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Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified

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Crypto Whale Data

@0x1d7a9641dcccfe07c722bede8b3c2221cc19d4caThis wallet account is Animalverse Club NFTs holder has been Verified

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  • Russia seen as largest Bitcoin mining beneficiary if Trump's tariffs hit in full, industry expert says Despite President Donald Trump's embrace of crypto and desire to make the U.S. a "Bitcoin mining powerhouse," companies in the industry have been rushing to adjust their short and long-term plans in an attempt to weather the impact of the president's tariff policies, with Russia potentially the main beneficiary. Trump's tariff announcements hit both traditional and crypto markets hard between February and early April, especially following "Liberation Day," when he laid out reciprocal import tariffs with a baseline of 10% and more than 50% in some cases. However, a 90-day tariff pause for most countries, except China, subsequently offered some relief that has continued into May. The trouble is, most Bitcoin mining hardware is still designed outside of the U.S. The industry has long been dominated by Antminer, a product line of China-based Bitmain Technologies with over 80% market share. Therefore, raising import tariffs on the required equipment severely impacts the industry's bottom line and the share prices of publicly listed Bitcoin mining firms in the country. The current environment is perhaps exemplified by Riot platforms selling bitcoin for the first time in 15 months this April to help finance operations — a break from its typical "hodl" strategy amid rising costs. "As of today, we are facing a 12.6% tariff from units shipping from Asia to the U.S.," Luxor Technology Chief Operating Officer Ethan Vera recently told The Block. "We expected this to increase in July from 26.6% to 38.6% depending on country of origin. There is of course a chance that these tariffs are re-negotiated ahead of the 90-day pause." Luxor is a Bitcoin mining technology and services company that operates mining pools, offers ASIC brokerage, custom firmware, and hashrate derivatives. Although the U.S. is its largest market, Luxor services mining companies in 32 countries. If the tariffs are implemented, the firm expects to see a reduction in demand from the U.S., and machines going to other countries. Vera warned that if tariffs are enacted on the industry's supply chains in full, he expected the largest beneficiary to be Russia as the global mining hashpower landscape begins to reshape and U.S. growth decelerates. This is principally as Russian mining firms will be able to procure machines for less, and China-based capital will increasingly flow in that direction, Vera explained, adding that capital providers from the U.S. and Europe would begin investing more heavily in Canada, Northern Europe, Ethiopia, Brazil, Argentina, Chile, and Paraguay. BitFuFu, a bitcoin mining company that offers cloud mining services and mining hardware hosting, told The Block that while the U.S. remains one of the most important regions for Bitcoin mining, thanks to its abundant energy resources and relatively supportive regulatory environment, emerging markets with access to low-cost energy — particularly in regions like parts of Africa — could start to benefit as miners look to diversify their operations and manage costs. Contrasting short-term plans When the tariffs were first announced, Luxor "raced" to get as many deals moving as possible, according to Vera. Since the pause, it has still been helping miners procure machines and import them into the U.S., just with less urgency than before and with little sign of supply chain disruption so far. However, the firm expects to see a large increase in volume during the first week of July ahead of the 90-day expiry, amid uncertainty on whether or not the window will be extended or tariffs implemented. BitFuFu seems less concerned in the short term, confirming that its plan to increase investment in mining facilities and machines in the U.S. remains unchanged, despite the majority of its hardware being sourced from Southeast Asia, adding that the 90-day pause had no "material impact." However, the company procured thousands of Antminer's latest S21 series machines ahead of the tariff announcements, not all of which have been energized, easing any short-term pressure as it also seeks to acquire additional operational sites to support hashrate expansion. "While tariff levels can vary, we are closely monitoring the situation and evaluating potential impacts," a spokesperson said. "The cost of mining hardware, including tariffs, is just one component of the total mining costs," they added. "The cost of electricity is, by far, the