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Raoul Pal, Real Vision Group CEO, Makes Waves With Dogwifhat (WIF) Investment

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At the forefront of a distinctive trend in the fast-paced cryptocurrency realm stands Raoul Pal, the visionary founder and CEO of Real Vision Group. Pal has recently garnered attention by revealing his stake in dogwifhat (WIF), a dog-themed meme coin thriving on the Solana blockchain. With a stake of under 2%, Pal’s participation highlights the surging popularity of this canine-inspired digital asset.

Pal’s revelation comes amidst a remarkable surge in the market value of WIF, showcasing impressive gains over recent months. This particular meme coin has captivated the attention of crypto enthusiasts worldwide, thanks to its swift appreciation and its distinctive dog-themed branding.

Since its debut late last year, Dogwifhat has experienced an exponential rise in popularity, riding on the coattails of other successful canine-themed coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK).

Bolstered by a rallying crypto market, WIF witnessed a staggering 33% surge in value over the past 24 hours alone, trading at $3.11 according to CoinMarketCap data. Raoul Pal also highlighted its astounding growth rates: a remarkable 1,600% surge in 90 days, complemented by 600% in 30 days and 54% in seven days, respectively.

Raoul Pal Notes WIF’s Market Value Surpassing $3.1 Billion

The meteoric ascent of WIF has been nothing short of spectacular. Within a few short months of its inception, it surpassed Floki (FLOKI) to claim the title of the fourth-largest meme coin by market capitalization, boasting a total market value of $3.1 billion. While still a fraction of the size of DOGE, which sits comfortably in the 10th position among all cryptocurrencies with a market cap of $26 billion, WIF’s rapid success is undeniable.

In a striking testament to the profitability of meme coins, Arkham Intelligence recently unveiled the staggering success of a savvy trader who capitalized on the fervor surrounding dogwifhat, generating an eye-watering 33,000% return on investment. 

This trader turned a modest $6,000 in SOL (Solana’s native token) into millions in realized profit. While the exact quantity of WIF owned by Raoul Pal remains unclear, his exposure underscores the widespread embrace of this burgeoning trend. Pal clarified that he is not endorsing WIF but rather indulging in the lighthearted fun surrounding the token.

Furthermore, recent reports have surfaced regarding the enthusiastic support from WIF’s community. Supporters have rallied to raise substantial funds, aiming to display the token’s mascot—a Shiba Inu donning a pink beanie—at Las Vegas’ iconic Sphere entertainment venue. Surpassing its fundraising target of $650,000 in less than four days, this campaign highlights the fervent following behind WIF and its unique brand identity.

In the ever-evolving landscape of cryptocurrency, Raoul Pal’s stake in dogwifhat serves as a testament to the growing influence and potential of meme coins, captivating both seasoned investors and newcomers alike.

Bitcoin ETFs Witness Unprecedented Demand, Fueling Price Speculation

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In a remarkable turn of events, Bitcoin Exchange-Traded Funds (ETFs) have not only exceeded the initial excitement observed during their launch but have also achieved a new pinnacle of market engagement. The methodology employed to gauge these Bitcoin acquisitions entails dividing the daily monetary inflow by Bitcoin’s mean price, thereby underscoring the ETFs’ significant influence on the market.

Following a period of dwindling inflows coinciding with a decline in BTC’s value, the ETFs have staged a robust recovery. Present trends indicate not merely a resurgence but a continuous uptick in investments.

This burgeoning demand for BTC via ETFs, juxtaposed with the daily influx from mining pegged at roughly 900 bitcoins, is propelling an upward trajectory in BTC prices. Anticipation looms for this disparity to widen with the imminent BTC halving event, set to halve the daily mining output to 450 bitcoins.

In a LinkedIn post dated March 14, Clive Thompson, a former wealth management managing director with expertise in Swiss Private Banking, alluded to a plausible correlation between ETFs increasing BTC holdings and the cryptocurrency’s price surge.

