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The latest Messages 2

2023-05-12 15:02:44 COIN BUREAU NEWSFLASH! – (12/05/23)
Here are some of today’s most important headlines:

NBCUniversal’s Linda Yaccarino Is in Talks to Become Twitter CEO

According to a Wall Street Journal report, Twitter CEO Elon Musk is in talks with Linda Yaccarino, the current head of advertising at NBCUniversal (NBCU), to appoint her as the new CEO of Twitter.

In her decade-long career at NBCU, Yaccarino was an industry advocate for efficient advertising and played a key role in the launch of the company’s ad-supported Peacock streaming service.

Shortly before the WSJ report, Musk tweeted,

"Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks! My role will transition to being exec chair & CTO, overseeing product, software & sysops."

https://www.wsj.com/articles/linda-yaccarino-in-talks-new-twitter-ceo-elon-musk-7a006bb5

BlockFi Gets Court Permission to Return $297 Million To Wallet Customers

Yesterday, U.S. Bankruptcy Judge Michael Kaplan ordered bankrupt crypto lender BlockFi to return the $297 million in funds present in its non-interest-bearing accounts back to customers after ruling that the “digital assets held by the debtors in custodial omnibus wallets are indeed client property and not property of the bankruptcy estates.”

Judge Kaplan also added that BlockFi customers who had their funds present in interest-bearing accounts did not own their deposits and that BlockFi did not need to repay the $375 million in funds that clients tried to withdraw from interest-bearing accounts at the last minute.

Judge Kaplan ruled,

“No transfer request by customers between the BIA and the custodial wallet accounts initiated after 8:15 p.m. on Nov. 10, 2022, were effectuated and completed.”

https://www.reuters.com/legal/blockfi-gets-court-permission-return-297-million-wallet-customers-2023-05-11/

Ethereum Mainnet Was Unable to Fully Finalise Transactions for 25 Minutes

Yesterday, an unidentified issue on Ethereum’s Beacon Chain led to the blockchain being unable to fully confirm transactions for about 25 minutes. Notably, blocks were still getting proposed but not being finalised. While the mainnet is now finalising blocks again, developers have stated that they are still investigating what caused this outage.

https://www.coindesk.com/tech/2023/05/11/ethereum-mainnet-was-unable-to-fully-finalize-transactions-for-25-minutes

Binance.US Explores Ways to Cut Founder Changpeng Zhao’s Majority Stake

According to a report by ‘The Information’, Binance.US and Binance CEO Changpeng Zhao (CZ) are looking for ways to reduce CZ’s stake in the U.S. entity. The report states that CZ has been trying to cut its stake in the American unit since last summer, before the U.S. Commodity Futures Trading Commission sued the exchange. Binance.US executives are reportedly worried that the company may not be able to get certain U.S. regulatory licenses as long as Zhao is the majority owner.

https://www.theinformation.com/articles/binance-us-explores-ways-to-cut-founder-changpeng-zhaos-majority-stake

Do Kwon Set to be Released After Montenegro Court Accepts $436,000 bail

Terraform Labs founder Do Kwon’s lawyers have reportedly requested the court to let Kwon and his fellow Terra executive Han Chang-joon off on supervised bail by confining them to home arrest after providing the court with 400,000 euros for each of them. Both Kwon and Chang-joon have denied the charges, and prosecutors have opposed the proposed bail conditions. However, the court has accepted the bail proposal and has set the next trial date for June 16.

https://www.theblock.co/post/230575/do-kwon-bail
17.5K views12:02
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2023-05-11 15:06:47 “The token is based on the Pepe the Frog meme, which first surfaced on the internet nearly 20 years ago as a comic-strip character. Over time it has been co-opted as a hate symbol by alt-right groups, according to the Anti-Defamation League.”

https://cointelegraph.com/news/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange
19.4K views12:06
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2023-05-11 15:06:47 COIN BUREAU NEWSFLASH! – (11/05/23)
Here are some of today’s most important headlines:

Tether Boosts T-Bill Holdings, Cuts Bank Exposure

According to Tether’s latest attestation report, around 85% of its $81.8 billion USDT reserve is stored in cash and cash equivalents. Specifically, more than three-quarters of Tether’s cash equivalents ($53 billion) are stored in short-dated US Treasury bills. This figure marked a slight uptick from its holdings in the previous quarter when such assets made up around 71% of Tether’s cash reserves.

