Best crypto memes of the day – June 2nd

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• US Judge grants SEC permission to seek South Korea’s assistance in Terraform Labs case

  TL;DR Breakdown A U.S. judge approved the SEC’s request to question Terraform Labs’ co-founder Daniel Shin in South Korea, part of the case involving the $40 billion crypto  loss. The inquiry will examine Chai Corp.’s payments, Terraform’s blockchain use, and allegations of fraudulent cryptocurrencies and deceptive transactions. Description U.S. District Judge Jed Rakoff has granted the Securities and Exchange Commission (SEC) to engage the South Korean government’s cooperation in questioning Daniel Shin, the co-founder of Terraform Labs, and in gathering evidence from Chai Corp., a payments company.  This decision marks a significant development in the SEC’s case against Terraform Labs and its ex-CEO, … Read more U.S. District Judge Jed Rakoff has granted the Securities and Exchange Commission (SEC) to engage the South Korean government’s cooperation in questioning Daniel Shin, the co-founder of Terraform Labs, and in gathering evidence from Chai Corp., a payments company.  This decision marks a significant development in the SEC’s case against Terraform Labs and its ex-CEO, Do Kwon, concerning an alleged illicit scheme that led to the loss of about $40 billion in cryptocurrency value….

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• Bybit obtains crypto exchange license in Cyprus

  TL;DR Breakdown Bybit secures license in Cyprus, expanding global presence and becoming a trusted platform in the Cyprus cryptocurrency market. Cyprus emerges as a thriving hub for crypto activities, attracting companies with favorable regulations and anticipation of the upcoming EU-wide framework. Bybit strategically positions itself amidst regulatory consolidation, demonstrating a commitment to compliance and security in the industry. Description Dubai-based crypto exchange Bybit has achieved a significant milestone by obtaining a license to operate a crypto exchange and offer custody services in Cyprus. This move comes after Bybit faced challenges in Japan and exited the Canadian and U.K. markets. Bybit’s commitment to regulatory compliance and dedication to robust frameworks have been key factors in … Read more Dubai-based crypto exchange Bybit has achieved a significant milestone by obtaining a license to operate a crypto exchange and offer custody services in Cyprus. This move comes after Bybit faced challenges in Japan and exited the Canadian and U.K. markets. Bybit’s commitment to regulatory compliance and dedication to robust frameworks have been key factors in this achievement. In a press release, the company’s…

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• Optimism distributes unclaimed tokens from first airdrop, totaling $66.7 million

  TL;DR Breakdown Optimism has directly distributed unclaimed tokens from its first airdrop to eligible addresses, amounting to an equivalent of $66.7 million. The distribution did not significantly impact the market price of Optimism’s governance token, OP, which showed only a 0.5% increase over the past 24 hours. The airdrop announcement led to scam attempts mimicking the new airdrop, prompting Optimism to emphasize its long-term development roadmap for the second-layer network on Ethereum. Description Optimism, a leading Layer 2 network on Ethereum, has completed the direct distribution of unclaimed tokens from its first airdrop, amounting to an equivalent of $66.7 million. The airdrop initially commenced on June 1, 2022, and had successfully distributed 166 million of the nearly 215 million tokens reserved for the airdrop. However, about a quarter … Read more Optimism, a leading Layer 2 network on Ethereum, has completed the direct distribution of unclaimed tokens from its first airdrop, amounting to an equivalent of $66.7 million. The airdrop initially commenced on June 1, 2022, and had successfully distributed 166 million of the nearly 215 million tokens reserved for…

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• Bitcoin miners earn big as BRC-20 tokens boost transaction fees

  TL;DR Breakdown Bitcoin miners are winning big in terms of revenue following a massive boost in transaction fees. Miners experience increased demand for BRC-20 tokens. Description Bitcoin miners have experienced a significant increase in funds from transaction fees in the past quarter, generating a multimillion-dollar windfall driven by the popularity of BRC-20 tokens and the introduction of Ordinals, according to Coin Metrics. BRC-20 tokens boost Bitcoin miner’s revenue In its latest “State of the Network” report, the crypto analytics firm revealed … Read more Bitcoin miners have experienced a significant increase in funds from transaction fees in the past quarter, generating a multimillion-dollar windfall driven by the popularity of BRC-20 tokens and the introduction of Ordinals, according to Coin Metrics. BRC-20 tokens boost Bitcoin miner’s revenue In its latest “State of the Network” report, the crypto analytics firm revealed that Bitcoin miners earned $184 million in transaction fees from April to June, marking a notable shift in the previously tepid fee market. While this figure may appear small compared to the overall $2.4 billion in Bitcoin mining revenue during that…

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• Bitcoin mining giant Riot platforms rakes in $31M in shocking power credits

  TL;DR Breakdown Riot Platforms made headlines in August by reporting a decrease in the number of Bitcoins mined compared to the previous month, but the real eye-popping figure was the $31 million worth of power credits they received. Riot Platforms shared key insights into their power strategy in a presentation released on September 6th a strategy which hinges on three distinct mechanisms, all intricately tied to their long-term contract with ERCOT. Description In the world of Bitcoin mining, Riot Platforms made headlines in August by reporting a decrease in the number of Bitcoins mined compared to the previous month, but the real eye-popping figure was the $31 million worth of power credits they received. CEO Jason Les underscored this astonishing achievement, noting that the credits were equivalent … Read more In the world of Bitcoin mining, Riot Platforms made headlines in August by reporting a decrease in the number of Bitcoins mined compared to the previous month, but the real eye-popping figure was the $31 million worth of power credits they received. CEO Jason Les underscored this astonishing achievement, noting…

  Article 2023年9月7日