Crypto Box Shilling

SafeMoon fraud charges by SEC and Unregistered Crypto Offering The charges stem from their involvement in an extensive fraudulent scheme related to the unregistered sale of the cryptocurrency security known as SafeMoon. SafeMoon fraud charges have been filed by the SEC against SafeMoon LLC, its creator Kyle Nagy, and its executives John Karony and Thomas Smith for the unregistered sale of the SafeMoon cryptocurrency. The SEC alleges that they promised to increase the token’s price but instead caused a market capitalization drop. David Hirsch of the SEC emphasized that unregistered offerings like SafeMoon lack necessary disclosures and accountability, making them attractive to scammers. The SEC’s complaint alleges that Nagy assured investors that funds in SafeMoon’s liquidity pool were secure and inaccessible, but significant portions were never locked and were misused for personal expenses. The SEC warns investors to be cautious as fraudsters often fail to deliver on promised profits. SafeMoon experienced a rapid price increase of over 55,000 percent in 2021, but the price fell by nearly 50 percent when it was revealed that the liquidity pool was not secure. Following this, Karony and Smith allegedly manipulated the market using misappropriated assets.

CME on the Cusp of Replacing Binance as Top Bitcoin Futures Exchange The regulated Chicago Mercantile Exchange (CME) is climbing ranks on the list of largest bitcoin (BTC) futures and perpetual futures exchanges by open interest in a move reminiscent of the early stages of the 2020-21 bull run. With a notional open interest (OI) of $3.54 billion, CME is now the second-largest bitcoin futures exchange, up from the fourth position seen weeks ago, according to Coinglass. Notional open interest refers to the U.S. dollar value locked in the number of active or open contracts. Keeping the top spot is the offshore unregulated exchange Binance, with an open interest of $3.83 billion. That’s 8% higher than the CME. CME’s standard bitcoin futures contract is equivalent to 5 BTC, while the micro contract is sized at one-tenth of 1 BTC. The standard ether futures have a contract size of 50 ETH, while micro futures are equivalent to one-tenth of 1 ETH. Most open interest in offshore exchanges is concentrated in perpetual futures rather than traditional futures contracts. Perpetuals are futures with no expiry and use the funding rate mechanism to keep perpetuals in sync with the spot price. Per some observers, CME’s ascent is a sign of an institutional-led rally. Bitcoin has risen 27% this month amid lingering macroeconomic uncertainty and spot ETF optimism.

gave a prediction about the rate of Cardano Renowned cryptoanalyst and founder of Into The Cryptoverse Benjamin Cowan shared his opinion on the price behavior of altcoins relative to bitcoin (BTC). He focused on the Cardano digital coin (ADA). According to him, this virtual asset has good prospects. According to Cowan's analysis, ADA, which has already lost 78.8% of its price high, will continue to fall to the lower boundary of dynamic support against the BTC rate. According to him, that means a future value of 800 SATS per ADA. This level, according to Cowan's prediction, was referred to 2018. It was then retested in the third quarter of 2019. According to the dynamics, the ADA value should return to this value. Nevertheless, the analyst assured: finding a bottom against BTC "would be a big deal" for Cardano. He noted that after a rebound from this value, the cryptocurrency rate will go up. At the same time, the expert added that "the final support may be at the level of 400 SATS per ADA.

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Former FTX CEO Sam Bankman-Fried will take the stand on Thursday Sam Bankman-Fried, the disgraced former CEO of the FTX crypto exchange, is expected to take the stand on Thursday, defense lawyers said. During a teleconference on Wednesday, Bankman-Fried's lawyer Mark Cohen confirmed his client will testify and that his testimony will probably take the entire day on Thursday, before going into cross examination on Friday. Analysts had seemed split on whether he would and have said that if the former billionaire does decide to testify, it would take a few days. All of the seven expert witnesses Bankman-Fried proposed to call, for example, were denied by Judge Kaplan, though Kaplan left open the door for him to call on four as rebuttals to government witnesses. Many of Bankman-Fried's motions in limine, which concerned which arguments and which evidence could be offered at trial, have also been denied by the judge. The former FTX CEO faces decades in prison if he is convicted on a slew of charges, including fraud, over allegations that he and other FTX executives used billions of customer assets to make their own failed investments. FTX filed for bankruptcy protection late last year. Bankman-Fried's defense has seemingly struggled before the trial to get certain witnesses on the stand.

