07th Aug: Crypto & Coffee at 8
🥶Fear & Greed Index - FEAR 💰Binance $86M tax - 👀 India Ronin Bridge Pause -$9M hack 🔴Tokenizing Olympic Medal 👀 Reserve Bank of India (RBI) Bank of India -CBDC has Google Pay, Amazon Pay, and Walmart-backed Phonepe
🥶 KAMALA KRASH - 05/08/24
🎙️Check out the Blockchain DXB episode on Crypto Bloodbath - Black Monday via Spotify here https://lnkd.in/d6Pz2FBH The Fear and Greed Index is FEAR via CoinMarketCap. Since the last 24 hours, the largest gainers in the industry right now are Polkadot Ecosystem and Base meme cryptocurrencies.
💰 Binance is contesting an $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI) for allegedly not paying GST on transaction fees collected from Indian customers between July 2017 and March 2024. This is the first time the DGGI has issued such a notice to an international crypto exchange. Binance has stated it is reviewing the details and cooperating with Indian authorities while emphasizing its commitment to compliance. The notice follows a $2.2 million fine in June 2024 for anti-money laundering violations.
- Binance has acknowledged the notice and stated that it is reviewing the details while fully cooperating with Indian authorities. Info via The Times Of India https://t.ly/TCCHe
😱 White hacker $9M : Ronin Bridge, a prominent crypto bridging service, was paused after $9 million in tokens were drained in what appears to be a whitehat hack. The co-founder, @Psycheout86, stated on X (formerly Twitter) here https://rb.gy/72odz3 that the bridge, which secured over $850 million, is safe despite the incident. The pause was due to reports of a potential Miner Extractable Value (MEV) exploit. "Whitehat" hackers are those who find security vulnerabilities to help improve software security. Ronin's RON tokens remained stable, showing a 7.4% increase in the past 24 hours amid a general market rise.
🔥Media personality Caitlyn Jenner is launching a new crypto project that will allow investors to own a digital piece of her 1976 Olympic gold medal. The gold medal will be represented by an NFT on the Ethereum layer-2 network Base, with a tradable token called MEDAL launching alongside. The project will involve JENNER token holders in some way, Jenner told Decrypt https://shorturl.at/IL38d
👀 Google Pay, Amazon Pay India, and Walmart-backed PhonePe are reportedly looking to join India's central bank digital currency (CBDC) initiative, led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also interested in participating. These companies aim to enable transactions using the e-rupee. The initiative seeks to increase transaction volumes by extending access beyond banks to major payment platforms.
🟠Two UAE news
⚡ stc Bahrain: A New Blockchain Network on Avalanche Bridging Real-World and Web3 Innovation with a New Blockchain Network
⚡ Emirati-born Birbal AI unleashes revolutionary tech hiring solutions 

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

Crypto Bloodbath - Black Monday 05th August

Date: August 6, 2024

Guests: Markose Chentittha, RA George

Overview:

Key Metrics:

Discussion Points:

Conclusion:

Jobs Report - Official Link

https://www.bls.gov/news.release/empsit.nr0.htm

05th Aug: Crypto & Coffee at 8

🔴Crypto market 🔻 Morgan Stanley to offer Bitcoin ETFs.❗ France Opens for MiCA Applications 👀XRP Ledger -65% decline On-Chain Transactions 🟣Lido institutional-grade liquidity Staking solution 

🟣 Morgan Stanley is set to become the first major Wall Street bank to offer Bitcoin ETFs. Starting August 7, its 15,000 financial advisors can offer eligible clients shares in BlackRock’s iShares Bitcoin Trust and Fidelity Investments’s Wise Origin Bitcoin Fund. This move, driven by client demand and market trends, targets clients with a net worth of at least $1.5 million and a high-risk tolerance. The bank will monitor clients’ crypto holdings to prevent excessive exposure and has yet to decide on offering ether ETFs. Info via CNBC here https://shorturl.at/wB2nE

