120332
We post daily the best Bitcoin, Cryptocurrency & Blockchain News. Admin: @LevoBNTG
🇧🇪 Binance Was Ordered To Stop Service Immediately In Belgium
According to a Friday notification, Belgium’s Financial Services and Markets Authority (FSMA) has ordered the troubled cryptocurrency exchange Binance to immediately stop servicing local consumers. Binance is marketing and delivering exchange services in Belgium between virtual currencies and legal currencies, as well as custodial wallet services, from nations that are not members of the European Economic Area, according to Belgium’s top markets regulator.
This comes at a time when Binance Global and Binance.US are embroiled in legal issues. On June 5, the US Securities and Exchange Commission filed a complaint against the exchange, alleging 13 different things. According to one of the lawsuit’s accusations, monies from these companies were combined into an account managed by Merit Peak Limited that included Changpeng Zhao. After that, the cryptocurrency market began to tremble. Binance.US also had issues after delisting more than 100 trading pairs from the Advanced Trading interface and discontinuing the OTC service. Simultaneously, the values of BTC, ETH, and BNB on the platform started to diverge from the global average.
Source
/channel/Bitcoin_NewsTg
💰 Bitcoin Illiquidity Indicates Strong Investor Interest in Crypto
According to Glassnode’s Bitcoin illiquid supply change metric, the number of bitcoins held by illiquid wallets has been increasing rapidly over the past few weeks. As of Monday, there were 147,351.58 BTC ($3.9 billion) held by illiquid wallets, the highest since December 19. The total number of bitcoins held by illiquid entities has reached a record high of 15,207,843 BTC, with an increase of 215,000 BTC in the past four weeks alone.
This data suggests that investors are confident in bitcoin’s long-term prospects, despite the economic uncertainty and regulatory risks. In fact, the flow of bitcoins into illiquid wallets suggests that there is a gradual and steady accumulation taking place. Glassnode analyst James Check notes that the market is “in a period of quiet accumulation, which suggests an undercurrent of demand, despite the regulatory headwinds of late.”. Last week, the U.S. Federal Reserve kept interest rates unchanged, which is partly responsible for last year’s crypto market decline. However, the bank ruled out rate cuts this year while keeping the doors open for more increases if required.
Source
/channel/Bitcoin_NewsTg
🪙 Justin Sun Donates 10,000 TUSD To Independent On-chain Detective ZachXBT
Famous crypto player Justin Sun has announced he will donate 10,000 TUSD to crypto detective ZachXBT as he faces a defamation lawsuit. An hour ago, Justin Sun, founder of TRON and a Huobi’s Global Advisory Committee member, announced on Twitter that he would be donating 10,000 TUSD to ZachXBT. Sun said that while he is not a legal expert himself, he takes Zach’s significant contribution to blockchain security very seriously.
It is reported that today NFT trader MachiBigBrother (Huang Licheng or Jeffrey Huang) sued independent blockchain detective ZachXBT for defaming MachiBigBrother for manipulating the cryptocurrency market and embezzling 22,000 Ethereum, worth tens of millions of dollars. la. The lawsuit seeks damages and reimbursement of legal costs. Zach responded on Twitter that the lawsuit is baseless and stifles freedom of expression. At the same time, the on-chain detective launched a public donation to raise $1 million to help pay for legal fees related to the defense of the case. the relevant donation addresses have received hundreds of thousands of dollars worth of crypto donations.
Source
/channel/Bitcoin_NewsTg
Join now with just 1 Click All important Crypto Channels:
/channel/addlist/1H7No7OFbZE2YzVk
📣 Bankrupt Crypto Lender Genesis Revised Chapter 11 Plan As The Negotiations Continue
According to a Tuesday court filing, bankrupt crypto lender Genesis has submitted an amended wind-up plan. At the same time, mediated negotiations on the monies due by parent firm Digital Currency Group (DCG) continue. The amended restructuring plan reflects strong consensus on some important areas, according to the filing, although Genesis, its creditors, and other stakeholders retain their position in continuing discussions.
The plan states that DCG and insolvent hedge fund Three Arrows Capital (3AC) claims are challenged and impaired, implying that creditors would not get the full amount of their claims. As Coincu reported, 3AC has sought to join in Genesis’ bankruptcy mediation process. DCG claims would be treated like other unsecured creditors but will not get any revenues from debts still owed by the parent company, according to the agreement. DCG said in January that it owes Genesis Capital $526 million, due in May 2023, and $1.1 billion on a promissory note due in June 2032. The complaint said that claims linked to the insolvent crypto exchange FTX and its sibling trading arm Alameda Research.
