Esa Congress 2018

• BNB token price has surged 8.7% and its trading volume has grown 78% over the last 24 hours.
• The surge may be due to recent U.S. banks’ saga that created a newfound interest in BNB, or due to crypto enthusiasts using the platform for transactions.
• Altcoins have also seen a moderate recovery, with XRP, SOL, and DOT increasing by 1%, 3%, and 2.7%.

BNB Token Blasts Off as Altcoins Recover

The value of the binance coin (BNB) is now rising amid a general downtrend in altcoins. BNB was trading at $329 at press time, a gain of 8.7% from its previous closing price over the last 24 hours. Additionally, the trading volume of BNB has also climbed more than 78%. This rise in price could be because of recent U.S banks’ saga creating interest in BNB or because many crypto enthusiasts prefer to carry out their financials on Binance and use its native token for transactions.

Altcoin Recovery

The altcoin market is seeing some recovery as well; XRP, SOL and DOT have all increased by 1%, 3%, and 2.7% respectively over the past 24 hours period despite market depression overall throughout cryptocurrency markets currently present today. Bitcoin itself reached an all-time high of $26,000 for 2023 before establishing its dominance at $24,000 since June 2022 – providing hope amidst current trends that investors are still interested in other cryptocurrencies besides bitcoin despite downturns that may occur from time to time within this space overall across multiple projects and tokens alike on various exchanges both large and small globally today.

Volatility & Uncertainty

It is important to remember that cryptocurrency markets can be volatile – it is not uncommon for prices to shift suddenly without prior warning or indication beforehand regarding any possible changes or movements ahead of time whatsoever – such is the nature of digital assets within our day-to-day lives presently throughout 2021/2022/2023 already established as we move into new years moving forward one year at a time until further notice globally given current circumstances surrounding digital asset investments worldwide currently taking place today across hundreds if not thousands of projects available publicly online on decentralized blockchain networks like Ethereum utilizing smart contracts among many others including EOSIO chains too around this same exact same timeframe too!

Encouraging Indications

The recent increase in BNB’s value along with other altcoin revival represent encouraging signs for cryptocurrency sector overall – it appears likely these trends will continue going forward into future months ahead as global adoption increases leading up towards end of 2021/beginning of 2022 when major institutional players begin entering these markets alongside retail traders worldwide!

Conclusion

Cryptocurrency markets remain highly unpredictable yet hopeful long-term investment prospects exist regardless; investors should always exercise caution when dealing with digital assets given lack of regulation currently surrounding industry leading up towards mid-late 2021 once fully regulated exchanges become available commercially worldwide potentially transforming entire landscape moving forward into future years beyond 2022!

• MakerDAO is considering increasing its investment in US Treasury bonds from $500 million to $1.25 billion.
• The new proposal involves a 6-month rollover scheme every two weeks and aims to take advantage of the current yield environment.
• Maker’s 24-hour chart performance shows it struggling to recover amid the announcement of its new investment strategy.

MakerDAO Increases Investment in US Treasury Bonds

MakerDAO has proposed increasing their current allocation of $500 million invested in United States Treasury bonds to a potential total of $1.25 billion. This increase would allow MakerDAO to take advantage of the current yield environment, as stated by a new active proposal made public on March 6th. The changes proposed involve implementing a six-month scheme using the U.S. Treasury ladder that includes rollovers every two weeks, which accounts for over 50% of MakerDAO’s yearly revenue.

MKR Token Performance

The announcement of this new investment strategy has affected MKR token performance, with the asset currently trading at $904.07 and within an uncertain zone as it struggles to consolidate a bullish trend. During the past 24 hours, MKR’s price came down to $860 before showing some slight support, however it is still 0.05% down from its previous 24-hour price after registering only a short recovery run amid the downward trend earlier in the day – showing a competition between bulls and bears for market control as trading volume increased by 15%.

