MonetaryUnit(MUE)

The DEX previously said traders lost a significant amount of ADA due to a “misunderstanding” about how the platform operates, but confirmed it would refund losses at the time.

SEBA Hong Kong, the Hong Kong arm of the crypto-friendly Swiss-based bank SEBA Bank, announced it received in-principle approval from the Hong Kong Securities and Futures Commission (SFC). The Hong Kong branch of the Swiss SEBA Bank announced it was granted preliminary approval from the SFC, which allows it to deal in virtual assets. SEBA Hong Kong Completes First Step to Acquiring Official License Today, SEBA Bank announced in a press release its Hong Kong subsidiary, SEBA Hong Kong, received approval-in-principle (AIP) from the SFC. According to its press statement, the AIP for its license application to operate regulated activities in the city-state allows it "to deal in securities, including virtual assets-related products, such as OTC derivatives and structured products; advise on securities and virtual assets; and conduct asset management for discretionary accounts in both traditional securities and virtual assets." SEBA explained that the license, when issued, allows SEBA Hong Kong to join the first group of licensed corporations in Hong Kong to offer investment services with crypto capabilities. Receiving an AIP is the first significant step in SEBA Hong Kong's journey to obtaining an official license "that will allow it to operate as a licensed entity once all the SFC conditions have been met." Amy Yu, CEO APAC of SEBA Hong Kong, commented: "It is exciting to be at the forefront of innovation in one of the world's leading financial and technological centres, Hong Kong. This AIP signifies that all our efforts are heading in the right direction –– SEBA group wants to service crypto investors in jurisdictions that recognise the value of digital assets. We see enormous potential in Hong Kong's journey to becoming a global crypto market leader and look forward to contributing to that trajectory. SEBA Hong Kong commends the example Hong Kong sets for regulatory standards worldwide, and values the role of this licence in expanding our regulated footprint across Asia Pacific." Franz Bergmueller, Group CEO of SEBA Bank, commented on the significance of obtaining an AIP: "SEBA Hong Kong's AIP is a reflection of our team's commitment towards compliance and due diligence — essential pillars of tomorrow's digital economy. Complementing SEBA group's established licences in Switzerland (FINMA) and Abu Dhabi (FSRA), the Hong Kong AIP significantly extends our global regulatory footprint. SEBA group aligns itself with the Hong Kong government and its financial regulators in facilitating an environment that supports the responsible growth of the digital assets industry." Hong Kong Works Toward Becoming a Crypto Hub Hong Kong announced its intention to become a hub for digital assets and has introduced several new measures to attract crypto firms to its shores. The city-state introduced new regulations for the industry, which took effect in July. HashKey Exchange became the first licensed crypto exchange in Hong Kong under its newly implemented regulatory framework. The exchange upgraded its type 1 and type 7 licenses, allowing it to serve retail customers. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The $5 million investment from Binance Labs in the CRV token is part of a strategic deal under which Curve will explore deployment to the BNB Chain. Let’s find out more. Ethereum Less than a day after PayPal’s huge announcement, Ethereum became flooded by imposter tokens trying to ride the hype. DeFi The Curve protocol is trying to track down the lost funds and the hacker by offering a $1.85 million reward to anyone identifying the exploiter. Binance Labs, the venture capital and incubation division of Binance, has plunged $5 million into the Curve DAO Token (CRV), cementing its stance in the DeFi realm. The MakerDAO founder, Rune Christensen, announced an airdrop for the Spark Protocol’s native SPK token. The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol’s exposure to Curve Finance’s CRV token. Cardano-based DEX, MuesliSwap, has taken the decision to refund users who faced unintended losses due to slippage mechanics on the platform. Solana-based DEX, Cypher Protocol, disclosed on August 7th that a significant security breach occurred on their platform. Altcoins Yield Guild Games surged nearly 600% in less than a week, smashing through the top gainers' charts before abruptly crashing. Business Asian crypto exchange, Huobi, is doing its best to dispel the arrest and financial stability rumors that have led to a flight of funds. As Bitcoin breaks higher, rating agency Moody’s downgraded 10 US banks on Monday, with negative rating actions on many more. In a groundbreaking move, video game commerce giant Xsolla has teamed up with cryptocurrency platform, Crypto.com. OPNX, the newly launched crypto exchange by founders of the now-defunct Three Arrows Capital (3AC), has reportedly launched a bid to take over struggling crypto lender Hodlnaut. Binance has published its August 2023 reserve report, showcasing a reserve ratio well over 100% for all of its major cryptocurrency holdings. Regulation South Korean authorities have arrested the CEO of the Bitsonic crypto exchange, Jinwook Shin, for allegedly stealing $7.5 million dollars of user funds. The Federal Reserve has issued a new announcement obliging banks to jump through extremely exacting requirements in order to do business with crypto entities. Crypto exchange Bittrex has agreed to a $24 million settlement with the SEC, bringing to close allegations of offering unregistered securities to American investors. The French financial regulator announced amendments to its registration requirements for digital asset service providers as it prepares for MiCA’s implementation. Hong Kong’s Securities and Futures Commission (SFC) issued a warning addressing investors against crypto platforms “engaging in improper practices.” Bitstamp announced that it would suspend