RA George’s Post

10th June: Crypto & Coffee at 8 💡 Kill Maker Dao - Rune Christensen 🟠Bitcoin with Zero Knowledge Proof? ❎Arbitrum $237 Million Gaming Proposal 🏆Binance Hits 200M users 🚨 Rune Christensen on Remaking MakerDAO and Replacing DAI In an interview, MakerDAO founder Rune Christensen discussed his Endgame proposal to overhaul MakerDAO and replace its stablecoin, DAI. Key points include: -Endgame Proposal- Aims to launch new stablecoins, generate new revenue streams, and create "subDAOs" for business expansion. - Decentralization: Christensen differentiates between using decentralization as a tool for resilience versus an end goal. - Governance: He believes MakerDAO's governance is currently under-engineered and needs a more transparent framework. -VC Opposition: Some VCs opposed Endgame, but new investors who support the proposal have since bought MKR tokens. - Future Goals: The proposal includes rebranding, new tokens, and yield farming to attract users and drive growth. Christensen's Endgame proposal seeks to ensure MakerDAO's long-term success and resilience through innovation and adaptation. Check out Blockchain DXB's Crypto & Coffee at 8 podcasts we share our thoughts and commentary on this ⚡ StarkWare plans to explore Bitcoin scaling using zero-knowledge proofs (ZKPs) with the OP_CAT soft fork proposal, marking a significant milestone. Despite progress, generating ZKPs at scale remains computationally expensive and less battle-hardened than Bitcoin's current cryptographic techniques. Rollups, which use off-chain sequencing to scale applications, still rely on central operators and face security issues. BitVM has further spurred ZKP research, but challenges like liquidity and security concerns persist.  Details here https://lnkd.in/dWTb5Cfj 🟢 The Arbitrum ecosystem is deliberating on a proposed $237 million program aimed at supporting gaming. However, the initiative faces significant opposition and demands for a repeal or re-vote. Critics are concerned about the substantial budget allocation, potential market repercussions, unclear legal structures, and high operational costs. Additionally, some voters have shifted their stance due to the increased earmarked funds and a perceived lack of transparency. While the proposal has backing from certain organizations, there are growing calls for a re-vote or repeal. https://lnkd.in/duE254f5 🚨 Binance announced via Twitter (X) it had surpassed the 200 million user mark, solidifying its status as the largest crypto exchange in the world. With this milestone, no other exchange comes close to challenging its dominance. Bybit, the second-largest exchange, reports only 27 million users. https://lnkd.in/dQdkpfAE 🟠 Two UAE news ⚡ Crystal Expands Presence in Dubai, Bringing Deeper Support and Market Compliance Capabilities for Virtual Asset Entities in the Region ⚡ WISeKey SA and The Hashgraph Association Join Forces to Bring Secure IoT and DePIN Solutions to Saudi Arabia #btc

06th June: Crypto & Coffee at 8 💡 Paxos Launches Regulated Stablecoin, 🚨 Coinbase Introduces Smart Wallet 🐶 Bitcoin-based DOG memecoin 🚀 Centralized crypto exchange volume 💡(USDL) - Stablecoin that generates yield - Paxos has launched a new stablecoin called the Lift Dollar (USDL), issued by its UAE division and regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market. USDL is designed to generate a programmatic daily yield of around 5%, similar to the returns on U.S. Treasury bonds. Like other Paxos stablecoins, USDL is backed 1:1 with dollars and short-term U.S. government securities, ensuring asset safety and regulatory oversight. 💡Important to note Paxos USDL will not be available in the U.S. because of a lack of regulatory guidance. but will focus on the Argentine market through partners Ripio, Buenbit, and TiendaCrypto. For the launch, Paxos is reducing its asset management fee to 20 basis points, allowing users to receive a yield of more than 5%. Info via CoinDesk https://lnkd.in/dCKnNMwP 🚨 Coinbase has launched its Smart Wallet, designed to simplify the onboarding process for new users in the DeFi space. The wallet allows users to create a free, secure, self-custody wallet in seconds and seamlessly use their Coinbase balances. It also addresses challenges such as slow and expensive transactions and the need to manage multiple wallets. Coinbase’s new wallets aim to address challenges to the typical DeFi user experience, especially getting started. via Decrypt here https://lnkd.in/d-w_HGJg 🐶 The Bitcoin-based meme coin DOG, launched on the Runes protocol, is nearing a $1 billion market cap after a 200% rise in the past month. It is now the largest meme coin on Bitcoin and the seventh-largest overall. DOG, which debuted on April 20 during the bitcoin halving event, initially fell by 60% but has recently surged amid increased meme coin activity. The Runes protocol aims to improve transaction speed and cost on Bitcoin. DOG has seen nearly $100 million in trading volume in the past 24 hours, although meme coins remain highly volatile and driven by social media trends. ❗ According to the latest report by CCData, In May, the combined spot and derivatives trading volume on centralised exchanges fell 20.1% to $5.27tn, as major crypto assets including Bitcoin and Ethereum remained largely rangebound. Toward the end of the month, many assets experienced a sudden spike in volatility following the SEC’s surprise approval of spot Ethereum ETF in the US. Report here https://lnkd.in/dFvfYifS 🟠 Two UAE news( See slides) ⚡ Central Bank of the United Arab Emirates (CBUAE) completes the first real-value cross-border payment transactions “mBridge” in pilot wholesale CBDC project ⚡ Dubai “ AI Retreat” to Convene 1,000 AI Experts, Business Leaders and Tech Giants #blockchaindxb #ai #btc  

