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Table of Contents
News
Global
Argentina Looks to Emulate El Salvador’s Bitcoin Success
- Argentina is collaborating with El Salvador’s government to take advantage of its experience with Bitcoin adoption and other crypto initiatives.
- The authorities discussed methods and ideas for implementing crypto in international economies, emphasizing El Salvador’s Bitcoin situation.
Bank of Israel Launches Digital Shekel CBDC Challenge
- The central bank had invited entities from the private, public and academic sectors to participate in the experiment.
- While CBDCs are built to serve universal use cases, participants in Israel’s CBDC experiment are also allowed to build solutions for unique niches and scenarios.
NFTs Highly Susceptible to Fraud, says US Treasury Department Report
- The report mentioned the susceptibility of NFTs to fraud while acknowledging a lack of evidence for widespread use in terrorist financing.
- The Treasury Department identified weaknesses in NFT platforms’ controls for preventing money laundering and sanctions evasion
Japanese Exchange DMM Suffers $305M Bitcoin Loss in Private Key Hack
- After its systems were hacked on May 30, the centralized crypto exchange DMM lost over $305 million in Bitcoin.
- DMM afterward acknowledged on its website that it had lost precisely 4,502 BTC in an attack, suggesting that it was probably the reason behind that specific transaction.
Joe Biden Vetoes Bill Overturning SEC’s SAB 121
- Biden stated that overturning SAB 121 could undermine the SEC’s authority over accounting practices
- My Administration will not support measures that jeopardize the well-being of consumers and investors,” Biden said.
Platform and Tokens
Binance’s Gopax Offloads Genesis Creditor Claims at Significant Discount
- The Gopax crypto exchange is said to have sold its members’ deposit claims in August 2023 for half of their face value.
- The company went bankrupt in November 2022. Users have apparently received 50% of that total payment from Gopax.
Riot CEO: Bitfarms Ignored Shareholders’ Interests in Acquisition Rejection
- Riot Platforms declared its intention to pay US$2.30 per share to buy Bitfarms.
- The transaction consists of cash and Riot common stock, which could give Bitfarms’ shareholders a possible 17% stake in the combined business.
Binance France Shifts Ownership Amid Regulator Warning
- The new investors in Binance France split 100% ownership of the business equally among them.
- Binance France stated that the two new recipients were part of Binance’s founding staff but did not reveal their names.
Judge Dismiss DEBT Box Case, Orders SEC to Pay $1.8 Million in legal fees
- Judge Robert Shelby slammed the SEC for “bad faith conduct” in freezing Debt Box’s assets.
- Judge ordered the SEC to pay $1 million for attorney fees incurred by Debt Box and $750,000 for fees associated with a court-appointed receiver.
Robinhood Close to Settling GameStop Meme Stocks Lawsuit
- The trading platform Robinhood is in the process of concluding a deal with investors who filed a lawsuit against it in 2021.
- The investors’ attempt to submit a new request for class certification on April 19 was rejected by United States District Judge Cecilia Altonaga, which led to the settlement.
U.S. DOJ Arrests Chinese Man Behind $130 Million Botnet Scam
- Wang allegedly created Malwarethat affected over 19 million IP addresses through the 911 S5 botnet between 2014 and 2022
- Police claim that they seized $30 million in assets linked to 911 S5.
Ex-Deutsche Bank Investment Banker Sentenced for Crypto Fraud
- Russell allegedly promised investors high returns on their cryptocurrency investments, but instead used the funds for personal needs.
- Russell is ordered to pay over $1.5 million in restitution to the victims.
Terraform and Do Kwon Near Settlement with SEC
- Court documents reveal an agreement in principle to resolve a fraud action between Terraform Labs and its former CEO, Do Kwon, with the US SEC.
- The SEC accused Terraform and Kwon of misleading investors about crypto assets’ stability and financial potential while supplying them without the necessary registration.
Project Updates
Aptos Hits Record 115.4 Million Daily Transactions, Surpasses Solana
Aptos crossed the L1 record of over 65 million held by Sui Network by a significant margin of over 50%. Aptos surpassed Solana by recording 115.4 million transactions in a single day, compared to Solana’s 31.7 million.
Uniswap Discloses Assets Ahead of Fee Mechanism Vote
As of the end of the first quarter, the Uniswap Foundation reported having 730,000 UNI tokens and $41.41 million in fiat and stablecoins. The Uniswap Foundation has also declared that on-chain voting will be used to propose a new pricing system.
Sinohope Recovers Over 100% of Stuck FTX Deposits in $19.5M Deal
Hbit has sold $19.5 million worth of creditor claims to Ceratosaurus Investors LLC. The deal implies a recovery ratio of 108% of the firm’s assets.
Luxor and Bitnomial Unveil Innovative Bitcoin Mining Derivatives Product
Bitnomial Inc. and Bitcoin mining company Luxor Technology Corporation have introduced a derivative product for Bitcoin mining on Bitnomial’s US derivatives exchange. Two parties agree to buy and sell a financial asset at a future date for a predetermined price in a futures contract, which is a financial derivative.
Podcasts and Interviews
- “Bitcoin is Forever” podcast by What Bitcoin Did
- “How Crypto Will Stop the Banks from Stealing your Money” podcast by When Shift Happens
- “Bitcoin Could Hit $1 Million This Cycle” podcast by Anthony Pompliano
Job Listings
- FullStack Engineer | Alchemy
- Head of Protocol Engineering | ChainSafe
- Full-stack Engineer | Stakefish
- DevOps Engineer | Stakefish
- Full Stake Engineer | Stakefish
2k24 Events
- ETHKyiv hackathon & conference from June 21 to June 23
- EthCC (Brussels) conference from July 8 to July 11
- ETHGlobal Brussels hackathon from July 12 to July 14
- EDCON Tokyo conference from July 29 to July 30
- Ethereum Argentina conference & hackathon from August 2 to August 4
As we wrap up another week of insights and discoveries, remember that staying informed and motivated is an ongoing journey. WeekInFocus by CoinCodeCap is here to accompany you on this path, bringing you a fresh perspective on the news, a doorway to exciting job possibilities, and a collection of thought-provoking podcasts. Let’s embrace the coming week with curiosity and determination. Until next time, keep focused and keep thriving!
