Cryptocurrency News by Tradecoind2

[tradecoind2]

Poland discovers cryptocurrency mining pool in Supreme Court​

Polish officials discovered a series of cryptocurrency mining machines hidden inside the Supreme Administrative Court building in Warsaw.

Polish investigators found a large number of excavators operating in August and September, but the information was only confirmed by authorities last week. “We reported to the police about the equipment installed in the building’s technical infrastructure. They took appropriate measures, including dismantling and confiscating the equipment,” judge Sylwester Marciniak, Head of the Legal Information Department of the Polish Supreme Administrative Court, said.

Polish media said the machine is hidden in ventilation pipes and under the floors of floors, consuming more than 1,000 USD per month in electricity. Installers equipped the modem and established an Internet connection, rather than using the building’s public network, to limit the risk of detection.

The identity of the suspect behind it has not been announced. However, TVN24 television channel said those were two employees of the business in charge of managing the information technology infrastructure at the building. Both were fired, while the Polish Supreme Administrative Court terminated the contract with the operating company.

Polish officials continue to investigate, including determining the total time the mine has been in operation. The suspects may be charged with electricity theft.

Bitcoin miners often use specialized machines because mining cryptocurrency requires high computing power. This process generates a lot of heat, requiring a large amount of electricity to operate. This is the reason why places with cheap electricity prices and cool weather are often given priority to build mining facilities, as well as the appearance of underground mines using stolen electricity.

Source:

Poland discovers cryptocurrency mining pool in Supreme Court - TRADECOIN D2 (BETA)

Polish officials discovered a series of cryptocurrency mining machines hidden inside the Supreme Administrative Court building in Warsaw.

tradecoind2.com

 

[Darshdas]

Ethereum's Layer-2 scaling solution, Arbitrum, is set to introduce over $1 billion worth of ARB tokens in the upcoming March. This marks the initiation of a four-year phased release plan for its native token, as reported by Token Unlocks.

On March 16, 2024, the protocol, designed to enhance scalable and cost-effective smart contract capabilities, will execute a "Cliff Unlock" event for 1.11 billion ARB tokens, valued at $1.24 billion at the current rate of $1.12. This quantity represents 87% of the total circulating supply of 1.275 billion ARB tokens. Currently, there are still more than 5 billion ARBs that remain locked.

In cryptocurrency, "unlocks" refer to scheduled intervals where initially allocated tokens are released to prevent massive sell-offs by early investors or project team members. The "Cliff Unlock" approach permits the immediate release of a specific token amount following a distribution time, followed by a linear pattern for the subsequent unlocking process.

Following the March 16, 2024 unlock event, Arbitrum will maintain a consistent schedule of releasing a fixed quantity of tokens every four weeks for a span of four years, as highlighted in a tweet by Token Unlocks.

https://twitter.com/i/web/status/1691648214553014458

The unlocking process contributes to increased liquidity but is often considered a negative influence on cryptocurrency prices. Research conducted by analytics firm The Tie indicated that when unlock volumes exceed 100% of the average daily trading volume, they typically impact the value of ARB tokens.

As of the current data provided by TradingView, ARB is currently trading at $1.12, reflecting a 4% decrease over the past month.

Arbitrum's phased release plan for over $1 billion worth of ARB tokens heralds a significant development in Ethereum's Layer-2 scaling. The "Cliff Unlock" event on March 16, 2024, releasing 87% of the total circulating supply, demonstrates a strategic approach to prevent market turbulence. The subsequent scheduled releases every four weeks over four years ensure a steady token flow. This meticulous token distribution not only minimizes the risk of sell-offs but also aligns with Arbitrum's goal of enhancing scalability and cost-effectiveness for smart contracts. A well-structured plan poised to shape the future landscape of Ethereum's Layer-2 ecosystem.

 

[tradecoind2]

Community Attention to Binance’s Move of $3.9 Billion USDT Following Report of Settlement with US DOJ​

Cryptocurrency community members on The US Department of Justice (DOJ) is negotiating with the exchange about a $4 billion settlement.

On November 20, a Bloomberg report citing anonymous sources said the DOJ was negotiating a deal with the world’s largest cryptocurrency exchange that would require the company to pay a $4 billion fine. Once paid, the company will be allowed to operate in the United States while complying with local laws. The report said this could be announced as soon as the end of November.

On November 9, Binance moved 3.9 billion USDT from a wallet called “Binance-Cold 2” on Tron to wallet labeled “Binance 3”. Then, 300 million USDT was transferred to another wallet, leaving about $3.6 billion in “Binance 3”. According to blockchain intelligence firm ChainArgos, the transaction is the eighth largest USDT transaction on the Tron blockchain.

https://twitter.com/i/web/status/1724096558675775760

Following reports of negotiations between the exchange and the DOJ, various accounts on social media began speculating about the $3.9 billion transfer.