❗ France has become the first major European Union economy to accept applications for crypto asset services provider (CASP) licenses under the Markets in Crypto Assets (MiCA) regulations. Starting July 1, the French markets regulator, Autorité des Marchés Financiers (AMF), is open to these applications, with MiCA set to take effect in December. By July 2026, companies must be licensed under this regime to offer services in the EU. The AMF highlighted key aspects of the legislation, such as custody and administration of crypto assets and operating trading platforms, which will be implemented on December 30. Previously, the AMF had already registered 74 companies under its own regime. Other major EU economies like Germany, Italy, and Spain have not yet announced their processes for CASP licensing.

🔻 XRP Ledger Ripple

The XRP Ledger has faced a major decline, with transaction volume down over 65% and costs up nearly 170% in Q2 2024 due to network congestion. To address this, Ripple plans to introduce tokenized assets and launch a stablecoin, Ripple USD, aiming to boost activity and attract institutional investors. While these initiatives offer potential growth, their success and immediate impact remain uncertain. More info via DailyCoin here https://rb.gy/rfhlo3

🌟 Lido Institutional

❗ Lido Finance has introduced Lido Institutional, a liquidity staking solution for large investors like custodians and asset managers. This service offers enterprise-grade security and liquidity for institutional strategies. Lido, which holds over 28.5% of all staked Ether, partners with Taurus and Fireblocks for infrastructure. Founded in 2020, Lido lets users stake any amount of ETH and earn rewards without needing the 32 ETH minimum. The U.S. SEC claims that Lido and Rocket Pool sell unregistered securities, although no direct action has been taken against them.

🟠 Two UAE news (See slides)

⚡ UBXS Token Launches Home Tokenization in Dubai

⚡ The Blockchain Center in Abu Dhabi officially launched, and aims to drive innovation and growth in Web3

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01st Aug: Crypto & Coffee at 8

👀FOMC- Rates Unchanged 💰Tether.io record-breaking $5.2B profit ⚡ Bitcoin Difficulty rose by 10.5% 🟠Terra Blockchain exploit lost $4 million

🏦 Federal Reserve Board chair Jerome Powell has decided to keep the interest rates the same. We strongly recommend watching his speech via YouTube here https://rb.gy/rc1ehm Jerome Powell gives his reason for keeping the interest rate unchained. How will this impact the price of Bitcoin & the cryptocurrency market? 

- He mentioned no plans on implementing CBDC yet and they do not have any authority to launch retail CBDC. 

- The FOMC team thinks CBDC is not a good idea

Check out the Blockchain DXB podcast for today we share more information about the FOMC meeting & its impact on the prices 

🔴 Tether.io Holdings Limited's Q2 2024 attestation by BDO highlights a record $5.2 billion profit for the first half of the year and $1.3 billion for Q2 alone. Tether's U.S. Treasury holdings have reached an all-time high of over $97.6 billion, making it 18th globally in U.S. debt ownership. The Group's equity increased to nearly $12 billion, despite a Bitcoin price drop. Tether's reserves exceed liabilities by $5.3 billion, with over $8.3 billion in USDt issued in Q2. CEO Paolo A. emphasized Tether's commitment to transparency and stability.  

❗ The Consolidated Financials Figures and Reserves Report can be found here https://rb.gy/n7o8ra 

🟤 The Bitcoin network has recently experienced its most significant difficulty adjustment since October 2022, with a 10.5% increase driving the metric to a record 90.67 trillion. Bitcoin.com has reported that On Wednesday, at block height 854,784, Bitcoin’s mining difficulty saw its largest increase of the year and the most substantial since October 2022. The difficulty rose by 10.5%, climbing from 82.05 trillion to 90.67 trillion. This shift signifies a 10% increase in the effort required to find a block compared to the previous two weeks or 2,016 blocks. Info here https://rb.gy/zzmdb5 

