crypto news insider trading, Blackrock takeover

 crypto news insider trading, Blackrock takeover

big bucks for crypto stuff fabric ventures Pantera capital terra's luna foundation guard arva labs and ignite collectively announce billions of dollars in funding where will all this money go Blackrock on the block wall street's most controversial asset manager takes a  major stake in cryptocurrency's leading stablecoin issuer what could possibly go wrong twitter takeover attempt Tesla CEO Elon musk's attempted twitter takeover ends in a poison pill.

 but the doge father hints at an ace up his sleeve when will Elon make his next move regarding insider trading accusations moments after coinbase announces clarity around its upcoming crypto listings crypto twitter discovers some suspicious wallets here's why this is a big deal apy for me but not for the celsius restricts retail investors in the united states from using its popular stablecoin savings feature everything you need to know   Ethereum expectations developers announced that the merge will be delayed by a few months how could this affect Ethereum and its competitors and a closer look at last week's top-performing cryptos and where they're headed next all this and more in just a moment.

 we saw billions of dollars of mostly institutional money pours into the crypto industry behind the scenes first there are crypto VC firm fabric ventures which are on the cusp of raising nearly 250 million dollars for two web3-focused funds since fabric ventures' former investments include the likes of Polkadot maker dow bitstamp and decentral and this capital may find its way into similar niches namely smart contract cryptocurrencies d5 centralized exchanges and metaverse projects next there's crypto VC firm Pantera capital which is likewise on the cusp of completing a raise of its own.

 it looks like its cash pile will be a whopping 1.3 billion dollars more than double its target Pantera partners specified that they'll be using this capital to invest in both new and existing crypto projects and their previous investment suggests they'll focus on crypto infrastructure projects such as decentralized storage as well as crypto payment focused projects  Pantera's portfolio happens to include terra whose lunar foundation guard recently received over 880 million dollars in luna from terraforming labs.

  as many of you will know the LFG has been buying up BTC by the bucket load to create a stability reserve for terra's just stable coin and its Ethereum wallet balance suggests it's running low on stable coins as such it's possible if not likely that the luna the LFG just received will be sold over the counter to crypto VCs to buy even more BTC and potentially more avacs as well as many of you will know ajax is the native cryptocurrency of the avalanche blockchain and according to Bloomberg the company behind avalanche is about to complete a 350 million dollar raise although it's not yet known what other labs will spend this money on I suspect it will use it to attract more developers as that seems to be the primary area of focus for cryptocurrencies.

 these days cosmos is another cryptocurrency that's aiming to attract developers and the recently branded company behind cosmos revolutionary tender mint consensus mechanism explicitly stated that it will be using the 150 million dollars it just raised for this purpose the company is now called ignite is specifically planning on supporting 20 crypto projects per year and apparently it's willing to sponsor crypto projects that aren't a  part of cosmos's ecosystem this might have something to do with cosmos' commitment to creating a truly multi-chain future and you can find out about that using the link in the description anyways another crypto company that reported an impressive rise was used issuer circle which bagged 400 million dollars from some of the largest asset managers in the world.

  now the first asset manager on the list was Blackrock meaning it was the circle's largest investor in this funding round for those who don't know BlackRock is the largest asset manager in the world with over 10 trillion dollars in assets under management  Blackrock became a household name last summer when it was discovered that it was buying single-family homes in the united states at up to 50 percent above asking price basically making it impossible for the average person to buy a house in the areas where BlackRock was buying Blackrock has also made its mark in crypto through ESG which I explained in another video the short of it is that Blackrock is using its influence to get publicly traded companies.

 even other asset managers act by unsurprisingly subjective criteria BlackRock has now made the crypto headlines again but this time in the context of the music issuer circle for starters it was revealed that BlackRock is the quote primary asset manager of the reserves that back the music stablecoin not only that but circle stated in its press release that quote BlackRock has entered into a broader strategic partnership with a circle which includes exploring capital market applications for music as you can imagine this resulted in some mixed reactions from the crypto community, on the one hand, BlackRock's partnership with the circle is a plus.