Source
/channel/Bitcoin_NewsTg
📣 21Shares Makes It Easy For Users To Access Liquid Staking On LidoDAO With New ETP
21Shares, a supplier of crypto exchange-traded products (ETP), has offered a mechanism for conventional investors to obtain exposure to the LidoDAO, providing single-asset exposure to the biggest player in the liquid-staking ecosystem. This offering, according to the company, provides investors with a first-of-its-kind single asset exposure to Lido DAO, the market-leading liquid staking solution for different Proof-of-Stake (PoS) blockchains including Ethereum, Polygon, and Solana.
The objective of Lido is to make staking easy, safe, and decentralized. It does this by allowing users to stake their assets in exchange for an equivalent quantity of staked tokens (stTokens), which accumulate staking incentives. These stTokens may subsequently be exchanged on the secondary market and employed in DeFi apps, a method is known as liquid staking. Liquid staking enables users to reap the advantages of staking without having to deal with lock-up periods or large minimum staking quantities, which may put staking out of reach for many ordinary investors. Investors may obtain exposure to the expansion of liquid staking via an ETP that is fully collateralized and has institutional-grade security and custody solutions with the 21Shares Lido DAO ETP.
Source
/channel/Bitcoin_NewsTg
📣 DeFi Liquidation Volume Surpasses $11 Million, Highest Since May 12
According to data from Parsec, the decentralized finance (DeFi) market has witnessed a surge in liquidation volume, reaching over $11 million today. The data, obtained from the Parsec platform, highlights the critical thresholds at which various collateral assets face liquidation. According to DeFiLlama data, if the price of Ethereum (ETH) falls to $1,753, approximately $83.5 million worth of stETH collateral will face liquidation. Furthermore, if ETH drops to $1,681, more than $26 million in ETH collateral will be at risk of liquidation.
The Parsec platform, known for its comprehensive analytics and insights, provides market participants with valuable information to monitor and assess these risks. Traders and investors can utilize such data to make informed decisions regarding their DeFi activities and take necessary precautions to mitigate potential losses. These figures serve as a stark reminder of the volatility inherent in the cryptocurrency market and the risks associated with decentralized financial protocols. When asset prices experience significant declines, borrowers who have leveraged their collateral face the threat of liquidation as their positions fall below specified thresholds.
Source
/channel/Bitcoin_NewsTg
🟠 Binance To Promote Against Cybercrime In Taiwan
Binance held a one-day training event in Taipei on June 8 in partnership with Taiwan’s Criminal Investigation Bureau (CIB). The program is planned and delivered by professionals from Binance’s Law Enforcement Training and Investigative team, and it will be attended by over 200 law enforcement personnel, both on-site and digitally. This engagement is part of our larger effort to tackle cybercrime in conjunction.
The program included a variety of themes, such as cryptocurrency-related crime trends, research tactics, and case studies of the exchange’s partnership with law enforcement organizations to combat cybercrime. Binance is also now having issues with American authorities. The US Securities and Exchange Commission sued the exchange and its billionaire founder, Changpeng Zhao, charging that they conspired to recruit American consumers to their unregulated foreign exchange, mixed investor money with their own, and violated securities laws. The 13 allegations follow the CFTC’s earlier this year filing of a similar case against the company and Zhao.
Source
/channel/Bitcoin_NewsTg
🟠 Binance Endures $69M in Net Outflows Within an Hour, Amid SEC Charge: Nansen
Cryptocurrency traders are withdrawing funds from crypto exchange Binance as the U.S. Securities and Exchange Commission (SEC) sued the company and its CEO Changpeng “CZ” Zhao for violating federal securities law on Monday. Blockchain data shows that the exchange endured some $69 million in net outflows over the past hour, according to blockchain intelligence platform Nansen.
Traders have withdrawn some $125 million of digital assets during this period, compared to the $56 million in deposits, per Nansen. The data excludes bitcoin (BTC) transfers. The outflows came as the SEC lawsuit alleged that Binance, the world’s largest crypto exchange by trading volume, had breached multiple federal securities laws. The suit said that Binance offered unregistered crypto securities including BNB and BUSD tokens to the general public and allowed for commingling of customer funds. The SEC also alleged that CZ, the company’s chief executive officer, was “secretly” in control of Binance.US.
