𝑾𝒂𝒛𝒊𝒓𝑿 𝒂𝒏𝒏𝒐𝒖𝒏𝒄𝒆𝒅 𝒂 𝒇𝒂𝒊𝒓 𝒇𝒖𝒏𝒅 𝒓𝒆𝒄𝒐𝒗𝒆𝒓𝒚 𝒑𝒍𝒂𝒏 𝒇𝒐𝒓 𝒖𝒔𝒆𝒓𝒔 𝒂𝒇𝒕𝒆𝒓 𝒕𝒉𝒆 𝒉𝒂𝒄𝒌 𝒐𝒇 $230 𝒎𝒊𝒍𝒍𝒊𝒐𝒏.

#WazirX has opted for a 55/45 approach.

This approach allows users immediate access to 55% of their assets while locking the remaining 45% in USDT equivalent tokens.

The value of the unlocked portfolio will be calculated based on average prices from CoinMarketCap and select global exchanges as of July 21, 2024, at 8:30 pm IST.

The deadline for response is Aug. 3, 2024, at 7:00 am IST.
 
Is this a fair fund recovery strategy? 👇

𝗚𝗿𝗮𝘆𝘀𝗰𝗮𝗹𝗲 𝗶𝘀 𝗱𝘂𝗺𝗽𝗶𝗻𝗴 𝗘𝗧𝗛 🚨 
 
In the past 3 days, Grayscale has sold 319,710 ETH worth $1.03 billion 😱
 
𝐖𝐡𝐲 𝐢𝐬 𝐆𝐫𝐚𝐲𝐬𝐜𝐚𝐥𝐞 𝐃𝐮𝐦𝐩𝐢𝐧𝐠 𝐄𝐓𝐇?
 
▶️ Investors pulling out their money due to a 10x higher fee than other ETF issuers. 
 
▶️ Investors are rotating their money into other L1s, like #Solana. 
 
▶️ One more reason could be staking, as ETH ETFs don't allow it, so investors are pulling their money.
 
This is a similar situation to that of GBTC; the only difference is that the grayscale #ETH ETF outflow magnitude is much bigger.
 
At this pace, #Grayscale will be left with no ETH in 5 weeks.

Breaking 🚨🚨

ETH ETFs hit $1.13 billion in trading volume

Bitcoin ETFs did $4 billion in trading volume on day 1

The only concern is that Grayscale ETH ETF $ETHE is leading the volume chart 😢

𝗜𝘀 𝗮𝗻𝗼𝘁𝗵𝗲𝗿 𝗰𝗿𝗮𝘀𝗵 𝗰𝗼𝗺𝗶𝗻𝗴? 🚨🚨

Mt. Gox moved 37,477 $BTC again today.
 
Since July 5th, #MtGox has transferred 52,549 #BTC    to Bitstamp, Kraken, and Bitbank for repayment.

Something bearish is going on the market right now!

There are high chances we may go lower because of these 3 events👇

1️⃣ US Government selling Bitcoin

The story begins way before yesterday. When Germany sold $2.9 billion in BTC, US started some movements too.

And after 3 weeks of silence, on July 22 at 11:30 IST, US moved 58.742 BTC (almost $4 million) to Coinbase.

That's less than 1% of BTC's 24-hour trading volume, so there was almost no impact.

But why am I telling you this? The reason is that money is from Ryan Farace. In 2018, he was accused of selling Xanax.

The US government got 2,933 BTC from this case (almost $195.5 million).

Why did they sell 58.742 BTC? That's because it's the exact amount from the DOJ pre-release.

And high chances they won't stop only on $4M. They might sell all 2,933 BTC.

2️⃣ Mt. Gox first transfers

Today, at 10:30 IST, Mt. Gox transferred 42,587 BTC ($2.85B) to an unknown address.

That all happened after yesterday's test transaction of 0.021 BTC.

Right after the $2.85 billion transfer, Bitcoin dipped 1.84%.

But it's not the end yet. An hour later, they moved 5.11K BTC. Together, that's 47,697 BTC (almost $3.2B).

The overall repayment is $9 billion. And the sum Mt. Gox moved today is only 35%.

Let's keep an eye on future events since they still hold 90K BTC.

3️⃣ BlockFi refunds

This bankrupt crypto lender soon will distribute money to its clients.

On Wednesday, 17th July, they announced the beginning of them via Coinbase.

The first pay will be this month; there's still no data on the sum.

Future US selling, Mt. Gox and BlockFi refunds can postpone the future bull run.

