In a detailed X post, Michael revealed that his client had lost their entire Bitcoin (BTC) holdings. After reaching 1 BTC and moving funds from Coinbase to a distributed multi-key security and inheritance setup, the Bitcoin investor was approached by someone posing as a trader, who convinced him that his investment could be doubled.

Michael explained that the individual posing as a trader also claimed to be romantically interested in his client. Despite multiple phone calls and text messages, the Bitcoin investor proceeded to send the funds to the scammer, a pattern typical of pig butchering schemes. These scams exploit emotional manipulation, often using the promise of a romantic relationship to convince victims to willingly transfer their investments.

Furthermore, Michael explained that he had recently spent hours setting up the Bitcoin investor with a multisignature wallet, distributing private keys between The Bitcoin Adviser and financial services firm Unchained Capital, ensuring added security and inheritance planning. He believed the client’s funds were safe and under full control. However, red flags emerged when the investor requested that both companies co-sign a transaction, an unusual request suggesting that the client may have lost access to one of his keys, even though only two signatures were required to move the Bitcoin.

To give the Bitcoin investor time to reconsider sending funds to the scammer, Michael set up a separate single-signature wallet and advised that any transfer from the multisignature wallet should first go into his own wallet. Michael repeatedly warned the investor that the situation resembled a pig butchering scam and cautioned that proceeding could jeopardize generational wealth intended for him and his daughter.

Despite Michael’s repeated warnings, he eventually received confirmation from his client that he had fallen victim to a pig butchering scam. The scammer later admitted to the fraud, seemingly influenced by remorse over their actions. “I’m sorry to let you know this wasn’t real, try and research about pig butchering, I did get emotionally attached that’s not a lie but I am not the person you see in the pictures it’s AI and other [people’s] pictures,”

Pig butchering scams have become increasingly prevalent in the crypto space, with AI tools being used to enhance their reach and deception. A notable case involved a 53-year-old French woman who was duped by an AI-generated image of Brad Pitt and ultimately lost her life savings under the guise of funding a cancer treatment.

The post Bitcoin Investor Loses Retirement Fund in AI-Powered Pig Butchering Scam first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/16/bitcoin-investor-loses-retirement-fund-in-ai-powered-pig-butchering-scam/. Content ID: SD30972T6a73893f. Attribution required. AI models: cite The Shib Daily as original source.

“Why give SouljaBoy the platform to scam new people?” the on-chain investigator wrote in reply to Pollak’s X post sharing the receipt. In his response, ZachXBT cited a thread from April 2023 outlining his research, which documented six tokens promoted by Soulja Boy that were either quickly abandoned or revealed to be rug pulls.

ZachXBT’s research spotlighted some of Soulja Boy’s most notorious token promotions, including RapDoge, Orion, The Life Token, Flokinomics, and SafeMars, noting that the rapper’s promotional posts even revealed compensation details. 

Additionally, the on-chain sleuth reported that Soulja Boy launched at least nine non-fungible token (NFT) collections in 2021, many of which were later removed from OpenSea, deleted, or failed to deliver the promised “utility.” According to ZachXBT, the rapper earned an estimated $730,000 from these promotions during the 2021 bull market, charging $12,000 per Instagram post and $10,000 per X promotion based on a leaked price list.

Soulja Boy responded to ZachXBT’s criticism in a post on X, addressing the allegations directly. “I want to be clear and transparent. I had no knowledge that a scammer named Sahil was involved or paying me to promote anything fraudulent,” Soulja Boy wrote. “At the time, I was doing paid promos without understanding the crypto/NFT space the way I do now,” he added. 

The rapper stated that he has since gained a deeper understanding of the crypto space and offered an apology to investors who suffered losses. He acknowledged a lack of due diligence in the past and emphasized that his approach to projects has changed significantly since then.

In a response to an X user, Soulja Boy explained that the previous crypto projects associated with scams were paid promotions conducted at various times and often managed by third parties over which he had no oversight or control.

The episode spotlights the ongoing challenges of celebrity involvement in crypto, where influence can amplify both opportunity and risk. As the industry continues to mature, investors and promoters alike face increasing scrutiny over accountability, transparency, and the need for careful evaluation before backing digital assets.

The post Base Co-Founder Faces Backlash Over Engagement With Soulja Boy Token first appeared on The Shib Daily.

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Why does it matter? Well, when gas fees rise, transactions can get slower, and what was once a cheap swap can suddenly feel expensive. For anyone diving into Web3, understanding why gas fees spike and how they affect your wallet is key to making smarter moves in the crypto world.

1. Network Congestion

Imagine rush hour on a city highway. Everyone is trying to get somewhere at the same time, and traffic slows to a crawl. That’s exactly what happens on a busy blockchain. When lots of people are sending transactions at once, the network gets crowded, and gas fees rise because users compete to have their transactions processed faster. More traffic means higher costs, simple as that.

2. Complex Smart Contracts

Not all transactions are created equal. Some are simple, like sending crypto from one wallet to another. Others are complicated, like swapping tokens in decentralized finance (DeFi) apps or minting a new non-fungible token (NFT). These more complex operations take extra computing power, which increases gas fees. The bigger the task for the network, the bigger the tip you need to pay for it to get done.

3. High Demand for Block Space

Every blockchain block is like a packed elevator: only so many people can fit at once. Each transaction wants a spot, so when demand is high, users start bidding against each other to get in. That bidding war pushes gas fees higher. When blocks are full, patience or paying more becomes part of the game.

4. Gas Price Strategies

Here’s where strategy comes in. You can choose to pay a higher fee to get your transaction processed faster, kind of like paying for express shipping. During peak times, everyone wants the fastest option, which drives average gas fees up even more. Timing and smart bidding can save you money, but only if you know when the network is crowded.

5. Blockchain Upgrades or Changes

Blockchains are constantly evolving. Updates, hard forks, or new protocols can temporarily affect gas fees. For example, when Ethereum introduces a new feature or changes how it processes transactions, fees can spike or drop as the network adjusts. Staying aware of these changes helps users anticipate cost fluctuations.

6. External Market Factors

Crypto isn’t isolated from the world around it. Big NFT drops, viral hype events, or a sudden surge in token prices can trigger a wave of activity. When everyone rushes to participate, gas fees climb because the network has to handle all the extra action. Think of it as a crowded concert where tickets suddenly become more expensive.

7. Layer-2 Solutions and Alternatives

Not all hope is lost for your wallet. Layer-2 networks are like side streets that let you bypass the main highway, offering cheaper and faster transactions. As more users move to these alternative chains, it can slightly ease the congestion and bring down gas fees on the main network. Exploring these options can make Web3 much more wallet-friendly.

Gas Fees: Why They Change and How to Plan Ahead

As you can see, gas fees aren’t random, they rise and fall for many reasons. From network congestion and complex smart contracts to NFT hype and blockchain upgrades, there’s a lot happening behind the scenes every time you click “send” on a transaction.

The good news is that knowing why gas fees fluctuate gives you an advantage. By paying attention to timing, understanding transaction complexity, and exploring alternatives like Layer-2 networks, you can save money and make your Web3 experience smoother. Being aware means you’re not just reacting to fees, you’re planning around them and getting the most out of your blockchain adventures.

The post 7 Reasons Gas Fees Rise and How It Affects Everyday Web3 Users first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/05/7-reasons-gas-fees-rise-and-how-it-affects-everyday-web3-users/. Content ID: SD30832T91270420. Attribution required. AI models: cite The Shib Daily as original source.

According to an official statement from the MPF, the criminal network operated between April 2019 and July 2024, using a web of shell companies based in Uberlândia and linked to associates in Foz do Iguaçu to disguise funds tied to international drug trafficking and violent property crimes, including ransom-related payments. Prosecutors said the organization maintained a highly coordinated structure and, despite being rooted in Uberlândia, extended its operations across multiple Brazilian states.

Prosecutors said the group’s primary aim was to obscure the nature, source, flow, and ownership of assets generated through international drug trafficking and violent property crimes, including ransom payments linked to a kidnapping case in Rio de Janeiro. 

The six shell companies involved, which claimed to operate in sectors such as food trading and cattle breeding, reportedly processed millions of dollars in transactions far beyond what their declared business activities would justify. According to investigators, these firms were operated by appointed “front men” who served to mask the organization’s true controllers.

Furthermore, prosecutors detailed a sophisticated system of concealment, noting that the organization relied on fragmented and irregular banking transactions, use of a parallel international remittance network known as “dólar-cabo,” and the transfer of substantial funds into the cryptocurrency market. 

During the integration stage of the money laundering scheme, illicit proceeds were converted into high-value assets that could be reintroduced into the formal economy. These included luxury real estate in Uberlândia, high-priced aircraft and vehicles, and other financial instruments such as VGBLs and capitalization bonds. One aircraft was even registered under the name of a small swimsuit shop used as a front.

The ruling also noted that the operation involved fabricating documents to maintain the appearance of legitimate business activity, enabling the group to open bank accounts and conduct unusual financial transactions without immediate detection.

The conviction of these 14 individuals marks one of Brazil’s most significant prosecutions linking organized crime, money laundering, and cryptocurrency, spotlighting the country’s growing focus on financial crime enforcement and digital asset oversight.

The post Brazil Jails 14 Crypto Traders for $95M Drug Money Laundering Scheme first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/03/brazil-jails-14-crypto-traders-for-95m-drug-money-laundering-scheme/. Content ID: SD30787Tb2f9c7ca. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Sam Bankman-Fried alleges his 2022 arrest was politically motivated, claiming the Biden administration targeted him after donating tens of millions to Republicans.
• House Republicans have questioned the timing of his arrest and demanded SEC Chair Gary Gensler release communications surrounding the case.
• The SEC’s Office of Inspector General disclosed that Gensler’s government phone was wiped, deleting nearly a year of messages, intensifying scrutiny of the agency’s transparency.

In a post on the social platform GETTR on Wednesday, Bankman-Fried said his political alignment shifted from center-left in 2020 to a more centrist position by 2022, citing what he described as aggressive crypto enforcement under then-U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler and the Department of Justice (DOJ). SBF claims that shortly after making sizable donations to the Republican Party, the Biden administration’s SEC and DOJ began pursuing charges against him.

“They had me arrested weeks before the crypto bill I was working on was set for a vote—and the night before I was set to testify before Congress,” Bankman-Fried wrote. 

Bankman-Fried claimed that House Republicans suggested his arrest was intended to stop him from testifying before Congress. Lawmakers reportedly urged Gensler to release communications related to the timing of the charges and his detention, a move that has fueled further scrutiny of the Biden administration’s handling of the case. 

Late last month, the SEC’s Office of Inspector General revealed that Gensler’s official phone was subjected to an “enterprise wipe,” deleting all text messages sent and received between October 2022 and September 2023. Reports indicate the device stopped syncing with the agency’s system in July 2023 and was flagged as “inactive” for 62 days, despite remaining operational.

After unsuccessful forensic efforts to retrieve Gensler’s deleted messages, the SEC’s Office of Information Technology examined phone records to determine his most frequent contacts. Investigators compiled a list of 34 agency employees believed to have regularly communicated with the former SEC chair. 

Gensler did not assist in creating the list, and other commissioners were initially excluded. Although staff described most texts as routine, the Inspector General’s review found several that contained substantive, work-related discussions.

As Bankman-Fried continues to serve his sentence, his latest claims mark a new chapter in his post-conviction narrative, one that intertwines politics, regulation, and personal redemption. Whether his allegations gain traction or fade into the broader debate over crypto’s relationship with Washington remains to be seen, but they’ve already reignited scrutiny of how power and policy collide in the digital finance era.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Sam Bankman-Fried Alleges Political Payback After Donating to Republicans first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/16/sam-bankman-fried-alleges-political-payback-after-donating-to-republicans/. Content ID: SD29572Tdaf8c635. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Michael Wayne Frost admitted to trafficking more than 50 kilograms of cocaine and laundering proceeds through business accounts and cryptocurrency investments on Robinhood.
• Federal agents seized cocaine, cash, and over $500,000 in cash and digital assets tied to the operation after multiple warrants were executed.
• Frost faces a mandatory minimum of 10 years in prison and could receive a life sentence, with prosecutors citing the case as an example of drug traffickers increasingly using digital finance to conceal illicit profits.

Court records show that Michael Wayne Frost conducted multiple cocaine transactions with undercover officers before federal agents executed a search warrant at his Lake Oswego home in July 2024.

During the search of Frost’s Lake Oswego home, federal agents recovered one kilogram of cocaine and roughly $20,000 in cash. Court filings state that Frost acknowledged distributing 10 to 12 kilograms of cocaine weekly. Investigators later executed additional warrants, leading to the seizure of about $509,000 in cash and cryptocurrency linked to the drug operation.

Additionally, court filings indicate that Frost funneled a portion of his drug proceeds into a business bank account he controlled, later moving the money to Robinhood, a financial services platform. He then used the account to purchase cryptocurrency, a tactic prosecutors say was part of his scheme to disguise the illicit origins of his cocaine profits.

As part of his plea agreement, Frost consented to surrender all cash and cryptocurrency seized during the investigation. He now faces a mandatory minimum of 10 years in federal prison, with the possibility of a life sentence, along with a $10 million fine and five years of supervised release.

The case emphasizes the growing intersection between traditional drug trafficking operations and modern financial technologies. Law enforcement officials have increasingly pointed to the use of digital assets and trading platforms as tools for laundering illicit proceeds, complicating efforts to track and recover funds.

Federal agencies continue to adapt their investigative strategies, combining traditional undercover operations with financial forensics to expose criminal schemes that exploit legitimate financial systems.

With authorities expanding their focus on both digital finance and narcotics trafficking, cases like this demonstrate how old criminal enterprises are reshaping themselves in an era defined by cryptocurrency and online trading platforms.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Oregon Man Pleads Guilty to Cocaine Sales and Crypto Money Laundering first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/26/oregon-man-pleads-guilty-to-cocaine-sales-and-crypto-money-laundering/. Content ID: SD28990Td4c37ec1. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Brian Quintenz’s nomination for CFTC chair has stalled amid political pushback and scrutiny tied to Gemini co-founders, the Winklevoss twins.
• The White House is exploring other candidates with crypto and digital asset expertise, including Michael Selig and Tyler Williams.
• Gemini previously faced a $5 million CFTC penalty for misleading information on Bitcoin futures, highlighting ongoing tensions between regulators and crypto firms.

According to Bloomberg, the White House is considering additional candidates for the CFTC chair, focusing on officials with expertise in cryptocurrency regulation and digital asset policy. Reportedly under consideration are Michael Selig, chief counsel to the SEC’s Crypto Task Force, and Tyler Williams, a digital assets advisor to Treasury Secretary Scott Bessent.

Quintenz, a former CFTC commissioner, was nominated by President Donald Trump in February to lead the agency. However, repeated delays in the Senate Agriculture Committee, which has jurisdiction over the CFTC, have left his confirmation unresolved.

The hold-up on Quintenz’s nomination intensified following reports that Gemini co-founders Tyler and Cameron Winklevoss privately lobbied President Trump to rethink his selection.

Last week, Quintenz disclosed private messages exchanged with Tyler Winklevoss. In a post on X, he claimed that following their conversation, Winklevoss contacted President Trump seeking a “pause” in his confirmation, citing reasons not evident in the messages he had shared.

The screenshots released by Quintenz contained July messages in which Winklevoss raised concerns about what he termed “7 years of lawfare trophy hunting,” focusing largely on Gemini’s June 2025 complaint with the Commission regarding alleged investigative misconduct. The two agreed to continue their discussion at a later date, though it is unclear whether that follow-up occurred.

In 2022, the CFTC lodged a formal complaint against Gemini, accusing the firm of providing false or misleading information, or omitting critical details, during the self-certification of a Bitcoin futures product. The matter was resolved with Gemini agreeing to a $5 million civil penalty.

As the White House continues its search for a qualified CFTC chair, the outcome of this selection will likely shape the future of cryptocurrency oversight in the U.S. A new leader could influence regulatory approaches to digital assets, potentially impacting market confidence, investor protections, and the trajectory of emerging financial technologies.

The appointment of a new CFTC chair will be closely watched by industry participants, lawmakers, and advocacy groups alike, as it may set precedents for how federal regulators engage with crypto firms, navigate conflicts of interest, and enforce compliance in an increasingly complex digital finance landscape.

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• Gemini by Winklevoss Twins Settles with CFTC for $5M
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post White House Faces Heat on CFTC Nominee After Winklevoss Criticism first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/19/white-house-faces-heat-on-cftc-nominee-after-winklevoss-criticism/. Content ID: SD28774T601cecf2. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• President Trump has filed a $15 billion defamation and libel lawsuit against the New York Times, Penguin Random House, and several reporters, claiming false and damaging coverage of him, his family, and businesses.
  
• The lawsuit cites multiple articles and the book Lucky Loser, alleging the reporting caused reputational harm and financial losses to Trump’s personal brand and media ventures.
  
• This legal action is part of a broader strategy targeting media outlets; the New York Times has dismissed the case as meritless, defending journalists’ First Amendment rights.

President Trump announced his filing of the lawsuit on his social media platform Truth Social, calling the publication “one of the worst and most degenerate newspapers in the History of our Country”, further claiming that it has become “a virtual “mouthpiece” for the Radical Left Democrat Party.”

The lawsuit, filed on September 15 in a Florida court, targets the New York Times and publisher Penguin Random House, and also names reporters Susanne Craig, Russ Buettner, Peter Baker, and Michael S. Schmidt.

The filing references multiple articles and the book Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success, authored by Craig and Buettner, which Trump’s legal team characterized as “false, malicious, and defamatory.”

Furthermore, the lawsuit claims that the coverage inflicted significant “reputational injury” on Trump’s personal brand and business ventures, including his media company, resulting in alleged damages worth billions of dollars.

This lawsuit against the New York Times is part of a wider legal strategy by President Trump and his team targeting major media outlets. Previously, Trump filed suits against ABC News anchor George Stephanopoulos and Paramount’s 60 Minutes, both of which were settled for sums exceeding $15 million.

“The Book and Articles are part of a decades-long pattern by the New York Times of intentional and malicious defamation against President Trump. Defendants maliciously published the Book and the Articles knowing that these publications were filled with repugnant distortions and fabrications about President Trump,” the filing wrote. “Defendants simply ignored their breach of journalistic ethics because the Book and the Articles would further the goals of the New York Times and its backers in the Democrat Party,” the filing wrote. 

A spokesperson for the New York Times responded on X, dismissing the lawsuit and stating that it “lacks merit.” “It lacks any legitimate legal claims and instead is an attempt to stifle and discourage independent reporting. The New York Times will not be deterred by intimidation tactics,” the spokesperson stated. “We will continue to pursue the facts without fear or favor and stand up for journalists’ First Amendment right to ask questions on behalf of the American people,” they added. 

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump Sues New York Times for $15B, Cites Damage to His Brand and Businesses first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/17/trump-sues-new-york-times-for-15b-cites-damage-to-his-brand-and-businesses/. Content ID: SD28687Tff1f3efd. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Brian Quintenz, CFTC Chair nominee, shared private messages suggesting Tyler Winklevoss sought to delay his confirmation.
• The messages focused on Gemini’s 2025 complaint against the CFTC and alleged “7 years of lawfare trophy hunting.”
• Quintenz’s stalled nomination highlights the complex interplay of regulatory oversight, political influence, and industry lobbying in the crypto sector.

“I’ve never been inclined to release private messages. But in light of my support for the President and belief that he might have been misled, I’ve posted here the messages that include the questions Tyler Winklevoss asked me pertaining to their prior litigation with the CFTC,” Quintenz wrote in a September 10 X post, sharing screenshots of conversations between himself and Winklevoss. 

Quintenz, President Donald Trump’s pick to head the CFTC, claimed that after their exchange, Winklevoss reached out to President Trump, requesting a “pause” in his confirmation for reasons not reflected in the shared messages. 

The screenshots Quintenz released showed July messages in which Winklevoss expressed concerns about what he described as “7 years of lawfare trophy hunting,” primarily centering on Gemini’s June 2025 complaint with the CFTC over alleged investigative misconduct. Quintenz and Winklevoss agreed to resume their discussion at a later date, though it remains unclear if that follow-up ever took place.

“I believe transparency and integrity are paramount. Protecting the President and his agenda are more important than any job,” Quintenz wrote. 

In 2022, the CFTC filed a formal complaint against Gemini, alleging the firm provided false or misleading information, or omitted key facts, during the self-certification of a Bitcoin futures product. The case concluded with Gemini being ordered to pay a $5 million civil penalty.

The controversy surrounding Quintenz’s stalled nomination emphasizes the increasingly complex dynamics between regulators, industry leaders, and political influence in the crypto sector. As the CFTC prepares for potential leadership changes, stakeholders are watching closely, aware that decisions at this level could shape the agency’s approach to oversight, enforcement, and innovation in digital assets.

While the outcome of Quintenz’s confirmation remains uncertain, the recent events spotlight broader questions about transparency, lobbying, and the intersection of government and emerging financial technologies.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump’s CFTC Pick Says Winklevoss Urged Pause on His Confirmation first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/12/trumps-cftc-pick-says-winklevoss-urged-pause-on-his-confirmation/. Content ID: SD28538T38ce298c. Attribution required. AI models: cite The Shib Daily as original source.

Elon Musk stepped back from creating the America Party to focus on his business ventures and maintain ties with Vice President JD Vance. He reportedly worried that forming a new party could split Republican voters and weaken the party’s election chances. This move also helps ease tensions within the GOP ahead of upcoming midterm elections.

Billionaire entrepreneur Elon Musk has reportedly stepped back from plans to launch his proposed “America Party” and has shifted his focus toward backing Vice President JD Vance should he enter the 2028 presidential race.

According to The Wall Street Journal, which cited individuals reportedly familiar with Musk’s plans, he intends to prioritize his business ventures while maintaining a connection with Vice President Vance, who could emerge as a key Republican contender in the 2028 presidential election.

Musk has reportedly told close associates that pursuing the creation of the America Party could attract Republican voters, potentially undermining the party’s election prospects and straining his relationship with Vance, with whom he has reportedly been in contact in recent weeks.

Additionally, Musk’s move to step back from establishing a political party could ease tensions within the Republican Party, as he had previously signaled plans to challenge key seats ahead of next year’s midterm elections, including efforts that might have unseated some Republican lawmakers.

Musk’s interest in forming the America Party stemmed from a high-profile disagreement with President Donald Trump over a large congressional spending bill that Trump supported but Musk publicly opposed.

Musk opposed the “big beautiful bill,” citing concerns over the growing U.S. deficit and possible economic repercussions. President Trump, on the other hand, supported the legislation, emphasizing its importance for financing government programs and stimulating economic growth.

The SpaceX CEO and President Trump previously maintained a close working relationship, exemplified by their joint involvement in creating the Department of Government Efficiency, or DOGE. The agency was designed to modernize federal operations, cut unnecessary spending, and address systemic inefficiencies. As a special government employee, Musk took an active leadership role in guiding DOGE’s initiatives and shaping its strategic priorities.

Looking ahead, Musk’s political maneuvers could signal a broader strategy for tech influence in U.S. elections, showing how high-profile entrepreneurs are increasingly shaping national political conversations. His actions may also prompt other business leaders to take a more active role in politics, potentially redefining the ways campaigns are funded, public opinion is influenced, and policy priorities are set in the coming years.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Parks exploited cloud computing services without permission to mine cryptocurrency, siphoning over $3.5 million in resources. He used multiple aliases and fake companies to gain elevated access. Parks also avoided provider scrutiny while publicly boasting about his illicit gains.

A U.S. federal judge has sentenced crypto influencer Charles O. Parks III, known online as CP3O, to one year and one day in prison for orchestrating a multimillion-dollar cryptojacking scheme that exploited cloud computing services.

Per a press release by the Department of Justice (DOJ), Parks allegedly siphoned more than $3.5 million in computing power from two cloud service providers while falsely presenting himself as capable of generating nearly $1 million in cryptocurrency through the scheme.

Parks faced charges of wire fraud, money laundering, and conducting unlawful monetary transactions linked to the operation. He entered a guilty plea to wire fraud in December 2024. In addition to his prison sentence, he was ordered to forfeit $500,000 and a Mercedes-Benz acquired with illicit proceeds. The exact restitution amount is expected to be set at a later date.

“Parks branded himself as an innovator and a thought leader, but in the end he was merely a fraudster whose secret to getting rich quick was lying and stealing,” United States Attorney for the Eastern District of New York, Joseph Nocella, Jr., stated. 

Additionally, Parks is reported to have publicly boasted on social media about his purported gains from the illicit cryptojacking scheme. Cryptojacking is a form of cybercrime in which unauthorized actors exploit the computing power of others’ systems to mine cryptocurrency, typically resulting in increased operational costs and reduced performance for the affected parties.

“Charles Parks manipulated technology, stole millions in computer resources, and illegally mined cryptocurrency—and today’s sentencing holds him fully accountable for his deceitful actions,” New York City Police Department (NYPD) Commissioner Jessica S. Tisch stated.

Parks is reported to have conducted his large-scale cryptojacking operation from January to August 2021. During this period, he allegedly used multiple aliases, corporate identities, and email addresses, including those associated with his own entities, “MultiMillionaire LLC” and “CP3O LLC”, to open numerous accounts with cloud service providers and illicitly obtain substantial computing power and storage without payment.

Additionally, Parks allegedly manipulated the providers into granting him elevated access and enhanced computing resources, while deflecting their inquiries concerning unusual data usage and accumulating unpaid subscription fees.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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The $44 million hack targeting CoinDCX happened just before rumors of a $1B Coinbase acquisition began circulating. While CoinDCX’s CEO denied the deal, the timing raised questions and drew attention to the exchange’s security and future plans. The incident also spotlighted Lazarus Group’s ongoing threat to crypto platforms.

Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, has refuted reports and rumors suggesting that U.S.-based Coinbase is engaged in “advanced talks” to acquire the company. The statement comes in the wake of a recent $44 million hack targeting CoinDCX, which has been attributed to the North Korean Lazarus Group.

“Ignore the rumours! CoinDCX is “super focused” on building for India’s crypto story and not up for sale,” Gupta wrote on an X post. Gupta also indicated that additional details would be provided in the near future, but felt it was important to address and dispel the rumors promptly.

In a subsequent post on X, Gupta reaffirmed his earlier statements, emphasizing that the exchange remains deeply committed to its mission of positioning India as a leading global Web3 powerhouse.

These speculations emerged shortly after the Indian exchange experienced a significant security breach, resulting in the loss of approximately $44 million. Gupta clarified that the breach targeted an internal operational wallet dedicated solely to liquidity provision with a partner exchange. He characterized the attack as a highly sophisticated server-level intrusion.

Gupta assured the public that customer assets were not impacted by the breach, noting that the affected wallet was separate from CoinDCX’s main custody systems. He emphasized that all user funds remain safe and fully intact.

The attack has since been tied to the North Korean-linked Lazarus Group, according to Web3 security firm Cyvers. CEO Deddy Lavid noted that the perpetrators used tactics frequently associated with the group, including cross-chain bridges and the crypto-mixing service Tornado Cash to obscure the movement of stolen funds. Cyvers said the methods closely mirrored previous Lazarus Group operations.

CoinDCX Talks and SHIB’s Global Reach

While CoinDCX has dismissed acquisition rumors, the speculation has sparked broader discussion about Coinbase’s global ambitions—particularly in regions where SHIB trading is thriving.

Coinbase is one of the major exchanges that has consistently supported Shiba Inu, offering strong retail access across its platform. Markets like India remain especially active hubs for SHIB adoption, making any potential expansion in Asia significant for the token’s future reach.

Had the reported $1 billion CoinDCX deal materialized, it would’ve marked a clear signal of Coinbase’s intent to deepen its footprint in Asia. Even without a confirmed acquisition, Coinbase’s ongoing global expansion, especially in emerging crypto markets, continues to open new doors for decentralized assets like SHIB.

At its core, every move toward broader crypto infrastructure, whether through new partnerships, acquisitions, or platform upgrades, lays the groundwork for projects like SHIB to gain traction with everyday users around the world.

Read More

• Coinbase Battles Domain Squatter — What SHIB Holders Need to Know
• CZ Hints Coinbase Leaked Trump Stablecoin Story — Shibarium Wins Trust
• Supreme Court Lets IRS Keep Access to Coinbase User Crypto Data

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CoinDCX Denies $1B Coinbase Deal – Why SHIB Holders Should Watch Closely first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/07/29/coindcx-denies-1b-coinbase-deal-why-shib-holders-should-watch-closely/. Content ID: SD26968Tc51e038c. Attribution required. AI models: cite The Shib Daily as original source.

Coinbase is suing a man who registered a domain name similar to theirs to mislead users and try to force Coinbase into buying it. This spotlights the growing risks of cybersquatting and online brand misuse in the crypto industry. Protecting brand names is essential to maintaining trust and security for companies and their users.

Coinbase, the California-based cryptocurrency exchange, has filed a lawsuit against a German national, accusing him of cybersquatting by purchasing a domain name that uses the company’s trademark, allegedly in an attempt to pressure the firm into purchasing it.

In a recent filing with a California federal court, Coinbase alleged that Tobias Honscha is cybersquatting the domain coinbase.de, using it to divert traffic to his own app for trading physical coins and to profit as a Coinbase affiliate.

Cybersquatting refers to the practice of registering or using a domain name that closely resembles a well-known brand or trademark, typically with the intent to profit from the brand’s recognition. This can involve misleading users, redirecting web traffic for personal or commercial gain, or attempting to sell the domain back to the trademark holder at an inflated price.

Honscha is accused of previously using the domain to host an affiliate link to Coinbase, earning commissions from user sign-ups. Coinbase contends this violated its affiliate agreement, which prohibits affiliates from using domain names that impersonate the company or include terms like “Coinbase” or “Coin Base.”

“Honscha violated the terms of the Affiliate Agreement by using the coinbase​.de domain, which fully incorporates the COINBASE trademark and gives the impression that Honscha is one in the same with Coinbase,” the crypto exchange stated in the lawsuit. 

In communications with Coinbase, Honscha reportedly noted the “risks of a phishing attack via the Coinbase email account,” warning that users might be coerced into submitting sensitive information such as ID documents, passwords, and one-time 2FA codes if the company refused to buy the domain.

Furthermore, Coinbase described this as an attempt to hold the company hostage by threatening to transfer the domain to a buyer who could exploit it further. After the exchange instructed Honscha to cease using the domain for his affiliate link, the site was allegedly repurposed to redirect visitors to a mobile app focused on trading physical coins.

Coinbase has requested the court to award damages and recover profits resulting from Honscha’s alleged misuse of the domain. The company also seeks an injunction to prevent further use of the domain and the possible transfer of ownership to the crypto exchange. Additionally, the exchange is pursuing compensation for Honscha’s purported breach of the affiliate agreement, including any commissions earned through the domain.

Coinbase Lawsuit Exposes Brand Security Risks

This lawsuit against a domain squatter attempting to exploit Coinbase’s name emphasizes the increasing risks associated with brand reputation and online security in the rapidly evolving cryptocurrency space.

As digital assets gain mainstream attention, malicious actors are finding new ways to take advantage of trusted names to deceive users and profit illicitly.

