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Vitalik Buterin Sparks Enthusiasm Among Shiba Inu Community with Surprising SHIB Endorsement

In an engaging post on the X/Twitter platform, Ethereum cofounder Vitalik Buterin brought the Shiba Inu (SHIB) meme cryptocurrency into the spotlight, stirring a flurry of reactions from the SHIB community and various crypto influencers.

The enigmatic SHIB lead, Shytoshi Kusama, joined the conversation by responding to Buterin’s tweet with enthusiasm.

The dialogue was sparked by Buterin’s reflection on a significant moment involving the Shiba Inu cryptocurrency.

He reminisced about when he received a massive amount of SHIB—500 billion coins, precisely half of the meme coin’s total supply—from the project’s anonymous founder, Ryoshi, in 2021.

Buterin revealed his decision to donate a substantial portion of this SHIB to charity, motivated by his expectation that the coin’s value would plummet dramatically.

He aimed to ensure the charities could benefit from the donation, hoping they could cash out between $10 million and $25 million.

However, SHIB’s performance exceeded his expectations, a development that was warmly received by the SHIB community.

“But of course SHIB massively outperformed my expectations,” he admitted, eliciting a wave of excitement and a bullish hashtag from Kusama in response.

Further stirring the crypto market, a report by the cryptocurrency tracking bot Whale Alert noted a significant withdrawal of SHIB from the KuCoin exchange.

A massive two trillion Shiba Inu coins, valued at approximately $62,232,000, were moved off the platform.

This event was part of a larger trend that saw KuCoin losing around $500 million worth of cryptocurrencies in 24 hours, as covered by U.Today.

The withdrawals began en masse following news that KuCoin and its founders faced criminal charges from the U.S. Department of Justice.

The accusations against them included operating a platform that facilitated illicit money laundering and violating the Bank Secrecy Act.

This case against KuCoin paralleled a similar accusation made against former Binance CEO, CZ.

The charges stemmed from activities between 2020 and 2022, during which the platform also received significant funds from the sanctioned entity Tornado Cash without reporting suspicious transactions.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Munchables Developer Returns $62.8 Million in Stolen Ether, Resolving Hack Without Ransom

Blockchain News/Crypto News Today/DeFi

In a remarkable turn of events, the Munchables game, an Ethereum-based NFT venture, witnessed the return of $62.8 million in Ether, previously stolen in a security breach, without the demand for a ransom.

This unexpected resolution unfolded over nearly eight hours when a Munchables developer, initially responsible for the exploit, decided to return the pilfered funds.

The breach was reported on March 26, around 9:30 pm UTC, resulting in a loss of over 17,400 ETH from the GameFi application.

Following the incident, Munchables collaborated with blockchain security experts, including PeckShield and ZachXBT, to trace the stolen assets in hopes of recovery.

The investigation revealed that the breach was linked to a developer with North Korean ties, known by the alias “Werewolves0943.”

This individual was hired by the Munchables team, leading to the vulnerability.

By March 27, at 4:40 am UTC, Munchables identified the culprit as one of its developers, and after an hour of negotiations, the individual agreed to return the stolen Ether.

Munchables confirmed in a statement, “The Munchables developer has shared all private keys involved to assist in recovering the user funds.

“Specifically, the key which holds $62,535,441.24 USD, the key which holds 73 WETH, and the owner key which contains the rest of the funds.”

Pacman, the creator of the Ethereum layer-2 blockchain Blast, on which Munchables operates, expressed gratitude towards ZachXBT for aiding in the resolution.

He announced that the ex-developer chose to return the entirety of the funds without a ransom.

Pacman’s involvement is crucial for redistributing the now-retrieved assets to the rightful owners.

Meanwhile, Munchables advises affected users to heed only official communications to avoid potential refund scams.

This incident follows a separate exploit where a hacker extracted around $24,000 from four DeFi aggregator ParaSwap addresses.

ParaSwap, with the help of white hat hackers, managed to reclaim the stolen funds, beginning the process of refunding users.

The protocol has since taken measures to secure its system, particularly addressing vulnerabilities in the AugustusV6 smart contract.

Despite these efforts, 213 out of 386 impacted addresses had not revoked permissions for the compromised contract as of March 25, indicating ongoing risks in the DeFi space.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

South Korean Crypto Magnate Do Kwon Released in Montenegro Amid Extradition Battle

Blockchain News/Crypto News Today/DeFi

Do Kwon, the co-founder of Terraform Labs embroiled in allegations of fraud, has been released from Montenegrin custody.