🔥 A Terra blockchain exploit led to the loss of over $4 million in tokens, including around 60 million ASTRO tokens, which caused the price of ASTRO to drop to an all-time low. According to blockchain security firm Beosin, the attack drained bridged assets, including 2.7 BTC, $3.5 million in USDC, and $500,000 in USDT stablecoins. Their tweet here https://rb.gy/bnim1b The attacker exploited a reentrancy vulnerability in the timeout callback of ibc-hooks. The vulnerability was disclosed in April this year, some info via GitHub here https://t.co/CY39X28KyE 

👀 The team mentioned via (X), Twitter that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time Tweet here https://rb.gy/kd83op

🟠 Two UAE news (See slides)

⚡ Commercial Bank of Dubai introduces core banking services for virtual asset service providers

⚡ Digital Dubai approves measures to implement strategic vision for 

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31st July: Crypto & Coffee at 8

🟠Wyoming #BTC Research Institute. 👀 Bybit Launches Digital Rupee 🔥Russia legalizes crypto for trade 🚨Trust Wallet partners with TON❗ DraftKings exits NFTs⚡

🔥The University of Wyoming has launched the first Bitcoin Research Institute to enhance the quality and impact of Bitcoin research. The institute will create faculty positions, incentivize academic work, and offer workshops. It aims to provide rigorous, evidence-based research accessible to academics, journalists, and policymakers. Leveraging its interdisciplinary collaboration, renewable energy access, and favourable legislative environment, the university will collaborate with various departments. News via Bitcoin Magazine here https://rb.gy/h2epqt UNI Info https://shorturl.at/aHWJG 

🔴 Bybit has launched a digital rupee (eRupee) to offer a secure payment method for Indian rupee transactions on its platform. This wallet-based solution aims to enhance security and attract more merchants by protecting against cyber threats. The move is expected to improve user trust and expand Bybit’s market reach. The introduction of eRupee reflects the growing role of stablecoins and fiat-pegged tokens in bridging traditional finance with cryptocurrency. news via Bitcoin.com https://rb.gy/4evnz7

⭐Reuters reports that Russia has passed a law to use cryptocurrencies in international trade to evade Western sanctions. Set to take effect in September, this aims to counter payment delays with key partners like China and India, which have led to an 8% drop in imports. The law will establish a new crypto payment infrastructure as Russia seeks alternatives to dollar and euro transactions. Article here https://shorturl.at/I9wil 

🚨 Trust Wallet has partnered with The Open Network (TON) to boost blockchain adoption. The collaboration will enable Trust Wallet to leverage Telegram's user base and focus on gaming finance (GameFi) and decentralized applications (DApps). This integration will allow Trust Wallet's 100 million users to send and receive Toncoin (TON) tokens. Details via Cointelegraph https://shorturl.at/yi9DY 

👀 DraftKings is shutting down its NFT business, including Reignmakers and its NFT Marketplace, due to recent legal developments. This decision follows a federal judge allowing a class action lawsuit to proceed, alleging that DraftKings' NFTs are unregistered securities. 

❗ An earlier article https://shorturl.at/jTWct here in July states Federal Court finds DraftKings NFTs may be securities.

🟠Two UAE news (See slides)

⚡ intelmatix secures $20mln in region’s largest AI Series A funding round

⚡Cleveland Clinic Abu Dhabi becomes UAE’s largest centre for AI-assisted colonoscopy procedures Abu Dhabi Media Office

🎙️Check out Blockchain DXB Podcast we share our commentary on this. See slides 1 & 2 for global crypto snapshot that cover #defi, #stablecoins, #NFT #Oracles and more

For slides click here: https://rb.gy/qj6av8 

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⚡ Bitcoin address: 02ddf96964b352b75dd660a56a5162bf9e76e549e31263b88ed93015e635771795

⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

30th July: Crypto & Coffee at 8
👀 SEC approves Grayscale #BTC Mini Trust 🚨 Swiss FINMA- guidelines for stablecoin issuers 🟠Qatar Crypto Regulations 🔴Hong Kong Legislator - #BTC Strategic Reserve
👀 The U.S. Securities and Exchange Commission has approved the New York Stock Exchange (NYSE) Arca’s request to list shares of Grayscale Investments’s Bitcoin Mini Trust. Official info here https://rb.gy/bknjlq
⭐ Swiss Financial Market Supervisory Authority FINMA Authority (FINMA) has proposed new guidelines for stablecoin issuers. The proposal comes amid growing concerns over the potential impact of stablecoins on regulated institutions and the broader financial ecosystem. Guidelines here https://shorturl.at/MGLgb Some key points include
- Legal Classification of Stablecoins
- Anti-Money Laundering Regulations
-Banking Law Treatment
- Requirements for the default guarantee
- Requirements for Default Guarantees
- Reputational Risks for Banks
- Federal Council Report
🎙️ Check out Blockchain DXB podcast we explain this in detail and share our commentary on it
⚡ Qatar is shifting its stance on cryptocurrencies and is working towards establishing a regulatory framework for digital assets. The Qatar Financial Centre Regulatory Authority (QFCRA) and the Qatar Financial Centre (QFC) Authority have proposed a digital assets framework to regulate investment tokens backed by tangible assets. The final legislation is expected in Q4 2024, and the QFC has also established a Digital Assets Lab to encourage innovation in the financial and digital asset sectors.Info via Unlock media here https://shorturl.at/LiZEo
🚨 Johnny Ng, a member of Hong Kong’s Legislative Council mentioned via Twitter (X) the need for Hong Kong to discuss the feasibility and opportunities of including Bitcoin in financial reserves with stakeholders and will provide updates on the situation. This is in response to Former U.S. President Trump's speech at the U.S. Bitcoin Summit, sharing his views on Bitcoin. Tweet here https://t.ly/Irfxn
🟠 Two UAE news (See slides)
⚡ PCFC launches Dubai Customs AI Platform to boost innovation and support SMEs
⚡ MBZUAI (Mohamed bin Zayed University of Artificial Intelligence) Opens Six-day Executive AI Programme

For slides click here:  https://t.ly/-vBiK 

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

29th July: Crypto & Coffee at 8

🟠Trump- Make Bitcoin Great Again 🔶 Cantor Fitzgerald - Bitcoin financing business 🚨Ledger Touchscreen Crypto Wallet 😨 Casper Network Security Breach

🟠 Bitcoin Nashville 2024 Conference- Jul 25, 2024 – Jul 27, 2024 had some great announcements with President Donald Trump Making Bitcoin Great Again. We strongly recommend watching the videos via Bitcoin Magazine's YouTube channel here https://shorturl.at/BOsn2 Some highlights to check out are 

- Donald Trump Bitcoin Conference Keynote

- Russell Brands Bitcoin is Freedom of Speech 

- RFK  Keynote Bitcoin 2024 

- Michael Saylor Keynote Bitcoin 2024 

- Ben Askren - Make Bitcoin In America Great Again

- U.S. Senator Cynthia Lummis Proposes the U.S. Buy 1M Bitcoin to Reduce National Debt 

🎙️ Check out Blockchain DXB podcast we share our commentary on this

❗ On a similar note Left-wing extremist Senator Elizabeth Warren has raised concerns about the national security threat posed by foreign-owned crypto mining operations in the US. She highlighted that one-third of crypto mining facilities in the US are owned by individuals with ties to the Chinese government. Warren also expressed worries about the potential for these mining operations to spy on sensitive facilities and disrupt the energy grid.