The report also revealed a reduction in exposure to cash in the first quarter, probably due to the recent slate of US bank closures that impacted rivals. In a statement on the attestation, Tether states that it recorded a net profit of $1.5 billion in the first quarter. Notably, this figure is more than double what it reported in the previous period.

https://www.bloomberg.com/news/articles/2023-05-10/tether-posts-1-5-billion-profit-double-late-march-forecast

Elon Musk Sends Milady NFT Price Soaring with Twitter Meme

Yesterday, the floor price of the NFT collection Miladys skyrocketed from 3.8 ETH to as high as 7.3 ETH after Twitter CEO Elon Musk posted a meme containing an image from of one of the NFTs overlaid with the words, “There is no meme, I love you."

According to the market analytics website ‘NFT Price Floor’, the sales of Milady NFTs has risen by over 500% in the last 24 hours. This has also had a positive effect on other projects from Remilia Creative- the group of artists behind the Milady NFT. For example, the sales of Redacted Remilio Babies NFTs were up 660% over the last 24 hours.

https://www.theblock.co/post/230279/elon-musk-milady-price-twitter-meme

U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy

The U.S. Internal Revenue Service (IRS) has reportedly filed 45 claims worth nearly $44 billion against the estate of bankrupt crypto exchange FTX and its affiliated entities. The list of entities against which the claims were issued includes West Realm Shires (the legal entity of FTX.US), Ledger Holdings (the parent company of LedgerX and LedgerPrime) and Blockfolio.

The largest of these claims includes a $20.4 billion and a $7.9 billion claim against Alameda Research LLC and two claims totalling $9.5 billion against Alameda Research Holdings Inc. Notably, the claims were filed under the classification “Admin Priority”, allowing the IRS’ claims to take precedence over the claims of other creditors in the bankruptcy case.

https://www.coindesk.com/business/2023/05/10/us-internal-revenue-service-files-claims-worth-44-billion-against-ftx-bankruptcy

SEC Serves Bitcoin Mining Firm Marathon Digital with Subpoena, Again

Bitcoin mining firm Marathon Digital Holdings has reportedly received an additional subpoena relating to its 100-megawatt data center in Hardin, Montana from the U.S. Securities and Exchange Commission (SEC).

Marathon stated,

“The Company received an additional subpoena from the SEC on April 10, 2023, relating to, among other things, transactions with related parties. We understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law. We are cooperating with the SEC.”

https://decrypt.co/139722/sec-serves-bitcoin-mining-firm-marathon-digital-subpoena-again

Coinbase Calls Pepe A ‘Hate Symbol,’ Prompting Calls to Boycott the Exchange

In an email newsletter sent out yesterday, crypto exchange Coinbase reportedly described the Pepe the Frog meme as a hate symbol co-opted by alt-right groups. This seems to have offended Coinbase customers who are fans of the PEPE meme coin. Some users took to Twitter to demand an apology from the crypto exchange while others started deleting their accounts on the exchange.

Coinbase’s description of the PEPE meme in the newsletter reads,
19.4K views12:06
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2023-05-10 15:47:48

19.1K views12:47
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2023-05-10 15:47:35 Hey Guys,

I’m sure you’ve all been wondering whether the crypto bull market is back. I know that I have! This inspired me to take a closer look at what all the different indicators are saying to try and get an answer to this pressing question.

Not surprisingly, it’s a mixed bag. Price action is bullish, but the volume isn’t there. Crypto regulation is also getting worse in the US, but much better abroad. Crypto could also trade like a commodity in some places, not a risk asset.

On top of that we’ve got interest rates which seem to be peaking, but we may not see a pivot as soon as the markets are expecting. The crypto market cycle also suggests we could see another year of sideways price action, at least for alts.

This is one you can’t miss!
18.3K views12:47
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2023-05-10 15:34:37 COIN BUREAU NEWSFLASH! – (10/05/23)
Here are some of today’s most important headlines:

NFT Collection Pudgy Penguins Raises $9 Million

Ethereum-based NFT collection Pudgy Penguins has reportedly raised $9 million in a seed funding round. The round was led by early-stage investment firm 1kx and saw participation from Big Brain Holdings, Kronos Research, Old Fashion Research, CRIT Ventures, and the founders of LayerZero Labs.

