😅 Dubai unveils plan to build 40 storied bitcoin tower!

Welcome to Coinsauce's Crypto Wavebreak 🌊 We bring you the latest news, stories, and trends from the ever-evolving world of cryptocurrencies, all condensed into a quick, compact and witty newsletter. Let's dive straight in!

Trending Today 👇️ 

1. 🇭🇰 Breaking Barriers: Hong Kong to allow retail investors to access licensed crypto exchanges.

2. 🏦 Skyline Goals - Dubai developer to build the world's first Bitcoin Tower.

3. Not Again - Court documents reveal plans to reboot FTX exchange.

Hong Kong pushes for retail-friendly crypto regulation ❗️ 

Hong Kong, home to over 7 million people, is breaking down the barriers and inviting retail investors to the crypto world! The city's securities watchdog, the SFC, has unveiled plans to grant access to virtual asset platforms, giving everyday investors a taste of the crypto action.

The forthcoming guidelines aim to cover everything from asset custody safety to cybersecurity standards and the protection of client assets and will go into full effect in June 2023.

As a result of this, the “Chinacoin narrative” is back in full swing yet again, with many tokens that are available to be traded on Chinese exchanges soaring in price over the past 24 hours 👇️ 

However, as of now, no virtual asset trading platform has been given the green light just yet. During the consultation period, the SFC received a whopping 152 submissions from industry insiders. This highlights the commitment of web3 firms to play by the rules.

With Hong Kong's vibrant spirit coursing through its veins, it looks like the city is all set and poised to redefine the boundaries of financial exploration!

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A Towering Tribute 🏨 

Dubai's skyline just got a whole lot more intriguing! A UAE-based developer has unveiled plans to build a 40-story hotel chain in the shape of Bitcoin. This towering symbol of the world's most famous cryptocurrency aims to celebrate the values that Satoshi Nakamoto introduced to the world and bridge the gap between digital and physical assets ❗️ 

The futuristic hotel plans on fully embracing cutting-edge technologies like AI and blockchain to prioritize material sustainability. They also plan on rewarding guests with NFTs, allowing holders to enjoy exclusive perks and benefits.

And that’s not all! The rental fee won’t just be an expense; it would be an opportunity for crypto staking. Guests can effectively turn their stay into an investment by claiming an APY on their payment!

Let’s hope that the 40-storied tower literally takes Bitcoin adoption to new “heights” 😅 

FTX eyes a comeback 👀 

In a recent court filing on May 22, it seems that FTX, the trading platform, is gearing up for a comeback 🙈 

The bankruptcy lawyers representing FTX have submitted a compensation report that suggests the process of reopening the platform is nearing completion.

FTX CEO John Ray III, in charge of overseeing the bankruptcy proceedings, listed several line items in his billable hours that seemed to imply this was the case. Included in this list was a term sheet for structuring the exchange, reviewing the FTX 2.0 next steps summary and finalizing material related to the reboot for distribution. Incidentally, the final item on Ray’s list of billables was a review and comment on the FTX 2.0 bidder list.

The news sent the $FTT token soaring over 15%, making speculators scramble to cash in on the rumoured resurrection. As of now, the fate of the defunct exchange still hangs in uncertainty. Regardless, one undeniable reality remains: Rebuilding trust among users will be an uphill battle for FTX, demanding their utmost dedication, honesty and effort 🙏 

Meme of the day

TURN ON THE MONEY PRINTER!! 🤣 

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And that’s a wrap for today’s daily roundup! Thank you for subscribing to our newsletter. Stay tuned because we'll keep you in the loop with all the crypto rollercoaster's highs, lows, and wild twists! Until next time, keep studying Bitcoin!

Disclaimer: This newsletter is educational and does not constitute financial advice. You must exercise caution and conduct your research before making any financial decisions.