Philippine SEC Exposes Fraudulent 'Abundance-Based' Crypto Investment Scheme - cyptoranking.com

2024-04-28

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Wyatt acknowledges that many blockchain-based games are “really interesting, conceptually,” but there are no “good games” yet. — CZ 🔶 Binance (@cz_binance) October 9, 2023 Philippine SEC Exposes Fraudulent 'Abundance-Based' Crypto Investment SchemeHowever, an interesting phenomenon has emerged in the past few months, when the two charts have clearly separated. The S&P 500 continued its upward trend and approached its ATH at just 4.5%. Considering the weekly price action for BTC, it could be said that BTC has been on a roller coaster ride. It was exchanging hands at $27.55K when the markets opened for trading for this week. For the first three days, BTC price action was all over the place. At times it gained value and rose above the opening market price and, at other times, it lost value and sank below the opening market price.

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Consider two proposals, A and B, where the miner is in favor of both. If their primary pool chooses to vote against A and for B, then said miner could switch to their secondary pool. But what if the secondary pool is for A and against B? The miner now faces a choice: either jeopardize their revenue and business operations, including employee salaries, to withdraw and self-mine during the adjudication period, or proceed cautiously. Introducing drivechains at this stage, before we possess the tools to tackle these challenges, is like installing a roof on a house without first laying its foundation. The U.S. debt portfolio sits at an all-time high of $33 trillion, which has the whole system worried. 2. Worries about life in 2025He concluded that the real discussion is around non-custodial versus custodial LN usage. This refers to whether users hold their BTC or not. While the study found that the number of individuals who face challenges that could exclude them from the traditional financial system is larger than previously assumed, it explains that these findings “serve to inform the design of future digital payment products and services and CBDCs.”

Estimated growth in routed Bitcoin Lightning Network transactions. Source: River Brazil’s Congress wants Binance boss Changpeng “CZ” Zhao and other exchange executives put up for indictment. Meanwhile, Binance froze Hamas-linked accounts on Israel’s request and Sam Bankman-Fried’s lawyers want to cross-examine Gary Wang over FTX lawyers’ involvement in Alameda loan approvals.Brazil’s Congress wants Binance’s CZ indictedA Brazilian congressional committee recommended law enforcement indict Binance CEO Changpeng “CZ” Zhao and three local Binance executives after wrapping up a probe into financial pyramid schemes.In an over 500-page final report published on Oct. 10 the committee accused Zhao and local Binance executives Daniel Mangabeira, Guilherme Haddad Nazar and Thiago Carvalho of fraudulent management practices, operating without sufficient authorization and illegally offering securities trading. The report claimed Binance, Zhao and others created an "opaque network of legal entities” controlled by Zhao with no other purpose than “evading compliance with the law."The committee recommended the Federal Public Ministry and the Securities and Exchange Commission (CVM) investigate Binance’s alleged tax evasion, money laundering, financing of organized crime and terrorism and illicit derivatives product sales.The recommendations aren’t legally binding but are instead suggestions — police and regulatory bodies will decide if to pursue mfurther action.Binance told Cointelegraph that it “remained committed” to collaborating with the committee and Brazilian law enforcement but “strongly rejects the exposure of our users or employees with baseless accusations of bad practices and the attempts to make Binance a target.”The indictment of 45 other people linked to multiple crypto companies was also recommended, with the committee alleging they took part in criminal schemes.Binance freezes Hamas-linked accounts after Israeli requestBinance has frozen accounts linked to Hamas militants, according to the company’s co-founder Yi He. This move comes in response to a request from Israeli law enforcement authorities. According to Yi He:“Hamas is a designated terrorist organization by the United Nations. Therefore, any organization, including banks and trading platforms, will need to cooperate on the receipt of freeze requests. This is not something Binance can decide on its own.“The company co-founder also added that “Palestine has an organized government. Hamas is a local militant group. They kill civilians; that’s the problem. Hamas is not Palestine; the freeze is targeted towards Hamas, not Palestine.“They also issued assurances that the freeze would only affect Hamas-linked accounts. With “ordinary civilian accounts” being unaffected. SBF seeks to probe FTX lawyers’ roles in $200 million Alameda loansSBF’s legal team is looking for permission to probe the alleged involvement of FTX lawyers in the issuance of $200 million worth of loans from Alameda that were approved by Gary Wang.As previously reported in the build-up to the highly anticipated trial, an Oct. 1 court ruling provisionally barred SBF from apportioning blame to FTX lawyers who were allegedly involved in structuring and approving loans between Alameda and FTX.United States Judge Lewis Kaplan granted the government’s motion and ruled that Bankman-Fried’s legal team would have to request permission to make any mention of FTX lawyers’ involvement throughout the trial.SBF’s attorneys argue that the prosecution has already established that FTX lawyers were present and involved in structuring and executing the loans and intend to carry out their own line of questioning over the scope of FTX counsel involvement.The defense adds that it could potentially introduce promissory notes that memorialized the loans to Wang, who has previously indicated to the prosecution in proffer meetings that he did not suspect FTX lawyers would coerce him to sign illegal agreements.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Best Crypto Exchanges in 2023: Fees and Coins ComparedAscending to 61% of all transactions, Ethereum’s Layer-2 networks were home to a majority share of activity in the third quarter, according to Messari’s latest State of Ethereum report. So, while BitVM introduces an innovative approach to bring Turing-complete contracts to Bitcoin, practical limitations may prove to undermine its utility.

In the thread, Bankman-Fried takes aim at his competitors, stating that the narrative that Alameda and FTX are too close "...has been largely spread by competitors of FTX, looking to distract from their problems. And, it's not true." Yet, to Bankman-Fried, "...the PR cost is not worth it." The BTC price also broke out from a descending resistance trendline on September 28. It reached a high of $28,580 four days later. The high was incrementally above that on August 29. Crypto.com Delists USDT Stablecoin in CanadaFinally, Uniswap will be collaborating with to Polygon by the end of 2022, making all V3 contracts go live on the Polygon PoS mainnet. PEPE experienced rapid growth, however later fell prey to internal team issues, and a controversial token transfer, leading to a market downturn.

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