Will Binance Be Shut Down? 💥

In today's edition: 🎙️ New Episode of The Chopping Block!, 🤝 Binance's ties with China, ✅ good news for Celsius customers, and more!

March 30, 2023

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New Show Today!

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra chop it up about the latest news. In this episode, they discuss Binance's recent regulatory issues, the potential impact on the crypto markets, the CFTC's stance on tokens, and also touch on Do Kwon's arrest and Hong Kong's approach to crypto regulation.

What’s Poppin’?

by Samyuktha Sriram

Binance CEO CZ and other senior executives allegedly instructed employees to hide its presence in China after 2017.

Paxful CEO Ray Youssef plans to return funds to Celsius Earn users on the platform using the firm’s own funds.

A token burn function created an exploit opportunity for one user, but his profits were short- lived after he was front-run by someone else.

Binance.US said that the Signature Bank sale has disrupted deposit and withdrawal services for some users on the exchange.

The Cryptopians: Now in Chinese! 🇨🇳

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Daily Bits…✍️✍️✍️

  • Sam Bankman-Fried, the founder of FTX, will plead not guilty to charges of attempting to bribe Chinese officials and evade campaign financing laws, according to Reuters.

  • OKX announced that it identified $157 million in digital assets belonging to FTX and Alameda Research and is turning them over to the bankruptcy estate of the former companies.

  • The Winklevoss twins' crypto exchange Gemini is reportedly considering launching an international derivatives exchange, with a focus on perpetual futures contracts which are banned in the US for retail traders due to their high risk and leverage.

  • During a press conference on Wednesday, Montenegro's Justice Minister Marko Kovac announced that both the U.S. and South Korea made requests for the extradition of Do Kwon, the founder of TerraForm Labs.

  • Crypto trading platform Beaxy ceased operations after the US Securities and Exchange Commission (SEC) charged the company and its founder, Artak Hamazaspyan, with running an unregistered exchange and brokerage.

  • US Treasury's Undersecretary for Domestic Finance, Nellie Liang, told the House Financial Services Committee that the recent failures of Silicon Valley Bank and Signature Bank were not caused by the crypto industry.

  • During a hearing of the House Financial Services Committee, FDIC Chair Martin Gruenberg was questioned by committee members about the agency's handling of Signature Bank's digital asset-related business.

Today in Crypto Adoption...

  • Mercado Libre, the largest e-commerce company in Latin America, partnered with regional crypto firm Ripio to launch cryptocurrency trading services in Chile through its digital wallet, Mercado Pago.

  • Japan's finance ministry is launching an expert panel next month to study the possibility of a central bank digital currency (CBDC) and create a framework for a digital yen.

The $$$ Corner…

  • Artificial intelligence-focused crypto protocol Fetch.ai secured $40 million in a funding round, which will be used to deploy decentralized machine learning, autonomous agents, and network infrastructure on its platform.

  • Decentralized investment fund Hydra Ventures raised $10 million in a funding round joined by web3 investors, including ConsenSys, Collab+Currency, Seed Club, 1kx, and Wicklow Capital.

  • Econia Labs, a startup that provides an order book protocol for decentralized finance (DeFi) in the Aptos ecosystem, closed a $6.5 million seed funding round led by Dragonfly.

Decentralized autonomous organizations, or DAOs, are groups with no central leadership. Learn everything about DAOs!

What Do You Meme?

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📈 Your Market Update 📉

  • BTC is up 1.09%, trading at $28,737

  • ETH is down .52%, trading at $1,814

  • BTC dominance: 46.52%

  • Crypto market cap: $1.19 trillion

*All data as of today, 6 am ET

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