Notably, the funding round comes over a year after the previous founders were voted out for allegedly draining treasury funds and failing to meet community goals. The brand, now owned by serial entrepreneur Luca Schnetzler, will reportedly use the raised funds to scale its intellectual property and team.

https://decrypt.co/139470/pudgy-penguins-bucked-nft-crash-now-raised-9-million

Microsoft, Goldman Sachs, Others Partner in New Blockchain Network

Fintech firm ‘Digital Asset’ is reportedly launching a privacy-enabled blockchain in collaboration with several other partners including BNP Paribas, Cboe Global Markets, Paxos, Microsoft, Goldman Sachs, and Deloitte.

The blockchain, reportedly called the ‘Canton Network’, is built on Digital Asset’s smart contract language Daml and is expected to create an interoperable system where “assets, data, and cash” can synchronise across linked applications.

Cathy Clay, executive vice president of Cboe Global Market, stated,

“The tokenisation of real-world assets may offer an unprecedented opportunity to create new market infrastructure and drive efficiency in the trading of products across the globe.”

https://cointelegraph.com/news/microsoft-goldman-sachs-others-partner-in-new-blockchain-network

Marathon Teams Up with Abu Dhabi's Zero Two for Middle East's First Large-Scale Liquid Cooled Bitcoin Mining

Bitcoin miner Marathon Digital has reportedly formed a joint venture (JV) with Abu Dhabi's sovereign wealth fund-backed digital assets infrastructure firm Zero Two to create the region’s first large-scale immersion bitcoin mining operation.

The new project, named the “Abu Dhabi Global Markets JV Entity”, will first develop two mining sites with a combined mining power capacity of 250 megawatts (MW) in Mina Zayed and Masdar City of the United Arab Emirates. The sites will reportedly be powered by excess energy from Abu Dhabi’s power grid, increasing its base load and sustainability. According to reports, the necessary mining equipment and infrastructure have already been ordered and construction is currently underway.

https://www.coindesk.com/business/2023/05/09/marathon-digital-in-jv-for-immersion-cooling-bitcoin-mining-in-abu-dhabi

Ex-Coinbase Manager Gets 2 Years for Insider Trading

Ishan Wahi, the former Coinbase manager accused of insider trading, has reportedly been convicted and sentenced to two years in federal prison. US District Judge Loretta Preska pointed to “a massive abuse of Mr. Wahi’s employer’s trust” stating that it “was not just a one-time event” when handing him sentence on Tuesday in Manhattan. Wahi’s prison term is to be followed by two years of supervised release and a possible deportation to India.

https://www.bloomberg.com/news/articles/2023-05-09/ex-coinbase-manager-ishan-wahi-gets-2-years-for-insider-trading

Shaq Cries Foul: FTX Court Papers 'Tossed' At Car Mean He Was Never Served, Calls For Dismissal

In a May 8 court filing, NBA star Shaquille O’Neal’s lawyers asked the court to quash and dismiss the claims against Mr. O’Neal on the grounds that the two process servers inadequately delivered legal documents. Specifically, the lawyers claim two process servers “tossed” papers for a legal complaint in front of O’Neal’s moving car and that O’Neal did not stop to pick up the papers but left them in the road.

The filing reads,

“This purported ‘service’ is inadequate under Rule 4 of the Federal Rules of Civil Procedure and Georgia law. It should be quashed, and the claims against Mr. O’Neal dismissed.”

https://www.theblock.co/post/229987/shaquille-never-served-ftx-lawsuit
16.8K views12:34
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2023-05-09 16:00:13

18.9K views13:00
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2023-05-09 16:00:07 Hey Guys,

If you thought you were past the phase of worrying if your job is going to be replaced by AI, think again. The World Economic Forum has decreed that a quarter of all jobs will be disrupted by AI over the next few years.

This decree was issued in the WEF’s most recent ‘Future of Jobs’ report which is predicable in some ways and unpredictable in others. The moment I saw all the headlines about it, I knew I had to summarize it.

