Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. North Korean Hackers Target LinkedIn Users: The Lazarus hacker group, associated with North Korea, targets LinkedIn users, posing as blockchain developers to orchestrate targeted malware attacks.

2. DOJ Targets Privacy Advocates: The U.S. Department of Justice arrests and charges the founders of Bitcoin mixer Samourai Wallet with conspiracy to commit money laundering, sparking outrage among privacy advocates.

3. Banks Eye Stablecoin Market: The introduction of the Lummis-Gillibrand Payment Stablecoin Act in the U.S. Senate prompts speculation about its impact on the stablecoin market.

4. 💡Feature of the Day - Coca-Cola Bets on AI: Coca-Cola partners with Microsoft to leverage artificial intelligence (AI) technologies for innovation and digital transformation.

5. 📈 Technical Analysis Masterclass - Are you curious about why the market is acting weird after the Bitcoin Halving event? Watch UseTheBitcoin’s in-house technical analysis expert Ray “Why Is the Crypto Market Down Today?” YouTube video to learn everything that’s been happening in crypto lately!

   
   All this and more in today’s headlines!

📰 News Highlights:

👾 North Korean Hackers Target LinkedIn Users [Source][Source]

The infamous Lazarus hacker group, known for its sophisticated cyberattacks and ties to North Korea, has once again made headlines for its nefarious activities. This time, the group is utilizing LinkedIn, the professional networking platform, as a gateway to target unsuspecting users and orchestrate targeted malware attacks.

According to reports from blockchain security analytics firm SlowMist, Lazarus hackers are masquerading as blockchain developers seeking employment opportunities in the cryptocurrency industry.

Through LinkedIn, they lure potential victims into granting access to their repositories under the guise of reviewing code snippets or collaborating on projects.

This isn't the first instance of Lazarus leveraging social engineering tactics for its cybercriminal endeavors. In December 2023, the group posed as a fake recruiter for Meta, employing similar tactics to distribute malware-laden coding challenges to unsuspecting victims.

⚖️ DOJ Targets Privacy Advocates [Source][Source][Source]

In a controversial move that has sparked outrage among privacy advocates, the U.S. Department of Justice (DOJ) has arrested and charged the founders of Bitcoin mixer Samourai Wallet with conspiracy to commit money laundering.

Keonne Rodriguez and William Lonergan Hill stand accused of operating a cryptocurrency mixer responsible for facilitating over $2 billion in illicit transactions, including money laundering activities associated with dark web markets.

The indictment alleges that Samourai Wallet provided a haven for criminals seeking to obfuscate the origins of their funds, enabling large-scale money laundering and sanctions evasion.

The arrest of Rodriguez and Hill has reignited debates surrounding the balance between privacy rights and law enforcement imperatives in the digital age. Advocates, including renowned whistleblower Edward Snowden, have condemned the DOJ's actions, warning of the chilling effect on innovation and the broader implications for financial privacy.

💼 Banks Eye Stablecoin Market [Source][Source][Source]

The introduction of the Lummis-Gillibrand Payment Stablecoin Act in the U.S. Senate has sparked speculation about the potential impact on the stablecoin market and the broader financial landscape.

According to S&P Global Ratings, the proposed legislation could incentivize banks to enter the stablecoin space, presenting both opportunities and challenges for industry stakeholders.

By imposing issuance limits on non-bank stablecoin issuers and mandating reserve requirements, the bill aims to enhance regulatory oversight and mitigate systemic risks associated with stablecoin issuance. However, it also creates a competitive advantage for banks by limiting non-bank entities' ability to issue stablecoins beyond a certain threshold.

💡 Feature of the Day: 

🤖 Coca-Cola Bets on AI [Source][Source][Source]

Coca-Cola's ambitious partnership with Microsoft to harness the power of artificial intelligence (AI) represents a bold step towards innovation and digital transformation. With a commitment of $1.1 billion to leverage Microsoft's cloud capabilities and generative AI technologies, Coca-Cola aims to revolutionize various aspects of its business operations.

From enhancing customer experiences to streamlining operations and improving workplace productivity, the integration of AI promises to unlock new opportunities for growth and efficiency.

The collaboration between Coca-Cola and Microsoft underscores the growing importance of AI in driving business innovation and delivering tangible value to stakeholders. As both companies embark on a journey of experimentation and exploration, the potential for transformative breakthroughs in AI-driven marketing, supply chain optimization, and consumer engagement is boundless.

📈Technical Analysis Masterclass:

📉 Why Is the Crypto Market Down Today? 📉

Recent events, including the arrest of Samourai Wallet founders, have led to a stumble in the crypto market.

Samourai Wallet Arrest:

• The arrest of Samourai Wallet CEO and CTO by the US Department of Justice for money laundering conspiracy and operating an unlicensed money transmitting business caused market turbulence.

• Samourai Wallet is known for its privacy-focused Bitcoin mobile software wallet.

Market Reaction:

• Investor withdrawals ensued, resulting in a 3-4% drop in Bitcoin's price to $63,700 and a 2-3% drop in Ethereum's price to around $3,100.

• Other cryptocurrencies like PEPE, Shiba, and Dogecoin also experienced temporary decreases in value, with PEPE down by 8%, Shiba by 7%, and Doge by 6 to 7%.

Liquidations and Market Tension:

• Significant losses occurred in long positions across the crypto market, with $37.08 million worth of long positions liquidated in Bitcoin alone.

• The market decline coincided with tension in the Middle East, particularly Israeli military action against Hezbollah in Southern Lebanon.

Post-Halving Instability:

• The events followed the Bitcoin halving, which was expected to cause short-term instability.

• Some experts predict that the next major price rise may not occur until late 2025.

Investors should remain cautious and stay informed about developments that may impact market sentiment. Watch the full video of UseTheBitcoin’s in-house technical analysis expert Ray “Why Is the Crypto Market Down Today?” to learn more!

😂 Crypto Meme of the Day: 

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com