12-08-2024

Author

Fernando Fierro
August 12, 2024

Howdy folks,

⚡️🏦 Tether is fiercely contesting Celsius's lawsuit to reclaim over $2 billion in Bitcoin, labeling it a “baseless” attempt to shift blame for Celsius' financial woes. Tether asserts the claims involve misrepresented facts and is committed to defending itself vigorously, with CEO Paolo Ardoino confident in a favorable outcome.

This battle underscores the tension between the firms and could set a precedent impacting litigation in the crypto industry.

In other news:

⚠️💰 MakerDAO has raised alarms over the planned WBTC custody shift to a joint venture involving Justin Sun and the Tron ecosystem, citing "unacceptable" risk levels. MakerDAO's concerns stem from previous issues with Sun, including a stablecoin project that saw management resignations and transparency problems.

As a precaution, MakerDAO may disable WBTC borrowing and reduce its loan-to-value ratio in response to the shift.

🚨🪙 Ripple is alerting users about a spike in scams targeting their new projects amidst ongoing lawsuits with the SEC. Using deepfakes and fake social media profiles, cybercriminals are impersonating Ripple CEOs to trick investors into fraudulent schemes.

As Ripple prepares to launch its RLUSD stablecoin, vigilance is crucial to avoid falling for these sophisticated scams.

💥💼 Democrats are striving to mend damaged relations with the crypto industry under Biden's administration. A tense Zoom meeting between crypto execs and high-ranking officials revealed deep frustrations over regulatory policies while showcasing both criticism and efforts to build dialogue.

As the November election looms, with Trump being a vocal crypto supporter, Democrats are recalibrating their stance to win back industry support amid allegations of de-banking.

DailyCoin Daily Meme

$3 Billion Surge in USDT and USDC Boosts Crypto Comeback

USDT and USDC supplies surge by nearly $3B in a week, echoing last year's bull run trend. Is investor confidence returning? Discover more on DailyCoin.

No SEC Appeal Expected in Ripple Case as Judge Hands Down Fines

Ripple's case concludes with a $125 million penalty, and an SEC appeal seems unlikely. Stay updated on this significant development at DailyCoin.

Binance Web Pages Face Access Restrictions in Venezuela

Venezuelans turn to VPNs to access Binance’s web pages, which have been restricted in the ongoing digital suppression.

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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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