Good morning, crypto crusaders! Welcome to the Coinsauce Daily Digest 🗞️, your go-to source for all things crypto. Whether you're hodling for dear life or just dipping your toes into the world of crypto, we've got the latest news, insights, and trends to keep you ahead of the game. So grab a bagel 🥯, pour yourself some coffee ☕, and let's get started!

Here are the top highlights of the past 24 hours 👇

1. Privacy invasion? Elon Musk reveals all about USA Government's access to user activities 👀

2. Bhutan's hidden treasure: The surprising truth behind the Kingdom’s crypto holdings 😯

3. Regulatory woes continue Bittrex exchange sued by the SEC 😪

Time to dive in and have a closer look at each of them!

Elon Musk drops another truth bomb 🚨

Another day, another truth bomb from Elon Musk...💣 After reaffirming AI's potential to destroy civilization, Elon Musk exposed the US government's ability to access almost everything on the website, including any Twitter user's private DMs! 😱 Turns out, multiple government agencies had full access to everything on the social media platform. 💻🔍

In Musk's own words, "The degree to which various government agencies effectively had full access to everything that was going on on Twitter blew my mind. I was not aware of that." 😮

This shocking revelation was made through a teaser clip shared by Tucker Carlson for his show on Fox News next week. Stay tuned for more updates! 📺

Bhutan’s sovereign wealth fund secretly held millions of dollars in cryptocurrency 🔍

Bhutan's got some crypto skeletons in its closet ❗ Recent documents revealed that the country’s $2.9 billion sovereign investment arm (Druk Holding & Investments) was a customer of infamous crypto lenders BlockFi and Celsius, which it never publicly disclosed. 😲 The wealth fund operates more like a state-owned enterprise and oversees 21 domestic companies.

In a series of revelations, BlockFi accused the fund of defaulting on its repayment of a $30 million USDC loan borrowed in February 2022. The lender alleged that Druk failed and refused to repay the loan in full, even after a liquidation of 1,888 BTC (worth $76.5 million at the time of the loan), leaving an unpaid balance of $820,000 🙈

Months earlier, the wealth fund was also outed as an institutional customer of Celsius. Records showed that Druk Holding & Investments withdrew more than $65 million and deposited nearly $18 million in digital assets in a span of 3 months between April & June 2022, just before Celsius petitioned for bankruptcy in July 😅

Wealth managers have speculated for several years that government-backed funds are beginning to buy up the cryptocurrency, and if the investment arm is indeed part of the nation’s sovereign wealth fund, it would appear to be the first to directly own crypto ✅

Regulatory challenges continue to mount for crypto exchanges 🔍

In the latest in a string of regulatory actions taken by U.S. agencies policing the crypto space, Bittrex is the latest exchange to have made the headlines 😓 The SEC has filed a lawsuit against the firm, alleging that it was operating as an unregistered national securities exchange, broker, and clearing agency. They were also accused of taking steps like instructing issuer-applicants to delete statements related to price predictions, the expectation of profit, etc, to avoid regulatory scrutiny.

Ironically, this lawsuit comes just one month after the exchange announced its intention to shut down 🚫 its US operations due to lack of regulatory clarity, dwindling trading volume, and economic inviability!

The SEC's recent actions against multiple crypto exchanges and projects demonstrate their firm intention to regulate the cryptocurrency industry and ensure compliance with federal securities laws. One thing is for sure this time around — The SEC means business 🙏

Meme of the day

Developer’s loyalty when he finds out there is a $1 million bounty for reporting a bug in a DAO 😂

That’s all for today! Thanks for tuning in to Coinsauce's Daily Crypto Roundup 💪 Stay on top of the latest news and trends in the crypto world by subscribing to our newsletter and following us on social media. Remember, the crypto market never sleeps, so keep hodling and stay saucy! 🙏

Disclaimer: This newsletter is for educational purposes only and does not constitute financial advice or an offer to buy or sell assets. You must exercise caution and conduct your research before making any financial decisions.