According to CoinDesk, "Notcoin's delayed entry event caused a big shake-up in the Bybit management team." The Bybit cryptocurrency exchange confirmed the report, stating that several executives have been "reassigned" after the failed issuance of Notcoin (NOT) resulted in 3.2 million users receiving $23 million in compensation. A Bybit spokesperson said, "We are aware of recent news regarding changes in our management team. Bybit regularly updates its organizational structure to align with our strategic goals. We are committed to placing the right people in the right positions with our team." The spokesperson added, "We prioritize customer interests and have conducted a thorough internal review to enhance future customer experiences. This improvement has led to changes in some leadership roles, which we believe are essential." On May 16th, users experienced delays when depositing newly issued Notcoin into Bybit, causing them to be unable to immediately sell their assets and resulting in losses. The exchange received 370,000 on-chain transactions, with 70% of deposits credited before market opening.
#BinancePizzaDay

Bitwise Asset Management's General Counsel and Chief Compliance Officer, Katherine Dowling, talks about the progress made on digital asset legislation and crypto ETFs at Consensus 2024.
#BinancePizzaDay

NFT data platform shows that the sales of NFT in May was 624 million US dollars, a decrease of 54% compared to April (1 billion US dollars).
#BinancePizzaDay

As bankruptcy costs continue to rise, FTX lawyers and advisors have approved over $500 million in fees from bankruptcy assets. It is reported that the institution responsible for overseeing the bankruptcy process has requested payment of over $700 million in fees and expenses, although many requests have been reduced by 20% and some requests have not yet been approved. According to court documents, Sullivan and Cromwell, FTX's special advisor in the bankruptcy case, topped the list with approved fees of $254 million (although their bill amount was $360 million), followed closely by financial advisor Alvarez and Marsal with approved fees of $133 million. Other law firms and advisors include legal investigation advisor AlixPartners, special advisor Quinn Emanuel Urquhart & Sullivan, investment banker Perella Weinberg Partners, and joint advisor Landis Rath & Cobb, who together charged $57 million in fees.
#BinancePizzaDay

The Stargate cross-chain bridge community has completed the LayerZero token distribution proposal RFP vote, with a total of 96.77% approval votes. The proposal includes the final choice between providing the initially approved RFP for Stargate and the second amended RFP. Proposal one includes reducing cross-chain distribution from 42% to 40%; reducing partner agreement distribution from 18% to 15%; increasing veSTG holder distribution from 20% to 25%; the additional 5% allocated to veSTG holders will serve as a reward for voters who have at least 1 vote in the snapshot, with the cumulative voting score as the measure; and the multiplier for early voters (before the 1-year mark) will also be increased to 1.5x (previously 1.3x). Proposal two remains unchanged.
#BinancePizzaDay

Metal L2 will undergo a smart contract upgrade on June 24th to ensure a smooth transition for wallets holding Metal DAO (MTL) tokens. The snapshot date is June 24th and the airdrop date is June 26th. If using a supported non-custodial wallet, switching networks after the airdrop will allow you to see your MTL balance on the Metal L2 mainnet. MTL v1 tokens will be converted to MTL v2 tokens at a 1:1 ratio. Wallets supported by Metal L2 include WebAuth, MetaMask, and others.
#BinancePizzaDay

Insiders revealed that Hidden Road, a brokerage firm supported by Citadel Securities, will stop providing its clients with the opportunity to trade on the cryptocurrency exchange Bybit. Insiders said that Hidden Road informed its clients of this decision several weeks ago. This move was triggered by differences between the two companies in understanding customers and anti-money laundering requirements on Bybit.
#BinancePizzaDay

On May 28th, according to Lookonchain monitoring, an address sold all of its 539,558 WIF tokens at an average price of $3.7, receiving 11,708 SOL tokens worth approximately $2 million. The address has realized profits of $24.1 million on WIF, $11 million on BODEN, and $6.28 million on BONK.
#BinancePizzaDay

FLock.io has launched its network application train.flock.io for its AI training platform. By integrating private data and on-chain rewards, FLock ensures fair incentives and promotes open collaboration. It meets the needs of Web3 and Web2 projects for customized AI models, while protecting data privacy by training models without exposing source data.It is reported that this beta test brings Web3 closer to providing traceable contributions and on-chain incentives for data owners, model developers, and computing providers, creating specialized models for different communities.
#BinancePizzaDay

Mt.Gox's Bitcoin holdings have been transferred to three new wallets in the past hour, as monitored by Arkham. All wallets received their first test transaction about four hours ago. Each address contains 47,230 BTC.
#BinancePizzaDay

The Sandbox, a decentralized gaming platform, has launched its decentralized autonomous organization (DAO) called Sandbox DAO, which aims to increase transparency and community involvement. The initiative will be rolled out in three phases, with the first phase allowing community members to vote on Sandbox Improvement Proposals (SIPs) while the company still manages some operations. The second phase will see the DAO move towards self-reliance, and the third phase will mark a complete shift to community-driven governance. The Sandbox has assembled a leadership team to guide the transition, and community members who own at least 5 SAND or 1 LAND can vote on initial SIPs starting from May 28.
#BinancePizzaDay

Wbe3 Entertainment Studio and technology company Feature.io completed a $1.9 million financing round. InterVest, 2PunksCapital, Avalanche, Acme Innovation, and SterlingVC participated, but specific valuation data has not been disclosed. Feature uses its Smart Content™ smart contract technology to connect audiences with brands through interactive touchpoints. These touchpoints can be seamlessly embedded into content that audiences and users love, and each interaction generates automatic rewards, creating revenue streams for users and brands.
#BinancePizzaDay

On May 26th, the Arbitrum community's "2 Billion ARB Game Catalyst Plan" proposal has started on-chain voting. The proposal aims to provide a three-year incentive plan for the Arbitrum ecological game, with a total of 2 billion ARB tokens, with the goal of providing momentum for the Arbitrum game ecosystem through Web3 industry studios and games. The voting will end in 12 days.
#BinancePizzaDay

Malaysian law enforcement recently arrested ten suspects allegedly involved in money laundering using cryptocurrency. Assets worth more than $7.7 million, including cars, were seized, and bank accounts holding around $10.8 million were frozen. Law enforcement also confiscated luxury watches worth more than $3.9 million, 18 luxury cars, motorcycles, handbags, and a total of $106,800 in cash. Malaysian Police Chief Tan Sri Abdul Hamid Bador revealed that the eight men and two women between the ages of 28 and 51 used unregistered currency exchange dealers and cryptocurrency exchanges to transfer illegal activity funds from abroad to Malaysia. They have reportedly been detained under Section 4(1) of Malaysia's Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
#BinancePizzaDay

Sei announced that Proposal 55, which proposes an upgrade to V2 version, has been voted in favor. The Sei V2 mainnet upgrade will take place on May 27th.
#BinancePizzaDay

According to ZachXBT's monitoring, someone lost approximately 1807 Ether.fi-Liquid1 (LQIDETHFIV1), which is equivalent to 6.9 million US dollars, due to a phishing scam. In response, SlowMist founder, Yu Xian, posted on X platform saying, "Another huge amount lost to phishing, nearly 7 million US dollars of ETH and collateral assets...from the old phishing group Inferno Drainer. The reason is still related to the offline authorization signature of the permit that was phished. Is the phishing method of bankrupting with just one click still unknown to many people? I hope the victims can come forward and share their experiences, especially about the wallets they were using..."
#BinancePizzaDay

Arthur Cheong, founder and CEO of DeFiance Capital, stated on social media that over 70% of spot BTC ETFs are held by retail investors.
#BinancePizzaDay