Customers of WazirX, the Indian cryptocurrency exchange that suffered a $234 million hack in July, are unlikely to recover their funds in full through the ongoing restructuring process, a company legal adviser said on Monday.
George Gwee, a director at restructuring firm Kroll working with WazirX, said that at least 43% of the money any customer had in WazirX is unlikely to be recovered. Last week, WazirX asked a Singapore High Court for six months’ protection while it restructures its liabilities.
The best case scenario is a return of “anywhere between 55% and 57% of the funds,” Gwee told journalists. Under a restructuring, WazirX’s priority will be to distribute remaining token assets to users in a pro-rata manner via crypto, it said. The company is holding discussions to share profit from its revenue-generating products, it added, without giving any concrete details.
The hack, which occurred in July, is the largest cryptocurrency theft in India to date and has sent shockwaves through the country’s crypto industry. The company has been scrambling to find ways to return money to its customers ever since. In July, it proposed that it would socialize the “force majeure” loss.
During the press conference, WazirX representatives avoided many questions about its efforts to shore up capital. The company said it’s holding talks with an unnamed white knight, but said the capital won’t be raised against equity because of anongoing dispute with Binance, the world’s largest cryptocurrency exchange — Binance and WazirX have been closely linked at some point.
In late 2019, Binance announced the acquisition of WazirX in a blog post, but later disputed that it had acquired the firm. After a public row, the cryptocurrency exchange terminated its tech offerings to the Indian firm in 2022.
Asked about Binance’s ownership of WazirX, the Indian firm declined to comment. When questioned about selling WazirX as part of the restructuring, the company representatives stated that such a sale was not possible.
Asked if the firm could pursue legal actions against Binance and Liminal, the multisignature wallet provider whose system was allegedly compromised during the hack, WazirX representatives had no clear answer.
The pressure is mounting WazirX as CoinSwitch, another major Indian crypto exchange, initiated legal action against WazirX last week to recover approximately about $9.7 million worth of assets stuck on WazirX’s platform.
WazirX counts Indian law enforcement agencies among its customers.
#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #WazirX
$BTC

$DOGE
A colossal transfer of Dogecoin shakes the markets. A transaction of 118 million DOGE, equivalent to approximately 13.3 million dollars, was made to Binance. This news, relayed by Whale Alert, a service that tracks large-scale crypto movements, has triggered a wave of speculation about the intentions of the involved parties. This significant movement could be a strong signal of upcoming trends for Dogecoin.
Unexpected Transfer and Immediate Speculations
A recent significant transfer of Dogecoin attracts the attention of the crypto community and raises many speculations, due to its magnitude and timing. Indeed, the current market context is marked by a recovery in crypto prices, stimulated by indications from the US Federal Reserve regarding possible future interest rate cuts.
According to analysts, this movement could be related to profit-taking activities. A hypothesis reinforced by the recent surge in Dogecoin prices, reaching peaks at $0.1155 before pulling back. Analysts indicate that such deposits to exchange platforms are often associated with selling intentions. However, this transfer could also be an internal adjustment made by an institution or an actor looking to reposition their assets in a volatile market environment.
Dogecoin: Between Short-Term Fragility and Rebound Potential
Beyond this transaction, in the short term, Dogecoin has shown signs of weakness, with a 1.72% decline in the last 24 hours. If this downward trend continues, it could indicate a disengagement from major investors, which would increase selling pressure on the market and limit the chances of a rapid price recovery.
However, this could be a preparatory strategy for a more significant rebound. If Dogecoin manages to surpass the 50 SMA level at $0.1133, it could trigger a new wave of buying. Such a situation could potentially propel this crypto to new highs of $0.14 or even $0.18.
In conclusion, this massive transfer of Dogecoin to Binance fuels speculations about the future of this crypto. While some predict an imminent sale, others see it as a strategic reorganization. Furthermore, it is interesting to note that, despite alarming forecasts, the number of Dogecoin addresses continues to increase, an indicator that could offer unexpected perspectives.
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
$DOGE $DOGS

Between revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battlefield for regulatory and economic battles. Here is a summary of the most significant news of the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.