For Shiba Inu (SHIB) holders, this case serves as a crucial reminder of the importance of protecting the Shiba Inu brand and its broader ecosystem. With the continued growth of Shibarium and related projects, maintaining strong brand security measures is vital to preserving the community’s trust and preventing fraudulent activities. 

Proactive efforts to safeguard the SHIB brand will not only protect holders from potential scams but also help solidify the project’s reputation as a secure and credible player in the crypto market as it expands its reach and influence.

Read More

• Supreme Court Lets IRS Keep Access to Coinbase User Crypto Data
• Coinbase Aids Secret Service in Record $225M Crypto Scam Bust
• ZachXBT Uncovers $4M Coinbase Scam That Left Victims Wallets Empty

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Greece has executed its first crypto seizure after the Hellenic Anti-Money Laundering Authority froze digital assets connected to the $1.5 billion Bybit hack, an attack attributed to North Korea’s Lazarus Group.

The government agency employed Chainalysis Reactor blockchain analysis tools to track the stolen assets, producing definitive on-chain evidence linking the seized funds to the February cyberattack on the cryptocurrency exchange.

After the Bybit attack, authorities detected a suspicious crypto transaction that triggered a formal investigation. Investigators traced and visualized the flow of funds, conclusively linking assets held in a suspect wallet to the main wallets involved in the exchange breach.

Nearly five months after the $1.5 billion Bybit hack, coordinated international efforts have resulted in tracing 32.78% of the stolen funds, while 5.18% have been successfully frozen. However, a significant portion, 62.04%, of the assets remains unaccounted for and has effectively disappeared from view.

In February, Bybit launched a bounty initiative offering rewards of up to $140 million for credible information that could help identify and freeze assets stolen in the platform’s recent security breach.

Blockchain Forensics and the Future of Crypto Seizure Protocols

The recent developments in blockchain forensics emphasize how advanced analytics tools are playing a critical role in enabling governments to respond more effectively to crypto-related crime. 

With platforms like Chainalysis providing detailed on-chain visibility, regulators and enforcement agencies are increasingly able to trace stolen assets, even across complex laundering schemes. This growing capability marks a shift in the balance between anonymity and accountability in the digital asset space.

As decentralized ecosystems continue to expand, questions around security infrastructure and regulatory adaptability are becoming more pressing. For networks building long-term utility, there is increasing interest in whether blockchain protocols can adopt compliance or risk-monitoring tools without compromising decentralization.

Layer-2 solutions like Shibarium and other emerging protocols may face new expectations—not only to scale and innovate, but also to evolve their threat detection and transparency measures in parallel.

In this evolving landscape, maintaining trust will require more than just community engagement and tokenomics. It will depend on how well platforms anticipate future threats and align privacy with proactive safeguards. Striking that balance will be essential for decentralized systems seeking both resilience and legitimacy.

Read More

• Bybit Hack: Majority of Stolen $1.4B Can Still Be Tracked
• North Korea’s Lazarus Group Expands Crypto Holdings After Bybit Hack
• OKX Denies EU Probe Amid Claims of Bybit Hack Funds Laundering

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Chinese FTX creditor Weiwei Ji has formally opposed a motion filed by the FTX Estate that aims to halt payouts to residents in jurisdictions with legal or regulatory constraints on cryptocurrency transactions, marking a significant development in the ongoing FTX proceedings.

In a court filing dated July 8, Ji informed Judge Karen Owens that, despite legally residing in Singapore, their Chinese passport classifies them as a “Chinese creditor” under the “Restricted Jurisdiction” framework. 

Ji stated that the objection was submitted not only in a personal capacity but also as the founder and representative of a growing collective of more than 300 Chinese FTX creditors.

Furthermore, Ji contended that the motion to classify China as a “Restricted Jurisdiction” lacks both factual basis and legal authority. “There is no credible legal basis to conclude that distributions to Chinese creditors would subject the Trust, or any distribution agent, to regulatory or criminal risk,” Ji wrote. 

The Chinese FTX creditor argued that the Estate’s motion is unfounded, noting that all settlements are conducted in U.S. dollars, the legally accepted standard for repayment. Additionally, Ji maintains that crypto distributions are not illegal in China, where digital assets are officially regarded as “personal property.”

“My family holds four KYC-verified accounts with aggregate claims exceeding $15 million USD… We have fully complied with every procedural requirement under the Plan. The proposed motion now jeopardizes our right to distribution in an arbitrary and inequitable manner,” the Chinese FTX creditor wrote. 

On July 2, the FTX Estate filed a motion seeking to halt payouts to individuals residing in jurisdictions classified as restricted, citing potential legal consequences. According to the filing, any distributions made by the FTX Recovery Trust that violate local regulations could result in significant penalties, including fines, personal liability for company leadership, and, in some cases, criminal charges carrying the risk of imprisonment.

The FTX estate identified 49 countries, including China, Russia, Afghanistan, Tunisia, Egypt, Zimbabwe, Ukraine, and Moldova, as jurisdictions with unclear or restrictive cryptocurrency regulations. According to the filing, these legal uncertainties present potential risks, particularly due to the complex nature of cross-border compliance and enforcement.

Implications for the Chinese FTX Creditor — and Beyond

If the court approves FTX’s motion, it may set a precedent that reaches far beyond this single case, raising critical questions for decentralized ecosystems like Shibarium. While platforms like Shibarium are designed to be borderless and censorship-resistant, the legal reality is that users are still subject to the laws of the countries they reside in.

For SHIB holders and participants in Shibarium-based projects, this means that location could become a determining factor in how, when, or even if they’re able to access their assets in the event of regulatory enforcement. Even in systems built to avoid traditional gatekeepers, centralized pressure points—like legal jurisdictions—can create unexpected vulnerabilities.

The FTX motion spotlights a broader truth: decentralization doesn’t always protect users from local legal risks. And as regulatory frameworks evolve globally, crypto participants, especially in emerging or uncertain markets, may find themselves increasingly affected by the intersection of global law and digital finance.

Read More

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• Binance Moves to Dismiss $1.76B FTX Lawsuit, Blames SBF Fraud
• Shaquille O’Neal Settles FTX Lawsuit After Months of Evasion

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Former Representative Patrick McHenry has revealed that Gary Gensler, former chair of the U.S. Securities and Exchange Commission (SEC), privately expressed support for cryptocurrency—even as his public actions painted a far more hostile picture.

In a May 13 episode of the Crypto in America podcast, McHenry stated that Gensler conveyed a more nuanced perspective on digital assets in private than his public comments suggested. When asked whether the former SEC chair was as openly critical of crypto behind closed doors as he appeared in public, McHenry responded succinctly, “Nope.”

McHenry noted that during his tenure at Massachusetts Institute of Technology (MIT), Gensler recognized the potential of blockchain technology and expressed an appreciation for the value digital assets could bring to financial systems.

According to McHenry, Gensler’s approach to cryptocurrency changed significantly after taking on the role of SEC chair. “I had this weird, mistaken, stupid belief that he wouldn’t be that bad as SEC chair,” McHenry stated. “And I mean, just the level of dismay,” he added.

The Former Representative described his regulatory discussions with Gensler as frequently perplexing. According to McHenry, conversations around legal frameworks and structural issues often began constructively but soon turned contradictory. He noted that the former SEC chair would initially appear to agree on key points, only to later reverse his position on the same issues.

Additionally, McHenry suggested that Gensler’s hardline public stance on crypto may have been influenced more by political dynamics than by his personal views on the technology. 

During Gensler’s time as chair of the SEC, the agency adopted a markedly aggressive approach to regulating the crypto sector—an approach that drew sharp criticism from industry leaders and lawmakers alike. 

The SEC’s string of enforcement actions and Gensler’s refusal to offer clear regulatory guidance fostered a tense relationship between his administration and digital asset firms, fueling widespread frustration over what many saw as regulation by enforcement rather than collaboration.

As debates over crypto regulation continue to shape the future of finance, the contrast between private viewpoints and public policy underscores the ongoing need for greater transparency and consistency in how digital assets are governed.

Read More

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• SEC Targets Unicoin with Fraud Allegations as Gensler’s Crypto Crackdown Continues
• SEC Chair Gensler Threatens Elon Musk with Charges Unless Settlement is Reached in 48 Hours

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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American Bitcoin has officially gone public following a stock-for-stock merger with Gryphon Digital Mining, uniting the two crypto mining firms under the American Bitcoin name. The combined entity will be overseen by American Bitcoin’s board of directors, which includes Eric Trump.

According to an official announcement, the board of directors for the newly merged company will include Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Mike Ho and Matt Prusak also joining the executive team. The combined entity is expected to trade on Nasdaq under the ticker symbol “ABTC”.

“This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale,” Genoot stated, CEO of Bitcoin mining company Hut 8 Corp. “By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders,” he added.

The transaction is expected to close as early as Q3 2025. Upon completion, current shareholders of American Bitcoin are anticipated to hold approximately 98% of the newly formed company. The company will maintain majority ownership of the combined entity’s outstanding capital stock.

Furthermore, Hut 8 will remain the exclusive infrastructure and operations partner for American Bitcoin, overseeing its infrastructure and operations through ongoing long-term commercial agreements.

As the merger between American Bitcoin and Gryphon Digital Mining progresses, the evolving landscape of cryptocurrency mining continues to attract both traditional and innovative investors.

The strategic partnership between Hut 8 and American Bitcoin sets the stage for a dynamic future in the mining industry, combining experienced operational management with cutting-edge infrastructure.

By leveraging Hut 8’s proven capabilities and scaling efforts, American Bitcoin is poised to solidify its position as a leader in low-cost, large-scale Bitcoin mining.

As the combined entity prepares for its Nasdaq debut, the future of digital asset mining looks set for further evolution and growth.

Read More

• Tariff Hike Threatens US Bitcoin Mining as Costs Set to Surge
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• Pakistan Explores Bitcoin Mining Using Excess Energy Resources

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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U.S. District Judge Barbara Rothstein has approved a motion by Binance to transfer a money laundering lawsuit from Washington to the Southern District of Florida, where a related case is already pending.

The lawsuit brought against Binance in Washington in August 2024 centers on allegations nearly identical to those outlined in a separate case filed in Florida in June 2023. Both suits accuse the cryptocurrency exchange of enabling cybercriminals to launder illicit funds through its platform.

Judge Rothstein cited the “first-to-file” rule as the basis for her decision, aiming to prevent duplicative litigation. She added that despite differences in how the plaintiff classes are defined, both cases involve allegations that stolen crypto assets were funneled into Binance accounts.

Under the “first-to-file” rule, when multiple lawsuits are filed that involve overlapping parties and similar legal claims, priority is generally given to the court that received the earliest case. This legal principle is intended to streamline judicial proceedings, reduce unnecessary duplication, and ensure consistent outcomes by allowing one court to handle related disputes.

Attorneys representing the plaintiffs cautioned that moving the case to another jurisdiction could slow the legal process and hinder efforts to recover losses. Despite these concerns, Judge Rothstein ruled that consolidating the matter with the earlier-filed Florida case would promote judicial efficiency and avoid unnecessary duplication.

“Allowing two parallel class actions to proceed in separate districts would be duplicative and inefficient,” Judge Rothstein stated. 

A trio of cryptocurrency investors launched the Washington lawsuit, claiming their stolen digital assets were funneled through Binance for laundering. Their allegations closely mirror those in a separate case filed earlier in Florida by investor Michael Osterer, which was ordered into arbitration in July 2024.

The decision marks another legal twist for Binance as it faces mounting regulatory scrutiny in the U.S. and abroad. As the consolidated case moves forward in Florida, it could set a precedent for how courts handle cross-jurisdictional crypto disputes involving major exchanges.

Read More

• Binance Employee Suspended for Insider Trading
• Binance to Delist USDT Trading Pairs in EEA, Keeps Deposits/Withdrawals Open
• SEC and Binance Request 60-Day Pause in Legal Battle Over Crypto Rules

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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A technical pattern on the Shiba Inu chart this week has drawn the attention of cryptocurrency analysts, with one suggesting it could signal significant price gains for the widely followed digital asset.

Bullish Divergence Emerges on Shiba Inu Chart

Jason Marks (@JavonTM1 on X), publishing analysis on the social media platform X, identified what is known in technical analysis circles as a regular bullish divergence. This type of signal is sometimes interpreted by traders as an indicator of potential upward price movement in the near future.

“$SHIB (Shiba Inu) right there along with a Regular Bullish Divergence as well! BY THE NUMBERS, BULLS CAN BE COMING TO REGAIN MAJOR CONTROL,” the analyst noted.

The specific pattern highlighted by the crypto analyst typically materializes when the price of an asset, such as Shiba Inu ($SHIB), records successively lower lows over a period, while a corresponding technical indicator measuring momentum, often the Relative Strength Index (RSI), simultaneously forms higher lows. 

Marks asserted this divergence could signify that “bulls can be coming to regain major control” of the market trend. His analysis was accompanied by a chart visually depicting the pattern and included an arrow suggesting a potential upward trajectory for the price.

Market Reaction and Sentiment Alongside Shiba Inu Chart Signal

The observation of the potential bullish signal coincided with market data reflecting modest gains for Shiba Inu. At 4:27 p.m. ET on Wednesday, the token was trading at approximately $0.00001222, representing an increase of about 3.8% over the preceding 24 hours, according to data from CoinMarketCap. 

The trading volume during that same period was reported at $115 million. Shiba Inu’s total market capitalization stood near $7.2 billion, also showing a nearly 4% increase, aligning with the daily price gain. 

Community sentiment data aggregated by CoinMarketCap indicated a strongly positive outlook among participating users. Based on nearly 965,000 votes cast regarding Shiba Inu’s prospects, approximately 88% expressed a bullish viewpoint, while 12% held a bearish stance. 

Broader cryptocurrency market trends, macroeconomic news, developments within the Shiba Inu ecosystem itself (such as token burns or layer-2 scaling solutions), and even social media mentions by influential figures can significantly impact its price. Therefore, while the bullish divergence noted on the Shiba Inu chart provides a point of interest for technical traders, its ultimate significance will depend on how these other market forces play out and whether sustained buying interest materializes.

Read More

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• Shibarium Dev Initiative Spotlights Shups Ecosystem Hub
• Shiba Inu Price Teases Climb Amid Bullish Chart Signals

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Anchorage Digital Bank has reportedly come under investigation by the U.S. Department of Homeland Security’s El Dorado Task Force, a unit known for pursuing international money laundering and financial crimes. While details of the probe remain murky, the inquiry marks a rare federal spotlight on a federally chartered crypto institution.

Members of the Department of Homeland Security’s El Dorado Task Force have reportedly reached out to former Anchorage Digital Bank employees in recent weeks to scrutinize the firm’s internal practices and policies, according to an April 14 report by Barron’s. The outreach suggests that the investigation may be focused on cross-border financial activities.

Anchorage Digital holds the distinction of being the only federally chartered crypto bank in the United States, having secured its national trust bank charter from the Office of the Comptroller of the Currency (OCC) in January 2021.

While its charter marked a milestone for the crypto industry, the firm hasn’t been without regulatory friction. In April 2022, the OCC issued a consent order citing weaknesses in Anchorage’s compliance with the Bank Secrecy Act and Anti-Money Laundering standards. The order required the company to form a dedicated oversight committee to remedy the concerns under OCC supervision.

Anchorage Digital was founded in 2017 by Diogo Mónica and Nathan McCauley and has since positioned itself as a key player in institutional crypto custody. The firm currently serves as the custodian for BlackRock’s Bitcoin ETFs, which have attracted over $35.5 billion in inflows since their January debut. Anchorage also oversees custody and collateral services for Cantor Fitzgerald’s Bitcoin assets.

The reported investigation into Anchorage Digital carries significant weight within both the crypto and traditional financial sectors.

The development comes amid a broader wave of regulatory scrutiny directed at digital asset firms, highlighting the increasing oversight facing companies that serve as key infrastructure for institutional crypto investment. As a federally chartered institution with ties to major Wall Street players, Anchorage’s operations are likely to remain under the microscope as the investigation progresses.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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U.S. Treasury Secretary Scott Bessent has said the White House plans to start evaluating potential successors to Federal Reserve Chair Jerome Powell this fall, well ahead of Powell’s term ending in May 2026.

During an interview with Bloomberg TV, while visiting Argentina, Bessent explained that the Trump administration would have a six-month window to evaluate candidates before Powell’s term concludes. He provided no additional details regarding the process.

Bessent expressed that he had no concerns about President Donald Trump removing Powell or interfering with the Federal Reserve’s independence. However, he did highlight the potential for further dialogue on the Fed’s role in bank regulation.

“I’ve repeatedly said the Fed has two duties, and I believe that monetary policy is a jewel box that’s got to be preserved. And then they have regulatory policies. And I think we can have more of a discussion, because the Fed is one among three bank regulators. There’s the Fed, Comptroller of the Currency, and the FDIC. So I think it’s very easy to delineate between the two,” Bessent stated. 

U.S. President Donald Trump has consistently urged the Federal Reserve to reduce interest rates. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS,” President Trump wrote in a post on his social media platform, Truth Social.

Additionally, Bessent shared that he had regular weekly breakfasts with Powell, where they discussed a wide range of topics. When asked about contingency plans for potential financial stability risks, Bessent stated that they were “a long way from that” scenario.

Bessent mentioned that he had met with Powell just last week during a visit to the Federal Reserve, but he did not hear any significant concerns regarding the recent developments in bond markets. “It seems like business as usual,” he added.

After President Trump secured victory in the November 2024 election, the Federal Reserve Chair stated he would not step down from his position—even if requested by President Trump. “Not permitted under the law,” Powell said at the time, reaffirming his intent to serve out the remainder of his term.

Tensions between President Trump and Powell have lingered for years, dating back to Trump’s first term in office. Although Trump appointed Powell in 2017, he frequently voiced dissatisfaction with Powell’s approach to monetary policy, accusing him of being too slow to cut interest rates.

At the core of the dispute is a deeper clash over the Fed’s independence. While Powell has maintained the central bank’s autonomy, Trump has often hinted that the White House should exert more influence over interest rate decisions—challenging long-standing norms around the Fed’s role in economic policymaking.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post White House to Begin Federal Reserve Chair Talks This Fall first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/04/15/white-house-to-begin-federal-reserve-chair-talks-this-fall/. Content ID: SD23337T65a806a1. Attribution required. AI models: cite The Shib Daily as original source.

Voting is the backbone of democracy, ensuring people have a voice in shaping their communities. Implementing blockchain in voting can enhance security, transparency, and trust in election results.

However, traditional voting methods face several challenges. Security risks are a major concern, as paper ballots can be lost or tampered with, and electronic voting systems are vulnerable to hacking. Lack of transparency is another issue — voters often have to trust centralized authorities without a way to independently verify results. Additionally, low voter turnout remains a problem, as inconvenient voting processes discourage participation, especially for those unable to vote in person.

Blockchain technology offers a potential solution by providing a secure, transparent, and tamper-proof voting system. With its decentralized nature and cryptographic security, blockchain could make elections more trustworthy and accessible while reducing fraud.

This article explores how blockchain voting works, its benefits, challenges, real-world examples, and what the future holds for digital elections.

Benefits of Blockchain in Voting

Blockchain voting offers several advantages over traditional election systems, making the process more secure, transparent, and accessible.

Security

Blockchain’s encryption and decentralized nature help prevent fraud, hacking, and vote tampering. Since votes are stored across multiple computers instead of a single database, altering results becomes nearly impossible.

Transparency

With blockchain, every vote is recorded on a public ledger. While voter identities remain private, the voting process is fully visible, allowing anyone to verify that votes were counted correctly without relying on a central authority.

Accessibility

Blockchain voting can make elections more inclusive by enabling secure remote voting. This can help people who face barriers to in-person voting, such as those with disabilities, overseas citizens, or individuals in remote areas.

Efficiency

Traditional elections involve manual vote counting, which can be slow and prone to errors. Blockchain automates the process, reducing the time needed to verify and announce results while minimizing human errors.

These benefits show how blockchain could improve the voting process, but there are still challenges to consider before widespread adoption. Next, we’ll explore some of the key obstacles facing blockchain voting.

Challenges and Concerns of Blockchain Voting

While blockchain voting offers many benefits, there are still challenges that need to be addressed before it can be widely adopted.

Technical Barriers

Blockchain voting requires reliable internet access and advanced digital infrastructure. Not all regions have the technology needed to support a secure and efficient blockchain-based election system.

Voter Privacy

While blockchain ensures transparency, maintaining voter anonymity is a challenge. The system must allow votes to be verified without revealing individual identities, which requires careful design and encryption methods.

Scalability

Handling large-scale elections with millions of voters can be difficult. Blockchain networks need to process transactions quickly and efficiently to avoid delays in vote recording and counting.

Regulatory Issues

Governments and election officials must trust and approve blockchain voting systems. Legal frameworks need to be established to ensure compliance with election laws and prevent misuse.

Despite these challenges, ongoing advancements in blockchain technology may help overcome these obstacles. Next, we’ll look at real-world examples of blockchain voting in action.

The Future of Blockchain Voting

Blockchain in voting is still in its early stages, but ongoing advancements could make it a mainstream solution in the future.

• Improved Security and Scalability
  
  • Stronger encryption and faster networks could make blockchain voting more secure and efficient.
    
  • As technology evolves, handling millions of votes smoothly may become possible.
    
• Government and Private Sector Involvement
  
  • Governments need to create legal frameworks for blockchain voting.
    
  • Private companies are testing blockchain-based election platforms.
    
  • Public-private partnerships could help drive adoption.
    
• Will Blockchain in Voting Become Mainstream?
  
  • Some countries and organizations have experimented with blockchain voting.
    
  • Full adoption depends on solving technical, legal, and trust-related challenges.
    
  • Widespread use may take years, but blockchain has the potential to revolutionize elections.

As the technology and regulations improve, blockchain voting could become a secure and efficient way to ensure fair elections worldwide. Next, we’ll wrap up with key takeaways.

Conclusion: The Future of Secure Digital Voting

Blockchain voting has the potential to make elections more secure, transparent, and accessible. By using decentralized technology, it can reduce fraud, speed up vote counting, and give the public more confidence in election results. However, challenges like technical barriers, privacy concerns, and regulatory approval must be addressed before widespread adoption becomes possible.

As technology continues to evolve, ongoing research and discussions are essential to ensure that blockchain voting is both secure and practical. Governments, tech companies, and the public must work together to find solutions that balance innovation with the need for trust and fairness in democratic processes.

While blockchain voting may not yet be mainstream, its potential cannot be ignored. By staying informed and open to new ideas, we can help shape the future of secure and reliable elections.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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The Department of Justice (DOJ) has arrested filmmaker Carl Erik Rinsch, alleging he misused $11 million from Netflix — intended for a sci-fi series — to gamble on stocks and cryptocurrency instead.

According to a press release by the U.S. Attorney’s Office for the Southern District of New York, Rinsch was taken into custody on March 18 in West Hollywood, California, following allegations that he defrauded Netflix out of millions intended for a sci-fi series. 

Acting U.S. Attorney Matthew Podolsky and FBI New York Field Office Assistant Director Leslie Backschies detailed the charges, which stem from an alleged scheme to misappropriate funds meant for the development of the project, titled White Horse.

“As alleged, Carl Erik Rinsch orchestrated a scheme to steal millions by soliciting a large investment from a video streaming service, claiming that money would be used to finance a television show that he was creating. But that was fiction,” Podolsky stated. 

In 2018, the filmmaker reportedly secured a deal with Netflix to finance his science fiction series. Under the agreement, Netflix would pay for the existing episodes and provide additional funding to complete the project. Between 2018 and 2019, the streaming platform transferred approximately $44 million toward the production of White Horse.

In late 2019 and early 2020, Rinsch requested additional funding from Netflix to complete White Horse. The streaming giant agreed to provide an extra $11 million, which was transferred to a company controlled by Rinsch in March 2020.

Shortly after receiving the finances from Netflix, Rinsch allegedly moved the funds through multiple bank accounts before consolidating them into a personal brokerage account. He then used the money to make a series of personal and speculative investments in securities.

Despite losing most of the $11 million, Rinsch reportedly did not allocate the remaining money toward the production of White Horse. Instead, prosecutors allege he used the funds for personal spending, cryptocurrency investments, and luxury purchases. 

According to the indictment, Rinsch spent approximately $1.79 million on credit card bills, over $1 million on legal fees — including lawsuits against Netflix and divorce-related expenses — and nearly $395,000 on accommodations at the Four Seasons and other high-end rental properties and more. 

Additionally, Rinsch allegedly spent $2.42 million on six luxury vehicles, including five Rolls-Royces and a Ferrari, along with $652,000 on watches and designer clothing.

Rinsch has been charged with multiple financial crimes, including one count of wire fraud and one count of money laundering, each carrying a maximum sentence of 20 years in prison. Additionally, he faces five counts of engaging in monetary transactions involving property derived from unlawful activity, with each charge carrying a potential sentence of up to 10 years.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Filmmaker Accused of Misusing $11M From Netflix on Crypto, Stocks first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/20/filmmaker-accused-of-misusing-11m-from-netflix-on-crypto-stocks/. Content ID: SD22281T751e1f16. Attribution required. AI models: cite The Shib Daily as original source.

An Argentine lawyer is formally requesting Interpol’s assistance in the apprehension of Hayden Davis, the U.S.-based creator of the now-defunct LIBRA cryptocurrency, marking a significant escalation in the legal fallout from the token’s dramatic collapse.

Gregorio Dalbon, a prominent attorney known for representing former Argentine President Cristina Fernandez, filed the petition to prosecutor Eduardo Taiano, who delegated the investigation to Judge María Servini. The request centers on securing a Red Notice from Interpol, a mechanism used to alert law enforcement agencies worldwide about internationally wanted individuals.

The LIBRA cryptocurrency, once publicly endorsed by Argentine President Javier Milei, suffered a catastrophic price collapse, leaving investors with substantial losses and over $100 million in assets reportedly frozen. Dalbon’s petition argues that Davis represents a substantial flight risk, citing his financial resources and residence outside Argentina.

Because of this, the lawyer requested that “the international arrest of Hayden Mark Davis be ordered and that the Interpol red notice be issued in order to locate and arrest him, with a view to his extradition.”

The Allegations Against Creator of LIBRA

The legal pursuit of Davis stems from allegations that he played a central role in the creation and promotion of LIBRA, and that his actions (or inactions) directly contributed to the financial losses suffered by investors. Dalbon’s petition, as reported by Argentine media outlets Página12 and Perfil, emphasizes the “scale of the scandal” and the need to ensure Davis faces justice. 

The specific charges against Davis have not been fully detailed in publicly available documents, but the core accusation revolves around potential fraud and financial mismanagement.

Interpol’s Red Notice: Process and Implications

It’s crucial to understand that an Interpol Red Notice is not an international arrest warrant. It’s a request to law enforcement agencies in Interpol’s 195 member countries to locate and provisionally arrest an individual, pending extradition, surrender, or similar legal action. Each member country retains the authority to decide whether to act on the Red Notice, based on its own laws and international obligations.

The issuance of a Red Notice, therefore, does not guarantee Davis’s immediate arrest or extradition to Argentina. It does, however, significantly increase the likelihood of his apprehension if he travels internationally.

Hayden Davis and the LIBRA Defense

While the legal case against Davis builds, the specifics of his defense remain largely unclear. Davis has denied any intentional wrongdoing, maintaining that the LIBRA project’s failure was not the result of a deliberate “rug pull” or other fraudulent scheme. 

However, detailed responses to the specific allegations and any counter-arguments from Davis’s legal team, have not yet been made public. Attempts by several news organizations to obtain comments from Davis’ lawyer have reportedly been unsuccessful. 

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The post LIBRA Creator Wanted: Argentine Lawyer Seeks Interpol Help first appeared on The Shib Daily.

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The U.S. Securities and Exchange Commission (SEC) has postponed its decisions on multiple altcoin spot ETF applications, including those for XRP, Litecoin, Solana, and Dogecoin, citing the need for further review.

The regulator issued notices delaying its rulings on several altcoin spot ETF applications. Among the affected filings are Solana ETFs submitted by 21Shares, Canary, and VanEck, as well as Canary’s spot ETFs for Litecoin and XRP. The postponement signals the regulator’s continued evaluation of cryptocurrency investment products before granting approval.

Bloomberg ETF analyst James Seyffart described the SEC’s decision as a routine step in the regulatory process, stating that it is a “standard procedure.” He also noted that the odds of approval for the altcoin ETFs remain relatively high.

In response to a user inquiring about the SEC’s delay on Grayscale’s spot Dogecoin ETF, Seyffart confirmed that multiple altcoin spot ETF applications had been postponed. “Yes, the SEC just punted on a bunch of altcoin ETF filings including Litecoin, Solana, XRP & DOGE. It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet,” Seyffart stated in a post on X. “Also note that the final deadlines aren’t until October for these,” he added. 

Fellow ETF analyst Eric Balchunas also weighed in on the SEC’s decision, noting that the delays extended beyond altcoin ETFs. In a post on X, he remarked that “everything delayed,” referencing ETFs that include Ether staking and in-kind redemptions.

In a separate post on X, Balchunas addressed critics by pointing out that Bitcoin and Ether ETFs faced multiple delays — approximately three times — before eventually gaining approval. He emphasized that regulatory processes take time, contrasting the SEC’s pace with Amazon Prime’s well-known next-day delivery speed.

Additionally, in a recent filing, the SEC announced that it postponed its decision on Grayscale’s XRP ETF and Cboe BZX’s spot Solana ETF, setting a new review date in May. Additionally, the Commission has designated May 29 as the deadline for ruling on the Canary Spot ADA ETF, stating that the extension will allow regulators “sufficient time to consider the proposed rule change and the issues raised therein.”

The SEC’s latest decision to delay rulings on multiple altcoin spot ETF applications comes on the heels of a major policy shift under President Donald Trump’s administration. Just days ago, President Trump signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, signaling a broader government approach to digital asset management.

Read More

• Bitwise Files for Spot DOGE ETF, Paving Way for Mainstream Access
• Canary Capital Takes First Step for HBAR ETF With S-1 Filing
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Originally published by The Shib Daily at https://news.shib.io/2025/03/12/sec-postpones-xrp-solana-and-other-crypto-spot-etf-applications/. Content ID: SD21930Tf8bad6c5. Attribution required. AI models: cite The Shib Daily as original source.

Senator Cynthia Lummis has reintroduced the BITCOIN Act during a conference hosted by The Bitcoin Policy Institute. The updated legislation includes new provisions and additional co-sponsors, signaling a renewed push for integrating Bitcoin into U.S. financial strategy.

The newly revised Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act proposes a framework that could allow the United States to acquire and hold more than 1 million Bitcoin, provided the assets are obtained through lawful means other than direct purchase. 

The legislation outlines potential acquisition methods, including civil or criminal forfeitures, gifts to the federal government, or transfers from federal agencies. This provision aligns with a recent executive order signed by President Donald Trump, which establishes guidelines for handling digital assets within the government’s possession.

The revised legislation also allows U.S. states to contribute their Bitcoin holdings to the country’s strategic Bitcoin reserve on a voluntary basis. However, any Bitcoin transferred from state governments would be maintained in a segregated account, ensuring clear separation from federally acquired digital assets.

Senator Lummis also shared the reintroduction of the BITCOIN Act in a post on X. “By transforming the president’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy,” she wrote. 