largest cost for mining bitcoin, which is why we prioritize placing our machines at sites we control — so we can better manage returns. Currently, all our secured, self-operated U.S. sites are already running at full capacity. In addition, we generate the majority of our revenue from our cloud-mining business, where we lease hashrate to customers. This provides us with greater flexibility to manage our profitability across cycles." Meanwhile, Bitmain spin-off Bitdeer, a bitcoin mining company that offers cloud mining, hosting, and infrastructure services, said it continues to navigate the evolving tariff landscape, particularly the newly imposed tariffs on mining hardware from Southeast Asia. "During the 90-day pause, we are balancing short-term procurement strategies with long-term investments, including plans to introduce 'Made in USA' Sealminer machines in the latter half of this year," Bitdeer Head of Capital Markets and Strategic Initiatives Jeff LaBerge told The Block. He added that its global operations meant it can redirect machines to its self-mining facilities around the world to help mitigate any potential profitability risks. Long-term tariff impact Longer-term, Vera said Luxor was excited about the prospect of machines being produced in the U.S., but warned it could take years to fully onshore Bitcoin mining equipment manufacturing, echoing similar views to BitFuFu, who is seeing some manufacturers beginning to increase their U.S.-based production. "We think that final assembly in the U.S. is possible today, and many manufacturers are doing it," Vera said. "However, the raw materials and components largely come from Asia so the machines will still end up carrying a higher cost. For a machine to be produced mostly from components sourced from the U.S., we expect it will take at least a few years before that is at scale." "Tariff policies will inevitably raise the capital cost for purchasing mining rigs, which could temporarily curtail mining expansion in the U.S.," the BitFuFu spokesperson added. "However, mining economics are highly dynamic. If higher costs push less efficient miners out of the market, we could see a decrease in mining difficulty, which would help improve profit margins for the remaining operators." Regarding the course of action Luxor would like to see the Trump administration take next, it is pushing for Bitcoin mining ASICs to receive an exemption similar to HTSUS 8471 on certain imports of computers, laptops and servers. "We think it's important given the administration's campaign stance on helping the domestic industry and improving the mining industry in the U.S.," Vera said, adding that the firm is engaged with several groups advocating for fair treatment of Bitcoin miners in the U.S. "We hope to see progress toward easing tariff pressures to vitalize the industry and attract more investment into the U.S. mining ecosystem, ultimately creating more growth opportunities," the BitFuFu spokesperson said. "For the time being, we are observing the administration's actions." Meanwhile, Bitdeer's LaBerge argued that shifts in vendor preferences and sourcing strategies are already becoming evident. "Tariff policies are expected to accelerate domestic manufacturing efforts, reshape the distribution of global hashpower, and drive growth in emerging mining markets beyond North America," he said. 'No credible reports' of Bitcoin mining industry trying to game US Customs controls Tariffs are not the only disruption to the U.S. Bitcoin mining industry in recent months. In February, mining sector news publication Blockspace reported that U.S. Customs and Border Protection was ramping up seizures of Bitcoin mining machines at ports of entry, citing documents including a notice of seizure of $5 million worth of goods from the Federal Communications Commission requesting the CBP to requisition MicroBT and Canaan units. The U.S. Customs and Border Patrol began seizing Bitmain products last year because they contain chips from the now trade-restricted company, Sophgo. However, the exact motivation for expanding the order to include MicroBT and Canaan products, especially given that Canaan is a listed stock in the U.S. and MicroBT has a manufacturing pipeline in the country, was unclear. Meanwhile, amid recent allegations that some Bitcoin mining firms were increasingly underreporting ASIC shipment values to game U.S. customs following Trump's tariff announcements, Bitdeer's LaBerge played down the likelihood. "On CBP reporting, as a Nasdaq-listed company, Bitdeer has always maintained strict compliance with all applicable laws and regulations, including customs import and export requirements," he said. "To our knowledge, neither Bitdeer nor any of our partners have engaged in such practices. We have not encountered any credible reports of others doing so either."
