Leftgatekeepers

• Chris Burniske, the co-founder of Placeholder, has suggested that the banking crisis is positive for cryptocurrencies as it drives up demand for alternative payment methods.
• He believes that cryptos are more reliable during emergencies and will ultimately prevail in their legal battles.
• Burniske also warned of potential disinflation resulting from the banking crisis, which may cause short-term difficulties but could ultimately benefit companies and cryptos in the long run.

Crypto Expert Believes Banking Crisis is Positive for Crypto

Chris Burniske, a crypto expert and investor and the co-founder of Placeholder, believes that the current banking crisis provides an opportunity to drive up demand for alternative money and payment methods such as cryptocurrencies. According to Burniske, decentralized alternatives to traditional banking can be more dependable and secure during emergencies than conventional financial institutions. He also believes that despite short-term market volatility, this situation will be constructive for the long-term prospects of cryptos.

Legal Battles Will Strengthen Cryptocurrencies

Burniske has discussed the importance of understanding open data and cryptography when it comes to recent industry legal battles. He emphasized that these technologies are essential infrastructures in our society’s challenges which can be solved using blockchains or Artificial Intelligence (AI). Although there have been some setbacks in this regard, he remains confident that they will ultimately prevail.

Banking Crisis Could Lead To Disinflation

The crypto expert also noted with alarm a potential disinflation resulting from the banking crisis. This could potentially dry up credit while giving central banks cover to cut interest rates—both of which could present immediate difficulties but possibly benefit companies and cryptos in the end. Despite these risks associated with investing in digital currencies, many experts agree with Burniske’s view on how this situation affects cryptocurrency markets long-term.

Crypto Adoption Rising Among Voters

Burniske pointed out that crypto is becoming an important issue among voters ahead of 2024 US elections—a sign he says shows “us winning”—and added his own opinion about how severe actions taken by governments could make him vote Republican for once in his life if Trump isn’t reelected president next year.

Conclusion: Crypto Demand Expected to Increase

In conclusion, many experts agree with Chris Burniske’s view on how this situation affects cryptocurrency markets long-term; as consumers are losing faith in conventional financial institutions, demand for coins is expected to increase due to their perceived reliability during times of emergency or economic turmoil compared to traditional systems.

• Peter Brandt recently warned traders about two large chart gaps in bitcoin that could potentially lead to a decrease in price.
• The surge in Bitcoin’s value is due to investors turning towards cryptocurrencies as a refuge from the stock market crash caused by the SVB bank failure.
• Traders must be aware of the possible implications of these gaps and take a cautious approach when investing in the cryptocurrency market.

Warning Against Bitcoin Market

Peter Brandt, a well-known trader, recently took to Twitter to warn traders about two large chart gaps present on bitcoin’s chart that could potentially lead to a decrease in its value. This warning comes as Bitcoin has surged above $28,000 following the catastrophic failure of SVB Bank which resulted in a wave of liquidations and investors turning towards cryptocurrencies as an escape from the volatile stock market.

Gaps Hypothesis

The “gaps hypothesis” proposes that all gaps present on charts ought to be filled at some point in time, which serves as the basis for Brandt’s warning against bitcoin investments. As such, it is essential for traders and investors alike to remain vigilant regarding possible changes and dips that may occur due to these unfilled gaps.

What Are Chart Gaps?

On charts, gaps are empty areas created when an item’s price drastically increases or decreases without any trading activity between those prices levels. These often occur due to drastic changes in attitude within markets or dissemination of important news. Thus according to this hypothesis, if proven correct, then bitcoin may return back down closer to lower levels than its current standing at $28,000 with no protection from further losses.

Cautious Approach Advised

Due to crypto currencies unpredictable nature it is wise for traders and investors alike to research thoroughly before investing as well as being able adapt quickly when unexpected shifts arise within markets. This advice is especially true when taking into consideration Brandt’s warnings regarding potential downward shifts caused by unfilled chart gaps on bitcoins chart.

