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Discover the excitement and rewards that await you at Xtreme.game with a 100% deposit bonus!Crypto Market UpdateTable of ContentsCrypto Market OverviewCryptocurrency Market Experiences Major DownturnSpot Ether ETFs Likely Denied Amid Bearish OutlookPost-Halving Satoshi Sells for Over $2 MillionRegulatory and Compliance NewsSamourai Wallet Founders Arrested by U.S. AuthoritiesEU's New AML Regulations to Impact Crypto ProvidersBipartisan Stablecoin Legislation Announced in the U.S.Exchange and Platform UpdatesVisa Introduces Analytics Dashboard for StablecoinsChivo Wallet Refutes Hack and Data Leak ClaimsBNB Chain to Launch Native Liquid StakingBanking and Investment InsightsMorgan Stanley to Offer Bitcoin ETFs to Clients?Turkey Leads Global Stablecoin PurchasesTechnological and Operational DevelopmentsMerlin Chain Experiences Explosive Growth in Bitcoin Layer-2Proposal for Smart Contract Functionality on Bitcoin NetworkBitcoin Miner Revenues Drop Post-HalvingAvail to Partner with Major Ethereum Layer-2 NetworksVenture Capital and FundingMovement Labs Secures Funding for Ethereum EnhancementsEthereum Verification Protocol Raises $20 MillionCommunity and Cultural ImpactCrypto Influencer Spreads False WW3 NewsAndreessen Horowitz CTO Criticizes Meme CoinsRenzo Adjusts Airdrop Allocation Amid Community FeedbackHigh-Value Transactions and AuctionsAlien Punk CryptoPunk Sells for Over $12 Million"Buy Bitcoin" Notepad Auctioned for 16 BTCCryptocurrency Market Experiences Major DownturnThe cryptocurrency market is experiencing significant outflows and a downturn in trader confidence, influenced by multiple factors including macroeconomic uncertainty, legal actions against crypto entities. Persistent concerns over U.S. interest rates and inflation have dampened market optimism, causing major cryptocurrencies like Bitcoin and Ethereum to decline. The recent charges against Samourai Wallet founders have exacerbated market fears, contributing to a pullback in Bitcoin recovery. Furthermore, the anticipation surrounding the Bitcoin halving has not sustained bullish momentum, with spot ETF inflows decreasing sharply. On April 24, eight Bitcoin ETFs reported zero inflows, with BlackRock's IBIT fund seeing its first non-inflow day. The overall sentiment is cautious, with reduced trading volumes and a wary outlook on upcoming regulatory and economic developments. BTC once fell to as low as $63,000 before recovering to $64,600 at the time of writing.Spot Ether ETFs Likely Denied Amid Bearish OutlookThe U.S. SEC is likely to deny the approval of spot Ether ETFs next month, with discussions indicating a lack of substantial details being shared with issuers, according to new reports. This follows the approval of spot Bitcoin ETFs after a court victory by Grayscale Investments. Despite the bearish information, Justin Sun has transferred roughly $500 million worth of Ethereum to a wallet linked to him, highlighting confidence among large Ethereum holders despite recent price volatility. Ethereum has seen a $57 million purchase by whales even as its price faces downward pressure, illustrating the continuing influence and strategic positioning of major players in the market despite market conditions and immediate price movements.Post-Halving Satoshi Sells for Over $2 MillionAfter mining the first post-halving satoshi, ViaBTC sold it for $2.13 million through an auction on CoinEx, revealing the potential value of individual sats. The Ordinals protocol enabled the identification and trade of sats, leading to the categorization of rarity levels. The "epic" sat, mined after Bitcoin's fourth halving, attracted considerable interest, evidencing the growing significance of individual sats. Samourai Wallet Founders Arrested by U.S. AuthoritiesU.S. authorities arrested the founders of Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, for operating a Bitcoin mixer involved in over $2 billion of unlawful transactions and facilitating $100 million in money laundering transactions from illegal dark web markets. Both face charges of conspiracy to commit money laundering and operating an unlicensed money transmitting business, with Rodriguez