Arrest of Telegram CEO and TON Crypto Crash
On August 24, 2024, Pavel Durov, CEO and founder of Telegram, was arrested in France, accused of pedocriminality and complicity in various crimes due to the weak moderation on the Telegram platform. This arrest, which took place at Le Bourget airport, immediately caused a 13% drop in the price of Toncoin (TON), which now trades around $5.530. The charges against Durov also include drug trafficking, fraud, and terrorism, raising essential questions about the responsibility of online platforms within the context of international laws. This case could mark a major turning point in the history of the internet and cryptocurrencies, redefining moderation and security standards on digital platforms.
Bitcoin en pleine ascension grâce aux rumeurs sur la Fed
Bitcoin recorded a significant increase after the recent statements by Jerome Powell, Chairman of the Federal Reserve (Fed), hinting at a possible interest rate cut in September. These remarks have revived optimism in the financial markets, with investors anticipating monetary easing in response to signs of economic slowdown and declining inflation. As a result, Bitcoin jumped 1.6% in a few hours, reaching around $61,572, with a significant increase in trading volume. This bullish trend reflects growing interest in digital assets, perceived as attractive alternatives compared to potentially less profitable traditional investments in the event of rate cuts.
Binance rejects IPO and hires massively
Binance has decided not to go public, preferring to focus on a sustainable long-term growth strategy. Teng plans to make Binance a prosperous company for the next 50 to 100 years, avoiding the constraints imposed by public markets. In parallel, the crypto exchange has launched an ambitious recruitment campaign, planning to hire nearly 1,000 new employees to support its continuous expansion in the crypto sector. This decision is part of a desire to strengthen its leadership and innovate without the pressures of an IPO. By investing massively in its human capital, Binance positions itself to seize market opportunities while consolidating its place as a world leader in the cryptocurrency ecosystem.
XRP: A global rise in power
XRP, Ripple’s token, stands out on the international scene despite regulatory uncertainty in the United States. Its growing adoption by financial institutions worldwide testifies to its resilience and its capacity to revolutionize cross-border payments. Strategic partnerships have been established in regions such as South America, Europe, Asia, and even Africa and Oceania. For example, in Colombia, the Central Bank tested a Central Bank Digital Currency (CBDC) on the Ripple platform, while in Brazil, Ripple collaborates to improve payment systems. In Europe, Ripple partners with Clear Junction to facilitate transactions between the EU and the UK. In Asia, its partnership with SBI Holdings paves the way for using XRP for cross-border remittances in emerging markets. In Africa and Oceania, Ripple strives to strengthen payment systems, even testing stablecoins.
Bitcoin: Strong comeback with 56.2% market dominance
Bitcoin (BTC) continues to strengthen its dominant position in the cryptocurrency market, reaching a market share of 56.2% in August 2024, compared to 38.7% in November 2022. This rise reflects investors’ confidence in Bitcoin as a safe haven, especially in times of economic uncertainty. However, this dominance has slightly decreased recently, falling to around 55%, which could pave the way for an altcoin season, where alternative cryptocurrencies could capture a larger share of investments. The dynamic of Bitcoin’s dominance remains a key indicator of the health of the crypto market, influenced by BTC’s price fluctuations and altcoin performances. The outlook for Bitcoin suggests that it could continue to be favored by investors seeking to minimize risks, thereby consolidating its dominant position.
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
$BTC
$ETH
$BNB

The majority of the losses were recorded in less than an hour after Bitcoin lost the key $61,000 support level.

Bitcoin (BTC) fell over 6% on Aug. 27 to a low of $57,880 before marking a slight recovery.
The majority of the losses were recorded in less than an hour after Bitcoin lost the key $61,000 support level and continued sliding until finding a new floor.
As of press time, the flagship crypto was still down 6% over the past 24 hours and trading at $59,300 as bulls attempt a recovery, based on CryptoSlate data.
The wider market echoed the bleeding, with large caps down significantly from the highs reached over the past weekend.
Large caps bleed
Ethereum (ETH) was hit the hardest during the period, falling almost 10% on the day to a low of $2,388 before bulls regained control. Meanwhile, Solana (SOL) fell to a low of $145 before notching a recovery.
As of press time, ETH and SOL were trading at $2,454 and $147 — down 8.6% and 6.5%, respectively, over the past 24 hours. BNB fared slightly better and was down 3.6% as of press time and trading at $529.
The rest of the top 10 were all down between 5% and 7%, with the exception of TRON, which was down 2% as of press time.
Meanwhile, Toncoin (TON) was trading against the market and up 4.8% over the last 24 hours. However, the coin is down 20% over the past week following the arrest of Telegram founder and CEO Pavel Durov in France.
Liquidations
Over the past 24 hours, the market experienced over $300 million in liquidations, with the majority taking place within the past four hours, based on Coinglassdata.
Most of the liquidations were long positions, with roughly $193.16 million rekt over the last four hours. Meanwhile, short liquidations stood at $12.03 million over the same period.
Bitcoin long liquidations accounted for $73.35 million of the amount, while Ethereum long liquidations amounted to $59.99 million. Solana’s long liquidations stood at $8.9 million, rounding out the top three.
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
$BTC

Juli Vavilova, is a gamer and streamer, who has been spotted with Durov in the days leading up to his arrest.