His freedom comes as the Supreme Court weighs the merits of extradition requests from both the United States and South Korea.

Bloomberg reported his release on March 23, following a suspension by the Supreme Court of a lower court’s decision to extradite Kwon to South Korea.

This legal drama unfolds against the backdrop of the Terra collapse in 2022, which erased about $60 billion from the crypto market. Kwon, facing fraud charges in both South Korea and the U.S., was released from prison as his sentence for possessing forged documents concluded.

Darko Vukcevic, a prison official, stated, “We released Do Kwon from prison as his regular prison term for traveling with fake papers ended.

Since he is a foreign citizen and his documents were withheld, he was taken for an interview to the police directorate for foreigners, and they will deal with him further.”

The Supreme Court’s Council is now poised to decide on Kwon’s potential extradition to South Korea, where he faces less severe penalties compared to the U.S.

In the latter, he could be charged with eight felonies related to TerraUSD’s dramatic $40-billion implosion in 2022.

Kwon’s legal representative confirmed his client’s release and mentioned that his passport had been confiscated to prevent him from leaving Montenegro.

Subsequently, Kwon was moved to a facility for foreigners, with his lawyer signaling intentions to seek legal permission for Kwon to stay free pending extradition decision.

This legal tangle was further complicated by the chief prosecutor’s intervention, pointing out procedural flaws in the extradition process favoring South Korea.

As courts deliberate without a clear timetable, Kwon’s fate hangs in the balance, with significant charges awaiting him in the U.S. following his arrest in March 2023 for using counterfeit travel documents.

The extradition saga continues, reflecting the international legal complexities surrounding high-profile crypto fugitives like Kwon.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Grayscale Launches Dynamic Income Fund for High-Net-Worth Clients to Capitalize on Crypto Staking Rewards

Blockchain News/Crypto News Today/DeFi

Grayscale Investments has introduced a new investment fund designed for affluent clients seeking to diversify their portfolios with income derived from staking cryptocurrency tokens.

Named the Grayscale Dynamic Income Fund, it targets individuals with assets exceeding $1.1 million or a net worth above $2.2 million.

The fund’s strategy involves converting staking rewards into U.S. dollars on a weekly basis, with plans to distribute these earnings to investors quarterly.

Grayscale emphasizes the thorough vetting process for selecting proof-of-stake (PoS) tokens to include in the fund, aiming to manage the intricacies of staking and unstaking various tokens, each with unique requirements.

The firm prioritizes maximizing staking income, viewing capital growth as a secondary goal.

Staking, a process that contributes to the security and efficiency of blockchain networks, involves holding cryptocurrency tokens to earn rewards.

Grayscale has disclosed that its fund will comprise three specific PoS tokens: Osmosis (OSMO), Solana (SOL), and Polkadot (DOT), with respective shares of 24%, 20%, and 14%.

The remaining 43% of the fund is allocated to other tokens.

According to Staking Rewards data, the staking reward rates for OSMO, SOL, and DOT are 11.09%, 7.42%, and 11.9%, respectively, with only SOL ranking in the top 10 PoS tokens by market capitalization on CoinMarketCap.

In related news, Grayscale’s venture into a spot Bitcoin exchange-traded fund (ETF) on January 11 has faced challenges, with over $14 billion in outflows since its inception, as reported by Cointelegraph on March 26.

The Bitcoin ETF, which incurs a 1.5% management fee annually—significantly higher than the 0.30% average of other Bitcoin ETFs—has not met the firm’s expectations.

Additionally, Grayscale’s application for an Ethereum Futures ETF has been met with delays by the United States Securities and Exchange Commission, further complicating the company’s ambitious cryptocurrency investment endeavors.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

BNB’s Rally Narrows Gap with Ether Amid Mixed Market Signals and ETF Outflows

Blockchain News/Crypto News Today/DeFi

In the week leading up to March 29, BNB’s value saw a 12% increase, reaching a high of $620, marking a notable upturn and closing the valuation gap with its rival, Ether, which saw a 5% rise in the same period.

Despite this growth, the BNB Chain’s on-chain data sends mixed signals, indicating that the rally might be overextended.

This recent surge in cryptocurrency value has been linked to inflows into spot Bitcoin BTC exchange-traded funds (ETFs).

