Elon Musking, Paxful Closing, Banks Cryptoing, Scammers and 20 Crypto Jokes

by Arthur · April 8, 2023

This week in crypto: Elon Musk tweeted about Dogecoin which sent it pumping a staggering +35% and we checked if it’s too late to buy DOGE. We looked at Ethereum price predictions as the Shanghai upgrade approaches, while CoinShares found that investors continued to buy Bitcoin, and Coinbase found that crypto could save Americans billions in remittances each year. MicroStrategy’s $30 million Bitcoin acquisition catapulted its crypto wealth into the billions, Fabian Vogelsteller aimed to establish an all-encompassing ecosystem for creative professionals with LUKSO, while LayerZero Labs raised $120 million, valuing the firm at $3 billion.

But then, Paxful shocked the Cryptoverse when it said it would suspend its marketplace, Binance lost 16% of its market share since ending zero fees on BTC pairs and the CFTC lawsuit. to locate and arrest him, and a US judge ordered Binance.US’ acquisition of Voyager Digital to halt pending a government appeal. Justin Sun denied claims that he was considering selling his stake in Huobi, but Binance reportedly rejected Sun’s offer to buy his stake in Huobi citing ties to mainland China. Meanwhile, M11 Credit resumed crypto lending at Maple Finance.

While all this was happening, PostFinance partnered with Sygnum Bank to offer its clients crypto trading and storage services, S&P Global was looking for a DeFi director to oversee its expansion into this sector, SEB and Crédit Agricole CIB jointly launched the blockchain-based platform so |bond, and a New York financial regulator clarified that the closure of Signature Bank was not related to crypto activities.

Residents of Nanjing, China opened more than 310,000 personal digital yuan wallets with other cities posting similar statistics, Russian central bank said residents spend more per household on crypto than gold, British companies took their complaints directly to the government amid increasing banking restrictions, the ongoing regulatory crackdown on crypto in the US could bolster Hong Kong in its bid to become a new crypto hub, and Singapore officials partnered with local banks to develop uniform standards for evaluating crypto customers.

In South Korea, police raided a plastic surgery clinic in connection with a suspected crypto-motivated kidnapping and murder, the country came under attack from NFT scammers posing as bona fide project operators, and authorities confirmed they asked Binance to freeze Terra co-founder Daniel Shin’s crypto. In the US, the DOJ seized more than $112 million worth of crypto linked to several crypto-related scams.

Kaspersky warned against hackers using corrupt software to attack crypto firms with “surgical precision”, InformZashitae found a “significant” increase in the number of fake crypto exchanges targeting Russian-speaking crypto traders, and a Canadian explained how he was cheated out of almost $205,000. value of tokens in an elaborate crypto scam.

And now – your royal majesties, the jokes.

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Good morning, CT! What’s up?

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