Some ask questions about this money, ask that where the money came from and whether it was to prepare to pay a fine. With the transfer of funds and reports of negotiations with the DOJ so close together, some Twitter users are trying to connect the pieces and figure out see if there is any connection between the two things.

https://twitter.com/i/web/status/1726715463806361666

Source:

Community Attention to Binance's Move of $3.9 Billion USDT Following Report of Settlement with US DOJ - TRADECOIN D2 (BETA)

Cryptocurrency community members on The US Department of Justice (DOJ) is negotiating with the exchange about a $4 billion settlement.

tradecoind2.com

 

[tradecoind2]

FTX’s FTT increased by 53% amid Binance’s trouble​

In a surprising development, FTX’s native token, FTT, experienced a significant spike of 53% on the day. This sudden increase in value comes on the heels of the announcement that Binance CEO Changpeng Zhao (CZ), resigned as part of a settlement with the US Department of Justice (DOJ). Meanwhile, Binance’s native cryptocurrency, BNB, has faced a 13% decline in value, trading at $232 at press time.

Traders migrate to FTT​

While many may attribute the decline in BNB’s value to CZ’s departure, it is important to note that altcoins have experienced a decrease in market capitalization. Interestingly, some traders have transferred capital from BNB to FTX’s FTT, showing a change in sentiment in the cryptocurrency market. Santiment, an onchain analytics company, commented on this development, highlighting the ongoing trend.

https://twitter.com/i/web/status/1727131878195663127

Coinglass reports significant liquidation of Long BNB positions, totaling $3.73 million, and Short positions amounting to $1.61 million. Additionally, options volume for BNB increased significantly by 68%, reaching $2.41 million, accompanied by a 29% increase in open interest (OI) of options, currently at $3.47 million.

Changpeng Zhao, the departing CEO of Binance, took to Twitter to open up about his decision to step down, emphasizing his commitment to holding himself accountable for his actions.

“We must admit that letting go is not easy. But I knew it was the right thing to do. I made a mistake and I must take responsibility. This is what’s best for our community, for Binance, and for me.”

The sudden increase in the value of FTT and the decline in the price of BNB raise a number of questions about the future of these cryptocurrencies and the broader crypto market. CZ’s exit from Binance, one of the world’s largest cryptocurrency exchanges, sent shock waves throughout the industry.

Some experts speculate that CZ’s decision to resign may have been influenced by continued scrutiny from regulators, including the DOJ, which has increased its focus on cryptocurrency exchanges. death. The move could be seen as an attempt to address regulatory concerns and pave the way for a more compliant future for Binance.

On the other hand, FTX’s FTT has gained popularity among traders, possibly due to its stability and resilience during market fluctuations. This change in sentiment highlights the dynamic nature of the cryptocurrency market, where investors are quick to adapt to changing circumstances.

What lies ahead for FTT and BNB?​

As the crypto market continues to react to CZ’s departure and the broader regulatory landscape, the future of FTT and BNB remains uncertain. Traders and investors are closely watching these developments as they could have a lasting impact on the cryptocurrency ecosystem.

FTX’s FTT, with its recent surge, has demonstrated its potential to become a competitor in the market. BNB’s ability to lure away traders suggests that it could continue to gain momentum in the coming days.

However, the cryptocurrency market is notoriously volatile and investors should exercise caution and conduct thorough research before making any investment decisions.

On the other hand, Binance’s BNB, despite facing a temporary setback, should not be underestimated. Binance remains one of the largest and most influential cryptocurrency exchanges globally, and its future decisions and actions will certainly shape the trajectory of the market.

Source:

FTX's FTT increased by 53% amid Binance's trouble - TRADECOIN D2 (BETA)

In a surprising development, FTX's native token, FTT, experienced a significant spike of 53% on the day. This sudden increase in value comes on the heels of

tradecoind2.com

 

[tradecoind2]

DOJ: Changpeng Zhao ‘poses an unacceptable flight risk’, should stay in US​

US government prosecutors are trying to stop former Binance CEO Changpeng Zhao (CZ) from leaving the country, expressing concerns about his potential flight risk.

In a filing filed with Seattle federal court on November 22, US prosecutors asked to reconsider and overturn the judge’s decision allowing Zhao to return to his home in the United Arab Emirates. (UAE) with a bail worth $175 million on the condition that he return to the US two weeks before sentencing in February 2024.

In the proposed order, U.S. prosecutors wrote that CZ “poses an unacceptable flight risk and failure to appear if he is allowed to leave the United States to await sentencing.”

