BlockFi Pushes Back On FTX And Three Arrows Capital Repayment

Bankrupt crypto lender BlockFi is reportedly trying to block attempts by FTX and Three Arrows Capital (also bankrupt) to retrieve millions of dollars to pay back their creditors. 

BlockFi has claimed that, by its estimates, legal battles with FTX and Three Arrows Capital could cost its customers up to $1 billion. 

BlockFi Looks To Stop FTX And 3AC Repayment 

BlockFi claimed in a 21st August filing at the New Jersey bankruptcy court that its own creditors must not be pushed to the back of the line because FTX’s creditors were harmed thanks to the exchange allegedly misappropriating the $5 billion that BlockFi had initially lent it. In an attempt to safeguard the interest of its creditors, BlockFi has stated it will actively look to block attempts by FTX and Three Arrows Capital to claw back billions to pay off their own creditors. The crypto lender argued that its bankruptcy directly resulted from the fraud perpetrated by FTX and 3AC. BlockFi stated in its filing, 

“FTX seeks to recover on over $5 billion of claims filed against the BlockFi estates at the direct expense of the ultimate victims of FTX’s fraud: BlockFi’s clients and other legitimate creditors. To prevent further injustice to the creditors of BlockFi’s estates, the Court should disallow the FTX Claims under the doctrine of unclean hands.”

FTX had also given $400 million to BlockFi in June 2022 in an attempt to remedy the situation. This was in addition to purchasing BlockFi equity pursuant to a loan agreement, the filing added. However, BlockFi has stated that this was not a standard loan agreement. Instead, the crypto lender has stated that it was an unsecured, 5-year term which was also well below market rates. It further added that repayments were not due until the firm would supposedly mature. 

BlockFi called FTX’s investment a gamble, one that BlockFi’s creditors should not be held liable for. BlockFi stated in its argument, 

“Just because FTX’s fraudulent actions caused FTX’s bet to fail does not mean BlockFi’s creditors are now somehow liable to refund the purchase price.”

BlockFi Owes Billions To Creditors 

Several estimates have shown that BlockFi reportedly owes up to $10 billion to over 100,000 creditors. This figure includes $1 billion to three of its largest creditors and $220 million to bankrupt crypto hedge fund Three Arrows Capital. Three Arrows Capital’s creditors have reportedly expressed considerable frustration with the slow pace of bankruptcy proceedings. 

BlockFi has argued that Three Arrows Capital, like FTX, was not entitled to repayment and claimed that the crypto hedge fund used fraudulent means to borrow the funds. Three Arrows Capital had previously taken loans from BlockFi, on which it subsequently defaulted. This led to the foreclosure on the collateral, leading to what liquidators have described as a $220 million preferential payment to BlockFi. 

BlockFi’s creditors have also accused the company of ignoring several warnings and red flags when dealing with FTX and its sister concern Alameda Research, just months prior to the FTX collapse. The creditors claimed that the CEO of BlockFi ignored advice from BlockFi’s risk management team, which had stated that Alameda Research’s balance sheet primarily consisted of FTX’s own FTT token. However, the CEO dismissed such concerns and urged the risk management team to get comfortable with Alameda Research being a borrower similar to Three Arrows Capital. 

“As early as August 2021, BlockFi’s risk management team was advised that Alameda’s balance sheet was largely comprised of ‘~7bb unlocked FTT and 11bb total including locked tokens based on unaudited financials. This set off alarms at BlockFi. Mr. Prince dismissed the concerns, urging the risk team to learn to ‘get comfortable [with Alameda] being a three arrows size borrower, just with FTT and other collateral types instead of GBTC shares.”

However, BlockFi’s creditors settled with the company last month on moving ahead with a repayment plan. BlockFi collapsed just weeks after FTX, filing for Chapter 11 bankruptcy on the 28th of November.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: BlockFi Pushes Back On FTX And Three Arrows Capital Repayment

SBF Pleads Not Guilty To New Charges, Complains About Jail Food

Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to seven new charges brought against him in a Manhattan federal court on Tuesday. 

The FTX founder was making an appearance in court after spending ten days in jail and also raised complaints about the food being served in jail. 

SBF Pleads Not Guilty To New Fraud And Conspiracy Charges 

The new charges, all related to fraud and conspiracy, were handed down on the 14th of August after prosecutors alleged that Bankman-Fried had used over $100 million of stolen customer funds and assets to donate to electoral candidates and politicians. The court had revoked his earlier bail after the United States Department of Justice alleged that the former CEO had repeatedly tried to influence witnesses and interfere with a fair trial through public shaming and harassment. This was Bankman-Fried’s first court appearance since his bail was revoked on the 11th of August. Since then, SBF has been in custody at the Metropolitan Detention Centre in Brooklyn. 

According to data from the Federal Election Commission, Bankman-Fried had reportedly given over $40 million in political donations in 2022. Other big donors from Bankman-Fried’s circle included Ryan Salame, former co-CEO, and Nishad Singh, the former director of engineering at FTX. Federal Election Commission data showed that Salame had donated over $23 million almost exclusively to Republican candidates and related PACs. Meanwhile, Nishad Singh had given around $8 million during the 2022 midterm election cycle. 

Complaints About Jail Food 

During his hearing, lawyers representing SBF informed the federal court that jail authorities had failed to provide him with a vegan diet as he had requested. Mark Cohen, the lawyer representing the former billionaire, stated that the lack of adequate food at the Brooklyn Metropolitan Detention Centre was hampering Bankman-Fried’s preparations for his trial, which is set to begin in October. Mr. Cohen also told the court that his client was not provided with the attention deficit hyperactive disorder (ADHD) drug Adderall. He also added that his client’s supply of Emsam, used to treat depression, was running low. 

Judge Sarah Netburn assured Mr. Cohen that she would ask the United States Justice Department’s Bureau of Prisons, which is in charge of running the jail, to address concerns related to SBF’s medication. She added that while she was reasonably confident that the prison offered vegetarian food, she was unsure if vegan food was available. Meanwhile, the Bureau of Prisons released a statement saying all inmates had access to appropriate medicines, healthcare, and hot meals. It further added that the facility ensures the provision of nutritionally healthy meals and follows the requirements of a national menu that is analyzed to ensure all dietary requirements are met. 

Following the hearing, Bankman-Fried sought support from his mother, speaking to her at length. 

“After the hearing, Bankman-Fried spoke to his mother, Stanford Law School Professor Barbara Fried, across the low partition between the courtroom well and the galley.”

Preparations Underway For October Trial 

Meanwhile, Sam Bankman-Fried and his legal team are working hard in preparation for his trial, set to begin in October. Lawyers representing SBF had even requested that he be allowed to stay out of jail on weekdays, arguing that this would allow them to focus on building a defense for the disgraced FTX founder. The judge refused to grant this request. 