trading for several cryptocurrencies identified as securities by the SEC in cases against Binance and Coinbase. Binance announced that it had become the first fully licensed cryptocurrency trading platform in the country of El Salvador. Stakeholders of blockchain-based trading protocol Mango Markets are grappling with financial challenges as the platform faces mounting legal expenses in the aftermath of its exploit. Blockchain.com has secured a payments license from Singapore's regulatory body, the Monetary Authority of Singapore (MAS). Prominent crypto analyst and investor Adam Cochran has called into question the solvency of Huobi, the 12th largest cryptocurrency exchange globally by spot trading volume. Web3 India has challenged its residents to develop an indigenous web browser with the feature of signing documents digitally through crypto tokens. The waitlist for the integration of a self-custody wallet, TON Space, within Telegram Messenger, is now available for developers. The new collaboration between Microsoft and Aptos Labs will use the best of AI and blockchain technologies to drive Web3 to the masses. Prominent stablecoin issuer Circle announces the launch of its Web3 Programmable Wallets public beta version for developers on three blockchains. Security Venture capital firm Blockchain Capital fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked. DeFi stalwart, MakerDAO, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol. Steadefi has become the latest DeFi entity to be hit with an exploit, with the company stating in a tweet on X that all the funds it currently holds are at risk of becoming irrecoverable. Alchemix, a lending platform, has reported that all the funds stolen by the Curve Finance hacker from Alchemix’s alETH-ETH pool have been returned. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The $5 million investment from Binance Labs in the CRV token is part of a strategic deal under which Curve will explore deployment to the BNB Chain. Let’s find out more. Ethereum Less than a day after PayPal’s huge announcement, Ethereum became flooded by imposter tokens trying to ride the hype. DeFi The Curve protocol is trying to track down the lost funds and the hacker by offering a $1.85 million reward to anyone identifying the exploiter. Binance Labs, the venture capital and incubation division of Binance, has plunged $5 million into the Curve DAO Token (CRV), cementing its stance in the DeFi realm. The MakerDAO founder, Rune Christensen, announced an airdrop for the Spark Protocol’s native SPK token. The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol’s exposure to Curve Finance’s CRV token. Cardano-based DEX, MuesliSwap, has taken the decision to refund users who faced unintended losses due to slippage mechanics on the platform. Solana-based DEX, Cypher Protocol, disclosed on August 7th that a significant security breach occurred on their platform. Altcoins Yield Guild Games surged nearly 600% in less than a week, smashing through the top gainers' charts before abruptly crashing. Business Asian crypto exchange, Huobi, is doing its best to dispel the arrest and financial stability rumors that have led to a flight of funds. As Bitcoin breaks higher, rating agency Moody’s downgraded 10 US banks on Monday, with negative rating actions on many more. In a groundbreaking move, video game commerce giant Xsolla has teamed up with cryptocurrency platform, Crypto.com. OPNX, the newly launched crypto exchange by founders of the now-defunct Three Arrows Capital (3AC), has reportedly launched a bid to take over struggling crypto lender Hodlnaut. Binance has published its August 2023 reserve report, showcasing a reserve ratio well over 100% for all of its major cryptocurrency holdings. Regulation South Korean authorities have arrested the CEO of the Bitsonic crypto exchange, Jinwook Shin, for allegedly stealing $7.5 million dollars of user funds. The Federal Reserve has issued a new announcement obliging banks to jump through extremely exacting requirements in order to do business with crypto entities. Crypto exchange Bittrex has agreed to a $24 million settlement with the SEC, bringing to close allegations of offering unregistered securities to American investors. The French financial regulator announced amendments to its registration requirements for digital asset service providers as it prepares for MiCA’s implementation. Hong Kong’s Securities and Futures Commission (SFC) issued a warning addressing investors against crypto platforms “engaging in improper practices.” Bitstamp announced that it would suspend trading for several cryptocurrencies identified as securities by the SEC in cases against Binance and Coinbase. Binance announced that it had become the first fully licensed cryptocurrency trading platform in the country of El Salvador. Stakeholders of blockchain-based trading protocol Mango Markets are grappling with financial challenges as the platform faces mounting legal expenses in the aftermath of its exploit. Blockchain.com has secured a payments license from Singapore's regulatory body, the Monetary Authority of Singapore (MAS). Prominent crypto analyst and investor Adam Cochran has called into question the solvency of Huobi, the 12th largest cryptocurrency exchange globally by spot trading volume. Web3 India has challenged its residents to develop an indigenous web browser with the feature of signing documents digitally through crypto tokens. The waitlist for the integration of a self-custody wallet, TON Space, within Telegram Messenger, is now available for developers. The new collaboration between Microsoft and Aptos Labs will use the best of AI and blockchain technologies to drive Web3 to the masses. Prominent stablecoin issuer Circle announces the launch of its Web3 Programmable Wallets public beta version for developers on three blockchains. Security Venture capital firm Blockchain Capital fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked. DeFi stalwart, MakerDAO, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol. Steadefi has become the latest DeFi entity to be hit with an exploit, with the company stating in a tweet on X that all the funds it currently holds are at risk of becoming irrecoverable. Alchemix, a lending platform, has reported that all the funds stolen by the Curve Finance hacker from Alchemix’s alETH-ETH pool have been returned. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

