2024-05-10

May 10, 2024

Howdy folks,

Binance just received another hefty fine, this time a cool $4.3 million USD from Canada's FINTRAC, for failing to comply with anti-money laundering rules.

Last November, the U.S. DOJ fined Binance billions. Now, they face more pressure globally with ongoing issues in places like the Philippines and Nigeria, where their CFO is currently detained.

In other news:

🚫👴 Cardano's founder, Charles Hoskinson, has blasted the Biden administration for what he calls a direct attack on the U.S. crypto industry.

He argues that the administration's policies are driving critical crypto innovation and business out of the country, jeopardizing technological advances and the jobs that come with it.

This outcry comes after President Biden threatened to veto a pro-crypto resolution from Congress, maintaining a tough stance against the sector.

🇺🇸✅ In a contrasting political stance, Donald Trump voiced strong support for the crypto industry at a recent event, ensuring that he would combat the regulatory hostility forcing firms out of the U.S.

His support contrasts sharply with the current administration's crackdowns and could signal a significant policy shift if he re-enters the White House.

Crypto is still ignored among the general population, but Trump's backing seems like a strategy to woo the tech-savvy voter base.

🔍 Crypto mixers are in hot water in the U.S. as new regulations loom.

The proposed Blockchain Integrity Act aims to crack down on mixers like Tornado Cash and Samourai Wallet, which are accused of facilitating illicit financial flows.

The bill, backed by several lawmakers, could impose significant restrictions on how crypto is mixed, signaling tougher regulatory scrutiny ahead.

DailyCoin Daily Meme

Fired Binance Investigator Claims Exchange Protected VIP Trader Despite Uncovering Fraud

Binance whistleblower alleges the exchange protected VIP high-roller engaging in fraud and market manipulation. Click to read more.

Why is Donald Trump Mocking BODEN in the Midst of the Returning Meme Coin Craze?

Presidential candidate coins bump heads along with their electoral counterparts, triggering a massive surge after Trump’s special event at Mar-a-Lago.

Bitcoin Short-Term Jitters: Are Whales Losing Interest?

Divided by conflicting on-chain data, analysts debate whether Bitcoin whales are accumulating or nearing a sell-off.

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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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