However, on the 22nd of August, Bankman-Fried was granted a short release from prison from 8:30 am to 3 pm. During his release, he was present in a supervised courtroom with his lawyers as they prepared for the upcoming trial. Meanwhile, the jury has also been issued guidelines by prosecutors on how to approach the trial. According to the guideline, the jury has to treat each of the seven charges differently. They were also requested not to let their verdict on one charge influence their decision on any of the other six charges. 

FTX was the second-largest cryptocurrency exchange, valued at around $32 billion. However, its bankruptcy sent shockwaves through the crypto and financial world and impacted several projects.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: SBF Pleads Not Guilty To New Charges, Complains About Jail Food

Balancer Discloses Critical Vulnerability Affecting Its V2 Pools

Liquidity protocol Balancer has disclosed that it has discovered a critical vulnerability that has impacted over 100 of its v2 pools spread across eight different blockchains. 

The team at Balancer has posted a list of the impacted pools on its GitHub page while also activating its emergency subDAO. 

Critical Vulnerability Discovered 

Balancer announced the discovery of the vulnerability in a post on X (formerly Twitter), stating that it had initiated emergency mitigation features. The protocol also urged users to withdraw funds from the impacted pools. 

“Balancer has received a critical vulnerability report affecting a number of V2 Pools. Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk. Users are advised to withdraw affected LPs immediately.”

The protocol stated that the issue had been mitigated in about 80% of the impacted pools. Meanwhile, the remaining 20% of the impacted pools represented around 4% of Balancer’s total value locked (TVL). Balancer stated in its forum, 

“Balancer Labs received a report of a critical vulnerability affecting a number of pools. We were able to mitigate over 80% of these; the remaining funds at risk represent about 4% of Balancer TVL.”

Funds Remain Safe 

The protocol also assured users that, at this point, the vulnerability had not been exploited, and all funds remained safe. Balancer added that pools labeled mitigated were safe but still urged users to migrate to safe pools or withdraw for the time being. The team also urged liquidity providers to exit their positions from impacted pools immediately. Jeff Bennett, a software engineer at Balancer Labs, said in a post, 

“We believe funds in the mitigated pools (labeled ‘mitigated’) are safe, but nevertheless strongly recommend timely migration to safe pools or withdrawal. Pools that could not be mitigated are labeled ‘at risk.’ If you are [a liquidity provider] in any of these pools, please exit immediately.”

Users have heeded the warnings from the protocol following the discovery of the vulnerability. As a result of users withdrawing liquidity, the protocol’s total value locked dropped by nearly $100 million amidst the rush of withdrawals. Balancer has also stated that it would be conducting a thorough post-mortem of the vulnerability and would publish details about it and how it was addressed soon. 

This is not the first time Balancer has asked users to pull liquidity from its pools. In January, the protocol had advised liquidity providers to pull liquidity citing “ongoing issues. 

Balancer’s Native Token Registers Significant Drop 

The unfolding situation unsurprisingly had an immediate impact on the market. As a result of the discovery of the vulnerability, Balancer’s native BAL token registered a drop of over 4%. However, the value has recovered with the protocol moving swiftly to mitigate the vulnerability and communicate with users. Currently, the token is trading at around $3.51, according to data from CoinMarketCap. 

Meanwhile, Spencer Hughes, a Blockworks Research Analyst, observed that the discovery of the Balancer vulnerability demonstrated the fact that smart contract audits cannot guarantee complete safety. However, he added that these audits never claimed to be a hundred percent foolproof. 

“With ~$830M TVL, a Balancer exploit would have left one of the most prominent DEXs for dead. Emergency SubDAOs are definitely very important for all DeFi protocols, and it is great that they were able to act before anything malicious could occur.”

The Curve Hack

While Balancer has moved fast to mitigate any potential damage, the DeFi space has been reeling from a spate of exploits. Recently, an exploit in the Curve Finance platform put over $100 million in crypto at risk, significantly amplifying concerns around the decentralized finance (DeFi) ecosystem. At the heart of the exploit was a re-entrancy bug that was found in Vyper, a programming language critical to Curve’s system.

The vulnerability allowed hackers to drain several stablecoin pools on Curve, leading to a significant disruption of the price and liquidity of several DeFi services. Other major exploits in the DeFi space include the Ronin exploit, which saw the Ronin Network lose a staggering $622 million. The exploit was a result of a breach in the Ethereum sidechain. BadgerDAO also fell victim to hackers, losing around $80 million to hackers.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Balancer Discloses Critical Vulnerability Affecting Its V2 Pools

Litecoin and Filecoin Hope For A Positive Response As Pomerdoge Makes A Case For The Next Market Bull Run

If you are searching for a project to multiply your investment, Pomerdoge is the best option in the crypto world. Experts are highly bullish on it, and its market value can rise by 40x by the end of the year.

In fact, Litecoin (LTC) and Filecoin (FIL) holders have also shifted their sides to join this new project.

● has recently listed Litecoin (LTC) on its exchange.
● Filecoin (FIL) has announced plans to launch a developer summit in September.
● Pomerdoge has progressed toward 40x profit.

Click Here To Find Out More About The Pomerdoge (POMD) Presale

Litecoin (LTC) Secures First Listing Since The Halving

Recently, the Litecoin (LTC) network underwent its halving event on August 2. This third edition of the Litecoin halving has reduced miners’ rewards from 12.5 LTC to 6.25 LTC. However, the halving event has failed to make any positive impact on the price of Litecoin (LTC).

The market value of Litecoin (LTC) has dipped by more than 20% in the past month. Subsequently, the current trading price of Litecoin (LTC) has tumbled to $83.11.

Meanwhile, Litecoin (LTC) secured its first listing post-halving. Recently,, a leading crypto trading platform, announced the mega listing of Litecoin (LTC).

Filecoin (FIL) Announces Dev Summit

To keep its community engaged and active, Filecoin (FIL) recently announced the first-ever Dev Summit. As per the official notification from Filecoin (FIL), the summit will take place in September 2023 in both Ireland and Singapore.

Under this summit, Filecoin (FIL) will provide developers with a chance to shape the network’s protocol and tooling. However, the price movement of Filecoin (FIL) has remained in the red zone for the past many weeks. Subsequently, the trading price of Filecoin (FIL) has plunged by more than 11% in the last month.

At press time, a Filecoin (FIL) token can be purchased at $4.12.

Pomerdoge (POMD) Presale Surges In Value

A recent market report has suggested that the global blockchain gaming market size can surge to $301.53 billion over the next seven years. Subsequently, it has also become a favorite of investors looking to strengthen their portfolios.

