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WBTCUnderScrutiny
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BitGo CEO Mike Belshe addresses rising security concerns after Justin Sun's involvement in the WBTC operations. Despite worries about Sun’s past, Belshe assures that WBTC's security remains intact, with no changes to key protocols. Sun clarifies his role is strategic, with no control over WBTC funds. As MakerDAO prepares for a critical vote on WBTC holdings, how will this impact the future of WBTC? Share your insights! 🚨🔐
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BitGo CEO Addresses Concerns Over WBTC Security Amid Justin Sun's InvolvementAccording to Cointelegraph: BitGo CEO Mike Belshe has dismissed concerns surrounding the security of Wrapped Bitcoin (WBTC) following the recent involvement of Justin Sun in BitGo’s WBTC business. These concerns arose after BitGo announced on August 9 a new venture to diversify its custodial locations for the Bitcoin underlying WBTC, moving from the United States to jurisdictions including Singapore and Hong Kong.The new arrangement involves a joint venture with Hong Kong-based BiT Global and a strategic partnership between BitGo, the Tron ecosystem, and Tron CEO Justin Sun. This development has prompted some worry in the crypto community, particularly regarding Sun's involvement.Concerns Raised by Risk Management FirmRisk management firm Block Analitica Labs (BA Labs) expressed concern over Sun’s involvement, citing past operational and transparency issues with other crypto projects associated with him. On August 11, BA Labs posted a proposal on the MakerDAO forum, suggesting the closure of all new WBTC debts and the prevention of new borrowing against WBTC collateral in an upcoming executive vote.BitGo CEO Responds to Security ConcernsMike Belshe, however, has downplayed these concerns, characterizing the reaction as more about the "Justin Sun name" than any substantial security risk. In response to BA Labs' proposal on the MakerDAO forum, Belshe reassured that WBTC security protocols remain unchanged and that the underlying security of WBTC is not compromised.“BitGo is still co-signing all transactions using the same technology it always had; BitGo simply will not sign a transaction that does not have the corresponding mint BTC deposit or burn token ownership,” Belshe stated. He emphasized that the only change is in how the keys are separated across different parties, enhancing security.Justin Sun's Position on WBTC SecurityJustin Sun also addressed the controversy on August 11, stating on the social media platform X (formerly Twitter) that his involvement in WBTC is purely strategic and that he has no direct access to the funds. He clarified that the security measures, including the use of BitGo’s cold wallet technology and offline keys, remain intact, with backups stored in multiple countries and regions.“My personal involvement in WBTC is entirely strategic. I do not control the private keys to the WBTC reserves and cannot move any BTC reserves,” Sun affirmed.Upcoming Vote on WBTC HoldingsBA Labs has proposed an executive vote on August 12 for the MakerDAO community to decide whether to proceed with changes to its WBTC holdings in light of these concerns. The outcome of this vote will determine the future handling of WBTC within the DAO.As the crypto community closely watches these developments, both BitGo and Justin Sun continue to assure users that WBTC's security and operational protocols remain robust and unchanged.