MuesliSwap, a prominent decentralized exchange (DEX) on the Cardano blockchain, has taken the decision to refund users who faced unintended losses due to a "misunderstanding" regarding slippage mechanics within its platform. Refunding Users Affected by High Slippage The team behind MuesliSwap has acknowledged that users have been grappling with substantial slippage issues over the past year. On August 8, they openly admitted that they needed to adequately clarify the intricacies of the slippage feature in their protocol via a statement on X (formerly Twitter). “To make amends, we will be refunding affected users who encountered high slippage on the MuesliSwap pools in the last 12 months from our project funds. Additionally, immediate action has been taken to remedy the slippage issue in the MuesliSwap order book” basically, MuesliSwap has pledged to refund users who have experienced high slippage within the past year. The team also promptly made adjustments to fix the slippage problem within the MuesliSwap order book. Affected users can expect the refund process to span up to four weeks. The funds will be automatically distributed based on an analysis of a user's on-chain trading history. Understanding Slippage and Its Impact Slippage, a concept widely recognized in trading, refers to the difference between the intended trade execution price and the actual price due to factors like market liquidity. DEX users can manually set a slippage threshold according to their comfort level. The Cardano-based DeFi, MuesliSwap's unique approach to slippage involved allowing decentralized matchmakers to either return the extra slippage amount or retain the difference, adding an extra layer of complexity. Unfortunately, this approach led to confusion, particularly among new users.The team has promised to remedy the situation so as to prevent similar confusion amongst users, stating, “Going forward, our DEX protocol will provide clear and accurate information on slippage when interacting with our pools. Your trading experience matters, and we're determined to make it seamless!” User Concerns Across Cardano DEXs Slippage concerns have been voiced across various DEXs operating on the Cardano network. A trader on August 4 highlighted the challenges of executing large trades due to substantial slippage, impacting overall trading value. The team also responded to another trader who enquired about the process, stating that all trade-related information would be fetched from the blockchain automatically and traders would not need to fill out any form to get the refund. MuesliSwap's commitment to addressing slippage-related concerns reflects its dedication to refining the user experience and maintaining a transparent ecosystem for the Cardano community. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

MuesliSwap, a prominent decentralized exchange (DEX) on the Cardano blockchain, has taken the decision to refund users who faced unintended losses due to a "misunderstanding" regarding slippage mechanics within its platform. Refunding Users Affected by High Slippage The team behind MuesliSwap has acknowledged that users have been grappling with substantial slippage issues over the past year. On August 8, they openly admitted that they needed to adequately clarify the intricacies of the slippage feature in their protocol via a statement on X (formerly Twitter). “To make amends, we will be refunding affected users who encountered high slippage on the MuesliSwap pools in the last 12 months from our project funds. Additionally, immediate action has been taken to remedy the slippage issue in the MuesliSwap order book” basically, MuesliSwap has pledged to refund users who have experienced high slippage within the past year. The team also promptly made adjustments to fix the slippage problem within the MuesliSwap order book. Affected users can expect the refund process to span up to four weeks. The funds will be automatically distributed based on an analysis of a user's on-chain trading history. Understanding Slippage and Its Impact Slippage, a concept widely recognized in trading, refers to the difference between the intended trade execution price and the actual price due to factors like market liquidity. DEX users can manually set a slippage threshold according to their comfort level. The Cardano-based DeFi, MuesliSwap's unique approach to slippage involved allowing decentralized matchmakers to either return the extra slippage amount or retain the difference, adding an extra layer of complexity. Unfortunately, this approach led to confusion, particularly among new users.The team has promised to remedy the situation so as to prevent similar confusion amongst users, stating, “Going forward, our DEX protocol will provide clear and accurate information on slippage when interacting with our pools. Your trading experience matters, and we're determined to make it seamless!” User Concerns Across Cardano DEXs Slippage concerns have been voiced across various DEXs operating on the Cardano network. A trader on August 4 highlighted the challenges of executing large trades due to substantial slippage, impacting overall trading value. The team also responded to another trader who enquired about the process, stating that all trade-related information would be fetched from the blockchain automatically and traders would not need to fill out any form to get the refund. MuesliSwap's commitment to addressing slippage-related concerns reflects its dedication to refining the user experience and maintaining a transparent ecosystem for the Cardano community. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Immediate measures were enacted to address the slippage concern within the MuesliSwap order book.

