• SHIB recently faced issues due to the controversy surrounding the Shibarium code, but its beta launch is hitting the metaverse this week.
• Famous YouTube influencer, Shytoshi Kusuma, shared his skepticism of SHIB causing the lead developer to call him out.
• A lawsuit is being brought against crypto influencers for allegedly promoting failed projects, including BitBoy and others.

SHIB’s Beta Launch

The popular meme coin SHIB recently faced issues due to the controversy surrounding the Shibarium code. But the latest on the layer 2 network is that its beta launch will hit the metaverse this week. The anticipation within the community continues to grow as users are eager to see what will happen with this project.

Shytoshi Kusuma’s Skepticism

Famous YouTube influencer Shytoshi Kusuma recently shared his skepticism of SHIB which caused a response from lead developer. In a tweet, he called out BitBoy and requested that he stops fudding instead of getting involved in a “real beef”. Some users responded to Kusuma’s post urging him fix problems instead of fighting with each other over it.

Lawsuit Against Crypto Influencers

A recent lawsuit alleges that crypto influencers such as BitBoy, Kevin Paffrath and Erika Kullbergm have deceived investors into spending money on FTX. This case follows in line with other lawsuits against popular influencers who made money promoting failed crypto projects. BitBoy responded by stating that he was excited about this legal battle as it gives him an opportunity to countersue plaintiffs and their lawyers to prove his non-involvement in FTX.

BitBoy Claims Founder Has Links To SBF

Bitboy also claimed that he would expose Shiba Inu’s principal founder after Rancune (@Rancune_eth) tweeted claiming that Shibarium was a ripped chain from Rinia and developers forgot to change the chain ID . Kusuma responded by accusing Bitboy of having real beef with someone else instead of Shiba Inu, leading some users to urge them both to focus on fixing problems rather than arguing about it .

Price Of SHIBUSDt On Tradingview

The price of SHIBUSDT registered a 3% gain on Tradingview despite all these developments happening around it . This suggests that while some people remain skeptical about SHIB , there is still hope for those who have invested their time and money into it .

• The FTX exchange and its sister company Alameda Research recently sold their interest in Sequoia Capital to N Abu Dhabi sovereign wealth fund for $45 million.
• This deal was approved by US Bankruptcy Court for the District of Delaware judge John Dorsey.
• This is part of FTX’s attempts to raise enough funds to pay creditors after its bankruptcy filing.

FTX Exchange Sells Interest In Sequoia Capital

The saga of the FTX exchange, its sister company Alameda Research, and former CEO Sam Bankman-Fried continues following the bankruptcy proceedings. A recent court document revealed that Alameda Research has agreed to sell its interest in Sequoia Capital to N Abu Dhabi sovereign wealth fund for $45 million. The sale was approved by US Bankruptcy Court for the District of Delaware judge John Dorsey.

Reasons Behind Sale Agreement

The agreement was made due to the speed at which the Purchaser – Al Nawwar Investments RSC, a company under Abu Dhabi government – would execute the Sale Transaction. Moreover, it had offered a superior amount compared to four other prospective buyers, making it more appealing.

Assets Sold After Bankruptcy Filing

Dorsey had previously signed off on some assets owned by FTX including those of LedgerX, Embed, FTX Europe and FTX Japan after filing for bankruptcy. According to Reuters, SBF and some employees used a weekend before filing for bankruptcy in November 2020 to transfer some liquid crypto assets and cash from FTX worth over $5 billion.

Agreement To Sell Sequoia Interest

Alameda Research’s recent agreement with Abu Dhabi government is an attempt by FTX to raise enough funds to pay creditors after Binance stopped processes for buying the exchange in November 2022. On March 8th 2021, Dorsey also approved a claim worth $445 million made by Alameda Research on Voyager Digital regarding loan repayments.

Conclusion

In conclusion , selling its interest in Sequoia is one of many attempts that have been made by FTX and its related parties since it filed for bankruptcy last year as they look towards paying off their creditors soon .

• Litecoin recently released a network upgrade to improve its security and address critical issues.
• The upgrade encouraged miners to join the network, resulting in an increase in hashrate.
• The coin’s recent price drop has caused some investors to lose interest, indicating bearish movement in the market.

Litecoin Network Upgrade

The Litecoin Foundation recently announced a network upgrade called Litecoin Core 0.21.2.2 on March 2nd with the aim of improving its security and fixing any critical issues that affect nodes. This upgrade was intended to make the network more efficient and meet the needs of users better by resolving any problems that impede seamless transactions.

Price Spike And Upgrade Encouraged Miners

The price of Litecoin (LTC) rose steadily from January 1st until February 3rd when it hit $101 before trading between $80 – $100 on some days until March 3rd when it was valued at $89 at press time. This surge in value encouraged more miners to join the network, as indicated by a slight uptick in hashrate according to Coinwarz’s data which showed new miners rushing in.

