🔥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

🔥Hot off the press!🔥 BTC's recent dip post-Fed's rate projections doesn't faze 10x Research. They're sticking with Bitcoin, the proven winner, and anticipate a rally soon. 🚀

The Fed's hawkish interest rate projections sent BTC tumbling to $67,400, reversing its post-CPI jump to $70,000. But 10x Research sees a silver lining in the softer-than-expected CPI release. Historically, lower CPI numbers have lifted Bitcoin prices, and they expect this trend to continue.

10x's Markus Thielen points out that the slowdown in inflation has historically attracted huge inflows into U.S.-listed spot bitcoin ETFs. With the ETFs amassing $100 million on Wednesday, snapping a two-days outflows streak, it seems the trend is holding strong.

Thielen predicts the Fed will signal more rate cuts later this year as inflation has already peaked. So, Bitcoin enthusiasts, keep your eyes peeled and your spirits high! 💪 What are your thoughts? Share them in the comments! #Bitcoin #CryptoNews

🚀Former President Trump is calling for a domestic Bitcoin mining boom in the U.S., aiming for all remaining Bitcoin to be produced stateside. This announcement, made on his Truth Social platform, has drawn mixed reactions from the crypto community.🤔

While some see this as a powerful signal for the importance of crypto, others argue that centralizing hashrate production in any one country is unwise. Especially considering the Biden administration's proposed 30% Bitcoin mining tax.

But hey, let's not forget that Bitcoin is a global phenomenon, and it's unlikely that mining could ever be centralized in one region.

What's your take on this? Is Trump's call for domestic Bitcoin mining a step forward or a misstep? Let's discuss in the comments! #BitcoinMining #CryptoNews

🚨Big news in the #crypto world! Terraform Labs and former CEO Do Kwon have agreed to pay the SEC a whopping $4.5 billion in penalties. This comes after a settlement agreement was filed, which also includes a permanent ban on Kwon and Terraform Labs from trading crypto asset securities.🔒

This is a significant development in the ongoing saga of Terraform Labs. The settlement still needs a nod from the New York judge overseeing the case. The SEC lawyers are urging for approval, stating it will send a strong deterrent message to those who seek to evade federal securities laws.👨‍⚖️

Interestingly, the hefty penalty is slightly lower than the SEC’s initial settlement offer of $5.3 billion but way higher than Terraform Labs' suggested $1 million. Kwon himself is liable to pay at least $204 million from his own pocket.💸

What do you think this means for the future of Terraform Labs and the broader crypto market? Share your thoughts below!👇 #BlockchainNews #SEC #TerraformLabs

🚀Digital assets are no longer on the fringe! With the debut of Bitcoin ETFs and the anticipated arrival of Ethereum ETFs, they're capturing global investment and transforming the financial landscape.🌐

These assets offer a unique opportunity for institutional investors to participate in the birth of a new asset class. They're not just a tech curiosity anymore, but a distinct market niche with unparalleled growth potential and diversification benefits.💼

Bitcoin's correlation with the Nasdaq Composite stands at 0.60, up from 0.0 two months ago, indicating its potential as a diversification tool. This low correlation enhances the resilience of a well-balanced investment portfolio.📈

Choosing the right tokens is key. Bitcoin and Ethereum are indispensable, while tokens like Solana and Chainlink warrant consideration. Investing in an index like the CoinDesk 20 offers diversification and risk management benefits.🔑

Navigating the crypto landscape can be challenging, but trusted asset managers can streamline the process, guiding institutional investors into strategies that make sense for their portfolios.🧭

The crypto market is a formidable force in the modern financial ecosystem. Despite the challenges, the opportunities are too compelling to overlook. What are your thoughts on this shift? Let's discuss!💬 #CryptoNews #Blockchain #Bitcoin #Ethereum #DigitalAssets

🚀🔥 SEC's recent approval of ETH ETFs is a game-changer for Ethereum! Unlike Bitcoin, Ethereum has been grappling to distinguish itself among smart contract platforms. But now, it's one of the two major cryptos unlikely to be dubbed securities by U.S. regulators.

This is HUGE for institutional investors, clearing up regulatory uncertainties and making Ethereum a more appealing choice. Ethereum's dominance in developer activity is also likely to continue, especially for large projects.

Ethereum's project pipeline is robust, with EigenLayer, Ethena, and BlackRock’s BUIDL making waves. Ethena's synthetic dollar (USDe) alone has amassed a whopping $3 billion market cap in just a few months!

A higher ETH price could kick-start the Ethereum DeFi economy, creating a powerful feedback loop. It could act like a stimulus package for its crypto economy, leading to more spending, investment, and leverage.

Could this be the moment Ethereum becomes the "Amazon" of the digital asset economy? Only time will tell, but Ethereum's dominance sure looks promising. What do you think? Let's chat in the comments! #ETH #CryptoNews

🚀📊 Bitcoin miners are cashing in! A whopping $209M worth of BTC was transferred from mining pools to exchanges, coinciding with BTC's dip from $70K to $66K. OTC volume also hit a two-month high. U.S. miner Marathon Digital sold 1,400 BTC ($98M) since June began.