Bitcoin’s Market Dynamics And ETF Influence

This conjecture intimates that ETF activities might wield pivotal influence over Bitcoin’s market dynamics. Despite price undulations, Bitcoin’s overarching trend remains bullish, buoyed by a robust Cryptocurrency Fear and Greed Index rating of 91, indicative of resolute market sentiment.

The prevailing market dynamics hinge primarily on two factors: the anticipation surrounding the BTC halving event, anticipated to inaugurate the next bullish cycle, and the sustained interest in ETFs. The advent of BTC ETFs has been particularly impactful, drawing institutional investments and broadening the cryptocurrency’s appeal.

Per Kaiko Research, liquidity depth in the BTC market has scaled unprecedented heights, with a conspicuous imbalance between bid and ask orders in order books, hinting at a trend of profit-taking among traders. Nonetheless, elevated refinancing rates underscore enduring demand for BTC.

The surging interest in spot Bitcoin ETFs, from both institutional and retail investors, is leaving a palpable imprint. With BTC ETFs inching closer to $60 billion in assets under management (AUM) and swiftly narrowing the gap with Gold ETFs, which hover around $98 billion, the momentum portends a potential shift in investment predilections.

Supporting this view, Balchunas from Bloomberg Intelligence predicts that all 10 BTC ETFs are positioned to surpass Gold ETFs in terms of assets under management (AUM).

Even the lowest-ranked among them, WisdomTree’s BTCW, already commands $74 million in management, situating it in the top 15% of the 108 ETFs launched in 2024, underscoring robust market acceptance and growth prospects for Bitcoin ETFs.

Dutch Central Bank Slaps Crypto.com With $3m Fine Over Compliance Breach

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Foris DAX MT, the holding company of Crypto.com, has incurred a hefty fine of €2,850,000 (equivalent to approximately $3.1 million) imposed by the Dutch central bank, De Nederlandsche Bank (DNB). The fine was levied due to violations of local anti-money laundering regulations and legislation pertaining to counteracting terrorist financing.

Under the anti-terrorist financing legislation, companies providing cryptocurrency services within the Netherlands are mandated to register with DNB. This requirement was reiterated in a press release issued on March 13. The imposition of penalties is a consequence of failing to comply with this regulatory mandate.

In terms of the “extent and length of the failure to comply,” which persisted from late May 2020 until at least early November 2022, DNB categorized Foris DAX MT’s violation as falling within category 3. A spokesperson from Crypto.com expressed discontent with the imposed fine, that the issue had been rectified previously and does not impact the company’s present operations or services.

“We are disappointed and disagree with DNB’s decision to fine Foris DAX MT and are actively appealing this decision. Moreover, we have already addressed the concerns raised in a timely and transparent manner and received regulatory approval from DNB as a crypto service provider in July last year.”A spokesperson for Crypto.com

Crypto.com Responds To DNB’s Enforcement With Regulatory Commitment

Crypto.com declared that it will work with DNB and international regulatory organisations. With this fine, the Dutch central bank has fined a cryptocurrency corporation six figures for the first time.The authority penalised cryptocurrency firm Binance $3.3 million in April 2022 for operating in the nation without registering. 

In July 2023, Binance made the decision to exit the Netherlands market, despite initially communicating to users that it was in the process of obtaining a virtual asset service provider (VASP) license from DNB. 

Similarly, Coinbase Europe faced repercussions from the Dutch central bank in January 2023, when it was levied an administrative fine totaling €3.33 million for conducting operations within the country without completing the necessary registration with the monetary authority.

Nigeria Considers $10 Billion Fine Against Binance Over Economic Impact

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According to reports, Binance is under pressure from the Nigerian government to disclose information about its top 100 clients in the country, amid an intensifying attack on the exchange. Nigerian authorities have requested that Binance submit its transaction history for the last six months, as well as details on the top 100 users of the platform, according to a Financial Times piece published on March 13.

The article also mentions that Binance has been asked to settle any unpaid tax obligations by the office of Nigeria’s national security adviser. The request is a result of discussions between Nigeria and Binance, where Nigeria claimed that Exchange had a significant influence on the naira, the country’s currency. 

