This week was tough for the global crypto market, with Bitcoin dropping by over 4.48%. It plummeted from over $70,000 to around $65,000 before stabilizing at approximately $66,000 by press time. This decline had a ripple effect across the crypto industry, causing losses for most major altcoins. However, Toncoin (TON) defied the trend, experiencing a significant 10% increase over the week.
On a more positive note, former United States President Donald Trump vowed to end President Joe Biden’s "war on crypto" if he is elected this year, making this announcement during a speech on his birthday. 
To ensure you’re up-to-date with the latest in the crypto world, we’ve compiled the top cryptocurrency stories of the past week. In this recap, we delve into six key developments you might have missed, covering both the highs and lows in the ever-evolving crypto market.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (June 9-15, 2024)
●      SEC Chair Signals Spot Ether ETF Approval by Summer 2024
●      Terraform Labs Settles SEC Lawsuit for $4.47B
●      Trump Pledges to End Biden’s "War on Crypto"
●      Nigerian Officials Drop Some Charges Against Binance Executive
●      MicroStrategy Upsizes Debt Offering to Buy More Bitcoin
●      Tether Plans $1B Investment in AI and Biotech
SEC Chair Signals Spot Ether ETF Approval by Summer 2024
SEC Chair Gary Gensler indicated that approvals for spot Ether ETFs could be finalized by the summer of 2024. During a June 13 Senate Banking Committee hearing, Gensler stated the SEC might approve S-1 registration statements for these ETFs within three months. Although analysts had anticipated Ether ETFs to trade by June, the SEC has not confirmed an exact date. Earlier, the SEC approved 19b-4 filings from eight companies, but S-1 approvals are needed for trading to commence.
Terraform Labs Settles SEC Lawsuit for $4.47B
Terraform Labs will pay $4.47 billion to settle a civil lawsuit with the SEC following its 2022 collapse. The settlement includes $3.6 billion in disgorgement, $420 million in civil penalties, and $467 million in prejudgment interest. Former CEO Do Kwon is liable for $204 million, covering various penalties. The case stemmed from the Terra ecosystem's collapse, which led to $40 billion in investor losses. Kwon's extradition remains uncertain as courts in Montenegro continue deliberations.
Trump Pledges to End Biden’s "War on Crypto"
Former U.S. President Donald Trump vowed to end President Joe Biden's "war on crypto" if re-elected during a speech in West Palm Beach on his 78th birthday. Trump emphasized making the U.S., particularly Florida, a hub for Bitcoin and crypto activities. He criticized Biden's stance on crypto, asserting that the U.S. would dominate the crypto industry under his leadership. This is because Florida is recognized for its favourable crypto tax policies, bolstering Trump’s promise to enhance its crypto presence.
Nigerian Officials Drop Some Charges Against Binance Executive
Nigerian authorities have dropped tax charges against detained Binance executive Tigran Gambaryan and his colleague Nadeem Anjarwalla. However, they still face money laundering charges from Nigeria's Economic and Financial Crimes Commission, with the case resuming on June 20. Gambaryan's health remains a concern after collapsing in court due to malaria and reportedly suffering from pneumonia. His family criticized the charges as "bogus" and called for his release, highlighting delays in medical care by prison authorities.
MicroStrategy Upsizes Debt Offering to Buy More Bitcoin
MicroStrategy announced a $700-million debt offering due in 2032, up from the initial $500 million, to purchase more Bitcoin. The notes, sold privately to institutional buyers under Rule 144A, will bear 2.25% interest and mature on June 15, 2032. The firm plans to use the estimated $687.8 million net proceeds to acquire additional Bitcoin, adding to its current 214,400 BTC valued at $14 billion. This move underscores MicroStrategy’s aggressive strategy to enhance its Bitcoin holdings.
Tether Plans $1B Investment in AI and Biotech
According to CEO Paolo Ardoino, stablecoin giant Tether plans to invest $1 billion in emerging markets, AI, and biotech within the next year. This move follows Tether’s $2 billion investment in similar technologies over the past two years. Tether's venture capital arm evaluates hundreds of pitches monthly and offers AI computing to invested firms. Ardoino emphasized Tether's focus on tech that reduces reliance on traditional finance and Big Tech, highlighting a distinct investment strategy.