Source
/channel/Bitcoin_NewsTg
📣 Worldcoin Is Creating Excitement From Crypto Community
OpenAI CEO Sam Altman’s Worldcoin recently raised $115 million in venture capital. This substantial fundraising has made the project the subject of recent community discussion. Worldcoin’s key features, including its retina-scanning device and token offering, despite raising unsettling ethical and financial questions, but there are also crypto traders excited about the event. Altman’s creative concept is creating a lot of buzz and spreading swiftly on social media.
Hundreds of thousands of users have already performed the compulsory iris scan to become part of Worldcoin, indicating that the launch of Worldcoin is gaining traction among crypto traders and investors. With Worldcoin, the goal is to create a worldwide system for identification in order to launch the cryptocurrency of the same name. Worldcoin’s creators promote the project as the world’s biggest identification and financial network. The token will be released this year. The Worldcoin has been under testing since 2022 and will be formally introduced in the summer. Another significant milestone was the recent Series C investment.
Source
/channel/Bitcoin_NewsTg
🟠 Binance Australia Now Officially Stopped Supporting AUD Through Bank Transfers
Binance Australia has officially confirmed that Australian users will no longer be able to deposit and withdraw Australian dollars (AUD) through bank transfers. From June 1, the exchange has halted all AUD trading pairs. Users may change their Australian dollar balance into USDT to ease withdrawal and trading operations after June 1. Customers may still purchase and trade cryptocurrencies using credit or debit cards, and Binance Australia’s P2P marketplace will continue to function normally.
Notwithstanding these changes, Binance Australia is dedicated to offering other ways for users to participate in crypto transactions and to ensuring the protection of user money via the Safe Asset Fund for Users (SAFU). Binance Australia, one of the region’s largest cryptocurrency exchanges, has released a significant statement on adjustments to its services. The platform previously regretted notifying its consumers that AUD deposits and withdrawals by bank transfer would no longer be possible as of June 1. PayID deposits in Australian dollars have been blocked owing to third-party payment providers, bank transfer withdrawals will also be impacted, and attempts are being made to locate alternative suppliers, according to Binance’s Australian affiliate.
Source
/channel/Bitcoin_NewsTg
🟠 Binance Now Proposes Bank Custody For Trading Collateral To Mitigate Risk
According to Bloomberg, Binance is considering allowing some of its institutional clients to keep their trading collateral at a bank instead of on the crypto platform, which could help reduce counterparty risk. The world’s largest crypto exchange has spoken to some of its professional customers about a setup enabling them to use bank deposits as collateral for margin trading in spot and derivatives. Swiss-based FlowBank and Liechtenstein-based Bank Frick have been mentioned as potential intermediaries for the service.
Institutional digital-asset traders have been pressing for change after the abrupt collapse of FTX late last year left many with huge losses. Crypto exchanges operate differently than traditional finance in that they not only facilitate trading but also keep assets in custody, settle transactions, and offer credit, increasing the risk of widespread pain should they fail. Safe custody and segregation of client assets have also been the focus of Asian and European regulatory proposals, while Nasdaq Inc., Bank of New York Mellon Corp., and Fidelity Investments offer or build crypto custody solutions for institutions. According to sources, the proposed setup hasn’t been finalized and could change.
Source
/channel/Bitcoin_NewsTg
💰 Arthur Hayes predicts volatile 2023 followed by strong bitcoin rally
Former Bitmex CEO Arthur Hayes, who now runs a family office called Maelstrom, doesn’t see bitcoin breaking new highs this year — but is bullish from 2024 onward. As for his comment on Armageddon, he explained that he’s referring to more of a societal change, such as a major war. He pointed to quantitative easing and social discontent as two factors that would lead to such an event. Bitcoin Did podcast, pointing toward bitcoin’s halving event in 2024 as a key event.
“With the banking crisis — and you have the federal government issuing trillions of dollars of debt because they need to fund themselves — you’re basically putting this powder keg together of a situation that’s going to be exploding in Q3/Q4 of this year and so why ultimately I think it could be quite good for bitcoin. It will be quite volatile on the upside and the downside,” he said. As for Hayes’ own investment strategy during this time, he mentioned that Maelstrom was making some plays with respect to ether staking and that it was taking a hard look at the emergence of NFTs on Bitcoin, known as Ordinals.