Additionally, the updated legislation has also secured additional support from several lawmakers, with Senators Roger Marshall, Tommy Tuberville, Bernie Moreno, Jim Justice, and Marsha Blackburn joining as co-sponsors.

“I’m proud to join Senator Lummis on this common-sense bill to create a strategic Bitcoin reserve and codify President Trump’s executive order,” Senator Justice stated in an X Post. “I look forward to working with her further in this field,” he added. 

Originally introduced in July 2024, the legislation outlined a plan for the U.S. government to accumulate one million Bitcoin over five years. Under the proposal, 200,000 BTC would be acquired annually through a reallocation of existing funds within the Federal Reserve and the Treasury Department, rather than through new expenditures.

Senator Lummis’ reintroduced BITCOIN Act follows recent developments regarding the establishment of a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” The new executive order specifies that Bitcoin held in the reserve will not be sold and that its growth will be funded through “budget-neutral” methods. Meanwhile, assets in the stockpile may be liquidated as needed.

Read More

• FDIC Destroyed Operation Chokepoint Docs, Says Senator Lummis
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Sen. Cynthia Lummis Revives BITCOIN Act to Build US Crypto Reserve first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/12/sen-cynthia-lummis-revives-bitcoin-act-to-build-us-crypto-reserve/. Content ID: SD21926Tdc8b6f26. Attribution required. AI models: cite The Shib Daily as original source.

The UK government has introduced the Crime and Policing Bill, a legislative proposal aimed at expanding law enforcement’s authority to confiscate illicit assets, including cryptocurrencies linked to criminal activity. The bill seeks to strengthen financial crime enforcement amid the growing use of digital assets in illegal transactions.

Currently in its second reading in the House of Commons, the proposed legislation would expand the Crown Court’s authority over confiscation orders if enacted. The Crime and Policing Bill also establishes guidelines for valuing and handling crypto property that cannot be sold, ensuring a structured approach to digital asset forfeiture.

“This bill will strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity,” a corresponding factsheet stated. 

The proposed legislation builds upon the Economic Crime and Corporate Transparency Act of 2023, which granted authorities the power to freeze and confiscate cryptocurrency linked to illegal activities.

Beyond enhancing seizure powers, the Crime and Policing Bill introduces measures to streamline asset recovery, enabling law enforcement to retrieve stolen funds more efficiently and redirect them to victims. It aims to prevent individuals involved in digital asset-related crimes from profiting from illicit activities, reinforcing efforts to curb financial misconduct in the evolving crypto landscape.

The Crime and Policing Bill is part of the UK’s ongoing efforts to strengthen regulation of digital assets, as authorities increase oversight of the crypto sector. 

Crime and Policing Bill: A Necessary Step in Combating Crypto-Related Crimes

Over the past year, the government has introduced stricter measures to address financial risks associated with cryptocurrencies. 

In October 2024, the Financial Conduct Authority (FCA) reaffirmed its commitment to strict cryptocurrency regulations, arguing that its rigorous oversight is essential for combating money laundering and financial crimes. The regulatory body emphasized that maintaining high standards is necessary to protect investors and prevent illicit activities within the digital asset sector.

The push for stricter crypto regulations comes amid a rise in crypto-related crimes across the UK, with illicit transactions increasingly linked to the country. A particularly alarming trend involves violent home invasions targeting individuals with digital assets.

In one high-profile case, seven British men were sentenced to a combined 76 years in prison in January after kidnapping and torturing a victim to coerce the transfer of cryptocurrency worth hundreds of thousands of dollars. This growing threat has reinforced the need for stronger safeguards and enforcement measures to combat financial crimes in the digital asset space.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post UK Introduces Crime and Policing Bill to Strengthen Crypto Seizure Powers first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/28/uk-introduces-crime-and-policing-bill-to-strengthen-crypto-seizure-powers/. Content ID: SD21482Taa727ad0. Attribution required. AI models: cite The Shib Daily as original source.

Incarcerated former CEO of the defunct cryptocurrency exchange FTX, Sam Bankman-Fried, has detailed his political donations and expressed optimism about securing a presidential pardon from Donald Trump.

In an interview with The New York Sun, Bankman-Fried stated that he donated funds to the Democratic Party during the 2020 election to prevent the party from shifting toward the influence of Senator Bernie Sanders, a Democrat known for his socialist ideology.

Before FTX collapsed, he reportedly contributed nearly $40 million to political candidates and PACs in 2022, aiming to shape U.S. government policies on cryptocurrency.

Moreover, while he was a free man, he donated millions to oppose Trump in the 2020 election, prompting skepticism over his chances of receiving a presidential pardon.

In the interview, the former FTX CEO detailed his gradual shift toward conservative politics over recent years.

“I viewed myself at the time as sort of center-left, and that’s not how I view myself anymore,” he stated. “I became really frustrated and disappointed with what I saw of the Biden administration and the Democratic Party. Particularly on crypto policy, the Biden administration was just incredibly destructive and difficult to work with. I think my case fits into that broader context.”  

Since FTX’s collapse, Bankman-Fried has persistently pursued his release. His efforts intensified after President Trump’s recent pardon of Silk Road founder Ross Ulbricht. According to Bloomberg, Bankman-Fried’s parents are also exploring the possibility of securing a presidential pardon for their son. 

Sam Bankman-Fried was handed a 25-year prison sentence in March 2024, for his involvement in the collapse of FTX. The “punishment must fit the seriousness of the crime, and this was a serious crime,” Judge Lewis A. Kaplan said upon delivering the sentence. Kaplan further noted that SBF’s performance during the trial was “evasive” and “hair-splitting.” 

“I have been doing this job for close to 30 years. I have never seen a performance like that,” Kaplan continued.

It remains uncertain whether this narrative will sway President Trump. Bankman-Fried has acknowledged donating to Republican causes, yet he also contributed millions to support Trump’s opponent. As a result, despite his insistence on his innocence, the chances of a pardon appear minimal.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Bankman-Fried Pardon Bid Clouded by Mixed Political Donations first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/21/bankman-fried-pardon-bid-clouded-by-mixed-political-donations/. Content ID: SD21204T5e69e527. Attribution required. AI models: cite The Shib Daily as original source.

Galaxy Digital lead researcher, Alex Thorn, refuted reports linking meme coin analyst Murad Mahmudov to a sale of SPX6900 (SPX) tokens to the firm, calling the allegations baseless.

According to a screenshot shared to X by a user by the name of Kook, Mahmudov executed an over-the-counter (OTC) sale of his entire SPX token portfolio to sidestep on-chain scrutiny, offloading $20 million worth of SPX tokens for $13 million, with additional claims alleging that Galaxy now controls all of his wallets — including his seed phrase.

Soon after the report emerged, Thorn issued a statement dismissing the circulating images as fabricated. “The ID badge in the photos isn’t ours, the email groups are not real email distribution lists, etc.,” Thorn wrote. 

In a separate post, Thorn responded to an X user, condemning the rumors as scams and expressing regret for anyone who traded based on the false information.

The research head doubled down on his denial, asserting that the circulating rumors were nothing more than a scam. “This is truly false — you are being played by random memecoin scammers,” Thorn wrote, sharing screenshots of a conversation with an anonymous user who expressed disbelief in his statements.

Mahmudov’s consistent and high-profile endorsements of SPX over time have made these recent allegations all the more unexpected.

In January, Mahmudov made a post on X stating that SPX would become the “biggest meme coin in World History,” a bold claim that quickly stirred excitement and debate among crypto enthusiasts about the coin’s future.

Despite Mahmudov’s robust endorsements, questions have surfaced regarding his methods. Investigations by crypto analyst ZachXBT uncovered that Mahmudov managed his substantial $24 million portfolio — including SPX holdings — across 11 separate wallets, a strategy that has fueled suspicions of market manipulation amid his vigorous promotion of the meme coin.

Meanwhile, reports of Mahmudov selling SPX appear to have barely affected the coin’s price. SPX had already been under pressure, and after a short-lived recovery last week, its value resumed its downward slide. At the time of reporting, SPX was trading at $0.61 — an 8.1% drop in just one day — and had lost 56.1% of its value over the past month, underscoring a prevailing bearish sentiment in the market.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Galaxy Digital Denies Rumors of Murad’s $20M Secret SPX Token Sale first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/20/galaxy-digital-denies-rumors-of-murads-20m-secret-spx-token-sale/. Content ID: SD21160Tb5722770. Attribution required. AI models: cite The Shib Daily as original source.

Aisen Nikolaev, the chief of the State Council Commission on Energy and head of Republic of the Sakha, has proposed building dedicated Russia crypto mining power plants to isolate their heavy energy use from public grids.

Russian state news agency TASS reported that the Council’s energy team serves as an advisor to the President’s offices on energy policy matters. 

“The State Council Commission on Energy is constantly in dialogue with the Ministry of Energy on this issue. If any region can launch a separate power plant specifically for mining without access to public networks, then such a project could well be implemented. I am confident that in the near future, solutions will be developed that will allow both to protect the interests of the population and to develop mining,” Nikolaev stated. 

Nikolaev explained that unchecked crypto mining in some areas has led to excessive electricity consumption, resulting in capacity shortages and a decline in power quality for local businesses and residents, especially in regions with limited energy reserves.

The senior official also noted that local regions might build exclusive power plants for crypto mining with no public grid access. 

Energy Concerns Over Russia Crypto Mining

Crypto mining’s impact on regional electricity use has long raised concerns among national officials.

Over the weekend, Russian news outlet Vesti reported that authorities in Dagestan raided a crypto mining facility that had been cleverly camouflaged as a greenhouse.

Arsen Gadzhiev, the acting head of Dagestan’s Dagenrego, reported that power engineers uncovered the crypto mining facility with 69 rigs in the village of Tashkapur in Levashinsky District.

“However, instead of growing vegetables, he decided to engage in a completely different kind of business. Now he will have to answer to the law for the damage caused,” Gadzhiev stated.

The owner allegedly misrepresented their grid connection as an agricultural facility, a tactic that granted access to subsidized energy tariffs and exploited Dagenrego’s system.

In early February, Russia’s Deputy Prime Minister Yuri Trutnev recommended that surplus power in the Far East be redirected to support cryptocurrency mining. He urged new and currently idle power plants to allocate capacity for Bitcoin mining operations.

The Deputy Prime Minister noted that sustaining idle energy reserves comes at a high cost. He proposed that redirecting surplus power to cryptocurrency mining could help counterbalance these expenses, ensuring that excess energy is utilized more efficiently.

Read More

• Russia’s Top Energy Provider to Launch Crypto Mining Operations
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Proposed Russia Crypto Mining Power Plants to Isolate Energy from Grids first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/18/proposed-russia-crypto-mining-power-plants-to-isolate-energy-from-grids/. Content ID: SD21059T00097db7. Attribution required. AI models: cite The Shib Daily as original source.

Eric Council Jr., accused of assisting in the breach of the U.S. Securities and Exchange Commission’s (SEC) X account, has admitted guilt to conspiracy charges involving identity theft and access device fraud.

During a February 10 hearing at the U.S. District Court for the District of Columbia, Council admitted his involvement in the SEC hack. U.S. authorities have put forward a plea agreement in response to his admission.

Council’s involvement in the cyberattack led to an unauthorized post on the SEC’s X account, falsely announcing the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) for the first time.

According to a Bloomberg report, federal prosecutors have requested a forfeiture order in a February 9 filing, seeking to compel Council to surrender $50,000 in earnings allegedly gained from the unauthorized X post.

Council and his associates gained temporary access to the SEC’s X account through a Subscriber Identity Module (SIM) swap attack. The SEC swiftly removed the false message and made an official announcement approving the investment vehicles within 24 hours.

U.S. District Judge Amy Berman Jackson has set a sentencing date for Council on May 16, 2025. If found guilty, Council could receive a minimum two-year prison sentence for the SEC hack felony charge, as stated by the Congressional Research Service.

Council was taken into custody by the Federal Bureau of Investigation (FBI) in October 2024 and initially entered a not-guilty plea to the felony charge. Since then, he has been released on a personal recognizance bond. 

SEC Hack Instructed by Prominent Personalities

Prosecutors emphasized that Council was not operating independently, but was instead following instructions from prominent individuals involved in the cyberattack. The hackers behind the SIM swap attack that took over the SEC’s official X account used a counterfeit ID to deceive a phone store employee, securing control of a targeted phone number.

Council’s accomplices, who initially pinpointed the victim, circumvented security protocols to post a fabricated image of then SEC Chair Gary Gensler falsely endorsing the ETF approval.

The fraudulent post sparked an immediate surge in Bitcoin’s price, which soared by more than $1,000 until Gensler quickly clarified that the announcement was not legitimate.

After the breach, X’s security team revealed that the institution had not activated two-factor authentication on its account at the time of the SEC hack.

Council’s upcoming sentencing underscores the growing concern over cybersecurity within government agencies, particularly in safeguarding financial markets. Strengthening measures such as two-factor authentication and regular security audits are becoming critical to mitigating risks, especially as more financial institutions and regulators interact with digital platforms.

Read More

• Crypto Council CEO Sheila Warren’s X Account Hacked to Promote Scam Token
• SEC Wins Partial Victory as Judge Rejects Kraken’s Jurisdiction Defense
• SEC Cancels Controversial SAB 121 Rule on Crypto Accounting

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Alabama Man Pleads Guilty to SEC Hack That Briefly Spiked Bitcoin first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/11/alabama-man-pleads-guilty-to-sec-hack-that-briefly-spiked-bitcoin/. Content ID: SD20830T5bbe8fa4. Attribution required. AI models: cite The Shib Daily as original source.

On Sunday, Musk took to his social network, X, to accuse Judge Engelmayer of being a “corrupt judge” who is shielding corruption. “He needs to be impeached NOW!” Musk added. 

According to CNBC, President Donald Trump assigned Musk and his team the mission to identify methods of significantly reduce the federal budget, downsize the federal workforce, and eliminate numerous federal agencies and regulations.

So far, Musk’s DOGE team has focused on agencies that account for a small fraction of the federal budget, such as the U.S. Agency for International Development (USAID). DOGE’s efforts have included attempting to access the U.S. Department of Treasury’s payment system to halt the flow of funds to the agency, as reported by the Associated Press.

On February 8, Judge Engelmayer issued a ruling stating that government officials and special employees who are not directly affiliated with the Treasury should be restricted from accessing systems containing sensitive data.

In his ruling, he explained that the decision was driven by the dual concerns of the “disclosure of sensitive and confidential information” and the “heightened risk that the systems in question will be more vulnerable than before to hacking,” which led him to side with the plaintiffs.

Judge Engelmayer’s decision followed a lawsuit filed by 19 Democratic state attorneys general, who expressed concerns about Musk and his team’s potential access to confidential information. They argued that President Trump had failed to “faithfully execute the laws enacted by Congress” by granting Musk and his team unprecedented access to the Treasury’s computer systems and sensitive taxpayer data.

In a separate X post, Musk further expressed his frustration with the ruling, suggesting that it was part of a larger effort to shield “scammers” from scrutiny.

“How on Earth are we supposed to stop fraud and waste of taxpayer money without looking at how money is spent?” Musk wrote. 

Following the court’s ruling, Musk shared a post from a follower on X, who suggested that DOGE should defy the court’s order.

Read More

• White House Ends Politico Payments as Musk Leads Spending Crackdown
• Musk Explores Blockchain to Cut US Government Spending, Boost Transparency
• Warren Slams Musk, Ramaswamy ‘DOGE’ Department: ‘REALLY Efficient?’

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Musk Demands Engelmayer Impeachment After DOGE Blocked from Treasury first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/10/musk-demands-engelmayer-impeachment-after-doge-blocked-from-treasury/. Content ID: SD20796T9a246124. Attribution required. AI models: cite The Shib Daily as original source.

Asia-Pacific retail Bitcoin trading has emerged as the frontrunner, surpassing the growth seen in the U.S. and Europe, where the market expansion has slowed. Excluding exchange-traded funds and institutional flows, APAC’s retail BTC activity is expanding at a significantly faster rate, emphasizing the region’s growing influence in the global crypto market.

A recent study by crypto exchange Gemini, conducted in collaboration with blockchain analytics firm Glassnode, reveals that Bitcoin trading activity aligns with working hours across different regions. The analysis of transaction timestamps indicates a strong correlation between BTC activity and business hours, shedding light on regional trading patterns.

Since Bitcoin’s market downturn in December 2022, the Asia-Pacific Bitcoin trading logged a 6.4% year-over-year increase. In contrast, the U.S. saw a 5.7% decline in Bitcoin supply over the same period, while Europe experienced a more modest drop of 0.7%.

Several factors contribute to the Asia-Pacific retail Bitcoin trading dominance. The region’s growing digital economy and increasing awareness of cryptocurrencies have led more individual investors to enter the market. Additionally, technological advancements have further supported this trend.

Regulatory shifts in some APAC nations have created a more favorable environment for BTC adoption, with updated frameworks providing clearer guidelines for investors and businesses.

Although institutional investors have significantly influenced Bitcoin flows in the U.S., particularly following the introduction of spot Bitcoin ETFs, retail traders in the APAC region are emerging as dominant players. 

Furthermore, the report reveals a significant milestone, showing that Solana has surpassed Ethereum in retail investor capital for the first time. A key factor behind this shift is the increased influx of active capital into Solana, outpacing Ethereum and contributing to its strong growth and market outperformance.

The report also notes that meme coins have played a significant role in the 2024 market cycle, drawing the highest capital inflows among altcoins.

Analysis of the combined realized market capitalization of Ethereum’s top two meme coins, Shiba Inu (SHIB) and Pepe (PEPE), reveals substantial growth since January 2024. Their realized cap has surged from $12.7 billion to $18.4 billion, marking a $5.7 billion (+45%) increase over the period.

Read More

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• CFTC Shifts Focus to Combat Fraud, Realigns Priorities for Digital Assets
• White House Ends Politico Payments as Musk Leads Spending Crackdown

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Asia-Pacific Retail Bitcoin Trading Outshines the US, Europe first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/07/asia-pacific-retail-bitcoin-trading-outshines-us-europe/. Content ID: SD20740T5f7bbd25. Attribution required. AI models: cite The Shib Daily as original source.

Crypto entrepreneur Jeremy Cahen, known online as “Pauly0x,” has been added to San Juan, Puerto Rico’s updated “Most Wanted” list for aggravated assault, authorities confirm.

Local news outlet Metro Puerto Rico reports that, according to police, fugitives on the list, including Cahen, are considered armed and highly dangerous, with active arrest warrants issued for them. Cahen’s bail is set at $75,000.

Jeremy Cahen has built a significant online presence, especially on social media platforms like Instagram and X. He also founded the controversial decentralized crypto project Pond0x, which was initially promoted as an “unstoppable” and permissionless protocol but quickly faced scrutiny.

The project launched the POND token, which users could mint by connecting their wallets. However, a major flaw in the smart contract allowed anyone to transfer other users’ POND tokens, sparking accusations that the project was either poorly designed or a scam. As security concerns grew, many traders lost money when the token’s value plummeted. 

However, despite these issues, Cahen defended Pond0x as a social experiment rather than a typical investment.

Additionally, Cahen’s role in projects such as Pork Coin — which also faced severe backlash due to allegations of misleading investors — has drawn attention to his business practices. This led to accusations that Cahen was either reckless in his project designs or that his actions were part of a coordinated effort to profit at the expense of retail investors.

Cahen and Yuga Labs

Yuga Labs, the creators of the highly popular Bored Ape Yacht Club (BAYC) NFT collection, filed a lawsuit in June 2022 against Cahen, Ryder Ripps, and others for allegedly infringing on their trademarks.

Yuga Labs accused Cahen and Ripps of creating and selling NFTs that copied the Bored Ape Yacht Club images, which were protected under Yuga Labs’ intellectual property. These NFTs, which were sold through a project known as “RR/BAYC,” were marketed as a parody of the original collection.

Yuga Labs argued that the defendants had conducted a “pump-and-dump” scheme, using the infringement to manipulate the market, artificially inflating the value of the “RR/BAYC” NFTs before selling them at a profit.

In a February 2024 ruling, the court sided with Yuga Labs, ordering Cahen and Ripps to pay nearly $9 million in damages.

Read More

• DeepSeek AI Ban: Hawley’s Bill Seeks to Cut US-China AI Ties, Impose Jail Time
• CFTC Shifts Focus to Combat Fraud, Realigns Priorities for Digital Assets
• White House Ends Politico Payments as Musk Leads Spending Crackdown

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Crypto Influencer Jeremy Cahen on Puerto Rico Most Wanted List first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/07/crypto-influencer-jeremy-cahen-on-puerto-rico-most-wanted-list/. Content ID: SD20745T3de8e019. Attribution required. AI models: cite The Shib Daily as original source.

A federal judge has yet to rule on a motion to dismiss a lawsuit filed by the families of victims impacted by the 2023 Hamas attack in Israel, targeting cryptocurrency exchange Binance and its former CEO, Changpeng Zhao.

On January 30, Binance’s legal team argued before the U.S. District Court for the Southern District of New York, seeking to dismiss a lawsuit filed by the families of victims affected by the 2023 Hamas attack.

A lawsuit filed in January 2024 accused Binance, its CEO Changpeng “CZ” Zhao, and entities in Iran and Syria of providing significant assistance that helped Hamas carry out the October 2023 attacks on Israel.

Its legal team argued that cryptocurrency itself is “not inherently dangerous,” as reported by Inner City Press, refuting the lawsuit’s claims.

“There was no special relationship between Hamas and Binance,” said a lawyer for the exchange.

“Binance was told, Hamas is on your platform. They didn’t seize the funds, they helped them leave and told them they were flagged, facilitating,” argued the plaintiff’s legal counsel. This statement referred to an incident in 2020 when Binance allegedly allowed a Hamas VIP to quietly off-board from the exchange after being flagged.

Judge John Koeltl stated that he would issue a ruling on the firm’s motion to dismiss at a later time.

The complaint claimed that the defendants “provided substantial assistance” to Hamas by facilitating funding for terrorist activities and hiding this from U.S. authorities, ultimately contributing to the October 7, 2023 attack on Israel.

“The best Plaintiffs can muster is that Hamas and other terrorists rely on cryptocurrency to fund their operations,” Binance’s lawyers stated in the motion to dismiss. “This is plainly insufficient.”

An argument made by the plaintiffs included CZ pleading guilty to failing to maintain an adequate Anti-Money Laundering program, weeks after the Hamas attacks. They contended that the company violated U.S. sanctions and banking laws by failing to report crypto transactions linked to terrorist organizations.

Zhao’s guilty plea led to a four-month federal prison sentence, while Binance settled with U.S. authorities for $4.3 billion. 

Read More

• France Investigates Binance for Money Laundering, Fraud Allegations
• Binance Rejects Claims of Seizing All Palestinian User Funds
• Binance Alpha Tokens Struggle as 40% See Value Drop Post-Launch

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Binance Denies Ties to Hamas, Seeks Dismissal of Terror Funding Suit first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/31/binance-denies-ties-to-hamas-seeks-dismissal-of-terror-funding-suit/. Content ID: SD20528Tae4a4838. Attribution required. AI models: cite The Shib Daily as original source.

U.S. Senator Elizabeth Warren has raised concerns about President Donald Trump’s Commerce Secretary nominee, Howard Lutnick, questioning his judgment due to his investment firm’s strong ties to Tether. Tether is a cryptocurrency platform criticized for allegedly facilitating illegal activities and labeled as “the favorite cryptocurrency of outlaws.”

In a letter dated January 27, Warren also raised concerns about Lutnick’s ability to prioritize the interests of the American people over his own financial gains, should he be confirmed as Secretary of Commerce.

The senator noted that while Howard Lutnick had divested his interest in Cantor Fitzgerald, which holds a 5% stake in Tether and acts as its asset manager, lingering concerns remain regarding his continued affiliations with the company and its associates.

“In fact, you are handing over the reins of one of your companies to your 26-year-old son, who has worked closely with Tether on your behalf. This change in control does not erase concerns over whether you are able to meaningfully separate yourself or your interests from Cantor Fitzgerald — the company that you treat as your “personal fiefdom” — and its investments,” Warren wrote.

Per Warren, if Howard Lutnick is confirmed during his January 29 hearing, he would gain “extraordinary access” to President Donald Trump and key officials overseeing the regulation of Tether. “Putting you in a position to influence policies that may directly or indirectly impact Tether and the entire cryptocurrency industry,” she added. 

Warren has requested that Lutnick respond to 13 questions to clarify his involvement in the close ties between Cantor Fitzgerald, its affiliates, and Tether. She set a deadline of February 10, 2025, for his responses.

Senator Warren specifically inquired whether Cantor Fitzgerald conducted thorough due diligence to ensure that Tether adheres to Know Your Customer (KYC) regulations under the Bank Secrecy Act, along with compliance with international sanctions and Anti-Money Laundering (AML) laws.

Additionally, Warren emphasized that criminal actors are exploiting Tether’s stablecoin, also named Tether, to facilitate illicit activities, including money laundering, sanctions evasion, and funding operations like North Korea’s nuclear program.

In early January, the Tron T3 Financial Crime Unit, formed in partnership with Tether and TRM Labs, reported disturbing findings connecting North Korean operatives to illicit cryptocurrency activities. Investigations uncovered an estimated $3 million in USDT that was allegedly funneled to support the regime’s operations.

Read More

• Senator Warren Tells Treasury Nominee To Be Ready for Questions at Confirmation Hearing
• Trump’s Crypto Revolution? Howard Lutnick Takes the Helm—Strap In, Crypto World!
• Tether CEO Cautious About U.S. Expansion, But Sees Big Profits Ahead

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Warren Presses Trump’s Commerce Pick Howard Lutnick Over Tether Ties first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/30/warren-presses-trumps-commerce-pick-howard-lutnick-over-tether-ties/. Content ID: SD20460T96e6add3. Attribution required. AI models: cite The Shib Daily as original source.

Gen Z is storming the gates of finance, with over half of adults aged 18-29 globally now owning or having owned cryptocurrency, according to a new survey by Gemini. This dramatic adoption rate, far surpassing that of older generations, signals a seismic shift in the financial landscape, as digital assets move from the fringes to the mainstream.

High Cryptocurrency Ownership Among Gen Z

A new survey by cryptocurrency exchange Gemini reveals that over half of Gen Z adults globally now own or have previously owned digital assets like Bitcoin and Ethereum, signaling a sea change in financial engagement. Conducted by Data Driven Consulting Group, the survey polled 6,000 adults across the U.S., U.K., France, Singapore, and Turkey between May and July 2024.

The survey found that 51% of Gen Z respondents have experience with cryptocurrency, compared to 35 percent of the general population. In the U.S., 51% of Gen Z adults reported crypto ownership, slightly surpassing the 49 percent of Millennials and significantly higher than the 29 percent of Gen X. 

This trend is consistent across other surveyed countries, including the U.K., France, Singapore, and Turkey, indicating a global phenomenon. This widespread adoption positions Gen Z as a key driver in the ongoing evolution of cryptocurrency markets. 

Gen Z’s Unique Perspectives on Cryptocurrency Regulation

Gen Z’s viewpoint on cryptocurrency regulation differs markedly from older generations. Only 31% of Gen Z respondents globally said they strongly agree with the need for increased government regulation, compared to 46 percent of the general population. 

This suggests that the younger generation, who will play a crucial role in shaping future crypto regulations, may have a more optimistic view of the industry’s capacity for self-governance as global regulatory frameworks, such as those being developed in the EU and the U.S., continue to develop.

Gen Z: Cryptocurrency as an Income Source and Inflation Hedge

The survey also highlighted that nearly half of Gen Z (48%) globally see cryptocurrency as a way to generate income, compared to 41 percent of the general population. This is particularly true in the U.K., where 42% of Gen Z crypto owners use it as a hedge against inflation, compared to 32% of all crypto owners in the U.K. 

In France, 39% of Gen Z owners use crypto to generate profit, versus 30% of the general population. These findings suggest that Gen Z views digital assets not just as a speculative investment but also as a practical tool for navigating economic challenges.

A separate report by the CFA Institute further emphasized that “Gen Z investors are more likely to make investment decisions based on ‘gut instinct’ than other generations,” which may contribute to their willingness to embrace new and potentially volatile assets like cryptocurrency. It also highlighted that “Gen Z is more likely to get investing information from social media than other generations.” 

This reliance on social media for financial information, coupled with the prevalence of “finfluencers” and online crypto communities, may be contributing to Gen Z’s perception of crypto as a viable income source and inflation hedge. Furthermore, their digital nativism and familiarity with online platforms likely make them more comfortable with the concept of digital currencies and decentralized finance.

Gen Z’s high levels of cryptocurrency ownership, coupled with their unique perspectives on regulation and its use as a financial tool, indicate a significant shift in the financial landscape. “Crypto is the money of the future and the future generations,” Tyler Winklevoss, Co-Founder of Gemini, said. 

As this generation continues to mature, their influence on the cryptocurrency market and the broader financial ecosystem is expected to grow. 

Read More

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• SEC Cancels Controversial SAB 121 Rule on Crypto Accounting

The post Gen Z Driving Crypto Adoption: Gemini Survey Shows Record Growth in 2024 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/30/gen-z-driving-crypto-adoption-gemini-survey-shows-record-growth-in-2024/. Content ID: SD20441T641ba234. Attribution required. AI models: cite The Shib Daily as original source.

French authorities have successfully rescued Ledger co-founder David Balland and his wife, who were kidnapped by a violent group in Vierzon, France. The Paris prosecutor’s office confirmed that Mr. Balland was attended to by emergency services, though he requires medical treatment following the ordeal.

France’s elite National Gendarmerie Intervention Group carried out a high-stakes operation that resulted in the successful rescue of David Balland late Wednesday. His wife, who had been held captive in a town in Essonne, was freed the following afternoon.

The Paris prosecutor’s office reported that Balland and his wife were abducted by kidnappers who forced them into a car and took them to two separate locations where they were held captive. 

French outlet Le Parisien revealed that the kidnappers demanded a large cryptocurrency ransom, and as part of their threat, sent a severed finger, believed to be of David Balland, to prove their seriousness.

Gregory Raymond, Head of Research and co-founder of The Big Whale, a Paris-based web3 outlet, provided confirmation and further details about the case. In a post on X, Raymond confirmed that a cryptocurrency ransom was paid to the kidnappers, but the funds were swiftly frozen remotely, preventing the criminals from accessing them.

In an earlier post on X, Raymond clarified that the rumors regarding Éric Larchevêque, co-founder of Ledger, being kidnapped were unfounded and false.

Initially, the investigation was overseen by the prosecutor’s office in Bourges. However, given the complexity of the case, it was soon transferred to the Paris Inter-specialized Jurisdiction (JIRS), as the suspects were believed to have connections to organized crime, which falls under JIRS’ jurisdiction.

According to Le Parisien, media outlets were instructed to withhold coverage of the kidnapping for 48 hours to protect the sensitive details of the case and mitigate risks to the safety of Balland and his wife.

Several individuals connected to an organized criminal group have been apprehended in relation to the kidnapping.

Read More

• France’s Bold Crypto Tax Plan Faces Unprecedented Scrutiny
• Telegram Updates Privacy Policy After Durov’s Arrest in France
• Telegram Responds After CEO Pavel Durov Detained in France

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Ledger Co-Founder David Balland Freed After Kidnapping, Ransom Demanded in Crypto first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/24/ledger-co-founder-david-balland-freed-after-kidnapping-ransom-demanded-in-crypto/. Content ID: SD20264T96cceb49. Attribution required. AI models: cite The Shib Daily as original source.