 •••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#melega #MelegaSwap #melegamarco #bnbsmartchain #ETHETFS
 
 
 

In a week marked by both progress and volatility, several leading digital assets experienced significant fluctuations. Among them, BNB, the native token of the BNB Chain, set a new all-time high of $720 on June 6 but has since dipped to around $680. 
Notably, this surge in BNB's value coincided with the news that Binance founder and former CEO Changpeng "CZ" Zhao had been transferred to a federal prison in California to serve a four-month sentence related to money laundering charges.
In a contrasting development, Keith Gill, known as Roaring Kitty and the trader behind the GameStop (GME) meme stock frenzy, grabbed the spotlight with his first YouTube livestream in three years. His return is believed to have contributed to the rally surrounding meme coins, with some experiencing triple-digit gains.
Now, we have compiled the top cryptocurrency stories of the past week to help you stay up-to-date with the latest happenings in the ever-evolving crypto market. In this recap, we explore six intriguing developments you might have missed.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (June 1-8, 2024)
●      Telegram Unveils In-App Currency "Stars" for Mini-App Purchases
●      Robinhood Acquires Bitstamp to Boost US Institutional Crypto Trading
●      SEC Chair Hints at Potential Delay in Spot Ether ETF Approvals
●      New Law Grants US President Authority to Block Digital Asset Access
●      Trump Aims to Be "Crypto President" in 2024 Campaign
●      Vitalik Buterin Criticizes Celebrity Memecoins for Lacking Substance
Telegram Unveils In-App Currency "Stars" for Mini-App Purchases
Telegram launched "Stars," a new digital currency for buying things within its mini-apps. Developers can exchange Stars for Toncoin, Telegram's cryptocurrency, and receive a 70% revenue share on purchases. Telegram even subsidizes ads bought with Stars to help developers avoid app store commissions. This aims to attract businesses to build on Telegram's platform.
Robinhood Acquires Bitstamp to Boost US Institutional Crypto Trading
Robinhood is acquiring Bitstamp for $200 million to expand its cryptocurrency offerings, specifically targeting institutional clients in the US. Despite facing a Wells notice from the SEC in May, Robinhood plans to finalize the deal by mid-2025. The acquisition aims to meet customer demand for more crypto products and integrate Bitstamp’s institutional services, like lending and staking. Bitstamp will maintain its branding post-acquisition.
SEC Chair Hints at Potential Delay in Spot Ether ETF Approvals
SEC Chair Gary Gensler indicated a potential delay in approving spot Ether ETFs, suggesting that the final decision might take months. Despite approving 19b-4 filings for several major firms, the SEC has yet to finalize the listing and trading of these ETFs. Gensler's comments reflect ongoing caution towards cryptocurrency regulations. The SEC's stringent stance remains unchanged as it continues legal actions against major crypto firms while dealing with its own legal challenges.
New Law Grants US President Authority to Block Digital Asset Access
A new U.S. law gives the president unprecedented power to block access to digital assets, causing significant concern about its broad implications. The law allows the president to ban transactions involving foreign entities linked to terrorism, potentially forcing users onto regulated, KYC-compliant blockchains. Critics argue this could centralize control over digital assets, undermining user freedom. The legislation's sweeping scope has been described as a strategic move to enhance governmental oversight of digital financial transactions.
 
Trump Aims to Be "Crypto President" in 2024 Campaign
At a San Francisco fundraiser, former U.S. President Donald Trump declared his goal to become the “crypto president,” raising $12 million for his 2024 campaign. Trump emphasized his support for the cryptocurrency industry, which contrasted with the Democratic Party's regulatory stance. This announcement follows recent criticisms of President Joe Biden’s crypto policies. Trump reiterated the importance of the U.S. leading in the crypto sector, expressing optimism and support for crypto companies.
Vitalik Buterin Criticizes Celebrity Memecoins for Lacking Substance
Vitalik Buterin, the Ethereum co-founder, expressed dissatisfaction with the recent surge of celebrity meme coins, urging projects to have meaningful societal value. He praised initiatives like Ashton Kutcher and Mila Kunis' Stoner Cats for funding actual content, contrasting them with the 2024 meme coin trend. Buterin advocates for projects with long-term impact and public benefits beyond enriching celebrities. His comments followed the release of Iggy Azalea’s MOTHER token amidst wider celebrity token launches and controversies.