To make the most out of this growth opportunity, Pomerdoge, a new P2E meme coin, has unveiled a hybrid business plan. Pomerdoge has the best features of two verticals: the popularity of meme coins, and the utility of gaming tokens. It will soon introduce a new P2E game, Pomergame, with several exciting features. One of them is allowing players to build their avatars, and create customized in-game assets.

Another important component of the platform is Pomerplace. It will provide an arena where players can compete against each other to earn rewards. They can also sell or trade their customized in-game items at Pomerplace to generate extra income. Pomerdoge has announced releasing 7,777 NFTs during the presale. However, only POMD owners will be allowed to purchase these NFTs, which will offer a range of benefits.

The presale phase of Pomerdoge is undergoing the first round, and a POMD token costs $0.008. Notably, it was just $0.007 at the time of the presale launch. Experts express confidence that the token’s value will jump by 1,700% during the presale. It is also likely to offer a 4,000% ROI to its presale investors by the end of 2023. After the presale, POMD tokens will be available to purchase on the Uniswap exchange.

Find out more about the Pomerdoge (POMD) Presale Today


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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Original Post: Litecoin and Filecoin Hope For A Positive Response As Pomerdoge Makes A Case For The Next Market Bull Run

BTC/USD Back to 26034 Level: Sally Ho’s Technical Analysis – 23 August 2023

BTC/USD Back to 26034 Level:  Sally Ho’s Technical Analysis – 22 August 2023

Bitcoin (BTC/USD) moderated early in the Asian session as the pair encountered expanded volatility and then orbited the 26034 area, representing the 38.2% retracement of the appreciating range from 25610 to 26296.78.   Stops were elected below the 25872 area during a pullback, representing the 61.8% retracement of the same appreciating range, and bottomed out around the 25814 area before BTC/USD climbed to the 26260.25 area.  The recent fresh multi-month low around the 25234.76 area represented a test of a major downside price objective around the 25128.94 area that is associated with selling pressure that increased around the 31862.21 and 30421.29 levels in July.   Major Stops were elected below the 27620.46 area during the decline, another downside price objective linked to recent downward pressure around the 30222 and 29665.27 areas.  Major Stops were also elected below the 27991.29 area, representing the 23.6% retracement of the broader appreciating range from 15460 to 31862.21.  

Areas of technical support and potential buying pressure in appreciating ranges from the 15460 and 19568.52 levels include the 23661, 22793, and 21725 levels.   Following recent selling pressure, areas of technical resistance and potential selling pressure include the 26798, 27139, 27728, 27766, 28316, 28548, 29154, 29330, and 30443 levels.  Above the market, upside price objectives include the 30526, 30611, 30762, and 31145 areas.  Upside price objectives related to other levels of buying pressure include the 32125 and 33569 areas, and Stops are cited above additional upside price objectives around the 32043, 34531, 34658, and 35912 areas.   Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 27525.77 and the 50-bar MA (Hourly) at 26083.17.

Technical Support is expected around 24440.41/ 23270.10/ 22769.39 with Stops expected below.

Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.                                   

View Yesterday's Post:  

Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Original Post: BTC/USD Back to 26034 Level: Sally Ho’s Technical Analysis – 23 August 2023

BIS says regulate crypto - don’t ban it

The Bank for International Settlements (BIS), in its recent study, emphasised the importance of judiciously regulating cryptocurrencies rather than imposing outright bans. 

Crypto is a mirage

The study hinted at the increasing allure of digital currencies but cautioned against their mirage-like appeal. The research by BIS, a global financial institution known as the "central bank for central banks", pointed out the swelling enthusiasm for digital currencies. They cited their promise for faster and cheaper remittances, increased financial inclusion, and potential as an alternative investment vehicle.

However, it's not all sunshine and rainbows; the BIS also underlined some inherent vulnerabilities. These include potential misuse for illicit activities, energy concerns associated with crypto mining, and heightened market risks.

A complete ban is not the answer

The BIS study further stressed that simply banning these digital currencies might not be the solution. Outlawing them could stifle innovation and push activities to unregulated sectors, increasing risks. 

Instead, the institution recommends establishing robust regulatory frameworks. These frameworks should prioritise transparency, combat illicit activities, and protect consumers while fostering technological advancements in the financial space.

The paper concludes by highlighting that while cryptocurrencies are indisputably transformative, their optimal utility can only be realised in a well-regulated environment. It's a balance of harnessing their potential while ensuring they don't jeopardise the broader financial ecosystem's stability.


It should be borne in mind when reading the BIS report that this organisation is set on seeing central bank digital currencies (CBDCs) rolled out across the globe. CBDCs are only an extension of the existing fiat currencies but they can also be used to totally control spending, right down to the individual level.

The BIS admits to being worried about cryptocurrencies going elsewhere if they are banned in certain countries, so their thinking is to put crypto into a regulatory straitjacket in order to stop private money in its tracks. 

To central banks and central planners decentralised money is anathema. They see the danger to the continuance of the fiat monetary system that bitcoin and cryptocurrencies present and will fight tooth and nail to suppress this new technology in order to be able to establish CBDCs and thereby obtain ultimate control over citizens.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: BIS says regulate crypto - don’t ban it

LBank Launchpad Addresses False Rumors Surrounding Project PINs Launch

In light of recent community chatter, LBank Launchpad has stepped forward to address misleading speculations regarding its forthcoming Project PINs launch. Set to debut on August 31st, the LBank Launchpad has taken it upon themselves to correct the record and prioritize the safety of its users.

Recent rumors have been suggesting privileges for certain individuals, including direct purchase access to Project PINs, obtaining extra allocations, or guaranteed whitelist spots. LBank Launchpad firmly dispels these rumors, assuring the community that no such privileges exist.

For those interested in the Project PINs token sale event, it is scheduled exclusively for August 31st, 6:00 AM (UTC) on LBank Launchpad. Any information regarding this launch should be verified using the official LBank Launchpad website: LBank Launchpad's Project PINs.

Users and interested parties are encouraged to exercise caution and verify any information they come across regarding the Project PINs launch. For questions or further clarity, LBank Launchpad's dedicated customer support team stands ready to assist.

As always, the community's unwavering support and enthusiasm for LBank Launchpad projects are deeply appreciated.

For more details, please check

About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.




LBK Blockchain Co.

Original Post: LBank Launchpad Addresses False Rumors Surrounding Project PINs Launch

Recur Sinks Despite Setting Sail With Big Names

The NFT platform Recur has shut down operations despite raising $50 million and having support from industry bigwigs. 

Big-Name Partnerships Fade Away

Despite its initial promising trajectory and significant partnerships, NFT startup Recur has made the disheartening announcement that its Web3 platform is shutting down. The platform's inability to withstand the challenges of the crypto winter has led to this unexpected decision.