  because it means that music will almost  certainly continue to grow and this will  have positive second-order impacts on  all the smart contract cryptocurrencies  music exists on notably Ethereum and  on the other hand BlackRock's  partnership with circle is a sign that  it's starting to pay close attention to  the crypto industry and this means  Blackrock could eventually take control  of certain crypto projects through  ownership of their coins or tokens the  same way it has with many publicly  traded companies  one of the publicly traded companies  BlackRock has a large stake in is none  other than twitter whose board of  directors opted to take the so-called  poison pill in response to Elon musk's  offer to buy the social media platform  for 43 billion dollars  as many media outlets were quick to  point out twitter's board of directors  didn't actually take a physical poison  pill what they did was introduce an  emergency plan in the event of a hostile  takeover which is economists speak for  buying too much of the company's stock  twitter's poison pill will make it  possible for existing shareholders to  purchase additional twitter shares at a  discount.

 if anyone acquires more than 15  percent of its total shares between now and the 14th of April 2023 be it elon or otherwise put simply if Elon tries to buy too much of Twitter stock twitter's board of directors will turn on the money printer for the stock which will shrink the 15  stake that's being held by Elon unless he buys more of the newly printed stock as basic economics dictates each individual's Twitter stock will become less valuable due to the massive increase in supply in the absence of equal or greater demand and this will make Twitter stock much less attractive to investors.

 hence the term poison pill  Elon seemed to be aware of this risk  going into it however because after he  announced he'd offered to buy Twitter  outright he did an interview where he  said that he has a plan b in mind if  twitter's board of directors refuses his  buy offer  Elon's epic filing with the securities  and exchange commission suggests he  might try selling the Twitter stock he  currently holds to crash its price at  which point he could buy back all the  shares he needs to take control of  Twitter at a discount before the poison  pills effects are felt  alternatively an investigation by the  new york post suggests that Elon is  looking for co-investors in his quest to  take over twitter though the authors  cite unnamed sources so this should be  taken with a grain of salt  a third possibility is that Elon or even  other shareholders of Twitter will sue  the company because the board of  directors isn't doing its job which is  of course to ensure that the company is  being run in a profitable manner and  that this is being reflected in the  price of twitter's stock .

 as far as I can tell this is the most popular perspective right now and that's because twitter's board of directors barely holds any twitter shares at all as Elon himself pointed out quote their economic interests are simply not aligned with shareholders and that could be grounds for a lawsuit speaking of publicly traded companies coinbase recently published a blog post where it explained that it wanted to be more transparent about the coins and tokens it's planning to list on its exchange shortly afterward a crypto influencer on Twitter named Kobe managed to dig up an Ethereum wallet that had purchased many of the erc20 tokens coinbase detailed in its blog post almost a day before.

it was published this has led to accusations of insider trading with Kobe and many other crypto holders speculating that coin base is giving this information to politicians in exchange for favors something that's not beyond the realms of possibility given that this kind of insider training is common among the political elite all I'm wondering is what criteria coinbase is using to list cryptocurrencies because the assets under consideration in the blog post don't exactly fit the stated listing criteria, to put it mildly now if you're wondering why this is such a big deal this is because the sec seems to have coin base in its crosshairs and the man looking through the sniper scope is sec chairman Gary Gensler.

you'll know that Gary believes just about every cryptocurrency is a  security and in his eyes that means coinbase and other crypto exchanges in the united states must register with the sec,  the only problem is that every cryptocurrency that's tried to register with the sec has received a massive fine instead of a license and no clear explanation as to what exactly they did wrong this is exactly what happened to coinbase last year when it tried to launch a product called coinbase earn where you could earn a modest four percent per year on the music stablecoin in response to the announcement the sec threatened to sue coinbase because coinbase earned constituted a securities offering akin to the sale of stock without explaining why coinbase subsequently dropped its plans for the product.

 so with this background in mind, it's easy to see how the sec would use allegations of insider trading as the perfect justification for a full-on crackdown on coinbase and other crypto exchanges in the united states and this would have a devastating effect on the crypto market if you ask me this is a part of a bigger trend to protect the big banks from the competition through regulation and exchanges aren't the only crypto services the big banks want to see slain if you're subscribed to my weekly newsletter you'll know I had a lot to say about celsius's recent changes to its platform for those unfamiliar celsius is an all-in-one crypto app that's known for offering high interest on crypto deposits notably stable coins where you can earn more than nine percent per year with the record inflation we're seeing in almost every country millions of people around the world have been using crypto apps like celsius to protect their savings including millions of Americans.

