30-08-2024

Author

Fernando Fierro
August 30, 2024

Howdy folks,

😥💸 A Solana investor saw their $1 million quickly dwindle to below $10K due to a fraudulent meme coin named $MBAPPE, promoted via a hacked Kylian Mbappé Twitter account. The investor, known as President Push, questioned Mbappé about a possible refund after the scam caused a devastating rug pull.

This incident highlights a surge in celebrity crypto rug pulls fueled by hacks in 2024, with fans and investors frequently falling victim.

In other news:

🎨⚖️ OpenSea is gearing up for a legal battle against the SEC after receiving a Wells Notice, which signals a potential enforcement action over claims that NFTs on their platform might be classified as securities. CEO Devin Finzer has expressed shock and disappointment, arguing that NFTs are distinct from traditional financial products and cautioning that this legal action threatens creativity and innovation.

With other crypto entities previously facing SEC scrutiny, the outcome of this case could redefine regulatory boundaries for the NFT sector.

🚀🔐 Telegram CEO Pavel Durov has been released on bail, facing allegations of enabling illegal activities through the platform. Detained since August 25, Durov posted a €5 million bail but must remain in France and report to authorities regularly.

This event has sparked debate over free speech and regulatory oversight, with tech leaders vocalizing support for Durov as the implications for Telegram and its crypto integrations unfold.

📉🔮 Bitcoiners are eyeing a return to all-time highs, but a historically weak September could dampen these ambitions. Despite a volatile year, with Bitcoin swinging from a record $74K to recent lows, September has been the toughest month since 2013, causing an average drop of 4.78%.

However, the upcoming FOMC meeting might inject some bullish sentiment into the market ahead of Bitcoin's traditionally strong Q4 performance.

DailyCoin Daily Meme

XRP Set for a Surge? Ripple’s Major Bank Deals Hold the Key

Ripple's potential bank partnerships could significantly impact XRP's future. Stay informed with the latest updates on DailyCoin.

Crypto Lobbying Rose Tenfold, But It’s Still Just Catching Up

Crypto companies like Apollo Global Management and Coinbase lead in lobbying spending. Still, figures pale in comparison to other industries.

TON Hit by Second Major Outage in Two Days

TON blockchain experienced a second disruption shortly after recovering from a major outage. Read more on DailyCoin.

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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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