Conclusion

Despite Bitcoin offering many investors refuge due caution should still be taken when dealing with cryptocurrencies given their volatile nature as well their potential susceptibility towards negative price movements caused by their respective charts unfilled gaps according Peter Brandts warnings against investing in them

• The value of Binance Coin (BNB) has risen significantly, currently trading at $309.83 with a 24-hour trading volume of $1,448,739,161 and a 7.85% increase over the last seven days.
• Binance recently announced its decision to convert the remaining $1 billion Industry Recovery Initiative funds from BUSD to native cryptocurrencies such as BTC, BNB, and ETH.
• Additionally, Binance CEO Zhao hinted at the possibility of purchasing banks in response to the recent issues faced by crypto-friendly banks.

BNB Skyrockets As Cryptos Rally

The value of Binance Coin (BNB) has experienced an impressive surge recently, as it is currently trading at $309.83 with a 24-hour trading volume of $1,448,739,161 and a 7.85% increase over the last seven days. This represents an impressive 13% increase in the past 24 hours and its market capitalization is currently valued at $49,282,559,059 based on its circulating supply of 160 million BNB.

Binance Adapts To Changes In Stablecoins And Banks

In light of recent developments in the stablecoin and banking industries, Binance has announced its decision to convert the remaining $1 billion Industry Recovery Initiative funds from BUSD to native cryptocurrencies such as BTC, BNB, and ETH. This conversion will involve some on-chain fund movements to ensure complete transparency. By converting these funds to native cryptocurrencies, Binance is positioning itself to remain competitive in this rapidly evolving industry while still providing full transparency for its users.

Possibility Of Purchasing Banks?

Binance CEO Zhao has hinted at the possibility of purchasing banks in response to recent issues faced by crypto-friendly banks. He shared a 2022 news story that suggested that they were considering buying a bank but noted that he was still determining if this was suitable timing for them to move forward with such an acquisition or not. This could indicate their efforts towards expanding beyond cryptocurrency services and integrating more into traditional financial systems if they go ahead with such a purchase.

Recovery Funds Converted To Native Crypto

In addition to their potential acquisition plans discussed above; Binance has also decided to convert their remaining industry recovery initiative funds from BUSD into native cryptocurrencies like BTC; ETH &BNB respectively for better adaptability within these changing times as well as providing users with full transparency when it comes down funding movements that occur on chain within their platform .

Conclusion

Overall it’s clear that despite being faced with various challenges brought about by changes within both stablecoin & banking industries; binance have been able take proactive steps towards ensuring that they remain competitive & reliable within this space .This includes taking advantage of opportunities presented by these changes including potentially looking into acquiring banks if deemed feasible .

• Former Tornado Cash developer, Ameen Soleimani, has now developed a new mixing service called Privacy Pools to address a critical flaw of the sanctioned crypto mixer.
• Privacy Pool’s public demo goes live and it enables customers to demonstrate their compliance with local laws while protecting anonymity when conducting on-chain transactions.
• In 2022, American authorities forbade local citizens from using Tornado Cash due to North Korean hacking group Lazarus using the site to launder stolen money.

Introduction

Former Tornado Cash developer, Ameen Soleimani, has now developed a new mixing service called Privacy Pools to address a critical flaw of the sanctioned crypto mixer.

What is Privacy Pools

Privacy Pools uses zero-knowledge (ZK) proof enabling its users to demonstrate that their withdrawals are not a part of illegal transactions. With Privacy Pools, ethereum (ETH), the second-largest cryptocurrency, can be anonymously sent and received using a demo of the new coin-mixing tool. However, unlike Tornado Cash, it enables customers to demonstrate their compliance with local laws while protecting anonymity when conducting on-chain transactions.

Why was Tornado Cash Sanctioned?

In 2022, American authorities forbade local citizens from using Tornado Cash due to North Korean hacking group Lazarus using the site to launder stolen money. The US Treasury Department claimed that Tornado Cash was crucial in laundering more than $7 billion.

Privacy Pool’s Public Demo Goes Live

Privacy Pool’s public demo is currently available online and it can be used as an American citizen without any issues with local laws or regulations. The team behind Privacy Pool are still working on fixing some bugs in the code before releasing it for general use in full capacity.