Recur had set sail with grand ambitions, boasting partnerships with iconic brands such as Hello Kitty and Nickelodeon. However, the cold winds of the crypto winter have taken a toll on the platform's sustainability. 

The firm acknowledged that its core features would gradually phase out over the coming months, including the withdrawal of NFTs, cashing out stablecoin balances, and trading collectibles on Recur-hosted marketplaces.

A Shift In The NFT Space

Established in 2021, Recur positioned itself as a provider of Web3 "building blocks" for businesses, enabling the creation of in-game assets, loyalty programs, and digital collectibles through NFTs. However, Recur's fate is not unique, as the broader NFT space witnessed the closure of companies like Nifty, which had also secured partnerships with big media titles.

With over 380,000 minted NFTs, Recur is working to ensure the legacy of these digital collectibles. The company plans to migrate metadata and media for its NFTs to the InterPlanetary File System (IPFS), a decentralized file-sharing network. Additionally, other assets will be hosted on Filecoin's network, indicating Recur's commitment to maintaining the digital artifacts it helped create.

A Shift In Value

Recur's journey included milestones like the Recur Pass, which was initially sold as an NFT for $300 and granted holders early access to NFT drops. Despite an impressive early sale of a Recur Pass for $88,888, current prices reflect a stark contrast, with the cheapest pass listed on OpenSea for 0.001 ETH (about $1.69).

Recur had garnered notable attention with a $50 million Series A funding round in late 2021, valuing the company at $333 million. Esteemed investors like Gary Vaynerchuk, the Winklevoss twins, and Ethereum co-founder Joe Lubin participated in an earlier $5 million seed funding round. Despite the initial momentum, Recur's journey underscores the volatility and challenges inherent in the NFT landscape.

In conclusion, Recur's announcement to shut down its Web3 platform serves as a sobering reminder of the challenges faced by NFT-focused companies in the ever-evolving crypto space. The dissolution of big-name partnerships and the necessity to adapt to changing market dynamics highlight the fragility of even the most promising ventures.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Original Post: Recur Sinks Despite Setting Sail With Big Names

Terra Freezes Site After "Phishing" Hack

A phishing site has seized control of the Terra website, leading the site developers to sound the alarm and eventually freeze the website. Now Phishing Site

Over the weekend, the website fell under the control of hackers who were using the site to launch phishing attacks on whatever users were left on the platform. 

Kiruse, an esteemed web3 developer at Terra, took to Twitter to sound the alarm about this phishing site that's masquerading as the authentic Terra website. The site's sinister objective revolves around duping unsuspecting users into divulging their highly sensitive and confidential information.

The domain in question, terra(dot)money, is presently under intense scrutiny due to its alleged involvement in this phishing endeavor. The perpetrators manipulated the website to pilfer sensitive user data, employing tactics that led users to unwittingly reveal their seed phrases, putting both cryptographic keys and funds in severe jeopardy. 

Alerts and Precautions

Terra's response was swift. On August 19, the platform issued a stern warning against engaging with any site under the Terra money domain. This caution was reiterated the very next day, on August 20. Further efforts to bolster safety and security came from Station Wallet on August 21, advising users to steer clear of the Station desktop and mobile apps until their safety can be ensured.

The team has also issued a strict directive for users: rely solely on the official communication channels—namely X (Twitter), Discord, and Telegram. This strategic move is aimed at ensuring that users receive authentic and trustworthy information during this period of uncertainty.

Temporary Shutdown And Road Ahead

In a bid to fend off these phishing scams, the Layer-1 blockchain Terra took the proactive step of temporarily shutting down its website. 

The team released an official statement on X, 

"The terra(dot)money domains have successfully been frozen to prevent further user phishing scams, but a full resolution is still underway. Our team has been working around the clock to rectify this issue, but we’ve encountered delays with some third-party responses.”

Terra is still recovering from the devastating crash of the Terra/LUNA ecosystem last year. The company is desperately attempting to rebuild its reputation by replacing CEO Do Kwon, who was arrested and then released on bail. Furthermore, news of undisclosed wallets containing $160 million worth of digital assets belonging to Do Kwon has not helped his case. It remains to be seen if the Terra team is able to deal with the new phishing attack on top of its existing troubles.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Terra Freezes Site After "Phishing" Hack

VeraViews and Alkimi Exchange Forge New Partnership to Revolutionize Digital Advertising

Two pioneering companies in the blockchain-based advertising landscape—VeraViews, under the Verasity ($VRA) umbrella, and Alkimi, a decentralized advertising exchange built on Ethereum – have announced their new joint venture today on August 22. The duo claims that their collaboration has the potential to redefine what's achievable in digital advertising, particularly in combating lack of transparency and inefficiency.

As Verasity has long argued, the advertising industry has grappled with challenges around transparency. Advertisers are often in the dark about where their ads appear, raising concerns over brand safety and ROI. The new partnership looks set to address these long-standing issues by integrating VeraViews' 'Proof of View' (PoV) technology into Alkimi Exchange's ad platform.

Within the collaboration, Alkimi's network of publishers can tap into VeraViews' ad stack, thus gaining access to a verified audience within VeraViews' network. Simultaneously, VeraViews will be able to scale up its monetization through Alkimi Exchange’s robust network of advertising partners.

“The decentralised advertising ecosystem is still nascent, and we’re delighted that VeraViews and Alkimi Exchange have found ways to leverage our innovative technology solutions in synergy, working together to achieve our common goal of bringing trust and transparency to the programmatic advertising supply chain,” says David Murray, Demand Director at VeraViews. 

Ben Putley, the CEO & Co-Founder of Alkimi Exchange, adds, "Our collaboration symbolises not just a mutual understanding of our industry’s future, but also a shared commitment to drive sustainable growth, forge new pathways, and redefine the boundaries of what’s possible. "


Broader Impact on the Advertising and Blockchain Landscape

Verasity has already been a strong advocate for using tech-based solutions to battle chronic challenges that plague digital advertising for several years. Its technology is already integrated into several significant video hosting and publishing platforms, including its notable partnerships with Brightcove Marketplace and Hoopla Digital.

The integration between VeraViews and Alkimi Exchange could serve as a significant step in eradicating some of these pervasive issues – which according to British newspaper The Guardian affects a whopping 25 percent of all digital advertisements.