In an accompanying letter, prosecutors said if Zhao decides not to return to the United States, the government “will not be able to guarantee his return.”

In its argument, the government pointed to Zhao’s connections and favored status in the UAE, along with the country’s lack of an extradition treaty with the US, as reasons to block him from leaving.

“He has three children and a wife in the UAE; had been in the UAE and faced the prospect of returning to the United States with the risk of 18 months in prison, he could have chosen instead to remain in the UAE with his family.”

Prosecutors said Zhao could live in the UAE indefinitely thanks to his wealth, as most of it was held overseas, outside of US jurisdiction.

The government also said Zhao’s bail was inadequate because most of the $175 million used to secure his release was beyond the reach of the United States.

Zhao recently pleaded guilty, and part of his plea agreement required him to resign as CEO of the exchange and pay a $50 million fine.

Industry experts and observers have argued that Binance’s settlement with the Department of Justice is a positive outcome for the cryptocurrency industry, further legitimizing it in the United States.

Additionally, the cryptocurrency market has recovered from bad news regarding one of the most influential players in the industry.
Total market capitalization has returned to pre-Binance news levels, reaching $1.47 trillion at press time.

Source:

DOJ: Changpeng Zhao 'poses an unacceptable flight risk', should stay in US - TRADECOIN D2 (BETA)

US government prosecutors are trying to stop former Binance CEO Changpeng Zhao (CZ) from leaving the country, expressing concerns about his potential flight

tradecoind2.com

 

[tradecoind2]

Montenegrin court approves Do Kwon’s extradition​

The High Court in Podgorica, the capital of Montenegro, has approved the extradition of Do Kwon, co-founder of Terraform Labs, based on requests from Korea and the United States.

The court said on Friday that extradition was requested on charges related to financial crimes in both countries. The court added that Kwon has agreed to extradite to South Korea, but Montenegro’s Attorney General will make the final decision on which country is given priority for extradition.

The charges against Kwon range from allegations of violating financial investment laws to conspiracy to commit fraud. South Korea is seeking his extradition for alleged crimes related to financial investment services and capital markets laws. At the same time, the United States is pursuing Kwon on charges of conspiracy to commit fraud, involving sales contracts, securities transactions and interstate transfers, among other charges.

Kwon became the focus of a worldwide pursuit in September 2022 when the international criminal police organization Interpol issued a red notice a> for him, stemmed from the collapse of two tokens he created in May 2022 – TerraUSD and Luna – which wiped out about $40 billion of investor dollars within a few days.

In April this year, Terraform’s other co-founder, Daniel Shin, was indicted in South Korea for violating capital markets laws, leading to prosecutors freezing $185 million in assets. However, Shin denied any involvement in the Terra collapse, asserting that he had left the company two years before it occurred.

Source:

Montenegrin court approves Do Kwon's extradition - TRADECOIN D2 (BETA)

The High Court in Podgorica, the capital of Montenegro, has approved the extradition of Do Kwon, co-founder of Terraform Labs, based on requests from Korea

tradecoind2.com

 

[tradecoind2]

Fan mail and ETH tip sent to KyberSwap hacker who stole $48 million​

Some victims of the $48 million KyberSwap hack are no doubt anxiously waiting for the DeFi platform attacker to make his next move.

However, others appear to be taking a more proactive approach: talking directly to miners through the Ethereum blockchain.

“Hello! You did a great job, you are a great person!”, one person wrote in a message accompanying the transaction. I lost more than $155,000 USDC, you can check my wallet. Can you please send some money to help my family? I can transfer money to any wallet, please help me!”.
Other messages are much more formal:

“Hello grandparents! I am a liquidity provider on Arbitrum — 259809.7 DAI. I want to negotiate and ask how much bonus you want? I believe that code is law and that is completely up to you. Thanks in advance!”.

KyberSwap aggregates DeFi liquidity into a single pool, providing services such as a decentralized exchange and wallet for end users to instantly swap tokens through a network of smart contracts.

Following this chain first discovered something was wrong with KyberSwap on Wednesday night. Millions The cryptocurrency was suddenly withdrawn from KyberSwap contracts deployed to Ethereum, Polygon, Coinbase’s Base, Arbitrum, and Optimism, with the last two most affected.
A series of complex flash loan attacks and other targeted mining activities have depleted token liquidity pools.

KyberSwap responded by urging users to withdraw funds from the platform, and approximately $77 million was quickly withdrawn. Currently, less than $8 million is held in KyberSwap, according to DeFiLlama.

To date, the stolen money is still hidden at many different hacker addresses. After the attack subsided, the hacker initiated a transaction with the following message:

“Dear Kyberswap developers, employees, DAO members, and liquidity providers, negotiations will begin in a few hours once I am fully rested.”
This happened about a day and 18 hours ago. But nothing since then.

