May 28, 2023

CFTC Sues 5 Individuals for Bitcoin Trading Services Fraud

The Commodities Futures Trading Commission (CFTC) has sued five individuals for falsely promoting bitcoin and crypto trading services, thereby swindling unsuspecting investors. The defendants in the case, according to the CFTC, mainly targeted Spanish-speaking users. Majority of Victims Were From Spanish-speaking Communities The CFTC alleged that five people — David Carmona, Juan Arellano Para, Moses...
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Stably Launches Bitcoin’s First BRC-20 Stablecoin

Stably – a stablecoin-as-a-service provider and fiat to crypto on-ramp – has launched the first-ever dollar-pegged stablecoin issued directly on the Bitcoin blockchain.  The token, Stably USD ($USD) is based on the emerging BRC-20 token standard around which many Bitcoin-based memecoins popularized earlier this month.  Stably USD and the Meme Economy Per a tweet from...
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Dogecoin Explores New Markets As Avorak AI Tightens Its Hold On AI Crypto

The cryptocurrency world constantly evolves, with projects and technologies constantly pushing boundaries. As Dogecoin explores new markets, Avorak AI has maintained tenacity in AI Crypto, displaying its capabilities while still in its initial coin offering (ICO). What is Dogecoin? Dogecoin (DOGE) is the first and largest meme coin by market capitalization. The cryptocurrency has gained...
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This is What Needs to Happen for Bitcoin to Reach $45K This Year According to JPMorgan

Should bitcoin start resembling more the price performance as well as the investment structure of gold, its price could skyrocket to $45,000, according to a note by JPMorgan’s analysts. However, the multinational investment bank believes there’s a big catch. Bitcoin’s YTD performance has been rather impressive, as the asset entered 2023 at under $17,000 following...
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4,000 ETH ($7.5M) Compromised Following Latest DeFi Exploit

It appears that the DeFi industry continues to be a prime target for hackers. On the morning of May 28th, another exploit took place, this time taking aim at liquidity platform Jimbos Protocol. Jimbos Protocol got exploited today – May 28th. According to an update by PeckShield, the hack resulted in a loss of around...
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China’s Web3 White Paper Fuels Crypto Frenzy In Hong Kong; CZ Reacts

Changpeng Zhao, also known as “CZ,” the founder and CEO of Binance, shares his insights on China’s recent release of the Web3 Innovation and Development White Paper. The timing of this white paper coincides with the impending rollout of Hong Kong’s cryptocurrency licensing system.  China’s Web3 White Paper Unveiled The Beijing Municipal Science & Technology...
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Beijning Will Invest at Least $14M Per Year to Strengthen Web3 Foothold

China seems to be opening up to some parts of the industry. Despite its hard stance on trading and owning cryptocurrencies like Bitcoin and Ethereum, the country is pushing for the development of Web3. During the parallel forum of the 2023 Zhongguancun Forum called Web3: Future Internet Industry Development, the Beijing Municipal Science and Technology Commission, alongside...
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Bitcoin Pizza Day Goes Stale as Pizza-Styled Memecoin Issuers Pull the Rug

Floridian programmer and an early Bitcoin miner named Laszlo Hanyecz’s purchase of two pizzas with Bitcoin in 2010 has been etched into history, marking a pivotal moment for cryptocurrency. Since then, Bitcoin Pizza Day is celebrated every year on May 22nd. However, scammers are lurking even on that day. In light of this historic event,...
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