Global Crypto Crisis: Russia's Ban, U.S. Crackdown, and Market Turmoil

M6 Labs Alpha Bytes🚨: 29th April

GM Anon ☕🐺

In today’s Alpha Bytes,

Geopolitical Tensions Escalate: Russia prepares for a total crypto ban amid rising geopolitical pressures, marking a pivotal shift in global finance.

U.S. Regulatory Crackdown: Phoenix and Wasabi, key self-custody wallet providers, exit the U.S. market in response to intensified regulatory scrutiny.

Crypto Market Turbulence: Bitcoin and Ether face significant losses as fears of U.S. stagflation underscore the volatility of digital assets in economic uncertainties.

BTC $62,713(0.1%), ETH $3173 (0.4%), SOL $136.64 (+0.3%)

Crypto News 📰

  • Russia prepares for total crypto ban as geopolitical tensions rise

  • Phoenix and Wasabi exit US market amid self custody wallet crackdown 

  • Bitcoin, Ether nurse losses as US stagflation fears grip markets.  

  • South Korea announces crackdown on crypto crimes with an investigative unit. 

  • Crypto trader sees best ‘altseason’ as bitcoin price cools 

  • Elon Musk teases crypto payments bombshell that could blow up price of Bitcoin 

  • FBI warns against using unregistered cryptocurrency money transferring services 

  • Binance founder faces possible three year jail sentence over wild west business model 

  • Google Cloud’s Web3 portal launch sparks debate in the crypto industry 

  • Ethereum gas fees hit a six-month low indicating a potential altcoin surge 

  • Thai regulator cracks down on deceptive crypto ads 

  • Justin Sun predicts SEC will reject spot Ethereum ETF in May, cites need for crypto education

  • As Bitcoin outpaces fiat, what next for global finance?

  • South Africa election will not interfere with crypto policy 

  • Telegram is becoming a crypto-powered narcotics department store for South Koreans 

  • Japan-based Akita dog society adopts blockchain to combat forgery 

  • Open-AI hit with privacy complaint in Austria, potential EU law breach 

  • Woman accused of $6 billion scam, China loophole for Hong Kong Bicoin ETFs

  • Department of Justice’s Tornado Cash arguments show an obvious disdain for privacy: Lawyer 

  • responds to GPU metadata attack

  • No plan for total crypto ban yet, Russian lawmaker

  • Solo Bitcoin miner wins the 3.125 BTC lottery, solving valid block

  • Apple reportedly courting OpenAI to develop AI features for iPhone

  • Sam Altman’s OpenAI reportedly in talks with his other venture, Worldcoin

  • Filipinos face higher fees after Binance ban

  • The rise of DePins 

  • DeFi for all: This protocol addresses liquidity fragmentation and complex interfaces 

  • Lido Finance hits 1 million validators, fueling the growth of DeFi 

  • Dubai does for crypto what Silicon Valley did for tech 

  • Mango Markets’ Eisenberg charged with possession of child porn 

  • Australia’s top exchange may approve spot Bitcoin ETFs later this year 

  • DOJ challenges motion to dismiss Tornado Cash co-founder’s charges 

  • Google suspends Trust Wallet from Google Play marketplace 

  • OKX Jumpstart unveils BTX staking option for mining Runecoin 

  • Pakistan mulls CBDC for women amid concerns of financial abuse 

  • Regulating centralized exchanges won’t stop bad actors 

  • Land registries should shift to blockchain technology 

  • US asset managers increasing BTC portfolio allocation 

  • Binance rival Fezoo exchange gaining momentum 

  • Beribit in turmoil as Russian officials contemplate crypto exchange ban 

  • Custodia bank claps back against court ruling, wants Fed master account 

  • Stripe to start supporting stablecoin payments 

  • SEC serves Consensys with Wells Notice 

  • ConsenSys files lawsuit against Securities and Exchange Commission 

  • Franklin Templeton enables peer-to-peer transfers of their tokenized shares 

  • ETFs containing crypto to have zero collateral for loans, according to DTCC 

  • Republic First bank officially collapses 

  • Franklin Ethereum tr Ethereum ETF added to DTCC website 

  • CBOE ending support for spot crypto trading 

Project Updates 🔥👷🏼‍♂️

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