🚀South African President Cyril Ramaphosa has been re-elected, leading the country's first multi-party coalition government. Despite the political shakeup, the crypto industry is expected to remain unaffected. The Financial Sector Conduct Authority has recently set up a licensing regime for crypto, making South Africa one of the first African nations to do so. Crypto companies Luno, Zignaly, and VALR were among the first to get a license. 🎉

The nation's Intergovernmental Fintech Working Group is also set to explore use cases for stablecoins and the implications of tokenization this year. Plus, South Africa is consulting on a directive to include crypto in the country’s Travel Rules, aligning with the Financial Action Task Force's travel rule.

What do you think this means for the future of crypto in South Africa? Share your thoughts below! 👇 #CryptoNews #SouthAfrica

🔥Hot off the press! Federal prosecutors have charged Thomas Pavey and Raheim Hamilton for operating Empire Market, a darknet marketplace that processed a whopping $430M in transactions from 2018 to 2020! 💰

Empire Market was a hub for all things illegal, from drugs to stolen credit card info, with all transactions made in cryptocurrency. The site shut down in August 2020, but the story doesn't end there.

Pavey and Hamilton were already in custody for allegedly selling counterfeit currency on another darknet market, AlphaBay. Now, they face charges of drug trafficking, computer fraud, access device fraud, counterfeiting, and money laundering. If convicted, they could face life in prison.

During the investigation, law enforcement seized $75M in cryptocurrency, cash, and precious metals. Arraignments are yet to be scheduled.

What are your thoughts on this? How will this impact the perception of cryptocurrencies? Let's discuss! 💭 #CryptoNews #Blockchain #DarknetMarket

🚀Crypto's rollercoaster ride continues! FTX's fall sent shockwaves across the industry, but today, things are looking up. Yet, there's a fear that we're repeating old mistakes. 🎢

Crypto's growth is its biggest problem. The euphoria when markets surge and despair when they shrink is a result of crypto's pursuit of mass adoption. But isn't it odd that this maturing industry has normalized these boom-and-bust cycles?

The risk of growing adoption is that new entrants aren't aware of Bitcoin's core principles: decentralization, self-custody, hard money. If these core beliefs aren't understood, the features that make them reality may not remain in the protocols over time.

Crypto is a subculture that cannot accept it is a subculture. The talk of 'onboarding the next billion' causes us to decay our values. But if people want crypto to be used productively, we should be building for people who have an actual need for censorship-resistant money and tools.

What do you think? Is mass adoption the way forward or should we focus on building for a niche audience? Let's discuss! 🗣️ #Crypto #Blockchain #Bitcoin

🔥Hot off the press! #Bitcoin took a tumble this week, dropping to its lowest price in four weeks. It's been a rough ride, with BTC down 7.5% over the past seven days. 😱

Smaller #cryptocurrencies felt the burn too, with the CoinDesk 20 Index shedding almost 12% week-over-week. #Ether, #Solana, #Avalanche, #Cardano, and #Near all saw declines of 15%-20%.

This swift tumble has liquidated nearly $180 million of leveraged derivatives trading positions across all crypto assets over the past 24 hours. This week's shake-out saw a total of over $870 million in liquidations.

Just a few days ago, analysts were predicting an imminent breakout for bitcoin to new record highs, but attempts for rallies were quickly sold off.

The Federal Reserve's projection of only one rate cut this year, less than previously forecasted, dashed investor hope for looser monetary policy. Political uncertainty in Europe and a stronger U.S. dollar index also put pressure on bitcoin.

What's your take on this? Are we in for a bumpy ride or is this just a temporary setback? Share your thoughts below! 🚀 #CryptoNews #MarketAnalysis

🚀MicroStrategy, the largest corporate holder of Bitcoin, is upping its game! The company has increased its convertible note offering by 40% to a whopping $700 million. But wait, there's more! They've also given initial buyers the option to purchase an extra $100 million of notes. 💰

The proceeds? They're going straight into acquiring more Bitcoin and for general corporate affairs. The company's shares are already on the rise, with a 2% increase in early Friday trading. Bernstein brokerage even set a $2,890 price target for the company's shares. 🎯

MicroStrategy now holds a staggering 214,400 BTC worth around $14 billion, making it the biggest publicly listed Bitcoin holder. What are your thoughts on this? Let's discuss in the comments! 🗨️ #Bitcoin #MicroStrategy #CryptoNews