Ethereum allows adding a message to the input field when sending a transaction and costs around $2.

While some of the messages told the hacker he could keep some of the cryptocurrency if he returned the rest, it’s unclear whether notes like “if that money runs out, my child can’t go to school anymore, Because I don’t have any more money, please help me” are true stories from victims or not.

Some more gentle messages:
“Hello. Congratulations on that hit it was crazy, you look like a smart, arrogant and funny guy, can we talk on Telegram?”.

“Hello legend, please send me 1 million to become a dangerous person in my life, thank you, love you,” another person wrote.

There are others who advise: “I don’t know what you want to do next, but just wanted to remind that stablecoins like USDC have blocking addresses in the smart contract code.” Some even sent tips, including one worth 0.001 ETH ($2.06) and one worth 0.0000069 ETH ($0.014).

Typically, hackers have to wait days, months, or even years before attempting to launder stolen cryptocurrency. Sometimes hackers return the money after taking 10% or 20%, treating the whole thing as a gray hat joke.


Source:

Fan mail and ETH tip sent to KyberSwap hacker who stole $48 million - TRADECOIN D2 (BETA)

Some victims of the $48 million KyberSwap hack are no doubt anxiously waiting for the DeFi platform attacker to make his next move.

tradecoind2.com

 

[tradecoind2]

Cosmos officially reduces the maximum inflation rate to 10%, staking interest rate is only 13.4%​

In an important decision, the Cosmos Hub community voted to enact the “Reduce ATOM Production” proposal, setting the maximum inflation rate at 10%. This proposal received 41.1% support while the opposition rate was 31.9%.

The move represents a significant reduction in ATOM’s maximum inflation, reducing the maximum inflation rate from 20% to 10%. At the same time, the annual staking interest rate decreased significantly, from 19% to 13.4%. These changes aim to redefine inflation dynamics and change the reward structure in the Cosmos network.

Proposal, to be recorded on Mintscan, a Cosmos blockchain explorer, detailing the transition and providing a comprehensive analysis of the changes.

Bitcoin Magazine recently has highlighted discussions in the Cosmos community regarding to this proposal. The report sheds light on the division among stakeholders in the Cosmos ecosystem, presenting differing views and opinions regarding the drastic halving of ATOM’s inflation rate.

This decision marks an important moment in the evolution of the Cosmos ecosystem. The reduction in staking interest and ATOM production represents a conscious effort by the community to recalibrate economic incentives, potentially affecting validators, delegators, and the overall dynamics of the Cosmos network.

Source:

Cosmos officially reduces the maximum inflation rate to 10%, staking interest rate is only 13.4% - TRADECOIN D2 (BETA)

In an important decision, the Cosmos Hub community voted to enact the “Reduce ATOM Production” proposal, setting the maximum inflation rate at 10%. This

tradecoind2.com

 

[tradecoind2]

A federal judge in Seattle ruled on Monday that Changpeng Zhao, the former CEO of Binance, must remain in the United States.

This decision follows Zhao’s guilty plea to charges of violating US anti-money laundering laws, putting him in a legal predicament with potential implications for the crypto industry.

Former Binance CEO Changpeng Zhao detained in the US

Changpeng Zhao, a citizen of both Canada and the United Arab Emirates (UAE), is required to stay in the US until the Seattle court decides whether he should remain in the country through his sentencing in February 2024. US District Judge Richard Jones is set to review this matter, especially after the US government appealed an earlier decision allowing Zhao’s return to the UAE.

“Having considered the briefing, and the files and pleadings herein, the Court determines it will review the decision of Magistrate Judge Brian A. Tsuchida permitting Defendant to return to the United Arab Emirates pending sentencing pursuant to the conditions of his appearance bond. It is ordered that the condition permitting Defendant to return to the UAE pending sentencing is stayed until such time as this Court resolves the Government’s motion for review,” read the court filing.

Last week, the case took a dramatic turn when Zhao agreed to a $175 million bond as part of his bail arrangement. His resignation as CEO of Binance came amidst these legal challenges.

Binance, the company, also agreed to pay over $4.3 billion in a settlement. Subsequently, pleading guilty to breaking US anti-money laundering and sanctions laws.

“I made mistakes, and I must take responsibility,” Zhao said.

Facing a maximum prison sentence of 10 years, Zhao agreed not to appeal any sentence of up to 18 months. As the Justice Department spokesperson noted, the prosecution’s stance on Zhao’s jail time will be decided closer to his sentencing.