Source
/channel/Bitcoin_NewsTg
🟠 Binance Is Leaving Australia Now Because of Tough Policies
Binance, the world’s biggest centralized crypto trading venue and crypto exchange by trading volume, has announced the delisting of many crypto-to-AUD (Australian dollar) spot trading pairings on June 1. According to an official notification made by the team on May 26, the ADA/AUD, AUD/BUSD, AUD/USDT, BNB/AUD, BTC/AUD, DOGE/AUD, ETH/AUD, GALA/AUD, MATIC/AUD, SOL/AUD, and XRP/AUD pairings will be delisted on June 1, 2023, at precisely 06:00 (UTC).
Binance has announced that it would discontinue service for many BTC, AUD, and altcoin pairings on its spot trading platform. Recently, the Australian branch of cryptocurrency exchange Binance faced a setback as the local platform lost access to several Australian dollar deposit services and warned of bank transfer withdrawal disruptions. Binance Australia did not explain why it was prohibited or when the interim suspension of the service would be removed. Instead, the exchange said that it was looking for an alternative. It also recommended Binance Australia customers utilize its peer-to-peer marketplace instead. the country’s second-largest retail bank, has prohibited clients from trading with Binance.
Source
/channel/Bitcoin_NewsTg
📣 Layer 1 blockchain Vega Protocol activates on-chain futures after mainnet rollout
Vega Protocol, a Layer 1 blockchain focused on derivatives trading, has launched its first on-chain markets following the release of its alpha mainnet earlier this month. The project's community members approved an on-chain governance vote to kickstart trading and take its markets live. This community vote also greenlit the use of the USDC and USDT stablecoins for deposit and withdrawal operations through an interoperability bridge with Ethereum.
From today, Vega Protocol will offer users the ability to create decentralized and permissionless markets. To start with, the network will only support cash-settled futures markets but it has plans to add spot, perpetual, and other types of markets in future stages. Beyond its trading capabilities, the core team plans to introduce a browser wallet, allowing users direct in-browser access to the full Vega ecosystem. Additionally, the team plans to incorporate a software feature named Wendy, designed to provide Miner Extractable Value (MEV) protection to on-chain traders. After an extensive research and development phase spanning nearly five years, Vega launched on mainnet on May 10.
Source
/channel/Bitcoin_NewsTg
💰 Bitcoin Miner Core Scientific Files For Chapter 11 Bankruptcy Plan
Core Scientific has filed a Chapter bankruptcy 11 plan, demonstrating its determination to restructure its operations while meeting its creditors’ demands. The plan was filed in the Southern District of Texas Houston Division of the United States Bankruptcy Court. The proposal was discussed with key stakeholders, and the company is trying to generate as much agreement as possible on how a new Core Scientific might appear after exiting from bankruptcy procedures, according to the filing.
Notwithstanding its present bankruptcy procedures, Core Scientific remains optimistic about its financial health and is focused on reworking its business model in order to achieve a successful return. Higher Bitcoin pricing, greater network hash rate, and lower energy costs were cited as reasons for the company’s better financial performance. According to the bankruptcy plan, holders of approved debtor-in-possession (DIP) claims would get full and final satisfaction of their claims on the bankruptcy plan’s effective date. They will either be paid in full in cash or given alternative therapy as agreed upon. Any lines of credit given to secure DIP claims will also be terminated, removing the secured interest in the company’s assets.
Source
/channel/Bitcoin_NewsTg
💰 Bitcoin Halving Effect on Asset’s Behavior Still Unclear: Coinbase
Getting a clear picture of the crypto market’s reaction to the halving would require disentangling the effects of several external factors, according to Coinbase. While the halving is viewed positively because it is believed to enhance BTC’s prospective scarcity and support its supply-demand dynamics, getting a clear picture of the market’s reaction would require disentangling the effects of U.S. dollar movements, interest rates, and global liquidity.
