Top news of the week
Coinbase Could Face SEC Enforcement Action For “Possible Securities Law Violation”
Would You like a feature Interview?
All Interviews are 100% FREE of Charge
Cryptocurrency exchange Coinbase has received a Wells notice from the U.S. Securities and Exchange Commission (SEC) suggesting further enforcement action. According to Coinbase, “legal threats” could potentially target staking programs, listed digital assets, wallets, or the Coinbase Prime service. The exchange’s chief legal officer, Paul Grewal, said the warning “came after Coinbase filed multiple proposals for registration with the SEC over the course of several months, and the SEC eventually filed all proposals. refused to respond,” he said. Coinbase CEO Brian Armstrong has called on cryptocurrency users to “choose a professional cryptocurrency candidate” after development.
FTX’s debtors agree to sell Mysten Labs shares for $95 million.
Amid FTX bankruptcy proceedings, the debtors of the defunct cryptocurrency exchange have approved a deal seeking to sell $95 million worth of preferred stock in Mysten Labs, the company behind the Sui blockchain. Court approval is still pending, as are other potential bids for the stock. In a related headline, FTX is seeking to recover $460 million of his allegedly embezzled client funds from venture capital firm Modulo Capital, which was heavily invested by Alameda Research last year. The investment was reportedly directed by his Sam Bankman-Fried, who faces multiple counts in federal court related to alleged fraud during his CEO days.
Building Blocks: Generation Y can use tokens to climb the wealth ladder
How to Bake Your Own DAO at Home — Only 5 Ingredients!
Do Kwon to be charged with fraud by US prosecutors hours after arrest
Just hours after being arrested in Montenegro, Terraform Labs CEO Do Kwon has been sued by US prosecutors in New York on eight separate counts, including involvement in commodity fraud, securities fraud, wire fraud, fraud and market manipulation. was indicted from Kwon is also facing criminal charges in Montenegro for allegedly falsifying travel documents, according to reports. South Korean prosecutors issued an arrest warrant for Kwon last September, and a red notification list was issued by Interpol a few weeks later. The charges against him relate to his alleged role in the collapse of his $40 billion Terra Luna Classic token and his TerraClassicUSD stablecoin in May 2022.
Mastercard settles stablecoin wallet transactions in APAC
Mastercard Begins Stablecoin Digital Wallet Integration, Allowing Asia Pacific Retail Customers to Use USD-Pegged Stablecoins Anywhere Mastercard Is Accepted The international payments company plans to partner with Australian stablecoin platform Stables to convert the USDC stablecoin into fiat currency and settle it on the network. The service will initially be available to users based in Australia, before expanding to Europe, the United States, the United Kingdom, and most of Asia Pacific.
Celsius Custody Account Holders Can Receive 72.5% Of Cryptocurrencies, Bankruptcy Judge Says
The judge overseeing the bankruptcy case of crypto lending firm Celsius Network has approved a settlement plan that will allow custody account holders to recover 72.5% of their crypto assets. The owner is given 30 days for him to confirm the terms. If they opt-in, the assets will be returned to him in two installments — 36.25% paid up front and 36.25% returned when the plan is settled (or at the end of the year). The defunct platform announced in February that NovaWulf Digital Management would act as a restructuring plan sponsor, claiming more than 85% of Celsius customers would recover around 70% of their crypto.
winner and loser
Bitcoin for the weekend (Bitcoin) is $27,157,ether (ethereum) and $1,734 and XRP and $0.41The total market capitalization is $1.15 trillion, according to Go to Coin Market Cap.
Among the 100 largest cryptocurrencies, this week’s top three altcoin risers are The Mask Network. (mask) 24.22%, flare (FLR) 22.23% and XRP (XRP) at 11.89%.