🚀Bitcoin wobbles around $67K, yet brokerage firm Bernstein predicts a $1M BTC price within 10 years! They also set a bullish price target for MicroStrategy, the biggest corporate Bitcoin owner. Meanwhile, BTC ETFs saw $226M net outflows on Thursday.💸

🎯In other news, former Goldman Sachs exec Connie Shoemaker joins Anchorage Digital's board, the only crypto bank chartered by the OCC. This move aims to meet the rising institutional demand for secure, regulated digital asset infrastructure.🏦

📈Chart of the day: TRX is the only coin with a positive CVD, indicating new market inflows. More buyers = positive CVD, more sellers = negative. What's your take on these market movements? Let's discuss!👇

#CryptoNews #Bitcoin #Blockchain

🚀Binance execs Tigran Gambaryan and Nadeem Anjarwalla are off the hook! The Nigerian Federal Inland Revenue Service (FIRS) has dropped tax charges against them, now solely targeting Binance via its local rep. No more court appearances for Gambaryan in the FIRS case!🎉

However, the duo isn't entirely free yet. They're still tangled in a money laundering trial, with the next hearing set for June 19th. Gambaryan remains detained at Kuje prison. The trial is set to resume on June 20th.

What's your take on this? Drop your thoughts below! #Binance #BlockchainNews

🔍#Bitcoin has taken a 6% tumble in a week, even as Nasdaq hits record highs! 📉 Why the deviation from its usual buddy-buddy relationship with the tech-heavy equity market?

Crypto-specific factors seem to be the culprits! Profit-taking by holders and increased selling by miners are holding back the BTC price. 🤔

A wallet inactive since 2018 moved 8,000 BTC (over $500M!) to Binance, hinting at a possible sale. Plus, data shows a decline in the number of BTC inactive for 1-2 years, suggesting holders are cashing in as BTC prices hover near record highs. 💰

Increased selling by miners could also be a factor. Listed miner Marathon Digital sold 1,400 BTC ($98M) this month. The Bitcoin hashrate's upward trend has broken, hinting at miner capitulation. 💔

What's your take on this? Are we seeing a temporary dip or a long-term trend? Let's chat in the comments! #CryptoNews #BTCAnalysis

🚀 Bitcoin's price could hit a whopping $1 million by 2033, and a cycle-high of $200,000 by 2025, says Bernstein. They've initiated coverage of MicroStrategy, the biggest corporate owner of Bitcoin, with an outperform rating and a $2,890 price target.

🔥 MicroStrategy, now owning 1.1% of the global Bitcoin supply, has transformed from a small software company to a leading Bitcoin company in just four years. Its active leveraged Bitcoin strategy has outperformed passive spot ETFs, making it a hot topic in the crypto world.

💰 The company's long-term convertible debt strategy allows it to benefit from potential Bitcoin upside while limiting liquidation risk. It's even proposing a $500 million debt sale of convertible notes to boost its Bitcoin stash.

🤔 What do you think about MicroStrategy's Bitcoin strategy? Will Bitcoin really hit $1 million by 2033? Share your thoughts below! #Bitcoin #MicroStrategy #CryptoNews

🚀Bitcoin ETFs on US exchanges saw a whopping $226M in outflows on Thursday, marking the 3rd day of outflows this week. Fidelity’s FBTC took the biggest hit with $106M withdrawn, while Grayscale’s GBTC and Ark Invest’s ARKB saw $62M and $53M outflows respectively.📉

Only BlackRock’s IBIT bucked the trend with a net inflow of $18M. Valkyrie, Franklin Templeton, Hashdex and WisdomTree's ETFs saw no action.🤷‍♂️

This week's only net inflow day was Wednesday, adding $100M. The activity comes amid a volatile week for Bitcoin and the broader crypto market, centered on Wednesday's key U.S. inflation report and Federal Reserve meeting.💰

The withdrawals bring the net amount taken out of the exchange-traded funds to $564M in 3 days. That's about half the $1.2B taken out of six days at the end of April.📊

U.S. inflation came in lower-than-expected, briefly boosting bitcoin prices to $70,000 from $68,000 before tumbling back under $67,000 as traders likely took profits on the move.📈

What do you think is driving these outflows? Is it a sign of a bearish market or just a temporary blip? Let's discuss in the comments!👇

🚀Anchorage Digital, the only crypto bank chartered by the OCC, welcomes former Goldman Sachs exec Connie Shoemaker to its board of directors! As the current COO and CFO of Bridgewater Associates Holdings, her trad-fi expertise is set to be "invaluable" for Anchorage's growth.👏

With institutional interest in crypto booming, Anchorage is expanding its board to meet the demand for secure, federally regulated digital asset infrastructure. Shoemaker's experience building Goldman Sachs' commercial bank division is "highly applicable" to Anchorage's mission.