Altcoins Join the Bitcoin Party, Ethereum (ETH) Moves Close to $2,000 https://coingape.com/altcoins-join-the-bitcoin-party-ethereum-eth-moves-close-to-2000/?utm_source=Telegram&utm_medium=Elena

​Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. According to Taiwanese government officials, the country’s financial sector regulator — the Financial Supervisory Commission (FSC) — is set to become the body overseeing and regulating the country’s virtual currency industry. As per a CNA report, an announcement to this effect is set to be made in late March or early April.

Binance onboards fiat partners for Euro withdrawals and deposits following Paysafe separation Binance penned new partnerships with fiat providers to enable Euro transactions, a month after Binance's original Euro banking partner Paysafe stopped working with the firm. "We have signed agreements with a number of new regulated and authorized fiat partners to provide a variety of fiat services to our community. Users have already started being migrated to the new services," Binance wrote in a Thursday release. Services stemming from the partnership includes EUR transactions via Open Banking. "Being able to easily convert fiat to crypto, and back to fiat again, is a crucial part of advancing the adoption of digital assets globally. Without an easy way to buy or sell crypto, users who are new to the space can find the process of buying or selling crypto unintuitive and intimidating. Offering fiat services provides essential ease of use to all participants in the crypto ecosystem," Binance added. Binance's new partnerships come after the firm experienced another major setback in the summer, when the German financial regulator BaFin rejected Binance's custody license application. "SEPA," or Single Euro Payments Area, includes 36 countries that enable cashless Euro payments in the European Union.

Gecko Terminal Integrates With FlokiFi Locker, Signifying Increasing Adoption for Floki GeckoTerminal, the renowned Decentralized Exchange (DEX) tracker tool offered by Coingecko, has made a significant move by integrating with Floki's crypto locker protocol, FlokiFi Locker. This collaboration highlights the growing acceptance and adoption of Floki in the cryptocurrency industry. GeckoTerminal, with its massive user base of over 50 million annual visitors, serves as the largest independent aggregator of cryptocurrency data worldwide. Its platform currently tracks an impressive number of tokens, exceeding 1.5M, across over 100 networks. The integration of FlokiFi Locker into GeckoTerminal provides users with seamless access to lock details for projects that utilize FlokiFi Locker to secure their liquidity pools. This integration brings convenience and efficiency to the fingertips of GeckoTerminal's users. For Floki, this integration represents a significant triumph, as it signifies the increasing adoption of their utility products by the most prominent and respected brands in the crypto realm. Moreover, it opens doors to introduce FlokiFi Locker potentially, and consequently Floki itself, to millions of new users. This partnership begins a fruitful and mutually beneficial collaboration between two exceptional crypto brands. As GeckoTerminal and Floki join forces, the crypto community can expect enhanced accessibility and visibility for FlokiFi Locker, further solidifying Floki's position as an influential player in the cryptocurrency landscape.

opBNB-based AI platform MyShell raises funds at $57 million valuation MyShell, an opBNB-based platform that offers AI tools, has raised $5.6 million in a seed funding round. The round was led by INCE Capital, with participation from Hashkey Capital, Folius Ventures, SevenX Ventures, OP Crypto and others, MyShell said Monday. This was an equity with token warrants round and brought MyShell's valuation to $57 million, co-founder Ethan Sun told The Block in an interview. MyShell also raised a small $200,000 pre-seed round earlier this year from friends and the crypto community, Sun said. Launched in May, MyShell is a web3-enabled AI platform that lets users create personalized chatbots called "Shells." The platform is for both content creators and consumers — creators can generate AI content bots, and consumers can find and use those bots. Since its launch in May, MyShell claims to have already gained over 30,000 creators and over 400,000 users. It aims to bring a creator ecosystem to blockchain. "The AI landscape today is grappling with pressing challenges, including a lack of transparency, centralization, and misaligned incentives," said Sun. "Our goal is to cultivate an ecosystem where users genuinely own their creations and receive fair compensation for their work."