  • Metaplanet buys additional 555 BTC, issues another $25 million in bonds for more Metaplanet, often dubbed Asia’s Strategy for its continued bitcoin accumulation, has purchased additional bitcoin worth about $53.4 million. In its latest disclosure on Wednesday, the Japanese investment firm said that it acquired 555 BTC for roughly $53.4 million at an average price of about $96,134 per bitcoin. According to CEO Simon Gerovich’s post on X, the company now holds 5,555 BTC, purchased for $481.5 million at an average price of $86,672 per bitcoin. “In Japanese, the number 5 is pronounced ‘Go,’ so today we’re shouting: Go go go go — to the moon and beyond!” Gerovich said on X. Metaplanet has been steadily accumulating bitcoin since unveiling its crypto strategy in April 2024. It aims to grow its holdings to 10,000 BTC by the end of 2025 and reached half of that target last month. Also today, it issued another series of ordinary bonds worth $25 million for additional bitcoin purchases. This marks the 13th batch of bonds the company has issued, made just a week after the 12th series that raised the same amount. U.S. expansion Alongside its crypto ambition, the Japanese firm eyes U.S. expansion. Last week, it announced that its board of directors had resolved to establish a wholly-owned U.S. subsidiary in Miami, Florida. “We intend to accelerate this strategy by establishing Metaplanet Treasury Corp. in Florida, a rapidly emerging hub for Bitcoin-focused companies and financial innovation, recognized for its business-friendly policies and rising status as a global center of capital and technology,” the firm said last week. Metaplanet remains Asia’s largest public corporate bitcoin holder, and ranks 11th globally, according to Bitcointreasuries.net data. Michael Saylor’s Strategy remains on top of the list with 555,450 BTC. Metaplanet’s stock jumped 13.3% so far on Wednesday in Japan, though trading is still underway in the afternoon session.
  • Florida indefinitely postpones two strategic bitcoin reserve bills Florida has postponed two bills that would have allowed investment in bitcoin from certain public funds in the state. According to the state legislature's website, on May 3, House Bill 487 and Senate Bill 550 were "indefinitely postponed and withdrawn from consideration. " HB 487, filed in February, aimed to authorize the state's chief financial officer to invest certain public funds in bitcoin. SB 550, also introduced in February, proposed similar measures. "The legislature adjourned its 2025 session on May 2, without passage of the bills," Bitcoin Laws, a bitcoin legislation researcher, said in a post on X on Monday. With the withdrawal of the two bills, Florida appears to have stepped back from efforts to authorize state-level crypto asset investment legislation. Arizona’s SB 1374 and New Hampshire’s HB 302 have made the most progress among similar bills nationwide, according to data from Bitcoin Laws. Last week, Arizona Governor Katie Hobbs vetoed SB 1025, a bill that would have allowed the state's treasurer and retirement systems to invest up to 10% of their funds in crypto such as bitcoin.
  • Wemade's Wemix token plunges 60% after South Korean exchanges announce delisting Wemix, the cryptocurrency from South Korean Web3 game developer Wemade, dropped over 60% on Friday after local exchanges announced plans to delist the token for the second time. Starting around 3 p.m. Friday in South Korea, the price of Wemix plummeted from $0.7225 to a low of $0.2757 in a matter of 15 minutes. It has since recovered to around $0.36 as of publication time, though it remained down 50% compared to the same time yesterday, according to CoinMarketCap data. The plunge appears to have been triggered by a collective announcement from major local crypto exchanges regarding their decisions to delist the token from their platforms. South Korea's five major exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — are the only platforms where users can deposit fiat to trade crypto, effectively representing the country's entire crypto market. Major decisions on specific tokens are made through DAXA, the Digital Asset Exchange Association, whose members include these five platforms. Wemix trading is set to cease on these exchanges starting June 2, with token withdrawals ending on July 2, according to the announcement. $6.2 million exploit The token, originally developed for Wemade's Web3 gaming ecosystem, was placed on an investment caution list by the major exchanges earlier this year, following a February exploit that resulted in the theft of $6.2 million worth of Wemix tokens from the cross-chain protocol Play Bridge. However, the Wemix Foundation waited four days before alerting users to the exploit, later explaining the delay as a measure to "prevent market panic." The token's price fell 40% during the four-day period, dropping to $0.42. DAXA said today that the Wemix Foundation insufficiently addressed the issues that caused the designation as an investment caution cryptocurrency, according to Bithumb's announcement. "As a result of comprehensively reviewing the issuing entity's credibility and security, we determined that the asset does not meet the criteria for maintaining transaction support," DAXA said. Wemix token was previously delisted from DAXA member exchanges in December 2022 after the actual number of circulating tokens exceeded the amount stated in its disclosure statement. It became the first native token in South Korea to be suspended by trading platforms twice, local news agency Yonhap reported. Wemix responds Following Friday's delisting announcement, the Wemix team released a statement apologizing to its community for the token's removal from local exchanges. "We want to clearly state that the foundation and Wemade have unwavering commitment and belief in the growth of the WEMIX ecosystem, regardless of the domestic exchanges' decision to terminate trading support," Wemix said. "The team will dedicate all available capabilities and resources to swiftly overcome the impact of the trading support termination and return to a normal trajectory." The project added that it will continue with its buyback of 10 billion Korean won ($7.1 million) worth of Wemix tokens, which was announced in March with the aim of restoring its market value. Wemade's stock closed down 17.45% at 23,650 won ($16.77) on Friday in South Korea, according to Google Finance data. It is down 32.1% year-to-date.