💰Cantor Fitzgerald is set to launch a Bitcoin financing business aimed at providing leverage to Bitcoin investors. The initiative will start with $2 billion in initial financing and is expected to expand further. To support this effort, the company plans to partner with select Bitcoin custodians. Info via Bloomberg here https://shorturl.at/6iQuS

⬛ Ledger has introduced its new Ledger Flex wallet, which features a 2.8" E Ink touchscreen display and is priced at $249. The wallet offers USB-C, Bluetooth 5.2, and NFC connectivity, along with a secure element for generating and storing private keys. Additionally, Ledger has launched the Ledger Security Key app for passwordless login to various sites and exchanges. This new hardware wallet is part of Ledger's effort to "secure a world that's embracing AI" by providing "Proof of You." Info here https://shorturl.at/F2jRP

😱Security breach 

Casper Network mentioned via (X) Twitter that Casper Association, Casper Labs and the Validators/community are actively working to resolve the issue. The network has been halted and the security breach is contained. The issue has been identified and a solution is being worked on. At block 3,329,418, era 14544, validators halted all transactions, including transfers, minting and staking, effectively freezing activity. According to an announcement on its Telegram Messenger group, a post-mortem report will be released, and any subsequent code updates will be made publicly available on Casper’s GitHub repository.

🟠 Two UAE news

⚡ UAE AI Camp kicks off its sixth edition

⚡ SDAIA | سدايا, KAUST launch miniGPT-Med model to help doctors diagnose medical radiology via AI SDAIA-KAUST AI

For slides click here:  https://t.ly/Vw-CQ 

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

Blockchain DXB & Society X Live Session

Topic: Double Spending + Pillars of Open Blockchain + Blockchain Trillema and its Implications, followed by a Weekly Cryptocurrency and Blockchain World recap.

Speakers: George (RA George) and Markose Chentittha

Date & Time: [Date], 10:00 am GST

Blockchain DXB Updates: -

25th July-Crypto & Coffee at 8
🟠 Mt Gox $3.2B transfers 🟠 Stablecoin pegged to Hong Kong dollar 🟠 South African Rand-Backed Stablecoin 🟥Ferrari to launch crypto payments -Europe
🟠 Mt. Gox has transferred a total of 47,500 BTC, valued at approximately $3.2billion. The largest transfer, amounting to $2.1 billion, was moved into what seems to be a new wallet. Most recent transfers were to the centralized crypto exchange Bitstamp, one of the five firms assisting in redistributing Bitcoin and Bitcoin Cash to Mt. Gox creditors. Wallet can be seen here https://shorturl.at/ByxaI via Arkham
🔥 Stablecoins - HK
- Jingdong Coinlink plans to issue the stablecoin on the blockchain with a peg to the HKD, aiming to provide businesses with “efficient, cost-effective, and secure payment solutions. The website also states that the stablecoin will “actively” collaborate with “global regulatory authorities” while adhering to existing and future legal and regulatory requirements. the stablecoin will be redeemable on a 1:1 basis, and its reserves will consist of “highly liquid, highly trusted assets” stored in licensed financial institutions. Info via Hong Kong Monetary Authority (HKMA) here https://lnkd.in/dmkXwgka
👀 ZARcoin (ZARC), a stablecoin pegged 1:1 to the South African rand
- NeoNomad., a South African fintech company, has launched a hybrid exchange platform featuring ZARcoin (ZARC), Launched on 11 July, this digital currency seeks to bridge the gap between traditional and crypto finance, facilitating seamless transactions both domestically and across borders. Utilizing Solana Pay, the platform enables instant, low-cost transactions and focuses on Decentralized Finance (DeFi) to reduce fees. NeoNomad plans to boost crypto adoption with its NomadLearn educational program and DecentraLounge coworking space. With regulatory support from the FSCA, NeoNomad aims to build trust and promote financial inclusion in South Africa. Info via Ventureburn here https://lnkd.in/dXEGW6ve
🚨 Ferrari will extend its cryptocurrency payment system to its network of European dealers from the end of July. By the end of 2024, Ferrari will expand cryptocurrency transactions to other countries in its international dealer network, where cryptocurrencies are legally accepted.
🚨 Ferrari is leveraging the expertise of various companies active in the cryptocurrency payment sector to ensure transaction security. These solutions will facilitate dealers in accepting payments without the need to manage cryptocurrencies directly, as these will be converted immediately into traditional currency. The providers' solutions will also allow for the verification of the source of funds and protect transactions from price fluctuations related to exchange rates. Official info here https://lnkd.in/dsBWyTyt
🟠 Two UAE news (See slides)
⚡ Crypto custodian service Changer.ae Ltd obtains new FSP licence in Abu Dhabi ADGM
⚡ Webidoo launches AI marketing tool for SMEs in Dubai