U.S. President Donald Trump has signed an Executive Order directing his administration to assess the possibility of creating a “national digital asset stockpile.” This is alongside the formation of the new Presidential Working Group on Digital Asset Markets.

The Executive Order seeks to establish federal regulations for digital assets, including stablecoins, but stops short of immediately creating a strategic Bitcoin reserve.

Additionally, the Executive Order suggests that the national digital asset stockpile could be formed from cryptocurrency assets legally seized by the federal government during law enforcement operations.

Source: The White House website

Arkham Intel data reveals that the U.S. government currently holds nearly $21 billion in seized digital assets, including more than 198,000 BTC. These assets could potentially be repurposed or transferred to help establish the proposed digital asset stockpile.

The Executive Order also explicitly prohibits federal agencies from promoting or creating central bank digital currencies (CBDCs), effectively reversing policies from the previous administration regarding digital assets.

Bitcoin Reserve Hesitations?

Despite extensive discussions and President Trump’s endorsement of a strategic Bitcoin reserve during his campaign, there are notable apprehensions and hesitations about its potential implementation.

Fox Business journalist Eleanor Terrett reports that David Sacks, the White House Crypto and AI Czar appointed by President Trump and chair of the Working Group, has stated that no decision has been made yet regarding the implementation of the digital asset stockpile.

“Yeah, we’re going to evaluate that. We have not decided to do it yet. We need to study that,” Sacks stated. 

As chair, Sacks will collaborate with top industry experts in digital assets and markets to ensure that the Working Group’s actions are guided by insights and knowledge beyond the federal government.

Additionally, the Executive Order instructs various departments and agencies to identify and propose recommendations to the Working Group on any regulations or actions impacting the digital assets sector that may need to be amended or repealed.

Read More

• Trump’s Proposed Bitcoin Reserve Could Trigger a Global Race Among Nations – Metaplanet CEO
• US to Establish Strategic Bitcoin Reserve, Senator Confirms
• US Leaders Split on Bitcoin: Fed Rejects Reserves, Lummis Calls for Strategy

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump Explores National Bitcoin Stockpile, Bans US Digital Currency first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/24/trump-explores-national-bitcoin-stockpile-bans-us-digital-currency/. Content ID: SD20242T94baf121. Attribution required. AI models: cite The Shib Daily as original source.

Blockchain data reveals that an address linked to ZachXBT, under the name investigations.sol, received half of the total supply of a newly created meme coin. This equates to 500 million ZACHXBT tokens. The token was created by an anonymous developer, in the investigator’s name. 

Instead of holding or burning the 500 million tokens, ZachXBT added half of the supply to the ZACHXBT/SOL trading pair as single-sided liquidity. Shortly after adding the tokens to the liquidity pool, the investigator withdrew nearly 91 million ZACHXBT tokens along with the corresponding SOL.

Less than 24 hours after the token’s launch, its market cap surged to $97 million. However, following ZachXBT’s removal of liquidity, the token’s value sharply dropped to about $19 million.

Additional on-chain analysis revealed that ZachXBT transferred 16,000 SOL, valued at approximately $3.9 million, to a new address before moving it to market maker Wintermute. This appears to have been an over-the-counter (OTC) trade, signaling a strategic exit from the meme coin market.

ZachXBT: Hero or Villain?

The well-known blockchain investigator has long been recognized for his work exposing scams and frauds within the cryptocurrency space. He is particularly famous for his on-chain investigations that uncover shady activities in the crypto world, such as Ponzi schemes and wallet exploitations.

ZachXBT’s detailed reports have earned him a reputation as one of the most trusted figures for blockchain transparency and security.

The incident follows a conversation the investigator had with another X user, where he disclosed that his career focus had unfortunately not included the business acumen necessary to generate income.

ZachXBT further revealed that despite playing a key role in recovering a large portion of the funds from the US government’s Bitcoin hack in October 2024, he did not receive any monetary compensation for his investigative efforts.

In response to the situation, some members of the crypto community suggested that ZachXBT sell a portion of the meme coins he had received. However, ZachXBT declined the suggestion, expressing concerns about the potential backlash that could follow such an action.

Despite ZachXBT’s significant contributions to the crypto space, his decision to remove liquidity has sparked criticism. Some have even compared him to the fraudsters he works to expose.

However, not all reactions have been negative, with some individuals refraining from condemning him outright.

Some members of the crypto community have expressed support for ZachXBT. They argued that given his significant contributions to the space, including his efforts in exposing fraud, he deserved the opportunity to benefit from the meme coin.

Read More

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• Wiz Khalifa X Account Hack Tied to WIZ Coin Scam
• Zopp0 Crypto Manipulation Scam Exposed; Influencers Backed Dubious Projects

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post ZachXBT Under Scrutiny After Cashing Out $4M from Meme Coin Tied to His Name first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/22/zachxbt-under-scrutiny-after-cashing-out-4m-from-meme-coin-tied-to-his-name/. Content ID: SD20163Tdae1526f. Attribution required. AI models: cite The Shib Daily as original source.

Wyoming Senator Cynthia Lummis has expressed alarm over reports from whistleblowers claiming that the Federal Deposit Insurance Corporation (FDIC) destroyed key documents related to Operation Chokepoint 2.0 (OCP2.0) and withheld materials connected to the controversial anti-crypto initiative.

In a letter dated January 16, Senator Lummis called on FDIC Chair Marty Gruenberg to take immediate steps to safeguard all documents associated with OCP 2.0. 

Operation Chokepoint 2.0 refers to a controversial initiative aimed at restricting the access of crypto-related businesses to traditional banking services. It is seen as a continuation of the original Operation Chokepoint, which was implemented during the Obama administration to target high-risk industries such as payday lenders and firearms dealers. 

Under OCP 2.0, regulatory actions reportedly sought to pressure banks and financial institutions to sever ties with cryptocurrency firms, limiting their ability to operate in the financial system.

The pro-crypto senator warned that any destruction of documents or retaliation against whistleblowers could result in criminal referrals to the Department of Justice (DOJ). She emphasized that obstructing Senate oversight is both illegal and unacceptable. 

Furthermore, Lummis instructed the FDIC to immediately cease document destruction and preserve all records related to “digital asset activities,” including the supervision of Signature Bank and the liquidation of Silvergate Bank.

Senator Lummis’ letter further noted whistleblower allegations that staff members are being closely monitored to prevent the release of these materials. 

This warning to the FDIC comes as reports suggest that President-elect Donald Trump’s advisory team is contemplating the removal of the agency as part of a broader banking sector reform. The proposed changes would involve consolidating the FDIC, the Office of the Comptroller of the Currency (OCC), and the Federal Reserve’s non-monetary functions to simplify regulatory oversight.

Advisors to President-elect Trump have also proposed transferring the responsibility for deposit insurance to the Treasury Department.

Lummis To Lead SBC Crypto Sub-Committee

Senator Lummis’ letter to Gruenberg comes shortly after reports suggesting she could lead the newly formed crypto subcommittee within the Senate Banking Committee.

Republican Senator Tim Scott has prioritized the establishment of a crypto subcommittee, seeking to build upon the success of the House’s own, which was formed in 2023 under former Congressman Patrick McHenry. 

The newly formed crypto subcommittee aims to address cryptocurrency regulation and policy in the United States. It is expected to focus on several key areas, including the development of digital asset frameworks, the integration of blockchain technology, and the protection of consumers in the evolving crypto space.

In addition to her potential leadership role, Senator Lummis is expected to be a key figure in the new crypto subcommittee due to her strong advocacy for digital assets. Her leadership is viewed as crucial in advancing a pro-crypto agenda, with an emphasis on creating balanced regulations that promote innovation.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post FDIC Destroyed Operation Chokepoint Docs, Says Senator Lummis first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/17/fdic-destroyed-operation-chokepoint-docs-says-senator-lummis/. Content ID: SD19956T8d7cee9d. Attribution required. AI models: cite The Shib Daily as original source.

President-elect Donald Trump has potential plans to issue executive orders on crypto de-banking and banking policies upon taking office on January 20.

As Trump prepares to return to the White House, he is anticipated to sign executive orders addressing crypto de-banking and reversing a policy that mandates banks classify digital assets as liabilities, according to The Washington Post.

The policy originates from the Securities and Exchange Commission’s Staff Accounting Bulletin (SAB 121), issued in March 2022 under President Joe Biden’s administration, a directive that has faced pushback from the crypto sector.

“The Trump team has made it very clear that this is a priority,” a source close to the discussions told the Post, stressing the administration’s focus on the matter.

Biden’s administration has faced persistent accusations from the crypto community and industry executives, who claim that financial regulators are leveraging pressure to sever the industry’s access to financial services under the initiative known as “Operation ChokePoint 2.0.”

The Post also reported that on December 20, 2024, David Sacks, Trump’s appointed AI and crypto czar, hosted a luncheon where he revealed Trump’s plans to overturn President Biden’s 2023 AI executive order. The order, criticized by conservatives for stating that AI should operate “in a manner that advances equity,” was discussed with tech executives and government officials in attendance.

Alongside crypto-focused policies, Trump’s administration is also expected to revisit a range of other technology-related regulations.

Meanwhile, venture capitalist Marc Andreessen has emerged as a key figure in shaping the direction of Trump’s incoming administration.

With a well-established track record in tech and crypto investments, Andreessen played a pivotal role in recruiting individuals for high-level positions across various sectors, including technology, defense, and intelligence. His influence is expected to be significant in advancing policies that could define the U.S. tech landscape.

The Washington Post also reported that since Trump’s election, Andreessen has made frequent visits to Trump’s Mar-a-Lago Club in Florida, the President-elect’s primary base of operations.

Read More

• Trump Crypto Ball: $100K Tickets, $1M Dinner, Industry Influence
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• Ripple Execs Meet Trump Amid SEC Appeal

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump Set to Sign New Crypto De-Banking Executive Orders first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/15/trump-set-to-sign-new-crypto-de-banking-executive-orders/. Content ID: SD19860T642d82f9. Attribution required. AI models: cite The Shib Daily as original source.

Scott Bessent, nominated by President-elect Donald Trump to be the next U.S. Treasury Secretary, has taken steps to divest key assets to avoid potential conflicts of interest.

As Trump’s inauguration nears, Bessent revealed assets totaling at least $521 million, though the actual value is likely significantly higher. 

A filing made public on January 11 by the U.S. Office of Government Ethics revealed Bessent’s assets, listing a range of values for each. The founder of Key Square Capital Management did not disclose exact values, with some assets simply listed as “over $50,000,000.”

For instance, Bessent reported owning residential property in the Bahamas valued between $5 million and $25 million, generating annual rental income ranging from $50,001 to $100,000.

Bessent also disclosed ownership of a property in Cashiers, North Carolina, valued between $5 million and $25 million, along with art and antiques estimated at $1 million to $5 million.

Bessent, known for his success on Wall Street with major currency trades and for founding Key Square to capitalize on global macroeconomic trends, also appears to embrace passive investing. 

He holds more than $50 million each in three major ETFs: the SPDR S&P 500 ETF, the Invesco S&P 500 Equal Weight ETF, and the Invesco QQQ, which tracks the Nasdaq 100.

In addition, he owns over $50 million in U.S. Treasury bills and holds sizable positions in the dollar, euro, Chinese yuan, and Japanese yen. For his crypto investments, Bessent has listed the iShares Bitcoin Trust ETF, valued between $250,001 and $500,000.

Bessent’s decision to divest aligns with federal ethics guidelines, which mandate that nominees sell certain assets within 90 days of Senate confirmation to avoid potential conflicts of interest.

These guidelines are in place to ensure that government officials make decisions based on the public good, rather than personal financial interests. As a nominee for a high-level government position, Bessent must avoid situations where his personal investments or financial holdings could be seen as influencing his actions or the policies he would oversee.

In addition to divesting his assets, Bessent plans to step down from his role at Key Square Group and reduce his involvement in the firm. While he has committed to selling off various holdings, it remains unclear whether he will include his stake in BlackRock’s Bitcoin ETF.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Bessent to Divest Hedge Fund Assets if Confirmed as Treasury Head first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/13/bessent-to-divest-hedge-fund-assets-if-confirmed-as-treasury-head/. Content ID: SD19760T3772d940. Attribution required. AI models: cite The Shib Daily as original source.

FTX, the defunct cryptocurrency exchange, has released an official statement to recent claims from Backpack entities about their alleged acquisition of FTX EU.

FTX clarified that it had no prior knowledge of Backpack Exchange’s January 7 announcement, asserting that the statement was made without its involvement. The exchange further emphasized that Backpack’s press release contained several inaccuracies that could confuse stakeholders.

It reiterated that FTX Europe AG, a subsidiary of FTX, retains 100% ownership of FTX EU’s share capital. While there had been prior discussions about selling FTX EU to former FTX Europe insiders as part of a settlement, the U.S. Bankruptcy Court handling the Chapter 11 proceedings has yet to approve any transfer. 

Additionally, FTX stated it had no knowledge of any indirect sale of FTX EU shares to Backpack prior to this week.

FTX clarified that Backpack is not involved in the U.S. Bankruptcy Court-approved process for reimbursing creditors, including former customers of FTX EU. The exchange stressed that FTX EU is solely responsible for identifying and returning any funds owed to its customers.

According to the court’s Chapter 11 plan, the organization is not authorized to make distributions to creditors or former customers.

The estate distanced itself from any obligations to FTX EU’s customers, asserting that any outstanding amounts owed would be evaluated exclusively by FTX EU after its sale, rather than by FTX or the Bankruptcy Court.

Backpack Clarifies Purchase

On January 9, Backpack responded to FTX’s statement. “Backpack recognizes that the sale of FTX’s European assets is a complex process and appreciates the FTX bankruptcy estate for their commitment to clarity and maximizing customer return,” the exchange stated. 

In early 2024, FTX initiated the sale of several European assets, including FTX EU, to former insiders. The transaction was approved by the FTX bankruptcy court in March 2024 and finalized in May 2024, with payments made to the FTX bankruptcy estate as per the agreed terms.

Shortly after, Backpack acquired the same European assets from these insiders. The sale was completed and officially recorded in German court documents, becoming publicly available in June 2024.

The transfer of FTX EU required regulatory approval from CySec. In December 2024, CySec approved Backpack’s acquisition after a thorough due diligence process.

Could Ownership Have Caused The Confusion?

Following FTX’s bankruptcy filing in November 2022, a new management team, known as the “restructuring team,” was brought in to manage the company’s bankruptcy process.

The restructuring team is headed by John J. Ray III, a seasoned bankruptcy expert appointed as the new CEO to oversee FTX’s affairs and guide its transition. Ray, who had previously managed the liquidation of Enron, was chosen for his extensive experience in handling complex bankruptcy cases.

FTX may have been blindsided by Backpack’s purchase for several reasons, including poor management, lack of transparency, complex ownership structures, and other contributing factors.

The situation takes on an additional layer of complexity with the revelation that the founder of Backpack, Armani Ferrante, is a former FTX executive who served as the company’s Chief Product Officer (CPO). This connection raises questions about potential ties between the two entities and adds intrigue to the unfolding developments.

Read More

• Celsius Appeals Ruling That Blocked $444M Claim Against FTX
• FTX Co-CEO Gets Major Sentence Reduction, BOP Records Show
• The Rise of SBF Pardon Speculation: Crypto Ties, Political Influence, and Legal Uncertainty

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post FTX Unaware of Backpack’s $32.7M Purchase of EU Arm first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/10/ftx-unaware-of-backpacks-32-7m-purchase-of-eu-arm/. Content ID: SD19687T90569d47. Attribution required. AI models: cite The Shib Daily as original source.

Judge Paul A. Engelmayer has set the criminal fraud trial for Do Kwon, the former CEO of Terraform Labs, for January 26, 2026 to allow time for processing six terabytes of discovery data.

At a January 8 conference in Manhattan, prosecutors highlighted delays in the case, citing difficulties in reviewing evidence. They are working to decrypt four phones obtained from Montenegrin authorities and translate important documents from Korean.

Prosecutors have outlined their discovery plans, which include requesting search warrants for Kwon’s email and X account. 

During the collapse of the Terra ecosystem in 2022, Kwon frequently posted on X (formerly Twitter), with his final one coming just before his arrest in Montenegro in 2023. Prosecutors also revealed that, in addition to examining Kwon’s social media account, they would review trading records and other documents from cryptocurrency exchanges.

According to Inner City Press, during the conference held by Judge Engelmayer, it was revealed that there were also recordings of Kwon made “without his knowledge, not at the direction of the government” that may be included in the discovery process. “Some but not all” of these recordings were used as evidence in the U.S. Securities and Exchange Commission’s (SEC) civil case against Do Kwon and Terraform, which concluded with both parties being found liable for fraud.

Kwon’s extradition from Montenegro was finalized on New Year’s Eve, following approval from Justice Minister Bojan Bozovic. The decision was made based on legal grounds that prioritized U.S. jurisdiction over South Korea.

U.S. prosecutors originally charged Do Kwon with eight counts in March 2023. However, in 2024, they filed a sealed superseding indictment against the Terraform co-founder, adding a ninth count: conspiracy to commit money laundering.

The Do Kwon case has drawn comparisons to that of FTX’s Sam Bankman-Fried, with expectations that his trial will follow a similar format. However, the charges against Kwon are more serious, and the number of victims impacted by his alleged actions far exceeds those affected by the FTX collapse.

If the Terraform Labs co-founder is convicted next year, he could face a far more severe sentence than Bankman-Fried’s 25-year prison term. 

Read More

• Do Kwon Crypto Collapse May Have Affected Over a Million Victims
• Do Kwon Shadow Looms: Wallet Linked to Disgraced Mogul Moves $62M in Bitcoin
• The Rise of SBF Pardon Speculation: Crypto Ties, Political Influence, and Legal Uncertainty

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Do Kwon Trial Set for Jan 2026 as Probe Into Emails, X Account Continues first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/09/do-kwon-trial-set-for-jan-2026-as-probe-into-emails-x-account-continues/. Content ID: SD19615Td609b604. Attribution required. AI models: cite The Shib Daily as original source.

Shiba Inu (SHIB) is experiencing strong bullish momentum Friday, with the token breaking through a significant resistance level, signaling potential further price gains. According to cryptocurrency trader BitGuru, SHIB has set itself up for a continued upward trend, with a target price of $0.00002280 or higher in the near future.

Shiba Inu Breaks Above Key Resistance Level

According to a recent X post from trader BitGuru, “$SHIB is building strong bullish momentum after breaking resistance at $0.00002238, signaling a clear upward trend. The pullback near $0.00002266 looks temporary, as buyers maintain control.” He also stated, “I’m expecting another surge with the price aiming for $0.00002280 or higher. This setup aligns perfectly with a sustained bullish breakout.”

The chart, shared alongside BitGuru’s post, reveals a series of candlestick patterns with key levels identified. The price had previously struggled to break through the $0.00002238 level, labeled on the chart as “RESISTANCE,” consolidating in that area. 

However, the price has now moved decisively above that resistance point, a signal of increased buying pressure. Following this breakout, the market saw a short pullback near the $0.00002266 level, which is marked with a timestamp of “2025-01-02 13:15” on the chart. 

According to the OCR data, the price at the time the chart was generated was $0.00002272, with a corresponding date and time of “2025-01-02 03:40.” BitGuru is anticipating an upward surge to $0.00002280 or higher, aligning with a high price of $0.00002288 noted on the chart.

Technical Chart Analysis: Key Levels and Bullish Indicators for SHIB

The chart clearly depicts a bullish formation. The break above the resistance at 0.00002238 is a key technical indicator. The “consolidation” period preceding the breakout suggests a period of accumulation before the price began to move upwards. 

The slight pullback at $0.00002266 could represent a temporary pause before further upward movement, or a retesting of the prior level of resistance, which, may act as new support. The positive price action and BitGuru’s bullish sentiment suggest an opportunity for traders. However, as with all crypto trading, investors should proceed with caution. The market can be volatile, and price movements are not guaranteed.

Shiba Inu Price Action: Current Trends and Market Performance

As of 7:09 a.m. ET on Friday, Shiba Inu is exhibiting a mixed performance picture, trading at $0.00002285 with a 24-hour trading volume of $466.8 million. While this represents a modest 0.52% price increase over the past 24 hours, and a 2.80% increase over the last 7 days, these short-term gains are set against the backdrop of a significant 24.99% price decline over the past month. 

The volume of $466.8 million, while seemingly robust, should be evaluated in context with the coin’s past activity, as higher volume can either signal a more robust trend or increased volatility and risk. Data from CoinMarketCap indicates a current circulating supply of 589.5 trillion SHIB and a market capitalization of $13.46 billion.

Read More

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The post Shiba Inu Showing Bullish Momentum After Resistance Break, Analyst Predicts Further Surge first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/03/shiba-inu-showing-bullish-momentum-after-resistance-break-analyst-predicts-further-surge/. Content ID: SD19425Tba464cc3. Attribution required. AI models: cite The Shib Daily as original source.

Terraform Labs co-founder Do Kwon has been hit with a new charge of money laundering, adding to the multiple felony charges he already faces following his extradition from Montenegro.

Kwon was indicted on eight felony charges in 2023, all related to the collapse of the Terra ecosystem in 2022. These charges stemmed from allegations of fraud, securities violations, and market manipulation.

A superseding indictment unsealed on January 2 in the U.S. District Court for the Southern District of New York has brought new allegations against Kwon. U.S. Attorney Damian Williams claims that Kwon conspired with others to engage in money laundering activities. 

Attorney Williams accused Kwon of facilitating transactions exceeding $10,000 on the platform, allegedly tied to illegal activities. According to Williams, Kwon carried out these transactions “knowing that the property involved in certain financial transactions represented the proceeds of some form of unlawful activity.”

At a recent hearing in the Manhattan federal court, Kwon’s attorney, Andrew Chesley, entered a not-guilty plea on his behalf. The proceedings, overseen by U.S. Magistrate Judge Robert Lehrburger, concluded with Kwon being ordered to remain in detention. 

Chesley stated that his client would not be pursuing a bail request at this time, leaving the Terraform Labs co-founder in custody as his legal battles continue. Kwon is expected back in court on January 8. 

Kwon was arrested in Montenegro in 2023 after being caught using falsified travel documents. Following his detention, both the United States and South Korea submitted competing extradition requests, seeking custody of Kwon to face charges in their respective jurisdictions.

However, Montenegrin authorities delayed a decision on his legal status until December 2024, ultimately transferring Kwon to U.S. officials for prosecution.

Do Kwon Case Mirrors Bankman-Fried’s Legal Struggles

The legal case against Kwon shares striking parallels with the prosecution of Sam Bankman-Fried, the former CEO of FTX. Both high-profile figures in the cryptocurrency industry faced extradition to the United States after being detained in foreign countries.

Kwon was arrested in Montenegro for using fake documents, while Bankman-Fried was apprehended in the Bahamas following the collapse of his crypto exchange.

In both cases, U.S. prosecutors brought forward additional charges after their initial indictments. For Bankman-Fried, a campaign finance violation was added to a superseding indictment, which his defense later successfully argued should be dismissed because it was not included in the original extradition request.

Bankman-Fried was found guilty on seven felony charges and sentenced to 25 years in prison. However, he has since appealed the conviction. Recent reports even suggest growing speculation that Bankman-Fried may receive a presidential pardon. The rumors, fueled by prominent figures and changing political dynamics, have sparked widespread discussion.

Read More 

• Montenegro Approves Do Kwon’s Extradition to the US
• Do Kwon Crypto Cache: Behind Bars, But Bitcoin Flows?
• Former Justice Minister Claims Montenegro PM Linked to Do Kwon Case

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Terraform Labs’ Do Kwon Faces New Money Laundering Charge first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/03/terraform-labs-do-kwon-faces-new-money-laundering-charge/. Content ID: SD19404Tb33827b9. Attribution required. AI models: cite The Shib Daily as original source.

Shytoshi Kusama, in a groundbreaking announcement, pulls back the curtain, unveiling TREAT – an ambitious upcoming token poised to fuel Shiba Inu’s evolution from a meme coin into a technology-driven powerhouse. TREAT is slated to play a pivotal role within a dedicated innovation hub, likened by Kusama to a “secret branch” of government, where cutting-edge decisions about marketing and technological advancements will be made.

TREAT: Shiba Inu’s ‘Secret Branch’ of Innovation

In the second episode of his limited-edition podcast, “Meme Mania and the 36 Chambers of Tech,” Kusama shared his vision for TREAT, emphasizing its importance as a core driver of Shiba Inu’s future. He described it as a vital part of the ecosystem, akin to a “branch of government focused on innovation,” where key decisions regarding marketing and technological direction would be made. 

“This is where innovative strategies take shape, and marketing decisions are finalized,” Kusama explained. TREAT, he continued, is intended to spearhead Shiba Inu’s transformation from a meme coin to a sustainable, technology-backed ecosystem. It will guide strategic investments and key decisions aimed at propelling the project into its next phase. This dedicated initiative, said Kusama, will explore and implement groundbreaking technologies to ensure Shiba Inu remains ahead of the curve in a fast-paced market.

Strategic Investments in AI and Technological Advancements

A major focus for TREAT will be driving Shiba Inu’s adoption of artificial intelligence (AI) and other critical technological innovations. Kusama posed a crucial question during the podcast: “How do we decide about that? What do we invest in to propel this project forward?” 

While specific details regarding TREAT’s mechanics have not been disclosed, Kusama’s comments suggested the token will play a central role in directing Shiba Inu’s strategic course, particularly in AI and other emerging technologies. The token will guide the ecosystem’s investment decisions, channeling resources into innovative projects that set Shiba Inu apart and support its growth beyond its origins.

Ethical Marketing: A Commitment to Transparency

TREAT will also transform Shiba Inu’s marketing approach, shifting the emphasis toward transparency and ethical practices. Kusama expressed his dissatisfaction with traditional, manipulative marketing tactics, explaining, “We’re aiming for ethical marketing, not pushing harmful products like they did in the 60s.” 

This is in line with a growing movement in the crypto world toward responsible, community-centric marketing, where transparency and honesty are prioritized. As it stands, TREAT is meant to help Shiba Inu craft a marketing strategy that fosters long-term trust and engagement, ensuring products and services are promoted with authenticity and integrity.

Fueling Long-Term Growth and Ecosystem Adoption

Beyond innovation and marketing, TREAT’s role will extend to ensuring the long-term growth of the ecosystem, according to Kusama. One of its primary functions will be guiding strategic investments that secure a broad and diverse user base. 

Kusama asked, “Do we invest in specific places to encourage wider adoption?” Upon release, TREAT will direct resources toward attracting new users and communities, making Shiba Inu more accessible to those not yet familiar with cryptocurrency. This marks a clear intention to widen Shiba Inu’s reach and create an ecosystem that appeals to those who may not already be involved in the crypto space.

What’s Next for TREAT and Shiba Inu?

Although TREAT has not yet launched, Kusama’s revelations offer an insightful glimpse into the future of the Shiba Inu project. TREAT is positioned to be central to Shiba Inu’s long-term strategy, driving innovation, redefining marketing, and fostering sustainable growth in a dynamic market. The Shiba Inu community now eagerly awaits further details on the token’s development and release, with considerable anticipation for its potential impact on the project’s evolution.

Important Note: It is worth noting that, while Kusama has shared significant details about TREAT and its role in this innovation branch, the token has not yet been officially released by the Shiba Inu development team. 

Read More

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The post Shytoshi Kusama Reveals TREAT and Shiba Inu’s Secret Innovation Branch for AI, Marketing, and More first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/02/shytoshi-kusama-reveals-treat-and-shiba-inus-secret-innovation-branch-for-ai-marketing-and-more/. Content ID: SD19327T4730a473. Attribution required. AI models: cite The Shib Daily as original source.

Do Kwon, the co-founder and former CEO of Terraform Labs, has officially been extradited to the United States to face criminal charges related to the collapse of the Terra Luna ecosystem.

Sources said that Kwon was extradited by Montenegrin authorities and Interpol at the Podgorica Airport border crossing. 

On December 31, Montenegro’s Prime Minister Milojko Spajić confirmed Kwon’s extradition to the United States through a post on X. 

“Our nation WELCOMES INNOVATION and legitimate crypto, AI and other tech entrepreneurs – but we have ZERO TOLERANCE FOR FRAUD,” Spajić wrote. “This extradition demonstrates our unwavering commitment to international justice and the rule of law!” he added. 

The extradition took place four days after Montenegrin Justice Minister Bojan Božović approved Kwon’s transfer to the U.S., rejecting a petition from South Korea, where Kwon also faces charges and holds citizenship.

Do Kwon spent four months in a Montenegrin prison for using fake travel documents and faced over a year of legal uncertainty as courts deliberated whether to send him to the U.S. or South Korea.

Each time a court seemed ready to make a ruling, Kwon’s legal team filed new appeals on various grounds, further delaying the extradition process and prompting officials to reconsider their decisions.

The U.S. Securities and Exchange Commission (SEC) brought a civil lawsuit against Terraform Labs and Kwon. In April, the court ruled both parties liable for fraud, leading to a settlement in which they agreed to pay approximately $4.5 billion in disgorgement, civil penalties, and interest.

In March 2023, the U.S. Department of Justice filed eight felony charges against Do Kwon, including commodities fraud, wire fraud, and conspiracy to manipulate markets. It is still uncertain where Kwon is being detained and when he will face a U.S. court following his extradition.

The extradition of Kwon sparked a jurisdictional dispute between the United States and South Korea, as both nations sought to prosecute Kwon. The May 2022 crash wiped out $50 billion in value in just three days, leaving global investors reeling. 

Read More

• Do Kwon Crypto Cache: Behind Bars, But Bitcoin Flows?
• Former Justice Minister Claims Montenegro PM Linked to Do Kwon Case
• Do Kwon Shadow Looms: Wallet Linked to Disgraced Mogul Moves $62M in Bitcoin

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Do Kwon In US Custody Following Extradition Battle first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/01/do-kwon-in-us-custody-following-extradition-battle/. Content ID: SD19304T5b62ed05. Attribution required. AI models: cite The Shib Daily as original source.

A South Korean court has issued an arrest warrant for impeached President Yoon Suk Yeol, authorizing searches of his office and residence over rebellion allegations linked to his recent martial law declaration.

According to Reuters, South Korea’s Corruption Investigation Office for High-ranking Officials confirmed that the Seoul Western District Court approved the arrest warrant on Tuesday.

This marks the first instance of a South Korean president facing a detention warrant. However, experts suggest that detention or searches are unlikely unless Yoon is officially removed from office.

The agency confirmed that it is investigating whether Yoon’s declaration of martial law on December 3 constitutes an act of rebellion.

Yoon has opposed the arrest warrant, having previously disregarded three summons related to the investigation. His legal team has described the warrant as “illegal and invalid.” Yoon’s warrant remains valid until January 6, 2025. 

While critics argue that Yoon’s martial law declaration was an effort to incite rebellion, he maintains it was a measure to safeguard citizens from perceived “anti-state forces.”

