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Cryptoniteuae
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#Binance.US has added George Canellos, a former co-director of the #SEC’s enforcement division, to its #legal defense team to help defend it against charges brought against it by the #regulator . Kudos to this decision

#Binance.US has added George Canellos, a former co-director of the #SEC’s enforcement division, to its #legal defense team to help defend it against charges brought against it by the #regulator .

Kudos to this decision

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#Taiwan Cracks Down on Crypto Exchange Fraud: 32 Indicted Taiwanese authorities indicted 32 individuals, including exchange founder David Pan and lawyer Wang Chen-huan, for allegedly defrauding investors of $24.5 million through a cryptocurrency token scheme. Prosecutors believe Pan and his associates promoted tokens like #MOCT and #BNAT since 2019, manipulating prices and creating fake documents to attract investors. When investors tried to withdraw funds, they were blocked. The investigation revealed over 1,200 victims and hidden funds used to purchase real estate. Pan and key figures could face 20+ years in prison, while Wang could get 12 years due to his prominent legal role. This isn't Pan's first brush with law. He's also accused of a separate $10.7 million scam involving an app used for crypto transactions. #ACE distanced itself from the accused, assuring users operations are normal and they're cooperating with authorities. #BullorBear
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Forget the Crypto Boom, Enter the "Zombie" Coins: Forbes Calls Out XRP, ADA, LTC in $2.4 Trillion Market With a massive crypto market, not every token is thriving. Forbes identifies 20 "zombie blockchains" like Ripple ($XRP ), Cardano ($ADA ), and Litecoin ($LTC ) that keep high prices despite lacking real-world use. These "undead" tokens see continuous trading but offer little to no user benefit. Many survive on speculation and past funding, not on fulfilling their purpose. For instance, Ripple's #xrp aimed to challenge SWIFT payments but mainly relies on speculative trading, not actual network usage. Analysts say XRP's market value of $36 billion is "essentially worthless" compared to its lack of utility. Similar concerns surround Litecoin, #bitcoin Cash, and others – their value hinges more on speculation than actual use. "Ethereum killers" like #Cardano (ADA) are another concern. Despite advancements, they struggle with user adoption and developer interest. #Forbes also highlights the lack of accountability in these blockchain projects. This makes it difficult to assess their health, raising questions about "zombie coins" like Ethereum Classic, which still trades despite security breaches.
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SEC Seeks $5.3 Billion Penalty Against Terra Founder Do Kwon According to reports, the U.S. Securities and Exchange Commission (#SEC上诉 ) intends to punish the discredited founder of the Terra ecosystem billions of dollars. As per a recent Bloomberg article, the regulatory body is pursuing Kwon and #Terraform Labs, who were found guilty of fraud during a trial earlier this month, opening the door for the possibility of the highest penalties in the history of the cryptocurrency business. According to the investigation, Kwon and Terraform gained about $4 billion by selling tokens as unregistered securities. Do Kwon was fined $5.3 billion for his alleged "brazen misconduct" in the 2022 collapse of the Terra ecosystem. As a result of his involvement in the $40 billion collapse of the #TerraLabs ecosystem, he is currently being sought by authorities for extradition to both the US and South Korea. #cryptoniteuae
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#BlockchainLife thunderstruck in #Dubai. 🌐160 experts from #OKXExchange , HTX, #Bybit , #Bitget , BingX, and more 🚀10,162 attendees, 133 booths 🔥The legendary AfterParty with Alan Walker’s live concert Join the presale for the next event: https://blockchain-life.com
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Day 2- #Token2049 , a successful podcast launched by the amazing #Yatsiu co-founder of #AnimocaBrands and the founder and host of the podcast series Roadcast #VaibhavvAli at the #PinkSale booth P33. congratulations .
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