 for whatever reason, the sec seems to think that the average American investor needs to be protected from these high-risk platforms and services now if you ask me the real reason is that these crypto platforms compete directly with big banks which are currently offering sub-zero rates for fiat savings in any case the sec has been issuing massive fines to similar apps over the last few months notably block back in  February as you might have guessed one of the conditions of blocks settlement with the sec was to stop offering its crypto interest accounts to u.s users.

  the threat of a similarly massive fine is probably one of the many reasons why celsius made its earn feature off-limits to non-accredited investors in the united states last Friday from now on only accredited investors aka high net worth individuals will be allowed to use celsius's earned product in the united states note that these changes do not apply to celsius users outside the united states but some second-order effects have already begun with official inflation in the united states running hot at 8.5 percent the  9.3 offered by crypto lending platforms becomes that much less attractive besides better pays can be found in d5  notably terra's anchor protocol which is still offering almost 20 per year on the ust stable coin more about that in the description on the topic of defying Ethereum continues to be the undisputed leader in terms of total value locked.

 but the announcement of another delay to its upcoming merge could give its competitors an edge to quickly recap the merge is when Ethereum will be transitioning from proof of work to proof of stake and it was originally scheduled for the first half of this year however Ethereum developer Tim baco recently tweeted that it's unlikely the merge will be completed by June and a  specific date has not yet been set now normally this wouldn't be all that newsworthy since Ethereum has a  reputation for delays something common among most crypto projects what makes the delay different this time is that a specific timeline had been set and everything appeared to be going as planned this still seems to be the case.

 in the Ethereum dev's defense making such a  major change to the second-largest cryptocurrency is something you probably want to take your time with this ties into the second difference and that's the Ethereum difficulty bomb without getting too technical the difficulty bomb is a sort of special feature built into Ethereum that makes it abnormally difficult to mine after a  certain date or more accurately a  certain block the difficulty bomb exists to disincentivize Ethereum miners from participating on the network once it transitions to proof of stake and to incentivize Ethereum developers to finish the proof of stake by a specific date right now Ethereum's difficulty bomb is set to begin exploding around may which is less than two weeks away before you panic though it's important to point out that Ethereum's difficulty bomb has been delayed on many occasions too.

 it  will likely be delayed again but it  looks like they'll be cutting it fine  i talked about this in much greater  detail in a telegram post on Friday  that's linked to below  but in short Ethereum merge delay has  created uncertainty that Ethereum's  competitors will capitalize on  this will likely result in a small  migration of funds and users from  Ethereum to other EVM compatible chains  such as phantom and avalanche and some  would say that this has already begun  make no mistake however Ethereum will  continue to be the king of smart  contract cryptocurrencies for the  foreseeable future and you can check out  my most recent update about the project  using the link in the description  turning to the charts we can see that  BTC has had another tough week and it  looks like this week could be worse  that's because BTC is painting a bearish  pennant pattern on the daily which could  take it as low as 38k if it breaks to  the downside  for what it's worth bearish pennant  patterns do sometimes break to the  upside and in this case that would bring  BTC back up to around 42k  .

last week's top-performing cryptocurrencies were stepped compound finance audios eos and bitcoin cash an interesting combination to say the least starting with steppen the GMT token is pumping because the GST token that's earned by running as part of the project's novel move to earn model became tradable last week and happens to be increasing in value too now GMT still doesn't have enough price history for me to make a clear call.

 but as far as I can tell there seems to be a  lot of cell pressure above the 2.50 mark so all I'll say is be careful above this level next there's compound finance whose comp token appears to be rallying because of the recent release of the 2.0 version of the balance bridge which makes it possible to interact with Ethereum d5  protocols from the binance smart chain and vice versa last week comp was also added to Robinhood's list of tradable assets too which means a lot more retail exposure, unfortunately, there's not much to write home about on comp's price charts it's been in a steady decline since last May though it seems to have found some strong support around its current level as for audiences the audio token appears to be pumping because of an upcoming virtual concert that it'll be hosting with trap nation a popular music channel on youtube with over 30 million subscribers as you can see audio has a long history of pumping and dumping.