CEO Nathan McCauley says this move doubles down on their commitment to advance the institutional ecosystem.💪 What are your thoughts on this power move? #CryptoNews #AnchorageDigital #GoldmanSachs

🔥Hot off the press! U.S. Judge approves a whopping $4.5 billion settlement between SEC, Terraform Labs, and former CEO, Do Kwon. This comes with a ban on trading "crypto asset securities" including Terra ecosystem tokens. 💼

The settlement is a bit of a rollercoaster ride, falling short of SEC's initial $5.3 billion demand but far exceeding Terraform's proposed $1 million. 🎢

Kwon, currently in custody in Montenegro, was MIA at the trial. Meanwhile, Terraform Labs, now under Chapter 11 bankruptcy protection, has around $150 million in assets. 💰

What do you think about this outcome? Is it a fair deal or a harsh blow to the crypto industry? Let's chat in the comments! 💬 #BlockchainNews #CryptoUpdate

🔥Hot off the press! The Holograph protocol's native token, HLG, took a 60% nosedive after a sneaky exploit allowed a hacker to mint a whopping 1 billion HLG tokens. 📉

The culprit? On-chain data points fingers at the ENS wallet acc01ade.eth. Interestingly, a Github page lists an individual with the same handle as a contributor to HLG. Coincidence or inside job? 🕵️‍♂️

The Holograph team is on it though! They've patched the exploit, are working with exchange partners to lock the malicious accounts, and have launched an investigation. They're even contacting law enforcement. 🚔

The exploit's aftermath? The hacker made off with 1 billion HLG, worth a cool $6.7 million at current market prices. Ouch!

What are your thoughts on this? Is it a wake-up call for better security measures in the blockchain space? Let's discuss! 💬

🎉Consensus 2024 was a game-changer for financial advisors and crypto integration!💼 Around 120 advisors gathered to learn about digital assets, network, and engage with industry leaders. The focus? Practical application of crypto in financial practices, not just tech jargon.👩‍💼👨‍💼

Education was a key theme, with advisors needing to understand strategic allocation, investment theses, and regulatory compliance. And let's not forget about educating investors!🎓

Investment options were explored, from direct ownership to ETFs and public companies like MicroStrategy. Advisors generally allocate 2-5% of a portfolio to crypto, categorizing it as an Alternative Investment.📈

Regulation and compliance were hot topics, with CFTC Commissioner Summer Mersinger outlining the CFTC's perspective on crypto regulation.🏛️

Consensus 2024 highlighted the growing integration of crypto in financial advisory practices. Advisors, are you ready to guide your clients through this dynamic asset class?💪 #Consensus2024 #CryptoForAdvisors

📣Crypto market update! Ether's price bounced after SEC Chairman Gensler's testimony hinting at full approvals for spot ether ETFs by summer's end. But alas, it was a fleeting rally, with ETH down 5% at $3,440. Bitcoin also felt the chill, trading near a week's low at $66,300.📉

The Fed's hawkish stance, holding the benchmark fed funds rate steady while projecting a single 25 basis point rate cut in 2024, sent markets south. U.S. economic data didn't help, with both inflation and the economy showing signs of softening.

But hey, let's not lose heart! Analyst Skew suggests $66K is the new equilibrium. And despite the current pullback, there's plenty of bullish news around: improving inflation data, a Bitcoin-friendly presidential frontrunner, and spot ETH ETF approvals.

What's your take on the market's direction? Comment below! #CryptoNews #ETH #BTC

🔥Hot off the press! Social influencer Andrew Tate's DADDY meme tokens are making waves in the crypto world! 🌊 Wallet tracking service Bubblemaps alleges holders are sitting on a cool $45M in unrealized value.

Tate's own wallet holds a whopping $65M worth of tokens at current prices, but hasn't sold a single one since issuance on June 9. Meanwhile, some savvy wallets snapped up 30% of the token’s supply before it hit the mainstream.