BitGo CEO Addresses Concerns Over WBTC Security Amid Justin Sun's Involvement

According to Cointelegraph: BitGo CEO Mike Belshe has dismissed concerns surrounding the security of Wrapped Bitcoin (WBTC) following the recent involvement of Justin Sun in BitGo’s WBTC business. These concerns arose after BitGo announced on August 9 a new venture to diversify its custodial locations for the Bitcoin underlying WBTC, moving from the United States to jurisdictions including Singapore and Hong Kong.The new arrangement involves a joint venture with Hong Kong-based BiT Global and a strategic partnership between BitGo, the Tron ecosystem, and Tron CEO Justin Sun. This development has prompted some worry in the crypto community, particularly regarding Sun's involvement.Concerns Raised by Risk Management FirmRisk management firm Block Analitica Labs (BA Labs) expressed concern over Sun’s involvement, citing past operational and transparency issues with other crypto projects associated with him. On August 11, BA Labs posted a proposal on the MakerDAO forum, suggesting the closure of all new WBTC debts and the prevention of new borrowing against WBTC collateral in an upcoming executive vote.BitGo CEO Responds to Security ConcernsMike Belshe, however, has downplayed these concerns, characterizing the reaction as more about the "Justin Sun name" than any substantial security risk. In response to BA Labs' proposal on the MakerDAO forum, Belshe reassured that WBTC security protocols remain unchanged and that the underlying security of WBTC is not compromised.“BitGo is still co-signing all transactions using the same technology it always had; BitGo simply will not sign a transaction that does not have the corresponding mint BTC deposit or burn token ownership,” Belshe stated. He emphasized that the only change is in how the keys are separated across different parties, enhancing security.Justin Sun's Position on WBTC SecurityJustin Sun also addressed the controversy on August 11, stating on the social media platform X (formerly Twitter) that his involvement in WBTC is purely strategic and that he has no direct access to the funds. He clarified that the security measures, including the use of BitGo’s cold wallet technology and offline keys, remain intact, with backups stored in multiple countries and regions.“My personal involvement in WBTC is entirely strategic. I do not control the private keys to the WBTC reserves and cannot move any BTC reserves,” Sun affirmed.Upcoming Vote on WBTC HoldingsBA Labs has proposed an executive vote on August 12 for the MakerDAO community to decide whether to proceed with changes to its WBTC holdings in light of these concerns. The outcome of this vote will determine the future handling of WBTC within the DAO.As the crypto community closely watches these developments, both BitGo and Justin Sun continue to assure users that WBTC's security and operational protocols remain robust and unchanged.
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$BTC {spot}(PEPEUSDT) **PEPE Price Dips 10%, But PEPU Emerges as a Promising Alternative** In recent trading, the price of Pepe (PEPE) has slipped 10% to $0.000007841, following a surge in trading volume to $673.4 million. Despite this daily decline, PEPE is up 17% over the past week, showing resilience after a recent dip. Currently, PEPE’s price is seeing some bullish momentum, but it's facing resistance at $0.0000080. The widening of Bollinger Bands and a sharp rise in the Relative Strength Index (RSI) indicate potential volatility and a possible price correction. Amid this uncertainty, a new contender, Pepe Unchained (PEPU), is gaining attention. Unlike PEPE, PEPU boasts its own Layer-2 blockchain built on Ethereum, promising enhanced speed, lower fees, and scalability. This innovative approach has sparked considerable interest, with its ICO raising over $8.2 million as of August 12. PEPU is available for purchase at $0.0090178, but prices are set to increase with each presale stage. Interested investors can acquire PEPU using ETH, BNB, USDT, or credit/debit cards. Given its unique blockchain and strong presale performance, PEPU might offer a more stable investment opportunity compared to PEPE. For more details, visit the [PEPU official website](#). **Explore promising new opportunities and stay ahead of market trends with PEPU.**#CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn
$BTC
**PEPE Price Dips 10%, But PEPU Emerges as a Promising Alternative**

In recent trading, the price of Pepe (PEPE) has slipped 10% to $0.000007841, following a surge in trading volume to $673.4 million. Despite this daily decline, PEPE is up 17% over the past week, showing resilience after a recent dip.

Currently, PEPE’s price is seeing some bullish momentum, but it's facing resistance at $0.0000080. The widening of Bollinger Bands and a sharp rise in the Relative Strength Index (RSI) indicate potential volatility and a possible price correction.

Amid this uncertainty, a new contender, Pepe Unchained (PEPU), is gaining attention. Unlike PEPE, PEPU boasts its own Layer-2 blockchain built on Ethereum, promising enhanced speed, lower fees, and scalability. This innovative approach has sparked considerable interest, with its ICO raising over $8.2 million as of August 12.