  • Kraken launches crypto derivatives trading for UK professional investors in latest expansion for the firm Crypto exchange Kraken has launched derivatives trading in the United Kingdom, the company’s second-largest market. The product is available only to "Professional Clients," as defined by the U.K. Financial Conduct Authority. Kraken began "quietly" rolling out the offering in recent weeks, according to Alexia Theodorou, Kraken’s head of derivatives. "As a new product, we rolled it out gradually just to make sure that it reached a few specific clients first," she said. "Now it's open to 100% of our clients who need to go through a specific onboarding process for derivatives." Derivatives represent roughly 70% to 75% of total crypto trading volume, Theodorou said. While derivatives and spot volumes are "currently on par" on Kraken, she added that "crypto derivatives are growing at a faster pace than spot," in general. "That's why we are doubling down on derivatives, given the trends and ratios that we see as more and more institutional clients are entering the space," said Theodorou. "We see it as a big investment from our end in the UK, given how important the UK is for Kraken. Opening up our flagship derivatives product to eligible UK clients is a big thing for us." The derivatives will be offered through the Kraken Multilateral Trading Facility (MTF), a regulated platform operated by Crypto Facilities, which became the first crypto firm to secure an MTF license from the FCA in 2020. Access will be provided through Kraken’s futures broker in Bermuda. Kraken acquired Crypto Facilities in 2019 in a deal valued at over $100 million. The firm offers a number of exotic products, including multi-collateral perpetual contracts, which Kraken was the first to offer. These contracts are “a very capital efficient way of trading for institutional clients,” Theodorou said. “It gives them the ability to trade using many collaterals and leverage, but also gives them the ability to start trying out more strategies with their spot trading, be it hedging or any other market neutral strategies that they might want to execute.” Theodorou said that it’s early days for crypto derivatives and that in equities markets, derivatives often represent 10 to 15 times more trading volume than spot. A lot of this comes down to bespoke geographical regulations, which have so far prevented Kraken from expanding into major markets like the U.S., Korea, and even some European countries. “Even though the spot crypto market only now is starting to get regulated with MICA and other jurisdictions across the world, derivatives have always been regulated,” Theodorou said. “There are specific licenses that you need to hold to open up to specific countries.” Kraken has recently acquired a MiFID II entity in Cyprus and U.S.-based NinjaTrader, paving the way for future expansion of its derivatives offering in those regions. The firm has also moved beyond crypto by adding U.S. equities trading to its mobile and web platforms. “It's a matter of priority then on what other jurisdictions we want to start offering this regulated product through our licensing efforts,” Theodorou said. Kraken, which is reportedly looking to go public, generated $1.5 billion in revenue in 2024.