NEWS FROM MELEGASWAP
JIMBO (JIMBO) Farm & Pool Listed on MelegaSwap
The story starts from where Jimbo was born. The world needs heroes, and Jimbo is about to become one in the world of cryptos. Jimbo started as small as possible to build a story about how to become 10000X—a story that everyone dreams of, a story that will be told.
Wrapped KFX (wKFX) Farm & Pool Listed on MelegaSwap
KnoxFS, founded in 2018, is developing digital products focusing on decentralized file storage, data security, and privacy using IPFS and Storj. Users can pay and earn wrapped KFX tokens on all products. Other products are in the pipeline, and third-party software owners can join the ecosystem. It has a genuine project, real products, and revenue with a smart contract audited by Solidproof.
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #melega #melegamarco #ETHETFS #CelebrityMemeCoins

The cryptocurrency market has been buzzing with activity lately. On-chain data shows a sharp increase in Bitcoin accumulation, similar to the accumulation phase in 2020 that led to Bitcoin's surge to $64,000 by April 2021. This hints that we might be on the brink of another bull run. 
In a surprising development, what initially seemed like bad news for the cryptocurrency market led to massive rallies in related memecoins. This was triggered by the final verdict in former US President Donald Trump's case, where he was found guilty of all 34 counts of falsifying records to cover up a sex scandal.
As always, we've gathered the top cryptocurrency stories from the past week. In this recap, we'll explore six intriguing developments you might have missed.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (May 26–June 1, 2024)
●      Binance Founder CZ Starts 4-Month Prison Sentence for Money Laundering
●      Biden Vetoes Repeal of Crypto Accounting Rule
●      Judge Dismisses DEBT Box Case, Orders SEC to Pay $1.8M in Fees
●      Hong Kong Bans Unlicensed Crypto Exchanges
●      Terraform, Do Kwon Near Fraud Settlement with SEC
●      Gemini Reimburses $2.18 Billion to Earn Users
Binance Founder CZ Starts 4-Month Prison Sentence for Money Laundering.
Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has reported to a low-security federal prison in Lompoc, California. His legal team at Latham and Watkins confirmed that Zhao is serving a four-month sentence for money laundering charges. 
The crypto community praised Zhao's move, viewing it as a protective measure for the Binance exchange. Following his release, Zhao plans to continue his involvement in cryptocurrency, focusing on passive investing. Despite facing an initial three-year recommendation, Zhao was sentenced to four months and fined $50 million.
Biden Vetoes Repeal of Crypto Accounting Rule
U.S. President Joe Biden vetoed a resolution to overturn the SEC's Staff Accounting Bulletin No. 121 regulating cryptocurrency holdings. Biden cited the need to protect consumers and investors and stated that reversing the guidelines would undermine the SEC's authority. 
The decision faced sharp criticism from the crypto industry and lawmakers, who argued it stifles innovation. Despite bipartisan support in Congress for the repeal, Biden emphasized his commitment to maintaining financial security and regulatory oversight.
Judge Dismisses DEBT Box Case, Orders SEC to Pay $1.8M in Fees
A federal judge has dismissed the SEC's case against Digital Licensing, doing business as DEBT Box, and ordered the commission to pay $1.8 million in attorney and receivership fees. 
The May 28 ruling by Judge Robert Shelby in the U.S. District Court for the District of Utah follows a March finding of SEC misconduct related to a temporary asset freeze. DEBT Box claimed the SEC's information was inaccurate, leading to this significant win for the firm. The SEC cannot proceed with the case as it stands.
Hong Kong Bans Unlicensed Crypto Exchanges
Hong Kong has mandated that all cryptocurrency exchanges without an operational license from the Securities and Futures Commission (SFC) must cease operations immediately. This regulatory crackdown aims to enhance investor security and transparency in virtual asset trading.