Frax Finance's Fed Yield-Matching Staking Vault Attracts $30M, FXS Steady Frax's governance token FXS is in stasis as the decentralized finance protocol's nascent high-yielding staking product draws millions in investor money. Early Thursday, Frax unveiled sFRAX, an ERC4626 staking vault allowing holders of the protocol's partially collateralized fractional-algorithmic stablecoin FRAX to earn yields matching the U.S. Federal Reserve's (Fed) interest rate on reserve balances (IORB), currently around 5.4%. The product debuted with an APY of 10%, eventually converging with the Fed's 5.4% IORB rate. FXS' price rose 7% to $5.66 on Thursday, but has since pulled back to $5.49 to indicate a 0.5% gain on a 24-hour basis, CoinDesk data show. The steady price action is consistent with the continued low-volume range play among market leaders bitcoin and ether. The new offering comes as lending protocol MakerDAO enjoys a first-mover advantage in capitalizing on high interest in the U.S. According to Parsec Finance, MakerDAO has invested over $2 billion in short-term bonds via offchain structures since February 2022, offering a 5% savings rate on DAI and buy back its MKR token. On a year-to-date basis, MKR has gained over 168%, outshining bitcoin's 62% rise by a big margin. FXS, meanwhile, has gained only 32% this year. Some in the crypto community expect FXS to catch up with MKR.

​​Decentralized App BCH Bull Prepares for Launch, Platform Allows Users to Long or Hedge Bitcoin Cash Against a Myriad of Tradeable Assets Just recently the developers behind the Bitcoin Cash-centric project Anyhedge released the alpha version of the Anyhedge Whitelabel and since then, 284 smart contracts were created onchain, and more than $32,900 in funds hedged using the alpha protocol. Furthermore, this month, General Protocols, the engineers behind Anyhedge, revealed the team plans to launch a decentralized application (dapp) on the Bitcoin Cash blockchain that allows anyone to long bitcoin cash against a myriad of tradeable assets. General Protocols to Launch a Decentralized Application That Allows Users to Hedge or Long Bitcoin Cash, Anyhedge Alpha Whitelabel Recently Released In recent times, there’s been a few different projects building within the Bitcoin Cash (BCH) ecosystem. One protocol called Anyhedge just released the protocol’s alpha version, which allows users to create smart contracts onchain. Furthermore, the team behind Anyhedge, General Protocols, recently summarized the Anyhedge Extension, which was made possible after the new ruleset changes were applied to the BCH network last May.

Ripple CFO Kristina Campbell exits company Ripple's Chief Financial Officer Kristina Campbell has left the company after about two and a half years. Campbell's LinkedIn profile shows that she no longer works at Ripple and instead, as of this month, started working as CFO at Maven Clinic, a digital health care provider. The Harvard-educated executive previously worked several years in financial services before joining Ripple in April 2021. Ripple has been engaged in a battle with the Securities and Exchange Commission, with the regulatory agency suing the company. A trial is slated for next year. Ripple’s Chief Financial Officer of roughly two and a half years has departed the crypto company and started working in the health care industry. Campbell's LinkedIn profile shows that she no longer works at Ripple and instead, as of this month, started working as CFO at Maven Clinic, a digital health care provider. The Harvard-educated executive previously worked several years in financial services before joining Ripple in April 2021. The crypto market has been exceedingly volatile thanks in large part to a prolonged bear market, and layoffs have been common. Ripple, meanwhile, has been making inroads in markets outside the U.S., including the Asia Pacific region. Ripple did not immediately respond to a request for comment from The Block.