Bitcoin’s halving happens every four years or every 210,000 blocks. During the event, the block rewards for BTC mining are reduced by 50%. The first halving happened in 2012, and the next, the fourth, is expected to occur between April and May 2024. The upcoming one will reduce BTC’s block rewards from 6.25 BTC to 3.125 BTC per block. David Duong, Head of Institutional Research at Coinbase, explained in the report that with only three halving events, evidence of the market’s reaction is still limited, as they all took place alongside some significant monetary and fiscal developments. The upcoming one will reduce BTC’s block rewards from 6.25 BTC to 3.125 BTC per block.
Source
/channel/Bitcoin_NewsTg
🇫🇷 Binance Under Investigation In France For Serious Money Laundering
The Paris prosecutor’s office stated to it that Binance is being investigated by local authorities for “illegally” providing digital asset services and serious money laundering. The information confirmed to Le Monde by the Paris public prosecutor’s office, an investigation relates to acts of illegal exercise of the function of digital asset service provider (PSAN) on the one hand and acts of aggravated money laundering by participating in investment operations, concealment.
According to the Paris prosecutor’s office, an in-depth examination of papers and computer parts seized during the search is now required. Binance, which is being sued by the Securities and Exchange Commission for failing to register as a trading platform and selling unregistered securities, is also suspected of violating French law governing crypto-asset platforms, which has made a wide range of activities conditional on obtaining the status of digital asset service provider since 2019. This registration with the Financial Markets Authority (AMF) is especially important if you want to market to prospective French consumers. Nevertheless, Binance, which has been delivering its services in France since 2020.
Source
/channel/Bitcoin_NewsTg
Welcome to the Crypto side!
Casino Rocket’s unique Crypto Rewards program will make you blast off into the Crypto space
Enjoy our Crypto Welcome package:
1st Deposit: 120% up to 1 BTC+ 50 Free Spins
2nd Deposit: 75% up to 1 BTC
3rd Deposit: 100% up to 1 BTC + 50 Free Spins
4th Deposit: 120% up to 2 BTC + 100 Free Spins
But that’s not all - loyal crypto players will receive unique NFT rewards from OpenSea collection, featuring stunning artwork inspired by space travel
Embark on the greatest Crypto gaming adventure!
Start here: https://newgenaffmedia.com/m4a956bd4
Join now with just 1 Click All important Crypto Channels:
/channel/addlist/1H7No7OFbZE2YzVk
📣 Bitget To Temporarily Suspend BNB Smart Chain Services For Hard Fork Upgrade
Bitget, a leading cryptocurrency exchange, has announced its support for the upcoming hard fork upgrade of the BNB Smart Chain (BEP20) network. Bitget has officially confirmed that it will suspend the recharge and withdrawal services for the BNB Smart Chain (BEP20) network, starting from 05:30 on June 12, 2023 (Beijing time). This temporary suspension is necessary to facilitate the smooth execution of the network upgrade and hard fork, specifically at the block height of 29,020,050.
During this period, token transactions based on the BNB Smart Chain (BEP20) network will not be affected. Traders and users will be able to continue their normal token trading activities without any interruptions. However, it’s important to note that the deposit and withdrawal services for BNB Smart Chain will be temporarily unavailable until the upgrade is completed. The support of Bitget for the BNB Smart Chain hard fork upgrade highlights the exchange’s commitment to providing a secure and efficient trading environment for its users. By aligning with the network upgrade, Bitget aims to ensure the continued smooth operation of BNB Smart Chain and enhance the overall user experience.
Source
/channel/Bitcoin_NewsTg
🔥 OKX Burns $258 Million Worth Of OKB Tokens In Latest Buyback And Burn
Leading cryptocurrency exchange OKX has successfully completed its 20th periodic buyback and burn event, resulting in the destruction of millions of OKB tokens. OKX announced that it has repurchased and burned 5,497,312.77 OKB tokens, equivalent to approximately $258 million. The buyback and burn period spanned from March 1, 2023, to May 31, 2023. This strategic move is expected to increase the value of the remaining OKB tokens in circulation.
Following the announcement, the price of OKB experienced a modest increase, rising from $44 to $45, representing a 1.4% surge within the past 24 hours. The market capitalization of OKB now stands at an impressive $2.6 billion. Since the inception of the OKB buyback and burn program in April 2019, the platform has eliminated a total of 64,042,314.70 OKB tokens. As a result, the current circulating supply of OKB has reduced to 235,957,685.30 OKB. The buyback and burn initiative demonstrates OKX‘s commitment to increasing the value and scarcity of OKB tokens. By reducing the supply, OKX aims to create a more attractive investment proposition for token holders and foster a positive market sentiment.