Should this alliance between VeraViews and Alkimi Exchange demonstrate success in mitigating fraud and increasing transparency, it may pave the way for broader adoption within the burgeoning blockchain sector – and in turn revolutionize an industry that is estimated to rise to more than a trillion US dollars annually in the coming years. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: VeraViews and Alkimi Exchange Forge New Partnership to Revolutionize Digital Advertising

Is Elonator Coin Next To Merge With X? Dogecoin’s Connection With Elon Musk Increases Hopes of Integration For Top Meme Coins

A connection between meme coins and popular social media platforms has altered how we perceive meme cryptos. Dogecoin (DOGE)’s playful attitude may find a new home and utility on X, formerly known as Twitter. Elon Musk, an elusive tech tycoon, is at the heart of this enticing proposition. Musk's well-documented liking for meme coins has aroused the interest of both enthusiasts and bankers. Do Elonator Coin (ETOR) and Dogelon Mars (ELON), two Elon-themed meme coins, also have the possibility of future integration with Could this be the beginning of a cryptocurrency revolution led by top meme coins?

Will Dogecoin’s Token Integrate With

Dogecoin began as a playful jest and quickly captivated the hearts of a global community. Dogecoin has proved its capacity to transcend traditional concepts of digital assets with its unique Shiba Inu logo and lighthearted approach, which piqued interest in its possible inclusion into a platform as significant as Twitter/X. The incorporation of Dogecoin into X might result in the widespread adoption of digital assets.

Dogecoin's incorporation into Twitter's redesigned platform, X, gives a fascinating potential to alter the convergence of social media and cryptocurrency. This possible collaboration might not only enhance Dogecoin's standing in the crypto realm but also make the digital asset ecosystem more accessible and entertaining for new investors. Integrating X and Dogecoin could bridge the gap between online culture and technology.

Dogelon Mars: A Distinct Theme With A Playful Charm

A dog-themed meme currency, Dogelon Mars operates on the Ethereum blockchain. It takes the same route as other digital currencies like Dogecoin, Shiba Inu, and Floki Inu in its meme-centric focus. Its name is a mix of Dogecoin and Elon Musk, a multibillionaire businessman and outspoken Twitter supporter of Dogecoin. This currency has sparked considerable attention, raising the issue of whether it can follow in the footsteps of Dogecoin and benefit from integration with Twitter's X platform. 

Musk's participation in Dogelon Mars, while not as obvious as his involvement with Dogecoin, demonstrates Musk's ability to expand his influence beyond a single cryptocurrency. As Musk's space exploration efforts gather traction, Dogelon Mars' community-driven attitude matches his goal, creating a beneficial relationship that might lead to increasing demand and possible price increases.

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Elonator Coin Next In Line For Integration To

The Elonator token was designed with a special combination of comedy, cultural significance, and promising investment opportunities. It seeks to write a new chapter in the history of meme-based digital assets. With this innovative strategy, the token may significantly advance the utility and adoption of cryptocurrencies in addition to acting as a speculative tool. 

Elonator supports a project that is driven by the community and benefits all of its investors. This dedication goes beyond the typical meme coin incentives. Investors receive significant rewards, including a brand-new Tesla. The Elonator protocol is further advanced than the invention of a passive revenue source. It also resolves a number of issues that have plagued the crypto industry thus far. The creation of a strong and varied community is Elonator's top aim.

Elonator's possible integration with Twitter's newly renamed platform, X, carries the promise of a mutually beneficial connection that may completely alter the parameters of online interaction. Users might encounter a fresh manner of dealing with cryptocurrencies by integrating Elonator's capabilities into the X platform. 

It’s Time To Join Elonator Presale

Elon Musk’s move to rename Twitter as X heralds a new age of possibilities, suggesting an intention to expand beyond its existing identity. As Twitter/X attempts to revolutionize the user experience, the inclusion of Dogecoin appears to be a bold move toward embracing the unorthodox and promoting unique interactions. And this can only mean good things for the new meme coins emerging.

This inclusion acts as a catalyst as more people get interested in digital currencies, boosting awareness and adoption to new heights. It's time to invest in the Elonator Coin presale and be part of the future when the lines between social interaction and finance are redefined. As more top meme coins move to integrate with, the growth and ROI opportunities will only continue to grow, too.

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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Original Post: Is Elonator Coin Next To Merge With X? Dogecoin’s Connection With Elon Musk Increases Hopes of Integration For Top Meme Coins

El Salvador stronger after IMF warning not to adopt Bitcoin

When El Salvador adopted Bitcoin as legal tender two years ago, the IMF was scathing of the move, and warned of dire consequences. Two years later and El Salvador is flourishing.

IMF against decentralisation

Max Keiser, pro Bitcoin entrepreneur, now living in El Salvador, was interviewed on the Swan Bitcoin YouTube channel, where he gave his thoughts on the IMF and how El Salvador is on a much better path.

Keiser started by saying that in his view the IMF was akin to a central bank, and that central banks do not like decentralised money, and that the IMF does not like the idea that El Salvador can adopt Bitcoin and decentralise itself away from the fiat monetary system.

Years of US exploitation

Keiser quoted John Perkin’s book “Confessions of an Economic Hitman” which tells of US-backed hitmen who he claims were out to instigate coups and topple governments.

He said that the US always looked upon Latin America as its own “backyard” and that it was there to be controlled with the help of huge multinational corporations such as the United Fruit Company which heavily exploited the countries in which they were based.

Keiser said that since Bitcoin came into being with its decentralised and sound money, it was putting central banks out of a business that has been perpetuated for 300 years and would end up making them extinct, and in the process also make the IMF irrelevant. 

El Salvador’s energy program

One of the biggest excuses for detractors maligning Bitcoin is its heavy use of energy for its proof-of-work consensus. However, Keiser explained how El Salvador will use geothermal energy to supply the power for Bitcoin mining.

Nevertheless, the lead time for developing such an infrastructure is around five years, therefore the country is developing its wind and solar plants to help fill in the gap until volcano power is fully harnessed and online. $1 billion was raised for this project, of which $250 million has already been allocated.

Keiser talked of how in the future countries will compete to provide the Bitcoin hashrate, and how El Salvador was the only country in the world to have a pro-Bitcoin mining policy right now. 

The IMF and central banks across the world should be very worried. Financial technology has moved on and will leave all these legacy financial institutions in the dust of yesterday.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: El Salvador stronger after IMF warning not to adopt Bitcoin

Finst becomes first Dutch cryptocurrency platform to release an extensive Proof of Reserves

According to LBank's latest announcement:

As a crypto investor, getting access to reliable insights into an exchange’s reserves and overall safety should be the norm. 8 months only after its launch, Finst becomes the first and only Dutch cryptocurrency platform to unveil an extensive Proof of Reserves audit conducted by AuditNow, a reputable and independent Dutch audit firm.

The audit was skillfully led by AuditNow’s CEO, Daniël Waknine, a distinguished member of the World Compliance Association who has previously been collaborating with esteemed institutions such as BNP Paribas and ING holding.

As part of its Proof of Reserves audit, Finst has developed a comprehensive framework which provides full transparency on its structure, operations, assets, liabilities, business activities and overall safety.

