This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
Share Dialog
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Another Monday, and another hot crypto story unfurling. A new U.S. Department of Justice probe accuses Binance of violating sanctions against Iran, by allowing ~$1B in crypto transactions to Iranian-based businesses. The probe also saw some irregularities in Binance’s compliance program. The investigation is primarily centered around U.S. anti-money laundering laws and sanctions. The interesting part is it is understood the DOJ has enough evidence to put criminal charges against some Binance executives, including CZ. However, another section of the DOJ wants to do a review of the evidence before handing out charges. CZ has denied any wrongdoing in the matter.
This is another bad situation for the crypto world. Although this is not an FTX-level implosion situation, but if the charges do go through and there is proof of sanction violations, it will become another red mark on the crypto industry, and gives naysayers even more reason to call crypto a vehicle for crime, terrorism, etc.
As I mentioned before, centralized services have come to a point where they cannot be trusted for so many reasons. Violating sanctions might not hurt users directly, but if there was ever a chance to funds to get locked up while investigations happen, this might be it. If you’re reading this and still have quite a bit of money in any centralized services, and are not actively trading it (ex. just bought some ETH and sitting on it), please self-custody! Don’t get to the point of regret as so many others have experienced this year!
Written by: nikethereum.eth / Medium / Mirror
Another Monday, and another hot crypto story unfurling. A new U.S. Department of Justice probe accuses Binance of violating sanctions against Iran, by allowing ~$1B in crypto transactions to Iranian-based businesses. The probe also saw some irregularities in Binance’s compliance program. The investigation is primarily centered around U.S. anti-money laundering laws and sanctions. The interesting part is it is understood the DOJ has enough evidence to put criminal charges against some Binance executives, including CZ. However, another section of the DOJ wants to do a review of the evidence before handing out charges. CZ has denied any wrongdoing in the matter.
This is another bad situation for the crypto world. Although this is not an FTX-level implosion situation, but if the charges do go through and there is proof of sanction violations, it will become another red mark on the crypto industry, and gives naysayers even more reason to call crypto a vehicle for crime, terrorism, etc.
As I mentioned before, centralized services have come to a point where they cannot be trusted for so many reasons. Violating sanctions might not hurt users directly, but if there was ever a chance to funds to get locked up while investigations happen, this might be it. If you’re reading this and still have quite a bit of money in any centralized services, and are not actively trading it (ex. just bought some ETH and sitting on it), please self-custody! Don’t get to the point of regret as so many others have experienced this year!
Written by: nikethereum.eth / Medium / Mirror
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