Miners' daily revenue is now $35M, down 55% from March's peak of $78M, due to lower transaction fees post-halving. Despite the dip, the market remains vibrant and dynamic.

What's your take on this? Are miners making the right move? Let's discuss! #CryptoNews #BitcoinMining

🔥Hot off the press!🔥 The world of banking is becoming a battleground as anti-money laundering (AML) rules are causing havoc for everyone from high-ranking officials to everyday folks. Even former Bank of England chief economist Andy Haldane was denied a bank account due to being "politically connected." 🏦🚫

Banks are closing accounts left and right, with the UK's largest banks shutting down over 140,000 company accounts in 2023 alone. The culprit? AML rules that make many "normal" customers unprofitable. 😱💼

But it's not just businesses feeling the squeeze. Individuals are also being hit hard, with some having their accounts closed due to crypto asset activity. And it's not just happening in the UK. Both Bank of America and JPMorgan Chase have been accused of politically motivated de-banking. 🏦🌍

The situation is dire, but there's a glimmer of hope on the horizon. Crypto is emerging as a practical alternative, offering a level of security that traditional banks can't match. As more people turn to crypto, we could see a virtuous cycle of increased usability and network effects. 🚀💰

So, what do you think? Is crypto the answer to the banking industry's woes? Or is there another solution? Let's get the conversation started! 💬👇

🔥Hot off the press! AI and crypto could be the dynamic duo we didn't know we needed, potentially adding a whopping $20 trillion to the global economy by 2030, says Bitwise's latest report. 🚀

Bitcoin miners, with their powerful chips and hi-tech cooling systems, are sitting on a goldmine of resources that AI firms are craving. Just look at CoreWeave's recent takeover offer for miner Core Scientific, and their $3.5 billion deal to host AI services.

But the magic doesn't stop at mining! Crypto and AI could also intersect in areas like information validation and virtual assistants. 🧠💡

What do you think? Are we on the brink of a tech revolution? Let's discuss! #Crypto #AI #BlockchainNews

🚀MetaMask, Ethereum's top wallet, is launching a "pooled staking" feature, making it more affordable to contribute to the blockchain's security. This feature allows users to participate in Ethereum staking, a popular crypto investment strategy.

💰Staking usually requires users to tie up 32 ETH, about $112,000 at current prices. "Pooled" services like Lido, Rocket Pool, and now MetaMask, bundle assets from various users, allowing anyone to stake, even if they don't have 32 ETH.

🔒"With Pooled Staking, MetaMask users now have an easy way to stake ETH in enterprise-grade validators while maintaining full control of their ETH, earning rewards and making Ethereum more secure," said Matthieu Saint Olive, senior product manager at Consensys.

However, MetaMask won't offer its own liquid staking tokens (LSTs), unlike Lido and Rocket Pool. Also, the new feature won't be available in the U.S. or UK initially.

What are your thoughts on MetaMask's new feature? Let's discuss! #CryptoNews #Ethereum #Staking

🔔Zimbabwe is calling for insights from the crypto industry to shape its policy! The government has set up a committee to consult digital asset operators, with comments due by June 26. This move follows similar steps taken by other countries like South Africa and Nigeria to understand and regulate the crypto sector. 🌍

Zimbabwe's crypto activity may not be as high as Nigeria's, but it surpasses over 50 nations in its 2023 crypto use ranking. The country has even experimented with a gold-digital-backed token, ZiG, to address its economic issues. 🚀

What do you think about Zimbabwe's move towards understanding crypto? Share your thoughts below! #CryptoNews #ZimbabweCrypto

🔥Hot off the press! The fusion of generative AI and Web3 is creating a buzz in the crypto world! 🌐💡 Decentralized compute, zero-knowledge AI, and AI-first chains are just a few of the trends aiming to make AI workloads Web3-native.

But what if the integration of Web3 and AI was financial, not just technical? 💰 Turns out, crypto's programmable finance could be the answer to one of generative AI's biggest challenges - funding for open-source projects.

Despite the innovation in decentralized generative AI, the gap with centralized AI tech is growing. 📈 The adoption challenges for decentralized AI platforms are huge, but hope lies in the rapid evolution of open-source generative AI.

However, open-source generative AI is facing a massive funding issue. 💸 The costs of building large frontier models are astronomical and out of reach for most university labs.

Crypto capital could be the solution. 🚀 Crypto tokens have been a primary vehicle for capital formation for Web3 projects. Could these principles be applied to open-source generative AI?

Imagine a university AI lab needing to raise $10 million for pre-training an LLM. Multiple DAOs and foundations could contribute to a Gitcoin grant, creating a more efficient funding mechanism. 💡

What are your thoughts on this? Could crypto be the financial bridge between Web3 and generative AI? Let's discuss! 🗣️ #crypto #AI #Web3 #opensource

Note: Views are those of the author and not necessarily CoinDesk.