⚡️ News Flash - 3 Jun 2024 !

1️⃣ Dubai Reduces Fees for Recognizing Crypto Tokens to $5,000

The DFSA has revised its crypto token regulations to allow domestic qualified investor funds to invest up to 10% in unrecognized tokens and reduced the token recognition fee from $10,000 to $5,000.

2️⃣ Bitcoin Investor Michael Saylor Reaches $40 Million Settlement in Tax Fraud Case

Michael Saylor, founder of MicroStrategy, agreed to pay $40 million to settle a tax fraud lawsuit with the D.C. Attorney General. The lawsuit claimed Saylor pretended to be a resident of Florida or Virginia to avoid D.C. taxes. Saylor will pay the amount in full, with no contribution from MicroStrategy.

3️⃣ Former Binance CEO CZ Commences 4-Month Jail Term in California

Changpeng Zhao, the founder of Binance, has begun a four-month prison sentence in California for failing to prevent money laundering at the exchange. He will serve his time at Lompoc II, a low-security facility in Santa Barbara county.

4️⃣ Binance Co-founder Disputes Accountability for $1M Trading Loss on Compromised Account

Yi He, Binance co-founder, denied a security breach caused a $1 million loss for a user, attributing it to the user's compromised computer. On the same day, a trader claimed their account was manipulated without their password, resulting in losses, and said they didn't receive security reminders from Binance.

5️⃣ Frax Finance X Account Hacked, CEO Suspects Inside Job

Frax Finance's X social media account was hacked without password changes. CEO Sam Kazemian asked followers for help to contact X customer service. It takes about 72 hours for X to address such issues, requiring a support request with a linked email address and providing more information as needed.

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