Not surprisingly, the WEF makes a lot of assumptions when it comes to job projections. The data it used also comes from 800 of its so called ‘stakeholders’. Even so, there were some surprising findings that you need to know about.

Enjoy!
18.2K views13:00
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2023-05-09 14:48:55 COIN BUREAU NEWSFLASH! – (09/05/23)
Here are some of today’s most important headlines:

P2P Bitcoin Exchange Paxful Back Online After Temporary Suspension

Peer-to-peer Bitcoin exchange Paxful has reportedly resumed operations after being shut down for over a month. Notably, the marketplace had shut down in April after Paxful CEO Ray Youssef and co-founder Artur Schaback lobbed allegations at each other over misappropriation of company funds, money laundering and evasion of United States sanctions against Russia. According to Schabeck, Paxful is currently owned by a custodian, who serves as a director in addition to both Schabeck and Youssef.

https://www.coindesk.com/business/2023/05/08/paxful-marketplace-back-online-following-temporary-suspension

Bittrex Files for Bankruptcy Protection Less Than a Month After SEC Charges

Yesterday, crypto exchange Bittrex filed for Chapter 11 bankruptcy protection in the District of Delaware. Notably, the filing comes months after the exchange announced it would wind down operations in the country and weeks after being sued by the Securities and Exchange Commission (SEC).

The bankruptcy covers its Seattle-based entity Bittrex, Inc, two Bittrex entities in Malta and an affiliated entity Desolation Holdings LLC. According to the filing, the exchange estimates it has more than 100,000 creditors, with estimated liabilities and assets both within the $500 million to $1 billion range.

https://www.theblock.co/post/229861/bittrex-files-for-bankruptcy-protection-less-than-a-month-after-sec-charges

Human ID Project ‘Worldcoin’ Launches Gas-Free Wallet Only for Humans

Open AI founder Sam Altman’s crypto project, Worldcoin, has reportedly launched a gas-free crypto wallet for verified humans called the “World App.” The wallet currently runs on the Polygon network and works on both Android and iOS operating systems. Users can hold and transfer USDC, DAI, ETH, WLD and WBTC on the wallet gas-free as long as they are verified by the project’s “World ID” system which discriminates between humans and bots. In order to be verified by the system, users must supply a phone number or iris scan.

https://cointelegraph.com/news/human-id-project-worldcoin-launches-gas-free-wallet-only-for-humans

Binance to Bring Bitcoin NFTs to Its Marketplace Through Ordinals Support

Earlier today, crypto exchange Binance announced that it was bringing support for Ordinals inscriptions on its NFT marketplace later this month. The move is expected to further grow Binance’s “multi-chain ecosystem.”

Binance’s Head of Product Mayur Kamat stated,

“Bitcoin is the OG of crypto. We believe things are just getting started here and can’t wait to see what the future holds in this space.”

https://decrypt.co/139389/binance-to-bring-bitcoin-nfts-to-binance-nft-marketplace-through-ordinals-support

Bankman-Fried Asks Judge to Dismiss Post-Extradition Charges

Sam Bankman-Fried (SBF), the former CEO of FTX, has reportedly asked a judge to dismiss the several criminal charges which were filed after his extradition from the Bahamas. SBF’s legal team argued that the charges violate the terms under which the Bahamian government extradited Bankman-Fried to the U.S. to face prosecution.

The filings state,

“After Mr. Bankman-Fried returned to this country, the government superseded the original indictment, not once but twice, improperly adding several new, unrelated charges without first obtaining the express consent of the Bahamian government.”

https://www.bloomberg.com/news/articles/2023-05-09/bankman-fried-asks-judge-to-dismiss-post-extradition-charges
17.5K views11:48
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2023-05-09 13:14:10
Rally Report

BITCOIN SV

The price of BSV has rallied by 32% in the past 24 hours.

WHY?!

Recently, rumours about the founders of the Ordinals protocol and BRC-20 projects being related to the Bitcoin SV community have been floating around Twitter and some Chinese investor circles.

These rumours are likely behind the sudden massive pump of the BSV token.

If you want to buy or trade BSV, we have an exclusive trading fee discount of up to 60% on Kucoin

https://www.coinbureau.com/deals/trading/kucoin/
18.5K views10:14
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