Conclusion

Ameen Soleimani has addressed one of the major issues with crypto mixers through his development of Privacy Pools which allows users to anonymize their transactions while also demonstrating compliance with all applicable laws and regulations at the same time.

• Bitcoin has become increasingly scarce with more remaining dormant outside of exchanges.
• A partnership between Glassnode and Reflexivity Research is bringing on-chain market intelligence to digital asset investors.
• Reactions to the low balance on exchanges indicated that investors had lost an estimated 3.7 million coins, with the number expected to rise by 2030.

Bitcoin Supply Crunch

The amount of bitcoin available on exchanges has been steadily declining in recent years due to more bitcoin remaining dormant outside of them. This has created a supply crunch for those looking to buy or sell the cryptocurrency.

Glassnode and Reflexivity Research Partnership

Glassnode, an on-chain analytics firm, has partnered with Will Clemente and Reflexivity Research to provide digital asset investors with market intelligence insights. The announcement was made via Twitter, where Will Clemente also shared his thoughts about the low balance held by exchanges compared to other digital wallets.

Reactions To Low Balance On Exchanges

Will Clemente’s tweet provoked many reactions from other users online. For example, one user agreed that 2.6 million coins hadn’t moved in 10 years while another claimed that an estimated 3.7 million coins had been lost according to Chainanalysis‘ 2020 study, predicting that this number would rise even further by 2030. Another user compared BTC’s growth and evolution to the construction of cathedrals in Europe which took 150 years before it became seamless – indicating BTC will take time before its operations are smooth as well.

Hodlers’ Anthem

A user named HODL&13 bragged about how bitcoins held for more than 10 years have never gone down in value – suggesting it remains a good investment even during times when its value fluctuates wildly or drops significantly within short periods of time.

Conclusion

It is clear that while there is less bitcoin available on exchanges due to most being held elsewhere, there is still strong demand for it as people continue investing heavily despite its volatile nature or risk of losses due to market instability or fraudulent activities associated with some transactions conducted using cryptocurrencies like bitcoin

• Bitcoin miners and short-term holders are selling despite the coin recently rallying to retest $25k for the first time this year.
• Data shows that the bitcoin miner outflow multiple is at a 1-month high of 0.834, suggesting miners are leveraging the asset’s recent upsurge to take profits, leading to a massive outflow.
• The BTC number of spent outputs with a lifespan between 1 week and 1 month has hit a 20-month high of 5,333.315, which suggests that BTC holders holding their coins within this time frame are willing to spend them.

Bitcoin Miners & Short-Term Holders Selling

Bitcoin (BTC) miners and short-term holders are selling despite the coin recently rallying to retest $25k for the first time this year. Meanwhile, long-term holders and whales appear to be accumulating.

Miner Outflow Multiple High

Data from blockchain data provider Glassnode reveals that the bitcoin miner outflow multiple is currently at a 1-month high of 0.834, surpassing its previous high of 0.826 observed on Jan 24th 2021. This indicates that miners are taking advantage of the asset’s current upsurge in order to take profits, resulting in an increased outflow rate. Additionally, Glassnode’s Miner Position Index (MPI) suggests that bitcoin miners continue to send out their tokens at moderate rates – potentially dumping them onto the market – while hash rate continues its upwards trend reaching 317 EH/s recently.

Short Term Holder Distribution Campaign

The Number of Spent Outputs with Lifespan between 1 Week & 1 Month has hit a 20-month high of 5,333 according to Glassnode data; this implies that short term holders have been eager to cash in on Bitcoin’s current uptrend as well as possibly dumping their coins onto the market for profit taking reasons. This was highlighted by pseudonymous analyst Venture Founder who outlined this distribution pattern from short term holders over the past 30 days specifically stating “the biggest UTXO distribution took place on Feb 16th when more than 40K Bitcoins were sent outside exchanges”

Whales Accumulating

Despite miners & short term holders selling off their coins; long term holder accumulation appears to be increasing as well as whale activity according to blockchain analytics firm Santiment which reported “We’ve seen 6 whales join #Bitcoin since yesterday morning“. They also noted „Whale wallets now hold 25% more BTC than they did just two weeks ago“. These wallets refer primarily those holding 10K or more Bitcoins according numerous reports from 2020 onwards indicating further signs of institutional accumulation & long term confidence in Bitcoin itself given its recent price action and other developments such as Tesla accepting it for payments along with various large corporations investing into it directly such as MicroStrategy Incorporated and Square Incorporated .