The only question is, when will it all happen?

WazirX offered a total bounty of $23 million to recover the assets.
 
Do you think it will help #WazirX recover the funds?

🔔 If you haven’t already heard about what's been going on in #crypto this week, $XRP has been dominating all week. Here’s a quick weekend round-up of #XRP this week! Here are some highlights:

🔸 $XRP traded above $0.60 this week
🔸 $XRP expects their legal issues with the SEC to be resolved soon
🔸 $XRP continued to maintain its price for most of the week

Do you think #XRP has what it takes to keep pumping? 🙂

On the social network X, there is speculation about a possible announcement by Donald Trump at the Bitcoin 2024 conference in Nashville

Allegedly, the U.S. presidential candidate may include a proposal to create a national Bitcoin reserve in his campaign.

This event is being compared to the abandonment of the Bretton Woods monetary system in 1971.

The foundation for this could be the confiscated cryptocurrency. According to Arkham, the U.S. government is the leader among other countries in the volume of Bitcoins held — 213,297 BTC worth almost $14 billion, as well as other assets.

Representatives of WazirX reported on their actions following the hack

According to their statement, the Indian company reached out to law enforcement and other exchanges for assistance.

WazirX co-founder Nischal Shetty wrote a separate post announcing the preparation of a rewards program. This initiative aims to help "freeze or recover" the stolen assets.

Hong Kong Introduces New Licensing Regime for Stablecoins

The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have published their findings on creating local legislation related to stablecoins.

On July 17, the two financial institutions implemented an initial legislative proposal to establish a regulatory framework for issuers of fiat-backed stablecoins (FRS) in Hong Kong.

This follows a two-month public consultation period that concluded in February, during which 108 submissions were received from various stakeholders, including market participants, industry associations, and professional organizations.

Most respondents agreed that a regulatory regime is necessary for FRS issuers to manage potential risks to monetary and financial stability and to ensure transparent and effective supervision.

Are you ready for the July 23 launch of nine spot Ethereum ETFs? 🤩

For the first time, shares of publicly-traded Ethereum (ETH) ETFs will be listed alongside the likes of Apple Inc (AAPL) and SPDR S&P 500 ETF Trust (SPY) on some of the United States’ most popular brokerage platforms.

The anticipated listings are a defining moment for cryptocurrency markets and an opportunity for millions of US institutional and retail investors 🚀

David Schwartz, the CTO of Ripple, suggested that envisioning XRP reaching $1,000,000 per coin is actually more "practical" than aiming for a mere $1 per XRP.

🚨BREAKING NEWS:

The canceled SEC meeting from yesterday, July 18, has been postponed to Thursday, July 25!

Will this finally be the end of the #Ripple vs. SEC case? ⚖️

16 Unspoken Rules for MEN.

1. Never shake a hand sitting down.

2. Protect who is behind you, and respect who is beside you.

3. If you are not invited, don't ask to go.

4. Never eat the last piece of something you didn't buy.

5. Dress well no matter what the occasion.

6. Don't take credit for work you didn't do.

7.Always carry cash.

8. Never insult the cooking when you are the guest.

9. Listen, nod, and most of all make eye contact.

10. Take the blame, and give credit when due.

11. Show restraint in expressing anger, no matter what. Being angry is a waste of energy.

12. Whether is dinner, drinks, or both, avoid placing your phone on the dinner table.

13. Alcohol is bad for you.

14. Proper grammar will get you far in life. Leave the foul language for the less educated.

15. Ask more than you answer.

16. You can tell a great deal about a person by their handshake, so make your strong and firm.

Men today are suffering from issues that no one talks about:

• Low self-esteem
• Masturbation
• Obesity
• Porn

Men, pick yourself up

My heart goes out to everyone affected by #WazirX hack 🥺
 
It's really sad to see that our people lost their hard-earned money.
 
But what's even worse is that nobody is taking responsibility for the hack.
 
WazirX is blaming Liminal for this hack.
 
Liminal is blaming WazirX for this hack.
 
Indian crypto users are already suffering a lot because of the regulations, 30% tax, and 1% TDS. 
 
These things are making it very difficult for them to even survive in the crypto world.
 
It's time for the affected entities to come forward together, take responsibility, and focus on getting back the user funds.
 
If it's not taken seriously, this will take the crypto space backwards in India.