PEPU is available for purchase at $0.0090178, but prices are set to increase with each presale stage. Interested investors can acquire PEPU using ETH, BNB, USDT, or credit/debit cards. Given its unique blockchain and strong presale performance, PEPU might offer a more stable investment opportunity compared to PEPE.

For more details, visit the [PEPU official website](#).

**Explore promising new opportunities and stay ahead of market trends with PEPU.**#CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn
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🚨 Breaking Update in the Presidential Race! 🚨 Kamala Harris has surged to a 58% approval rating, leaving Donald Trump at 39%! This dramatic shift is causing waves in the crypto community with the Crypto4Harris conference just around the corner. Harris’s views on digital assets are under intense scrutiny as the crypto world debates her potential impact on the industry. Is she the future of finance, or is there more to the story? 🤔 Key voices in the crypto space are weighing in: - Charles Hoskinson (Cardano) raises concerns about risks to the crypto sector. - Winklevoss twins question her true intentions. Trump’s strong crypto support continues to rally his base. What’s driving Harris’s rapid rise in popularity? With U.S. crypto regulations hanging in the balance, the coming weeks will be crucial. Stay alert, Binance community—this political drama is far from over! 🔗 #WBTCUnderScrutiny #CryptoMarketMoves #BinanceTurns7 #BinanceTurns7 #Write2Earn!
🚨 Breaking Update in the Presidential Race! 🚨

Kamala Harris has surged to a 58% approval rating, leaving Donald Trump at 39%! This dramatic shift is causing waves in the crypto community with the Crypto4Harris conference just around the corner.

Harris’s views on digital assets are under intense scrutiny as the crypto world debates her potential impact on the industry. Is she the future of finance, or is there more to the story? 🤔

Key voices in the crypto space are weighing in:
- Charles Hoskinson (Cardano) raises concerns about risks to the crypto sector.
- Winklevoss twins question her true intentions.

Trump’s strong crypto support continues to rally his base. What’s driving Harris’s rapid rise in popularity?

With U.S. crypto regulations hanging in the balance, the coming weeks will be crucial. Stay alert, Binance community—this political drama is far from over!

🔗 #WBTCUnderScrutiny #CryptoMarketMoves #BinanceTurns7 #BinanceTurns7 #Write2Earn!
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Test Your BTC Intuition and Win Up To $5,000 USDC in Rewards!
Think you can predict the BTC market? Put your intuition to the test and grab your share of the $5,000 USDC reward pool! Join our daily “Bullish vs Bearish” voting campaign and connect with the crypto community by sharing your market sentiment.
Campaign Period: 2024-08-08 00:00 to 2024-08-14 23:59 (UTC)

How To Participate:
Vote on $BTC Direction and Share Insights:
Option 1: Visit the BTC trading page and vote whether the day will be bullish or bearish. Share your insights and reasoning behind your vote in an accompanying post.

Option 2: Create a post through the “+” posting button on Binance Square, adding the $BTC cointag, and vote bullish or bearish in the content editor.

Winning Criteria:
Bullish Votes Win: If the BTC price at the end of the day (daily close price) is higher than the price at the beginning of the day (open price).Bearish Votes Win: If the BTC price at the end of the day (daily close price) is lower than the price at the beginning of the day (open price).
Eligibility: 
Only the first prediction per day will be considered if a user makes more than one prediction.Voting and posts made between 21:00-24:00 UTC will not be counted as eligible entries.