Presidential advisor on information and strategy Bayo Onanuga claimed that Binance and other cryptocurrency platforms have manipulated the naira, causing a sharp drop in the value of the country’s fiat currency. The official recommended prohibiting websites such as Exchange within the nation.

Tigran Gambaryan and Nadeem Anjarwalla, two senior Binance officials, were detained by the local prosecutors in reaction to Binance’s attempt to establish communication with Nigerian authorities. Even after Exchange delisted all naira transactions and terminated peer-to-peer naira transactions in late February, the executives are still being held.

Nigeria Pressures Binance Amid Allegations

According to Onanuga, Gambaryan and Anjarwalla are providing copious amounts of information and collaborating with Nigerian authorities. Additionally, he said that Nigeria might wish to pay them $10 billion because they had seriously damaged the country’s economy.

The office of the National Security Adviser stated: “Let’s provide law enforcement organizations the time and room they need to execute their jobs. We’ll update you on the outcome later. Regarding the allegations made by the Nigerian government, Exchange remained silent. 

According to a Binance representative, the company did not entirely withdraw from Nigeria. Rather, they made it impossible for users to exchange naira on their platform. Online, some people are curious as to whether Binance can still assist users in Nigeria. According to one person, a corporation is seen to have given up on Nigeria if it ceases offering services relating to Nigerian money.

Nigeria is now among the nations with the fastest-growing cryptocurrency markets in recent years. In 2023, it ranks second in terms of cryptocurrency usage. According to Google searches, Nigeria was the nation most interested in cryptocurrencies in August 2022. 

According to the Financial Times, Nigeria released its currency from pegged to another in June 2023 and allowed it to trade freely. The nation experienced extremely high inflation after that. The National Bureau of Statistics reports that for the thirteenth consecutive month in January 2024, inflation was close to 30%.

Bitcoin ETFs Surpass Mining Production With $1.05 Billion Surge

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In a landmark development for the cryptocurrency market, Bitcoin exchange-traded Funds (ETFs) have seen an unprecedented influx of investments, surpassing even the daily output of newly mined Bitcoins. This surge in investment, totaling a record-breaking $1.05 billion on March 11, has raised eyebrows and ignited discussions among financial analysts worldwide.

The surge represents the highest single-day net inflow since the inception of Bitcoin ETFs, showcasing a staggering increase of approximately 56% from the previous high of $673 million recorded on Feb. 28. What’s more intriguing is the driving force behind this surge in investment. Experts attribute it to the consistent performance of Bitcoin ETFs, which has notably outpaced the production rate of newly minted Bitcoins.

Clive Thompson, a seasoned expert in wealth management and former managing director in Swiss Private Banking, shed light on the disparity between demand and supply in a recent LinkedIn post. According to Thompson, the acquisition of around 7200 BTC’s by new BTC ETFs starkly contrasts with the average daily mined supply of 900 Bitcoins. This supply-demand imbalance has contributed to a notable 5% surge in Bitcoin prices.

A significant player in these market dynamics has been Genesis Holdings, whose bankruptcy led to the liquidation of GBTC shares. Thompson suggests that the conclusion of Genesis’s GBTC share sales around March 13 could potentially influence Bitcoin’s price trajectory, hinting at a potential surge to new highs and subsequent inflows into BTC ETFs.

Bitcoin ETF Market Sees $8.5 Billion Volume Surge

Senior ETF analyst Eric Balchunas notes impressive Bitcoin ETF trading volumes.On March 12, trading volumes soared to $8.5 billion, marking the second-highest volume day for BTC ETFs. Notably, BlackRock’s spot BTC ETF, IBIT, witnessed extraordinary activity, surpassing even the trading volume of SPDR Gold Shares ETF (GLD).

The success of IBIT has spurred further interest in BTC ETFs, prompting BlackRock to seek regulatory approval for additional offerings under Larry Fink’s leadership. Plans include the expansion of cryptocurrency offerings, introduction into emerging markets like Latin America, and the launch of the iShares BTC Trust ETF’s Depositary Receipts in Brazil.