A woman who goes by the Juli Vavilova was detained when French police arrested Pavel Durov, CEO of the widely-used messaging app Telegram, last Saturday. The woman’s involvement, whom many on the internet have termed as ‘mysterious’ has led many to speculate if it was her videos and social media posts that led to Durov’s arrest.
France held the Russian-born founder of Telegram Pavel Durov in custody for a second day of questioning Monday over alleged offences related to the popular but controversial messaging app, which insisted he had “nothing to hide". He is being accused of failing to stop various kinds of criminality on his platform.
Durov had arrived in Paris from Baku, Azerbaijan, and was planning to have dinner in the French capital, a source close to the case told news agency AFP.
He was accompanied by a bodyguard and a personal assistant who always accompany him, the person mentioned above said.
Vavilova has been spotted with Pavel on multiple occasions in the days leading up to his arrest. The duo has travelled to Kazakhstan, Kyrgyzstan, and Azerbaijan before travelling to France and getting nabbed by law enforcement authorities after flying into Le Bourget airport outside Paris.
Internet sleuths have pointed out that Vavilova shared photos of their trips on her Instagram and speculated that she could have led the authorities to them.
A source close to the case expressed surprise while speaking to AFP that Durov had flown to France with a warrant against him. “Perhaps he had a feeling of impunity," the person said.
Baptiste Robert, the CEO of Predicta Lab, a website that claims to fight online misinformation, reposted a video shared by Open-Source Intelligence (OSINT) account Amir Intel, where Vavilova is seen thanking her friends help her bypass Russian sanctions by taking payment in cryptocurrency.
He also said that it is hard to assume if Vavilova and Durov were dating.
They had posted photos from the same locations before his arrest. Durov had posted pictures of him driving a racing car and practicing shooting and hours later Vavilova had posted videos from the same location and doing the same activities on her Instagram account.
“When Russia went under sanctions, my smart friends, I’m really glad that I have my smart friends around me who educate me about crypto, who gives me opportunities, and other stuff. He just told me, the same day, send all the crypto, to trust the wallet," she could he heard saying to her followers on a livestream.
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO
#PowellAtJacksonHole #CryptoMarketMoves
$BTC

Toncoin loses $2.7 billion in market value after Telegram co-founder Pavel Durov's detention in Paris.

A digital asset from a blockchain project linked to Telegram Messenger LLP has lost about $2.7 billion in market value, reflecting the uncertainty sparked by the detention of the messaging app’s co-founder.
Toncoin, the token of The Open Network, slid more than 20% after Pavel Durov was reportedly taken into custody at a Paris airport on Saturday on suspicion of failing to take steps to prevent criminal use of Telegram.
The 10th largest cryptoasset pared some of the drop to trade at $5.69 as of 10:36 a.m. Monday in Singapore but is still down 16% as a result of the unfolding drama over 39-year-old Durov, according to data complied by Bloomberg.
The Open Network — or TON — blockchain has access to Telegram’s 900 million monthly users via a partnership and seeks to enable services such as in-app payments and games. TON’s rise spurred speculation that Telegram has a shot at becoming a “super-app” in the style of Chinese giants like WeChat.
Venture Backing
The three-year-old foundation behind the project says it’s separate from Telegram. But the ties between Telegram and TON turned the latter into one of crypto’s most-hyped initiatives. Pantera Capital Management LP in May described a purchase of Toincoin as the firm’s largest-ever investment.
Billionaire Durov is also Telegram’s chief executive officer. The Dubai-based company issued a statement saying it abides by European laws, including the Digital Services Act, and that Durov has “nothing to hide.”
It’s “too early to tell” what impact Durov’s detention will have on Telegram longer term, said Richard Galvin, co-founder of hedge fund DACM, which purchased TON tokens in a private round in early 2023. The weekend market reaction “factored this uncertainty into the TON price” for now, he added.
Galvin said the key appeal of the TON-Telegram relationship “is the ability to introduce Telegram’s vast user base to crypto functionality,” and that “anything that weakens the competitive position of Telegram is negative for TON.”
Free-Speech Debate
Governments have faulted Telegram’s relatively light-touch approach to content moderation for encouraging criminality, while free-speech proponents praise the platform as a venue for open discussion. Telegram is popular with the crypto community, for instance for sharing investment tips. 
TON on its X social-media account joined the likes of Elon Musk in expressing backing for Durov, reposting the hashtags #FreePavel and #FREEDUROV and changing its logo to the “Resistance Dog” in a further show of support.
The value of assets locked on the TON blockchain surged this year to a peak of $1.1 billion last month but the figure has now retreated to $661 million, data from DefiLlama show. Toncoin’s price more than tripled in the past year and the token has a current market value of about $14.4 billion, according to CoinGecko.
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
$BTC
$TON

There are now 85,400 Bitcoin millionaires, more than double the amount from 2023. 