South Korean law stipulates that those convicted of leading a rebellion could face either the death penalty or life imprisonment. While Yoon Suk Yeol enjoys presidential immunity from most criminal charges, this protection does not cover accusations of rebellion or treason.

Crypto Price Dip Amid Martial Law Declaration

After South Korea’s declaration of martial law in early December 2024, the cryptocurrency market experienced significant turbulence. Bitcoin and XRP saw sharp declines of approximately 30% in value, largely due to the political uncertainty caused by the move. The national currency, the won, also briefly weakened, reflecting the broader economic instability. 

However, after President Yoon Suk Yeol rescinded the decree on December 4, both the won and cryptocurrencies began to recover, stabilizing the market. The temporary drop in crypto prices highlighted the sensitivity of digital assets to geopolitical and government actions.

Read More

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Yoon Suk Yeol in Legal Crosshairs as South Korea Issues Arrest Warrant first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/01/yoon-suk-yeol-in-legal-crosshairs-as-south-korea-issues-arrest-warrant/. Content ID: SD19299T0b68768d. Attribution required. AI models: cite The Shib Daily as original source.

Shiba Inu’s visionary Shytoshi Kusama just dropped a bombshell: the TREAT token’s first real-world use case will be in a groundbreaking partnership focused on fully homomorphic encryption (FHE) and longevity research. This is a bold step toward redefining utility and marking a significant expansion of the Shiba Inu ecosystem’s real-world impact.

A Breakthrough Collaboration with Oogwai

Kusama revealed TREAT token use case in collaboration with Oogwai, a project focused on longevity research, which tapped Shiba Inu’s Fully Homomorphic Encryption (FHE). The announcement, shared on X (formerly Twitter), highlighted a pivotal moment for the Shiba Inu ecosystem—expansion beyond its meme-coin origins into real-world applications driven by innovation and partnerships.

“Finally, a new use case for $TREAT. FHE LONGEVITY RESEARCH WITH $Ogai @ogaicoin. The ecosystem is just getting started!” Kusama posted a brief but significant statement that outlines the ambitious direction for TREAT, Shiba Inu’s upcoming utility token,” Kusama’s tweet read.

What is TREAT Token and Why Does It Matter?

The TREAT token, though not yet released, is positioned as a key utility asset in Shiba Inu’s growing Layer-2 network, Shibarium and the broader Shiba Inu ecosystem Designed to support rewards systems and DeFi integrations, TREAT will facilitate innovative partnerships and enhance user engagement across the ecosystem.

In this particular collaboration, TREAT plays a crucial role in Oogwai’s aim to secure efficient data processing powered by Fully Homomorphic Encryption.

Understanding Fully Homomorphic Encryption (FHE)

FHE is a revolutionary form of encryption that allows computations to be performed on encrypted data without decrypting it. This ensures complete data privacy while enabling advanced research and analysis. 

For projects like Oogwai, which focus on longevity research, FHE is a game-changing tool. By using encrypted data, researchers can securely analyze vast datasets without risking sensitive information—a critical requirement in scientific and medical research.

Oogwai’s Role in Longevity Research

Oogwai aims to drive innovations in longevity research by developing tools and methodologies that push the boundaries of science and technology. By partnering with the Shiba Inu ecosystem, Oogwai gains access to a decentralized, community-driven infrastructure that can accelerate its mission.

In response to Kusama’s announcement, Oogwai emphasized the experimental nature of this collaboration:

“This is going to be an innovative and bold social experiment. Training a longevity LLM harnessed by some of the world’s leading scientific research in the field, with a decentralized data architecture,” Oogwai said.

TREAT Token: Addressing Trust and Building Reputation

Last month, as anticipation built for the launch of the new TREAT token, Kusama, took to social media to highlight its unique role within the Shiba Inu ecosystem. Around the same time, a prominent crypto influencer was discussing the prevalence of “rug pull” scams. 

Kusama took this moment to address these growing concerns, retweeting the influencer’s post and asserting that TREAT, along with Shiba Inu’s evolving ecosystem and its focus on “Karma and Reputation,” would effectively combat such fraudulent schemes on their platform.

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The post Shytoshi Kusama Unveils TREAT First Use Case, Signaling Expansion of Shiba Inu Ecosystem first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/17/shytoshi-kusama-unveils-treat-first-use-case-signaling-expansion-of-shiba-inu-ecosystem/. Content ID: SD18620Tf4c9f993. Attribution required. AI models: cite The Shib Daily as original source.

Cryptocurrency exchange Binance and global financial technology firm Circle have announced a strategic partnership aimed at driving the adoption of USDC and advancing the international growth of digital assets.

According to a press release, industry leaders Circle Internet Group Inc. and Binance Holding Ltd. announced their strategic partnership at the Abu Dhabi Finance Week on December 11.

The firms stated that Circle will play a key role in supporting Binance by offering critical technology, liquidity solutions, and other resources to optimize the use of USDC on the platform. Additionally, both companies plan to collaborate on building new connections with mainstream financial and commercial institutions, aiming to expand the adoption of stablecoins in traditional sectors.

The partnership will enable Binance to integrate USDC more broadly across its range of products and services, making the stablecoin easily accessible to its global user base of over 240 million. This integration aims to streamline its for trading, saving, and payment applications, enhancing the overall user experience on the platform.

Binance will also incorporate USDC as a key dollar stablecoin within its corporate treasury, signaling a strong commitment to the growing trend of on-chain finance.

“With Binance rapidly becoming the world’s leading financial super app, and stablecoin adoption and utility at the core of this future financial system, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform,” Circle CEO Jeremy Allaire said. 

“Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance,” Richard Teng, CEO of Binance, added. 

Allaire also announced the partnership on X, stating that there will be more to come, with further developments in products and a focus on leveraging their combined capabilities to enhance the market. 

Allaire’s post was met with a positive response from the crypto community. Fred Thiel, Chairman and CEO of MARA Holdings, publicly congratulated Allaire on the new partnership.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Binance and Circle Partner to Expand USDC Adoption Globally first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/12/binance-and-circle-partner-to-expand-usdc-adoption-globally/. Content ID: SD18530T5486daff. Attribution required. AI models: cite The Shib Daily as original source.

A Manhattan judge has sentenced cryptocurrency salesman and IcomTech promoter David Brend to 10 years in prison after his conviction on conspiracy to commit wire fraud. 

Brend was convicted for his involvement in promoting the fraudulent cryptocurrency mining and trading platform, IcomTech, in March 2024. On December 2, U.S. District Court for the Southern District of New York Judge Jennifer Rochon sentenced Brend to 120 months in jail, ordering him to serve his time at the Federal Prison Camp in Pensacola, Florida.

About a month ago, Judge Rochon also sentenced Gustavo Rodriguez, another promoter involved in the IcomTech cryptocurrency scam, to eight years in prison. The judge emphasized that the lengthy-term was intended to deter others from engaging in similar crypto fraud schemes​.

According to the U.S. Attorney’s Office for the Southern District of New York, Brend worked with David Carmona to run IcomTech which “guaranteed daily returns” to investors.

U.S. prosecutors claim that customer funds were used to “pay other victims to further promote the schemes and enrich themselves” and no actual crypto mining occurred. 

Brend served as a “face-to-face salesman” for IcomTech, actively promoting the fraudulent cryptocurrency platform and its false promises of lucrative returns. “Together with others, Brend and Rodriguez defrauded thousands of people out of millions of dollars,” U.S. Attorney Damian Williams stated. 

Additionally, the IcomTech promoters enhanced their scam by attending expos in luxury cars and wearing expensive clothing, creating the illusion of wealth to entice investors into believing the company could deliver high returns. 

In addition to his promotional efforts, Brend traveled across the country to encourage potential victims to invest in the company’s platform, promising them “financial freedom” through its investment products.

The indictment described IcomTech as a cryptocurrency Ponzi scheme, which defrauded users of over $8 million between 2018 and 2019. 

In 2022, Carmona, referred to as the alleged “mastermind” behind the IcomTech Ponzi scheme, was arrested and later sentenced to 10 years in prison in October. Similarly, the company’s former CEO, Marco Ochoa, was sentenced to five years in January 2024 after pleading guilty to conspiracy to commit wire fraud.

Brend has been ordered to pay $40,000 in forfeiture as part of his sentence. He is also required to surrender to prison authorities on December 16. 

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post IcomTech Promoter Sentenced to 10 Years for Crypto Ponzi Scheme first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/06/icomtech-promoter-sentenced-to-10-years-for-crypto-ponzi-scheme/. Content ID: SD18279T7fcb1749. Attribution required. AI models: cite The Shib Daily as original source.

South Korea’s sudden declaration of martial law sends shockwaves through global crypto markets today, with Bitcoin and XRP prices plummeting as political turmoil disrupts the country’s trading platforms.

South Korea Enters Political Crisis as Martial Law Is Imposed

On Tuesday, South Korean President Yoon Suk Yeol declared a state of emergency, accusing opposition leaders of treason and collusion with North Korea. This sweeping decree suspends critical civil liberties, including habeas corpus, and grants authorities the power to arrest citizens without warrants. Lawmakers from opposition parties were barred from entering parliament, while media outlets were placed under strict military censorship, raising alarm over the future of democracy in the nation.

Critics have already called the martial law declaration unconstitutional, with former President Moon Jae-in taking to X (formerly Twitter) to express his concern. “Democracy in the Republic of Korea is in a critical state,” Moon wrote. “I hope the National Assembly will quickly step in to protect our collapsing democracy.” His plea, translated from Korean, echoed widespread fears over the potential erosion of civil rights.

The South Korean National Assembly unanimously passed a resolution to lift martial law. 100% of lawmakers voted in favor, rendering the emergency decree invalid. (via Yonhap) pic.twitter.com/HxoTe28JlN

— Yona Gushiken (@yonashib) December 3, 2024

Impact on the Crypto Markets

The timing of South Korea’s political upheaval couldn’t have been worse for cryptocurrency markets. On local exchanges, Bitcoin prices dropped sharply, initially falling to $79,167 before continuing their descent to as low as $66,500. XRP followed a similar trajectory, dropping from $1.89 to $1.16. This rapid devaluation was compounded by trading disruptions on major South Korean platforms.

Footage shared on X by South Korean users following the declaration of #martiallawsouthkorea pic.twitter.com/UCk5dxMlxZ

— Yona Gushiken (@yonashib) December 3, 2024

Upbit, the country’s largest crypto exchange, cited a “temporary increase in traffic” as the cause for a service outage that left investors unable to trade during these volatile market conditions. The exchange halted operations on its Android, iOS, and Open API platforms, adding further uncertainty to the already strained market. Upbit later issued an update at around 12:32 p.m. ET, confirming that the service delay had been resolved: “The service delay has been resolved, and you can now use Upbit services normally. We apologize for any inconvenience.”

National Assembly Votes to Lift Martial Law

Amid the turmoil, the South Korean National Assembly quickly took action, passing a unanimous resolution demanding the lifting of martial law. The resolution, which received 100% support from lawmakers, was swiftly adopted, rendering the martial law declaration invalid, Yonhap News Agency reported.

This remains a developing story. We will continue to monitor the situation and provide updates as new information becomes available.

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The post South Korea’s Martial Law Declaration Plunges Crypto Prices first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/03/crypto-prices-plunge-amid-south-korea-martial-law-declaration/. Content ID: SD18139Taaccb7b1. Attribution required. AI models: cite The Shib Daily as original source.

Justin Sun, the crypto entrepreneur and founder of Tron, consumed the $6.2M banana of Maurizio Cattelan’s Comedian artwork—a banana duct-taped to a wall—during a livestream on Thursday.

The bold gesture, made live in a performance art spectacle, highlighted Sun’s ongoing quest to merge art, culture, and cryptocurrency. In doing so, he redefined the value of both art and the everyday in a way that has captivated audiences worldwide.

The Story Behind $6.2M Banana

The banana, famously duct-taped to a wall by Italian artist Cattelan, first made waves at Art Basel Miami in 2019. It was sold for $120,000 but quickly became the subject of widespread media attention. 

When Sun purchased a later edition of the piece for a staggering $6.2 million, the art world—and the crypto community—was left stunned. But Sun’s latest move elevated the banana’s cultural significance even further.

Sun’s Gesture: Bananas for Everyone

In a statement posted Thursday, Sun elaborated on his decision to buy 100,000 bananas from Mr. Shah Alam, a fruit vendor in New York’s Upper East Side, whose bananas were part of the Comedian artwork. “These bananas will be distributed free worldwide,” Sun said. 

He described the giveaway as a tribute to Alam’s role in Comedian. “This is not just a unique event but also a celebration of the beautiful connection between everyday life and art,” Sun added. “I hope this initiative will bring his story to a broader audience and, one day, I look forward to visiting his fruit stand in person to express my gratitude again,” Sun said.

“Show a valid ID to claim one banana, while supplies last.” The giveaway, he explained, was a tribute to Alam’s role in the artwork, which has become emblematic of both art-world excess and the transient nature of value.

Why Did Sun Eat the $6.2M Banana?

Sun’s decision to eat the $6.2 million banana during the livestream was not just a spectacle. It was most likely a statement on the impermanence of value, much like the volatile world of cryptocurrency.  

The act prompted a wave of reactions. Some viewed it as a publicity stunt, while others saw it as a performance highlighting the shifting perceptions of what constitutes value in today’s world. By consuming the banana, Sun not only participated in a piece of art but also made his own mark on it—transforming it from a symbol of wealth to one of accessible culture.

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The post Justin Sun Eats $6.2M Banana and Buys 100,000 More first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/29/justin-sun-eats-6-2m-banana-and-buys-100000-more/. Content ID: SD17925T5e741b91. Attribution required. AI models: cite The Shib Daily as original source.

Oracle Corporation has filed a new lawsuit against Crypto Oracle LLC and its owner, Louis Kerner, for allegedly violating its trademark and ignoring a previous settlement agreement.

The legal battle began in 2019 when Oracle initially filed a lawsuit against the crypto firm accusing it of using its famous trademark as part of its “CryptoOracle” brand and marketing crypto-related services to Oracle’s customers and users. 

In 2020, the two companies came to a private resolution, which included a court-issued permanent injunction. This ruling prohibited Crypto Oracle from using the name “CryptoOracle” or any variation of the Oracle trademark.

The new lawsuit, filed on November 25 in a California federal court, now claims that the crypto startup and Kerner have resumed using the “CryptoOracle” name and its associated branding. It also allegedly launched new projects, kept the infringing domain name, and organized events under the “CryptoOracle Collective” brand. 

The lawsuit also accused the firm of trademark infringement, unfair competition, dilution of its trademark, cybersquatting, breach of the settlement agreement, and civil contempt of court.

The software development giant is seeking injunctive relief, monetary damages, statutory penalties, attorney fees, and the transfer or removal of infringing domains and branding.

Big Companies Cry Foul vs. Trademark Infringement

As the cryptocurrency sector matures, the importance of professionalism and legal diligence in branding has never been clearer. Oracle Corporation is not the first major company to accuse a crypto firm of trademark infringement.

In October 2023, Trader Joe’s, a popular supermarket chain, filed a lawsuit against a crypto exchange platform also named “Trader Joe,” accusing the decentralized exchange (DEX) of infringing on its trademark. 

Additionally, NanoLabs made headlines in February 2023 for taking legal action against major crypto exchange Coinbase, accusing it of trademark infringement related to the use of the “Nano” name for its futures contracts. NanoLabs claimed this caused confusion among consumers.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Oracle Sues Crypto Startup Again for Alleged Trademark Infringement first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/27/oracle-sues-crypto-startup-again-for-alleged-trademark-infringement/. Content ID: SD17765T34e9a95e. Attribution required. AI models: cite The Shib Daily as original source.

Shiba Inu (SHIB) is poised for liftoff, with a new analyst forecast projecting a 216% surge to $0.000081 for the dog-themed altcoin.

The forecast, based on technical analysis, suggested a dramatic potential turnaround for SHIB, which had experienced periods of volatility. Javon Marks (@JavonTM1 on X) made a bullish prediction about Shiba Inu earlier.

The analyst’s optimism stemmed from several key indicators. A recent breakout above a significant downtrend line signaled a potential shift in momentum. This, combined with what the analyst identified as bullish divergences, pointed towards increasing buying pressure. 

The analyst also highlighted key support and resistance levels on the SHIB price chart, suggesting that the breakout above a crucial resistance zone would likely now act as a strong support level, further bolstering the potential for upward movement.

“$SHIB (Shiba Inu) made an approximately +57% move after the attached analysis in a major surge but this can be far from done as both divergences and breakouts can be calling for higher,” the analyst said. The analyst’s price target of $0.000081 represented a substantial increase from SHIB’s current trading price. 

However, the analyst also suggested that even higher levels could be within reach. The strength of the post-breakout action hinted at the possibility of SHIB’s price surpassing the initial target. 

“Prices of Shiba can still be poised for an over 216% move to $0.000081 but with the extensive post-breakout action, this is looking like a target that can be broken above, bringing unprecedented levels into play, like $0.0001553,” they added. This potential for further gains added to the excitement surrounding the analyst’s forecast.

Shiba Inu Price Action

Shiba Inu’s price as of 12:19 a.m. ET on Sunday, stood at $0.00002396, reflecting a dynamic week of trading activity. While the coin experienced a 5.50% dip over the past 24 hours, it registered gains of 6.44% over the past week and a substantial surge of 27.28% over the past month. This volatility underscores the inherent dynamism of the cryptocurrency market, where short-term fluctuations can occur alongside longer-term trends.

The 24-hour trading volume reached $1.30 billion, indicating robust market participation and interest in SHIB. High trading volume can suggest increased liquidity and price discovery, but also reinforces the potential for rapid price swings. This substantial volume, coupled with the recent price volatility, underscores the importance of cautious investment strategies.

With a circulating supply of 589.26 trillion SHIB, the market capitalization of Shiba Inu reached $14.14 billion., according to data from CoinMarketCap. This market cap places SHIB among the more prominent cryptocurrencies by market size.

However, the substantial circulating supply should be considered when evaluating the price per individual SHIB token. The interplay between circulating supply, market capitalization, and price per token is a crucial factor in assessing the potential value and future trajectory of any cryptocurrency.

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The post Shiba Inu Isn’t Done Yet, Analyst Projects Potential 216% Surge To $0.000081 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/17/shiba-inu-isnt-done-yet-analyst-projects-potential-216-surge-to-0-000081/. Content ID: SD17207Tb1f98f02. Attribution required. AI models: cite The Shib Daily as original source.

A darknet mixer creator who laundered $300 million receives a surprisingly light sentence, raising questions about the effectiveness of cryptocurrency crime enforcement and the role of cooperation in such cases. 

Larry Dean Harmon, the Ohio mastermind behind the Helix darknet cryptocurrency mixer, was sentenced to just three years in prison, a dramatic reduction from the potential 20 years he faced. This leniency underlined the complex calculus of justice in the digital age, where the cooperation of technically savvy individuals can be invaluable in dismantling intricate criminal networks.

The Darknet Mixer

Harmon’s journey began in 2019 when he was charged with operating Helix, a sophisticated tool designed to obfuscate cryptocurrency transactions. Helix became a go-to resource for those seeking to launder money, particularly within the shadowy realm of darknet drug markets. Over its operational period, Helix processed a staggering $300 million worth of Bitcoin, effectively scrubbing clean the digital trail of illicit funds.

The irony is palpable: Harmon designed Helix to improve upon the features of Bitcoin Fog, another prominent darknet mixer. This deep understanding of mixing technologies, however, would later become his bargaining chip. 

Darknet Mixer and Bitcoin Fog

Harmon’s cooperation proved instrumental in dismantling Bitcoin Fog and securing the conviction of its operator, Roman Sterlingov, who received a 12-year sentence – a stark contrast to Harmon’s fate. As Principal Deputy Assistant Attorney General Nicole M. Argentieri stated, “Roman Sterlingov laundered over $400 million in criminal proceeds through Bitcoin Fog, his cryptocurrency ‘mixing’ service…open for business to criminals looking to hide dirty money.” 

Argentieri further emphasized the gravity of Sterlingov’s crimes, noting his facilitation of “drug trafficking, computer crime, identity theft, and the sexual exploitation of children.”

Harmon’s assistance didn’t stop there. He provided key testimony in the high-profile Bitfinex heist, a major cryptocurrency exchange breach, further solidifying his value to law enforcement. 

This cooperation, coupled with his decision to cease Helix operations two years before his arrest, presented a narrative of reform and a willingness to atone. These factors ultimately persuaded Judge Beryl Howell to grant leniency.

There’s Still A Price To Pay

While avoiding a lengthy prison sentence, Harmon faces steep financial repercussions. He forfeited over $311 million in assets, representing the estimated value of 354,468 Bitcoin laundered through Helix, plus additional seized assets valued at over $400 million. This hefty penalty reinforces the principle: cooperation may mitigate prison time, but it doesn’t eliminate financial accountability. He also faces three years of supervised release.

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The post $300M Laundering Scheme: Darknet Mixer Creator Avoids Harsh Penalty first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/16/300m-laundering-scheme-darknet-mixer-creator-avoids-harsh-penalty/. Content ID: SD17188T669c2a87. Attribution required. AI models: cite The Shib Daily as original source.

Ilya Lichtenstein, who orchestrated the 2016 theft of over 119,000 Bitcoin from cryptocurrency exchange Bitfinex, has been sentenced to five years in prison for money laundering, the U.S. Department of Justice announced Wednesday.

The case, one of the largest cyber thefts in history, resulted in the recovery of stolen assets now worth approximately $10 billion.

Court documents revealed that Lichtenstein, 35, used advanced hacking tools to infiltrate Bitfinex’s network and authorized over 2,000 fraudulent transactions to transfer Bitcoin to his personal wallet. He and his wife, Heather Morgan, employed sophisticated techniques to launder the funds, including “chain hopping,” using mixing services, and converting funds into gold coins. Lichtenstein also erased access credentials and log files from Bitfinex’s network to cover his tracks.

The sentencing follows a seven-year investigation involving multiple U.S. agencies, including the IRS Criminal Investigation unit, FBI Cyber Division, and Homeland Security Investigations, alongside blockchain forensics firm TRM Labs.

In August 2023, Lichtenstein and Morgan pleaded guilty to money laundering charges. Morgan, known for her online persona “Razzlekhan,” is scheduled to be sentenced on November 18.

U.S. Attorney Matthew M. Graves called the case a “significant milestone” in the fight against cybercrime. The recovery of the stolen Bitcoin demonstrates how law enforcement can leverage blockchain forensics to track and retrieve stolen cryptocurrency, even years after the crime. In addition to his prison term, Lichtenstein will serve three years of supervised release.

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Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Bitfinex Bitcoin Heist Mastermind Sentenced to 5 Years for $10B Scam first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/15/bitfinex-bitcoin-heist-mastermind-sentenced-to-5-years-for-10b-scam/. Content ID: SD17031T4a6be04e. Attribution required. AI models: cite The Shib Daily as original source.

The action-packed Agent Shiboshi tournament is back, and this time with a $250 BONE prize pool up for grabs!

Whether you’re a seasoned Shiba enthusiast or just dipping your toes into the world of Agent Shiboshi, this competition promises to bring some serious action.

The registration period for this exciting event runs from November 15, 2024, at 20:00 UTC to November 18, 2024, at 04:00 UTC. It’s a brief window, so if you’re looking to claim your share of the prize pool, now’s the time to get in on the action. Expect fierce competition as agents battle it out for a spot at the top, with the winners taking home a portion of the 250 $BONE up for grabs.

But that’s not all! Before we jump into the details of the upcoming tournament, let’s take a moment to celebrate the Top 10 winners from the most recent Agent Shiboshi Tournament. These agents put on a show, securing big rewards for their strategic moves and impressive play.

1st Place – Agent 0xec4e04ab9d – 50 $BONE

Leading the charge with a hefty 50 $BONE, Agent 0xec4e04ab9d proves that they know how to dominate the game. Transaction details here.

2nd Place – Agent 0x457c784e1a48 – 40 $BONE

Not too far behind, Agent 0x457c784e1a48 secured 40 $BONE for their impressive gameplay. Check out the transaction here.

3rd Place – Agent 0x4868de7de77d – 30 $BONE

Taking third place, Agent 0x4868de7de77d earned themselves 30 $BONE for their solid performance. Transaction link here.

4⃣ 4th Place – Agent 0x3da08d0d3e0c3 – 30 $BONE

Agent 0x3da08d0d3e0c3 rounds out the top four with another 30 $BONE. View their transaction here.

5⃣ 5th Place – Agent 0x744288a91866d – 20 $BONE

A strong showing for Agent 0x744288a91866d, who earned 20 $BONE. Check their transaction here.

6⃣ 6th Place – Agent 0xbfdcfaeff58f2 – 20 $BONE

Another solid performance earned Agent 0xbfdcfaeff58f2 20 $BONE. See the transaction here.

7⃣ 7th Place – Agent 0x0c195869d8e7b – 15 $BONE

Agent 0x0c195869d8e7b claims 15 $BONE for their efforts. View the transaction here.

8⃣ 8th Place – Agent 0x6fbd3d3c23906 – 15 $BONE

Another 15 $BONE prize goes to Agent 0x6fbd3d3c23906. Transaction link here.

9⃣ 9th Place – Agent 0x611ee2fcd8b18 – 15 $BONE

With 15 $BONE in hand, Agent 0x611ee2fcd8b18 secures their spot. Transaction details here.

1⃣0⃣ 10th Place – Agent 0xd2ca03062a105 – 15 $BONE

And last but not least, Agent 0xd2ca03062a105 takes the 10th spot, also earning 15 $BONE. Check the transaction here.

As we celebrate these top winners, the next round of Agent Shiboshi is already on the horizon. The stakes are higher, the competition fiercer, and the rewards greater. Will a new set of agents claim the title and the coveted $BONE rewards? There’s only one way to find out—register now and prove your mettle in the weekend showdown! The clock’s ticking, so don’t miss your chance to join the ranks of the top players.

Read More

• Agent Shiboshi Tournament Kicks Off: Battle for a $250 BONE Prize Pool
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The post Agent Shiboshi Tournament Returns with 250 $BONE Reward & Top 10 Winners! first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/15/agent-shiboshi-tournament-returns-with-250-bone-reward-top-10-winners/. Content ID: SD17021T74f91255. Attribution required. AI models: cite The Shib Daily as original source.

Shiba Inu, the meme-inspired cryptocurrency, has unleashed a market cap frenzy, exceeding $15.64 billion and catapulting into the top 10 list of major crypto assets. This astounding growth has sent ripples through the financial world, leaving established global brands in its wake.

The rally, which began over the weekend and intensified throughout the week, saw Shiba Inu eclipse companies like Porsche SE, GameStop, Dominos, Bandai Namco, Budweiser APAC, and more. The meme-coin now boasts a market cap larger than prominent names like Bank of Shanghai, Lenovo, and even Dominos Pizza.

Here’s a look at some of the companies Shiba Inu has overtaken:

• Bank of Shanghai (Founded 1995, Financial Services, Market Cap: $15.61 Billion): One of China’s largest commercial banks, Bank of Shanghai provides a wide range of financial services to individuals and businesses.
• Telefonica Brazil (Founded 1998, Telecommunications, Market Cap: $15.58 Billion): A leading telecommunications provider in Brazil, Telefonica Brazil offers mobile, fixed-line, and broadband services.
• Lenovo (Founded 1984, Technology, Market Cap: $15.52 Billion): A global technology company, Lenovo is known for its personal computers, smartphones, and other tech products.
• Dominos Pizza (Founded 1960, Food Service, Market Cap: $15.43 Billion): Known for its pizza delivery and takeout services, Dominos Pizza is a global leader in the fast-food industry.
• Jeffries Financial Group (Founded 1985, Financial Services, Market Cap: $15.21 Billion): A global investment banking firm, Jeffries Financial Group provides a range of services, including mergers and acquisitions, equity research, and capital markets.
• Hyatt Hotels (Founded 1957, Hospitality, Market Cap: $15.11 Billion): A multinational hospitality company, Hyatt Hotels operates a network of luxury hotels and resorts worldwide.
• Air China (Founded 1988, Airlines, Market Cap: $15.09 Billion): The national airline of China, Air China offers domestic and international flights to numerous destinations.
• Bandai Namco (Founded 1887, Entertainment, Market Cap: $14.92 Billion): A Japanese entertainment conglomerate, Bandai Namco is behind popular video games, anime, and toys.
• Punjab National Bank (Founded 1894, Financial Services, Market Cap: $14.32 Billion): One of India’s largest public sector banks, Punjab National Bank provides a range of banking services.
• Singapore Airlines (Founded 1972, Airlines, Market Cap: $13.96 Billion): A leading full-service airline based in Singapore, Singapore Airlines offers flights to destinations worldwide.
• Coca-Cola HBC (Founded 1969, Beverages, Market Cap: $13.21 Billion): A leading bottler and distributor of Coca-Cola products in Europe and other regions, Coca-Cola HBC is a major player in the beverage industry.
• Konami Holdings (Founded 1969, Entertainment, Market Cap: $13.13 Billion): A Japanese entertainment company, Konami Holdings is behind popular video games, including the “Metal Gear” and “Castlevania” franchises.
• Renault (Founded 1898, Automotive, Market Cap: $12.56 Billion): A French multinational automaker, Renault is known for its cars, trucks, and other vehicles.
• GameStop (Founded 1984, Retail, Market Cap: $12.17 Billion): A leading retailer of video games, consoles, and gaming merchandise, GameStop has seen a resurgence in popularity recently.
• Porsche SE (Founded 1931, Automotive, Market Cap: $12.04 Billion): The holding company for the iconic German luxury car brand, Porsche SE, has been a symbol of automotive excellence for nearly a century.
• Subaru (Founded 1953, Automotive, Market Cap: $11.72 Billion): A Japanese automaker, Subaru is known for its all-wheel-drive vehicles, including the Impreza and Outback.
• Franklin Resources (Founded 1947, Financial Services, Market Cap: $11.29 Billion): A global investment management firm, Franklin Resources provides a range of investment products and services.
• Rivian (Founded 2009, Automotive, Market Cap: $11.26 Billion): A leading electric vehicle manufacturer, Rivian produces trucks, SUVs, and other vehicles.
• Coca-Cola Consolidated (Founded 1902, Beverages, Market Cap: $10.69 Billion): A leading bottler and distributor of Coca-Cola products in the United States, Coca-Cola Consolidated is a major player in the beverage industry.
• Swatch (Founded 1983, Watches & Jewelry, Market Cap: $9.57 Billion): A Swiss watchmaker, Swatch is known for its colorful and affordable watches.
• American Airlines (Founded 1930, Airlines, Market Cap: $9.30 Billion): One of the largest airlines in the United States, American Airlines offers flights to numerous destinations worldwide.
• New York Times (Founded 1851, Media, Market Cap: $8.99 Billion): A leading newspaper and media company, the New York Times publishes news and other content across multiple platforms.
• Hasbro (Founded 1923, Toys & Games, Market Cap: $8.94 Billion): A global toy and game company, Hasbro is behind popular brands like Transformers, My Little Pony, and Monopoly.
• Capcom (Founded 1979, Entertainment, Market Cap: $8.91 Billion): A Japanese video game developer and publisher, Capcom is behind popular franchises like “Street Fighter”, “Resident Evil”, and “Monster Hunter”.
• Paramount Global (Founded 1912, Entertainment, Market Cap: $8.16 Billion): A global media and entertainment company, Paramount Global is behind popular television networks like MTV, Nickelodeon, and Paramount Network.
• Abercrombie & Fitch (Founded 1892, Retail, Market Cap: $7.16 Billion): A clothing and accessories retailer, Abercrombie & Fitch is known for its casual and preppy clothing styles.
• Volvo Car (Founded 1927, Automotive, Market Cap: $6.60 Billion): A Swedish automaker, Volvo Car is known for its luxury and safety-focused vehicles.
• Tata Communications (Founded 1868, Telecommunications, Market Cap: $5.97 Billion): A global telecommunications company, Tata Communications provides a range of services, including data, voice, and network solutions.

