A number of borrowers were seen short selling TUSD on lending protocols after the stablecoin traded above its U.S. dollar peg across exchanges.
Daily Bits…✍️✍️✍️
Alex Mashinsky, former CEO of Celsius Network, filed a defense motion to dismiss a New York State complaint accusing him of securities fraud, arguing that the crypto products offered by Celsius were neither securities nor commodities, and that the attorney general has misrepresented his statements.
A lawsuit alleges that Coinbase executives gained $1.09 billion by not disclosing negative company information before its April 2021 listing, with insiders selling shares before the news emerged.
The Biden administration advocated for a 30% tax on crypto mining firms' energy costs to address environmental pollution, higher energy prices, and climate impact.
Binance and Circle provided feedback on the UK's proposed crypto regulatory framework, with Binance emphasizing the need for balance to avoid stifling innovation and driving consumers to unregulated markets.
Dubai's Virtual Assets Regulatory Authority reprimanded OPNX, founded by Kyle Davies and Su Zhu, for operating without necessary licenses and soliciting personal data from the public.
Coinbase introduced a new platform called Coinbase International Exchange, allowing international users to trade perpetual futures out of Bermuda with 5x leverage.
Curve Finance deployed its crvUSD stablecoin on the Sepolia testnet for verification on Etherscan, signaling progress toward an Ethereum mainnet release.
BRC-20 standard Bitcoin-based token transactions surpassed regular bitcoin transactions for two days, fueled by memecoin growth and resulting in over 100 bitcoin ($2.8 million) paid in fees.
BitFlyer USA was fined $1.2 million by the New York State Department of Financial Services for not meeting the state's cybersecurity requirements, with plans to become compliant by year-end.
Advisers and consulting firms assisting FTX during its bankruptcy proceedings billed the crypto exchange a total of $103 million in Q1
The FBI and Ukrainian authorities seized nine digital currency exchange domains, including 24xbtc.com and 100btcpro.com, for allegedly enabling cybercriminals to launder money through anonymous services and weak anti-money laundering measures.
Today in Crypto Adoption...
Revolut has expanded into Brazil, marking its entry into Latin America and tapping into the country's growing demand for crypto assets, with around 10 million crypto users in Brazil.
Sports Illustrated's SI Tickets is launching an NFT ticketing platform called "Box Office" on the Polygon network, developed in partnership with Ethereum software company ConsenSys, offering a complete NFT ticket service.
The $$$ Corner…
Crypto startup Tristero raised $4.8 million to create a trustless dark pool, enabling large trades without significant market impact, benefiting long-term buyers and sellers.
Bhutan's government investment arm DHI and Jihan Wu's Bitdeer Technologies plan to establish a $500 million crypto mining fund for operations in the country.
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