For slides click here https://shorturl.at/NlWeK

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24th July: Crypto & Coffee at 8
🟢 ETH ETF Live! 🟢Vitalik Buterin introduces Circle STARKs 🟣Nansen Ether ETF analytics dashboard 👀 Gate.io withdraws from Japan ❗Crypto Donations on Base Network
🟢 Vitalik Buterin via his blog vitalik.eth published an article Exploring Circle STARKs
- A new cryptographic protocol called Circle STARKs - Scalable Transparent ARguments of Knowledge (STARKs) operates over 256-bit fields, which, while secure, are typically inefficient. Circle STARKs make cryptographic proofs more practical and accessible, supporting secure and scalable applications.
- A technical concept: Check out Blockchain DXB podcast we use OpenAI chatGPT4o for a simpler explanation. We explore
❗ What Circle STARKs Do
- Efficient Verification
- Work Over Small Fields
- Polynomial Evaluation
❗ How Circle STARKs Help
- Improved Scalability:
- Enhanced Security:
- User-Friendly Development
- Faster Operations
- Lower Costs:
👀 Nansen Launches Ether ETF Analytics Dashboard
- Nansen, a leading blockchain analytics provider, has introduced the first Ether exchange-traded fund (ETF) analytics dashboard. This free tool will track the performance of upcoming US-based spot Ether ETFs, providing real-time data including an interactive flow chart and total issuer balances. The launch of these Ether ETFs represents a major milestone in the industry, according to Nansen CEO Alex Svanevik. Dashboard here https://lnkd.in/dFr9U4kR It tracks the following real-time
- Positive Netflow
- Negative Netflow
- AUM
🔴 Jesse Pollak builder base mentioned via Twitter (x) https://rb.gy/o7ro8x that any US politician can now accept onchain donations on Base Network it offers way lower fees than credit cards, accepts donations in thousands of ERC20s, and quickly settles to USD for the candidate! Thirteen politicians have already signed up to receive crypto donations through this platform, developed by Engage Rise and powered by Coinbase Commerce. This enterprise blockchain service allows merchants to accept digital asset payments, suggesting a significant transformation in the U.S. political landscape regarding cryptocurrency use.
🟣 Gate.io Announcement of Termination of Service for Japan can be found here https://shorturl.at/aoK6E The announcement states Gate.io will end its operations in Japan from July 22, 2024, suspending new account openings. The exchange will assist users in transferring transactions to compliant platforms, remove Japanese descriptions from its site, and provide necessary information in Japanese during the transition. Detailed updates will be shared soon.
🟠 Two UAE news (See slides)
⚡ Abu Dhabi-listed Phoenix Group opens new crypto mining site in US
⚡Saudi aramco’s Wa'ed Ventures invests $15 million in South Korean AI chipmaker Rebellions

For slides click here: https://rb.gy/spghm7

LinkedIn Profile: ⁠⁠⁠https://tinyurl.com/bdeevbru⁠⁠⁠

Podcast Host: @black_incarnation

⚡ Buy me Coffee ☕

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⚡ Tether USDT (ERC20) 0x7acd89cececd5b125a2fc4caa9bc642879579f1e ⚡Leder Wallet! Link https://shop.ledger.com?r=ae54df359c4d

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28