Nifty News: NFTs for Trump-haters, carbon offsets, fractionalized CryptoPunks and more

Hit Trump where it hurts by buying his Tweets to help out charities, a new scheme to enable NFT purchasers to offset carbon emissions, and get yourself a piece of a Punk. A group of anon uni students has come up with a way to hit former President Donald Trump where it hurts: by using his Tweets against him to raise money for charities they believe he “despises”. ‘Strategic Meme Group Incorporated’ has set up the website Drumpfs.io to sell Trump’s tweets, at least as recorded by the Trump Twitter…

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Investment Manager Guggenheim Warns of ‘Major Correction’ in Bitcoin

Guggenheim CIO Scott Minerd has warned of a “major correction” in bitcoin in the near term. Claiming that bitcoin is “very frothy,” he is forecasting a 50% decline in the price of the cryptocurrency. Scott Minerd’s Latest Warning About Bitcoin The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with another bearish prediction for bitcoin’s price. Minerd is also the chairman of Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners. Guggenheim Investments has about $270 billion in total assets under management across…

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Peter Brandt: ‘Laser eyes’ to blame for Bitcoin correction — but it’s ‘very mild’ anyway

Bitcoin has corrected 17% so far but could have much further to go. Veteran trader and chart guru Peter Brandt has made a cheeky correlation between the current Bitcoin market correction and the prevalence of ‘laser eyes’ on Twitter. In a tweet on April 18, the technical analyst tied the correction to irrational exuberance in markets as exemplified by the meme: “The chances of a correction in cryptos is directly related to the prevalence of laser eyes on Twitter. Want the correction to end? Get rid of your laser eyes.”…

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Multi-billion dollar investment trust backs Kraken ahead of possible listing

A London-based trust with ties to the Rothschild banking family, acquired a stake in crypto exchange Kraken last month. The $5.3 billion dollar investment trust RIT Capital Partners has acquired a stake in leading crypto exchange Kraken. The London based-trust, formerly named Rothschild Investment Trust, holds ties to the Rothschild banking family of England through Chairman Jacob Rothschild. In an April 12 note to investors, James Glass described the exchange “one the world’s biggest crypto exchanges having been founded in 2011. It has more than 6M clients and is the…

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South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’

The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions. Remittances to Exploit Kimchi Premium Could Be Flagged as Money Laundering According to Maeil Kyungjae, South Korea’s government has found that some domestic investors actively send their fiat abroad to buy crypto from sellers in China. The maneuver allows these crypto traders to sell the digital assets…

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Simple steps to safeguard your wallet from unlimited ERC-20 allowance risks

The funds in your ERC-20 wallet could be at risk if you continue to grant unlimited approvals to decentralized applications. Participating in the decentralized finance space often necessitates the need to grant projects certain permissions to spend tokens from one’s own wallet. These permissions — called ERC-20 allowances — help to simplify the smart contract interaction processes that allow users to send funds to a contract while simultaneously calling a state change function. However, malicious actors can utilize this allowance to drain funds from an unsuspecting trader. To understand this…

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Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network

Solana price is pushing toward new highs as an increasing number of DApps, DeFi projects and stablecoins build platforms on the network. The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but it has also highlighted a number of persistent limitations that many blockchain networks encounter when faced with surges in activity and the need to scale.   High fees and slower transaction times on the Ethereum (ETH) network have left the door open for new layer-1 solutions…

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House passes digital asset innovation act to clarify crypto regulations

U.S. financial regulators will now work together to create modalities for clear-cut crypto regulations in America. The United States House of Representatives on Tuesday passed H.R. 1602 — the Eliminate Barriers to Innovation Act — introduced by Rep. Patrick McHenry (R-NC). H.R. 1602 was among six bipartisan financial services-related bills passed by the House on Tuesday, with the McHenry-sponsored legislation focusing on regulatory clarity for cryptocurrencies. Introduced back in March, the bill seeks to clarify the roles of agencies like the Securities and Exchange Commission and the Commodity Futures Trading…

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Sale of MTI Bitcoins in South Africa Briefly Wipes out Premium Buyers

The premium or arbitrage gap on bitcoin in South Africa recently turned negative following the offloading of coins worth over $75 million by liquidators of MTI. As a result of the temporary supply glut, buying bitcoins on local South African exchanges briefly became cheaper than buying on overseas exchanges. The Impact of the MTI Liquidators’ BTC Sales However, following the conclusion of the liquidators’ sale nearly two weeks ago, the arbitrage gap has now turned positive. As one South African media report notes, the premium of BTC has now recovered…

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Finance Redefined: Puff, puff, pump on 4/20! April 16-21st

A new generation of crypto investors get taken for a ride as Aave makes some puzzling moves. Loyal Finance Redefined readers: Hi, I’m Andrew. My inestimable colleague Andrey, the previous compiler of this newsletter, is stepping away from Cointelegraph in order to build [REDACTED], leaving me to take over lettering the news. While I’m thrilled he’ll be keeping around the DeFi ecosystem, I’m also infuriated that there’ll be yet another gigabrain trading against me.  Also: journalists quitting their jobs to do DeFi stuff. Talk about top signals. While DeFi tokens…

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