However, a setback was observed in the week ending March 23, with a net outflow of $890 million from these ETFs, marking their first net outflow since their introduction in January.

Yet, there was a silver lining with a significant decrease in outflows from the Grayscale GBTC fund, which only saw $104 million leave on March 28.

BNB’s momentum in the first half of March, with a 61.7% increase, was dampened after peaking at $645.

This peak brought BNB’s market capitalization to $96.4 billion, down from its all-time high of $116 billion in November 2021.

The total value locked (TVL) in BNB Chain also saw a decline, from $15.7 billion at its peak to $7.1 billion, a 55% reduction.

The crypto market, especially decentralized finance (DeFi), has seen significant contractions since late 2021.

This downturn isn’t unique to BNB Chain, as the total market data for blockchains tracked by DefiLlama decreased by 25%, from nearly $205 billion to $155 billion.

Despite these challenges, BNB Chain remains a key player in the crypto market, rivaling Ethereum’s layer-2 networks in activity levels.

Nearly 2 million active addresses engaged with DApps on BNB Chain in the past week.

The blockchain also stood out for its trading volume, which, unlike Solana and Ethereum, saw an 11% increase, reaching $12.4 billion.

Looking ahead, the future of the cryptocurrency sector is difficult to predict, but derivative metrics like the demand for leverage in BNB perpetual futures contracts offer insights.

The steady 8-hour funding rate of around 0.03%, equivalent to about 0.6% weekly, suggests a cautiously optimistic market sentiment, despite the price challenges at the $620 level.

This careful optimism is bolstered by the enduring interest in leveraged long positions, despite the uncertain market trajectory.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Bitcoin Withdrawals Soar as US Spot ETFs Spark Historic Supply Squeeze

Bitcoin/Blockchain News/Crypto News Today

Since the launch of the United States spot exchange-traded funds (ETFs) for Bitcoin, the cryptocurrency market has seen a significant shift in Bitcoin holdings on exchanges.

Over $9.5 billion in Bitcoin has been withdrawn from exchanges, as reported by Glassnode, an on-chain analytics firm.

This withdrawal trend started on January 11 and has led to a reduction of over 136,000 BTC from exchange balances.

The dynamics of Bitcoin supply are increasingly favoring bulls with continued mass withdrawals observed this quarter.

The volume of Bitcoin on exchanges has dipped to its lowest since April 2018, with only 2,320,458 BTC remaining, indicating a substantial decline in available BTC for trading.

This trend continued with one of the largest single-day withdrawals occurring on March 27, where over 22,000 BTC, equivalent to $1.54 billion, were withdrawn.

The impact of U.S. spot Bitcoin ETFs, though they have been operational for just under three months, is becoming a pivotal factor in the market.

Additionally, notable market activities include a significant transfer of the stablecoin USD Coin (USDC) to Coinbase, highlighted by J.A. Maartunn from CryptoQuant.

This record transfer raised speculations about potential buying pressure in the market. Such movements underscore the evolving dynamics in the cryptocurrency market, particularly in the context of Bitcoin supply and demand.

Experts are closely watching the ETFs’ impact on Bitcoin’s supply, anticipating a possible “squeeze” where demand surpasses the available supply, potentially affecting prices.

This scenario is expected to intensify, especially with the upcoming block subsidy halving event in mid-April, which will further reduce the rate of new BTC entering the market to just 3.125 BTC per block.

Charles Edwards, founder of Capriole Investments, commented on the significance of the upcoming halving event, noting it as “the biggest Halving in Bitcoin’s history.”

He pointed out that Bitcoin would become even more scarce than gold, with the supply growth rate halving.

Edwards anticipates increased institutional demand through ETFs, a supply squeeze from the Halving, and Bitcoin’s new status as the world’s hardest asset, making April a month to watch for the cryptocurrency sector.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Bitcoin Poised to Hit $170,574 Within 12 Months

Bitcoin/Blockchain News/Crypto News Today

Bitcoin has experienced unprecedented success in 2024, setting a new record high of $73,679 on March 13, maintaining its value around $70,000 since then.

This surge represents an impressive growth of over 140% compared to the previous year.

During its peak this year, Bitcoin momentarily eclipsed silver, becoming the eighth most valuable commodity worldwide by market capitalization.

Looking ahead, projecting similar growth rates into the future suggests that by April 2025, Bitcoin could potentially hit $170,574.