Despite Binance’s legal troubles, the crypto market has shown resilience. Bitcoin and Ethereum closed the week slightly up despite initial outflows exceeding $1 billion from Binance. Although the market depth for top traded instruments on Binance dropped by about 25%, it quickly recovered.

However, Binance’s market share tells a different story. From commanding over 70% at the start of 2023, its market share has dwindled to 46%.

The settlement and the ensuing changes have led to fluctuations in Binance’s native BNB token and trading volumes. Still, “Binance emerged mostly intact save for a large fine, the loss of its CEO, and ongoing monitoring,” said researchers at Kaiko.

Source:

Former Binance CEO Changpeng Zhao Must Remain in the US, Said Federal Judge - TRADECOIN D2 (BETA)

A federal judge in Seattle ruled on Monday that Changpeng Zhao, the former CEO of Binance, must remain in the United States.

tradecoind2.com

 

[tradecoind2]

Binance in decline, Cristiano Ronaldo faces a collective lawsuit​

Professional football superstar Cristiano Ronaldo is facing a proposed class-action lawsuit from plaintiffs who claim they suffered damages from his promotion of the Binance cryptocurrency exchange, which is now facing legal scrutiny.

Documents filed in a Florida district court on November 27 state that Ronaldo “promoted, supported, and/or actively participated in the solicitation and sale of unregistered securities in coordination with Binance.”

Binance had initiated a collaborative relationship with Ronaldo in mid-2022 to promote a series of his own NFTs, including at least three collections closely associated with Binance.

The complaint alleges that users who registered for Ronaldo’s NFTs were likely to use Binance for purposes beyond, including investing in what they believe to be unregistered securities, including Binance’s BNB and its cryptocurrency profit programs.

“Ronaldo’s promotional programs attracted or supported Binance in attracting investment in unregistered securities by encouraging millions of his followers, fans, and supporters to invest in the Binance platform.”

The complaint argues that Ronaldo played a crucial role in increasing Binance’s popularity due to his influence and reach, with 850 million social media followers. They claim his NFT sales were “extremely successful” in promoting the exchange, with searches for “Binance” increasing by 500% in the week following the first sale.

The lawsuit alleges that Ronaldo knew or should have known “about Binance selling unregistered cryptocurrency securities” because he had “investment experience and abundant resources to recruit outside advisors.”

The lawsuit cites guidance from the U.S. Securities and Exchange Commission (SEC), which warns celebrities about the need to disclose payments received for cryptocurrency advertising – something the complaint alleges Ronaldo failed to do.

The named plaintiffs in the class-action lawsuit are Michael Sizemore, Mikey Vongdara, and Gordon Lewis, who are seeking compensation for damages and funds to cover legal expenses.

Meanwhile, Binance and its founder Changpeng Zhao (CZ) are dealing with their own legal troubles, having pleaded guilty and paid a $4.3 billion fine to the U.S. government for charges related to money laundering and operating an unregistered money services business.

Zhao resigned as CEO and may face 18 months in prison, while Binance agreed to Justice Department and Treasury Department compliance monitoring for five years.

The SEC has sued Binance, alleging – among other charges – that they sold unregistered securities and is reportedly investigating whether Binance misappropriated customer funds.

Source:

Binance in decline, Cristiano Ronaldo faces a collective lawsuit - TRADECOIN D2 (BETA)

Professional football superstar Cristiano Ronaldo is facing a proposed class-action lawsuit from plaintiffs who claim they suffered damages from his promotion

tradecoind2.com

 

[tradecoind2]

The websites of two DEXs, Velodrome and Aerodrome, have been compromised.​

The decentralized exchanges Velodrome and Aerodrome have warned users that their websites have been compromised.

The incident appears to be a Domain Name System (DNS) system attack aimed at taking control of official website links. In such incidents, hackers gain control of a website and redirect users to a fraudulent site linked to a malicious contract designed to steal users’ funds.

Both Velodrome and Aerodrome have cautioned users not to interact with their websites until further notice.

“Our user interface is currently compromised. Please do not interact with Velodrome at this time. The team is investigating,” noted the team. A similar announcement was made through Aerodrome’s official account on X.

The Domain Name System is a widely used protocol that websites rely on. However, attackers can exploit DNS vulnerabilities to carry out attacks.
While there has been no official statement on the impact of the incident on user assets, analyst ZachXBT has identified over $40,000 transferred to two specific addresses, potentially funds stolen in the attack.

Velodrome is the second-largest decentralized trading protocol on the Optimistic Ethereum (formerly Optimism) Mainnet in terms of total value locked and revenue. It has a total value locked of over $139 million. Meanwhile, Aerodrome is the largest protocol on the Base by TVL, holding over $63 million.