The number of Bitcoin millionaires around the world soared by 111% in the last year, with 85,000 people now holding over $1 million in BTC, according to a new wealth survey. 
According to the Crypto Wealth Report 2024 from Henley and Partners, the number of people holding more than $1 million in Bitcoin
$BTC 59,226
In May, Cointelegraph spoke with several newly minted crypto millionaires about the many changes they experienced as a result of their crypto wealth.
The price of Bitcoin has grown 142% in the last year, growing steadily from a price of $26,100 on Aug. 27, 2023, to a price of $63,100 at the time of publication, according to TradingView data. 
The firm’s head of private clients, Dominic Volek, pinned the introduction of spot Bitcoin exchange-traded funds as the main driver behind the rapid growth in the number of new millionaires and the broader rally in the crypto sector. 
The roster of spot Bitcoin products witnessed over $200 million in fresh inflows on Aug. 26, marking the largest single day of inflows in the last 35 days. more than doubled to 85,400 by July 30. 
It wasn’t just Bitcoiners, either. There are now 172,300 people around the world who hold more than $1 million in cryptocurrency, up 95% from 88,200 this time last year. 
The “upper echelons” of the crypto wealthy also saw a significant boost, with the number of crypto centi-millionaires — people holding over $100 million in crypto — growing 79% to 325. 
Six new crypto billionaires were also minted in the last year, bringing the total number of nine-figure crypto holders to 28.
The report said it rounded millionaire statistics to the nearest hundred and measured the growth between July 1, 2023, and June 30, 2024. The firm said statistics in its 2024 report were based on a mix of “in-house wealth tier models” and open-source information from major crypto platforms such as CoinMarketCap, Binance, BscScan and Etherscan.
Andrew Amoils, the head of research at New World Wealth, said that while the crypto “millionaire band” had witnessed the highest growth, the increase in the number of billionaires was primarily driven by Bitcoin. 
“Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings,” said Amoils in an Aug. 27 statement. 
In May, Cointelegraph spoke with several newly minted crypto millionaires about the many changes they experienced as a result of their crypto wealth.
The price of Bitcoin has grown 142% in the last year, growing steadily from a price of $26,100 on Aug. 27, 2023, to a price of $63,100 at the time of publication, according to TradingView data. 
The firm’s head of private clients, Dominic Volek, pinned the introduction of spot Bitcoin exchange-traded funds as the main driver behind the rapid growth in the number of new millionaires and the broader rally in the crypto sector. 
The roster of spot Bitcoin products witnessed over $200 million in fresh inflows on Aug. 26, marking the largest single day of inflows in the last 35 days. 
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
$BTC

$BTC The population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report.There are now 172,300 individuals worldwide holding over $1 million in crypto assets, according to a report from New World Wealth and Henley & Partners. The number of pure bitcoin millionaires more than doubled, to 85,400.The surge reflects the rapid growth of bitcoin ETFs, awhich now have over $50 billion in assets since their launch in January.
The population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report.
There are now 172,300 individuals worldwide holding over $1 million in crypto assets, up from 88,200 last year, according to a report from New World Wealth and Henley & Partners. The number of pure bitcoin millionaires more than doubled, to 85,400.
The ranks of the crypto rich have grown all the way up the wealth ladder. There are now 325 crypto centi-millionaires (those with $100 million or more in crypto holdings), and 28 crypto billionaires, according to the report.
The surge reflects the rapid growth of bitcoin ETFs, which now have over $50 billion in assets since their launch in January and have touched off a wave of institutional participation.
The price of bitcoin has jumped 45% this year to about 64,000. As other coins have increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley, up from $1.2 trillion last summer.
Of the six new crypto billionaires created over the past year, five can attribute their newfound wealth to bitcoin, "underscoring its dominant position when it comes to attracting long-term investors who buy large holdings," according to Andrew Amoils, head of research for New World Wealth.
According to Forbes, the richest crypto billionaire (for the third year in a row) is Changpeng Zhao, the founder and former CEO of crypto exchange Binance, who's worth an estimated $33 billion. Zhao pled guilty to U.S. money laundering charges in November and agreed to pay a $50 million fine. His wealth has soared by more than $10.5 billion over the past year.
Ranking second is Brian Armstrong, the co-founder of Coinbase, worth an estimated $11 billion, according to Forbes. He's followed by Giancarlo Devasini, the chief financial officer of Tether; and Michael Saylor, the cofounder of MicroStrategy, according to the list.
Granted, many crypto assets are still below their 2021 highs, and bitcoin's recent rise essentially marks a three-year round-trip to those levels. Crypto assets reached a market cap of $3 trillion in November of 2021.
Yet the growing acceptance of crypto assets among big asset managers like BlackRockand Fidelity, with help from Morgan Stanley's salesforce of 15,000 brokers, could fuel further wealth creation among large crypto holders.
Crypto will not only create more millionaires and billionaires, but it will also change where the rich live and work. According to Henley, many of the newly crypto rich are looking to move to tax-friendly and crypto-friendly jurisdictions.
"We've seen a significant uptick in crypto-wealthy clients seeking alternative residence and citizenship options," said Dominic Volek, head of private clients at Henley & Partners.
To better advise the new crypto nomads, Henley created a "Crypto Adoption Index," ranking countries according to their tax and regulatory approach to crypto. Singapore ranks first on the index, due to its "supportive banking system, significant investment, comprehensive regulations such as the Payment Services Act, regulatory sandboxes, and alignment with global standards," according to Henley.
Hong Kong ranked second, followed by the United Arab Emirates and the United States. In the U.S., according to the report, 15% of the population owns cryptocurrencies: "This is supported by strong infrastructure, with a high density of crypto ATMs, crypto-friendly banks, and an increasing number of businesses accepting cryptocurrency," the report said.
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
$BTC