This forecast not only positions it above silver but also surpasses major corporations like Amazon, Alphabet (Google), Saudi Aramco, Nvidia, and Microsoft in CompaniesMarketcap’s rankings of top commodities by capitalization.

This speculative growth assumes a static market environment, using current market caps as a baseline for comparison.

Currently, Bitcoin’s market cap closely trails that of silver, which stands at $1.412 trillion.

To edge past silver again, Bitcoin would need to increase its value to $71,732, reaching a market cap of around $1.413 trillion.

Moreover, Bitcoin is poised to leapfrog other major entities.

For instance, surpassing Google’s $1.885 trillion market cap requires Bitcoin to reach approximately $95,642.

To dethrone Microsoft from the second spot, Bitcoin would need to surpass a market cap of $3.126 trillion, achievable at a price of roughly $165,608 per BTC.

These projections are grounded in Bitcoin’s recent yearly growth of about 144.82%.

If this trend continues, Bitcoin could see its price soar to $170,574 by next year, boosting its market cap to approximately $3.224 trillion, thereby overtaking Microsoft.

Ultimately, for Bitcoin to claim the top position and surpass gold’s market cap of $15.141 trillion, its value would need to skyrocket to $800,476 per BTC, achieving a market cap of $15.15 trillion.

This scenario underscores Bitcoin’s potential trajectory as the leading commodity by capitalization, highlighting the cryptocurrency’s remarkable growth and its increasingly significant role in the global financial landscape.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Indonesian Graduate Turns Memecoin Craze into $1.8 Million Venture with Hybrid NFT Project

Blockchain News/Crypto News Today/Metaverse

In an astonishing venture into the digital asset world, Sultan Gustaf Al Ghozali, an Indonesian college student, has once again captured the attention of the cryptocurrency community by securing $1.8 million from a memecoin presale.

This achievement follows his initial success in 2022 when he earned a million dollars by selling non-fungible tokens (NFTs) of his daily selfies over five years, a project dubbed “Ghozali Everyday.”

Ghozali, who had recently graduated, humorously remarked on X that his fortune came from the “stupidest idea” he ever had, signaling his exit from the selfie NFT scene.

However, with the resurgence of interest in memecoins, Ghozali reentered the spotlight by announcing a novel project on March 24 that combines memecoins with NFTs, hosted on the Base blockchain.

This venture quickly exceeded its funding goal, amassing 527 ETH (approximately $1.8 million), though Ghozali promised refunds to contributors who exceeded the presale’s 400 ETH cap.

The broader crypto market has shown a renewed fascination with memecoins, particularly among Solana traders, leading to a staggering $100 million raised in just three days for various presale projects from March 15 to 18.

The Solana memecoin boom has been met with both excitement and skepticism, the latter due to the lack of assurances for investors in these high-risk ventures.

Meanwhile, the Base blockchain, backed by crypto exchange Coinbase, has seen its total value locked double, suggesting a growing interest in it as a potential hub for memecoin activity following Solana’s lead.

On March 23, Base reported a TVL of $2.13 billion, hinting at the possible shift of memecoin enthusiasm to its platform.

Despite the speculative nature of memecoins, highlighted by asset manager Franklin Templeton’s cautionary note on their lack of “inherent value or utility,” the trend continues.

The asset manager conceded that these meme-based tokens could nonetheless yield swift returns for investors, encapsulating the volatile but potentially lucrative allure of cryptocurrency investments.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Hong Kong’s SFC Issues Warning on Fraudulent Crypto Platform HKCEXP, Encourages Investor Vigilance

Blockchain News/Crypto News Today

The Securities and Futures Commission of Hong Kong (SFC) has issued a warning about a dubious trading platform known as HKCEXP.

This platform has been misleading investors by claiming affiliation with the regulatory body, despite not being registered with the SFC.

The alert comes in the wake of the SFC’s announcement that cryptocurrency exchanges operating in Hong Kong had until February 29 to file for a mandatory operational license or cease operations by May 31.

In response to this directive, the SFC received applications from 22 crypto trading platforms, which included four that had previously applied under a voluntary regime.

However, the challenge of counterfeit entities posing as credible exchanges persists in Hong Kong, with HKCEXP being the latest to deceive investors by falsely proclaiming itself as an “SFC-registered business.”