However, the road ahead for new cryptocurrency ETFs, including those for Ethereum (ETH), faces regulatory hurdles. The SEC’s cautious approach towards approving these filings until May has left experts speculating about the likelihood of approval. The lack of dialogue between the SEC and ETF issuers like BlackRock has exacerbated the uncertainty.

Despite these challenges, anticipation looms over forthcoming meetings that could potentially sway the SEC’s stance on these innovative financial products, marking a pivotal moment in the evolution of cryptocurrency investment opportunities.

Ripple’s CTO David Schwartz Highlights Key Trial Development

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Ripple’s Chief Technology Officer (CTO), David Schwartz, has brought attention to a crucial development in the ongoing trial regarding the identity of Bitcoin’s elusive creator, Satoshi Nakamoto.With the trial edging closer to its climax, a formidable crypto alliance spearheaded by the Crypto Open Patent Alliance (COPA) has intensified its scrutiny of Wright, accusing him of perjury and forgery.

The alliance, including prominent entities like Block, Ripple’s creation founded by Twitter’s Jack Dorsey, Coinbase, and Kraken, has vehemently contested Wright’s assertions of being the elusive Satoshi Nakamoto. Jonathan Hough, legal counsel for Ripple through COPA, has unequivocally stated that evidence presented during the trial directly contradicts Wright’s claims. COPA, with Ripple at its helm, has further accused Wright of dishonesty and perpetrating severe fraud during his testimony.

Of particular concern is the allegation of Wright tampering with evidence, which includes accusations of forging documents and displaying deceptive behavior within the courtroom. Ripple, via COPA, intends to use legal means to stop Wright from disrupting the crypto community by claiming to be Satoshi Nakamoto.

Ripple’s Schwartz Exposes Wright’s Defense Flaw

Schwartz’s comments underscore a crucial flaw in Wright’s defense strategy. As a lay witness, Wright’s assertions regarding technical matters carry little weight in the court of law. The focus remains on factual observations and personal knowledge, excluding any speculative claims put forth by the Australian entrepreneur.

The latest development intensifies the growing tensions within the cryptocurrency sphere concerning the authentic identity of Bitcoin’s enigmatic founder. With each passing moment, as the trial edges closer to its conclusion, the significance of potential repercussions becomes increasingly pronounced, not only for Craig Wright but also for the broader landscape of cryptocurrencies.

As the trial progresses towards its resolution, the stakes continue to rise, casting a looming shadow over both Wright and the wider cryptocurrency community. The outcome of this legal battle holds the power to reshape the narrative surrounding Bitcoin’s origins and may significantly influence the future trajectory of the entire cryptocurrency market.

With the credibility of Wright’s claims under intense scrutiny and the crypto community closely monitoring the proceedings, the verdict of this trial could significantly shape the narrative surrounding Bitcoin’s origin and its future trajectory.

Arbitrum DAO Pulls $1.2 Million Support From Tornado Cash Amid Legal Concerns

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An Arbitrum DAO proposal that aimed to provide up to $1.28 million in Bitcoin to support Tornado Cash inventors Alexey Pertsev and Roman Storm in their legal defense against criminal accusations has been withdrawn by the person who created it. According to recent updates, the plan was removed because token holders expressed worries about possible legal responsibilities related to the donation. 

Joseph Axisa, a contributor to Arbitrum, had proposed setting aside money for a fund that would help people who were accused of crimes. Nevertheless, rumors state that the author took the proposal down from the Arbitrum discussion area. 

The plan, which was made public on Wednesday, called for pledging between 200,000 and 600,000 ARB tokens, or roughly $400,000 to $1.2 million, to help with Storm and Pertsev’s legal defense. They are accused of contributing to the creation of Tornado Cash, a smart contract system meant to improve Ethereum transaction anonymity. 

According to a Friday story from Unchained, the plan aimed to help Storm and Pertsev pay for their legal fees. Roman Semenov, a third cofounder who was also indicted, is still at large. But by March 8th evening, the suggestion post had vanished from Arbitrum’s conversation forum. It’s still unclear why exactly it was removed and what happened in the sequence of events that led up to it. 

