payment network PayPal has retracted a controversial policy update that could’ve seen users fined $2,500 for spreading “misinformation.” The payment platform claimed that the policy update was published “in error”,

“PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy [...] Our teams are working to correct our policy pages. We’re sorry for the confusion this has caused.”

Crypto believers took the opportunity to reiterate the need for self-custody and decentralisation. Maple Finance co-founder Sid Powell stated,

“PayPal is a good example of why you need to custody your own funds. Your finances used to be decoupled from free speech. Now custodying your own funds is the only way to safeguard that right for yourself.”
16.7K views12:08
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2022-10-09 17:06:54

11.7K views14:06
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2022-10-09 17:06:47 Hey Guys,

The International Monetary Fund or IMF is infamous for its involvement in the finances of foreign countries. Given that crypto is slowly but surely being adopted by the same kinds of countries the IMF targets, it's expected that the IMF would in turn target crypto.

The IMF report I summarise in today's video is filled with lots of what you would expect, but also a few things you would not expect. This includes an acknowledgement that public blockchains are better than private ones, and that crypto cannot be banned.

These significant acknowledgements don't change the fact that the IMF's endgame with this report and others is to establish global crypto regulations. The kinds of crypto regulations the IMF wants to see aren't that retail investor friendly.

And that's just the tip of the iceberg...
11.7K views14:06
Open / Comment
2022-10-09 14:10:26 COIN BUREAU NEWSFLASH! – (09/10/22)
Here are some of today’s most important headlines:

US DOC Agency NIST Explores Security, Safety, and Trust Of Stablecoins

The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has released an initial public draft addressing the many security issues related to the design and use of stablecoins.

The report found that the top five stablecoins that retained their peg were USDT, USDC, BUSD, DAI and FRAX. It also noted that these coins represented 87 % of the total top 20 coins market capitalisation. The report also claims that while decentralised finance (DeFi) is typically more vulnerable to security issues due to increasing smart contract code complexity and critical functionality, centralised finance (CeFi) architectures are typically more vulnerable to trust issues due to a greater reliance on human trustworthiness.

OpenSea CFO Leaves Less Than One Year After Joining

OpenSea CFO Brian Roberts is the latest to join the growing number of crypto executives that have been leaving their positions or exiting the industry. According to a LinkedIn update posted on Friday, Roberts has left the NFT marketplace company less than a year since joining. The update further states that he will remain on as an advisor to the firm.

Brazillian Police Raid ‘Bitcoin Sheikh’ for Defrauding Victims of $766M

A crypto fraud ring believed to have defrauded investors of up to 4 billion reals ($768 million) through fraudulent crypto products has been dismantled by authorities in the U.S. and Brazil. 100 Brazilian police agents reportedly raided 20 addresses linked to the crypto fraud network controlled by Francisco Valdevino da Silva, aka “Sheikh dos Bitcoins.”

The operation allegedly deceived "thousands of victims" by offering services that promised monthly returns of up to 20% of the amount they invested. Victims of the scam include several domestic celebrities such as Sasha Meneghel, daughter of Brazilian television star Xuxa and several unnamed soccer players.

Dapper Labs Restricts Services to Russia Amid EU Sanctions

According to an announcement from Dapper Labs, the NFT collectables giant has cut off payment services for non-fungible token owners with links to Russia. It cited the European Union sanctions as the reason for doing so. Impacted users can still look at their NFTs, but they cannot move funds, gift tokens, sell NFTs or buy new ones.
13.1K views11:10
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