Other Recent Changes By MakerDao

Besides this investing technique, other high profile actions have been taken by MakerDao recently including a plan allowing holders of MKR tokens to borrow DAI and MIP65 portfolio being comprised of iShares $Treasury Bond 0-1 yr UCITS ETF (market cap worth $351.4 million) and iShares 1-3 yr UCITS ETF (market value worth 1506 million).

Potential Impacts Of New Proposal

It remains unclear how exactly this new proposal will affect both MKR token holders and those who invest into U.S treasury bonds through MakerDao but investors can expect more announcements from them soon about any potential impacts or changes due to this new proposal in order for them to make more informed decisions about their investments moving forward .

Conclusion

In conclusion, MakerDao is proposing an increase in their investment into US Treasury bonds from 500 Million dollars up to 1 Billion 250 Million dollars through implementing a 6 month rolling scheme every two weeks; while MKR token holders are seeing some difficulty in recovering amid this announcement due mainly because of uncertainty caused by lack of information on potential impacts or changes that could arise due to this change; investors should keep an eye out for forthcoming announcements from them regarding these matters so they can make better decision when it comes investing with MakerDao going forward .

• Nishad Singh, ex-Co-Lead Engineer of FTX Trading Ltd., has been charged by the SEC for his role in a multi-year scheme to defraud equity investors in FTX.
• Singh developed a software code that facilitated the transfer of FTX customer funds to Alameda Research, a crypto hedge fund co-owned by Samuel Bankman-Fried and Gary Wang.
• The SEC is looking to obtain an injunction against committing future violations of securities law, as well as the return of profits obtained by illicit means, a financial penalty, and a prohibition against serving as an officer or director.

SEC Charges Former Co-Lead Engineer Of FTX For Fraud

The Securities and Exchange Commission (SEC) has charged Nishad Singh, former Co-Lead Engineer of FTX Trading Ltd., with actively participating in a multi-year scheme to deceive equity investors in FTX. According to the SEC, this fraud resulted in customer funds being diverted to Alameda Research, a crypto hedge fund owned by Sam Bankman-Fried and Gary Wang.

Overview Of The Alleged Fraud

The complaint from the SEC aims to obtain an injunction against committing future violations of securities law, as well as the return of profits obtained by illicit means, a financial penalty, and a prohibition against serving as an officer or director. Additionally, it alleges that Singh knew or should have known that false assurances given by Bankman-Fried to investors about FTX’s risk mitigation measures were misleading. It is reported that Singh withdrew around $6 million from the company for personal use and expenses before it approached collapse.

Singh Agrees To Settlement

In order to settle this case with the SEC, Singh has agreed to pay certain penalties and fees pending court approval. These payments will be divided into parts and are intended to cover all costs associated with his involvement in this fraud case.

Impact On Crypto Community

This case highlights how serious financial crimes can have major implications on investor confidence within the crypto community. In response to these charges being brought forward by the SEC against Nishad Singh, many members of this community have voiced their concern over such cases damaging trust within this industry more broadly.

Conclusion

The charges filed against former Co-Lead Engineer of FTX Trading Ltd., Nishad Singh serve as reminder that criminal activity within cryptocurrency markets will not be tolerated under securities law regulations. As such cases continue surface throughout 2021 and beyond it is vital that industry participants remain aware legal obligations when dealing with digital assets or related technologies like blockchain technology so they do not find themselves at risk similar allegations being brought forth by government regulators like the SEC.

• Illinois Sen. Robert Peters has introduced the Digital Property Protection Act, which aims to mandate blockchain projects in the state to reverse executed on-chain transactions when ordered by a court.
• The bill would impose civil penalties of between $5,000 and $10,000 per day for noncompliance with court orders to roll back disputed transactions.
• The bill has been met with criticism from crypto industry players and observers who are concerned it could weaken the immutability of blockchains and lead to more attacks against decentralized projects.