Challenging traditional Proof of Reserves limitations

Traditional Proof of Reserves audits merely focus on an exchange’s on chain holdings, with a scope often being limited to certain crypto assets, thus excluding the cash reserves of an exchange and its liabilities. Besides, traditional PoR audits do not verify whether an exchange has an effective segregation of assets in place, which is key in providing maximum safety as it prevents commingling of assets.

Julien Vallet, CEO & co-founder, commented: “Our analysis of various Proof of Reserves (PoR) statements highlighted a need for greater clarity in this area. Traditional PoR tend to leave important questions unanswered for investors, which is why we decided to develop a new standard which goes far beyond the verification of on-chain holdings.”

The outcome of Finst’s Proof of Reserves audit

The results of this thorough and independent audit confirmed that Finst holds the entirety of its clients’ assets on a full reserve basis (1:1) and has an effective segregation of assets in place through a bankruptcy-remote vehicle. Additionally, the audit verified the following key points:

The exchange also confirmed that it will renew its comprehensive Proof of Reserves audit at least every 6 months to ensure continuous and transparent information for its clients.

Julien Vallet, added: “Cryptocurrency investors rightfully deserve to know how well they are protected, especially in the wake of recent global exchanges collapses. We were surprised to see that no Dutch crypto platform has ever released a Proof of Reserves, and we firmly believe that this should become a standard practice. We extend an open invitation to all crypto platforms to join us in embracing this vital initiative so that we can collectively enhance the transparency and safety of the entire industry.”

To learn more, please read the Proof of Reserves statement (EN).

About Finst

Finst is the fastest-growing cryptocurrency exchange in The Netherlands and offers a best-in-class investment platform together with institutional-grade security standards and 82% lower trading fees. Finst is led by the ex-core team of DEGIRO and is registered as a Crypto Service Provider with De Nederlandsche Bank (DNB). Finst aims to become the largest and most trusted cryptocurrency platform in Europe by enabling retail investors to benefit from the same opportunities and tools as professional traders. For more information visit

Original Post: Finst becomes first Dutch cryptocurrency platform to release an extensive Proof of Reserves Refutes Report Claiming User Information Was Leaked

The team behind has vehemently denied a report that claimed the personal data of over 100,000 of its users had been leaked. 

It was claimed in a report that Banteg, a core contributor to Yearn Finance, had published scraped details of users, including Twitter usernames and addresses. Denies Report 

The report suggested that data posted by a pseudo-anonymous developer for Yearn Finance, Banteg, was leaked information. According to the report, the information published contained scraped details of over 100,000 users. However, the team countered the report, stating that the information published by Banteg came from scraping its public API. In a post on X, the official feed stated the report was basically saying we got hacked by someone who simply looked at our Twitter feed. The post also called out the publication that published the report. 

“This is just someone scraping our public API that shows the association between public wallet addresses and public Twitter usernames. It’s like saying someone hacked you by looking at your public Twitter feed.”

The post by also received input from X’s Community Notes contributors, stating, 

“The underlying data is public, and anybody can work it out by reading a block explorer: if you buy a share, 5% goes to the creator’s wallet, and he will have needed to fund his wallet. The database only scraps that public info.”

Banteg’s Original Post 

Banteg had published a repository containing publicly available scraped data, including critical details of users on the platform on GitHub. The details include wallet addresses on Base and the corresponding Twitter usernames of over 100,000 users. Banteg stated in a post, 

“101,183 people have given access to post as them, leaked db (database) indicates.”

He also drew attention to’s permissions, insisting that users had granted the app to post on their behalf without a complete understanding or consent. Notably, Banteg’s post regarding the data came after a post from blockchain analytics service Spon-On-Chain, which noted that’s API revealed specific information not available to typical users of the app. Spot-On-Chain also gave an example of this, stating that wallets created by certain users could be viewed through the API. 

Spot-On-Chain stated that this information could potentially be used to game the system by allowing bots to almost instantaneously purchase shares of big accounts as soon as they signed up on the platform. Spot-On-Chain added, 

“A lot of bots have already taken advantage of this, it monitors the contract, finds the big KOL, and buys shares before others.”

Meanwhile, X users saw the funny side of the unfolding situation, with one user posting a link to the Ethereum block explorer and claiming that they had discovered a leaked database of all transactions on Ethereum. is a Web3 social application on the Base Layer-2 chain. It gives users a platform to trade shares in Twitter accounts, giving shareholders unique features such as access to private chat rooms. The platform has gained considerable traction since its launch, particularly due to a number of high-profile signups. had also recently generated over $1.4 million in protocol fees, putting it among the top three crypto projects when it came to fees. The project ranked only behind Ethereum and Lido.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Refutes Report Claiming User Information Was Leaked

Coinbase Takes Equity Stake In Circle, To Shut Centre Consortium

Coinbase and Circle, the two entities behind USD Coin (USDC), have announced new terms that would change the governance and funding of the USDC stablecoin. 

The new terms will see Coinbase acquire an equity stake in Circle, with the two also shutting the Centre Consortium, which initially governed the stablecoin. 

Coinbase Takes Equity Stake 

The new agreement reflects the shifting economics and popularity of the USDC stablecoin and comes at a time when it is facing competition from other stablecoins in the market and an uncertain regulatory environment. Competing stablecoins include offshore rival Tether and the recently announced PayPal stablecoin. As part of the new terms, Circle will also be launching USDC on six new blockchains over the next few months. The company hopes this will increase the adoption of the stablecoin, although it has not provided any details about how. In an update published on its website, Circle stated, 

“Circle and Coinbase, the founding companies behind Centre Consortium, a jointly managed self-governance consortium for USDC, have agreed that with growing regulatory clarity for stablecoins in the U.S. and around the world, the requirement of a separate governance body like Centre is no longer needed.”

It is also still unclear how big of a stake Coinbase got in Circle. However, what is known is that Coinbase did not give Circle cash for the deal, according to sources familiar with the matter. It is also not known which six blockchains will see the introduction of USDC. Circle did state back in September 2022 that it was looking to add Near, Polkadot, Optimism, and Cosmos. 

“USDC will be launching on six new blockchains between September and October, bringing multi-chain access of USDC up to 15 to continue accelerating USDC’s momentum with developers around the world.”

A Strong Alignment For Long-Term Success 

Circle CEO Jeremy Allaire stated that the new arrangement helps to “tune up the economics in a way that felt really fair for both of us.” He further stated that the equity lays the foundation for a good, strong alignment for long-term success. Coinbase and Circle previously operated using a revenue-share agreement outlined in financial disclosure forms from both companies. The split was based on the amount of USDC distributed by each firm and the amount of USDC held on each platform. 

