Welcome to the Ghostfi™ Newsletter, Bringing you the latest crypto news before Satoshi can even mine a block.

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Here’s what we have for you today:

• Unveiling BlackRock's Hidden Influence in Sparking the Upcoming Bitcoin Bull Market

• Coinbase Goes to Court Against the SEC

• Resurfacing of Pre-100X Litecoin Indicator Following a Six-Year Downturn

• Akai Token's Incineration of 804 Million $SHIB Causes Shiba Inu Burn Rate to Surge by 8,900%

• Crypto Rookies’ Corner

Unveiling BlackRock's Hidden Influence in Sparking the Upcoming Bitcoin Bull Market

BlackRock, the finance giant, wants to create a spot Bitcoin ETF in the U.S. How exciting! Everyone's buzzing about whether they have a better chance of approval than the previously rejected ones. But wait, what's this? They've included a mechanism to flag suspicious trades to the authorities.

Following BlackRock's lead, other filings with the ubiquitous Surveillance-Sharing Agreement (SSA) started pouring in. But let's not get too excited. The U.S. Securities and Exchange Commission (SEC) will likely pay more attention to the information-sharing deal that gives regulators the upper hand and the right to demand additional background information. Oh, how delightful!

Sure, the SEC has been yammering about surveillance sharing for years, dating back to the Winklevoss Bitcoin ETF application in 2017. But the real juicy details come from the "Coinbase and NASDAQ Information Sharing Term Sheet." Fancy, right?

Now, pay attention to the difference between push and pull. The SSA deals with data surveillance pushed from Coinbase, the spot exchange, to regulators, ETF providers, and listing exchanges if anything seems fishy. But information-sharing agreements, well, they allow regulators and ETF providers to pull data from the exchange. Isn't that just marvelous?

And get this, the information shared could include specific trades or traders, even personally identifiable information (PII) like their names and addresses. Oh, the joy of transparency! Of course, they'll have to make specific requests, like subpoenas, or something. Can't have them going on a fishing expedition, you know?

Nasdaq and Coinbase aren't saying a word, and BlackRock is conveniently avoiding requests for comment. How mysterious!

Anyway, the SEC has been blabbering about surveillance-sharing agreements with regulated markets for ages, but nobody really knows what they mean. So, adding a information-sharing deal is a smart move because, you know, it's better to rely on a regulated market than an unregulated one. Clever, clever!

If brokers and exchanges in equities markets can do it, why not in the crypto world too? They can file suspicious activity reports (SARs) and even identify the same "beneficial owners" behind certain trades. How impressive!

But wait, here's the real kicker. If all goes well with this ETF and the SEC approves it, they'll take a victory lap. Oh, what a glorious moment for the SEC! They must be dying to do something popular for once. Good for them!

Now, let's wait and see how this thrilling ETF saga unfolds. Will BlackRock triumph? Will the SEC bask in its victory? It's a nail-biting waiting game, my friends.

Coinbase Goes to Court Against the SEC

Coinbase (COIN) and the Securities and Exchange Commission (SEC) are heading to court this week. Oh, the joy! We might get some hints about the case's direction, at least for now.

So, here's the scoop. Coinbase and the SEC will finally have their moment in court. Brace yourselves for the beginning of a long legal battle unless they settle it like Ripple Labs, which is still fighting its case after three years. But hey, let's read some tea leaves and obsess over the questions Judge Katherine Polk Faila will ask and how the SEC and Coinbase attorneys will respond. Who knows, maybe we'll see a glimmer of the future.

Here's the rundown: Coinbase got slapped with a lawsuit by the SEC in June. The SEC claims that Coinbase acted as a broker, an exchange, and a clearinghouse for unregistered securities, the cheeky 13 cryptocurrencies that supposedly fall under the Howey Test. Coinbase knew this was coming and even wrote a blog post about it when it received a Wells Notice. They're arguing that the crypto industry is swimming in regulatory uncertainty, so how are they supposed to know if they're breaking any securities laws?

Last month, Coinbase fired back at the SEC, accusing them of violating due process rights and trying to outshine Congress with this lawsuit. They even said the allegations don't apply to them because, well, reasons. But surprise, surprise, the SEC wasn't impressed. They called Coinbase out for trying to create its own rules and dismissed their argument. The SEC also reminded everyone that Coinbase knew this was coming because they publicly acknowledged the possibility of a lawsuit. Oh, and the SEC didn't appreciate one of Coinbase's filings and wants the judge to ignore it. Drama, drama, drama.

In the end, we'll just have to wait and see how this courtroom spectacle unfolds. Will Coinbase emerge victorious? Will the SEC have its way? Stay tuned, folks. It's going to be a wild ride.