Sen. Robert Peters Introduces Digital Property Protection Bill

Illinois Democratic party Sen. Robert J. Peters has introduced a crypto regulation bill that aims to immunize the state’s cryptocurrency investors from hacks and digital asset loss by sacrificing blockchain immutability. According to the digital property protection and law enforcement act, which was quietly introduced on Feb. 9, blockchain projects in the state will now be required to implement transaction rollback measures in their networks to enable the reversal of any transaction when ordered to carry out such unethical operations by a court, even without a private key of the asset.

Penalties for Noncompliance

The bill stipulates that blockchain projects who default will be liable to pay a civil penalty between $5,000 to $10,000 for each day they fail to comply with a court order to roll back a disputed transaction.

Criticism of SB1887

As expected, Sen. Peter’s bill is currently a subject of serious debate on crypto Twitter, with several industry players and observers, including lawyer Drew Hinkes outrightly condemning it.#Illinois Senate Bill SB1887 would drive out #blockchain #node operators, #miners, and #validators, waste judicial resources, and confuse existing law in a quixotic attempt to protect Illinois consumers.—Drew Hinkes (@propelforward) February 19th 2023

Crypto Industry Losses Due To Hacks

Bad actors often capitalize on the fact that blockchain transactions are immutable by defaultto orchestrate attacks on various decentralized projects and steal millions of dollars. In 2022 alone,the crypto industry lost over $3.7 billionto hackers. Despite this introducing bills tomake blockchain databases ‘manually editable’may do more harm than good in the long runin terms of protecting cryptocurrency investorsfrom theft or frauds

Conclusion

While Peters’ intentions might have been noblein wantingto protect innocent investors from digital asset losses due towrongful activitiesby bad actorsa closer examinationof his proposed legislation revealsits impracticalityand potential consequenceson existing blockchainsystems .

• The US Securities and Exchange Commission (SEC) plans to propose new regulations this week that could affect the services crypto firms offer their clients.
• A five-member SEC panel will vote on the proposal on Feb. 15, 2021.
• If approved, the proposed rule would make it difficult for crypto firms to operate as “qualified custodians” for hedge funds, private equity firms, and pension funds.

U.S SEC To Vote On Crypto Rule

The United States Securities and Exchange Commission (SEC) is preparing a draft proposal that could potentially make it more difficult for crypto firms to act as qualified custodians for their clients’ digital assets. A five-member SEC panel will vote on the proposal February 15th, 2021 if a majority of three out of five members approve then it will proceed to be voted by the rest of the SEC members with possible amendments based on public feedbacks if approved.

How Could This Impact Crypto Firms?

If implemented, this new rule could have significant implications for cryptocurrency businesses offering custody services such as hedge funds, private equity companies and pension funds who are required to use qualified custodians when handling client assets. Thus, entities working with these companies may need to move their holdings elsewhere once the rule is enforced.

Background Information

In 2020, an SEC staff member had mentioned that the agency was looking into who can be viewed as a qualified custodian for cryptocurrency assets and requested public input in order to address those concerns. This recent proposal lines up with other steps taken by regulators in order to minimize potential risks from digital currencies in regards to its impact on the broader financial system following some major crypto firm failures seen in 2022 such as FTX exchange and Voyager Digital brokerages.

What Is Next?

After approval from the voting panel, this new rule will be put out for public participation where people can give their opinion before being fully adopted by voting once again into effect after taking into account all feedbacks given by members of society at large..

Conclusion

This proposed regulation has potential implications both positive and negative depending on how it is interpreted which makes it important to stay informed about developments concerning cryptocurrencies so one can prepare ahead whether or not this regulation gets passed or not

• Binance has stopped its wallet services for the Indian cryptocurrency platform WazirX following a public argument over ownership.
• Binance gave Zanmai Labs an ultimatum to withdraw their false statements or end the partnership, and since no satisfactory reply was received, they have discontinued their association.
• The proof of reserves report showed that 90% of WazirX’s user assets were stored in Binance wallets, however Binance has emphasized that they do not own WazirX and only provide wallet and tech services to it.