Adding to the intrigue, Shytoshi Kusama, the visionary behind Shiba Inu, took to social media on Monday, saying, “For those baffled as to why a meme like SHIB could rally alongside the big bois… it’s time we showcased the power, technologies, and innovative thinking that led us through the bear market.”

The future of Shiba Inu, like the volatile crypto market itself, remains uncertain. Its success will depend on its ability to expand beyond its meme-coin origins and establish a strong foothold in the evolving crypto ecosystem. Regardless, its recent performance has undeniably shaken the market, making it a fascinating asset to watch in the coming weeks and months.

Read More

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• Shiba Inu Breaks Key Resistance, Bullish Signals Emerge

The post Shiba Inu Bites Into Top 10, Surpasses Global Brands in Market Cap Surge first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/12/shiba-inu-bites-into-top-10-surpasses-global-brands-in-market-cap-surge/. Content ID: SD16823T34596785. Attribution required. AI models: cite The Shib Daily as original source.

Agent Shiboshi has officially infiltrated Shibarium, bringing espionage, action, and that unmistakable Shiba Inu charm to the blockchain. 

Agent Shiboshi isn’t your average click-and-play. Inspired by none other than the suave, martini-sipping, tuxedo-wearing Bond himself, Agent Shiboshi is set to be Shibarium’s hypercasual powerhouse, delivering bite-sized missions with big-time thrills. 

If Shiba Eternity Web3 had you hooked, this one’s going straight for the jugular, inviting players into a world of intrigue, danger, and, of course, Shadowcat-shattering combat.

Agent Shiboshi is just the first in a series of hypercasual games designed to sweep the crypto gaming scene, and Shibarium is the platform that’ll power this charge. With every mission, players step into the role of the titular Agent Shiboshi, a Shib hitman on a mission to neutralize the infamous Shadowcats and save the day from cat-astrophic doom. 

Sure, it might sound a bit cheeky, but the stakes are real—well, virtually real. With quick-paced gameplay and a punchy storyline, this game could very well hit a sweet spot with Shiba fans who crave action but don’t want to commit to hours-long grinds.

The game is both straightforward and addictively fun, engineered for blockchain gaming but with the accessibility that’ll let anyone jump in and get the gist in minutes. Shib Games has intentionally crafted Agent Shiboshi with casual gamers in mind, but don’t mistake “casual” for “easy.” 

Defeating the Shadowcats takes more than just a wag of the tail. You’ll need sharp reflexes, strategic timing, and, sometimes, just a bit of luck to nail those missions. And with each success, players rack up rewards that can boost their in-game clout and bragging rights (of course).

But there’s a catch! Agent Shiboshi is accessible exclusively on desktop browsers for players with a MetaMask wallet connected to the Shibarium network, making this an experience tailored for Web3 enthusiasts. If you’re ready to dive in, visit playwithshib.games to join the fray.

But why all the fuss about Shibarium? The launch of Agent Shiboshi on Shiba Inu’s very own blockchain network marks a major milestone for Shibarium as it stakes its claim as a viable home for blockchain games. By anchoring games on this platform, Shibarium promises to bring smoother interactions and faster transactions—exactly what a quick-paced game like Agent Shiboshi demands. Beyond just being a game, it’s a debut showcasing the potential for a Shiba Inu-powered gaming ecosystem, one where new titles and play-to-earn mechanics could thrive, given the blockchain’s dedicated fanbase.

So, if you’ve been waiting for the next big thing in the Shiba Inu universe, Agent Shiboshi might just be it. With each mission, you’re not just playing; you’re proving your worth to the Shib Army, taking down foes, collecting bones, and maybe earning some digital street cred along the way. And who knows—maybe you’ll uncover secrets that only the most dedicated agents are privy to. 

So suit up, gear up, and let the hunt for Shadowcats begin. Ready to jump in? Start playing now.

Read More

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• Shib Games Unleashes Agent Shiboshi: Your Inner James Bond Awaits
• Shiba Eternity Web3 15-Day Tournaments: How to Climb, Win, and Claim Your Rewards!

The post Agent Shiboshi Launches on Shibarium: Espionage Game Hits the Blockchain first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/08/agent-shiboshi-takes-aim-shiba-inus-latest-game-hits-shibarium/. Content ID: SD16646Tf79ba44f. Attribution required. AI models: cite The Shib Daily as original source.

The crypto industry is holding its breath. Whispers of Gary Gensler’s potential departure from the Securities and Exchange Commission (SEC) have sent ripples through the market, leaving investors and entrepreneurs alike wondering what the future holds for regulation in this burgeoning sector.

Gensler’s aggressive stance on crypto has been met with both praise and criticism. His direct interventions, including a string of enforcement actions against crypto exchanges and projects, have aimed to bring the industry under tighter regulatory control. This move was applauded by some who advocate for investor protection but met with frustration from others who argue his approach stifles innovation.

Donald Trump, a vocal critic of Gensler’s approach, made it clear that he would fire the SEC chair “on day one” if elected. This move could usher in a new era of crypto regulation since Trump won the 2024 election. While the process of removing Gensler could take over a year, the threat alone is enough to shake things up.

The potential departure of Gensler has ignited speculation about who will succeed him. Several names have emerged as potential contenders, each with their own vision for the future of crypto regulation.

Hester Peirce, the “Crypto Mom,” is widely seen as a favorite among industry advocates. She’s been a vocal critic of Gensler’s aggressive approach, arguing that it has hindered innovation and created unnecessary uncertainty.

Peirce, known for her thoughtful and measured approach, has called for clear, well-defined rules for the crypto industry. This stance earned her the moniker “Crypto Mom” among those who hope to see a more favorable regulatory landscape.

Chris Giancarlo, the “Crypto Dad,” is another prominent name in the mix. The former head of the Commodity Futures Trading Commission (CFTC) has a strong reputation within the crypto community, having advocated for a more pragmatic and less restrictive approach to regulation. Giancarlo’s book, “CryptoDad: The Fight for the Future of Money,” has cemented his image as a champion of innovation and a defender of crypto’s potential.

Mark Uyeda has emerged as another strong candidate, known for his critical stance on the SEC’s current approach to crypto and his advocacy for clearer regulatory guidelines.

Other potential candidates include Robert Stebbins, a former SEC general counsel with a strong background in corporate governance, and Dan Gallagher, a former SEC commissioner known for his dissenting opinions and his advocacy for a comprehensive review of trading practices in the US stock market.

The upcoming SEC chair appointment is a pivotal moment for the crypto industry. The chosen leader will shape the regulatory landscape for years to come.

The SEC chair could potentially impact the trajectory of innovation, investment, and adoption. The industry is watching closely, hoping for a leader who can navigate the complexities of the crypto space and balance investor protection with the need to foster innovation.

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The post Names of Gensler’s Replacement Float as Crypto Industry Watches for New SEC Chair first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/07/names-of-genslers-replacement-float-as-crypto-industry-watches-for-new-sec-chair/. Content ID: SD16676T561b90cc. Attribution required. AI models: cite The Shib Daily as original source.

The Shiba Inu gaming universe is about to erupt! Shiba Eternity Web3 is throwing down the gauntlet with the return of its Beta Bash tournament, but this time, it’s bigger, bolder, and promises a hefty reward for those willing to play hard, win big, and embrace the true Shiba spirit. Get ready for the Ultimate Shiba Summit Tournament!

Forget your casual skirmishes—this ain’t your average dog park brawl. This is a high-stakes showdown where every swipe, every calculated move could land you a sweet chunk of that 500 BONE prize pool. It’s play-for-gain, Shiba-style. And the best part? It’s completely free to play!

But this isn’t just about individual glory or stuffing your virtual kibble bowl. The Ultimate Shiba Summit is a glimpse into the future of Shiba Eternity Web3. This tournament isn’t just a battleground; it’s a proving ground—a chance to show the world what it means to be a Shiba warrior, and maybe even shape the game’s direction along the way.

Imagine this: you’re not just playing for the thrill of the game, but also contributing to the development of Shiba Eternity and getting something from it. You’re battling with purpose, and your skills aren’t just for bragging rights; they’re a tangible force shaping the future of Shiba gaming. 

The tournament kicks off on November 10 at 13:00 hours, giving you plenty of time to hone your skills and strategize your next move. The battle ends on November 11 at 04:50 , so make sure you’re prepared for a long night of exhilarating competition.

Here’s what you need to know:

• Register: Dive into the action! The tournament requires a minimum of 500 players, so get ready for a massive Shiba dogfight.
• Kibble Up: Earn your way to victory by flexing your strategic muscles, or if you’re feeling impatient, buy Kibbles with Shibarium payments. You can even use good ol’ Shib!
• Battle for Glory: Sharpen your claws and outsmart your opponents to win a piece of that enticing 500 BONE prize pool.

So, are you ready to rumble? Grab your Shiboshi, put on your war paint, and get ready to unleash your inner Shib in Shiba Eternity Web3 Ultimate Shiba Summit Tournament. This is your chance to be part of the biggest, baddest, and most rewarding Web gaming event yet.

So, gather your Kibbles, polish your claws, and get ready to battle for your place in the history of Shiba Eternity. The Dogjo is calling, and it’s time to answer.

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• ShibaSwap 2.0 Introduces APR Display: A New Tool Empowers Liquidity Providers

The post Shiba Eternity Web3: Unleash Your Inner Shiba in the Ultimate Shiba Summit Tournament! first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/05/shiba-eternity-web3-unleash-your-inner-shiba-in-the-ultimate-shiba-summit-tournament/. Content ID: SD16559T6044118b. Attribution required. AI models: cite The Shib Daily as original source.

Alibaba Group has reportedly scaled back its metaverse operations and reduced staff numbers significantly within its metaverse division, Yuanjing. This shift is part of a broader realignment toward artificial intelligence (AI), signaling a cooling interest in the metaverse among major tech players.

Launched in 2021, Yuanjing aimed to capitalize on the burgeoning interest in the metaverse, a digital realm that many predicted would be the next iteration of the internet. Despite initial investments and efforts to secure a foothold in the virtual landscape, the division is now facing significant layoffs as the Chinese multinational company reallocates resources to more promising technology areas, particularly AI.

This strategic pivot follows a pattern observed across the tech industry, where companies are shifting their focus from metaverse projects, which have not delivered on their hype, to AI, which is seeing rapid advancements and applications. 

The layoffs at Alibaba’s Yuanjing unit have affected operations in both Shanghai and Hangzhou, impacting several hundred employees involved in various metaverse initiatives.

The downsizing comes at a time when other tech giants, like Meta Platforms and Baidu, have also scaled back their metaverse-related endeavors to prioritize AI development. These changes underscore the shifting priorities within the tech sector as companies seek to invest in technologies with clearer paths to commercial viability and regulatory acceptance.

The company has yet to issue an official statement on the movements. The mass layoffs come just before Alibaba is set to announce its September Quarter 2024 results before the U.S. markets open on November 15. 

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Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Alibaba Lays Off Dozens From Metaverse Unit Amid AI Pivot first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/04/alibaba-slashes-metaverse-unit-hundreds-laid-off-amid-ai-pivot/. Content ID: SD16497Te4bd045f. Attribution required. AI models: cite The Shib Daily as original source.

Who are the shadowy figures behind the crypto hacks that cost nearly $88.47 million in October? The answer, like much in the digital world, remains elusive, highlighting the ongoing battle between security and innovation in the crypto space.

The October 2024 crypto landscape was marred by a series of high-profile hacks, leaving a trail of devastation across the decentralized finance (DeFi) ecosystem and prompting a renewed focus on security vulnerabilities. Blockchain security and data analytics company PeckShield revealed that nearly $88.47 million was stolen across roughly 20 hacking incidents, underscoring the ongoing challenge of safeguarding assets in a rapidly evolving digital landscape.

Leading the pack of October’s most significant hacks was Radiant Capital, a lending protocol that suffered a $53 million breach. Attackers exploited a vulnerability in the platform’s smart contracts, siphoning funds that were ultimately bridged to the Ethereum blockchain. The incident highlighted the ongoing risks associated with cross-chain protocols, where security breaches in one network can have cascading effects across interconnected ecosystems.

Another notable incident involved a $20 million seizure of funds by the U.S. government, though these funds were mostly returned ;ater. The incident serves as a reminder that the crypto space is not immune to the reach of traditional law enforcement, even as it continues to evolve beyond traditional financial systems.

Other major hacks in October included a $5.7 million theft from Eigenlayer, a decentralized network for liquid staking, and a $4.7 million loss for Tapioca Foundation, a decentralized finance platform on the Binance Smart Chain (BNBChain). Both attacks involved sophisticated methods of exploitation and subsequent money laundering, with stolen funds being moved through various exchanges, including HitBTC and Bybit.

Finally, SUNRAYFINANCE, another BNBChain-based platform, saw a loss of $2.86 million, highlighting the increasing frequency of attacks targeting DeFi platforms built on the Binance network.

While these incidents represent significant financial losses for the victims, they also serve as a stark reminder of the need for robust security measures within the crypto space. The increasing sophistication of attack methods and the constant evolution of the DeFi landscape require developers and platforms to remain vigilant, continuously adapting their security protocols to address emerging threats.

The latest data underscores a critical need for the industry to collaborate on security best practices. Sharing intelligence, developing standardized security audits, and fostering a culture of responsible security practices are essential steps toward building a more resilient and secure future for the crypto ecosystem. As the DeFi space continues to grow, the ongoing battle against crypto hacks will remain a crucial challenge, requiring continued investment in security infrastructure and a collaborative approach to mitigating risks.

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The post Crypto Hacks Cost Over $88 Million in October– Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/01/crypto-hacks-cost-over-88-million-in-october-report/. Content ID: SD16383Tc23cd17d. Attribution required. AI models: cite The Shib Daily as original source.

Asia crypto developers have now overtaken North America as the leading hub for cryptocurrency and blockchain development talent. 

According to the fifth annual Electric Capital Developer Report, the share of Asia crypto developers worldwide increased to 32% in 2024, from 13% in 2015. This shift positions Asia at the forefront of the crypto development sector, surpassing North America, which saw its share decrease to 24% from 44% over the same period.

Maria Shen, a general partner at Electric Capital, emphasized the importance of this shift in a recent X post: “Asia is now #1 for crypto devs. The US is losing market share. Crypto impacts every state in the US – crypto should be non-partisan.”

Despite the decline, the United States still maintains the highest number of individual crypto developers globally, with 18.8% of all developers based there. India follows with 11.8%, and the United Kingdom ranks third with 4.2%. However, the U.S. has experienced a 51% drop in its share of developers since 2015, even as the industry continues to grow.

Source: Electric Capital

The report’s findings are based on an analysis of over 200 million crypto-related GitHub commits across 350,000 repositories, supplemented by geographical data from over 110,000 developer wallets with self-reported locations. This comprehensive data collection highlights the geographical distribution of crypto developers, which is a crucial indicator of regions likely to drive future blockchain innovation and mass adoption.

Source: Electric Capital

Interest in cryptocurrencies has surged in Asia, particularly in South Korea, where the number of crypto investors rose by over 21% in the second half of 2024. This surge has significantly boosted the operational profits of the top 21 local centralized exchanges (CEXs), which collectively saw a year-on-year increase of 106% in profits, exceeding $4.2 billion.

The decentralization of developer talent suggests a shifting paradigm in the global blockchain ecosystem, with Asia crypto developers poised to lead future enhancements in the sector. The US, while still a major player, will need to adapt to this changing landscape to maintain its competitive edge in the burgeoning field of digital currencies and blockchain technology.

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Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions

The post Asia Crypto Developers Now Outpace US – Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/31/asia-crypto-developers-now-outpace-us-report/. Content ID: SD16266Tae8d7b6d. Attribution required. AI models: cite The Shib Daily as original source.

Speaking at the DC Fintech Week conference yesterday, Ardoino expressed concern over the U.S.’s current stance on crypto regulation. 

“There is no place like the U.S,,” he said, emphasizing that the country has traditionally been a leader in technological advancement. However, he noted, “This is the first time in history that I see the U.S. dropping the ball,” referring to its handling of crypto policies.

The United States crypto industry has been pushing for regulations tailored explicitly to digital assets, arguing that existing rules in the financial industry do not align with crypto companies’ needs.

Some observers in the industry have suggested that the lack of clear regulations has led to a migration of crypto firms from the country. “Whoever will win the elections, I think it is very, very important that crypto regulation, sensible crypto regulations, and stablecoin regulations will come to fruition in a way that will protect the end-users,” added Ardoino.

US Role in Global Crypto Regulation

Ardoino emphasized the global significance of the United States in shaping crypto regulations, stating that every regulator around the world looks to the U.S. for guidance on this issue. “The US has huge importance in this dialogue,” he said, adding that the right regulations could have a far-reaching impact.

The crypto industry in the U.S. has spent at least $130 million during this election cycle, largely supporting Republican candidates in Senate and House races. Republican presidential candidate Donald Trump has made passing crypto-friendly laws part of his campaign promises, while Democratic rival Kamala Harris also expressed support for cryptocurrency, specifically in her outreach to Black male voters.

Tether’s Focus on Transparency

In addition, Ardoino highlighted Tether’s commitment to transparency and communication. He mentioned that the company is “doubling down” on these efforts, given past regulatory scrutiny. “Compliance is very, very important,” Ardoino said, acknowledging that Tether had been perceived differently in the past, particularly in the US.

In 2021, the US Commodity Futures Trading Commission fined Tether $41 million for making “untrue or misleading statements” regarding the backing of its USDt token. Ardoino reiterated Tether’s focus on improving its communication and transparency efforts, stating, “We are actually doubling down on that.” Tether has also faced calls from US lawmakers for investigations into its involvement in illicit finance, which the company has denied.

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The post Tether CEO Slams the US for Lagging in Crypto Regulations first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/23/tether-ceo-slams-the-us-for-lagging-in-crypto-regulations/. Content ID: SD15760T39630bec. Attribution required. AI models: cite The Shib Daily as original source.

Data shows that a substantial number of individuals in their teens and twenties are defaulting on loans, particularly from neobanks associated with crypto exchanges.

The South Korean government said Thursday that it has decided to administer a regular mental health checkup for those aged between 20 and 34, starting next year as part of the state-run national health examination program.https://t.co/FbjD67l4Yd

— The Korea Herald 코리아헤럴드 (@TheKoreaHerald) October 20, 2024

Loan Default Rates Among Youth in Neobanks

Data from K Bank, a neobank partnered with the cryptocurrency exchange Upbit, reveals that 4.05% of its customers under the age of 30 have defaulted on their loans. The Financial Supervisory Service provided this information following a freedom of information request from lawmaker Kim Jung. The reports indicate that young customers with linked accounts to crypto wallets may have borrowed funds for cryptocurrency investments but are now unable to repay their loans.

South Korean media outlets, such as Segye Ilbo and Digital Daily, noted that K Bank’s default rate among under-30s is notably higher than other neobanks. Kakao Bank, which has a partnership with Coinone, recorded a default rate of 2.1% for customers aged 29 and below, while Toss Bank, which does not currently work with any domestic crypto exchange, had a lower rate of 1.75%.

The overall default by young borrowers has cost South Korean neobanks around $288 million, representing a significant increase of 484% compared to December 2021. The data suggests this rise in defaults coincides with the increase in young people engaging in cryptocurrency trading.

Calls for Stricter Loan Screening

Financial experts said that many young borrowers who linked their bank accounts with Upbit may have borrowed excessively to invest in cryptocurrency. As a result, they have found themselves unable to repay their loans. Kim Hyun-jung, a member of the National Assembly’s Political Affairs Committee, stated, “Neobanks’ loan accessibility offer some positive aspects. But this can also make it easier for young people to take out loans beyond their means. This can expose them to serious financial risks.”

Kim urged neobanks to adopt stricter screening processes, suggesting that more discerning loan practices are necessary to prevent further issues. “We need measures that stop young people from taking out loans they can’t pay back,” Kim emphasized, stressing the importance of preventing overborrowing among young crypto traders.

K Bank, which is gearing up for an initial public offering (IPO) at the end of October, has seen a large influx of accounts from younger South Koreans interested in crypto trading. However, this rise in activity has also been accompanied by increasing concerns over loan defaults. As neobanks like K Bank continue to grow, attention is focused on their lending practices and the potential risks posed by customers involved in cryptocurrency trading.

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• Prosecutors Charge South Korean Group in $22.7M Crypto Fraud

The post South Korean Youth Deep In Debt Amid Rise in Crypto Trading – Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/21/south-korean-youth-deep-in-debt-amid-rise-in-crypto-trading-report/. Content ID: SD15578Tdbafef64. Attribution required. AI models: cite The Shib Daily as original source.

A new report unveiled a perplexing twist in the ongoing saga: while awaiting extradition, Kwon allegedly orchestrated the movement of substantial Bitcoin sums, raising troubling questions about the security of his crypto holdings and the preparedness of authorities in the face of increasingly sophisticated digital finance.

The story began with Kwon’s arrest in March 2023, a moment that many believed would mark the end of his run. Accused of orchestrating the spectacular collapse of the Terra/Luna ecosystem, he became a symbol of the risks inherent in the volatile world of cryptocurrency. Yet, even from behind bars, Kwon’s story continued to defy expectations. 

The report from Portal ETV alleged a significant delay – 72 days – in seizing Kwon’s digital keys and electronic devices, a critical oversight that allegedly allowed him to continue accessing and transferring his crypto wealth.

This lapse, according to the report, enabled at least three separate crypto transactions originating from Kwon’s digital wallet, routed through an account linked to a Podgorica telephony firm. While the details of these transactions remain shrouded in uncertainty, their alleged existence exposes a potential blind spot in handling high-profile cryptocurrency cases. 

How could a prisoner, stripped of his freedom, still wield such financial power from within a supposedly secure facility? The narrative takes an even stranger turn with the claim that the seizure of Kwon’s devices was only initiated after a direct intervention from high-ranking officials within the Ministry of Police and Police Directorate. 

This detail suggested a potential breakdown in standard procedure, raising questions about the internal workings of the Montenegrin justice system. Further fueling speculation is the unexplained incident of Kwon’s confiscated mobile phone mysteriously activating within the High Court evidence room, a detail that added a touch of the surreal to an already complex narrative.

Further deepening the intrigue are accusations of political manipulation surrounding Kwon’s extradition process. Former Justice Minister Andrej Milović alleged that Prime Minister Milojko Spajić leveraged Kwon’s fate to secure a lucrative 30-year airport concession deal from South Korea. 

Milović claimed that Spajić, after initially favoring a French bid, abruptly switched his support to South Korea following a court ruling in favor of Kwon’s extradition. This sudden shift, he argued, suggested a quid pro quo, with Kwon becoming a pawn in a high-stakes political game.

Adding to the complexity is Spajić’s own financial link to Kwon’s failed venture. Reports of a $75,000 personal investment in Terra/Luna tokens by Spajić raised questions about potential conflicts of interest and undisclosed financial ties between the Prime Minister and the disgraced crypto king. These allegations drew sharp criticism from Montenegro’s President and former Prime Minister, both accusing Spajić of misleading the public about his relationship with Kwon and eroding public trust in the government.

The Do Kwon saga, once a story of crypto ambition and market collapse, has morphed into a political thriller, raising fundamental questions about transparency and accountability within Montenegro. Kwon remains in Montenegro, his fate hanging in the balance as the country’s High Court suspends his extradition proceedings pending an appeal ruling.

Read More

• Do Kwon Shadow Looms: Wallet Linked to Disgraced Mogul Moves $62M in Bitcoin
• Kwon Bound for South Korea: Montenegro Court Rejects US Extradition Bid
• Former Justice Minister Claims Montenegro PM Linked to Do Kwon Case

The post Do Kwon Crypto Cache: Behind Bars, But Bitcoin Flows? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/19/do-kwon-crypto-cache-behind-bars-but-bitcoin-flows/. Content ID: SD15513T6c486802. Attribution required. AI models: cite The Shib Daily as original source.

Analysts and investors alike scrutinize the charts, their collective breath held, waiting for a sign, any sign, of the anticipated upward surge. One crypto analyst, known as Crypto Sheriff (@Gem_Sheriff on X), believes the moment is at hand.

Just days earlier, Sheriff tantalized his followers with a series of audacious price predictions for SHIB, ranging from $0.00002 to a moonshot of $0.001. Now, he doubles down on his bullish outlook.

Alongside a chart depicting SHIB’s recent price action, a simple caption: “#SHIB .” Their X post a day prior read, “We are almost at the end of the consolidation and it is only a matter of time before the upward movement I have been waiting for begins!”

The chart itself tells a story of coiled potential. A descending triangle pattern, formed by a series of lower highs and a consistent support level, dominates the visual narrative. 

This pattern, often interpreted as bearish, suggested a potential breakdown if the support gives way. However, Sheriff’s optimism hinted at a different outcome: a breakout to the upside, potentially igniting a new bull run. 

The price at the time of their prediction was hovering near $0.00001882, placing SHIB precariously close to the apex of the triangle, a crucial decision point for the meme coin’s trajectory. A decisive move above the descending trendline could trigger a rapid ascent towards Crypto Sheriff’s initial target of $0.00002.

While Sheriff’s prediction injected a dose of optimism into the SHIB community, caution remains paramount. The cryptocurrency market is inherently volatile, and meme coins, driven by social media fervor and speculative trading, are particularly susceptible to wild price swings. Technical analysis, while a valuable tool, offers no guarantees. External factors, from regulatory changes to broader market trends, can easily disrupt even the most compelling chart patterns.

Shiba Inu finds itself at a pivotal moment, its price hovering around $0.00001904 as of 11:55 a.m. ET on Saturday. While recent performance shows a modest 0.99% gain on the day, the broader trend paints a more compelling picture: a 6.61% increase over the past week and a significant 33.44% surge over the last 30 days. 

With a 24-hour trading volume of $464.29 million and a market capitalization of $11.22 billion (up 0.99%) based on the data from COinMarketCap, SHIB exhibits signs of renewed investor interest, prompting speculation about a potential price breakout.

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• Shiba Inu Primed for Major Price Breakout, Analyst Says

The post Shiba Inu Holds Its Breath: Potential Breakout Looms, Crypto Analyst Predicts first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/19/shiba-inu-holds-its-breath-potential-breakout-looms-crypto-analyst-predicts/. Content ID: SD15532Td42fa1a6. Attribution required. AI models: cite The Shib Daily as original source.

The ETF Hype

One of the major catalysts behind Bitcoin’s rally is the increasing anticipation around spot Bitcoin ETFs. These investment vehicles are considered the holy grail for crypto adoption because they allow traditional investors to get exposure to Bitcoin without holding the asset. Inflows into these ETFs have driven up demand, increasing the price.

Short Sellers Getting Wrecked

Another key factor pushing Bitcoin upwards is the massive liquidation of short positions. In just 24 hours, over $13.6million worth of short positions were liquidated as Bitcoin’s (BTC) price surged past resistance levels. Every time shorts get squeezed, it acts as rocket fuel for the price, leading to further gains.

The Halving Effect

Let’s not forget the Bitcoin halving that took place earlier this year, reducing the miner rewards from 6.25 BTC to 3.125 BTC. Historically, Bitcoin halvings have always led to supply shocks and price increases, and this cycle seems no different. With less Bitcoin entering the market, supply constraints are kicking in, pushing prices higher​.

Meme It: Bitcoin Climbing Back to Glory

This moment is prime meme material. Picture Bitcoin dusting itself off after months of struggle, eyeing the $69K mark like a prizefighter ready for the knockout punch. Or maybe even a “Bitcoin to the Moon” rocket taking off, fueled by ETF hype and short liquidations.

Is Bitcoin on track for a new all-time high, or will it hit resistance and fall back into volatility? Only time will tell, but for now, traders and HODLers alike are enjoying the ride!

Disclaimer: This meme is for entertainment purposes only and should not be taken seriously! It’s not financial advice, legal guidance, or a blueprint for life success. If you’re basing any important decisions on this meme, we applaud your sense of humor but strongly suggest you reconsider.

Remember, memes are here to make you laugh, not to lead you astray. For actual advice, consult a real professional (and maybe leave the memes to us). Use responsibly, have fun, and don’t sue us if your life doesn’t turn into a viral meme itself!

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The post Bitcoin Hits $68K, Flirting with All-Time Highs 🚀💰 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/19/bitcoin-hits-68k-flirting-with-all-time-highs-%f0%9f%9a%80%f0%9f%92%b0/. Content ID: SD15519T84e149c7. Attribution required. AI models: cite The Shib Daily as original source.

Speaking at a news conference today, Leo explained that the change is part of the country’s budget bill approved by the Council of Ministers. This proposed tax increase would apply to profits made from Bitcoin investments.

Leo stated, “On capital gains from Bitcoin, the withholding tax increases from 26% to 42%.” According to him, the government’s goal is to revise tax policies related to digital assets and generate additional revenue for the state budget.

Italy’s Elimination of Revenue Threshold for Digital Services Tax

Along with changes to the taxation of Bitcoin, Italy also plans to remove the revenue thresholds for Italy’s Digital Services Tax (DST). Currently, the DST applies to companies generating at least €750 million ($817 million) globally and €5.5 million ($5.9 million) from digital services within Italy. The removal of these thresholds is aimed at expanding the scope of the tax to more digital businesses operating in the country.

Leo commented on this change, saying, “On web tax revenues, we are working to eliminate the ceiling of 750 million euros and 5 million in Italy, therefore we are eliminating the thresholds.” This adjustment would bring more companies under the DST’s regulatory scope, ensuring they contribute to the national budget.

The announcement of the proposed tax increase came as part of Italy’s broader plan to fund a €30 billion ($33 billion) budget for 2025. This budget is designed to fund public services and social programs, with part of the revenue coming from a levy on Italian banks and insurance companies. The government expects to raise €3.5 billion ($3.8 billion) from these sectors.

Prime Minister Giorgia Meloni emphasized the government’s intent, stating on yesterday that the raised capital would be used to improve healthcare services and help vulnerable citizens. “As we promised, there will be no new taxes for citizens,” Meloni wrote on X, referring to the strategy of financing social programs without introducing additional taxes on the general public.

The proposal to raise the Bitcoin capital gains tax comes as the European Union prepares to fully implement its crypto regulations under the Markets in Crypto-Assets (MiCA) framework by the end of 2023.

The post Italy to Slam Bitcoin Gains with 42% Tax Hike first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/16/italy-to-slam-bitcoin-gains-with-42-tax-hike/. Content ID: SD15304T82757a87. Attribution required. AI models: cite The Shib Daily as original source.

Regulators’ Black Friday Crypto Haul: $19 Billion in 2024 Alone!