The value of funds taken in hacking activities and ransomware attacks rose during the first seven months of the year.
These increases were driven by the higher value of bitcoin and by ransomware attacks targeting larger organizations, Chainalysis said in a Thursday (Aug. 15) crypto crime mid-year update.
Stolen funds inflows rose by about 84% during the first seven months of 2024 compared to the previous year, rising from $857 million to $1.58 billion, according to the update.
Part of the increase in the value of funds stolen is attributable to the rise in the price of bitcoin, per the update. While the number of hacking incidents rose by 2.76%, the average amount of value compromised per event — based on the value of the assets at the time of the theft — increased by 79.5%.
The update also said cybercriminals are increasingly stealing funds by using off-chain methods like social engineering — including applying for IT jobs — to infiltrate crypto-related services.
Ransomware inflows rose by about 2%, from $449.1 million to $459.8 million, according to the update.
Cybercriminals are carrying out fewer high-profile ransomware attacks but are collecting larger payments. Between early 2023 and mid-June 2024, the median ransom payment in these attacks leaped from about $200,000 to $1.5 million, per the update.
Chainalysis said in the update that this spike in the value of ransom payments suggests that cybercriminals are “prioritizing targeting larger businesses and critical infrastructure providers that may be more likely to pay high ransoms due to their deep pockets and systemic importance.”
Ransomware attacks launched during the first half of 2024 have sparked concerns that fraudsters may be deliberately targeting businesses whose customers and end users would suffer greatly from ongoing and extended disruptions to business to exert more pressure on these organizations to pay a ransom, PYMNTS reported in July.
In April, House Financial Services Committee Chairman Patrick McHenry of North Carolina and Rep. Brittany Pettersen of Colorado reintroduced the “Ransomware and Financial Stability Act,” a bill designed to protect the country’s financial infrastructure from ransomware attacks.
The legislation includes deterrents targeting hackers as well as guidelines to help financial institutions respond to ransomware attacks.
#LowestCPI2021 #BinanceLaunchpoolTON #MarketDownturn #SahmRule #BlackRockETHOptions
$BTC

Metamask has teamed up with Mastercard and Baanx to launch a debit card that lets users spend their crypto assets directly from their self-custody wallets. Consensys, the firm behind the project, views this new card as a pivotal step in weaving digital currencies into everyday life.
Mastercard and Metamask Team Up to Launch Crypto Debit Card
As per the announcement, Metamask’s debit card aims to empower users to make purchases with cryptocurrency without the need to convert funds into fiat through conventional banking. Backed by Baanx’s technology and Mastercard’s network, the card ensures users maintain control over their digital assets until the moment of transaction.
Metamask revealed that during purchases, the crypto is instantly converted to fiat, allowing for smooth and effortless use both online and in stores. This feature, Metamask noted, aims to break down the traditional barriers that have made it challenging for cryptocurrencies to gain traction in everyday transactions.
Operating on the Linea network, a layer two solution on Ethereum, the card supports transactions in USDC, USDT, and WETH. Though initially rolled out as digital-only cards for a few thousand users in the U.K. and Europe, there are plans for broader distribution and additional features in the near future.
“Metamask Card represents a major step to removing the friction that has existed between the blockchain and traditional payments,” Lorenzo Santos, senior product manager at Consensys said on Wednesday. “This is a paradigm shift that offers the best of both worlds.”
#BinanceLaunchpoolTON #MarketDownturn #BTC #BinanceTurns7 #BinanceSquareFamily
$BTC