Source:

The websites of two DEXs, Velodrome and Aerodrome, have been compromised. - TRADECOIN D2 (BETA)

The decentralized exchanges Velodrome and Aerodrome have warned users that their websites have been compromised.

tradecoind2.com

 

[tradecoind2]

AntPool will refund the 83 BTC transaction fee​

Bitcoin miner AntPool will refund $3 million worth of transaction fees it processed last week after a bug cost one user a transaction fee highest ever on the Bitcoin network.

“On November 23, some users sent 83 BTC as gas fees,” AntPool said in an announcement on Thursday. “ANTPOOL’s risk control system temporarily freezes fees when packaging transactions.”

Miners are entities that use vast computing resources to process transactions on blockchains like Bitcoin, receiving predetermined rewards each time they successfully mine a “block.”

Miners are under no obligation to return fees to users but may choose to do so when the amount is unusually large.

AntPool says it will verify the sender’s identity if they sign an onchain message through another Bitcoin transaction using the same message – which will prove ownership.

Source:

AntPool will refund the 83 BTC transaction fee - TRADECOIN D2 (BETA)

Bitcoin miner AntPool will refund $3 million worth of transaction fees it processed last week after a bug cost one user a transaction fee highest ever on the

tradecoind2.com

 

[tradecoind2]

Names that benefited from Binance’s $4.3 billion settlement​

After exchange Binance reached a significant multi-billion dollar settlement with US regulators last week, the on-chain data analytics firm reported a spike in Coinbase’s market share. .

On November 21, Binance and the US Department of Justice (DoJ) reacheda settlement worth 4.3 billion dollars, resolving allegations related to anti-money laundering.

However, according to research firm Kaiko Research, regulatory challenges have caused other exchanges to increase their market share.

The company recently released a report indicating that Coinbase’s trading volume increased during the trading day in Asia. Europe, outside of regular US trading hours:

“Coinbase shares rose the most outside of U.S. trading hours (9:00 p.m. – 5:00 a.m. Vietnam time), instead rising sharply in the middle of the trading day in Europe and early in the trading day in East Asia ”.

Meanwhile, Bybit is said to be changing significantly throughout the day.

The report said:

“Bybit was an immediate standout winner, gaining market share every hour and growing more than 20% over 16/24 hours.”

However, Binance has reportedly maintained its liquidity across all cryptocurrencies despite facing regulatory challenges:

The report states:

“Despite Coinbase’s growing volume market share, Binance remains the leader in liquidity, for both BTC and altcoins.”

Meanwhile, some industry leaders believe Binance partnering with the DoJ is positive for the crypto community.

Galaxy Digital’s Mike Novogratz believes that the recent legal action against Binance is a positive for the entire cryptocurrency industry.

“I think they have mitigated the risk in many ways. People are nervous when trading with Binance. Now I’m a lot less worried,” he said.

In recent news, Coinbase’s market share hit an 18-month high following Binance’s legal troubles.

According to TradingView data, on November 27, Coinbase closed at $119.77, its highest level since May 2022 ($114.25).

Coinbase reports a threefold increase in law enforcement requests, totaling 13,079 in 2023​

The largest US-based exchange has seen a threefold increase in law enforcement requests in the current year compared to 2020, as revealed in its latest transparency report.

The total number of claims during the reporting period amounted to 13,079, marking an increase of about 6% over the previous year. Notably, the United States maintains its position as the leader in both 2022 and 2023, with inquiries increasing slightly in 2023.

Of the 13,079 requests sent to Coinbase from Q4 2022 to Q3 2023, 4 countries include the United States, Germany, the United Kingdom and Spain account for nearly three-quarters or 73% of the entire volume.

The United States led the way with 5,686 requests, up significantly from 5,304 the previous year, with 90.4% of these originating from criminal enforcement agencies. Germany secured second place with 1,906 claims, ahead of the UK, which saw a slight drop to 1,401 claims.

Spain ranked 4th with 732 requests. Australia emerged in 6th place with a notable 262% increase in requests to Coinbase, reaching 453. Ukraine more than tripled, while Portugal’s requests more than doubled, although These countries do not make the top 15.

Meanwhile, the number of French requests also increased significantly from 351 in 2022 to 535 in 2023.

It is important to note that these requests from government agencies and law enforcement agencies related to civil, criminal, or other investigative matters include subpoenas, court orders, warrants, and warrants. searches and other formal legal processes. Coinbase emphasizes its obligation to meet these requirements as valid under financial regulations and other relevant laws.

Coinbase further stated it may object to requests by governments, law enforcement agencies and the decision to do so will depend on the specifics of each request. In certain cases, exchanges reserve the right to request governments or law enforcement agencies to refine or limit the scope of their investigations.

