SEC Targets Robinhood, Billion-Dollar Satoshi Transactions, Tesla Adopts Dogecoin

M6 Labs Alpha Bytes🚨: 6th May

GM Anon! ☕

In today’s Alpha Bytes 👇

Robinhood Under the SEC's Lens Again: Robinhood faces renewed SEC scrutiny with a Wells Notice following the collapse of FTX in 2022. The recent delisting of tokens like MATIC, SOL, ADA, FIL, and SAND, amid legal actions against major exchanges, adds to regulatory challenges. Despite offering 15 cryptocurrencies, including BTC and ETH, Robinhood's future operations face uncertainty in the evolving regulatory landscape.

Satoshi-Era Wallet Springs to Life: In an intriguing development, a wallet from the Satoshi era has just moved funds, marking over $1 billion in transactions. This rare activity has stirred excitement and speculation across the Bitcoin community.

New Payment Avenues for Dogecoin: Tesla has further embraced cryptocurrency by adding Dogecoin as a payment method on their website. This move by Tesla reinforces the growing acceptance of crypto in mainstream commerce.

BTC $63,678 (+0.7%), ETH $3,094(-0.54%), SOL $154.25 (+4.8%)

Crypto News 📰

  • Robinhood received a Wells Notice from the U.S. Securities and Exchange Commission on May 4, as well as recommendations from SEC staff to file a lawsuit against Robinhood, alleging potential violations of the Securities Exchange Act.

  • Bitcoin network celebrates $1 billion transactions as Satoshi-era wallet awakens

  • Tesla adds Dogecoin payments on their website 

  • BTC-e founder pleads guilty to $9 billion money laundering conspiracy

  • From 25 years to 4 months: Inside the final verdict on a crypto billionaire CEO rivalry 

  • Cryptocurrency is creating a new wealth effect 

  • Bitcoin will propel the next leg up if key trading patterns confirms 

  • SEC’s Gary Gensler turns tide against crypto in courts 

  • Understanding peer-to-peer crypto trading benefits and risks 

  • Crypto excluded from new South Korean donation law 

  • Australian court rules against BPS Financial for unlicensed crypto operations 

  • Bitcoin trader loses nearly $70 million after sending crypto to wrong online account address in new address poisoning scam 

  • looks to sports as it tries to capture non-crypto audience

  • Render (RNDR) reaches $10, buy signal emerges 

  • Crypto companies raise $2.5 billion in first quarter, a 29% increase 

  • ED seizes 130 crore worth of cryptocurrency in drug trafficking, money laundering probe 

  • Crypto firms engage in aggressive fundraising to boost valuations 

  • Tens of billions in stablecoin transactions inorganic, says Visa

  • Why MoonPay and PayPal partnered to expand the adoption of crypto in the US

  • Vodafone’s PairPoint trying to turn mobile device sim cards into crypto wallets 

  • Why Ethereum killer Avalanche’s price will explode during upcoming bull run 

  • Grayscale Bitcoin ETF records first inflow after losses 

  • Jack Dorsey abandons Bluesky, leaves board of directors 

  • Osmosis co-founder Sunny Aggarwal on costumes, Cosmos, and the Bitcoin renaissance 

  • Ripple to launch USD-backed stablecoin in June? CTO David Schwarz drops hint 

  • Polkadot and Cosmos make gains in rocky week for crypto 

  • Dogwifhat, Floki, Doge soar as crypto market cap spikes 

  • Tron’s Justin Sun dominates liquid restaking protocol with 46% of deposits 

  • Ethereum stablecoin volume shatters its monthly record in April, all thanks to DAI

  • Jack Dorsey initiative pours $21 million into Openstats 

  • Shiba Inu sees red again after surge, PayPal partnership 

  • Bitcoin back to extreme greed? 

  • More than half of the Fortune 100 uses Apple’s Vision Pro headset 

  • Warren Buffet compares AI to nukes after seeing deepfake doppelganger 

  • FTX addresses transferred $8.3 million a day before amended proposal deadline 

  • Bitcoin Runes reclaim dominance over BTC transactions 

  • Is China warming up to Bitcoin ETFs? BTC investor’s reply sparks curiosity 

  • Bitcoin privacy will survive despite CoinJoin closure 

  • BTC mining revenue hits post-halving yearly low

  • Bad actors and block storms: Bitcoin dev calls for testnet reboot 

  • Cardano founder proposes Bitcoin Cash integration in testnet pol

  • Uniswap CEO weighs in on ethical token distribution 

  • Coinbase faces new lawsuit over alleged investor deception

  • Sui Network addresses claims regarding its token supply 

  • Bitfinex database breach seems fake, says CTO 

  • Web3 marketing platform creates solution to Elon Musk’s engagement farming argument 

  • LayerZero tackles sybil activity with self-reporting mechanism 

  • Former Cred execs face wire fraud and money laundering charges 

  • SEC delays decision on 7RCC’s eco-friendly spot Bitcoin ETF

  • Worldcoin emerges as top gainer, trading volume skyrockets 

  • Heir to Cartier empire arrested for attempted money laundering using USDT 

  • Ethena (ENA) surges 13.5% as researcher forecasts 100% growth during altcoin season 

  • Battle for spot Ethereum ETFs turns messy in the US 

  • Will Mt. Gox payouts spark a Bitcoin price crash?

  • Philippines to introduce crypto regulations in 2024, says SEC Chair 

  • Crypto hacks on Coinbases’ Base chain grew by 145% in April

  • QUBIC price sees 21% jump after analyst predicts 1000x gains 

  • Solv Protocol attracts 12,000 BTC investment, integrates Babylon partnership 

  • registers 100 million users worldwide despite freeze on VC activity 

  • Ethereum, altcoins are unregistered crypto securities: Michael Saylor

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