Senate Majority Leader Chuck Schumer is optimistic about passing bipartisan crypto legislation by year’s end, stressing the importance of collaboration to keep the U.S. at the forefront of innovation. At the “Crypto4Harris” event supporting Vice President Kamala Harris’ campaign, Schumer emphasized the inevitability of cryptocurrency and the need for well-crafted legislation.
Schumer Optimistic About Bipartisan Crypto Regulation
Senate Majority Leader Chuck Schumer expressed optimism Wednesday evening about the Senate’s ability to pass a bipartisan crypto legislation by the end of the year.
Speaking at “Crypto4Harris,” a virtual town hall event designed to raise funds for Vice President Kamala Harris’ presidential campaign, Schumer highlighted the urgency of bipartisan cooperation in crafting sensible legislation. Underscoring the potential for progress despite political differences, the senator remarked:
Passing legislation this year is absolutely possible, even in these divided times.
He also emphasized the importance of maintaining the United States’ leadership in innovation, stating: “My goal when it comes to crypto regulation is this: I want to bring members on both sides of the aisle here in the Senate together… so we can pass sensible legislation that helps the United States maintain its status as the most innovative country in the world.”
Schumer’s statements were part of a strategic effort by Democrats to reshape their image as pro-crypto, aligning with Harris’ campaign. During the event, which included Senators Kristen Gillibrand and Debbie Stabenow, Schumer made it clear that the digital asset sector is here to stay, stating:
Crypto is here to stay no matter what. So Congress must get it right.
#BinanceLaunchpoolTON #btc #BinanceEarnProgram #BinanceEarnProgram
$BTC

Arkham Intelligence data shows that a wallet associated with the US government transferred 10,000 BTC, worth $593.5 million, to Coinbase Prime on Wednesday. Bitcoin Spot ETFs recorded a mild outflow of $81.40 million on Wednesday.On-chain data shows that BTC's daily active addresses are decreasing, signaling a bearish move ahead.
Bitcoin (BTC) price trades in the red for a second consecutive day on Thursday, down by 1.16% at $58,105. Sentiment around the main crypto asset seems to have deteriorated after Arkham Intelligence data showed that a wallet associated with the US government transferred 10,000 BTC, worth $593.5 million, to Coinbase Prime. Additionally, Bitcoin Spot ETFs recorded a mild outflow of $81.40 million, snapping a streak of two days of minor inflows.
 
Daily digest market movers: US government transfer weighs on Bitcoin
Arkham Intelligence data shows that on Wednesday, a wallet associated with the US government transferred 10,000 BTC, worth $593.5 million, to Coinbase Prime. These funds were related to Silk Road Confiscated Funds by the US Department of Justice (DOJ).Historical data from Lookonchain shows that US government-related transfers earlier this year have led to an approximate 5% drop in Bitcoin's price within three days. As Wednesday’s transfer of 10,000 BTC was the largest known this year so far, it could generate FUD (Fear, Uncertainty, Doubt) among traders, potentially contributing to a decline in Bitcoin's price.
Data from Coinglass shows that US-listed Bitcoin Spot ETFs recorded a mild outflow of $81.40 million on Wednesday. This highlights the importance of monitoring these net flows to gauge market dynamics and investor sentiment. Still, these outflows are very small, considering that the total Bitcoin reserves held by the 11 US spot Bitcoin ETFs are now at $55.15 billion.Santiment's Daily Active Addresses index, which helps track network activity over time. A rise in the metric signals greater blockchain usage, while declining addresses point to lower demand for the network.In BTC's case, Daily Active Addresses declined 6.5% from Tuesday to Thursday and have been falling constantly since mid-March, indicating that demand for BTC's blockchain usage is decreasing.Technical analysis: BTC finds rejection around $62,000 levelBitcoin price has retested and failed to overcome the 61.8% Fibonacci retracement level of $62,066, drawn from the swing high of $70,079 on July 29 to the low of $49,101 on August 5. As of Thursday, it trades down 1.16% at $58,105 at the time of writing.If $62,066 holds as resistance and BTC continues to decline, it could crash 15% from the current level towards $58,105 and even retest its daily support level of $49,917.On the daily chart, the Relative Strength Index (RSI) and Awesome Oscillator (AO) trade below their neutral levels of 50 and zero, respectively, suggesting an impending bearish trend.BTC/USDT daily chartHowever, if Bitcoin price is able to close above the August 2 high of $65,596, it would set a higher high on the daily chart, possibly leading to a 6% price increase and testing the weekly resistance at $69,648#MarketDownturn #btc #BinanceLaunchpoolTON #Babylon_Mainnet_Launch #BlackRockETHOptions $BTC

Pi coins earned by scripts, bots and inactive accounts can be "freed up," enabling genuine Pioneers to mine them in the future.