Source
/channel/Bitcoin_NewsTg
🇺🇸 PoW Tokens Not Raided In The SEC Lawsuit
It seems that Proof of Work (PoW) tokens have not been on the radar of the leading US agency. DCG founder Barry Silbert stated that PoW tokens (such as BTC, LTC, XMR, ETC, ZEC, etc.) are not included in any US Securities and Exchange Commission (SEC) lawsuit. Earlier, the US Securities and Exchange Commission sued Coinbase, the biggest US cryptocurrency exchange, for violating US securities rules by acting as an unregistered broker, exchange, and clearing agency.
The complaint follows a similar action brought by the government on Monday against Binance, the world’s biggest cryptocurrency exchange. The SEC identified stocks in suing Binance as SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI. The SEC classified SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO tokens as securities in its lawsuit against Coinbase. In an interview with CNBC, Gensler said that it is up to individuals to decide what they want to invest in. Nonetheless, he claims that the law requires service providers to appropriately disclose their goods and services. According to Gensler, without sufficient disclosures, investors are “just chasing after something,”.
Source
/channel/Bitcoin_NewsTg
🇧🇷 Brazil’s Mercado Bitcoin Becomes Licensed Payment Provider, Launches MB Pay Fintech Solution
Mercado Bitcoin, Brazil’s leading cryptocurrency exchange, has obtained a payment provider license, allowing the launch of its fintech solution, MB Pay. Brazil’s central bank has granted Mercado Bitcoin, the country’s prominent cryptocurrency exchange, a payment provider license on June 2. This milestone paves the way for the introduction of MB Pay, the exchange’s new fintech solution.The license enables users to access digital banking services using crypto assets held on the exchange.
Mercado Bitcoin aims to enhance its services and expand its business further. According to Roberto Dagnoni, CEO of 2TM, the parent company of Mercado Bitcoin, the approval from the central bank is a crucial step in providing improved services to their customers. As a licensed payment institution, MB Pay will offer Brazilian users access to various digital banking services utilizing crypto assets held on the exchange. This includes features like investing in digital fixed income, staking, and other financial transactions. Moreover, users can anticipate the introduction of a debit card that allows seamless conversion of cryptocurrencies.
Source
/channel/Bitcoin_NewsTg
🇷🇺 Russian Bank Launches Cryptocurrency Cross-Border Settlement Solution
Rosbank, sanctioned by the United States, has become the first Russian bank to launch a cryptocurrency cross-border settlement solution. According to a post on local news, the bank is already conducting pilot transactions with corporate and private clients. Russian companies must use the service through Rosbank and B-crypto’s KYC procedures. The Russian fintech service B-crypto provides technical support for cryptocurrency settlements, specializing in international payments in digital currencies.
The importer must provide for cryptocurrency settlements and register the recipient’s crypto wallet. Then the supplier issues an invoice to the Russian company for payment in cryptocurrency, also indicating the address of the crypto wallet. Next, the importer and B-crypto sign an agreement, and the customer deposits fiat funds to purchase cryptocurrency to an account with Rosbank and leaves an application. The bank transfers money in B-crypto; it buys cryptocurrency in friendly countries and transfers it to a foreign supplier. Many countries are taking steps to include cryptocurrency transactions in their sanctions regimes. The use of cryptocurrencies to circumvent sanctions may be recognized by them as illegal.
Source
/channel/Bitcoin_NewsTg
📣 Multichain Founder Arrested by Police In Shanghai For Investigation
According to a source from Wu Blockchain, the Multichain founder has been arrested by Chinese police in Shanghai for investigation. But now the tweet has been deleted. The incident started when users noticed an unusual delay in receiving cross-chain funds on the Multichain on May 24. Later, the cross-chain announced that, despite most of the cross-chain routes of the transaction. All modes are working, but due to force majeure, some cross-linking routes have gone offline, and service recovery time is unclear.
A day later, rumors surfaced in the Chinese crypto community that the police had arrested the Multichain network development team. The Chinese police can also control the network’s hardware/cold wallets. Based on speculative claims, the wallet involves around $1.5 billion to $1.6 billion in funds. A blockchain investigator named BoringSleuth examined the implications of the rumors of arresting Multichain team members. The detective mentioned that the arrest was massive, citing that if the arrest were valid, then one of the most significant criminal organizations in the crypto space would have been arrested. Team members are connected to over 10 enumerator-based carpet pulls.