Miners May Lose Interest Following Price Drop

However, LTC experienced a 7% price drop within 24 hours, causing some investors to become wary and leading to bearish movements being seen on its daily chart with RSI headed below the neutral mark and downtick on Chaikin Money Flow (CMF). Additionally, the price of LTC touched the lower part of Bollinger Bands which is an indication of high volatility while MACD also shows a bearish move in the LTC market suggesting more bear runs are likely over coming days.

Impact Of Price Drop On Miners

It remains unclear how this dip will affect miners’ interest as they may be discouraged from joining if they anticipate further losses due to their investments not yielding satisfactory returns or profits due their efforts not being rewarded enough given current market conditions or vice versa depending on various factors such as difficulty levels etcetera related to mining processes itself.

Conclusion

In conclusion, while Litecoin Core 0.21.2.2 update has been successful in encouraging miners into joining its network, recent price drops have raised questions regarding whether these same people will remain invested given current market conditions and what impact this could have on future growth prospects for crypto space overall considering importance of miner participation for blockchain networks health status maintenance long-term basis .

• Ukraine has been using cryptocurrencies to purchase combat essentials and other military equipment since the Russian invasion in February 2022.
• Donations of Bitcoin, Ethereum, stablecoin and other digital currencies have been used to aid the Ukrainian military effort.
• Binance has established a “Ukraine Emergency Relief Fund” crypto-first crowdfunding site that accepts donations easily.

Conflict Between Ukraine & Russia Sheds Light on Crypto Benefits

The ongoing conflict between Ukraine and Russia has shed light on the advantages of using digital currencies for military aid. When Russia began its invasion of Ukraine in February 2022, the Ukrainian government turned to social media to ask for donations in bitcoin, ethereum, stablecoin and other types of cryptocurrencies. The response was overwhelming, with more than 100,000 people contributing to help the Ukrainian military effort.

Crypto Used To Purchase Combat Essentials

According to Alex Bornyakov, the Ukrainian deputy digital minister, the country has been using crypto to purchase combat essentials like helmets, bulletproof vests, optical sights and other combat equipment. Around 60% of the military hardware suppliers were able to accept crypto which proved beneficial due to its speediness compared traditional financial systems that would take too long for such purchases.

Binance Launches ‘Ukraine Emergency Relief Fund’

Binance, the largest cryptocurrency exchange in the world launched a “Ukraine Emergency Relief Fund,” a crypto-first crowdfunding site that accepts donations easily. International donations poured in—nearly $55 million in a week back in March—the Ukrainian government realized they could capitalize on this form of donation as it was quicker than traditional methods.

Advantages Of Crypto During Times Of Crisis

Ukraine’s capital city of Kyiv was well placed for benefiting from these expansionary networks since their invasion broke out last year; research firm placed them at No 4 worldwide for cryptocurrency adoption last year so when they officially recognized cryptocurrencies in September 2021 they had already developed an understanding of how it could be used during times of crisis..

Conclusion

In conclusion crypto has proven itself as an invaluable asset during times of crisis with international donations pouring into help support those affected by war or natural disasters quickly and efficiently proving that blockchain technology can be used beneficially across many different industries not just finance or trading but also humanitarian efforts too!

• Paxos, the issuer of Binance’s BUSD stablecoin, is in ongoing discussions with the Securities Exchange Commission (SEC) following a regulatory crackdown on this industry.
• Paxos has stopped minting BUSD tokens after an order from the New York State Department of Financial Services (NYDFS).
• The SEC is questioning whether stablecoins are securities under their jurisdiction and if so, other stablecoins would have the same label.

Paxos In Discussion With SEC Following Regulatory Crackdown

According to a Reuters report, Paxos, the first regulated blockchain infrastructure platform behind Binance’s stablecoin BUSD, is in ongoing discussions with the Securities Exchange Commission (SEC) following the regulatory crackdown on this industry. According to the report, Paxos CEO Charles Cascarilla said in an email sent Saturday that the company is in ongoing “constructive conversations” with the SEC. The talks began following the SEC’s lawsuit, which alleges that the Binance branded stablecoin is unregistered security in U.S. jurisdiction.

Paxos Halts Minting Of BUSD Tokens After Order From NYDFS

Paxos has stopped minting new BUSD tokens and will work in coordination with the NYDFS. Paxos said it would also “terminate its relationship” with the largest crypto exchange, Binance, following the SEC and NYDFS investigations. BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day only at Wild.io Play Now!