Pi Network, the revolutionary blockchain platform, may announce a new regulation that Pi Coins earned by scripts, bots, or abandoned accounts might not be transferred to the Mainnet.
According to unverified reports, the platform aims to reward genuine users by releasing these unclaimed Pi Coins coins back into circulation for active mining. This would mean Pi coins earned by scripts, bots and inactive accounts are  “freed up,” enabling genuine Pioneers to mine them in the future. 
This move is reportedly aimed at rewarding dedicated users and maintaining the integrity of the Pi ecosystem.
It’s important to note that this information was shared by the X account ‘@PiRevolutionX’, which is not an official Pi Network handle. Pioneers should await an official announcement from Pi Network for confirmation. 
However, the policy would significantly reduce misuse within the network, ensuring that only legitimate activity is rewarded, by preventing bot-mined and inactive accounts from migrating their Pi Coins to the Mainnet.
This policy’s introduction can boost Pi Network’s commitment to maintaining an honest and equitable environment. By ensuring that only active Pioneers get mining rewards, this strategy upholds justice and increases the ecosystem’s overall integrity and worth.
The policy may offer numerous important benefits to current Pioneers. The Pi that is released from unauthorized or dormant accounts will not be shifted to the mainnet and indirectly removed from circulation, offering more chances for users to mine their balance higher.
Furthermore, Pioneers may be highly motivated to stay involved and make contributions to the network by the possibility of sharing Pi. The policy seeks to create a more lively and just Pi Network community by promoting wider and more varied involvement.
It’s crucial to remember that although there has been enthusiasm over this possible regulation, Pi Network’s approved outlets have not formally confirmed the information. Before making any judgments, pioneers should wait for official statements.
#PiNetworkMainnet #PiNetworkkyc #btc #BinanceEarnProgram
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FBI breaks silence about Bitcoin creator Satoshi Nakamoto
Dave Troy, prominent investigative journalist and entrepreneur, has recently made a Freedom of Information Act (FOIA) request to the FBI, in which he asked for information about Satoshi Nakamoto, anonymous creator of Bitcoin. The bureau responded to the request, stating that Satoshi could be "one or more third-party individuals" and that it can "neither confirm nor deny" the existence of records about them. As follows from Troy's comment to the FBI's response, this is a typical answer for requests concerning non-U.S. persons. The journalist wrote that he intends to appeal the response, adding that his goal is not to identify the person behind the pseudonym, but to obtain any information the FBI may have on the subject.

XRP sees $12 billion surge: What's happening?
XRP has recently witnessed a substantial increase in its real trading volume; according to on-chain data, this metric grew by $12 billion. It often correlates with increased market activity and can potentially impact price movements. The increase in volume implies a new interest in XRP, which could be a result of a change in the sentiment of the institutional interest market, or major transactions made by large holders. When volume rises, more people usually enter the market, either as buyers or sellers. When it comes to XRP, this could suggest that investors are gearing up for a future move, possibly due to speculation or in reaction to recent developments on the cryptocurrency market. However, despite the increase in volume, XRP's market cap dominance remains low - about 1.4%.
Arthur Hayes predicts epic altcoin season, but only after this
BitMex cofounder Arthur Hayes recently released an essay entitled "Water, Water, Everywhere," in which he shared his opinion on the future prospects of the crypto market. Hayes believes that the market is about to face a dramatic shift. He underlined the apparent correlation between a decline in funds inside the reverse repurchase agreement (RRP) market and an increase in the Bitcoin price. As more money flows into the system from the RRP, asset prices, including cryptos, are expected to grow. Hayes is optimistic about Bitcoin's future, speculating that it could reach $100,000 in the near future and $1,000,000 in the long run. Another prediction by the BitMex cofounder touches on the topic of altcoins; according to Hayes, we will see the full-fledged altcoin season only when Bitcoin andEthereumbreak through the $70,000 and $4,000 levels.
#LowestCPI2021 #BinanceLaunchpoolTON #MarketDownturn #BlackRockETHOptions $BTC