Conclusion

Overall it appears that most investors remain bullish about Bitcoin’s prospects regardless if they’re holding it for longer periods or not; however there does appear some profit taking behavior evident due to certain metrics indicating increased miner & short term holder selloffs which could lead us back into bearish territory if sustained over extended periods but until then most investors remain cautiously optimistic about Bitcoin’s future performance given its current trajectory .

• Andrew Tate, a British-American social media influencer and kickboxing champion, was arrested in Romania for human trafficking, sexual assault and forming an organized criminal enterprise.
• Romanian police seized millions of dollars worth of luxury cars, homes and watches from Tate and his associates. They also found hardware wallets with digital assets worth over $100k from both Andrew and Tristan.
• Andrew has been praised for encouraging crypto investments but there have been allegations that he used crypto to dodge taxes.

Infamous British-American Social Media Influencer Arrested

Andrew Tate, the infamous British-American social media influencer and five-time world kickboxing champion was arrested in December 2022 in Bucharest, Romania following accusations of human trafficking, sexual assault and forming an organized criminal enterprise.

Police Seize Assets From Suspects

Romanian authorities seized millions of dollars worth of luxury cars, homes and watches from Tate and his associates. In addition to this they also discovered hardware wallets belonging to both Andrew and his brother Tristan containing digital assets totaling over a hundred thousand dollars together (five bitcoins belonging to Andrew amounting to about $110k; 16 bitcoins held by Tristan amounting to about $465k).

Andrew Praised For Crypto Investments

In December 2022, Altcoin Daily – a YouTube channel with over one million subscribers – applauded Tate’s encouragement of cryptocurrency investment mainly BTC and ETH. Michael Saylor (CEO of MicroStrategy) apparently exchanged mutual back pats with Tate over the matter too. However it is yet unclear how much financial gain or personal conviction drove him toward cryptocurrencies.

Allegations Against Andrew

It appears that Tate may not be entirely above board when it comes to crypto as there have been allegations that he bragged about using crypto to dodge taxes while running a pornographic webcam business which reportedly made him up to $600,000 each month employing seventy five sex workers. The IRS lists bitcoin payouts to performers as employment income requiring taxable payments but unfortunately it appears that Tate is insistent on being above the law here too.

Conclusion

Andrew Tate has come under scrutiny due to his involvement in illegal activities as well as his alleged use of cryptocurrencies such as Bitcoin (BTC) in order to dodge taxes while running a pornographic webcam business making up to $600K per month employing 75 sex workers . Despite this he has still gained some positive attention for his encouragement of cryptocurrency investment via platforms like Altcoin Daily where he was praised by Michael Saylor (CEO of MicroStrategy). It remains unclear however whether this support was based on personal conviction or financial gain on his part

• Umami Finance CEO Alex O’Donnel has dumped his tokens, resulting in a 50% drop in price.
• The team resigned but is still planning to retain the DAO structure and continue with vault launches.
• UMAMI, the token on the platform, fell 59% in the past 24 hours.

Umami Finance CEO Dumps Tokens

The Umami Finance CEO Alex O’Donnel appears to have dumped his large share of UMAMI tokens, leading to a 50% drop in price.

Umami Team Resigns

The team resigned due to recent actions and statements by the CEO, however they are still aiming to keep up with a DAO structure and launch vaults as planned. CryptoCondom on Twitter has mentioned that he will launch a proposal tomorrow entailing the team’s rehiring as DAO employees.

Umami Compliance Review

On Feb. 2nd, Umami released an update on their evolution protocol where they reviewed their compliance strategy ahead of the planned GLP Vault launch on Mar. 9th. The platform is focused on ensuring optimal regulatory pathways for the vault and UMAMI staking contract.