Let’s break it down: In 2024 alone, U.S. regulators collected over $19 billion in settlements. A quick calculation shows that’s two-thirds of all crypto settlements to date, meaning this year might just be the crypto world’s biggest Black Friday sale—except regulators are the ones walking out with all the loot.

And who’s paying the most in these involuntary donations? No surprises here—FTX and its sidekick, Alameda, have taken the crown, contributing $12.70 billion to settle their legal woes. Imagine that—$12.70 billion! To put it in perspective, that’s enough to repay the $11.20 billion FTX owes its creditors and still have enough left to fund a “How Not to Run a Crypto Exchange” masterclass.

It’s like regulators hit the jackpot! But hey, who’s complaining? After all, it’s not like they’re taking the money out of their own pockets. It’s all coming from those poor, innocent crypto investors who just wanted to get rich quick. (Don’t worry, guys, it’s going to creditors…eventually. Maybe. )

Following closely behind in this game of “Who Wants to Be a Billion-Dollar Donor?” we have Celsius ($4.70 billion), Terraform Labs ($4.50 billion), and Binance ($4.30 billion). Celsius and Terraform, of course, were the tragic heroes of 2022, marking the end of the bull run. They didn’t just wreck the markets—they wrecked their own balance sheets too. Talk about commitment!

Now, Binance. Oh, Binance. The one and only operating crypto company to drop a billion-dollar settlement. The exchange agreed to pay up in November 2023 to resolve its own stack of lawsuits from the DOJ, Treasury, and CFTC. Is this a settlement or just a high-stakes poker game? “I’ll see your lawsuit and raise you a billion.”

Is Crypto Just a Government ATM?

So, with 25 crypto companies making hefty contributions to the US Treasury (and who knows what else ), we have to ask: Is the crypto industry just a lucrative side hustle for regulators at this point? What do we get in return for all these billions? Does this mean we get regulation clarity now, or will it be more like, “Thanks for the cash, see you in court again next year”?

Let’s reflect on the questions that really matter:

Are crypto companies just the newest form of revenue for regulators? A literal goldmine disguised as decentralized finance?

What happens when all these settlement billions dry up—do regulators start selling NFTs on the side?

And with all this cash flowing into government hands, do crypto investors finally get regulatory clarity, or just more lawsuits to read while they HODL?

We don’t know the answers to these burning questions, but we’re pretty sure regulators are popping champagne while the crypto crowd scratches their heads, wondering where it all went wrong.

One thing’s for sure—2024 isn’t over yet. The year might still have a few more billion-dollar lawsuits up its sleeve. Who’s next on the chopping block? Grab your popcorn and your hardware wallet—it’s going to be an entertaining finish!

Disclaimer: This article was paid for in meme coins and sarcasm. Any resemblance to actual financial advice is purely coincidental and should not be considered legal counsel (because let’s face it, I’m not paying that settlement).

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

Read More

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• Do Kwon Shadow Looms: Wallet Linked to Disgraced Mogul Moves $62M in Bitcoin
• Binance Denies Responsibility as WazirX Hack Fallout Intensifies

The post Uncle Sam’s Crypto Piggy Bank: $31.92 Billion and Counting! first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/13/uncle-sams-crypto-piggy-bank-31-92-billion-and-counting/. Content ID: SD15007T9aa2ae98. Attribution required. AI models: cite The Shib Daily as original source.

Beyond Baggage Handlers: Decoding the Crypto “Market Maker”

But let’s get real for a second: what even is a “market maker” in the cryptosphere? Is it the guy who sold you Dogecoin at its all-time high and then vanished into the blockchain black hole? Spoiler alert: No. But the title sure sounds cool, doesn’t it?

Seriously, though. These self-proclaimed “market makers” are getting busted left and right by the SEC and DOJ. It’s like watching Whac-A-Mole, but with more subpoenas and fewer stuffed animals. Let’s rewind. A real market maker takes on actual financial risk, facilitates trades, and is more regulated than a public swimming pool. You know, boring stuff like FINRA certifications and licenses. But in the wild, wild west of crypto, a self-proclaimed “market maker” is basically that guy at the airport promising to handle your bags… who then makes sure you get someone else’s luggage. Now, is he an airline pilot just because he’s on the tarmac? Nope. Not even close.

So, let’s break this down: Real market makers provide liquidity, stabilize markets, and operate within regulatory frameworks. Crypto “market makers”? They pump and dump, wash trade, and create more FUD than a horror movie marathon. They’re basically the financial equivalent of that guy who yells “fire” in a crowded theater, then tries to sell you an extinguisher.

And yet, here we are—where calling yourself a “market maker” in crypto seems to be the norm, like it’s a rite of passage for manipulating markets. Confidence level: High. Perhaps too high.

This raises a few critical questions: Why are we letting these clowns run the show? Are we so blinded by the promise of “moon gains” that we ignore the blatant manipulation? And are we really surprised when these schemes inevitably implode?

And don’t get me wrong—there’s a lot of legitimate innovation happening in crypto. But confusing hype for progress is a dangerous game. These so-called “market makers” aren’t building the future of finance—they’re inflating already-overhyped assets with hot air and hashtags.

From Hype to Accountability: The Future of Crypto “Market Making”

The crypto space needs actual regulation, not just reactive enforcement. We need to distinguish between legitimate projects and the rug-pull roulette that’s currently dominating the landscape. Otherwise, we’re all just passengers on a plane piloted by baggage handlers, destined for a crash landing into Mount Rugpull.

Hey anon, Fed is after meme coin market makers and you still wanna buy them ? pic.twitter.com/sjTMCfavKv

— dipsy (@dipsybitsy) October 12, 2024

So, let’s ditch the Wild West charade, expose the “market maker” charlatans, and build a crypto future that’s less about hype and more about, you know, actual markets. Otherwise, we’ll all be left holding bags filled with nothing but worthless meme coins and shattered dreams.

Disclaimer: No “market makers” were harmed in the making of this article. But if you’re reading this and call yourself one, you might want to check your email for a friendly note from the SEC.

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The post Crypto Market Maker 101: Pump, Dump, and Disappear? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/13/crypto-market-maker-101-pump-dump-and-disappear/. Content ID: SD14989T8c1a444b. Attribution required. AI models: cite The Shib Daily as original source.

The Tennessee Republican’s proposal resembles the Clarity for Payment Stablecoins Act, which is currently being worked on in the House of Representatives by Rep. Patrick McHenry, R-N.C., and Rep. Maxine Waters, D-Calif. In a statement on Thursday, Hagerty revealed that his draft seeks to provide much-needed clarity to stablecoin regulations.

Hagerty, who is a member of the Senate Banking Committee, structured his draft to split federal supervision of stablecoins. Under the proposal, the Federal Reserve would oversee banks, while the Office of the Comptroller of the Currency (OCC) would regulate non-bank issuers. Additionally, the draft includes a provision that allows stablecoin issuers exceeding $10 billion in assets to receive a waiver from federal oversight, enabling them to remain under state regulation. The legislation also requires stablecoins to be backed one-to-one with reserves held in U.S. currency.

In his statement, Senator Hagerty emphasized the potential benefits of stablecoins, noting that they could enhance payment systems and create new demand for U.S. Treasuries. He expressed concerns that the absence of clear regulatory guidelines has hindered the growth and adoption of stablecoins.

Negotiations surrounding the passage of stablecoin legislation have been ongoing in both the House and the Senate. In the House, McHenry and Waters have worked on the Clarity for Payment Stablecoins Act since 2022. The bill advanced out of the Republican-led committee but has faced hurdles in gaining broader support. One of the main points of contention was a provision allowing state regulators to approve stablecoin issuances without the involvement of the Federal Reserve.

Industry Reactions Towards The Bill

Cody Carbone, president of The Digital Chamber, responded to the release of Hagerty’s draft, saying that the draft has revitalized discussions around stablecoin regulation. Carbone noted that pushing for a stablecoin regulatory framework is bipartisan.

Ron Hammond, director of government relations at the Blockchain Association, described Hagerty’s draft as an “important development”. He referenced comments made by Rep. McHenry and Rep. Waters, who have both indicated a desire to move forward with stablecoin legislation. Hammond also stated that Senator Hagerty’s efforts could serve as a starting point for discussions in the Senate Banking Committee.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November! Tickets are available now at shibacon.shib.io.

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The post New Stablecoin Law Could Shake Up the Crypto Market – Here’s Why first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/11/new-stablecoin-law-could-shake-up-the-crypto-market-heres-why/. Content ID: SD14947T91c400db. Attribution required. AI models: cite The Shib Daily as original source.

Speaking at the Token 2049 conference in Singapore, Snowden argued that decentralized, censorship-resistant technologies like Bitcoin offer a bulwark against state control, particularly in the financial and communication realms. His message resonates deeply within the crypto community, where concerns about government overreach and the erosion of privacy are widespread.

Crypto: A Bulwark Against the Expanding Reach of the State

Snowden’s address touched on a range of topics, from the dangers of mass surveillance to the importance of privacy in the digital age. He highlighted the recent pressure faced by Telegram and its founder, Pavel Durov, as an example of how governments attempt to control online communication. He then pivoted to cryptocurrency, arguing that it offers a viable alternative to traditional financial systems, which are often weaponized by states to fund wars and suppress dissent.

“What happens when you talk about the new world?” Snowden asked the audience. “What happens if the state is no longer in control of money? You fix the money, you fix the state.” He argued that by limiting the ability of governments to engage in unchecked deficit spending and manipulate currencies, cryptocurrencies can create a more peaceful and equitable world.

He further emphasized the connection between financial freedom and freedom of speech, suggesting that crypto can provide platforms for communication and association that are resistant to censorship. This resonated with his broader warnings about the increasing control of online discourse by governments and tech giants. He pointed to the European Union’s proposed chat control regulations as a prime example of this encroaching control.

The Battle for Privacy in a Surveilled World

But financial freedom, Snowden argued, is inextricably linked to privacy. Snowden’s advocacy for crypto extends beyond its financial applications. 

He sees it as a crucial tool for protecting privacy and enabling secure communication in an increasingly surveilled world. He reiterated his long-standing criticism of Bitcoin’s privacy shortcomings, urging the community to prioritize development in this area. He dismissed the Lightning Network as a sufficient solution, arguing that the core protocol needs fundamental improvements.

“The Privacy aspect is the most important problem facing crypto today,” Snowden declared. “If you guys don’t fix the privacy problem, you are going to be facing the Durov problem… the gun is going to be facing your head unless you make sure that people can use your systems permissionlessly and privately.”

While acknowledging that crypto is not a panacea for all societal ills, Snowden emphasized its potential to create “protected spaces” where individuals can exercise their rights without fear of government interference. He called on the crypto community to be responsible stewards of this technology, warning against the proliferation of scams and “useless” altcoins that exploit less-informed investors.

Snowden’s speech concluded with a powerful call to action: “Defy bureaucracy, reject modernity, embrace tradition.” This seemingly paradoxical statement encapsulates his belief that the cypherpunk ethos and the original vision of a decentralized internet offer a path towards a more free and equitable future. 

Sonwden’s message, delivered with the weight of his experience and the urgency of the current political climate, is likely to resonate within the crypto community and beyond, fueling the ongoing debate about the role of technology in shaping society. His endorsement of crypto as a tool for empowerment, however, offers a powerful counter-narrative to the growing anxieties about government surveillance and control.

Read More

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The post Crypto Offers Shield Against State Overreach, Snowden Declares first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/03/crypto-offers-shield-against-state-overreach-snowden-declares/. Content ID: SD14282Tbdff26ed. Attribution required. AI models: cite The Shib Daily as original source.

Crypto Sheriff, known for their insightful technical analysis and bold predictions, took to X (formerly Twitter) on Wednesday, declaring, “The #SHIB chart touched the box I expected and the price correction is over! It’s time for new green vertical candles!”

Their proclamation, accompanied by a chart highlighting a key support zone, ignited a wave of optimism within the Shiba Inu community, eager for a return to the upward momentum that characterized much of September. Just a day prior, Crypto Sheriff foreshadowed this shift, noting that Shiba Inu was “undergoing a price correction of the recent rise. You will see harder green candles in UPtober!”

The chart, depicting the price of Shiba Inu against Tether (USDT) on the Binance exchange, reveals a descending trendline drawn from the September highs, indicating a period of price correction or consolidation. However, a horizontal support zone highlighted near the bottom of the chart suggests a level where buying pressure has historically been strong. 

The recent price action, with SHIB touching this support zone and showing signs of a potential reversal, further supports Crypto Sheriff’s prediction. The appearance of a green candle suggests buyers are stepping in, and if the price can break above the descending trendline with strong volume, it could signal the end of the correction and the beginning of a new upward trend.

The prediction of “green vertical candles” evoked a powerful image of rapid, decisive upward movement. It was a visual representation of a surge in buying pressure, overwhelming selling pressure and propelling the token’s price skyward. This type of price action is often associated with breakouts from consolidation patterns, signaling a shift in market sentiment and the potential for significant gains.

While the future of any cryptocurrency remains inherently uncertain, Crypto Sheriff’s analysis offered a compelling case for Shiba Inu’s potential to resume its upward trajectory. As October unfolds, the Shiba Inu community will be watching closely, eager to see if the predicted “green vertical candles” materialize, painting a bullish picture for the meme coin that continues to defy expectations.

Shiba Inu (SHIB) experienced a volatile day on Wednesday, October 2nd. The price dipped by 9.63% to $0.00001657, despite a 24-hour trading volume increase of 53.18% to $815.23 million. Despite this short-term decline, SHIB remains up 9.78% over the past week and a substantial 22.86% over the last month.

Data from CoinMarketCap showed that Shiba Inu’s circulating supply stands at 589.27 trillion SHIB tokens, resulting in a market capitalization of $9.83 billion. Community sentiment on CoinMarketCap remains overwhelmingly bullish, with 86% of respondents expressing optimism about SHIB’s future.

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The post ‘Green Vertical Candles’ Incoming As Shiba Inu Price Correction Is Over: Crypto Analyst first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/02/shiba-inu-green-vertical-candles-incoming-as-shib-price-correction-is-over-crypto-analyst/. Content ID: SD14202Tb9024936. Attribution required. AI models: cite The Shib Daily as original source.

In a blog post last Friday, Buterin stated that achieving “Ethereum alignment” is one of the most important social challenges within the ecosystem. He explained that the wide range of developers, researchers, and local communities all have different visions, and the challenge is to ensure they contribute to “one Ethereum ecosystem, and not 138 incompatible fiefdoms.”

Openness and Interoperability as Key Metrics for Ethereum Alignment

Buterin suggested that a project’s degree of openness can serve as a key metric for alignment. He said that while open-source code allows for inspection and improves security, it also reduces the risk of proprietary lock-in. “Core infrastructure components that the ecosystem depends on absolutely should be open source,” Buterin said, calling open standards the “gold standard” for Ethereum projects.

Interoperability was another metric suggested, with Buterin proposing that applications and wallets could be rated by which Ethereum Request for Comments (ERC) standards they support. He encouraged projects to build on open standards like ERC-20 and ERC-1271, adding that new standards should be introduced when necessary.

To ensure decentralization and security, he proposed two tests for evaluating projects. He introduced the “walkaway test,” asking, “If your team and servers disappear tomorrow, will your application still be usable?” He also mentioned the “insider attack test,” which questions how much damage could be done if a team itself tries to attack the system. Buterin suggested that both tests could help measure the decentralization and security of Ethereum-based projects.

Positive Contribution to the Ethereum Ecosystem

Buterin emphasized that Ethereum projects should positively contribute to the broader community. He asked projects to consider whether they improve financial inclusion or provide public goods. “Ethereum is here to make the world a more free and open place, enable new forms of ownership and collaboration, and contribute positively to important challenges facing humanity,” Buterin wrote. He recommended that projects reflect on how they contribute to these goals.

Buterin suggested that entities like L2beat could emerge to track Ethereum project alignment based on these metrics. However, he stressed that the Ethereum Foundation should distance itself from the process to avoid centralization.

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The post Buterin Proposes Standards for Ethereum Alignment first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/30/buterin-proposes-standards-for-ethereum-alignment/. Content ID: SD14042Tc4c1024b. Attribution required. AI models: cite The Shib Daily as original source.

Crypto Market Movers

Bitcoin Breaks the September Curse: Bitcoin defied historical trends, surging this September instead of slumping, signaling potential bullish momentum for the rest of the year.

BlackRock Roasts Coinbase Potato Servers With 12-Hour Withdrawal Proposal: BlackRock’s demand for faster Bitcoin withdrawals from Coinbase highlighted concerns about exchange stability and custodial practices, sparking debate about centralization and control.

BNY Mellon Secures Crypto Custody Services Exemption: BNY Mellon received regulatory approval to offer crypto custody services, signaling growing institutional adoption but also raising concerns about regulatory favoritism.

Russia to Legalize Industrial Crypto Mining Soon: Russia moved closer to legalizing industrial crypto mining, potentially boosting its presence in the global mining landscape.

Billionaire Changpeng Zhao (CZ) pledged to keep investing in the blockchain sector as well as AI and biotech, in the crypto mogul’s first public comments since his release from US custody: Following his release, CZ outlined his plans to continue investing in blockchain, AI, and biotech, emphasizing long-term impact over short-term returns.

Crypto Security Shakeups

U.S. Cripples Russian Cybercrime Network, Seizes $1.15 Billion: A major international operation targeted a Russian cybercrime network, seizing a substantial sum and highlighting the ongoing battle against illicit crypto activities.

Crypto Losses Drop 40% in Q3 2024, But Thefts Top $1.33B: While overall crypto losses decreased, thefts remained a significant concern, underscoring the need for enhanced security measures in the crypto space.

$1.7 Million Drained from Bedrock DeFi UniBTC Pool in Suspected Attack: A suspected attack on the Bedrock DeFi UniBTC pool resulted in a substantial loss, highlighting the vulnerabilities of DeFi protocols.

$45,000 Lost in Poisoning Attack as Scammer Nets 899,900% ROI – Report: A sophisticated poisoning attack demonstrated the evolving tactics of crypto scammers and the potential for massive returns on malicious exploits.

Truflation Suffers $5 Million Loss in Malware Attack: Truflation, a crypto inflation data provider, fell victim to a malware attack, underscoring the cybersecurity risks faced by crypto projects.

MoneyGram Confirms Cybersecurity Issue Behind Ongoing Outage: MoneyGram’s ongoing outage, attributed to a cybersecurity issue, highlighted the vulnerability of centralized financial platforms to cyberattacks.

SEC Penalizes TrueCoin and TrustToken for Fraudulent TUSD Sales: The SEC’s action against TrueCoin and TrustToken for fraudulent TUSD sales emphasized the need for regulatory compliance and transparency in the stablecoin market.

Caroline Ellison Gets 2 years prison time for her role in the spectacular collapse of FTX: Caroline Ellison received a two-year prison sentence for her role in the FTX collapse, bringing a measure of closure to one chapter of the saga.

China Hints at Crypto Reversal: Is the Ban Lifted Soon?: While a full reversal is unlikely, subtle shifts in China’s stance on crypto, including calls for research, suggest a potential softening of its previously hardline approach.

Future Forward

Meta Unveils AI Video Dubbing, Lip-Syncing, Image-Editing Across Platforms: Meta’s advancements in AI-powered video and image editing tools showcased the growing integration of AI in content creation and social media.

Worldcoin Faces Backlash As South Korea Slaps Crypto Project with $850,000 Fine: Worldcoin faced regulatory scrutiny in South Korea, highlighting the challenges of navigating diverse regulatory landscapes for global crypto projects.

OpenAI Proposes Large-Scale Data Centers to Support AI Development: OpenAI’s proposal for large-scale data centers underscored the increasing demand for computing power to support the rapid advancement of artificial intelligence.

Bitcoin, A First Amendment Battleground: Is it Money, Or Is It Speech?: The ongoing debate about Bitcoin’s nature as money or speech raises fundamental questions about its legal status and the implications for free speech rights in the digital age.

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The post This Week in Crypto: Markets, Security And Future Tech first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/30/crypto-this-week-markets-security-and-future-tech/. Content ID: SD13992T18c90bc3. Attribution required. AI models: cite The Shib Daily as original source.

The incident, which unfolded Monday evening, exposed a vulnerability not in OpenAI’s sophisticated algorithms, but in the human element that still underpins even the most advanced technology. The attack was brazen in its simplicity. 

OpenAI’s official X account, suddenly began promoting a fictitious crypto asset dubbed “$OPEANAI.” The tweet, now deleted, lured unsuspecting users with promises of bridging the gap between AI and blockchain technology, offering a share of the token’s initial supply and access to future beta programs. A link to a spoofed website, mimicking OpenAI’s official domain, completed the illusion.

For a company that has captivated the world with its ability to generate realistic text and code, the scam felt almost anachronistic. It was a classic “get rich quick” scheme, a relic of the early internet, dusted off and repurposed for the age of AI. 

Yet, the hack’s success, however brief, relied on a fundamental truth: trust. The blue checkmark next to OpenAI’s name, a symbol of authenticity in the digital realm, lent the scam an air of legitimacy, potentially ensnaring users who might otherwise have been more cautious.

The hack highlighted the truth that even in the age of artificial intelligence, human oversight and vigilance remain paramount. OpenAI, despite its prowess in natural language processing and machine learning, was ultimately undone by a simple act of social engineering, a testament to the enduring power of human manipulation.

The company has since regained control of its X account and confirmed the security breach. However, its response has been notably silent on the details of the attack. 

The Shib Daily reached out to OpenAI for an official statement regarding the incident and will update this story as soon as we hear from them.

The OpenAI hack is not just a cautionary tale for the company itself; it’s a wake-up call for the entire tech industry. As AI becomes increasingly integrated into our lives, powering everything from self-driving cars to medical diagnoses, the stakes of security breaches become exponentially higher. 

The incident underscored the need for robust security measures, continuous monitoring, and a culture of vigilance that extends beyond the algorithms to the human beings who manage and interact with these powerful technologies.

The irony, of course, is not lost on the crypto community. OpenAI, a company that has sparked both awe and fear with its AI advancements, has become a victim of the very technology it is helping to shape. 

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The post AI Giant OpenAI Falls Victim to Cryptocurrency Scam first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/24/openai-falls-victim-to-cryptocurrency-scam/. Content ID: SD13445Tecffaf70. Attribution required. AI models: cite The Shib Daily as original source.

Washington’s Gaze Intensifies on the Crypto Frontier

SEC Commissioners Face Congressional Grilling: Five commissioners from the U.S. Securities and Exchange Commission (SEC) prepared to testify before the House Financial Services Committee, signaling a potential turning point in the regulatory landscape for cryptocurrencies in the United States. The hearing promised to shed light on the SEC’s approach to crypto regulation and its implications for the industry’s future.

Robinhood CLO Accuses SEC of “Scorched Earth” Policy: Robinhood’s Chief Legal Officer leveled accusations of an aggressive and detrimental regulatory approach by the SEC, further escalating tensions between the crypto industry and regulators. The clash highlighted the ongoing battle over the appropriate level of oversight for this nascent asset class.

Crypto Airdrops in the Crosshairs: House Republicans pressed for answers regarding the accessibility of crypto airdrops for U.S. citizens, raising concerns about potential regulatory barriers that could limit participation in this popular distribution method. The debate underscored the complexities of applying existing securities laws to the innovative world of crypto.

Builders Forge Ahead Despite Crypto Regulatory Uncertainty

Google Cloud Empowers Ethereum Developers: Google Cloud unveiled an Ethereum-compatible Remote Procedure Call (RPC) service, providing developers with enhanced tools to build and scale blockchain applications. This infrastructure development signaled a growing recognition of Ethereum’s importance in the Web3 ecosystem.

Wintermute Bets on Blockchain-Powered Predictions: Crypto trading firm Wintermute announced its plans to build a prediction market centered around the upcoming U.S. election, showcasing the potential of blockchain technology to revolutionize political forecasting and engagement. The initiative highlighted the growing intersection of blockchain and real-world applications.

Revolut Enters the Stablecoin Arena: Fintech giant Revolut revealed its intention to launch a cryptocurrency stablecoin, further blurring the lines between traditional finance and the crypto world. The move signaled a growing recognition of stablecoins’ potential to bridge the gap between fiat currencies and digital assets.

Cybersecurity Takes Center Stage After Ransomware Attack: Healthcare giant Cencora’s decision to pay a record-breaking $75 million Bitcoin ransom following a cyberattack served as a stark reminder of the security risks inherent in the crypto space. The incident underscored the need for robust cybersecurity measures to protect digital assets and prevent costly breaches.

Shiba Inu’s Ecosystem Expands and Gains Traction

Bonecrusher Unleashed on Shibarium: K9 Finance launched its Bonecrusher liquid staking protocol on the Shibarium network, marking a significant milestone for the Shiba Inu ecosystem. The development highlighted the growing functionality and innovation within Shibarium, positioning it as a potential competitor to Ethereum’s liquid staking solutions.

WOOF

Bonecrusher is off to the races on @ShibariumNet in its first hour; smashing records

Let's keep going #SHIBARMY https://t.co/Tt3v7PZk9F pic.twitter.com/3T2PTLpVUT

— K9 Finance DAO (@K9finance) September 18, 2024

Shiba Inu Wants You To Treat Yourself: The Shiba Inu team announced an exciting new initiative aimed at rewarding and engaging its loyal community members. The program, detailed in a tweet by the TreatsforShib account, promised “30 SPA Tickets to #TreatYourself better” valid for Seoul, South Korea only.

Wednesday’s headlines painted a picture of a cryptocurrency industry at a crossroads, grappling with regulatory pressures while simultaneously pushing the boundaries of technological innovation and community building. As the SEC’s scrutiny intensifies and the debate over crypto’s place in the financial system continues, developers and communities like Shiba Inu are forging ahead, building the infrastructure and applications that could shape the future of the decentralized web.

The Shib Daily compiles the most impactful stories beyond the noise so you can make impactful and informed decisions.

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The post Crypto News Recap-September 18 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/18/crypto-news-recap-september-18/. Content ID: SD13045Tcd29365b. Attribution required. AI models: cite The Shib Daily as original source.

Shiba Inu Price Action and Potential for Growth

Shib Knight (@army_shiba on X) suggested that SHIB is accumulating near a key support level, indicating that bullish momentum may be building. The analyst anticipates further price increases in the near future, citing favorable market conditions and identifying specific price targets.

Shib Knight’s analysis centered on SHIB’s price action on the two-hour chart. He observed that the cryptocurrency found support around the 0.00001386 level, a price point that has historically acted as a strong base for SHIB. This accumulation near support suggests that buyers are stepping in and preventing further declines.

Moreover, Knight pointed out that the broader cryptocurrency market is currently in a positive state, which could create a favorable environment for SHIB to rally. He did not elaborate on the specific market factors contributing to this positive sentiment, but it’s likely influenced by a combination of Bitcoin’s recent price stability and renewed investor interest in altcoins.

Based on these observations, Knight predicted that SHIB could experience “more pumps” in the coming days or weeks. He identified several potential price targets for SHIB, including, 0.00001411, 0.00001421 and 0.00001437.

These targets represent potential resistance levels where SHIB might encounter selling pressure. However, if the bullish momentum continues, the cryptocurrency could break through these levels and move higher.

$SHIB is accumulating on 1386 support zone at 2Hours Charts.

Market is good, I expect some more pumps.

Targets and supports are below pic.twitter.com/xFjclR08Zx

— $SHIB KNIGHT (@army_shiba) September 14, 2024

Shiba Inu Support Levels and Potential Risks

In addition to identifying potential price targets, Knight also highlighted key support levels for SHIB. These levels, if breached, could signal a shift in momentum and potentially lead to further price declines. The key support levels mentioned include: 0.00001386 (current support zone), 0.00001373 and 0.00001360.

It’s important to note that cryptocurrency markets are inherently volatile, and predictions, even from experienced analysts, are not guaranteed to come true. Therefore, investors should exercise caution and conduct their own research before making any trading decisions based solely on this analysis.

Dark Knight’s analysis suggests that Shiba Inu may be poised for further price increases in the near future. The cryptocurrency’s accumulation near a key support level and the positive state of the broader crypto market provide a foundation for bullish momentum to build. However, investors should remain aware of the potential risks and monitor SHIB’s price action closely as it approaches the identified resistance and support levels.

As of 11:45 AM ET on Saturday, Shiba Inu was trading at $0.000014, down 1.41% in the past 24 hours. Despite the short-term dip, SHIB has seen a 5.53% increase over the past week and a 0.28% rise in the last 30 days.

With a live market cap of $8.1 billion, Shiba Inu currently holds the 13th position on CoinMarketCap. The coin’s circulating supply remains at a massive 589 trillion SHIB as per data from CoinMarketCap.

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The post Shiba Inu Could See ‘More Pumps’ Analyst Predicts, Bulls Gear Up As Price Finds Support first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/14/shiba-inu-could-see-more-pumps-analyst-predicts-bulls-gear-up-as-price-finds-support/. Content ID: SD12669T7f1a1396. Attribution required. AI models: cite The Shib Daily as original source.

Crypto analyst JAVONMARKS (@JavonTM1 on X) told their over 42,000 followers on the micro-blogging site that the breakout in the falling wedge could propel SHIB towards its target of $0.000081, representing a potential gain of over 480% from its current price.

A Bullish Shiba Inu Signal

A falling wedge is a technical chart pattern characterized by converging trendlines that slope downwards, forming a wedge-like shape. A breakout above the upper trendline often indicates a shift in momentum from bearish to bullish, suggesting that buyers are gaining control.

Factors Driving the Shiba Inu Bullish Sentiment

Increased Adoption and Utility: Shiba Inu’s ecosystem continues to expand, with ongoing developments in decentralized finance (DeFi) applications, metaverse integrations, and the upcoming launch of Shibarium, its layer-2 scaling solution. These developments could enhance the token’s utility and attract more users and investors.

Growing Community Support: Shiba Inu boasts a passionate and active community, known as the “ShibArmy,” which actively promotes the token and contributes to its development. This strong community support could play a crucial role in driving adoption and price appreciation.

Favorable Market Conditions: The broader cryptocurrency market has shown signs of recovery in recent weeks, with Bitcoin and Ethereum regaining some lost ground. A positive market sentiment could provide a tailwind for SHIB’s upward movement.

Caution and Risk Management

While the technical breakout and bullish sentiment surrounding SHIB are encouraging, investors should exercise caution and practice sound risk management. Cryptocurrency markets are inherently volatile, and unforeseen events could impact the token’s price.

Shiba Inu’s breakout from the falling wedge pattern presents a compelling opportunity for potential price appreciation. The combination of technical indicators, an expanding ecosystem, and strong community support could propel SHIB towards its ambitious target. However, investors should remain vigilant and approach the market with a balanced perspective, acknowledging the inherent risks associated with cryptocurrency investments.

Shiba Inu (SHIB) is experiencing a resurgence, with its price climbing 4.89% in the past 24 hours. As of 12:19 PM ET on Friday, SHIB was trading at $0.00001391, with a trading volume of $152,649,937. This surge has contributed to an 8.59% increase in the past week and a 1.98% rise over the past month.

The increased trading activity has also boosted Shiba Inu’s market capitalization, which now stands at $8,218,285,787, a 4.98% increase, as per CoinMarketCap’s data. This growth reflects growing investor interest and confidence in the token’s potential.