Here's the kicker: two other clusters hold another 10% of the token’s supply, worth $30M at current prices. But with just over $2.4M in available liquidity, these positions can't be fully realized yet.

DADDY is the latest celeb-backed token to join the meme coin party. Unlike previous celeb tokens, these are actively issued, backed, and promoted by the stars themselves.

This is Tate's first foray into crypto and it's been a wild ride! The token hit a $240M market cap just three days after launch, with prices up 55% in the past 24 hours.

What's your take on celeb-backed tokens? Are they here to stay or just a passing fad? Share your thoughts below! 👇 #CryptoNews #DADDYToken

🚀Big news in the blockchain world! CFTC Commissioner Christy Goldsmith Romero, a known crypto advocate, is expected to be nominated as the next FDIC Chair. She's been outspoken about getting crypto regulation right and sponsors a Tech Advisory Committee with members from Circle, TRM Labs, and Fireblocks! 🎉

Meanwhile, Kristin Johnson, another Democratic commissioner, is set to be nominated for Assistant Secretary for Financial Institutions at the Treasury Department. She's been vocal about crypto firms' compliance, citing Binance's CFTC penalties as a warning sign.

These nominations could bring fresh perspectives to crypto regulation and financial institutions. What do you think these changes mean for the future of crypto? Let's discuss! #CryptoNews #Blockchain #Regulation

🚀 Memecoins, the "Wild West" of DeFi, have soared to a collective market cap of $54.4B! Thanks to the likes of Dogecoin (DOGE) and Shiba Inu (SHIB), the memecoin market is booming. But beware, folks! The recent surge in memecoin trade volumes mirrors the trend seen just before the 2022 crypto bubble burst. 📉

The hype and FOMO can easily sweep traders into making impulsive investment decisions. That's why it's crucial to apply fundamental valuation frameworks and high-level technical analysis to navigate this volatile market. Especially for institutional investors seeking long-term value in digital assets.

Speculative hype can often overshadow rational investment strategy. Remember the dot-com bubble? The subprime mortgage meltdown? In crypto, this hype is supercharged. But fundamental analysis can help us see past the publicity smokescreen and understand the intrinsic value of a digital asset.

Sure, memecoins have surprised us with their performance. DOGE's 12,000% increase in the first five months of 2021 is a case in point. But remember, engaging in memecoin markets without thorough analysis and understanding of risks is more gambling than investing.

So, let's not chase the next improbable moonshot on a reckless impulse. Instead, let's use meaningful valuation frameworks to make informed decisions based on meticulous research and solid evidence. What are your thoughts on this? Share your insights in the comments! #Crypto #DeFi #Memecoins

🚀Crypto markets are soaring with a whopping $12 billion net inflows year-to-date, says JPMorgan! Spot bitcoin ETFs are leading the charge, attracting $16 billion of inflows. But hold on, not all of it is new money. A significant chunk is likely a rotation from existing digital wallets on exchanges to these new ETFs. 🔄

Bitcoin reserves across exchanges have dipped since the ETFs launched in January, suggesting a shift in funds. This reduces the net inflow to digital assets year-to-date to $12 billion from $25 billion. Still, this inflow is stronger than last year, albeit lower than the bull run of 2021/2022. 📉

JPMorgan is playing it cool, expressing skepticism that inflows will continue at the same pace for the rest of the year. What do you think, folks? Will the crypto market continue to attract big bucks? Let's chat in the comments! 💬 #CryptoNews #BitcoinETFs

🔥Hot off the press! CRV token takes a nosedive, dropping 30% in early Asian trading hours! 📉 Why? Curve founder, Michael Egorov, is facing a multi-million dollar liquidation risk.

Egorov's addresses have reportedly taken out a whopping $100 million loan in stablecoins, mostly crvUSD, against $140 million in CRV collateral. Wallet transactions indicate Egorov is actively mitigating risks, repaying loans with FRAX, DOLA, and CRV tokens.

But the liquidation of such a large position is causing ripples in the DeFi world. CRV is a key trading pair and ballast in trading pools across the ecosystem, so this pressure is being felt far and wide. One address on Frax Lend saw $3.3 million in liquidated positions as CRV prices fell.

This isn't the first time Egorov's borrowed positions have shaken the crypto market. Back in 2023, an exploit of several Curve lending pools caused CRV prices to dump, putting over $100 million at risk of liquidation.

What's next for CRV and the DeFi ecosystem? Share your thoughts below! 👇 #crypto #blockchain #DeFi