Author: Faith Yakubu

The first edition of the Trump Digital Trading Card NFTs has experienced a significant downturn in sales, with trading volumes plummeting by 99% over the last 30 days. Data from OpenSea reveals a stark decline in transactions, with no activity recorded in the past week. This marks a sharp contrast from the initial buzz surrounding the collection, which generated over $50 million in total trading volume since its launch in December 2022.

Trump’s Relationship with Crypto

Former U.S. President Donald Trump has shown increasing interest in crypto and bitcoin, evident from his foray into the NFT market with the release of digital trading cards. However, waning interest in the original collection coincides with Trump’s upcoming criminal trial, where he faces allegations of falsifying business records related to hush money payments.

Comparison to Overall NFT Market

While overall NFT trading volumes have moderated compared to the frenzied activity of 2021, the broader market has exhibited relative stability in recent months. Ethereum-based NFT sales volumes reached $489 million in March, according to CryptoSlam! data, indicating ongoing activity despite the subdued performance of specific collections like Trump’s.

Second Series Performance and Promotions

In contrast to the decline in the first edition, the second series of Trump’s digital trading cards has seen relatively better performance, albeit with a 57% decrease in trading volumes over the past 30 days. Recent promotions for the collection included the opportunity for collectors to win a dinner invitation with Trump at Mar-a-Lago, scheduled for May 8, as announced on X.

Ownership and Management of NFT INT LLC

NFT INT LLC, the entity responsible for managing the NFT drops and promotions, operates independently from Donald J. Trump, The Trump Organization, and affiliated entities. While the website for the digital trading cards states that NFT INT LLC holds a paid license from CIC Digital LLC to use Trump’s name and likeness, Trump’s previous association with CIC Digital LLC has raised questions about ownership and management.

The minting of NFTs based on Trump’s likeness occurs on the Polygon blockchain, adding a layer of digital authentication to the collection.

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BlackRock’s IBIT spot bitcoin exchange-traded fund (ETF) has achieved a significant milestone, with total inflows surpassing $15 billion within just three months since its launch on January 11. This remarkable achievement places IBIT among the top 100 ETFs by assets under management (AUM), highlighting the strong demand for exposure to bitcoin among investors.

Dominance in Spot Bitcoin ETF Inflows

BlackRock’s IBIT has emerged as a leader in yesterday’s inflows for U.S. spot bitcoin ETFs, attracting $192.1 million. This surge in inflows outpaced the $124.9 million in outflows from Grayscale’s higher-fee GBTC fund, according to data from CoinGlass. Bitwise’s BITB, Valkyrie’s BRRR, and Fidelity’s FBTC also experienced notable inflows, contributing to the overall growth of the spot bitcoin ETF market.

Renewed Marketing Efforts

The milestone achievement coincides with a renewed advertising push for BlackRock’s IBIT, as competition intensifies in the ETF market. iShares, BlackRock’s ETF division, has ramped up its marketing efforts to promote the IBIT product, with banner ads appearing prominently on platforms like Bloomberg. The increased visibility underscores the escalating marketing battle among ETF providers vying for investor attention.

Steady Trading Volume and Asset Growth

Despite fluctuations in bitcoin’s price, trading volume for spot bitcoin ETFs remained steady, with IBIT leading in trading activity. However, daily volume saw a decline from its peak on March 5, indicating a stabilization in trading activity following previous surges. Meanwhile, BlackRock’s IBIT continues to experience significant asset growth, nearing the $20 billion mark in AUM. The fund’s rapid ascent in assets underscores its popularity among investors seeking exposure to bitcoin.

Overall, the success of BlackRock’s IBIT spot bitcoin ETF highlights the growing demand for cryptocurrency investment vehicles in the traditional financial market. With its rapid inflow growth and increasing market presence, IBIT is poised to remain a key player in the evolving landscape of digital asset investment.

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Russian authorities have conducted raids on four major “illegal” data centers in Siberia, resulting in the seizure of over 3,200 cryptocurrency mining rigs. The Novosibirsk branch of the Russian power provider Rosseti, in collaboration with law enforcement agencies, led the crackdown on these illicit operations.

Criminal Charges Filed Against Mining Center Operators

According to reports from Rosseti via RBC Crypto, police have leveled criminal charges against the operators of these mining centers. The facilities were identified as part of an interconnected “network” of illegal crypto-mining operations scattered throughout the city of Novosibirsk.