arrested in Pennsylvania and Hill in Portugal, pending extradition. The crackdown reflects increasing U.S. government action against crypto mixers, with significant implications for privacy and regulatory compliance in the cryptocurrency domain.EU's New AML Regulations to Impact Crypto ProvidersThe European Union's new anti-money laundering regulation (AMLR) will impact crypto asset service providers (CASPs), introducing enhanced due diligence measures and requiring customer due diligence for transactions above €1K. The legislation, not specific to crypto, aims to combat money laundering and terrorist financing, with CASPs being categorized as obliged entities under the broader AML/CFT framework. Bipartisan Stablecoin Legislation Announced in the U.S.US Representative Maxine Waters announces bipartisan consensus on stablecoin legislation, reflecting prolonged negotiations and collaboration. The bill, under discussion for nearly two years, prioritizes investor protection and market stability. Input from key financial authorities enhances credibility with asset-backed guarantees. Complementary legislation by Senators Gillibrand and Lummis indicates broader cryptocurrency oversight push. Visa Introduces Analytics Dashboard for StablecoinsVisa's new Online Analytics Dashboard for stablecoins aims to simplify complex data. By filtering out bot activity and adjusting transaction volumes, the platform provides clear insights, offering information on stablecoin supplies, transactions, and users. Visa's commitment to blockchain and stablecoin adoption, along with its collaborations and support for USDC, signifies its deep involvement in the crypto space. Chivo Wallet Refutes Hack and Data Leak ClaimsChivo wallet, El Salvador's official cryptocurrency wallet, refutes allegations of a hack compromising the personal data of 5+ million Salvadorans linked to its KYC processes. It denies data leakage, attributing a recent source code hack to a stolen ATM incident. Chivo dismisses the reports as fake news, asserting the security and protection of user information. BNB Chain to Launch Native Liquid StakingBNB Chain will introduce native liquid staking on BSC, replacing the closing Beacon Chain by June 2024. This move enhances network security and liquidity for users, supports DeFi activities, and aims to streamline operations while aligning with current technological needs. Liquid staking and MEV optimization will offer increased flexibility and rewards for BNB holders. Morgan Stanley to Offer Bitcoin ETFs to Clients?Morgan Stanley reportedly plans to enable its 15,000 brokers to recommend bitcoin ETFs to clients, marking a potential first among its peers. This move follows SEC approval of 11 spot bitcoin ETFs earlier this year, with giants like BlackRock and Fidelity among the approved. Meanwhile, US pension plan managers are anticipated to significantly invest in bitcoin spot ETFs, influenced by the potential approval of a spot ether ETF. Turkey Leads Global Stablecoin PurchasesTurkey leads in stablecoin buying, with purchases representing 4.3% of its GDP, surpassing the U.S. at 0.5% and the EU at 0.3%. Stablecoin use, mainly Tether and USDC, accounts for over 50% of recent crypto transaction volume. Increased stablecoin purchases in various nations are attributed to local currency instability and devaluation. Merlin Chain Experiences Explosive Growth in Bitcoin Layer-2Merlin Chain's Bitcoin layer-2 has experienced remarkable growth, surging by 2,000% in the past month to over $1 billion in total value locked. This positions Merlin as the largest Bitcoin sidechain, surpassing well-established layer-1 blockchains. The protocol integrates zero-knowledge proofs with Bitcoin's blockchain to enhance transaction privacy and efficiency. Proposal for Smart Contract Functionality on Bitcoin NetworkThe proposal to introduce OP_CAT, a smart contract functionality to Bitcoin, has been assigned BIP 347, marking the first step toward its potential implementation. Proponents seek to enable more complex applications and multi-signature setups on the Bitcoin network through the use of "covenants." The community debate on the proposal's future is imminent. Bitcoin Miner Revenues Drop