Exchanges had until February 29 to apply for a license, with a three-month window to comply. Major exchanges like OKX and Huobi HK exited the market in May. As of May 31, only HashKey and OSL Exchange have received approval, with more decisions expected by June 1.
Terraform, Do Kwon Near Fraud Settlement with SEC
Terraform Labs and former CEO Do Kwon are close to settling fraud charges with the SEC. Both parties are expected to submit the final settlement terms for court approval by June 12, 2024. The SEC accused Terraform and Kwon of misleading investors about the stability and investment potential of TerraUSD (UST) and other tokens. 
The settlement follows a civil case in which they were found liable for defrauding investors. This proposed settlement addresses significant financial penalties and Kwon’s future roles in securities-issuing entities.
Gemini Reimburses $2.18 Billion to Earn Users
Gemini has reimbursed users of its defunct Earn program with $2.18 billion in digital assets, covering 97% of the owed amounts. This payout followed a settlement with Genesis Global, a former partner in the program. 
Genesis had filed for bankruptcy after halting withdrawals amid a liquidity crisis. Gemini's settlement ensures users receive 100% of their assets, including any appreciation. New York Attorney General Letitia James secured a $2-billion settlement with Genesis to address fraud claims, mandating the return of investor funds and cessation of its New York operations. 
NEWS FROM MELEGASWAP
MARCO Token: Presale Concluded and Launched on Uniswap
The $MARCO token, the native cryptocurrency of the Melega Finance ecosystem, has successfully concluded its presale on GemPad and is now available for trading on Uniswap through the Base Chain. 
Melegaswap, the leading AMM DEX on the Binance Smart Chain (BSC), will expand to multiple blockchain networks in the coming weeks. We continue to provide a user-friendly trading experience and robust project support.
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #melega #melegamarco #dex #gemini

This week was a mixed bag for the crypto world. On the bright side, the price of Ethereum-based memecoin Pepe reached new heights, and Ethereum itself saw a significant jump following the long-awaited approval of spot Ether ETFs in the US.
However, the crypto community mourned the loss of Kabosu, the Shiba Inu dog who became an internet sensation as the face of the "Doge" meme and inspired the Dogecoin memecoin. Kabosu passed away peacefully at an estimated age of 18.
Despite the somber news, the overall crypto market experienced a positive swing, with Bitcoin surpassing $71,000. We'll dive deeper into six intriguing developments you might have missed this week.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (May 19–May 25, 2024)
●      SEC Approves Spot Ether ETFs, Paving Way for Broader Crypto Adoption
●      Vitalik Buterin Proposes Solutions for Ethereum’s MEV Problem
●      Trump Campaign to Accept Cryptocurrency Donations
●      US House Passes FIT21 Crypto Bill with Bipartisan Support
●      Uniswap Vows to Fight SEC Wells Notice, Supports Pro-Crypto Legislation
●      Gala Games CEO Cites Internal Control Failures for $23M Token Exploit
SEC Approves Spot Ether ETFs, Paving Way for Broader Crypto Adoption
The U.S. Securities and Exchange Commission (SEC) has approved multiple spot Ether ETFs, marking a significant milestone in cryptocurrency regulation. Unlike spot Bitcoin ETFs, which required a vote from the SEC's five-member committee, spot Ether ETFs were approved by the Trading and Markets Division.
Major firms, including VanEck, BlackRock, and Fidelity, received the green light for their ETF proposals. Despite this approval, these ETFs must still have their S-1 registration statements signed off by the SEC before trading can commence. This decision follows recent legislative moves aimed at clarifying crypto regulations.
Vitalik Buterin Proposes Solutions for Ethereum’s MEV Problem
On May 17, Ethereum co-founder Vitalik Buterin proposed several solutions to tackle ‌miner-extracted value (MEV), where block producers manipulate transaction orders for profit, causing network congestion and high gas fees.
Buterin suggested a combination of MEV quarantining, MEV minimization, inclusion lists, and lowering node requirements. MEV minimization aims to limit information accessible to MEV developers, while quarantining separates transaction validation from block content selection. Inclusion lists ensure all transactions are included in blocks. These measures aim to preserve Ethereum's decentralization and trust.