The latest development follows a global trend where law enforcement agencies are increasing their efforts to combat cryptocurrency-related criminal activities. Many of these agencies are beefing up their investigative units to track potentially illegal digital asset transactions.

Harsh conditions can’t stop Coinbase​

Earlier this year, Coinbase announced its decision to double down on expansion and is now touting a network of 245,000 ecosystem partners spread across 100 countries. However, the San Francisco-based cryptocurrency giant was sued by the US Securities and Exchange Commission (SEC), accusing it of selling unregistered securities. In response, Coinbase challenged the SEC’s jurisdiction in court filings in October.

Despite successive regulatory shocks, Coinbase beat its revenue forecast, revealing $674 million in the third quarter, exceeding analysts’ previous predictions. This marks a 14.2% increase compared to the same period last year.

Coinbase’s recently launched Base has expanded to become one of Ethereum’s leading layer 2 networks, competing with the likes of Arbitrum and Optimism.

In November, the company unveiled a new update to its Coinbase Commerce product, built on top of the recently introduced open source Onchain Payment Protocol. The main goal of this update is to provide merchants and customers with instant payouts, minimal fees, and broad asset support to enhance the overall payment experience.

Source:

Names that benefited from Binance's $4.3 billion settlement - TRADECOIN D2 (BETA)

After exchange Binance reached a significant multi-billion dollar settlement with US regulators last week, the on-chain data analytics firm reported a spike

tradecoind2.com

 

[tradecoind2]

El Salvador’s Bitcoin Investment Ultimately Profited More Than $3 Million​

The President of El Salvador today excitedly shared on

“We have no intention of selling; That was never our goal. We are fully aware that prices will continue to fluctuate in the future, which does not impact our long-term strategy.”

https://twitter.com/i/web/status/1731653743668572498

Based on public statements from Bukele, it is estimated that the country owns approximately 2,744 Bitcoins.

Source:

El Salvador's Bitcoin Investment Ultimately Profited More Than $3 Million - TRADECOIN D2 (BETA)

The President of El Salvador today excitedly shared on

tradecoind2.com

 

[tradecoind2]

Terraform Labs seeks summary judgment in SEC case​

Terraform Labs, the blockchain company embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC), made a significant move on December 4, 2023, by seeking summary judgment. turn off to conclude the ongoing incident.

The lawsuit was originally filed by the SEC in February 2023 against Terraform Labs and co-founder Do Kwon, for allegedly selling unregistered securities, aiming to raise billions before the project collapsed and cashed out. Electronics lose value afterwards.

Attorney defense for Terraform Labs specifically pointed to a separate case involving DEBT Box, a different entity entangled in a lawsuit with the SEC to strengthen its stance. Defense attorneys argued that the SEC misrepresented the facts in the DEBT Box case, an argument supported by the presiding judge’s comments.

In a significant development, Terraform Labs’ legal team previously sought a motion for summary judgment after a completely unsuccessful attempt to dismiss the case. The latest move draws attention to the similarities between the DEBT Box case and the Terraform Labs situation, specifically highlighting Judge Robert J. Shelby’s criticisms of past SEC conduct.

According to Terra’s legal representatives, Judge Shelby’s findings demonstrate the SEC’s seriously inaccurate representations to the court in the DEBT Box case.

The crux of Terraform Labs’ argument lies in the implications of the DEBT Box case, suggesting that the SEC’s use of excerpts of evidence in the Terra case may have been similarly flawed. This contention extends to a specific aspect of the SEC’s amended complaint against Terraform Labs and Kwon, calling into question assertions regarding control of funds or other allegations made against them. Surname.

The release of Terraform Labs’ strategy for the DEBT Box lawsuit signals a strong challenge to the SEC’s actions, leading to doubts about how the regulator handled evidence and representations in the case their ongoing.

This development marks an important turning point in the legal dispute between Terraform Labs and the SEC, providing insight into the intricate complexities of the case and the meticulous scrutiny applied to the actions juridical. The upcoming decision on Terra’s request for summary judgment will certainly resonate in the landscape of cryptocurrency regulation and the interpretation of securities laws.

Source:

Terraform Labs seeks summary judgment in SEC case - TRADECOIN D2 (BETA)

Terraform Labs, the blockchain company embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC), made a significant move on December

tradecoind2.com

 

[tradecoind2]

Shiba Inu’s Shibarium will process transactions faster with the next hard fork​

Shibarium, the layer 2 solution that underpins the Shiba Inu, is on the cusp of achieving a significant leap in performance.

Shytoshi Kusama, the head of the project, recently revealed that Shibarium’s current transaction processing capacity is at a robust 200 transactions per second. But that’s just the tip of the iceberg.