Under the new agreement, income generated through interest will be equally shared from off-platform USDC, such as USDC held in DeFi wallets. 

A Major Change For USDC 

The shuttering of Centre is a significant change for USDC. The initial whitepaper showed Centre as a steward for a global, interoperable payments network that focused on consumers and would include a number of fiat-backed tokens. However, so far, Centre has only launched USDC, while Circle issued a euro-backed stablecoin which was accessible on two blockchains. 

However, recent initiatives around USDC have targeted the crypto developer community. These include the launch of cross-blockchain transfers and programmable wallets, which also reflect on the predominance of DeFi. 

Governance To Shift Under Circle 

Centre initially described itself as a consortium but only included Coinbase and Circle as members. This is because partnerships with other firms did not materialize. The organization, at one point, had over 20 employees, although this figure dwindled to under 10 in recent months. The new arrangement will see the governance of USDC shift under Circle. According to Allaire, governance under a separate entity like Centre was no longer needed as governments worldwide developed and adopted stablecoin legislation. 

Spurring Growth 

For the moment, Coinbase and Circle face a different challenge, that of spurring the growth of USDC. Back in March, Circle revealed that around $3.3 billion of the reserves backing USDC were stuck at Silicon Valley Bank. As a result, the stablecoin had briefly lost its peg to the dollar. However, the price recovered after the federal government guaranteed Circle’s deposits with the bank. However, USDC has seen a considerable decline in its market share, with most of the stablecoin market moving to Tether. Tether’s market cap is currently around $83 billion, while USDC is around $26 billion. 

The stablecoin markets have also seen a considerable shakeup with the introduction of PayPal’s PYUSD stablecoin, launched in partnership with Paxos. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Coinbase Takes Equity Stake In Circle, To Shut Centre Consortium

SEC Claims Titan Mislead Clients with Promises of 2,700% Returns

The SEC charged Titan Global Management with securities violations, alleging the firm misrepresented performance metrics. The firm agreed to a cease-and-desist order and will pay a $850,000 fine. 

In a statement released on Monday, the US Securities and Exchange Commission alleges that Titan Global Management used “hypothetical performance metrics in advertisements that were misleading.” 

Titan Accused of an Array of Transgressions

According to its statement, the SEC also charged the New-York-based Fintech firm with “multiple compliance failures that led to misleading disclosures about custody of clients’ crypto assets, the use of improper “hedge clauses” in client agreements, the unauthorized use of client signatures and the failure to adopt policies concerning crypto asset trading by employees.” 

The press release further explains the SEC’s order:

“The SEC’s order further finds that Titan (1) made conflicting disclosures to clients about how Titan custodied crypto assets; (2) included in its client advisory agreements liability disclaimer language that created the false impression that clients had waived non-waivable causes of action against Titan; and (3), contrary to representations, failed to adopt policies and procedures concerning employee personal trading in crypto assets. The order also states that Titan self-reported to the SEC staff that it failed to ensure that client signatures were obtained for certain types of transactions in client accounts and agreed to settle related charges.”

The SEC said that from August 2021 to October 2022, Titan made “misleading statements” on its website and advertised “annualized” performance results of up to 2,700% for its Titan Crypto strategy product.  

Chief of the Enforcement’s Complex Financial Instruments Unit, Osman Nawaz, said:

“When offering and marketing complex strategies, investment advisers must ensure the accuracy of disclosures made to existing and prospective investors. The Commission amended the marketing rule to allow for the use of hypothetical performance metrics but only if advisers comply with requirements reasonably designed to prevent fraud.” 


“Titan’s advertisements and disclosures painted a misleading picture of certain of its strategies for investors. This action serves as a warning for all advisers to ensure compliance.”

Without admitting or denying the SEC’s findings, Titan agreed to a cease-and-desist order to pay a $850,000 civil penalty which will be distributed to affected customers, to pay $192,454 in disgorgement and prejudgement interest.  

The SEC hastened its crackdown on the crypto industry this year, sued Binance and Coinbase, charged 18 defendants involved in DEBT Box, charged Hex founder Richard Heart with securities violations, and warned auditing firms over misleading crypto audits. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: SEC Claims Titan Mislead Clients with Promises of 2,700% Returns

Thailand Warns Facebook Over Crypto Fraud and Scam Ads

The Thai government is taking steps to obtain a court order to shut down Facebook unless the social media giant addresses the rising number of crypto and investment fraud scam ads on its platform. 

The Ministry of Digital Economy and Society of Thailand said on August 21 that over 200,000 people have fallen victim to Facebook advertisements that promote cryptocurrency scams. The Ministry noted that some have invested in fake businesses and government agencies like the SEC. 

Thailand Acts Against Fraudulent Crypto Ads on Social Media

To address this growing concern, the Ministry has asked Facebook to block over 5,301 fake pages and fraudulent ads. The Ministry explained that fraudulent advertisements lure victims as they claim to offer up to 30% returns and illegally use the photographs of celebrities as endorsements.

The Ministry said (translated):

“Today (August 21, 2023), Mr Chaiwut Thanakmanusorn, Minister of Digital Economy and Society (DES), together with Professor Wisit Wisitsorn-at Permanent Secretary of the Ministry of Digital Economy and Society, Mr Wetang Phuangsub Deputy Permanent Secretary of the Ministry of Digital Economy and Society Mr. Tawatchai Pittayasophon Acting Secretary-General Office of the Securities and Exchange Commission (SEC) Mr. Chaichana Mitphan, Director of the Electronic Transactions Development Agency and Pol. Maj. Gen. Thayut Chanthaworn, Deputy Commissioner of Police Investigating Technology Crimes. Along with the private sector, Join the meeting to discuss ways to solve the problem of buying ads via Facebook, deceiving people to invest. Including soliciting investment by pretending to use the name of a registered company and symbols of the SEC without permission, such as the SEC or the Stock Exchange of Thailand, allowing investors to trade gold starting 1 999 baht, along with specifying that there will be experts to take care of and earn 15-30 per cent profit per day or invest through the company Or a famous person who has a message inviting investors to have high profits that give returns on a weekly basis.”  

The government explained that the SEC had offered no such investment. The Ministry explained the various ways in which cybercriminals catch their victims: 

“Nowadays, cyber crooks have different tactics to fool and transfer money from accounts. With new mechanisms to adjust continuously, such as trading digital coins Through applications or websites, investing in crypto coins, investing with high-yield lending companies, investing in gold stocks, participating in auctions for high returns, investing in foreign exchange trading, and investing in shares in a group of well-known companies.”