Users are said to have lost varying amounts of funds by setting slippage too high due to a “misunderstanding.”

The MuesliSwap team wants to refund users that have lost funds to high slippage due to the way the DEX’s matchmaker was set up.

Changpeng Zhao and other defendants associated with the Binance crypto exchange plan to appeal to the court to dismiss a lawsuit from the United States commodities regulator. Binance’s Appeal To Dismiss Binance CEO Changpeng Zhao (CZ) and its former Chief Compliance Officer Samuel Lim have revealed that they will be filing motions with the court seeking permission to dismiss a prior complaint by the Commodity Futures Trading Commission (CFTC). In the July 24 filing to the Illinois District Court, the defendants, which consist of multiple entities from the Binance ecosystem, have claimed that they will be filing two separate motions to counter the CFTC’s complaint and appeal for its dismissal. The CFTC's lawsuit against Binance was filed on March 27, 2023, and the defendants are required to respond latest by July 27, 2023. In its latest filing, the Foreign Binance Entities, which includes CZ, has revealed intentions to file a joint Motion to Dismiss, while Samuel Lim plans to file a separate motion and incorporate parts of the motion filed by the other defendants. Binance Seeks To Exceed Page Limit Rule The defendants are also seeking to exceed the 15-page limit rule on the brief as they claim that they made every effort to adhere to this limit but contend that due to the intricacy of the CFTC's complaint and the multiple arguments they wish to present, their Memoranda of Law is likely to surpass the given page restriction. The filing reads, “Given the complexity of the CFTC’s Complaint and the number of arguments Defendants anticipate making in support of their Motions to Dismiss, Defendants anticipate that their Memoranda of Law in support of the two motions will exceed the fifteen-page limits.” In their motion, the defendants requested the court's permission to collectively use up to 50 pages for both Memoranda of Law. This proposed limit is 25 pages less than what the defendants would be entitled to under Local Rule 7.1 if each of them separately moved to dismiss the CFTC's complaint. CFTC’s Complaint Notably, the CFTC has agreed not to oppose this request, as confirmed by discussions between both parties' counsels. While the court has yet to issue a ruling on their motion, the cooperation from the CFTC's counsel indicates a willingness to accommodate the defendants' request. The regulatory body had accused Binance and Zhao of violating derivatives regulations and engaging in unregistered trading activities in the United States. The complaint alleged that Binance had strategically expanded its US presence despite publicly claiming to block or restrict access for US customers. CZ responded to the lawsuit, expressing surprise and disappointment, stating that it had been actively cooperating with the agency for over two years. As the July 27 deadline for the response approaches, market participants are keenly observing the developments in this case, as its outcome may have significant implications for the cryptocurrency industry. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Binance, Changpeng Zhao and former compliance chief Samuel Lim intend to file two motions to dismiss a March lawsuit from the CFTC against them.

Binance, Changpeng Zhao, and Samuel Lim filed a motion Monday night to ask the court for additional allowed length in its response.