According to Shiba Inu developer Kaal Dhairya, the upcoming hard fork will push these numbers even higher.< /span>

Scalability problem ​

In the blockchain world, scalability remains an important issue, with leading networks like Ethereum, Bitcoin, and others always trying to balance efficiency and security.

Ethereum processes about 13-14 transactions per second and Bitcoin processes about 4-7 transactions per second, but newer blockchains like Solana and Polkadot are pushing the boundaries with higher capacity.

For example, Solana claims to process 50,000 transactions per second, and Polkadot’s multi-chain design offers significant scalability advantages.

Hard fork của Shibarium ​

The Shibarium network has undergone a significant hard fork, migrating to the Sepolia network to improve scalability and efficiency (especially in the DeFi and NFT sectors).

This upgrade introduces a strategic token burning mechanism to strengthen the network’s economic model and potentially increase token value.

The Shibarium fork, an integral part of the network’s development, aims to reduce transaction costs, increase transaction speed, and provide greater utility for its native tokens.

Source:

Shiba Inu's Shibarium will process transactions faster with the next hard fork - TRADECOIN D2 (BETA)

Shibarium, the layer 2 solution that underpins the Shiba Inu, is on the cusp of achieving a significant leap in performance.

tradecoind2.com

 

[tradecoind2]

Binance Announces 40th Project on Launchpool: Fusionist (ACE)​

Binance has announced the anticipated addition of the 40th project on Launchpool – Fusionist (ACE). ACE, the native token of the Endurance blockchain, will take center stage as it powers Fusionist, a highly anticipated AAA-rated Web3 game.

The buzz surrounding the launch is palpable, with the Fusionist website going live this afternoon, just before Launchpool kicks off. Users will have the opportunity to stake their BNB and FDUSD into separate pools to farm ACE tokens over a period of 5 days, starting exactly at 07:00 on December 13, 2023 (Vietnam time). .

Binance plans to list ACE at 13:00 on December 18, 2023 (Vietnam time), announcing trading pairs such as ACE/BTC, ACE/USDT, ACE/BNB, ACE/FDUSD and ACE/TRY . To add a layer of exclusivity, a Seed Tag will be applied to ACE, hinting at its potential for growth and development within the Binance ecosystem.

Here are the key details about the Fusionist Launchpool:

– Tên token: Fusionist (ACE)

– Total token supply: 147,000,000 ACE

– Launchpool token reward: 10,290,000 ACE (7% of total token supply)

– Initial circulating supply: 21,969,520 ACE (14.95% of total token supply)

– Smart contract address: Endurance, BNB Smart Chain

– Staking terms: Requires identity verification (KYC)

– Hourly hard limit per user:

+ 6,860 ACE in BNB pool

+ 1,715 ACE in FDUSD pool

– Pools supported:

+ Stake BNB: Reward 8,232,000 ACE (80%)

+ Stake FDUSD: Reward 2,058,000 ACE (20%)

– Farming time: 06:00 December 13, 2023 to 06:59 December 18, 2023 (Vietnam time)

The Fusionist project merges elements of blockchain gaming and the social/gaming infrastructure layer through Endurance. Fusionist is the product of a team of seasoned gaming experts, leveraging Unity and HDRP technology to promise an unparalleled gaming experience.

Meanwhile, Endurance is a decentralized/social blockchain game that has existed since January 2023, providing an extended infrastructure layer with a full range of gaming and social options such as Expeditions, Auction House, ACEdomain, and testing. Beta test. With over 1.86 million token-holding wallets and 100 million transactions since launch, Endurance boasts a rapidly growing user base and activity.

The core of this ecosystem is ACE, the native token of Endurance Blockchain, which brings multifaceted benefits:

– Spend/Earn in-game: Facilitate purchases, tournament tickets, rewards… in Fusionist and upcoming games of Fusionist team and partners.

– Ecosystem participation: Enables trading of goods and services across the entire Endurance ecosystem, including domains and social products.

– Staking and governance: Empower ACE holders to stake tokens, enhance network security, and participate in important governance decisions.

– Gas Endurance Blockchain: Acts as the transaction fuel for all activities taking place on the Endurance Blockchain.

Fusionist Launchpool marks a pivotal moment in the convergence of blockchain and gaming, underscoring Binance’s commitment to driving innovative projects in the crypto space. As the countdown to launch begins, enthusiasts and investors alike await the dawn of a new era in gaming powered by blockchain technology.

Source:

Binance Announces 40th Project on Launchpool: Fusionist (ACE) - TRADECOIN D2 (BETA)

Binance has announced the anticipated addition of the 40th project on Launchpool – Fusionist (ACE). ACE, the native token of the Endurance blockchain, will

tradecoind2.com