Arbitrum DAO Pulls Support For WeWantJusticeDAO’s Legal Fundraiser

The Block was also informed by an Arbitrum representative that the proposal was removed at the author’s request. The removed proposal called for the committed contributions, which totaled about $10,000 per month, to support WeWantJusticeDAO’s crowd-funding campaign in order to help Storm and Pertsev with their significant legal bills. As stated in the proposal documents, the proposed tokens were to be housed on Juicebox, a platform dedicated to cryptocurrency-focused fundraising. 

According to a person with knowledge of the matter, members of ArbitrumDAO are actively looking into other ways to pay for the developers’ legal defense in the Tornado Cash project, even after the original plan was removed.

The source claims that funding Coin Centre, a well-known non-profit committed to advocating for Bitcoin legislation, is one possible course of action that is currently being discussed. Furthermore, another insider told The Block that an updated version of the proposal will appear on ArbitrumDAO’s forum some time next week. 

The decentralized finance (DeFi) community has shown the developers a great deal of support since their arrests. As a large part of the cryptocurrency market, DeFi is distinguished by its dedication to the values of financial liberty and innovation, which are quite similar to the values of Tornado Cash and its founders. 

Ethereum’s ETF Approval Odds Plummet Amidst Market Uncertainty

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Ethereum’s eagerly anticipated spot Exchange-Traded Funds (ETFs) decision by the U.S. Securities and Exchange Commission (SEC) has been dampened by recent developments, reflecting a decrease in confidence as market sentiment, notably on platforms like Polymarket, now indicates approval odds as low as 24%.

Earlier this year, hopes were high within the crypto community regarding the SEC’s potential approval of Ethereum ETFs. However, a shift in mood has become evident in recent months, especially as the decision date of May 23 approaches.

According to observations by Eleanor Terrett, a reporter at Fox Business, there has been a notable change in the SEC’s attitude toward Ethereum ETFs. Insiders suggest that compared to Bitcoin ETFs, ETH products have received less attention from the SEC under Chairman Gary Gensler. This divergence in treatment implies a possible satisfaction with the progress made in Bitcoin ETF approvals, leaving Ethereum ETFs in a state of uncertainty.

Political pressure is also looming over the SEC’s decision-making process. Figures like Senator Elizabeth Warren have expressed dissatisfaction with the approval of Bitcoin ETFs, which might be influencing the regulator’s stance on Ethereum products.

Ethereum ETF Proposals Postponed By SEC

The SEC’s recent decision to postpone its ruling on several Ethereum ETF proposals, including those from financial heavyweights like BlackRock and Fidelity, has further exacerbated uncertainty in the market. Although this delay was anticipated by analysts, it underscores the cautious approach adopted by the SEC, reminiscent of its previous handling of Bitcoin ETFs.

Eric Balchunas, a senior analyst at Bloomberg, has tempered expectations for Ether ETFs, likening them to an opening act following a headliner. This analogy suggests that Ethereum ETFs might not receive the same enthusiastic response from the SEC as Bitcoin ETFs did.

Jake Chervinsky, Variant’s chief legal officer, speculates that the SEC’s cautious approach may be influenced by political resistance and concerns about market volatility. Despite these challenges, the crypto industry remains hopeful, eagerly searching for signs of potential approval in the SEC’s future actions and statements.

As the deadline for the SEC’s decision on ETH ETFs draws nearer, stakeholders in the cryptocurrency market are bracing themselves for further volatility and uncertainty, uncertain of the outcome but hopeful for a favorable resolution.

Dogecoin at $1? Trader Thinks It’s Not Just Memes Anymore

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In the world of cryptocurrency, Dogecoin is once again making headlines as traders and enthusiasts speculate about its potential to hit the elusive $1 mark. Prominent cryptocurrency trader KALEO has sparked optimism by asserting that this milestone is not just a dream but a realistic possibility within the current market cycle.

