Binance Denies Red Notice And More

It has been an exciting week in crypto, as the charts have been picking up. Dogecoin’s mid-week spike due to the temporary Twitter mascot change has affected other cryptos as well, boosting prices across the board. Let’s find out more. 

Bitcoin 

Russia’s crypto mining generating capacity rose to 1 gigawatt in Jan-Mar 2022, making it the second biggest crypto miner in the world, just behind the U.S. 

Binance announced earlier this week that Argentinians can now buy crypto directly with the Argentine peso.

Swiss Government-owned PostFinance Bank has stated that it would offer its customers various regulated crypto services. 

One of the world’s largest peer-to-peer cryptocurrency exchanges by trading volume, Paxful, has announced that it is shutting down its operations. 

Ethereum

Leading blockchain security auditing firm DeDaub has uncovered a Solidity compiler bug that affects function equality and provides insight into its mechanics and planned resolution.

Ethereum re-staking protocol EigenLayer has initiated its testnet launch, aiming to establish a decentralized marketplace. 

After huge backlash from the community and token holders, Ethereum Layer-2 solution provider Arbitrum has backtracked on its proposed governance voting system. 

In a recent post, Ethereum co-founder Vitalik Buterin delved into the potential integration of zero-knowledge Ethereum Virtual Machines at Ethereum’s base layer, which could expedite the verification process without sacrificing decentralization and security.

DeFi

In a big blow to Canadian users, dYdX announced that its decentralized derivatives exchange would no longer be accessible to users in Canada. 

After an arguably arduous back and forth with the threat actors of its exploit, Euler Finance has revealed that the recoverable funds worth roughly $31 million have been returned safely.

Altcoins

Ultra has announced that its Ultra Games Store will go public on 25 April, resulting in a 40% spike in the price of its $UOS token. 

The familiar Twitter mascot has been replaced for the time being, with the Dogecoin logo taking its place, resulting in a 20% hike in its price. 

Technology

Solana has recently announced the introduction of state compression technology to significantly reduce the storage costs associated with NFTs on its network.

A new proposal attempts to introduce ZeroSync, a privacy implementation for the Bitcoin blockchain-based zero-knowledge proof (zk and/or ZKPs) stacks.

Business

China’s only regulatory-compliant public blockchain, Conflux, has submitted a proposal to deploy Uniswap v3 on its network following the expiration of the Uniswap v3 code license.

Tech entrepreneur and serial crypto investor Evan Luthra has accused Bitget, a leading cryptocurrency exchange, of being involved in a widespread scam.

Dragonfly Capital has announced a $10 million strategic investment in the derivatives exchange Bitget. 

The stablecoin provider, Tether, has been accused of accessing U.S. financial system through the Signature Bank. 

Many crypto investors in the U.S. are struggling to figure out how to pay their taxes and, as a result giving up and failing to file. 

Regulation 

The Department of Justice announced that it seized $112 million worth of digital assets found to be related to cryptocurrency scams.

Binance’s derivatives license has been revoked by ASIC, affecting the crypto exchange’s operations in Australia.

The Binance crypto exchange has denied rumors of its CEO Changpeng Zhao (CZ) being served with the infamous Red Notice by Interpol. 

Elon Musk is facing a staggering $258 billion racketeering lawsuit as Dogecoin investors accuse him of running a pyramid scheme to boost the cryptocurrency.

NFT

An unreleased song by the late iconic musician David Bowie has recently been transformed into a music NFT by Gala Music. 

Former President Donald Trump’s arrest in New York City has resulted in renewed interest in his NFT collection, with sales quadrupling in volume. 

OpenSea has announced the launch of OpenSea Pro, a marketplace with advanced features aimed at the growing market of professional NFT traders.

Security

Citing North Korea’s “unlawful weapons program and “malicious cyber activities,” Seoul, Washington, and Tokyo reiterated the 2017 UN resolution to send back North Koreans working abroad. 

The attack that targeted the DeFi lending platform, Sentiment Protocol, has siphoned funds in the $500,000 to $1 million range. 

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.