BUSD Is A StableCoin Associated With The Crypto Exchange

BUSD is a stablecoin associated with cryptocurrency exchange Binance. It aims to provide a more stable alternative for traders and investors looking to avoid volatility of digital asset market each token being pegged one-to-one to US dollar held in reserve.

SEC Questions Whether Stablecoins Are Securities Under Their Jurisdiction

The notice issued by New York Financial Services department questions whether or not these coins are securities under US watchdogs jurisdiction if so then other cryptocurrencies would have similar labels for SEC as well however no specific charges have been made yet against them by regulator body thus far .

Paxos Disagrees That Its Token Is Unregistered Security

Paxos has stated that it disagrees with SEC enforcement because “BUSD is not a security under federal securities laws.” On the other hand Townsend Lansing head of product at CoinShares Europe’s largest digital asset investment firm addressed this matter stating that they would defend their position through litigation if need be .

• U.S. regulators have recently taken enforcement actions against various crypto firms, including Kraken and Paxos.
• Rumors of SEC issuing a Wells Notice to Circle, the issuer of USDC stablecoin, caused panic in the industry.
• Dante Dispaerte from Circle denied receiving any Wells Notice from the SEC and journalist Eleanor Terrett apologized for her wrong post about it.

Recent Regulation Tension In The Crypto Industry

The recent regulatory tension in the crypto industry has caused fear, doubt, and uncertainty (FUD) among investors. U.S. regulators have taken enforcement actions against some crypto firms such as Kraken which was fined and had its staking program halted by the Securities and Exchange Commission (SEC). Additionally, both New York Department of Financial Services (NYDFS) and SEC were on Paxos, which is the issuer of Binance USD stablecoin.

Rumors Of Enforcement Action On Other Stablecoins And Their Issuers

Rumors began to circulate that USDC might be the latest target of the SEC’s enforcement action with some fingers pointing at its issuer Circle. This caused panic in the industry which led to people selling off all their USDC tokens due to these rumors.

Circle Counters Rumors Of Wells Notice From The SEC

On February 15th, Dante DiPaerte, who is Chief Strategy Officer and Head of Global Policy at CirclePay debunked these rumors by stating that Circle had not received a Wells Notice from the regulator which usually discloses its intended legal action against a company leaving it more time to prepare a response.

Journalist Apologizes For Wrong Post About It

Journalist Eleanor Terrett also took to Twitter to apologize for her wrong post concerning circle claiming that she made an error while trying to set things right with an open apology. Even though she admitted her mistake there is still FUD spreading around this issue due to reactions circulating around this topic on social media platforms like Twitter where one user reported selling off all his USDC tokens due to these rumors circulating around them.

Total USDC Market Cap Rest At $41 Million

Despite all this drama happening around USDC stablecoin its total market cap still rests at $41 million according to Tradingview data showing that investors are still confident in this asset despite all this confusion happening around it .

• Ethereum whales have significantly increased their holdings of Shiba Inu, making it the largest token position among top 5,000 investors.
• SHIB is currently trading at a three-month high and has seen double-digit gains over the past week.
• Ethereum whales are driving the price higher as SHIB is the most traded token among them in the last 24 hours.

Ethereum Whales Boost Shiba Inu

Shiba Inu (SHIB) has seen its price increase significantly over the past week due to renewed interest from investors and especially Ethereum whales. At present, these top 5,000 Ethereum wallets hold more than 50.5 trillion SHIBs worth approximately $708.4 million, accounting for 17.82% of their total value holding, which puts it ahead of popular stablecoins USDT and USDC.

Price Surge

The newfound momentum has caused SHIB’s price to surge to a three-month high despite multiple drawdowns over time. The meme coin is up more than 19%, and this increase in value has been largely driven by Ethereum whales as they are currently responsible for most of the trades involving SHIB in the last 24 hours.

Previous Price Decline

It should be noted that Shiba Inu had fallen over 80% from its all-time high during 2022, prompting immense bearish sentiment among investors at that time. This led to these large Ethereum wallets reducing their holdings drastically and eliminating Shiba Inu’s position as the largest token holding by dollar value among them at one point.

Renewed Interest

However, there has been a turn in the tide with renewed interest now pouring into SHIB through these large wallets once again, allowing it to reclaim its spot on top of this list of holdings with an impressive 17% share compared to other tokens such as USDT and USDC which make up 17% and 14% respectively.

Benefits For Investors

This renewed attention from investors is certainly beneficial for those who hold Shiba Inu as it gives them greater exposure in terms of market capitalization and liquidity when compared to other tokens held by these same wallets. As such, those looking for a potential profit could benefit from taking advantage of this current situation while it lasts

• The UK government has proposed new regulations to the crypto industry to protect customers and clamp down on loan activities.
• The regulations focus on financial intermediaries and custodians that store crypto assets on behalf of clients.
• The proposed regulations are aimed at enhancing consumer protection and the operational resilience of firms.