05th June: Crypto & Coffee at 8 🟠 Thailand Approves First Bitcoin ETF 🟢 Dapper Labs Agrees to $4M Settlement 🔵Donations against 'Anti-Crypto Candidates' 🔴 CFTC Info 🟠Thailand has approved its first Bitcoin ETF, the ONE Bitcoin ETF Fund of Funds Unhedged by One Asset Management (ONEAM), available from May 31 to June 6. Access is limited to wealthy and institutional investors. The ETF will invest in 11 global funds to ensure liquidity and security. This follows the Thai SEC's rule change allowing local firms to offer Bitcoin ETFs to a restricted investor base. ONEAM's CEO advises allocating no more than 5% of portfolios to Bitcoin due to its high return potential and volatility. More info Bitcoin Magazine https://lnkd.in/d3WAQ_4W 🟢 Dapper Labs has agreed to a $4 million settlement to end a class-action lawsuit alleging its NBA Top Shot NFTs were unregistered securities and that it restricted withdrawals to maintain value. Pending court approval, the settlement covers payments to investors and legal fees. Dapper Labs will also enhance compliance training and transaction speeds. CEO Roham Gharegozlou highlighted the need for clearer regulations distinguishing consumer NFTs from financial products, noting no regulators have classified NBA Top Shot NFTs as securities, and the SEC closed its investigation into the company. Info via CoinDesk https://lnkd.in/dN2fmHTp 🔴 'Anti-Crypto Candidates' On May 22, the U.S. House of Representatives passed FIT 21, a regulatory framework for the crypto industry. On Friday, Biden vetoed the SAB 121 repeal, underscoring crypto-related tensions not just in national politics, but within his own party - FairShake has nearly doubled its fundraising to $160 million, thanks to donations from Coinbase, Ripple, and Andreessen Horowitz. Coinbase contributed an additional $25 million to Fairshake, a crypto industry political action committee (PAC), highlighting increased crypto spending on the 2024 election. According to OpenSecrets, Fairshake's fundraising is surpassed only by ActBlue and WinRed, the main payment processors for the Democratic and Republican parties. Info via Decrypt here https://lnkd.in/dM4Zsy5x 🎙️ Check out the Blockchain DXB podcast we share our commentary on this. We also discuss Interoperability and some technical information in the Blockchain context. 🟠 CFTC Digital Asset Subcommittee Aptos Labs Founder Mo S. Joins CFTC Digital Assets Subcommittee Alongside BlackRock, BNY Mellon Reps. The subcommittee is part of the larger Global Markets Advisory Committee and includes industry representatives from companies like BlackRock, BNY Mellon, and Uniswap Labs. The subcommittee advises the CFTC on rulemaking related to international trade and business. via DLNews https://lnkd.in/dzbXkSTG 🟠 Two UAE news ⚡ Qatar Central Bank Announces Launch of Digital Currency Project ⚡ Saudi Central Bank – SAMA mulls blockchain use, says no to phasing out cash #blockchain #bitcoin #btc