Further accusations against HKCEXP include providing a fraudulent address in Hong Kong and imposing hefty withdrawal fees, as reported by one of the victims to the SFC.

To combat these fraudulent activities and enhance investor safety, the SFC plans to keep and publicly share a list of crypto platforms awarded operational licenses.

Exchanges that missed the application deadline are now restricted in their operational capabilities and are prohibited from conducting marketing activities within the region.

The issue of impersonation extends beyond HKCEXP.

The SFC recently uncovered several fake websites mimicking prominent local cryptocurrency exchanges.

These counterfeit sites aimed to deceive investors by emulating the domains of OSL Digital Securities and Hash Blockchain Limited (also known as HashKey), two of the licensed exchanges in Hong Kong.

To protect investors and uphold the integrity of the crypto trading environment, the SFC encourages the public to consult its official register.

This includes a list of licensed persons and registered institutions, along with a specific directory for licensed virtual asset trading platforms.

By doing so, investors can access accurate information on licensed entities and their official websites, ensuring they engage with legitimate platforms.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Crypto PR Agency – Imperium Comms

Reviews

Crypto PR agency Imperium Comms offers media coverage on a results-driven, guaranteed basis.

Public Relations (PR) in the crypto space is an intricate dance of strategy, credibility, and innovation. As the blockchain and cryptocurrency sectors burgeon, standing out amidst a sea of competitors while fostering trust and understanding among a diverse audience becomes paramount. This unique landscape demands a PR approach that not only navigates the complexities of these technologies but also taps into the pulse of an ever-evolving digital community.

The essence of PR in the crypto space revolves around building and maintaining a positive reputation, managing communication during crises, and effectively promoting innovations and developments to the right audience. Given the nascent and volatile nature of cryptocurrencies, coupled with the skepticism of the general public and regulatory bodies, the role of PR is both critical and challenging.

One of the foremost challenges in crypto PR is the need to demystify blockchain technology and cryptocurrencies for a broad audience. The concepts underlying these innovations can be complex and intimidating to the uninitiated. Effective PR strategies must therefore not only highlight the technological advancements and potential of a project but also make this information accessible and compelling to both seasoned crypto enthusiasts and newcomers alike.

Transparency and trustworthiness are the bedrock of successful PR in the crypto domain. Given the history of scams, hacks, and failed projects that have plagued the industry, establishing credibility is non-negotiable. This involves clear, consistent, and honest communication about a project’s goals, progress, and challenges. PR professionals must craft narratives that resonate with their audience’s values and aspirations, showcasing not just the potential for financial gain but also the project’s contribution to technological innovation and societal progress.

Engagement with the community is another cornerstone of crypto PR. The decentralized ethos of the blockchain community values participation, open dialogue, and collaboration. PR strategies must leverage social media, forums, and other platforms to foster a sense of community and belonging. Engaging content, regular updates, and active participation in discussions can build a loyal following and turn community members into brand advocates.

Crisis management takes on a heightened importance in the crypto space, where the impact of negative news can be amplified by the speed and reach of digital communication. Effective PR teams must be adept at anticipating potential issues, responding swiftly to crises, and regaining public trust. This could involve addressing security breaches, regulatory setbacks, or market volatility. The ability to navigate these crises transparently and confidently can set a project apart and demonstrate resilience and reliability.

Media relations also play a pivotal role in crypto PR. The industry’s dynamic nature, with its rapid developments and frequent regulatory changes, makes it a subject of media interest. Securing positive media coverage in leading crypto publications, as well as mainstream media, can significantly enhance a project’s visibility and credibility. PR professionals must cultivate relationships with journalists and influencers, pitch compelling stories, and position their projects as leaders in the space.

Moreover, the global nature of the cryptocurrency market demands an international PR strategy. Understanding and respecting cultural differences, regulatory environments, and market preferences across different regions is essential. Tailored messaging and campaigns that resonate with local audiences can drive global adoption and support.

Finally, education and thought leadership are invaluable in establishing authority and trust in the crypto space. By sharing insights, analysis, and predictions, projects can position themselves as thought leaders and go-to sources for reliable information. This not only enriches the community but also fosters a more informed and rational discourse around cryptocurrencies and blockchain technology.

Crypto PR and Marketing Agency – Imperium Comms

Imperium Comms has been ranked as the best crypto PR agency, due to their affordable rates, pricing structure, and extensive list of sites that they offer, which include CoinDesk and the Wall Street Journal.