Post-HalvingBitcoin miner revenues plunged by 40% to $63.6 million post-halving as Runes hype faded. The halving event halved new Bitcoin issuance, causing a temporary surge in miner earnings which quickly dropped. Transaction fees hit an unprecedented $80 million on halving day, but have since normalized to 35% of total revenue. The hash price has fallen to $0.07 per TH/s, prompting sustainability concerns for mining operations. Leading companies like Riot Platforms and Marathon Digital Holdings are focusing on expansion and consolidation to navigate the challenging conditions. Avail to Partner with Major Ethereum Layer-2 NetworksAvail, self-claimed leader in data availability, will integrate with major Ethereum layer-2 networks (Arbitrum, Optimism, Polygon, StarkWare, zkSync). Users can opt in for streamlined data storage. Avail prepares for a token airdrop and expands with Nexus to connect rollups. The team emphasizes production readiness, promoting efficiency and security within the blockchain ecosystem. Movement Labs Secures Funding for Ethereum EnhancementsMovement Labs raised $38M in Series A funding to develop Move-EVM for Ethereum, aiming to enhance smart contract security and transaction throughput. Their Move VM-based layer-2 solution, M2, achieves over 30,000 TPS. The company also plans a cross-compatible execution layer, Move Stack, and supports localized fee markets for reduced gas spikes and resource expenditure. Ethereum Verification Protocol Raises $20 MillionAligned Layer, an Ethereum verification protocol, secured a $20 million Series A funding led by Hack VC. The funding included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC, and Theta Capital. Aligned Layer's EigenLayer technology facilitates faster and cheaper zero-knowledge (ZK) proofs, enhancing code verification and application development on Ethereum.Crypto Influencer Spreads False WW3 NewsCrypto influencer Matt Wallace shared a debunked CGI video falsely portraying the start of World War 3, gaining 22.5 million views. His past involvement in rug-pulling schemes with Dogecoin and Accept Doge drew criticism. Wallace's sensationalist rebranding focuses on breaking news, including misleading content like the debunked WW3 footage and false COVID-19 vaccine claims. Andreessen Horowitz CTO Criticizes Meme CoinsEddy Lazzarin, CTO of Andreessen Horowitz, compares meme coins to a risky casino, believing they harm crypto's long-term vision. Meme coins' popularity diverts attention from real innovation. While some hedge funds invest, Lazzarin warns of the negative impact on adoption, regulation, and entrepreneurship. He emphasizes the need for the industry to prioritize genuine progress over meme-based speculation. Renzo Adjusts Airdrop Allocation Amid Community FeedbackLiquid restaking platform Renzo responded to community backlash by adjusting its airdrop allocation, increasing it from 5% to 7% in the first phase. The protocol plans to distribute 12% of its 10 billion token supply through user airdrops. Renzo rescheduled its claim date to coincide with the upcoming REZ token listing on Binance, generating significant market interest. Top Altcoin Gainers and LosersGainers:Wormhole W (+19.23%) Bonk BONK (+12.37%) Sei SEI (+5.86%) Losers:Immutable X IMX (-7.59%) Ronin RON (-7.32%) Nervos Network CKB (-6.05%) NFT Market MapAlien Punk CryptoPunk Sells for Over $12 MillionThe recent sale of a rare Alien Punk CryptoPunk #635 for $12.38 million in Ethereum marks a continuing trend of high-value transactions within the collection. With previous sales reaching $16.03 million and $16.42 million, CryptoPunks maintain their status as valuable NFTs. Other collections like Bored Ape Yacht Club have seen significant price declines post-2022 NFT market downturn. "Buy Bitcoin" Notepad Auctioned for 16 BTCThe auction of the "Buy Bitcoin" notepad, famously photobombed by Christian Langalis during Janet Yellen's 2017 testimony, concluded with a winning bid of 16 BTC worth over $1 million. The event, hosted at the Pubkey Bar in NYC, marked Bitcoin's notable presence in the global financial landscape, showcasing its enduring value and significance. This article has been refined and enhanced by ChatGPT.