  • Blockchain forensics firm Crystal Intelligence plans to acquire Scam Alerts, a web3 fraud notification platform currently operated by crypto transaction monitoring firm Whale Alert. Terms of the deal were not disclosed. The acquisition is expected to close by the end of May. Once completed, Scam Alerts will become a standalone, non-commercial entity within Crystal Intelligence, according to a release shared with The Block. "Too often, scam victims are left with no place to turn," Navin Gupta, CEO of Crystal Intelligence, said in an email to The Block. "Scam Alert is about giving them a way to speak up and be heard. Every report submitted contributes to a clearer picture of how these scams operate, where they’re spreading, and who they’re targeting. That kind of insight is incredibly valuable for prevention and for the investigators and enforcement agencies who are trying to keep up with an increasingly complex threat landscape.” Crystal Intelligence aims to streamline how crypto fraud victims report scams as well as to aggregate individual fraud reports, the release continues. More broadly, the company seeks to improve cryptocurrency adoption by lowering the prevalence of scams within the space. Whale Alert will act as an advisory partner following this acquisition. Crystal Intelligence intends to launch a comprehensive data collection that supports numerous languages and provides a better victim support structure. Additionally, Crystal plans to bolster collaboration with law enforcement worldwide, with Scam Alert set to work closely with local blockchain communities globally. "Localization for us means more than just language; it’s about cultural context, regional fraud patterns, and trusted community partners," said Crystal COO Marina Khaustova in an email to The Block. "Scam Alert is our direct response to the urgent need to address the growing issue of fraud." Navin Gupta joined Crystal as its CEO in February 2024 after previously serving as the managing director of the crypto firm Ripple. Crypto-related financial crimes appear to be on the rise, a recent report from the Federal Bureau of Investigation's cybercrime arm shows. The FBI's Internet Crime Complaint Center received around 150,000 complaints involving cryptocurrency and calculated losses to exceed $9.3 billion. This represented a 66% increase compared to 2o23, with individuals 60 years or older losing around $2.8 billion from crypto-related internet crime, The Block previously reported.
  • Binance founder CZ wants crypto-AI agents to have real utility as 99.99% of their tokens are ‘useless’ Changpeng Zhao, founder and former CEO of Binance, says he wants crypto-AI agents with tokens to demonstrate real utility, stating that nearly all of them are useless. “Today there are so many different AI agents with a token but agents don’t have a utility. I want to see real agents that have real utility that can really help you, with tokens. There are AI token launchpads where you click a button, and you have an AI with your own name. That token is useless — 99.99% of them are useless,” said CZ in a fireside chat at Token2049 in Dubai. “What we want to see is real AI agents that can use things.” CZ said AI will completely revamp the crypto user experience and how people interact with blockchains. This could include the app experience, customer support and risk monitoring among other improvements. “It’s all going to change,” he said. Binance's founder said it was unfortunate that the crypto industry developed before AI did. He said that it needs to change to an AI industry — embracing the benefits of the technology. He noted that he’s using AI heavily in his educational platform, Giggle, particularly in translating text to other languages. However, the flip side is that AI can easily adopt cryptocurrency. “The currency for AI is crypto,” CZ said. “AI is not going to swipe a card, get an SMS code, that doesn’t work for AI. It’s going to be crypto.” CZ said the internet data that has been used to train AI agents has now been exhausted. Going ahead, this data could be captured in a privacy-preserving way using blockchain technology, he suggested. He added that users should be able to monetize the data that they create. On the speed of development, CZ noted that crypto companies exploded much faster than internet companies did back in the day — and that AI companies are going to rise at an even faster rate. But with blockchain tech, they can more easily monetize. Helping countries adopt crypto When it comes to broader adoption, CZ said he’s speaking with around a dozen countries on helping them understand how to encourage crypto’s growth in their regions. He said there was a big shift in the last six months or so, since around the time of the US election. He referenced the new administration’s pro-crypto stance and Elon Musk’s reported idea of using blockchain for government efficiency. He said other parts of the world are also exploring similar ideas, such as the UAE looking at decentralized IDs. Today, blockchain is a single dimension for trading/financials. We can expand blockchain to multiple dimensions,” he said. CZ specified that the countries reaching out to him are looking at how to regulate crypto. Typically, these are quite advanced conversations about specific issues on regional adoption. He said regulators generally want to manage everything locally, such as having local wallets and custody solutions and local order books. Only he argued that this approach doesn’t particularly work. “If you divide each country by their own order book, liquidity is gonna suck,” he noted. On crypto reserves, he said countries are incentivized to create them earlier because they may have to buy at higher prices if they are late to the table. He recommends using professional custody solutions if they’re starting with smaller amounts, with the notion of moving to their own cold storage solution if they grow to holding larger amounts. While he highlighted a few countries that are embracing crypto, such as Hong Kong and Bhutan, he noted that Europe doesn’t seem to be in the conversation (except for Montenegro). “It’s kind of missing on the map,” he said.