Celsius co-founder and former CEO Alex Mashinsky was arrested on Thursday after an investigation into the bankrupt lender’s collapse. Alex Mashinsky, co-founder and former CEO of the insolvent cryptocurrency lender Celsius Network was arrested on Thursday according to a US Department of Justice (DOJ) indictment. Mashinsky and others have been charged with seven counts, including securities, commodities, and wire fraud, and a conspiracy charge to manipulate $CEL, Celsius’ native token, Bloomberg reports. SEC, CFTC, and FTC File Lawsuits Against Mashinsky The DOJ’s indictment is accompanied by separate lawsuits by the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Federal Trade Commission (FTC) against the company and Mashinsky. Celsius filed for Chapter 11 bankruptcy in July 2022, and the Fahrenheit consortium recently won a bid to acquire the lender’s assets. DOJ: Mashinsky Misled Investors for Years The Department of Justice accused Mashinsky and Celsius’ Chief Revenue Officer Roni Cohen-Pavon of running “a years-long scheme to mislead customers” on Celsius’ market value and its interest in CEL. Bloomberg reports the DOJ indictment further accused Mashinsky of making false and misleading public statements regarding his own sales of CEL. The DOJ indictment reads: Mashinsky portrayed Celsius as a modern-day bank, where customers could safely deposit crypto assets and earn interest. In truth, however, Mashinsky operated Celsius as a risky investment fund, taking in customer money under false and misleading pretences. CFTC Alleges a Fraud Scheme The Commodity Futures Trading Commission (CFTC) accused Mashinsky and Celsius of participating in a “scheme to defraud hundreds of thousands of customers by misrepresenting the safety and profitability of its digital asset-based finance platform.” The complaint adds despite worsening market conditions, Celsius continued to “promote the safety and viability of Celsius, and failed to disclose these losses to customers.” The regulator further alleges Celsius violated several federal commodities regulations, failed to register as a Commodity Pool Operator, engaged in fraud, and did not provide sufficient disclosure documents. Investigators from the CFTC previously concluded that Mashinsky and Celsius violated several US laws. SEC Accuses Celsius and Mashinsky of Securities Fraud In a separate lawsuit, the Securities and Exchange Commission accused Mashinsky and the firm of securities fraud. According to the SEC, CEL and Celsius’ Earn product are securities. The SEC’s complaint alleges: In this case, Celsius offered and sold CEL and the Earn Interest Program as securities. Celsius and Mashinsky never filed a registration statement or had one in effect with the SEC for their offers and sales of securities through the Earn Interest Program. FTC Announces $4.7 Billion Settlement With Celsius The barrage of claims against Celsius and its former CEO further included a Federal Trade Commission (FTC) complaint. The FTC said Celsius violated the Federal Trade Commission Act “in connection with the marketing and sale of cryptocurrency lending and custody services.” The commission said: Defendants assured customers that Celsius maintained sufficient reserves to meet customer obligations. However, the FTC reached a settlement agreement with Celsius “that will permanently ban it from handling customers’ assets” and prohibits it from “offering, marketing, or promoting any product or services that could be used to deposit, exchange, invest or withdraw any assets.” Celsius has agreed to a $4.7 billion judgement which will only be paid after creditors and investors have been repaid in bankruptcy proceedings. Samuel Levine, Director of the FTC’s Bureau of Customer Protection, commented on Celsius's alleged conduct, saying: Celsius touted a new business model but engaged in an old-fashioned swindle. Today’s action banning Celsius from handling people’s money and holding its executives accountable should make clear that emerging technologies are not above the law. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Miami, USA, May 17th, 2023, ChainwireIOVLabs, one of the global blockchain technology leaders, announced the launch of a $2.5 million strategic grants program to further enhance the development and adoption of Rootstock, the world’s first Bitcoin sidechain which has become a growing hub of DeFi activity on the Bitcoin network.The program was revealed today at the inaugural Bitcoin Builders Conference in Miami, a pioneering event focused on Bitcoin Layer 1 and Layer 2 developers.To discover eligible candidates for the grant program, IOVLabs also announced the launch of a Hackathon in partnership with HackerEarth, a global community of over 4 million developers.The Hackathon will run from May to July, featuring an ideation stage, a development stage, and a final pitch to an esteemed panel of judges from the Bitcoin and Rootstock ecosystems. Blockchain developers from all over the world are invited to apply.Given Rootstock's compatibility with Ethereum Virtual Machine (EVM), no prior knowledge is required to build decentralized applications (dApps) and integrations on the network. Developers can use the same solidity tools and libraries they are accustomed to, including Hardhat, Truffle, web3.js, and ethers.js.In addition to the possibility of qualifying for the $2.5 million grant program, all Hackathon participants