The UK government has recently taken a major step towards regulating the cryptocurrency industry, setting out several measures to curb the growing number of bad actors in the market. In an industry consultation that took place on Tuesday, the UK laid out its plans to regulate the crypto industry.

The proposed regulations focus on financial intermediaries and custodians that store crypto assets on behalf of clients. The government is keen on enabling strict regulation on risky loans between multiple crypto firms, with the primary goal of consumer protection. Additionally, the regulations are aimed at enhancing operational resilience of firms and ensuring that customers are not exposed to any losses.

The government is also looking to introduce a licensing regime that will help protect customers from fraud and money laundering. This will include introducing a set of rules and guidelines for crypto businesses to follow, such as making sure that customer funds are kept secure and away from hackers. Furthermore, the UK government will also look to ensure that customers are able to access their funds in the event of a dispute or insolvency.

The proposed regulations are set to bring a much-needed level of transparency and trust to the cryptocurrency industry, with the aim of creating a more secure environment for customers and businesses alike. The UK government also hopes that these regulations will help make the cryptocurrency industry more attractive to potential investors, thus helping to increase adoption of cryptocurrencies.

Overall, the UK government is taking a proactive approach towards regulating the cryptocurrency industry, which is a welcome development. With stricter regulations in place, the industry is likely to become more attractive to both new and existing investors, thus providing a more secure and transparent environment for all those involved.

• Axie Infinity’s native token, AXS, has seen a 43% growth in the past 24 hours with the biggest gains being made in the bi-weekly time frame.
• Despite this, the game has been experiencing a continuous decline in its player base since January 2022.
• The biggest drop in the player base was back in June 2022 when the game lost 1.2 million players in the span of a month.

The crypto market has been a roller coaster ride in the last year, with billions wiped off the market during the winter of 2022. Projects such as Axie Infinity were not spared from the mayhem, with their native token AXS losing up to 91% of its value during the period. However, with a reinvigorated crypto sentiment in the market, AXS has been on the rise since the start of the year. According to CoinGecko, the token has seen a 43% growth in the past 24 hours with the biggest gains being made in the bi-weekly time frame.

This rise in price might be a sign of revival for Axie Infinity, however, the game is still facing a downward spiral in its player base. According to activeplayer.io, the game has been seeing a continuous decline in its fan base since hitting an all-time-high back in January of 2022. The biggest drop in the player base was back in June 2022 when the game lost 1.2 million players in the span of a month. This puts the game near its November 2020 lows, which is a pretty bad look for one of the biggest play-to-earn games in the market.

With the rise in price of AXS, the future of Axie Infinity remains uncertain. Factors such as the game’s ability to attract new players and retain its existing ones, as well as the overall state of the crypto market, will play a major role in determining the game’s fate. Despite the downward trend in player count, the crypto market’s positive sentiment could help the game to recover and attract more players, consequently leading to a rise in the price of AXS. Only time will tell if Axie Infinity can maintain its momentum and revive its player base.

• The South Africa Advertising Regulatory Board (ARB) recently updated its code of advertising practice, introducing new guidelines to protect consumers from unethical cryptocurrency advertising.
• These guidelines mandate companies and individuals dealing with cryptocurrency products and services in South Africa to abide by Section III of the country’s advertising code.
• The new guidelines include that crypto advertisements must inform potential investors of the potential risks and losses, and must give balanced messages around returns, features, benefits and risks of the associated product or service.

The South Africa Advertising Regulatory Board (ARB) recently announced the introduction of new guidelines for the cryptocurrency advertising sector. This move follows a growing demand for consumer protection in the emerging crypto market, and the need for greater transparency when advertising crypto products and services.

The updated code of advertising practice, which applies to companies and individuals dealing with cryptocurrency products and services in South Africa, mandates that all crypto advertisements must abide by Section III of the country’s advertising code. This includes that all crypto adverts must expressly and clearly state that investments may result in the loss of capital, as the value of cryptocurrencies is variable and can go up as well as down. Furthermore, the adverts must not be sugar-coated or deny warnings related to potential investment losses.

In addition to potential risks, the advertisements must also provide a detailed and easily understandable explanation of the offer in order to protect consumers from being misled. This includes providing balanced messages around returns, features, benefits, and risks associated with the product or service being advertised.

The ARB’s updated code of advertising practice highlights the importance of consumer protection in the crypto market, and serves as a reminder that potential investors should always conduct their own research into any cryptocurrency product or service before investing. The code also serves as a warning to companies and individuals dealing with cryptocurrency products and services in South Africa to ensure their advertising practices are compliant with the country’s laws.