Mr Chaiwut Thanakmanusorn, the Minister of Digital Economy and Society (DES), said:

“DES is in the process of compiling evidence from offenders on the Facebook platform to send the court to close Facebook by the end of this month and request the court to order the closure of the Facebook region within 7 days by the offence of Facebook. Because of Facebook receives advertisements from fraudulent offenders in advertising and deceives people into believing in investing and buying products through Facebook. When the customer believes and pays for the product and receives a product that does not match the cover. In the past, there were more than 200,000 victims, or about 95 per cent of 300,000 cases, with damages worth more than 10,000 million baht if Facebook did not help Thailand. If he wants to do business in Thailand, he must show responsibility to Thai society. In the past, the Ministry has been talking to Facebook all the time. But instead did not screen advertisers, causing damage to Thai people of more than 100,000 million baht.”

The Ministry also warned citizens to be fooled by any solicitation through social media and to verify the information they obtain from the related agencies. Social media platform users should be on the lookout for investments offering high returns in a short period of time, guaranteed returns, using the names of celebrities and famous businesspeople; if they are unable to verify a business and the product they offer, and warn investors not to make a hasty decision without doing proper due diligence. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Thailand Warns Facebook Over Crypto Fraud and Scam Ads

FBI Seized Nearly $2M Worth in Crypto in 3 Months

A new report from the US FBI reveals it confiscated almost $2 million in cryptocurrencies between March and May 2023. 

In its latest filing, the Federal Bureau of Investigations (FBI) revealed it seized about $1.7 million in cryptocurrencies from March to May. In an effort to combat illicit activities, the FBI seized crypto assets, including Bitcoin, Ether, Tether, Monero and Dai. 

The agency reported that most of the confiscations were in ether, with tokens to the value of $800,000 seized. Around $147,000 in Bitcoin (BTC), $307,000 in Tether (USDT), 469,000 in Dai (DAI), and $20,000 in Monero (XMR) were seized. The FBI even managed to seize $200 worth of Dogecoin (DOGE).

According to the FBI, the majority of seizures were from Binance accounts. The largest confiscation took place in the Eastern District of Virginia in the form of $463,811 in ether. The agency said most of the seizures came from Florida and Virginia. The FBI further confiscated digital assets in Arizona, California, Connecticut, Georgia, Minnesota, Nebraska, New Mexico, New Jersey, New Hampshire, Illinois, Massachusetts, Louisiana, New York, Ohio, Pennsylvania, and Oklahoma. 

In its filing, the agency said the asset seizures came about after violations of federal regulations:

“The Federal Bureau of Investigation (FBI) gives notice that the property listed below was seized for federal forfeiture for violation of federal law.”

The FBI has been cracking down on digital assets used in illicit activities. In February, the agency announced that it confiscated several cryptocurrencies, digital assets, and NFTs worth around $250,000 from two different locations in the US. The agency also announced in March that it launched an investigation into Do Kwon and Terraform Labs. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: FBI Seized Nearly M Worth in Crypto in 3 Months

Helio Lending Sentenced for False Credit License Claims

Australian- based crypto lender Helio has been sentenced for falsely claiming it held a local credit license. 

Melbourne-based cryptocurrency lender Helio Lending received a sentence for a non-conviction good behaviour bond for a year after it falsely claimed to have a local credit license. 

The Australian Securities and Investment Commission (ASIC) said Helio Lending had been sentenced for stating that it held a local credit license. Helio was sentenced to a non-conviction bond of AU$ 15,000 ($9,600) based on the condition it displays good behaviour for a year. 

In a media statement, the ASIC said:

“Melbourne-based cryptocurrency lender Helio Lending Pty Ltd (Helio) has been sentenced to a non-conviction bond for falsely claiming that it held an Australian credit licence (ACL) when it did not.

Helio entered into a recognisance in the sum of $15,000 for a period of 12-months on the condition they are of good behaviour.”

The ASIC states the lender made false representations in a news article on its website in August 2019, claiming it held a local credit license. According to the Commission, “Helio was neither an ACL holder nor a representative of an ACL holder at the time the statement appeared.” 

The ASIC explained that falsely claiming to have an ACL breaches section 30 of the National Consumer Protection Act 2009. The crypto lender was sentenced under section 19B(1)(d) of the Crimes Act 1914. 

ASIC Will Not Tolerate “Misleading” Statements

At the time of the false claim, Helio offered crypto-backed loans to consumers using crypto as security over the loan. The lender pleaded guilty to the charge of making false statements. A further charge relating to alleged content on Helio’s website was withdrawn. 

ASIC Deputy Chair Sarah Court commented on Helio’s conduct and sentence, saying:

“We expect entities and individuals to provide accurate information to their customers and potential customers. Helio falsely claimed that it held an Australian Credit licence, misleading their customers to believe that they had the protections afforded by such a licence.”

 The sentence of a non-conviction good behaviour bond means that the lender will only face conviction if it breaks its bond. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Helio Lending Sentenced for False Credit License Claims

Crypto faltering - BNB about to go over the cliff?

The crypto market is at the edge of perhaps another move to the downside. Binance token $BNB needs to bounce soon, or face a drop into the void.

The crypto market is in the red for yet another day. Bitcoin is flirting with $26,000 currently, and should it now fall and go through the support at $25,000 then things could get rather uncomfortable indeed for the entire crypto sector.

A bounce in sight?

However, bitcoin is battling and bulls do not look as though they will go down without a real fight. A rather large gap on CME is open above, with the upper bound at $27,620. Given that bitcoin is also looking quite oversold, a potential bounce could be seen later today or tomorrow.

Plenty of bad news around

There is plenty of really negative news on the global financial front, such as Chinese property developer Evergrande going into bankruptcy, but these sorts of events are nearly always priced into the market.

With global financial markets at the edge of their own black hole, there will definitely be a need for bitcoin, which is outside of the huge timebomb of $1 quadrillion + in derivatives. Holders should think of this before selling.

Binance continues to suffer

One issue within the crypto ecosystem is that of the continuing SEC persecution of Binance, the largest crypto exchange in the world by trading volume. Having already published its intentions to sue the exchange and its CEO Changpeng Zhao, the enforcement overhang is having a deleterious effect on Binance.

$BNB on the brink

For the $BNB exchange token things are looking rather shaky. From a technical perspective, $BNB has fallen out of its bear flag and has lost the $220 support. A measured move out of the flag should still see $BNB fall a lot further, but this is probably immaterial as there is really no kind of decent support until under $50, which is a more than 4x drop into the abyss from here.

Should such a calamity befall $BNB, and the exchange goes into a nosedive, the impact for the rest of crypto could potentially be far worse than the FTX and LUNA meltdowns, putting the bull market on hold.

If this worst case scenario does come into fruition it should be remembered that bitcoin, ethereum, and some of the fundamentally stronger cryptos might be at bargain basement prices. Investors should do their research.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Original Post: Crypto faltering - BNB about to go over the cliff?