Binance Ends Wallet Support for WazirX

Binance, the biggest crypto exchange globally, has discontinued its wallet services for WazirX, an Indian cryptocurrency platform. This decision was made due to false claims made by Zanmai Labs which manages WazirX regarding who holds authority over the exchange. Binance set a deadline of February 3rd 2023 at 11:59 UTC for Zanmai Labs to retrieve the funds utilized for WazirX’s operations before ending the association.

Public Argument Over Ownership

The dispute between Binance and Zanmai Labs began after Indian authorities started looking into alleged violations of foreign exchange regulations by WazirX. A public argument then sparked between WazirX’s co-founder Nischal Shetty and Binance CEO Changpeng Zhao on Twitter regarding who held authority over the exchange.

Proof of Reserves Report

A proof of reserves report recently revealed by CoinGabbar – a third-party website – showed that 90% of user assets were stored in Binance wallets with a total value of $285 million USDT tied to U.S dollar value. This was represented as 92% ($259 million) belonging to Binance while other exchanges held only $26 million worth of user assets.

Ultimatum Given by Binance

Binace gave Zanmai Labs an opportunity to withdraw their untrue statements or end the partnership however when they didn’t receive a satisfactory reply they ended the association setting a deadline for them to retrieve all funds used in operation before doing so.

Binance Denies Ownership Claims

Despite announcements back in 2019 pointing otherwise, binance has emphasized that they do not own Wazirx but simply provide wallet and tech services to it instead.

• Polygon MATIC surged 16% in the past week, reaching a 48% surge since late December last year.
• The token has a $1.19 billion trading volume with a $9.4 billion market cap.
• Recent partnerships and launches such as the most recent AMA with Ovix Protocol have helped foster an increase in daily active users.

The crypto space has been abuzz with news of Polygon MATIC’s recent surge. The token has seen a 16% surge in the past week, with a 48% surge since late December last year. MATIC is now valued at $1.09, making it the second-largest asset per daily active users, recording over 344,000 users, beating out both Ethereum (ETH) and Solana (SOL).

The token has seen a significant increase in trading volume, reaching $1.19 billion with a $9.4 billion market cap. This surge in activity has been largely attributed to recent partnerships and launches that have helped foster an increase in daily active users. This includes the most recent AMA with Ovix Protocol, which explored 2023’s largest DeFi natives, LSD, and zero-knowledge EVM (zk-EVM). The AMA was conducted through a Twitter thread, and it was followed by the launch of GainsNetwork_io and Giddy DeFi’s newly created $GNS staking pool.

Moreover, a Polygon crypto whale sold MATIC tokens worth $7.7 billion on 8 January, leaving tokens worth $23.7 million in the address. This could be attributed to the whale’s confidence in the token’s long-term value, as the token continues to surge and attract more users.

In conclusion, Polygon MATIC has seen tremendous growth in the past few weeks, due to increasing user activity and recent partnerships and launches. The token has a $1.19 billion trading volume with a $9.4 billion market cap, and it is currently the second-largest asset per daily active users. Furthermore, the whale’s confidence in the token’s long-term value could be a sign of more positive things to come.

• Justin Sun, co-founder of Ethereum and Tron, has recently moved over $281 million worth of tokens since Jan. 16.
• The transactions include a swap on decentralized exchange 1inch Network, several interactions with DeFi protocol Aave, Binance, and Compound, and to a null address.
• The most notable transfers are three transactions sent to Circle, worth a total of nearly $113 million.

Justin Sun, co-founder of the prominent blockchain networks Ethereum and Tron, has recently moved a considerable amount of tokens, totaling over $281 million. This activity has been tracked on blockchain analytics service Arkham Intelligence, showing transactions sent from or to Sun’s known wallets since Jan. 16.

It is important to note, however, that much of these transactions could have been the same assets being moved into Sun’s wallets and then immediately out. Despite this, the on-chain activity has certainly been of note, and the most notable of these transfers were three transactions sent to Circle alone, worth a total of nearly $113 million. All of these were processed on Jan. 18 and sent USD Coin (USDC) back to its issuer, with one transfer amounting to nearly $94 million, one for $10 million, and the last for nearly $9 million.