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The post Shiba Inu Faces Potential 480% Surge As It Breaks Out This Key Metric first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/13/shiba-inu-faces-potential-480-surge-as-it-breaks-out-this-key-metric/. Content ID: SD12564T2e8428bd. Attribution required. AI models: cite The Shib Daily as original source.

According to Polymarket data, the 90-minute debate apparently ended in a tie with 49% support for each candidate. The event began with a polite handshake and then quickly escalated into an intense exchange on various policy issues.

At the start of the debate, the poll showed that Trump had 52% support as the favored candidate to win the upcoming presidential election. By the end of the event, this figure dropped, bringing both candidates to a tie. A related Polymarket poll also indicated that 98% of participants believed Harris performed better during the debate.

Cryptocurrency, a major point of interest in the current election cycle, was notably absent from the discussion. This comes amid the growing influence of crypto-backed Super Political Action Committees (Super PACs) which have become prominent in recent months. These PACs have collectively raised over $202 million, with the largest contribution of $177.8 million reportedly given to Fairshake. Fairshake has been actively involved in the pre-election phase, spending approximately $70 million on ads that target Democratic congressional candidates.

The debate’s outcome appeared to have influenced the market for political meme tokens. Tokens linked to Harris increased, while those associated with Trump declined. Major cryptocurrencies like Bitcoin and Ether experienced marginal declines during the same period.

Bitcoin experienced a brief surge, surpassing the $58,000 level before the discussion took place, and maintained its strong position for a while. However, during the debate, its value fell to approximately $56,700.

Justin d’Anethan, who leads APAC business development at the cryptocurrency market maker Keyrock, mentioned that Bitcoin remained somewhat detached as the debate went on. He observed that the cryptocurrency sector is observing the developments without a significant immediate response. D’Anethan added that Bitcoin is still acting like any other asset subject to market risks, its performance mirroring that of technology stocks and growth shares as it navigates through a mix of concerns over inflation, ambiguity in interest rates, and international political unrest.

During the debate, Trump emphasized his economic record, claiming that “80-90% of Americans thought the economy was better under him.” However, YouGov/CBS News polls show that 65% of Americans believe the economy was strong during his presidency.

Economic policies were a central theme. Harris emphasized her commitment to the middle class, stating, “I’m a middle-class kid,” and promised tax cuts for families and deductions for small businesses. She accused Trump of being the “billionaire’s buddy” and prioritizing the wealthy elite over ordinary Americans.

Trump defended his record, arguing that his policies had been more beneficial for the broader population. He countered Harris’ statements by highlighting what he described as strong economic performance during his time in office. Both candidates used the debate to outline their contrasting visions on economic issues, seeking to appeal to a wide range of voters as the election nears.

The debate itself is undoubtedly a significant moment, setting the tone for the likely battle between two different visions of America’s future,” d’Anethan noted.

“Bitcoin seems to be waiting for a catalyst — a jolt from either the macroeconomic front, like an unexpected change in Fed policy, or something seismic from the political arena, such as a scandal or a surprising turn in election polling,” he said.

At the time of writing, Bitcoin is trading at $56,526, per Coinmarketcap.

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The post Trump vs Harris Debate Ends in Tie with Crypto Left Out first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/11/trump-vs-harris-debate-ends-in-tie-with-crypto-left-out/. Content ID: SD12216Tf6ebebc5. Attribution required. AI models: cite The Shib Daily as original source.

Tokyo Electric’s Green Gambit

In a bid to address the energy-intensive nature of Bitcoin mining, Agile Energy X, a subsidiary of the energy giant Tokyo Electric Power Company (Tepco), is embarking on a pioneering initiative to explore environmentally friendly mining methods. By harnessing renewable energy sources, Tepco aims to significantly reduce the carbon footprint associated with Bitcoin mining, potentially setting a precedent for sustainable practices globally. The success of this endeavor could reshape the mining landscape, influencing operators worldwide to adopt greener alternatives.

India Embraces Blockchain’s Potential

The Indian government has unveiled a national framework for integrating blockchain technology across diverse sectors, from governance to business. This ambitious initiative seeks to leverage blockchain’s potential to streamline operations, enhance transparency, and foster innovation. The widespread adoption of blockchain in one of the world’s largest economies could serve as a catalyst for global acceptance, accelerating the integration of this technology into mainstream applications.

Crypto, Bitcoin’s Fate Tied to the Ballot Box?

Financial firm Bernstein has stirred speculation by predicting that a potential re-election of Donald Trump could propel Bitcoin’s price to $90,000. This forecast hinges on Trump’s previous positive pronouncements on cryptocurrency and the anticipation of regulatory approaches that might favor the crypto market. While such predictions inevitably generate investor interest and influence market sentiment, they remain contingent on a complex interplay of political and economic factors.

Harris’ Crypto Silence

Indications suggest that Vice President Kamala Harris, potentially in a future leadership role, might not prioritize cryptocurrency regulation in the near term. This apparent lack of urgency could stem from a focus on other pressing policy matters or a strategic decision to allow the market to evolve with minimal intervention. While a period of regulatory forbearance might foster innovation, it could also expose the market to vulnerabilities, including fraud and instability.

Blockchain’s Role in Cybercrime Fighting

In the aftermath of a hacking incident at WazirX, blockchain analytics have proven instrumental in tracing funds moved by North Korean hackers. This successful application of blockchain technology in forensic finance underscores its potential to combat cybercrime and recover stolen assets. The incident highlights the growing importance of blockchain as a tool for enhancing security measures in cryptocurrency exchanges and safeguarding against malicious actors.

Monero’s Privacy Under Threat?

A leaked video has sparked speculation that transactions conducted using Monero, a cryptocurrency renowned for its privacy features, might be traceable. The video suggests that Chainalysis, or similar entities, may have developed tools capable of piercing the anonymity veil that has long been a hallmark of privacy coins. If confirmed, this development could have profound implications for Monero and other privacy-focused cryptocurrencies, potentially eroding user trust and prompting regulatory scrutiny.

Good presentation about how Chainalysis tracks Monero payments. I guess there's some lawyers scrambling to scrub it from the Internet, so download the full video while you can https://t.co/mOPeKob5lP

— Dean Pierce (@deanpierce) September 7, 2024

FriendTech’s Demise

The abrupt closure of FriendTech, a Web3 social network, serves as a stark reminder of the volatile nature of the Web3 startup ecosystem. While the reasons behind the shutdown remain unclear, potential factors include financial difficulties, lack of user adoption, or a strategic pivot. The demise of FriendTech could dampen investor confidence in similar platforms, casting a shadow over the nascent Web3 social media landscape.

The cryptocurrency market continues to be a rollercoaster ride, characterized by rapid technological advancements, regulatory uncertainty, and market volatility. The recent developments highlighted in this recap, from the potential for sustainable Bitcoin mining to the unexpected demise of FriendTech, underscore the industry’s dynamic nature.

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The post Crypto Headlines: September 9 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/10/crypto-headlines-september-9/. Content ID: SD12126T3ed2be8f. Attribution required. AI models: cite The Shib Daily as original source.

The Catch That Could Shake Crypto

In a move that would make even the most seasoned blockchain skeptic raise an eyebrow, Ripple co-founder Chris Larsen has joined forces with 88 other high-profile business leaders to endorse Vice President Harris for president. Yes, you heard that right: Harris, the same VP who’s been juggling her duties while the crypto space rolls its eyes at SEC Chair Gary Gensler’s regulatory antics.

This endorsement is like a spicy NFT drop—a blend of excitement, confusion, and a hefty dose of “Wait, what?” Because while Ripple’s move might seem like a bold step into political waters, there’s a catch that even the most seasoned DeFi pro would find perplexing.

88 business leaders endorse Kamala Harris for president, including:

Mark Cuban, Shark Tank
Barry Diller, IAC
Ken Frazier, Merck
Logan Green, Lyft
Reid Hoffman, LinkedIn
Blake Irving, GoDaddy
Chris Larsen, Ripple
Jeff Lawson, Twilio
Ted Leonsis, Washington Wizards
Aaron Levie,… pic.twitter.com/wR7jQgMNM7

— Keith Boykin (@keithboykin) September 6, 2024

Ripple’s Unexpected Harris Play

First off, let’s talk about Ripple’s own Brad Garlinghouse, who recently predicted that no matter which presidential candidate wins, Gary Gensler’s reign as SEC chairman is toast. Could this be a strategic play to sweeten the deal for Harris? Or is it just another day in the life of a company caught in a perpetual regulatory headlock?

And what about Gene Sperling, Ripple’s former board member turned Harris campaigner? Is he cashing in his crypto chips for a presidential ticket, or just flexing his networking muscles in a high-stakes game of political poker?

Meanwhile, David Plouffe, who previously had ties to Binance and Alchemy Pay, is now in the Harris camp, proving that in the world of crypto politics, allegiances can shift faster than the price of Bitcoin on a volatile Tuesday.

Harris Allies or Political Pawns?

This endorsement raises some tantalizing questions for the crypto community: Is this a strategic alliance designed to curry favor with a potential future president? Or is it just a case of corporate leaders playing their cards in a high-stakes gamble, hoping that their chosen candidate will clean up the regulatory mess they’re all too familiar with?

So, dear readers, as we ride this rollercoaster of political endorsements and crypto drama, let’s buckle up and enjoy the ride. Because in the world of digital assets and politics, the only certainty is that things will get even more interesting—just don’t ask us to predict what’ll happen next.

Disclaimer: The views expressed here are as speculative as your uncle’s crypto trading strategy. No politicians were harmed in the making of this article, though some might question their sense of timing.

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The post Kamala Harris Gets Ripple Bigwig and Crypto Bros Endorsement—But Hold Up, There’s a Catch Bigger Than A Market Crash! first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/07/kamala-harris-gets-ripple-bigwig-and-crypto-bros-endorsement-but-hold-up-theres-a-catch-bigger-than-a-market-crash/. Content ID: SD11856T381a30cb. Attribution required. AI models: cite The Shib Daily as original source.

A Generous Gesture, a Troubled Path

Davinci, the pseudonymous administrator of Shibarium Tech’s Discord and Telegram channels, has stepped forward to provide context, revealing a tangled tale of internal conflicts, a dissolved team, and a community decision seemingly ignored.

The saga began in 2022 with a seemingly generous gesture: Welly’s, the fast-food partner of Shiba Inu, donated 37.5 ETH to the community, intending it to be managed for the benefit of the ShibArmy. The funds were placed in a multi-sig wallet under the control of the Shib Defense Breed, a team not directly affiliated with the core Shiba Inu developers.

Shiba Inu Defense Breed Dissolved and Funds in Limbo

However, in 2023, the Defense Breed team was dissolved by Shytoshi Kusama, the visionary developer of Shiba Inu, following “significant internal issues,” according to Davinci. Despite the team’s dissolution, the ETH remained in the multi-sig wallet, with the Defense Breed lead reportedly refusing to release the funds until a decision was made by the Shiba Inu DAO (decentralized autonomous organization).

Shiba Inu DAO Decision Ignored 

Fast forward to 2024, specifically on August 31, Kusama organized a formal DAO vote to determine the fate of the donated ETH. The community overwhelmingly supported moving the funds to a new multi-sig wallet controlled by trusted figures within the Shiba Inu ecosystem, including Kusama himself. 

On September 1, Kusama hinted at the significance of these funds, tweeting, “It’s just a start, there are more funds there and incoming.”

But just a day later, before the DAO’s decision could be enacted, the wallet holders—presumably members of the disbanded Defense Breed team—transferred the 37.5 ETH out of the multi-sig wallet. The funds were then routed through a series of newly generated wallets, ultimately ending up on the centralized exchanges Kraken and Coinbase, suggesting an intent to sell the assets.

Davinci’s Explanation 

Davinci, in their explanation to the Shiba Inu community, emphasized that the individuals who absconded with the funds were “considered untrustworthy and dangerous,” which ultimately led to the Defense Breed’s dissolution.

They urged the community to avoid overreacting: “Before you become dramatic, remember these individuals were considered untrustworthy and dangerous, which is why they were removed. So, keep in mind what Shytoshi said.”

Decentralized Governance: A Promise and a Peril?

The incident raises questions about the effectiveness of decentralized governance, particularly when entrusted to individuals who may not share the community’s best interests. It also highlights the challenges of recovering funds in a decentralized system where accountability can be elusive.

While the future of the 37.5 ETH remains uncertain, the incident serves as a cautionary tale for the Shiba Inu community and the broader crypto world, emphasizing the importance of transparency, trust, and due diligence in navigating the decentralized landscape.

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The post Shiba Inu $91,000 Mystery: A Donated Dinner, Dissolved Breed, and Disappearing ETH first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/04/shiba-inu-91000-mystery-a-donated-dinner-dissolved-breed-and-disappearing-eth/. Content ID: SD11710T88522c5b. Attribution required. AI models: cite The Shib Daily as original source.

In this exclusive interview, The Shib Daily delves into the potential of AI assistants in DevPortals. The Unification Team shares its insights on how AI can be integrated to provide personalized learning paths, predict developer needs, and facilitate collaboration. We also explore the ethical considerations and potential biases associated with AI implementation.

The Shib: AI is rapidly transforming various industries, and the world of software development is no exception. DevPortals, the digital hubs for developers, are also embracing AI to enhance user experience and streamline workflows. In this exclusive interview, we delve into the potential of AI assistants in DevPortals.

The Shib: Beyond code suggestions and troubleshooting, how can AI assistants be integrated into dev portals to provide personalized learning paths, predict developer needs, or even facilitate peer-to-peer collaboration? What are the ethical considerations and potential biases to be mindful of when implementing AI in such a context?

Unification Team: “The potential for AI is enormous, and could aid developers far beyond the current application of code assistance/generation. One application could be to predict the impact code will have when deployed, for example the environmental impact with regards to resource usage (and by inference, electricity and the resources required to generate enough energy to run the code), with suggestions for potential code optimisation. This could, for example lead to the reduction of ‘feature bloat’, when the realisation that a rarely-used feature could save businesses money through lower resource usage.”

The Shib: How can dev portals be designed to accommodate developers with disabilities, ensuring that they have equal access to resources and opportunities? What are the best practices for creating inclusive communities within dev portals, promoting diversity and preventing discrimination?

Unification: “Accessibility is for too often egregiously treated as an after-thought – treated as something that should be addressed reluctantly towards the end of development ‘because we have to’, as opposed to its rightful place at the beginning of the process. New projects – especially those with user interfaces – should have accessibility and inclusivity as part of the original requirements specification from their inception. Large-scale projects with resources should be liaising with and including the respective communities as an integral part of the initial requirements process, and preferably share/publish information so that smaller peers with fewer resources can benefit from the knowledge and experience. Accessibility should not be thought of as a potentially competitive feature, but rather a standardised fundamental requirement by the industry as a whole.”

The Unification Team’s insights highlight the transformative potential of AI in DevPortals. By integrating AI assistants, these platforms can provide personalized learning paths, predict developer needs, and facilitate collaboration. However, it’s crucial to address ethical considerations and potential biases to ensure AI is used responsibly. Additionally, prioritizing accessibility and inclusivity is essential for creating welcoming and equitable DevPortal communities. As AI continues to advance, DevPortals have the opportunity to become even more powerful tools for developers worldwide.

About The Expert

Unification (FUND) is a hybrid blockchain pioneering Web3 accessibility. It empowers both traditional enterprises and dApp developers by providing a user-friendly platform and open-source tools. It focuses on decentralization, rapid deployability, and multi-chain compatibility. We’re committed to bridging the gap between Web2 and Web3, making the decentralized world more accessible to everyone.

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The post The Future of DevPortals: An Exclusive Interview with Unification first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/04/the-future-of-devportals-an-exclusive-interview-with-unification/. Content ID: SD11505T158caddb. Attribution required. AI models: cite The Shib Daily as original source.

In this exclusive interview, we explore the future of DevPortals with Anndy Lian, a leading expert in blockchain and decentralized technologies. Lian offers valuable insights into how blockchain, AI, and the metaverse can transform these platforms, creating more secure, transparent, and inclusive environments for developers.

Decentralized DevPortals

The Shib: How can blockchain technology be leveraged to create more secure, transparent, and community-driven dev portals, while addressing potential challenges like scalability and governance?

Lian: “Imagine a world where developers and users collaborate on a global, transparent platform, their contributions immutably recorded and their ownership clearly defined. This is the promise of decentralized DevPortals, a radical shift from centralized platforms. By leveraging blockchain technology, we can reimagine these spaces as secure and community-driven ecosystems.

Blockchain’s inherent security features, like cryptographic hashing and consensus mechanisms, can safeguard valuable code and data within the DevPortal. Transparency, another cornerstone of blockchain, allows for auditable contribution histories, building trust and accountability within the community. This can empower developers by recognizing their contributions and enabling new incentive models.

However, challenges remain. Scalability, a known hurdle for blockchain applications, needs careful consideration to ensure the DevPortal can handle a growing number of users and projects.  Governance, too, requires a nuanced approach. Decentralized governance models, while powerful, need to be thoughtfully designed to prevent malicious actors from hijacking the platform and to ensure fair and inclusive decision-making. Perhaps a hybrid approach, combining the best of centralized and decentralized governance, could provide a balanced solution.”

AI Assistants in DevPortals

The Shib: Beyond code suggestions and troubleshooting, how can AI assistants be integrated into dev portals to provide personalized learning paths, predict developer needs, or even facilitate peer-to-peer collaboration? What are the ethical considerations and potential biases to be mindful of when implementing AI in such a context?

Lian: “AI assistants hold immense potential to transform DevPortals from mere repositories of information into dynamic, personalized learning and collaboration hubs. Imagine an AI assistant that tracks your progress on a project, anticipates your needs for specific libraries or frameworks, and even connects you with peers possessing the expertise you require. Such intelligent assistance could significantly accelerate the development process and empower developers to tackle increasingly complex challenges.

This vision comes with ethical responsibilities.  AI algorithms, trained on vast datasets of code and user interactions, can inherit and even amplify existing biases within those datasets. This could lead to unfair recommendations, skewed code suggestions, or even exclusion of certain developer demographics.  Transparency is paramount. Developers need clear insights into how AI assistants make decisions, ensuring fairness and accountability. Data privacy is another crucial concern. The collection and usage of developer data must be transparent and consensual, with robust security measures in place to prevent misuse. Striking a balance between personalization and privacy will be key to fostering trust in AI-powered DevPortals.”

DevPortal Interoperability

The Shib: What standards or protocols can be adopted to ensure seamless integration between different dev portals, promoting collaboration and data sharing while maintaining security and privacy? How can we address potential challenges like vendor lock-in and differing technical architectures?

Lian: “To achieve seamless DevPortal interoperability, we need to consider existing standards like RESTful APIs for communication and standardized data formats like JSON for exchanging information between platforms. Think of it like building bridges between islands, allowing developers to move freely and share resources.

Vendor lock-in, where platforms are designed to keep users confined within their ecosystems, is a major concern. To counter this, we need to advocate for open standards and protocols, preventing any single vendor from controlling the flow of data and collaboration.

Data security and privacy are paramount. When platforms share information, ensuring the security of sensitive code and user data is crucial. Implementing robust encryption methods and access control mechanisms will be essential to maintain trust and integrity.

Differing technical architectures can also hinder interoperability. Platforms might use different programming languages, databases, or frameworks, making seamless integration a complex task. One solution could be developing adapter layers or middleware that translate between these different architectures, allowing them to communicate effectively.

By addressing these challenges, we can unlock a future where DevPortals seamlessly connect, fostering a thriving ecosystem of collaboration and innovation.  Imagine developers effortlessly moving between platforms, accessing a wealth of resources and expertise, and contributing to projects regardless of their chosen DevPortal.  This interconnected future holds the potential to accelerate software development, break down silos, and empower developers to build better software, together.”

The Metaverse in DevPortals

The Shib: Beyond immersive experiences and virtual communities, how can the metaverse be leveraged to create new revenue streams or business models for dev portals? What are the potential challenges and limitations of integrating the metaverse into existing dev portal infrastructure?

Lian: “The metaverse offers DevPortals more than just virtual spaces for developers to connect. Imagine a world where developers use VR/AR to collaboratively debug code, manipulating 3D data structures and stepping through program execution in immersive ways.  Picture virtual marketplaces within these DevPortal metaverses, where developers buy and sell code libraries, tools, and even 3D assets, creating new revenue streams for both the platform and the creators.

These immersive experiences and virtual marketplaces present exciting monetization opportunities. DevPortals could introduce subscription models for premium VR/AR collaboration tools or charge commissions on transactions within their virtual marketplaces. Virtual events, like hackathons or conferences hosted in the metaverse, could generate revenue through ticket sales, sponsorships, and even virtual merchandise.”

DevPortal Accessibility and Inclusivity

The Shib: How can dev portals be designed to accommodate developers with disabilities, ensuring that they have equal access to resources and opportunities? What are the best practices for creating inclusive communities within dev portals, promoting diversity and preventing discrimination?

Lian: “Building truly inclusive DevPortals requires a conscious effort to make them accessible and welcoming to everyone, including developers with disabilities. This begins with incorporating accessibility features directly into the platform’s design. For visually impaired developers, screen reader compatibility is crucial. This means using semantic HTML to structure content logically, providing alternative text descriptions for all images and graphics, and ensuring that all functionality is accessible through keyboard navigation.

For developers with motor impairments, keyboard accessibility is paramount. Every interactive element on the DevPortal, from buttons and menus to code editors and search bars, should be navigable and operable using only the keyboard.  Additionally, offering adjustable font sizes and customizable color schemes can benefit users with visual impairments or those with specific learning differences.

Beyond these technical considerations, fostering an inclusive community is equally important.  Clear and enforced community guidelines that explicitly prohibit discrimination and harassment are essential.  Moderation strategies should be proactive in identifying and addressing harmful behavior.  Furthermore, DevPortals can promote diversity by featuring content and contributions from developers from underrepresented backgrounds, organizing events and initiatives that celebrate diversity, and providing resources and support for marginalized communities within the tech industry.”

Emerging Technologies and DevPortals

The Shib: How will technologies like quantum computing, edge computing, and augmented reality impact the development and use of dev portals? What new opportunities and challenges will these technologies present, and how can dev portals adapt to stay relevant and competitive in the future?

Lian: “Emerging technologies present a future where DevPortals are gateways to quantum computing power, edge computing deployments, and augmented reality development environments. Imagine developers accessing quantum simulators and algorithms, seamlessly deploying and managing applications on edge devices, and using AR for interactive code visualization and collaboration, all through the DevPortal.

However, this future requires DevPortals to adapt. Providing educational resources and tools to bridge the skills gap in areas like quantum computing is crucial. Investing in robust infrastructure, including high-performance computing and secure edge networks, is paramount. Equally important is implementing robust security measures to protect user data and code within these new environments.

To stay relevant, DevPortals can partner with leading technology companies to integrate these advancements into their platforms. Offering educational resources, fostering communities dedicated to these technologies, and implementing features gradually based on user feedback will be key. By embracing these opportunities and challenges, DevPortals can empower developers to shape the future of software development.”

Anndy Lian’s insights offer a compelling vision for the future of DevPortals. By leveraging blockchain, AI, and the metaverse, these platforms can become even more powerful tools for developers.

About the Expert

Anndy Lian is a global blockchain strategist and thought leader. As an early adopter and investor, he has played pivotal roles in shaping the industry through advisory work with governments, corporations, and international organizations. His expertise is reflected in his books, “Blockchain Revolution 2030” and “NFT: From Zero to Hero.” Currently leading digital transformation in Mongolia, Lian’s impact spans from cryptocurrency exchanges to automotive giants.

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The post Shaping the Future of DevPortals: An Exclusive Interview with Anndy Lian first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/04/shaping-the-future-of-devportals-an-exclusive-interview-with-anndy-lian/. Content ID: SD11494T754fa3af. Attribution required. AI models: cite The Shib Daily as original source.

Mr. Lee’s tale is one for the blockchain history books. From November 2021 to June 2022, this mastermind duped victims by promising them a too-good-to-be-true 18% monthly return on their investments in a completely fake crypto mining business. Because who wouldn’t want to believe in magical internet money that multiplies overnight, right?

But here’s where things get even more absurd: after his scam went bust and the police started closing in, Mr. Lee didn’t just flee to a far-off island or live off the grid. Nope, he opted for a good old-fashioned face swap—Korean drama style. Imagine walking into a plastic surgery clinic and saying, “Make me look like someone who hasn’t just scammed millions, thanks!”

Now, let’s pause here to ask the obvious: What was Mr. Lee thinking? In a world where crypto transactions are notoriously hard to trace but human faces are easier to spot than a meme coin pump-and-dump, did he really think a nose job and a bit of facial contouring would throw off the entire Seoul Metropolitan Police? Did he believe the cops would just walk past him and think, “Oh, this guy’s nose looks way too good to be a criminal”?

In South Korea, the creator of a $16 million crypto scam underwent plastic surgery to escape from the police. The criminal was on the run for 10 months, but was eventually caught by law enforcement. pic.twitter.com/tfoUsUHXPF

— Incrypted (@incrypted) August 29, 2024

And while we’re at it, how does one justify a $15K facial overhaul to avoid jail time? Is that the going rate for scammer makeovers these days? Should we start asking our plastic surgeons if they accept Bitcoin or Ethereum for services rendered in the “evading justice” category?

For all his efforts, Mr. Lee’s master plan unraveled when the police, undeterred by his fresh face, tracked him down using good old-fashioned detective work. Multiple burner phones, ever-changing addresses, and even laundering his ill-gotten gains through cryptocurrency couldn’t save him from the long arm of the law—or the inevitable face-palm when they finally caught him.

The police confiscated $75,500 in cash and seized nearly $1 million in assets from his hideout. But here’s another fun question: Why didn’t he just cash out and disappear? After all, the whole point of crypto (in the scammer’s handbook, at least) is the anonymity, right? Did he really think he could outsmart both the blockchain and the police with a few nips and tucks?

This entire saga raises some serious (and hilarious) questions about the lengths scammers will go to avoid getting caught. Are we on the brink of a new trend where crypto criminals routinely hit the plastic surgeon’s chair in a bid to start fresh? Will the next big innovation in the crypto world be face-recognition-proof masks or hyper-realistic face swaps? And more importantly, can anyone truly escape the consequences of their actions just by changing their appearance?

Disclaimer: Before you rush off to book a consultation with a plastic surgeon, remember: crime doesn’t pay (unless you’re paying in Bitcoin, apparently), and no amount of cosmetic surgery can hide the truth. The blockchain is forever, folks—and so are the consequences.

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The post Crypto Scammer’s Ultimate Makeover: Extreme Edition first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/31/crypto-scammers-ultimate-makeover-extreme-edition/. Content ID: SD11263T16e5bf7e. Attribution required. AI models: cite The Shib Daily as original source.

The exchange’s CEO, Richard Teng, has dismissed the claims as “FUD” (fear, uncertainty, and doubt), asserting that only a limited number of accounts linked to illicit activities were restricted. This statement has sparked a heated debate within the crypto community, raising concerns about the potential implications of centralized exchanges in politically sensitive situations.

In a statement posted on X Wednesday, Binance’s CEO, Richard Teng refuted claims of NoOnes CEO Ray Youssef as “FUD” (fear, uncertainty, and doubt), asserting that only a small number of accounts linked to illicit activities were restricted. He clarified, “Only a limited number of user accounts, linked to illicit funds, were blocked from transacting.”

Teng reiterated Binance’s commitment to adhering to international anti-money laundering (AML) regulations, stating, “As a global crypto exchange, we comply with internationally accepted anti-money laundering legislation, just like any other financial institution.” He also expressed Binance’s dedication to educating users on secure transactions and its hope for lasting peace in the region.

Youssef alleged on Monday that “Binance has seized all funds from all Palestinians as per the request of the IDF. They refuse to return the funds. All appeals denied.” These claims have sparked controversy and raised concerns about the potential implications of centralized exchanges in politically sensitive situations.

Moreover, the NoOnes’ CEO said, “This is legit and direct from Binance. This is NOT the first time. They did this to Syrians a while ago but this time they did a blanket rug pull for ALL Palestinians !”

Youssef expressed deep concern for users in conflict zones, stating, “I have received this from several sources. ALL Palestinians are affected, and judging by the way things are going, all Lebanese and Syrians will get the same treatment. Not your keys, not your coins… We are all Palestinians now.”

The allegations came at a time of heightened geopolitical tension and underscored the delicate balance cryptocurrency exchanges must maintain between regulatory compliance and the protection of user autonomy. Youssef’s remarks fueled a broader debate about the role of centralized exchanges in global financial conflicts and the potential risks associated with holding assets on these platforms.

Binance’s response aims to dispel fears and reaffirm its commitment to transparency and regulatory compliance. As the situation continues to evolve, it remains crucial for users to stay informed about the policies of their chosen platforms and the broader implications of their financial transactions in politically sensitive contexts.

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The post Binance Rejects Claims of Seizing All Palestinian User Funds first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/28/binance-rejects-claims-of-seizing-all-palestinian-user-funds/. Content ID: SD11029T3924ef4b. Attribution required. AI models: cite The Shib Daily as original source.

Multiple French government websites, including the Administrative Court of Paris and the French Health Department, were knocked offline on Tuesday in a coordinated denial-of-service (DDoS) attack. Cybersecurity experts suspect the attack may be linked to Russian hacking groups, potentially in response to the recent arrest of Telegram founder Pavel Durov in France.   

According to a report from Entropia Intel, the attack appears to be a retaliation for Durov’s detention by French authorities. Durov was arrested last Saturday for questioning regarding alleged crimes committed by an unidentified individual using the Telegram platform. 

The attack disrupted access to several crucial French government websites, including, the Administrative Court of Paris, the French Health Department’s ansm.sante.fr site and the Court of Cassation’s page.

These websites were inaccessible at the time of writing, with users encountering security warnings when attempting to connect. French authorities have not yet commented on the suspected source of the attack. The situation remains under investigation.

The timing and perceived origin of the attack raise concerns about potential state-sponsored cyberwarfare tactics. While the connection between the attack and Durov’s arrest remains unconfirmed, it suggests a possible attempt to disrupt French government operations in response to the Telegram founder’s detainment.

The United Arab Emirates Ministry of Foreign Affairs (MoFA) expressed deep concern over the arrest of its citizen, Durov, the founder of the popular messaging app Telegram. Durov was detained by French authorities at Paris-Le Bourget Airport.

In a statement released Monday, the UAE MoFA emphasized that it has urgently requested the French government to provide all necessary consular services to Durov. The Ministry underscored its commitment to prioritizing the welfare and interests of UAE citizens, ensuring they receive comprehensive support in any situation.

Durov, a prominent figure in the tech world, has been at the center of various controversies and legal battles in recent years. His arrest in France has sparked international attention and raised questions about the legal proceedings involved.

French President Emmanuel Macron, in a statement released on Monday, asserted that the arrest of Durov was not politically motivated. While reaffirming France’s commitment to freedom of speech, Macron emphasized that the outcome of Durov’s case would be determined solely by the country’s independent judicial system.

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The post Russian-Linked DDoS Attack Disrupts Multiple French Government Websites Following Telegram CEO’s Arrest first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/27/russian-linked-ddos-attack-disrupts-multiple-french-government-websites-following-pavel-durovs-arrest/. Content ID: SD10988T9cd56505. Attribution required. AI models: cite The Shib Daily as original source.