Binance’s Ambitious $1 Billion Crypto Industry Recovery Initiative Has Failed: Bloomberg https://coingape.com/binance-ambitious-1-billion-crypto-industry-initiative-failed-bloomberg/?utm_source=Telegram&utm_medium=Elena

Banks Would Have to Disclose Crypto Holdings Under New BIS Plan Banks will have to disclose cryptocurrency holdings under new plans floated Thursday, as international regulators partly blamed banking collapses on the sudden popularity of crypto. The Basel Committee on Banking Supervision, which sets norms for lenders in traditional finance (TradFi), has already said banks should issue potentially prohibitive capital for their holdings of unbacked crypto such as bitcoin (BTC) or ether (ETH). After a turbulent year that saw the collapse of crypto exchange FTX, as well as digitally focused lenders Signature and Silicon Valley Banks, the standard-setter now wants to see lenders reveal their exposure as it seeks to cut contagion. A consultation paper to be published soon will propose “a set of disclosure requirements related to banks’ crypto asset exposures,” complementing existing capital requirements for digital assets that were finalized in December, the Committee said in a statement. The Basel grouping, which includes bank supervisors from 28 global jurisdictions including the U.S., U.K. and European Union, had previously said it will monitor crypto norms and modify them if needed, but does not appear to have previously flagged the idea of separate disclosure rules.

Costa Rica Uses NFTs to Fund Coffee Research A new partnership between the Tropical Agricultural Research and Higher Education Centre (CATIE) and the Specialty Coffee Association of Costa Rica (SCACR) will help launch an NFT collection that is inspired by 12 of CATIE’s coffee varietals to help fund coffee conservation and research. The auction will be organized through the NFT distribution company BIOCENFT, with proceeds specifically allocated towards the promotion of CATIE’s International Coffee Collection, which serves as the world’s fourth largest. Inspired by the Geisha, Wush-Wush, Mibirizi, Hava, Rume Sudan, ER-47, SL-28, SL-34, Centroamericano, Milenio, Esperanza, and Casiopea varieties, each of the 12 NFTs features a unique design that showcases the unique characteristics of each coffee variety. Noelia Villalobos, SCACR’s Executive Director, believes that leveraging NFTs will amplify awareness regarding coffee biodiversity, consolidating CATIE and SCACR’s conservation endeavors. With the proceeds, research and development would be tailored towards the creation of pest and disease-resistant coffee strains, while helping to enhance and elevate Costa Rican coffee standards that fall in alignment with global marketing campaigns targeting untapped markets.

Ethereum's Supply Has Been Influenced by the Drop in DeFi and NFT Sales Supply dynamics in Ethereum are constantly being upended amid this year's dizzying drop in DeFi, NFT sales, and meme coin trading. Depending on which time frame you are looking at, Ethereum can be deflationary or inflationary: on a seven-day model, Ethereum becomes more scarce, whereas on a yearly framework, it issues more than it burns. What’s going on with the network’s supply dynamics, why are transaction fees prices dropping, and how does it look for the future of Ethereum? Back in August 2021, Ethereum implemented EIP-1559, which introduced a fee-burning mechanism. Since then, the supply has had a direct connection to gas prices. Higher gas prices mean more ETH getting burned and vice versa. This set the table for last year’s merge. The transition from proof-of-work to proof of stake ended up reducing the issuance of ETH by 90%, leading many to claim that the network was now “ultrasound money.” But that label has been put to the test amid dwindling gas prices and lesser transactional volume. Amberdata’s head of research, Chris Martin, told Decrypt that the reasons for declining gas prices are three-fold.

Billionaire Michael Saylor Responds to Charlie Munger's Criticism of Bitcoin – This is What He Said Michael Saylor, the co-founder and former CEO of MicroStrategy, has addressed Charlie Munger's criticism of Bitcoin, claiming that he hasn’t taken the time to understand Bitcoin. In a Friday interview with CNBC, Saylor said he is "sympathetic" to Munger's criticism of the broader crypto market, noting that thousands of altcoins are little more than avenues for "gambling." However, he argued that Warren Buffett’s right-hand man would have had a different idea about Bitcoin if he studied it. “If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained, adding: “The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that wasn't enthusiastic about bitcoin.”