News – Page 27

US Lawmakers Urge Biden to Secure Release of Detained Binance Exec in Nigeria

Tigran Gambaryan, a high-ranking executive at Binance, has been held by Nigerian authorities for nearly three months. The appeal, led by House Foreign Affairs Committee Chair Michael McCaul (R-Texas) and supported by 11 other congressional leaders, demands that the situation be treated as a hostage crisis. In the letter, the lawmakers stated that the Nigerian government has openly in court that Gambaryans is being used as leverage against Binance. GambaryAn’s health has also deteriorated during his detention, resulting in him collapsing in court on May 24, and he has since tested positive for malaria.

Source: Wayne Jones, 2024-06-06; https://cryptopotato.com/us-lawmakers-urge-biden-to-secure-release-of-detained-binance-exec-in-nigeria/

Over 40% of Bitcoin (BTC) Supply Now Held by This Group of Whale Addresses

Since mid-March, there has been a notable trend of large bitcoin holders or “whales” stashing more tokens. Addresses with over 1,000 BTC now collectively own more than 40% of the total bitcoin supply. This concentration of ownership signals increased confidence and conviction among wealthy investors and institutions in BTC’s future price trajectory as investor sentiment remains bullish on the top asset. Historically, such accumulation by large holders has often preceded significant price rallies, as it reduces the ci.

Source: Chayanika Deka, 2024-06-06; https://cryptopotato.com/over-40-of-bitcoin-btc-supply-now-held-by-this-group-of-whale-addresses/

Gensler Criticizes Crypto Exchanges for Questionable Practices, Says Spot ETH ETFs Will ‘Take Some Time’

SEC Chair Gensler has voiced concern over unethical conduct within crypto exchanges. He also responded to Jim Cramer’s inquiries about potential exchange-traded products for cryptocurrencies beyond Bitcoin and Ethereum. Gensller stated that while the SEC had the associated 19-4b filings for spot Ethereum ETFs last month, the launch of these products would “take some time.“Crypto exchanges are engaging in practices that would never be,” he said.

Source: Wayne Jones, 2024-06-07; https://cryptopotato.com/gensler-criticizes-crypto-exchanges-for-questionable-practices-says-spot-eth-etfs-will-take-some-time/

Gemini Earn Recovers 97% Of Customers’ Lost Crypto

Gemini’s bankrupt crypto lending arm has successfully recovered virtually all of its customers’ digital assets. The crypto exchange, founded by billionaire entrepreneurs Cameron and Tyler Winklevoss, announced on Wednesday that Gemini Earn customers had “received $2.18 billion of their digital assets in kind” The announcement was well received by the online crypto community, who applauded the exchange’s leadership for acting responsibly after losing their customers’ funds within Genesis Global. “Solid commitment from Tyler and Cameron where Gemini itself has filled a $50m gap caused by losses by DCG/genesis, to make all their earn users whole,” Blockstream CEO Adam Back in

Source: Andrew Throuvalas, 2024-05-30; https://cryptopotato.com/gemini-earn-recovers-97-of-customers-lost-crypto/

These Meme Coins Skyrocket Triple Digit as ‘Roaring Kitty’ Returned to Reddit

Keith Gill, known online as “Roaring Kitty,” posted on Reddit that he is holding $181.4 million worth of GameStop (GME) stock and call options. Following his Reddit post, GME, ROAR, and KITTY meme coins gained 315%, 660%, and 477%, respectively. Gill’s combined holdings effectively equate to owning 17 million GameStop shares. At the last trading price of $23 per share, this puts the value of his position at approximately $391 million.

Source: Wayne Jones, 2024-06-04; https://cryptopotato.com/these-meme-coins-skyrocket-triple-digit-as-roaring-kitty-returned-to-reddit/

Mexico Extradites Alleged Sinaloa Sicario to U.S.

Néstor Isidro Pérez Salas aka El Nini was the leader of the so-called “Ninis,” a group of notoriously violent enforcers for the Chapitos faction of the cartel. The Sinaloa Cartel is widely regarded as one of the world’s most perilous drug trafficking syndicates, notorious for its involvement in the sale of the lethal opioid, fentanyl. The U.S. Attorney General Merrick B. Garland said in a statement that El Ninis was responsible for the murder, torture, and kidnapping of rivals and witnesses who threatened the cartel’s criminal drug trafficking enterprise.

Source: , 2024-05-29; https://www.occrp.org/en/daily//en/daily/18750-mexico-extradites-alleged-sinaloa-sicario-to-u-s

Mastercard Crypto Credential Goes Live: Focus on Broader Crypto Adoption with Simplified Transfers

Mastercard has launched its Mastercard Crypto Credential, facilitating the first peer-to-peer (p2p) pilot transactions. The latest offering will enable users on the Bit2Me, Lirium, and Mercado Bitcoin exchanges to send and receive cryptocurrency. Users across Peru, Chile, Portugal, Argentina, Guatemala, Panama, Mexico, Brazil, Paraguay, Spain, France, Switzerland, and Uruguay will be able to conduct both cross-border and domestic transfers across various currencies.

Source: Chayanika Deka, 2024-06-02; https://cryptopotato.com/mastercard-crypto-credential-goes-live-focus-on-broader-crypto-adoption-with-simplified-transfers/

US Targets Cybercriminals Linked to 911 S5 Botnet

Malicious 911 S5 botnet, which infected over 19 million IP addresses worldwide, enabled billions of dollars in pandemic and unemployment fraud. U.S Department of Justice estimates that over US$5.9 billion was siphoned off through fraudulent unemployment insurance claims and Economic Injury Disaster Loan (EIDL) applications. Chinese national YunHe Wang, a 35-year-old St. Kitts and Nevis citizen-by-investment, was arrested on May 24 on crim.

Source: , 2024-05-31; https://www.occrp.org/en/daily//en/daily/18766-us-targets-cybercriminals-linked-to-911-s5-botnet

ASI Alliance Targets Big Tech’s AI Dominance with Decentralized Network

Fetch.ai, SingularityNET, and Ocean Protocol – collectively known as the “Artificial Superintelligence Alliance (ASI) – announced the finalization of their merger in June. Starting June 11, 2024, FET will be renamed ASI, and the merger will be completed by June 13. Users can begin swapping FET for ASI tokens through a secure token migration contract on June 11. This contract will securely migrate tokens for over 200,000 holders at previously set exchange rates.

Source: Chayanika Deka, 2024-05-30; https://cryptopotato.com/asi-alliance-targets-big-techs-ai-dominance-with-decentralized-network/

Calm Before the Storm: DOT Ready to Rally to $9? (Polkadot Price Analysis)

Polkadot’s price has been consolidating over the past couple of months, following a steep decline in early April. On the daily chart, the cryptocurrency has been range-bound inside a rising wedge pattern. This is a classical bearish reversal or continuation pattern that would be validated if the price breaks it to the downside. Meanwhile, the market has also been hovering around the 200-day moving average, making gradual higher highs and lows. There is a considerable possibility for DOT to break the pattern to the upside and rally toward the $9 resistance level.

Source: CryptoVizArt, 2024-06-04; https://cryptopotato.com/calm-before-the-storm-dot-ready-to-rally-to-9-polkadot-price-analysis/

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