Source
/channel/Bitcoin_NewsTg
🪙 Do Kwon Hired Super Large Global Law Firm Dentons To Deal With US Prosecutors
According to Digital Asset media, Kwon Do-hyeong (Do Kwon), founder and CEO of Terraform Labs (TFL), who was arrested in Montenegro at the end of March, recently appointed a global mega-law firm in response to the prosecution and investigation by US federal prosecutors. This law firm is known as Dentons. According to Law.com and Wikipedia, as of May 29, this law firm is ranked 6th in the global law firms ranking 2023.
It is the largest law firm in the world by number of lawyers. As of May, Dentons had 12,000 attorneys, four times the number of attorneys at other global law firms. It is known for having the most significant number of lawyers from China among international law firms. Dentons was founded in 2015, and at the time, domestic and foreign media reported that “the world’s largest law firm was formed by merging law firms in the United States and China”. In March, New York’s Southern District Attorney’s Office indicted Kwon on eight counts, including securities fraud and conspiracy to manipulate market prices. This is the first criminal prosecution by the US federal prosecutor’s office against Kwon.
Source
/channel/Bitcoin_NewsTg
🟠 Binance Now Terminating Australia Due To Banking Partner Issues: CZ
After Binance’s troubles with the country with tight crypto institutions, Changpeng “CZ” Zhao spoke out about why the exchange had to leave Australia. CZ said that for Binance to close its business in Australia and the Australian dollar trading pair, this is a decision made by the legal currency channel, that is, the bank partner stops cooperation with it. Without access to fiat currency, there is no way to deposit or withdraw AUD, and the pair is illiquid, he stated.
Binance Australia has told customers that its Australian currency services have been terminated after its local payment services provider was directed to discontinue support for the exchange. Binance later issued an announcement that it would delete and delist the relevant Australian dollar trading pairs on June 1. Users of Binance’s platform may still trade the impacted assets on other trading pairs, according to the company. It would, however, discontinue its Trading Bots services for the aforementioned pairs. The Australian arm said on May 18 that Australian dollar PayID deposits and bank transfer withdrawals might be affected owing to a decision made by its third-party payment service provider.
Source
/channel/Bitcoin_NewsTg
🇰🇷 South Korea Bill Forces Officials To Reveal Bitcoin Holdings or Face Penalties
The South Korean government is taking measures to regulate the use of digital currencies like Bitcoin by its officials. The government is implementing new laws that will require lawmakers and high-ranking public officials to report on their holdings of cryptocurrencies. This move comes in response to a major government scandal that involved some National Assembly members holding large amounts of cryptocurrency.
On May 25, South Korea’s National Assembly unanimously passed a bill that obligates lawmakers and high-ranking public officials to disclose their cryptocurrency assets. The bill involves amendments to the National Assembly Act and the Public Service Ethics Act. The amendment to the National Assembly Act was unanimously passed with support of 269 votes from 269 lawmakers present. The amendment to the Public Service Ethics Act received 268 votes from 268 lawmakers present. This means that cryptocurrency will now be included in the list of registered property by lawmakers. With this new legislation, the South Korean government aims to prevent potential money laundering, conflicts of interest, and the use of insider information.
Source
/channel/Bitcoin_NewsTg
🪙 Number of Ether Staked Has Surged By 4.4 Million Since Shapella Upgrade
Interest in staking ether (ETH), or locking coins in the Ethereum network to earn passive yield, has surged since Ethereum implemented the Shapella or Shanghai upgrade on April 12. Data tracked by Glassnode show more than 4.4 million coins have been deposited into the staking contract since April 12, taking the tally to 22.58 million. "The surge in demand for staking probably originates from large Ether holders.
The staking demand has surged despite a waiting time of over one month, as previously reported. As of Tuesday, ether holders looking to become a validator on the network would have to wait for 36 days, according to data source wenmerge.com. Currently, more than 50,000 perspective validators are in the queue. At press time, staking ether offers an annualized yield of 4% to 5%. Validators are entities tasked with processing transactions and storing data on the blockchain and need to deposit at least 32 ETH. Ether owners continue to establish themselves as network validators, enticed by an annual yield of around 4-5 percent through token staking.
Source
/channel/Bitcoin_NewsTg