  • SEC ends investigation into PayPal’s PYUSD stablecoin without enforcement The U.S. Securities and Exchange Commission has dropped its investigation into stablecoin PayPal USD (PYUSD), the payment giant said in its latest disclosure. In a Form 10-Q filed on Tuesday, PayPal said that the SEC informed the company in February that the agency was closing the inquiry surrounding a 2023 subpoena related to PYUSD "without enforcement action." In November 2023, PayPal received a subpoena from the SEC requesting information about its PYUSD stablecoin. "The subpoena requests the production of documents," the company said at the time. Such subpoenas typically serve as a way for the SEC to gather information and do not necessarily result in legal action or enforcement. The latest disclosure comes on the heels of a partnership announcement between PayPal and Coinbase. The pair announced last week that they have partnered to eliminate trading fees for PYUSD, allowing users to buy, sell, and trade PYUSD on Coinbase without incurring platform fees, and to redeem PYUSD at a 1:1 ratio for USD directly on the exchange. PayPal launched the PYUSD in August 2023 through a third-party issuer. However, the stablecoin's market presence continues to be dwarfed by rivals Tether's USDT and Circle's USDC. PYUSD has a market capitalization of $879.9 million, compared to USDT’s $148.4 billion and USDC’s $62 billion, according to The Block's price page. To boost adoption, PayPal expanded PYUSD to Solana in May 2024 and later partnered with crypto custodian Anchorage Digital to help develop a stablecoin reward program. It has also partnered with MoonPay to expand payment options for purchasing PYUSD.
  • South Korea's ruling party pledges spot crypto ETF trading, expanded bank access as election looms: report The People Power Party (PPP), a major right-wing political party in South Korea, has pledged to expand banking access for crypto exchanges and allow trading of spot crypto exchange-traded funds within this year, as it seeks to court the crypto sector ahead of the upcoming presidential election. In a Monday meeting at the National Assembly, the party unveiled seven initiatives to foster a crypto asset ecosystem, local news outlet Edaily reported. The party first pledged to scrap the "one exchange, one bank" rule, which financial authorities had enforced to curb money laundering and monitor suspicious transactions by requiring crypto exchanges to partner with a single bank for real-name verified accounts. The PPP also pledged to permit spot crypto ETF trading within this year. Park Soo-min, a lawmaker, said that U.S. spot bitcoin ETFs have attracted strong interest and large trading volumes, adding that South Korea "cannot afford to delay any longer," according to the report. Both the PPP and the Democratic Party have previously called for lifting the ban on spot crypto ETFs. The PPP’s crypto proposals come as South Korea prepares to elect its new president on June 3. Yoon Suk-yeol, the country’s 20th president, was removed from office on April 4 after the Constitutional Court unanimously upheld his impeachment over a controversial martial law declaration in December. As part of the crypto initiatives announced Monday, the PPP also plans to legalize security token offerings and introduce a regulatory framework for stablecoins in line with global standards. It also intends to propose a bill called the "Digital Asset Promotion Basic Act." To carry out its initiatives, the PPP intends to set up a special crypto committee under its presidential candidate. The committee is expected to lead efforts to promote crypto, support industry innovation and rebuild investor confidence, according to the local media report. South Korea’s financial authorities are moving to ease crypto restrictions. In January, the Financial Services Commission said it would gradually lift a ban that prevents institutional investors from investing in cryptocurrencies. The agency is also pursuing follow-up legislation to the country’s first crypto regulatory framework, focusing on stablecoin rules, token listings and disclosure requirements.
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