Howdy folks,What can we say about this weekAt least we are seven days closer to the summer. ⛱️

Let’s get started, shall we?

• 📅 A Terra-ble Reminder: Anniversary Spurs Crypto Cautionary Tale

• 🏎️ Crypto Cruisin': Bitcoin-Fueled Ferrari Fiasco in Morocco Ends in Penalty Pit Stop

• 🥔 CZ's Binance.US Stake: A Regulatory Hot Potato?

📅 A Terra-ble Reminder: Anniversary Spurs Crypto Cautionary Tale

With the passing of a year since the infamous Terra crash, the crypto community is knee-deep in retrospection, using the bitter anniversary to ruminate on lessons learned from the $40 billion wipeout that sent Bitcoin plunging faster than a free-falling satellite.

In a case of misery loves company, Bitcoin took a nosedive from $28,000 to $19,000, marking a grim milestone in the crypto-verse. 

The Terra crash wasn't just a proverbial asteroid hitting the crypto world. 🌎

It was a wake-up call, a reminder of the importance of liquidity, transparency, and user protection.

The Terra crash left an indelible impact on the community, with many echoing the sentiment that such calamities should never happen. 🚧

Amid the chaos, they found wisdom, reminding each other to trade strategically, not emotionally, and, above all, always to be prepared for cosmic turbulence.

🏎️ Crypto Cruisin': Bitcoin-Fueled Ferrari Fiasco in Morocco Ends in Penalty Pit Stop

When a 21-year-old French speedster named Thomas Clausi splurged on a Ferrari using Bitcoin, he probably didn't expect to find himself in the middle of a Moroccan court drama. 

Unfortunately for Clausi, his need for speed and love for crypto led to an upheld 18-month sentence and a whopping $3.7 million fine. 💸

Ouch! 

Morocco, where owning or trading cryptocurrencies is as welcomed as a flat tire on race day, handed down the initial sentence in October 2022. 

Clausi's recent appeal? 

Quashed faster than a rookie driver's dream at the Monaco Grand Prix. 🏁

The wheels started spinning when a French expat in Casablanca sold Clausi the flashy ride for Bitcoin equivalent of 400,000 euros. 

However, when she realized that Clausi's crypto-coins were as welcome in Morocco as a sandstorm at a picnic, she cried foul play.

Despite the 18-month sentence, Clausi's lawyer confirmed that he'd be out in a little over a month. 

Talk about a pit stop!

🥔 CZ's Binance.US Stake: A Regulatory Hot Potato?

As regulatory heat waves crash against the shores of Binance.US, founder Changpeng Zhao, aka CZ, contemplates reducing his stake in the crypto exchange. 

According to whispers in the digital grapevine, the crypto tycoon has been contemplating this move since last summer.

The U.S. regulators, like strict school teachers, have been keeping a close eye on Binance and CZ, leading to a legal drama worthy of a primetime TV slot. 📺

In March, the Commodity Futures Trading Commission accused Binance and CZ of running an "illegal" exchange with a compliance program about as convincing as a three-dollar bill.

In response, Binance.US donned its compliance cape, claiming a 'three lines of defense' approach to risk and compliance. ⚠️

Now, it seems that the top brass at Binance.US are contemplating a 'CZ-less' future, believing that his majority ownership may be the roadblock in their quest for certain regulatory licenses.

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