stand a chance to win over $25,000 in prizes.Hackathon Judges include Rootstock Co-founder Sergio Lerner and mentors include Rootstock Co-founder Diego Gutiérrez Zaldívar. Rootstock ecosystem leaders including representatives from Sovryn and Tropykus will also be judging the hackathon.Developers can leverage Rootstock’s extensive resources on the DevPortal and gain the ability to incorporate the RIF’s pre-built open-source protocols into their current and future projects.This is part of a broader effort by IOVLabs to extend the possibilities of Bitcoin beyond being a store of value and help the ecosystem become a full-fledged financial system. The dual-pronged approach of supporting established financial institutions building and launching Web3 products and aiding entrepreneurs and builders with funding and support through hackathons and grants all speaks to IOVLabs’ desire to empower the community. Co-creation and the continual growth of Rootstock’s ecosystem partner list further attribute to that mission.IOVLabs VP of Growth Pei Chen comments:"IOVLabs' support of the strategic grants program demonstrates our strong commitment to provide the tools needed to build a truly decentralized financial system on Bitcoin. This is an opportunity for the next generation of developers to harness the Rootstock sidechain to extend the capabilities of Bitcoin and help create a freer and fairer financial system for all.”“Rootstock is rapidly becoming known as the home of DeFi on Bitcoin. But we believe now is the time to make it available to everyone, regardless of their technical ability. That’s why the overarching theme of this year’s grant programme is Everyday DeFi. This is how the first billion users will be onboarded to Web3 and together we can make it happen.”The Hackathon and grants program will encourage developers to explore a range of concepts and projects aligning with the “Everyday DeFi” theme, including:Greater interoperability for different blockchains built on or with Bitcoin (dApps, bridges, technical implementations)User-centric utility to achieve effective user engagement (real-world use cases, compelling DAO governance modules, data dashboards)Unlocking new functionality and liquidity for DeFi (strategic integrations of marketplaces, dApps, DEXes, aggregators, wallets, on/off ramps, oracles)Developer Hackathon Bounties for Rootstock infrastructure & tooling (enhancing the foundational tools and resources for sustainable ecosystems, e.g. compiler support, SDKs, libraries, node-as-a-service, merge mining, rollups, etc.)The Bitcoin Builders Conference, set for May 17th in Miami, will provide an opportunity for hands-on workshops, panel discussions with engineering leaders, and insightful industry keynotes for developers and innovators. The conference will also showcase the latest development tools for Bitcoin.IOVLabs President Daniel Fogg adds:"With the Bitcoin Builders Conference underway, I'm excited to see how developers are harnessing Bitcoin's potential to solve everyday challenges for people around the world. IOV Labs strongly believes Bitcoin sidechains like Rootstock will play a major role in bringing the first billion users to crypto. This conference is an opportunity to celebrate and share our progress so far while acknowledging there's still work to do. Every network has its sweet spot, and for Rootstock, it's all about using Bitcoin to create a more accessible and fairer financial system for all.By bringing together EVM compatibility with the unmatched security of Bitcoin, Rootstock offers developers a network that can be trusted to support the financial futures of people worldwide, no matter their economic status."Both the grants scheme and the Hackathon aim to encourage developers to build on Bitcoin by leveraging the smart contract capabilities of its Rootstock sidechain.This initiative helps to futureproof Bitcoin by enhancing its long-term value proposition and promoting sidechains for complex transactions, thereby addressing the ongoing congestion issue on the leading network.The $2.5 million grants program is fully funded by IOV Labs, which contributes to the development of Rootstock, a decentralized blockchain protocol.Rootstock use continues to grow, with close to $400m in Total Value Locked (TVL) and over 60 protocols in its ecosystem.About IOVlabsIOVlabs develops the blockchain technologies needed for a new global financial ecosystem that fosters opportunity, transparency, and trust.The organization currently contributes to the development of the Rootstock blockchain and Rootstock Infrastructure Framework (RIF).The Rootstock network is one of the more secure smart contract platforms in the world, designed to leverage Bitcoin’s unparalleled hash power while extending its capabilities.Rootstock Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment.For more information, visit the IOVLabs website.About RootstockRootstock is the world’s most secure, permissionless and censorship-resistant Bitcoin sidechain. It provides EVM-compatible smart contract functionality using Bitcoin as the native asset. Rootstock takes Bitcoin from a simple store of value and turns it into the foundations of a fully-fledged decentralised financial system.Rootstock's native token RBTC is known as "Smart Bitcoin” and lets users use their BTC to interact with a range of services on the Rootstock Bitcoin layer 2. RBTC is an exact 1:1 peg with BTC. (1 RBTC = 1 BTC) When you transfer bitcoin into Rootstock, your bitcoin is locked and the equivalent amount is released as RBTC.Rootstock is a Bitcoin sidechain that provides EVM-compatible smart contract functionality using Bitcoin as the native asset. Rootstock is the most permissionless and censorship-resistant Bitcoin sidechain. People around the world use Rootstock every day to interact with a range of DeFi protocols such as Sovryn, Tropykus and stablecoin Money on Chain.Rootstock is permissionless, and its consensus mechanism is merge-mined proof of work (PoW) with over 50% of Bitcoin's hash power currently mining Rootstock. This means that Rootstock is mined with more hash power than any other chain, except Bitcoin itself.RBTC is used as gas to pay for smart contract execution on the network, such as the transaction fee for trading Rootstock ecosystem tokens, the same way as ETH is used as gas for Ethereum. Unlike other blockchain native tokens, Rootstock is non-custodial and maintains the censorship resistance of Bitcoin.ContactDirector of Brand & CommunicationsSam GoldenIOV [email protected]

In a Reuters exclusive, Israeli authorities have revealed that, since 2021, they have seized 190 Binance accounts linked to designated terrorists. The report also cited a document released by Israel’s National Bureau for Counter Terror Financing (NBCTF) on January 12 identified two Binance accounts linked to the Islamic State (ISIS). Hamas, the ruling party currently running the conflicted zone of Gaza, was another organization identified by the NBCTF to have received funds through Binance. At the time of writing, however, no further information was provided on the precise amount of crypto seized (and which specific cryptocurrencies were involved) and how they were able to find out the accounts’ links to ISIS. Last December 2022, Israeli Defense Minister Benny Gantz revealed a court ruling approving the Israeli government’s seizure of “any and all cryptocurrency assets from digital wallets that have funded terrorism”. This enables the Israeli government to confiscate all assets in a wallet, even those deemed not directly used to fund ‘terrorist activities.’ The NBCTF subsequently tagged three Gaza-based firms for their links to Hamas and shut down 80 Binance accounts linked to them. The Reuters report also homes in on Binance itself. Binance has been facing a tough start for 2023, most notably its arm in the United States, a known close ally of Israel. The US Commodity Futures Trading Commission (CFTC) has sued the exchange, along with its CEO Changpeng Zhao and former compliance chief Samuel Lim, last March for “wilful evasion” of commodities laws. The CFTC’s complaint highlighted how Binance executives knew about illegal dealings in the exchange, particularly Hamas’ dealings and how the exchange even provided users information on how to use VPNs in order to access Binance. Zhao immediately responded to the CFTC’s complaint, calling it “an incomplete recitation of facts.” Binance itself has emphasized its willingness to comply with the U.S. government’s regulations and to their requests for information. This debacle puts the spotlight to the discourse on regulation as well as its urgent geopolitical implications. While money-laundering and criminal activity are important issues that have to be addressed as crypto grows, the line becomes (or should become) thin on questions of geopolitics, especially in the context of Israel. The gradual displacement of Palestinians, often through the use of force, has been a highly-contentious issue ever since the State of Israel was established in 1948. Hamas has emerged as one of the main organizations fighting for Palestinian nationalism, which would explain the terrorist tag by the Israeli government. This development shows how crypto exchanges and global crypto regulation play a crucial part in the ongoing conflict and thus, their roles, especially in terms of regulation, have to be carefully thought through. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

According to my meticulous calculations, we are about 3,542 to-be-mined Bitcoin blocks away from the lifting of the red, velvet curtain at the Crypto movie premiere on 12 April. That means approximately 44,280 Bitcoin will be rewarded between now and the premiere, and at current market prices, that cryptocurrency cornucopia could be worth some USD 175.3 million – a not-so-paltry sum that would actually be a nice global box office rake for this fintech flick. Lionsgate Home Entertainment might agree with me. You see, a closer examination of Crypto’s production team reveals that Lionsgate is the big name distributing the movie to US theatres. Yes – that Lionsgate! With thematic thespian thrillers including American Psycho, Crash, The Bank Job, Divergent, and Robin Hood as titles in their hallowed Hollywood history, Crypto could logically be the next blockbuster-to-be in that series. Perhaps Patrick Bateman checks his digital wallet every morning after doing 1,000 crunches, or maybe Jason Statham’s Terry Leather character is now drilling into safety deposit boxes looking for crypto enthusiasts’ 24 seed words. It’s a damn good thing US Treasury Secretary Steven Mnuchin occupies his present position in a building adjacent to Donald Trump’s White House. In a not-so-distant past, Mnuchin founded Dune Entertainment which financed the X-Men franchise and Avatar. He also