Trump Campaign to Accept Cryptocurrency Donations
Former President Donald Trump announced that his 2024 presidential campaign will accept cryptocurrency donations. His campaign launched a fundraising page on May 21, allowing contributions through Coinbase Commerce in various cryptocurrencies, including Bitcoin, Ether, and Dogecoin.
This move comes as Trump remains the presumptive Republican nominee and prepares for potential debates with President Joe Biden, the likely Democratic nominee. Despite this crypto-friendly fundraising approach, Trump’s campaign platform does not explicitly address digital assets or blockchain technology.
US House Passes FIT21 Crypto Bill with Bipartisan Support
The U.S. House of Representatives approved the Financial Innovation and Technology for the 21st Century (FIT21) Act to provide regulatory clarity over digital assets. The bill passed with a 279 to 136 vote and received support from 71 Democrats and 208 Republicans. If enacted, it would define the roles of the SEC and CFTC in regulating digital assets.
While proponents argue it promotes innovation, opponents, including Representative Maxine Waters, warn it could lead to deregulation and potential financial instability. The Senate will now consider the bill.
Uniswap Vows to Fight SEC Wells Notice, Supports Pro-Crypto Legislation
Uniswap Labs, the developer behind the Uniswap decentralized exchange, has vowed to contest a Wells notice issued by the SEC, which suggests potential enforcement action. Uniswap criticized the SEC's legal stance as "weak" and expressed readiness to defend itself in court.
The firm highlighted its legal team's success in previous cases against the SEC. Uniswap also backed the Financial Innovation and Technology for the 21st Century Act, a bill that could shift crypto regulation from the SEC to the CFTC, potentially nullifying the SEC's case.
Gala Games CEO Cites Internal Control Failures for $23M Token Exploit.
Gala Games CEO Eric Schiermeyer confirmed a security breach that led to the unauthorized sale of 600 million GALA tokens worth $23 million. Schiermeyer blamed "messed up" internal controls for the incident. The breach also involved the effective burn of 4.4 billion tokens. Despite the compromise, Gala's Ethereum contract remained secure.
The company collaborates with the FBI and other authorities to investigate the incident. The security breach caused a significant drop in GALA's value, which has since partially recovered. However, the attacker returned $22 million in Ether after a few days of the incident.
NEWS FROM MELEGASWAP
Melega (Marco) Burn Event Completed
We are excited to announce that we have successfully completed the BURN EVENT for 10 million $MARCO tokens on the BNB Chain, which is approximately worth $500,000. This event is part of an important development underway on the MelegaSwap Platform, expanding to multiple chains. The $MARCO token will be launched in the next few days on the BASE chain. Here’s the transaction hash.
MARCO Presale Started on Base Chain
We are excited to announce the PRESALE of $MARCO on BASE CHAIN, which started on May 23, 2024, on GemPad. MELEGA (MARCO) is the flagship utility token of MelegaSwap, the rapidly growing black AMM DEX on the BNB Smart Chain that is now expanding on the BASE Chain. The soft cap was smashed and doubled in seconds.
PLUNZ (PLZ) Farm & Pool Listed on MelegaSwap
Introducing PLUNZ, the meme token with a twist! Fronted by a quirky blue sewer rat with braces, PLUNZ offers a unique staking model rewarding holders with USDT. Perfectly balanced tokenomics and a total community-driven approach ensure engaging and lucrative participation.
BOOTYCOIN (BUTT) Farm & Pool Listed on MelegaSwap
BOOTYCOIN is a simple, hyper-deflationary, and low-tax reflection token.  The contract is renounced with a locked LP until the year 2100.
BabyFox (BABYFOX) Farm & Pool Listed on MelegaSwap
BABYFOX is a memecoin dedicated to its community; our objective is to put the community at the heart of the project at the center of power and decisions, all this in total transparency with these investors. Utility NFTs, which will give the right to make decisions + an annual return, will be released at the beginning of June, a multichain swap (fox swap) auto burn at the end of June, and later in the coming months, we will work on a play to earn, a staking platform and a metaverse. our goal beyond crypto is to take the BABYFOX brand beyond the world of cryptocurrency
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #ETHETFsApproved #melegamarco #melega #TrumpCryptoSupport