Massive Electricity Theft Uncovered

Rosseti revealed that the illicit mining centers collectively stole an estimated $2.1 million worth of electricity from the Novosibirsk power grid. During the raids, authorities confiscated nine power transformers along with the 3,225 cryptocurrency mining devices.

Widespread Presence of Illegal Mining Farms

Novosibirsk, the largest city in Siberia, has emerged as a significant hub for Russia’s rapidly growing crypto mining industry, alongside Irkutsk located nearly 2,000km to the east. However, concerns have arisen over the surge in illegal mining activities, characterized by unauthorized connections to the power grid for electricity theft.

Police Crackdown and Legal Ramifications

In a coordinated effort, Novosibirsk police officers shut down operations at all four illegal crypto-mining farms simultaneously. The raids targeted facilities located near a wastewater treatment plant, in a forest on the outskirts, near a city landfill, and within a private sector area. Despite the sophisticated power equipment used by the operators, none of the centers were authorized to connect to the power grids.

Officials have pressed charges against the operators, highlighting the severity of the electricity theft. If convicted, the perpetrators could face significant jail time for their involvement in illegal crypto-mining operations.

The crackdown underscores the ongoing battle against illicit cryptocurrency activities, emphasizing the need for regulatory enforcement to maintain integrity within the industry.

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Shiba Inu, renowned for its innovative approach in the blockchain sphere, has made history as the first layer 2 blockchain to join forces with the Content Distribution and Security Association (CDSA) in a bid to revolutionize blockchain technology for content security and distribution, with a primary focus on the media and entertainment sector.

In collaboration with the Content Distribution and Security Association (CDSA), Shiba Inu aims to introduce and develop blockchain solutions tailored specifically for the media and entertainment industry, with a strong emphasis on enhancing security protocols and optimizing content distribution mechanisms.

The partnership between Shiba Inu and CDSA signifies a significant step towards leveraging blockchain technology to combat prevalent concerns within the AI sector, including the proliferation of deepfakes and plagiarism. By integrating blockchain solutions, Shiba Inu seeks to address these challenges and foster a more secure and transparent ecosystem for content creation and dissemination.

Shytoshi Kusama, the lead developer at Shiba Inu, expressed enthusiasm about the collaboration, highlighting the opportunity to contribute a unique blockchain perspective to CDSA’s initiatives. Kusama emphasized the importance of leveraging innovative technologies like blockchain and artificial intelligence to empower media and entertainment executives in navigating the rapidly evolving digital landscape.

According to Shiba Inu developers, blockchain technology holds immense potential in mitigating the risks associated with AI-driven technologies, particularly in safeguarding against unauthorized manipulation and ensuring the integrity of digital content. As AI models increasingly rely on publicly available data for training, the integration of blockchain solutions can offer enhanced security and traceability, thereby bolstering trust and accountability within the AI ecosystem.

Despite the broader market’s positive momentum, with SHIB tokens registering a modest 0.69% increase in the past 24 hours, Shiba Inu’s commitment to pioneering blockchain solutions for content security and distribution remains steadfast, underscoring its dedication to driving innovation and addressing critical industry challenges.

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Bitcoin’s price surged on Thursday following the European Central Bank’s (ECB) decision to maintain interest rates, marking the fifth consecutive meeting without a change in rates.

The largest cryptocurrency by market capitalization saw a 1.5% increase over the past 24 hours, reaching $69,607 at 11:16 a.m. ET, according to data from The Block’s Price Page. This uptick in Bitcoin’s value came amidst a broader pullback in global markets, with major equity indices experiencing declines.

Despite the Dow Jones Industrial Average falling for the fourth consecutive day and the S&P 500 and Nasdaq Composite also slipping, Bitcoin managed to defy the downward trend. In Europe, the regional Stoxx 600 index and London’s FTSE also recorded losses.

The ECB’s decision to keep interest rates unchanged at historic highs, with the key interest rate remaining at 4%, the main refinancing rate at 4.5%, and the marginal lending facility at 4.75%, contributed to Bitcoin’s positive momentum. The central bank emphasized the need for further evidence of sustained inflation convergence before considering a reduction in monetary policy restrictions.

Konstantin Veit, a Portfolio Manager at PIMCO, suggested the possibility of ECB rate cuts in June if incoming data aligns with projections outlined in March. Veit anticipates cautious rate reductions of 25 basis points once initiated, with market expectations adjusting to reflect potential reductions. However, Veit emphasized the presence of risks leaning towards fewer rate cuts, citing factors such as persistent services inflation, a resilient labor market, loose financial conditions, and ECB risk management considerations.

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