World’s largest crypto exchange Binance is back with a bang in India, as its website and app go live following nearly seven months of ban for not registering with the Financial Intelligence Unit in India (FIU-IND).
The exchange announced the same on August 15, adding that this marks its 19th global regulatory milestone and its commitment to compliance with anti-money laundering (AML) standards in India as well as any other jurisdiction it operates in.
Richard Teng, CEO of Binance, said, “Our registration with the FIU-IND marks an important milestone in Binance’s journey. Recognizing the vitality and potential of the Indian VDA market, this alignment with Indian regulations allows us to tailor our services to the needs of Indian users. It is a privilege to extend the reach of our cutting-edge platform to this thriving market, supporting India’s continued VDA evolution.”
Binance in its statement highlighted that “India leads the world in grassroots crypto adoption, according to Chainalysis’ 2023 Global Crypto Adoption Index.”
#BinanceLaunchpoolTON #BinanceInIndia #btc #BTC
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Global crypto exchange Binance on Thursday registered itself as a reporting entity with the Financial Intelligence Unit India (FIU-IND) over six months after receiving a show-cause notice from the finance ministry for non-compliance with the country's anti-money laundering law.
Binance, one of the largest cryptocurrency exchanges in the world, is set to resume operations in India with the registration.
Recognising the vitality and potential of the Indian VDA (virtual digital assets) market, this alignment with Indian regulations allows us to tailor our services to the needs of Indian users. It is a privilege to extend the reach of our cutting-edge platform to this thriving market, supporting India’s continued VDA evolution,” said Richard Teng, chief executive officer (CEO), Binance, on the company’s blog.
The company stated it is aligning itself with registration requirements in India.
“(Binance) is bringing its world-class compliance programme, which encompasses robust anti-money laundering (AML) policies and controls and a comprehensive framework for combating the financing of terrorism (CFT),” the firm added.
The FIU had imposed a fine of Rs 18.82 crore on Binance for operating in the country in violation of domestic anti-money laundering regulations in June.
It had requested the Ministry of Electronics and Information Technology (Meity) to block their websites in the country.
Binance’s registration with the FIU comes as another homegrown crypto exchange, WazirX, suffered a security breach leading to a theft of over $230 million.
Experts have cautioned users to read the terms of use before investing in unregulated sectors such as crypto, Business Standard reported Thursday.
#BinanceTurns7 #BinanceInIndia #india_crypto #btc #BinanceLaunchpoolTON
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$BNB

Binance seeks to dismiss the bulk of a £10 billion lawsuit in London over BSV delisting claims and alleged anti-competitive behavior.
Binance seeks to dismiss a significant portion of a £10 billion lawsuit in London over BSV delisting claims.
The lawsuit involves accusations of anti-competitive behavior by Binance, Kraken, and other exchanges.
BSV Claims argues that the 2019 delisting caused BSV's value to drop and hindered its growth.
Crypto exchange Binance has sought to dismiss most of a London lawsuit valued at up to £10 billion ($12.8 billion). The lawsuit claims Binance and other exchanges colluded to “delist” the Bitcoin Satoshi Vision (BSV) cryptocurrency. This case is being heard at London’s Competition Appeal Tribunal (CAT) and involves over 200,000 BSV owners.
Binance Seeks Dismissal of £10 Billion Lawsuit
The lawsuit, brought by BSV Claims, alleges that Binance, Kraken, and other exchanges engaged in anti-competitive behavior by delisting BSV in 2019. Lawyers for BSV Claims argue that this delisting caused BSV’s value to drop significantly. They also claim it prevented
BSV from becoming a “top-tier” cryptocurrency, valuing this aspect of the claim at up to £9 billion.
The exchanges do not oppose the case’s certification under the UK’s collective proceedings regime, similar to the U.S. class action system. Certification would be the first step in the lawsuit. Binance, however, has requested the CAT to dismiss the part of the case concerning BSV’s alleged potential to become a significant cryptocurrency. This part of the case is for those who retained BSV after delisting it.
Kraken Calls BSV Lawsuit Baseless
Binance’s lawyer, Brian Kennelly, argued that those who kept BSV made “an entirely voluntary decision.” He said they “could reasonably have sold it and reinvested it in comparable cryptocurrency.” Kennelly further contended that this part of the lawsuit should not proceed.
BSV Claims’ lawyers, however, maintain that the issue should be tried in the same way as the rest of the case. They argue that the delisting was an anti-competitive behavior that affected the cryptocurrency’s market position and value.
A spokesperson for Binance declined to comment on the ongoing litigation. Meanwhile, a representative for Kraken described the lawsuit as “baseless.” The exchanges, including Binance and Kraken, removed BSV from their platforms in 2019. This decision was partly due to claims made by Australian computer scientist
#Binance55thProject(IO) #StartInvestingInCrypto #FIT21 #altcoins #BlackRock
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