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Resurfacing of Pre-100X Litecoin Indicator Following a Six-Year Downturn

Litecoin price continues to hover below the $100 mark, trapped within a monotonously tight trading range. The complete absence of any thrilling volatility in LTCUSD lately is reminiscent of the uneventful period in late 2016 and early 2017, right before an extraordinary 100x rally occurred.

Now that this remarkable signal has made a comeback, should we brace ourselves for another monumental surge?

Rejoice! The Pre-100x Litecoin Signal Has Returned Of course, we all know that past performance is no guarantee of future results, but who can resist the allure of technical analysis and its quest for signals and patterns from the annals of history? After all, it increases the chances of success, right?

Rest assured, though, that after a prolonged spell of tedium, volatility will burst back onto the scene with a bang, catapulting Litecoin into a highly unpredictable state. And given the inherent volatility of the crypto market, we're in for some truly seismic movements.

In fact, the last time Litecoin experienced such abysmally low volatility, it was merely a prelude to an astonishing 100x surge. In less than a year, LTCUSD skyrocketed from $3 to over $300.

Now, that very same signal has made its grand return, heralding the potential for another monumental leap in Litecoin's price. But, let's not jump to conclusions—it doesn't necessarily mean an upward trajectory.

It's Been a While Since the Bulls Had Their Turn The signal we're referring to is none other than the 9-day Bollinger Bands and Bollinger Band Width, which currently boast the second tightest range in Litecoin's history.

For the uninitiated, Bollinger Bands are tools used to measure volatility, employing a simple moving average and two bands set at two standard deviations. They expand during periods of high volatility and contract during periods of low volatility. It's during these low volatility phases, aptly referred to as "squeezes," that we witness a dramatic turn towards jaw-dropping volatility. But remember, volatility is merely a measure of price dispersion over a specific timeframe.

This means that when the much-awaited major move finally occurs, it could go either way—downwards being a distinct possibility. However, don't lose hope just yet, as several other technical indicators suggest a potential price surge in the future. In essence, remaining stuck in this state of stifling volatility for much longer is simply not an option. So, fasten your seatbelts, folks, because things are about to get captivating sooner than you think.

Moreover, Bollinger Band Width has been progressively narrowing with lower highs for a staggering six years. If this downtrend pattern is disrupted, we may witness the most significant price movement in half a decade. Brace yourselves!

Akai Token's Incineration of 804 Million $SHIB Causes Shiba Inu Burn Rate to Surge by 8,900%

In a truly groundbreaking turn of events, the burn rate of the immensely original meme-inspired cryptocurrency Shiba Inu ($SHIB) has experienced a surge. All thanks to the ingenious minds behind the Akai Token project ($AKAI), who orchestrated a magnificent display of moving a whopping 804 million tokens to a dead wallet, setting off what can only be described as a historic burning frenzy.

According to recently revealed data, the Akai Token project has valiantly destroyed over $9000 worth of the circulating supply of this extraordinary meme-inspired cryptocurrency. This astonishing act has propelled the burn rate to soar by an astonishing 8,900% in the span of a mere 24 hours. A true marvel of modern finance, if you ask me.

The Akai Token's token burn began with a relatively minuscule transaction involving a mere 310,000 SHIB tokens. But fear not, for they didn't stop there. They proceeded to unleash an overwhelming torrent of 800 million tokens through a staggering 100 individual transactions on the network. Bravo, Akai Token, bravo!

In their grand plan, as elegantly outlined on the Akai Token's official website, they have introduced a 4% levy on all purchase and sale transactions of their native token, AKAI. This tax is then cleverly divided, with a generous 2% dedicated to burning SHIB tokens, while the remaining 2% funds their noble marketing endeavors. How noble indeed!

This remarkable burning extravaganza has propelled an astounding surge of 8,991.55% in the overall burn rate in the past 24 hours alone. A feat that will surely be etched in the annals of cryptocurrency history.

As if that weren't enough, the meme-inspired cryptocurrency has been on a meteoric rise over the past few months. Reports indicate an explosive growth in daily new addresses on the network during the second quarter of the year. How inspiring!

Let us not overlook the momentous achievement of the Shiba Inu ecosystem with the testnet for its layer-2 scaling solution, Shibarium's Puppynet, reaching a remarkable milestone of 25 million transactions. Such progress deserves a standing ovation!

In conclusion, the Shiba Inu community continues to push boundaries, striving for greatness even as their token runs on the Ethereum network, which admittedly has a few scalability and transaction throughput limitations. But fear not, for they will overcome all obstacles in their quest for glory!

💰 Crypto Rookies’ Corner 📈

DeFi Explained

Phantom Press

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.TBA