09-09-2024

Author

Fernando Fierro
September 09, 2024

Howdy folks,

🔥🚀 Binance has permanently barred former CEO Changpeng Zhao (CZ) amid a settlement with US authorities, raising significant uncertainty about the company's future. Although Zhao retains shareholder rights, his operational influence is strictly prohibited, yet the DOJ’s settlement terms leave room for potential legal disputes.

This ban, coupled with Zhao’s pivot towards blockchain and AI investment, adds complexity to Binance’s ongoing expansion efforts.

In other news:

🔐💸 The Penpie hacker successfully laundered all stolen funds from the DeFi platform by moving Ether to Tornado Cash in multiple transactions. Penpie is intensifying its efforts to reclaim over $27 million after discovering a security flaw involving reentrancy protection in their staking market.

Despite offering a $2.7 million bounty, the hacker ignored Penpie’s plea and has now fully laundered the funds, drawing mixed reactions from the crypto community.

🔍📄 Coinbase scored a mixed victory by securing access to key SEC documents but lost the bid to question SEC Chair, Gary Gensler. Judge Katherine Polk Failla's partial approval allows Coinbase to bolster its defense, though the court blocked the request for Gensler's testimony, complicating the regulatory landscape.

This ruling could signal a significant shift in U.S. crypto regulation, but the ongoing legal battle leaves the industry uncertain.

🚀📉 Arthur Hayes has closed his short position on Bitcoin, having failed to reach his sub-$50,000 forecast, but still turned a small profit to cover his Korea Blockchain Week expenses. Despite Bitcoin holding above $53,000, Hayes anticipates a price rally next week, attributing it to potential U.S. dollar liquidity from the Federal Reserve.

His recent shift in outlook comes amid U.S. economic uncertainties, as cooler-than-expected job data suggests a possible downturn.

DailyCoin Daily Meme

CFTC Seeks an “Emergency Stay” of Kalshi’s Significant Win In Court, Citing “Serious Legal Questions at Stake”

The CFTC has jumped the gun in Kalshi’s case, seeking an “emergency stay” of the predictions market’s recent court win.

SLERF’s DEX Liquidity Tops $46M, Eclipsing PEPE’s $36M, FLOKI’s $29M, and WIF’s $21M

SLERF enjoys the highest DEX liquidity of all memecoins, including PEPE, FLOKI, and WIF.

Why Ethereum’s Vitalik Buterin Will Not Invest in Any Layer 2 or Token Projects for the "Foreseeable Future"

Vitalik Buterin takes a major stance on how he will support Layer 2 projects going forward.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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