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- 29-08-2024
29-08-2024
Fernando Fierro
August 29, 2024
Howdy folks,
🤑🔪 The crypto fraud trial in South Korea has escalated to violence, with Haru Invest CEO Hugo Hyungsoo Lee attacked by a disgruntled investor. The attack highlights the real-world impacts of financial fraud, involving $826 million and affecting 16,000 users.
South Korea’s intense exposure to crypto and recent high-profile cases like Terra-Luna and Delio underscore the urgency for stronger regulations and investor protections.
In other news:
🔒💼 Palestinian customers are outraged after Binance froze their digital assets in response to a formal request by Israeli authorities. Binance's co-founder Yi He clarified that only accounts with illicit links were blocked, citing global anti-money laundering policies and a hefty $4 billion fine.
Despite this, the #boycottbinance campaign is gaining traction on X, with many users urging account closures and withdrawals.
💰🔥 Celsius Network has distributed $2.5 billion to over 250,000 creditors in its ambitious recovery from its financial collapse and bankruptcy. Despite this progress, many creditors with smaller claims ranging from under $100 to $1,000 remain unaddressed.
Concurrently, the company and its ex-CEO face significant legal challenges, including a $4.7 billion fine and criminal charges for financial misconduct.
📉📊 Ethereum's price took a hit, dropping below $2,500 amid a broader crypto market downturn. The Ethereum Foundation recently moved 35K ETH to Kraken, prompting speculation about a potential market top as ETH ETFs experienced nine consecutive days of outflows.
Crypto analysts are now watching for lower entry points, anticipating further price drops and significant market activity.
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