𝐓𝐨𝐝𝐚𝐲'𝐬 𝐖𝐚𝐳𝐢𝐫𝐗 𝐡𝐚𝐜𝐤 𝐢𝐬 𝐦𝐮𝐜𝐡 𝐰𝐨𝐫𝐬𝐞 𝐭𝐡𝐚𝐧 𝐲𝐨𝐮 𝐭𝐡𝐢𝐧𝐤. 
 
A few hours ago, it was reported that WazirX had been hacked for $𝟐𝟑𝟎𝐌+ 𝐨𝐫 ₹𝟐𝟎,𝟐𝟒,𝟎𝟎,𝟎𝟎,𝟎𝟎𝟎
 
Given that WazirX is one of the top 🇮🇳Indian exchanges, its hack will have a negative impact on #crypto regulation. 
 
The regulators will now clamp down on the crypto industry even harder, which could make it difficult for Indian traders.
 
𝐵𝑢𝑡 𝑡ℎ𝑒𝑟𝑒 𝑎𝑟𝑒 𝑎 𝑓𝑒𝑤 𝑙𝑒𝑠𝑠𝑜𝑛𝑠 𝑡𝑜𝑜. 
 
1️⃣ No exchange is safe, no matter how big they are, so avoid keeping your long-term funds on exchanges.
 
2️⃣ FIU compliance doesn't guarantee security.
 
3️⃣ Indian exchanges are still way behind foreign exchanges in terms of security, liquidity, and trust.
 
Right now, the withdrawals have been suspended on #WazirX

I'm hoping that the team will come up with a solution to return customers money.

𝐈𝐧𝐝𝐢𝐚𝐧 𝐜𝐫𝐲𝐩𝐭𝐨 𝐞𝐱𝐜𝐡𝐚𝐧𝐠𝐞 𝐖𝐚𝐳𝐢𝐫𝐗 𝐇𝐚𝐜𝐤𝐞𝐝 🚨🚨
 
A total of $230 Million worth of assets have been moved abnormally.
 
Currently, the wallet is dumping assets and has dumped $7.6 million worth of $PEPE

🚨 JUST IN: 🇺🇸 RIPPLE CEO EXPECTS A RESOLUTION IN THE SEC VS RIPPLE CASE “VERY SOON” !!

“We Expect a Resolution Very Soon But Can’t Predict Exactly When The Judge Will Rule There.” — @bgarlinghouse

Will The SEC Vs Ripple $XRP Case Finally End This Summer ?? 🤔💭

Comment Below & Follow For More!!👇👇

⚠️What is Cryptocurrency Liquidity and How Does It Affect Market Stability?

Liquidity - is a simple concept: it measures the speed at which traded assets turn into cash.

⁉️ Suppose, there is a single market for asset X and ten different investors. Investor A wants to fully cash out his investment in asset X.
A market is highly liquid if it does so almost instantaneously and without significant price compromise.

Conversely, let's imagine that Investor A puts his assets up for bid and no one responds for a significant amount of time.
Investor A is forced to either wait for some time to cash out the asset or sacrifice a preferred price quote.

📉This situation signals low liquidity in that particular market.
Naturally, investor A is less likely to enter into a transaction under such conditions as he may be price sensitive and risk averse.

Thus, the liquidity metric assesses how easy it is to transact in a market.

🎮Ease depends on the number of market participants, the demand for specific assets and the overall supply of money.
In addition, liquidity is affected by many other factors, including significant regulatory changes, economic downturns, political shifts and conflicts.

𝑨𝒓𝒆 𝒚𝒐𝒖 𝒔𝒕𝒊𝒍𝒍 𝒃𝒆𝒂𝒓𝒊𝒔𝒉 𝒐𝒏 𝒄𝒓𝒚𝒑𝒕𝒐? 😱
 
💥 #Bitcoin    ETFs are getting huge inflows; it got $1.95 billion worth of inflow in the last 8 days. 
 
💥 #Ethereum ETF trading will start next week.
 
💥 The US presidential election is happening this year, and usually it is a bullish time for #BTC   
 
💥 #FTX is going to repay $16 billion to creditors.
 
💥 The market is expecting a 100% chance of a rate cut in September.

**Whales Push XRP Price Higher**

Recently, XRP has seen a significant price surge, largely driven by activity from cryptocurrency whales. These large investors have been accumulating substantial amounts of XRP, leading to increased demand and a subsequent rise in price. This accumulation often signals confidence in the asset's future performance, attracting more retail investors and further boosting the price. Market analysts suggest that this whale activity could be linked to optimistic sentiment surrounding ongoing legal battles and potential positive outcomes for XRP. As a result, XRP's market momentum continues to build, capturing the attention of the broader crypto community.