03rd June: Crypto & Coffee at 8 🟠 DMM Bitcoin - $305 million hack 🔵Biden Vetoes SAB 121 ❗ Google and Magic Leap - Metaverse 🕶️Estonia - Mining Fraud 🟠 DMM Bitcoin, a Japanese crypto exchange, was hacked, losing 4,502.9 BTC ($305 million). The hacker split the stolen BTC into 10 wallets. DMM Bitcoin has taken measures to prevent further theft and promised to reimburse the full amount. All spot buys are temporarily restricted, and yen withdrawals may be delayed. This hack is the second-largest in Japan, following the 2018 Coincheck hack. Info via CoinDesk https://lnkd.in/d77w2JDi ❗ How will it impact the regulatory landscape for cryptocurrency exchanges in Japan and globally? 🔵 SAB 121 - Biden has vetoed H.J.Res. 109, a resolution that aimed to disapprove the SEC's Staff Accounting Bulletin No. 121 (SAB 121). SAB 121 outlines the accounting obligations for firms safeguarding crypto-assets. The President stated that the resolution would improperly limit the SEC's ability to establish necessary regulations and address future issues, which could undermine consumer and investor protection. Biden emphasized the importance of appropriate regulations for the responsible development of digital assets and expressed a desire to work with Congress on a balanced regulatory framework for digital assets. Info via The White House here https://lnkd.in/d2FHEMsB 🎙️ Check out Blockchain DXB podcast we explain the impact this has on the Crypto Industry. 👀 Magic Leap and Google have announced a strategic partnership to advance XR (Extended Reality) technologies. This collaboration will combine Magic Leap's expertise in augmented reality (AR) optics and manufacturing with Google's technology platforms to develop new AR solutions and experiences. Key figures from both companies expressed enthusiasm about fostering the XR ecosystem and delivering innovative products. This partnership builds on a long-standing relationship between the two companies. via Cointelegraph here https://lnkd.in/dkHv6W-Q 🔴 Two Estonian nationals, Sergei Potapenko and Ivan Turõgin, have made their first court appearance after being arrested for their alleged involvement in a cryptocurrency fraud scheme. The Department of Justice claims that the defendants operated a fraudulent cryptocurrency mining service, HashFlare, and lured victims to purchase contracts worth over $550 million. The pair is also accused of raising $25 million through investments in a virtual currency bank that was never established. Info via Decrypt here https://lnkd.in/dQ8QWGcD 🟠 Two UAE news (See slides) ⚡ Klickl Obtains Financial Services Permission in Abu Dhabi to Enhance Web3 Offerings for SMEs ⚡ Saudi Arabia’s Tuwaiq Academy | أكاديمية طويق Launches Metaverse Camps #blockchaindxb

30th May: Crypto & Coffee at 8 🚨 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://lnkd.in/e7K4ZuAg ⚡ 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://lnkd.in/eE6BHaU9  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://lnkd.in/e43-8cuH 🟠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) #blockchaindxb #btc

29th May: Crypto & Coffee at 8 🔴Mt.Gox Transfers $9B 🚨BTC Bitcoin mining cost 🟢 Solana ETF next 💡SEC fined $1.8 million in fees ⚡ Mt. Gox, the defunct Bitcoin exchange, transferred over 140,000 BTC (worth around $9 billion) to a single address in thirteen transactions, likely as part of repayment plans to creditors by October 31, 2024. This movement of nearly 107,000 BTC since early Tuesday caused Bitcoin's price to drop by 1.4%, falling to $67,680. The market reacted bearishly, anticipating selling pressure. Despite the transfers, rehabilitation trustee Nobuaki Kobayashi assured that no sale of Bitcoin or Bitcoin Cash had occurred and that the assets were being securely managed. ⚡ However, Bitcoin inflows to exchanges remain low. According to CryptoQuant, daily exchange inflows are at 25.9K BTC as of May 28, which is comparable to 2016 levels. An analyst believes that even if Mt. Gox creditors decide to sell, the market will be able to absorb the sell-off with only minor initial volatility, resulting in minimal price impact. 🚨 How will the price react once Mt.Gox starts to add 140,000 Bitcoin to the market? More Supply = Less demand 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

28th May: Crypto & Coffee at 8 💡#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://lnkd.in/dkM52e4v - 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://lnkd.in/dQksF_Nd ❗ 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://lnkd.in/dY7DJran 🔴 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 #blockchaindxb

27th May: Crypto & Coffee at 8 🔴 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://lnkd.in/dsbFyxzA 🟣 Uniswap Foundation mentioned via Twitter (X) Summary Q1’2024 Financials here https://lnkd.in/dg7facyk 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://lnkd.in/dUYUpfs8    🟢 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

23rd May: Crypto & Coffee at 8 🟢 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://lnkd.in/eH-e3iTA 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://lnkd.in/eJJqbirs ❗ 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://lnkd.in/efzkCitb 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 #blockchaindxb

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