Apart from this, there have also been several other major transactions, including $10 million of USDC moved from Compound to Sun’s wallet, $94 million coming in from Binance, and more than $5 million of TrueUSD (TUSD) being sent and then deposited on Compound. Lastly, the account also moved $2 million of Binance USD (BUSD) and $2 of TUSD to Binance.

Overall, Sun’s on-chain activity since Jan. 16 has been quite noteworthy. It is unclear, however, what exactly is motivating the transfers, and what Sun’s plans are with the tokens. Whatever the case, Sun’s movement of tokens has certainly created a stir in the crypto community.

• A member of the Ethereum Name Service (ENS) DAO has proposed to liquidate 10,000 ether (ETH) to fund running expenditures over the course of the next two years.
• The ENS DAO’s treasury currently holds 40,746 ETH and 2.46 million USDC.
• The value of the ENS token has increased from $10.73 to $13.68 since the beginning of the year.

The Ethereum Name Service (ENS) DAO, a decentralized autonomous organization, has recently proposed to liquidate 10,000 ether (ETH) in order to fund running expenditures over the course of the next two years. The ENS is a decentralized framework for registering domain names, and in 2022 it managed to record more than 2.8 million domain registrations. The ENS community is now engaged in conversation over the draft proposal that was handed in on the 18th of January.

The treasury of the DAO has a current balance of 40,746 ETH as well as 2.46 million USDC. To create a minimum of $13 million worth of USDC stablecoins, the sale of 10,000 ETH would be conducted through a Gnosis auction. Despite the fact that ENS brings in income in the form of ETH, thanks to its protocol, the DAO is in a precarious situation since it has such a high degree of exposure to a single volatile asset.

The price of ether has decreased by 68.6% from the debut of ENS in November 2021, going from $4,850 to $1,526 in that time. However, the value of the ENS token has increased from $10.73 to $13.68 since the beginning of the year. This development comes amid various assumptions surrounding ETH’s staking making rounds. Staking on Ethereum has been picking up steam over the last few months as an increasing number of users opt to stake their ETH in order to receive rewards.

The DAO will now debate the issue further and could vote on whether or not to execute the proposal. If the proposal is accepted, it will be the first time that the DAO liquidates a significant portion of its funds in order to fund its operations. The move would also provide an interesting insight into the potential implications of a large-scale sale of ETH, as well as the perception of the asset by the broader Ethereum community.

• Busan, South Korea, will be launching the world’s first decentralized digital commodity exchange in H2 2023.
• The exchange will tokenize intellectual properties, gold, ships, and real estate.
• The project is expected to kick off in February 2023, and a legal corporation will be established to carry out technical tests.

Busan, South Korea, is set to launch the world’s first decentralized digital commodity exchange as early as this year. This exchange, headed by Chairman Kim Sang-min and his promotion committee, will tokenize a variety of commodities such as intellectual properties, gold, ships, and real estate. The exchange is expected to start with tokenizing intellectual properties in movies and games due to the city’s rich cultural content like the Busan International Film Festival and G-Star video game exhibition.

This launch is part of the Seoul Metropolitan Government’s effort to promote a traditional asset center in the United States and then a digital asset center in Busan. To ensure a level playing ground for everyone, the tokenization of highly-priced assets is being implemented. The project is likely to kick off in February 2023 and the legal corporation will be responsible for the technical tests and eventually expanding the exchange offerings to blockchain-based digital assets.

Interestingly, the city shelved previous plans to launch a city-backed crypto exchange in order to prevent altercations with local regulators. This is a noteworthy move as Busan will now become the hub for digital commodities and tokenization of real world assets.

The promotion committee is optimistic about the project and believes that the tokenization of highly-priced assets will make it possible for anyone to trade on these assets with minimal capital. It remains to be seen if the project will be successful and if Busan will be able to establish itself as a leading city for digital commodities.