At its current value of $0.1678, Dogecoin has experienced a recent surge of 8.8%, reigniting discussions about its upward trajectory. The meme-inspired digital currency first gained significant attention in early 2021, buoyed by endorsements from high-profile figures such as Elon Musk. Its price surged as investors, fueled by social media buzz, sought to ride the wave of optimism surrounding the coin.

However, Dogecoin’s ascent faced a setback following Musk’s appearance on “Saturday Night Live,” where he humorously referred to it as a “hustle.” This led to a sharp decline in its value, and DOGE has since struggled to reclaim its peak from 2021. Currently, it remains down 77% from its all-time high, according to CoinGecko data.

Dogecoin’s Market Dynamics

Despite these challenges, recent insights from IntoTheBlock highlight Dogecoin’s correlation with Bitcoin, standing at 0.95. This indicates that its market movements are heavily influenced by broader trends in the cryptocurrency market. Moreover, substantial transactions exceeding $100K have totaled $4.46 billion over the past week, indicating sustained activity within the Dogecoin ecosystem.

Examining exchange data, it’s evident that there are more inflows ($593.32 million) than outflows ($463.24 million), suggesting continued interest from investors. Additionally, a significant portion of Dogecoin addresses—57.62%—are currently “In the Money,” meaning holders are seeing profits, while 34.15% are “Out of the Money,” indicating losses for some investors.

This combination of factors has reignited optimism among Dogecoin supporters, with KALEO’s prediction adding further fuel to the fire. While skeptics may still view DOGE primarily as a meme or speculative asset, its resilience and continued presence in the cryptocurrency market cannot be denied.

As DOGE inches closer to the $1 milestone, all eyes will be on its future trajectory and whether it can defy expectations once again to achieve new heights in the ever-evolving world of digital currency.

Worldcoin (WLD) Shatters $10 Barrier, Surges 38% In 24 Hours

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The Worldcoin token (WLD) has witnessed an astounding surge in market value, skyrocketing over 38% within just 24 hours. This meteoric rise has propelled the value of WLD past the $10 mark, a significant milestone for the cryptocurrency, reflecting a burgeoning investor interest.

Renowned crypto journalist Colin Wu, in his latest analysis on Wu Blockchain X, highlighted this remarkable surge in WLD’s value. Notably, Wu’s insights unveiled another astonishing feat for Worldcoin as its Fully Diluted Valuation (FDV) soared beyond the $100 billion mark. This achievement places Worldcoin in the esteemed fourth position globally, trailing closely behind the dominant USDT by a mere $100 million margin.

The surge in WLD’s value underscores the growing investor confidence and market capitalization within the cryptocurrency space, particularly for WLD. With an ambitious total supply of 10 billion tokens, currently circulating at 148 million, Worldcoin’s market capitalization has surged to an impressive $1.49 billion. These figures signify WLD’s robust performance in a fiercely competitive market and hint at the potential for further growth and adoption.

Worldcoin (WLD) Leads The Surge

Presently, Worldcoin (WLD) is trading at $10.66, witnessing a substantial growth of 44.86% within the last 24 hours and a remarkable 38.02% surge over the past seven days. The trading volume for this cryptocurrency has surged to $1,601,606,267, indicating a staggering 241.33% increase within the past 24 hours alone.

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Worldcoin (WLD) Shatters $10 Barrier, Surges 38% In 24 Hours 2

Colin Wu’s insightful analysis shows the dynamic shifts in the cryptocurrency market. The surge in WLD’s value and its significant FDV ranking paints a promising trajectory for WLD. As the crypto landscape evolves, market observers and investors remain vigilant, eagerly anticipating the next milestones WLD and other leading cryptocurrencies will achieve.

The rapid rise of Worldcoin highlights the growing acceptance and adoption of cryptocurrencies as investors seek alternative investment opportunities amidst global economic uncertainties. With its remarkable surge in value, Worldcoin has firmly established itself as a prominent player in the cryptocurrency market, setting the stage for further innovation and growth in the days to come.