Notoko Bytes: Crypto News, Fun Forecasts & Wash Sale Bust

Notoko Bytes: Crypto News, Fun Forecasts & Wash Sale Bust

Legends say that Notoko, Motoko's mischievous brother, set out to explore blockchains far and wide. But his heart always beats for ICP, his true home. Now, he shares his discoveries in "Notoko Bytes"!

Chain Chatter: Top 5 this week

⚖️ The SEC isn't exactly rolling out the welcome mat for the crypto industry. Robinhood received the latest 'Wells notice' from the regulator, indicating a potential lawsuit is on the horizon. Robinhood insists they've played nice, seeking "regulatory clarity" for years, but alas, their crypto dreams may get a rude awakening. The ongoing debate rages on – are these digital assets securities, or something entirely new? Crypto firms yearn for clear rules, while Gensler at the SEC maintains most of these assets fall under his existing jurisdiction. Meanwhile, the clock ticks and actual legislation on crypto looks less and less likely before the next big election. So, who's the next crypto firm to feel the SEC's heat?

🍿Binance's Nigerian getaway turned a tad shady! The crypto giant claims they were asked for a hefty bribe to make their problems in Nigeria vanish. Cue the dramatic plot twist: one Binance employee ends up in jail, while his colleague pulls a daring escape. Nigeria isn't buying the story, leading to a classic "he said, she said" standoff. Did Binance wander into some murky waters, or is this a major misunderstanding? Stay tuned for the courtroom drama!

🤷‍♀️Surprise, surprise! It seems stablecoins, touted as the future of payments, aren't living up to the hype. Visa's new analysis bursts the bubble, finding that a whopping 90% of stablecoin transactions are just bots and big-time traders playing around. So much for those claims of revolutionizing how we pay...🙄. Fintech giants like PayPal and Stripe are banking on stablecoins, but the data suggests they might want to hold their horses. Turns out, for everyday folks, stablecoins aren't exactly user-friendly compared to good old-fashioned payment methods (yes, even checks!). Maybe the future of payments isn't as crypto-centric as we were led to believe...

🤯 FTX story just got WILD! Turns out they've got way more cash than they need to pay back customers after that whole November mess. Like, BILLIONS more! 🎉 This almost never happens in bankruptcy cases. Thanks to a crypto rally and selling off other stuff, customers could get all their money back, plus interest! Some folks are still salty because they missed out on the big crypto price surge while they were waiting. But hey, getting your money back is pretty sweet, right? Especially after that whole Sam Bankman-Fried disaster.

🔥Germany's going next-level with finance! 🇩🇪 KfW, their big development bank, is gearing up to drop a blockchain-powered digital bond – a first for them! 🚀 They're all about that digital efficiency and think this is the future. Investors, get ready to learn something new, because KfW is bringing the crypto heat to the bond market.

Notoko Investigates: The Wash Sale Trail

I saw those Motoko Ghosts NFTs trading back and forth, and I knew something wasn't right. So, I dug deep into the blockchain, back to the early days of the ICP World when the first Motoko walked the Canister. Now, I am gonna expose those potential sneaky wash sales! But it's possible that I could be wrong, and they are real sales...

Around 1400 Motoko Ghosts were sold 2 times, Over 800 Ghosts were sold 3 times, and so on...

Number of times a Motoko Ghost was sold, data as of May 7, 2024

7651 (Motoko Ghost tokenid) were sold 11 times! If 7651 could talk, it'd probably ask for a vacation. 😅

Motoko Ghosts Token 7651 were sold 11 times

AI Fortune Teller: Report Card

Last week, Our team played fortune teller with a fancy AI model (LSTM) to guess ICP prices. Just for kicks, so don't bet the farm on it. The results are in.. 🔎

May 213.5013.37
May 313.6213.58
May 413.1613.72
May 512.9913.81
May 612.7913.85
May 712.4213.88

So Team's super-smart AI model was crushing it with those early predictions...almost TOO good to be true! But then, BAM! Crypto did what crypto does best – went totally haywire. Looks like our model needs a little break from the rollercoaster. From now on, let's stick to shorter forecasts – three days max. Who knows what the crypto universe will throw at us next! 😉

Don't Bet the House: 3-Day ICP Forecast (By Our Slightly Confused AI)

Let's see what our techy fortune-teller predicts for the next three days of ICP prices. Remember, it's all for fun – don't make any big bets based on this!

Prediction as of May 8,2024

For the stats enthusiasts: Feast your eyes on the error metrics and evaluation results. 👀 Read this

That's a wrap! See you next week for more byte-sized blockchain fun (and a sprinkle of ICP love).


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