UMAMI Token Price Drop

UMAMI, the native token on the platform, fell 59% in the past 24 hours to $9.2 at time of writing with its 24-hour volume increasing 422%. Silo Finance recently deployed on Arbitrum network allowing for risk isolation lending markets for any tokens beginning with UMAMI MAGIC and DPX .

Conclusion
In conclusion, due to recent events involving Umami Finance’s CEO dumping his tokens there has been a significant decrease in token value and uncertainty surrounding whether or not they will be able to resume yield payments to stakers but hopefully this issue can be resolved soon so that users can continue benefiting from this project’s services.

• Voyager Digital is being accused of misinforming the public about its financial state, and a creditor has requested a Chapter 11 trustee to take control of the firm’s estate on February 2, 2023.
• Michelle DiVita, the voyager victim and financial lawyer, believes that a trustee should have been appointed for Voyager’s bankruptcy situation.
• Financial reports from Mar. 31 showed $2.2 billion while actual loans as of Apr. 3 stand at $3.1 billion, leaving a gap of $1 billion in one day allegedly submerged in the books.

Accusation Against Voyager Digital

A voyager creditor, Michelle DiVita, is reportedly calling for a Chapter 11 trustee to seize the bankrupt firm’s estate accusing Voyager Digital of misinforming the public about the company’s financial situation including publishing inaccurate data and public misrepresentation.

Motion Filed by DiVita

Mitchelle DiVita filed a motion on Feb. 1 requesting the crippled firm’s trustee to seize Voyager’s estate alleging that Voyager hid book information from creditors including understated loans totaling $1 billion.

Missing Links Discovered By DiVita

According to her filing, reports indicate that Voyager misinformed the public through inaccurate data with financial reports on Mar. 31 showing $2.2 billion while the actual loans as of Apr. 3 stood at $3.1 billion leaving a gaping hole of about $1 billion allegedly submerged in the books in one day.

Possible Turn Around?

Shigo Lavine, former director of Voyager Digital claimed that if there are fraudulent activities hidden in the company’s financial books then this motion can bring some change in Voyager’s bankruptcy case as it was found out that they undervalued bitcoin (BTC) at market price by 546% to hide missing links to loans credited to their account by 3AC which were materially undervalued BTCs used for loan repayment reporting purpose .

Conclusion:

The future looks bleak for Voyage Digital as mounting accusations point towards their wrongdoings leading them into bankruptcy and beyond depending upon what legal action will be taken against them due to these findings including appointing trustees or fining them heavily according to law enforcement proceedings if any criminal activity is suspected or proved against them going forward

• Head of Central Bank of Ireland, Gabriel Makhlouf, has advocated for a ban on cryptocurrency-related advertising.
• Makhlouf believes that investing in cryptocurrencies without any traditional assets is gambling and exposes investors to high-risk investments and even scams.
• The Central Bank of Ireland issued a warning regarding the dangers of investing in digital currencies like bitcoin back in March 2022.

The Central Bank of Ireland has recently been advocating for a ban on cryptocurrency-related advertising in order to protect investors. This announcement was made by the head of the Central Bank, Gabriel Makhlouf, who believes that investing in cryptocurrencies that are not backed by any traditional assets is gambling. He claims that these advertisements often expose investors to high-risk investments and even outright scams, with many young adults being targeted by them.

Makhlouf has likened unbacked cryptocurrencies to Ponzi schemes, as he believes individuals are often compelled to invest their money in these types of cryptocurrencies without any backing. He also noted that most of the prominent cryptocurrencies available fall into this category, and emphasized the targeting of young individuals in crypto advertising and the potential negative impact on this impressionable group.

The Central Bank of Ireland has previously warned about the dangers of investing in digital currencies such as bitcoin. This warning came in March 2022, when Derville Rowland, a leading official at the bank, stated that these assets are speculative and unregulated and that individuals should exercise caution when dealing with them.

In light of these warnings and Makhlouf’s recent advocacy for a ban on cryptocurrency-related advertising, the Central Bank of Ireland is taking steps to protect investors from the potential risks associated with investing in cryptocurrencies. It is hoped that these measures will help to ensure that individuals are not misled or taken advantage of when it comes to investing in digital currencies.