served as Executive Producer of The Lego Movie, American Sniper, Entourage, and Wonder Woman, among many notable others. Had he not taken the road less taken, Mnuchin could be the one producing Crypto, rather than advocating cryptocurrency regulations at the Group of Twenty. The irony is almost too thick to contemplate and appreciate. While we’re on the subject of the glowing New Yorker who inhabits the building next to Mnuchin’s office, is it my imagination or does the 2-minute, 17-seconds trailer for Crypto resemble certain aspects of the slow motion train crash-of-a-movie at 1600 Pennsylvania Avenue that the entire world is tuned into every day? Let’s start with the obvious and see what we can easily glean from this trailer. In the opening scene of the trailer, Kurt Russell – looking like a withered scarecrow – solicits help in a farm field from a sharply-dressed mystery man with a lipworm who seconds later appears to be sitting behind a monitor and evaluating an ICO called Delta Coin. Incidentally, a quick review of Etherscan suggests there actually is a token called Delta Coin with a total supply of 5,000,000,000 DTC that is held by a mere six addresses. With the most recent transaction some 176 days ago, we may have to wait for the full movie to learn if the token was created for the movie. Alas, I digress. We soon learn that the Wall Street wunderkind was at the top of his class at – ahem – Wharton, before engaging in crypto due diligence and that Mr Lipworm prevented his firm from transacting business with a large counterparty, leading to pre-release speculation that Mr Lipworm might be infiltrating financial institutions as an undercover investigator. Moments later, our protagonist gets reassigned to a role in Albany, New York, that oft-forgotten, upstate New York micropolitan-of-a-state-capital where BitLicense was created by the New York State Department of Financial Services, much to the recent satisfaction of Robinhood Crypto and Libertyx. Donald Trump’s ongoing feud with policymakers in Albany and prosecutors in the Southern District of New York is not lost upon those of us on the other side of the Atlantic Ocean either. We soon learn that Mr Lipworm is indeed an Anti-Money Laundering Officer and after bro-hugging it out with a childhood friend, Mr Lipworm is next browsing a digital wallet where he encounters USD 10,463,502 million(!!!) in cryptocurrency. Assuming principal photography for Crypto took place in 2018, many of us might consider USD 10 million to be a slow week of ICO deal-making, practically a blip on the radar that even the flimsiest of unicorns-to-be or tenbaggers could relegate to “Chump Change” in the Use of Proceeds sections of their white papers. My, how times have changed! Mr Lipworm next apprises his AMLO apprentice that there is – gasp – no KYC or AML associated with the digital wallet they are scrutinising. A few bad Brooklyn accents later (is there such as thing as a good Brooklyn accent?), our hero is video conferencing with the Office of Foreign Assets Control and informing them of a “serious problem” involving money laundering by the Russian mafia. While we don’t see the action in the short clip, it is quite possible that the agent on the other end of the video conference marched right into Mnuchin’s Treasury office and informed our resident movie buff-cum-Treasury Secretary that Russia was evading US sanctions – in Albany, New York of all places. Crypto’s trailer doesn’t reveal whether the laundered money was to be used to purchase a penthouse in Trump’s scuttled Trump Tower Moscow project. In life-imitating-art creative liberty, many readers and viewers may be hoping that Special Counsel Robert Mueller’s investigation might arrive at that exact conclusion. Again, I digress. A couple of hayseeds soon find a napkin with a threatening note about an upcoming meeting and are forewarned that “COPS = RIP.” We can only guess that the good law enforcement agents of New York State are not loading up on XRP (Ripple) in their public pensions. Some sort of kidnapping – it’s a bit unclear if Kurt Russell himself is being used as cryptobait – soon transpires and we next see a couple of gangsters working their magic on someone’s neck with a stun gun. Whilst we do not hear their accents in the trailer, the credits to the movie list an Olga N. Bogdanova as a Russian dialect coach, so one can only assume that Mr Goldie Hawn was jacked from his upstate farm and shanghaied to Grozny or Siberia – or maybe that was Poughkeepsie. A few opaque plot twists later do little to reveal the denouement, so we can wrap this trailer analysis without a spoiler alert. Back when Donald Trump was just getting started in giving New York City’s skyline a facelift, Gordon Gekko taught us that “Greed is Good.” A bit underwhelming by comparison Crypto’s tagline is that “Fear is the Ultimate Currency.” The motion picture’s rating forewarns us that there are violence, sexuality, and drug use. Naturally there is! How else could a cryptocurrency trader make it through a 7-day trading week without some fisticuffs, a gratuitous orgy or three, and some booger sugar? While we likely won’t see cameos by Don Jr, Ivanka, or Kushner, Trumpgate may not be too far from moviegoers’ minds at times. Maybe Mr Lipworm is the OFAC stable pony who manages to find collusion with the Russians after all. Let’s just hope Goldie remembers where Kurt keeps his seed words.