Top crypto tweets of the day – June 5th

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• 3AC co-founders promise to pay creditors from future earnings

  TL;DR Breakdown 3AC co-founders have promised to pay creditors from their gains in the future in what they called the ‘Shadow Recovery Process’ Controversy surrounds co-founders as the liquidation process drags on. Description The co-founders of Three Arrows Capital (3AC), a crypto hedge fund that collapsed in 2022, have announced their intention to donate a portion of their earnings from their latest crypto venture, Open Exchange (OPNX), to creditors who suffered losses in the fund’s collapse. Kyle Davies, one of the co-founders, expressed the belief that such a … Read more The co-founders of Three Arrows Capital (3AC), a crypto hedge fund that collapsed in 2022, have announced their intention to donate a portion of their earnings from their latest crypto venture, Open Exchange (OPNX), to creditors who suffered losses in the fund’s collapse. Kyle Davies, one of the co-founders, expressed the belief that such a gesture would be a form of “good karma” towards the creditors. 3AC co-founders plan ‘Shadow Recovery Process’ During a Twitter Space session on July 3, Davies outlined the proposed “shadow recovery process” as an…

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• PancakeSwap launches tower defense game Pancake Protectors, integrating CAKE tokens

  TL;DR Breakdown PancakeSwap, a decentralized cryptocurrency exchange (DEX), has officially launched its tower defense game, Pancake Protectors, on the Mobox Gamefi platform. The game integrates PancakeSwap’s native token, CAKE, allowing players to earn rewards and access various in-game benefits by utilizing the token. The launch of Pancake Protectors aims to enhance the PancakeSwap ecosystem and attract a wider user base while positively impacting the CAKE token’s price. Decentralized cryptocurrency exchange PancakeSwap has officially launched its tower defense game, Pancake Protectors, on the Mobox platform. The game’s beta version was released last week, and now players can earn the platform’s native token, CAKE, while playing. 🎉 The official launch of Pancake Protectors has arrived! 🛡 Unite your heroes, protect your territories, and claim victory! 🦸🎮 Immerse yourself in the captivating world of tower defense gameplay now: https://t.co/gq5947psCe 🐰 Holders of PancakeSwap Bunnies & Squads gain… pic.twitter.com/D0hAwPcWQB — PancakeSwap🥞Ev3ryone’s Favourite D3X (@PancakeSwap) May 29, 2023 Pancake Protectors offers players various benefits and utilities by using CAKE within the game. These include claiming game heroes, recharging in-game resources, unlocking new levels for extra…

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• Tornado Cash founders face money laundering charges

  TL;DR Breakdown Tornado Cash founders, Semenov and Storm, face legal issues with U.S. authorities. Charges include money laundering and operating an unlicensed money business. Third co-founder, Pertsev, arrested in the Netherlands. Description The crypto landscape just faced a whirlwind of events as founders of the Tornado Cash crypto mixer find themselves neck-deep in legal troubles. With the backdrop of an ever-evolving cryptocurrency ecosystem, such events paint a vivid picture of the challenges and growing pains in the industry. The Charges Laid Bare Roman Semenov, a name now … Read more The crypto landscape just faced a whirlwind of events as founders of the Tornado Cash crypto mixer find themselves neck-deep in legal troubles. With the backdrop of an ever-evolving cryptocurrency ecosystem, such events paint a vivid picture of the challenges and growing pains in the industry. The Charges Laid Bare Roman Semenov, a name now infamous in the crypto community, landed himself on the U.S. Treasury’s Office of Foreign Assets Control (OFAC) notorious list, the Specially Designated Nationals and Blocked Persons (SDN). But he isn’t the only one. His partner…

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• Michael Saylor tips future regulation to favor Bitcoin

  TL;DR Breakdown Microstrategy’s Michael Saylor has tipped regulators to drum up rules that will favor Bitcoin in the future. Bitcoin continues to steady upward despite regulatory uncertainty. Michael Saylor, co-founder of MicroStrategy and a prominent advocate for Bitcoin, has expressed his belief that enforcement actions taken by US regulators against cryptocurrency firms could ultimately benefit the leading cryptocurrency. Saylor suggested that such actions, including those by the Securities and Exchange Commission (SEC), may result in a Bitcoin-focused industry that could drive its price to exceed $250,000. Michael Saylor drums regulatory clarity for Bitcoin Saylor highlighted the distinction made by SEC Chair Gary Gensler, who excluded Bitcoin from being classified as a security. According to Saylor, this favorable treatment of Bitcoin by regulators positions it uniquely among cryptocurrencies. He further stated that US regulators seem to lack a positive outlook on cryptocurrencies in general, showing little interest in stablecoins, crypto-tokens, or crypto-based derivatives. The catalyst behind the projected significant price surge, according to Michael Saylor, would be the crypto exchanges. He explained that the SEC views crypto exchanges as platforms for…

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• U.S. commerce secretary gears up for crucial China visit

  TL;DR Breakdown U.S. Commerce Secretary Gina Raimondo will visit China from August 27 to 30. This is the third visit by a high-ranking U.S. official to China recently. China highlights the visit as an invitation from their Minister of Commerce, Wang Wentao. Description Amid a myriad of international tensions and fragile relations, U.S. Commerce Secretary Gina Raimondo is charting a course straight to China’s heartland. Scheduled for the end of August, Raimondo’s trip marks a strategic move in international diplomacy between the two global giants. Navigating Choppy Diplomatic Waters Gina Raimondo isn’t just making a cursory visit. Her … Read more Amid a myriad of international tensions and fragile relations, U.S. Commerce Secretary Gina Raimondo is charting a course straight to China’s heartland. Scheduled for the end of August, Raimondo’s trip marks a strategic move in international diplomacy between the two global giants. Navigating Choppy Diplomatic Waters Gina Raimondo isn’t just making a cursory visit. Her sojourn from August 27 to 30 comes hot on the heels of high-ranking U.S. officials setting their sights on China. Remember Antony Blinken’s rendezvous…

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