This Week’s Top 3 Altcoin Losers Are Arbitrum (ARB) -89.76%, unchanged (IMX) -25.82% and Toncoin (tons) -15.12%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
Beyond In-Game Assets: Blockchain Games, DAOs, Guilds, Ragequitting
Green Consumers Want Blockchain Supply Chain Transparency
most memorable quotes
“What has happened in the last few months just shows that Bitcoin enthusiasts and Bitcoin Maxis were right all along.”
Paolo AldoinoChief Technology Officer of Tether
“It’s not crypto vs Goldman Sachs or crypto vs institutions. It’s a race to see who can handle crypto better.”
“Stablecoins will play a pivotal role in the new financial system and will be the core of bridging the worlds of traditional and decentralized finance.”
Daniel LeeStable Chief Operating Officer
“A central bank digital currency is about monitoring Americans and controlling their behavior.”
Ron DeSantisGovernor of Florida, USA
“Bitcoin was designed as a response to Lehman Brothers in the 2008 financial crisis. It was designed because we cannot trust central authorities.”
Pascal GautierLedger CEO
“We are in grave danger of the entire strategic technology sector moving away from U.S. leadership.”
Jeremy AllaireCEO of Circle
Forecast for the week
Analysts Explain Bitcoin Will Likely Outperform All Crypto Assets After Banking Crisis
The banking crisis will trigger the start of the next crypto bull market, with Bitcoin likely to overtake all other cryptocurrencies, according to Mike McGlone, senior commodity strategist at Bloomberg Intelligence. there is a possibility.
The US economy is in recession as the US Federal Reserve is hesitant to ease monetary policy despite the banking crisis, McGlone said. This macro environment ultimately favors Bitcoin and outperforms all other cryptocurrencies.
“There are signs that Bitcoin is taking off as the S&P 500 could fall below 4,000 as much as Bitcoin can sustain above $25,000,” McGlone noted. I think it outperforms virtually all cryptos including,” he concluded.
FUD of the week
US Senator Ted Cruz tries again with new bill to block CBDC
US Senator Ted Cruz introduced a bill that would prevent the Federal Reserve from issuing central bank digital currencies “direct to the consumer.” This is because it “could be used as a financial surveillance tool by the federal government.” Cruz said the federal government “has no authority to unilaterally establish” a digital dollar. A similar bill was introduced by Cruz along with other Senators on March 30, 2022 to try to ban the Fed from issuing his CBDC directly to individuals. Almost 12 months later, the bill is still not past the introduction stage.
Hindenburg Research reports blocking of short positions
The report, which follows a two-year investigation by Hindenburg Research, claims that digital payments company Block “systematically exploits” its users, exaggerating user metrics and facilitating fraud. According to the report, blocking practices allowed users to set up fraudulent accounts, responding to a number of criminals using the platform to steal funds. Block labeled the report “substantially inaccurate and misleading” and declared that it would take legal action against the research firm.
European banks head into another uncertain weekend as default risks surge
European banks faced a new weekend of fear over their futures as Deutsche Bank shares plunged on the New York Stock Exchange on March 24 after a down day in the Frankfurt market. German bank stocks were affected by higher premiums against potential default risk. The 5-year credit default swap rose on the week and closed at 222 basis points on Friday. Concerns about European banks extend beyond Deutsche Bank. European shares of Commerzbank, Societe Generale and UBS also fell in European trading.
Best Features of Cointelegraph
Best and Worst Countries for Crypto Taxes — Crypto Tax Tips
Residence tax expert Elias Ahonen examines the best and worst countries in the world when it comes to cryptocurrency taxes. Where are the US and UK ranked?
Creating ‘Organic’ Generative Art from Robot Algorithms: Emily Xie, NFT Creator
For this Harvard graduate living in New York, the world simply disappears when creating generative art.
US enforcement agencies heat up on crypto-related crimes
Recent high-profile indictments by the Justice Department and cooperating agencies suggest the federal government intends to aggressively pursue suspected cryptocurrency criminals in the United States and abroad.
The most engaging read on blockchain. Delivered once a week.