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This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for the votes to count. Each day runs from 00:00 (UTC) to 23:59 (UTC). Rewards will be distributed in the form of token vouchers to eligible users within 21 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right of final interpretation of this Activity.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
😎Binance Delists Cryptocurrencies 💰 Binance has announced the complete delisting of a number of cryptocurrencies: ✔️Monero (XMR) ✔️Bitcoin Gold (BTG) ✔️Bitshares (BTS) 💡On September 2, the exchange will automatically convert the balances of these cryptocurrencies into USDC. #BinanceTurns7 #EarnFreeCrypto2024 #WBTCUnderScrutiny
😎Binance Delists Cryptocurrencies

💰 Binance has announced the complete delisting of a number of cryptocurrencies:

✔️Monero (XMR)
✔️Bitcoin Gold (BTG)
✔️Bitshares (BTS)

💡On September 2, the exchange will automatically convert the balances of these cryptocurrencies into USDC.
#BinanceTurns7 #EarnFreeCrypto2024 #WBTCUnderScrutiny
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#BTC☀ Bullish Update:

Current Market Status:

In the last update, BTC entered bearish momentum while trading at 61330 Drop To 58286 Currently BTC market have clear manipulation. Now BTC entered #BullishMomentum so Everyone open a Long position.

Expected Rise Levels:
- 59650
- 60200
- 61000
SL : 57598

$BTC is current trading 58670

TradingAdvice:
Note.🚫 Always Trade With proper risk management.. and set up proper stop losses (SL)

Follow For More Thanks

@ALWAYS REMEMBER
#BinanceTurns7 #BlackRockETHOptions #MtGoxJulyRepayments
$BTC $SOL
🌎【 Hot News 】 : 1. Wall Street Journal: US to send aircraft carriers and missile submarines to the Middle East. 2. Iranian acting Foreign Minister Baqeri Kani stresses Tehran's right to "appropriate and deterrent response" against Israel "to ensure regional stability". 3. Times of Israel: The Israel Defense Forces ordered non-operational forces in Georgia and Azerbaijan to return to Israel immediately due to concerns about an Iranian attack. 4. Lebanese media: Hezbollah will move all its activities, including its political divisions, out of Beirut. 5. Israeli Army Radio: Iran is about to make a decision to launch a direct attack on Israel from its territory.. If Iran launches an attack, the attack will be limited and will not lead to a large-scale regional war. #CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn #SahmRule #BlackRockETHOptions
🌎【 Hot News 】 :

1. Wall Street Journal: US to send aircraft carriers and missile submarines to the Middle East.

2. Iranian acting Foreign Minister Baqeri Kani stresses Tehran's right to "appropriate and deterrent response" against Israel "to ensure regional stability".

3. Times of Israel: The Israel Defense Forces ordered non-operational forces in Georgia and Azerbaijan to return to Israel immediately due to concerns about an Iranian attack.

4. Lebanese media: Hezbollah will move all its activities, including its political divisions, out of Beirut.

5. Israeli Army Radio: Iran is about to make a decision to launch a direct attack on Israel from its territory.. If Iran launches an attack, the attack will be limited and will not lead to a large-scale regional war.

#CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn #SahmRule #BlackRockETHOptions
🚀 Meme Mania is Back! 🚀 Get ready for a wild ride as $AIDOGE takes the spotlight once again, poised to trim a zero from its price! With Bitcoin showing bullish vibes and $SHIB, $MYRO, and $PEPE fueling the hype, the memecoin frenzy is on fire! 🔥 Just imagine—a 26x profit from the last rally! This is shaping up to be a legendary opportunity. Buckle up and join the excitement on Binance as we dive into #MemeWatch2024! 🌟📈 Are you in?#CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn #SahmRule #BlackRockETHOptions
🚀 Meme Mania is Back! 🚀

Get ready for a wild ride as $AIDOGE takes the spotlight once again, poised to trim a zero from its price! With Bitcoin showing bullish vibes and $SHIB, $MYRO, and $PEPE fueling the hype, the memecoin frenzy is on fire! 🔥

Just imagine—a 26x profit from the last rally! This is shaping up to be a legendary opportunity. Buckle up and join the excitement on Binance as we dive into #MemeWatch2024! 🌟📈

Are you in?#CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn #SahmRule #BlackRockETHOptions
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