Best crypto memes of the day – August 9th

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• Credit Suisse bondholders prepare lawsuit – The details

  TL;DR Breakdown Bondholders are planning to sue Switzerland in U.S. courts over Credit Suisse’s state-orchestrated rescue losses. The legal action is spearheaded by law firm Quinn Emanuel, which has experience in taking on nation-states in court. The crux of the lawsuit revolves around the controversial decision to eliminate $17bn of Credit Suisse’s bonds during the bank’s takeover by UBS. Description The smoke hasn’t cleared from the firestorm surrounding Credit Suisse’s state-sanctioned rescue, and already, the embers of discord are lighting up. Bondholders, having been burnt to the tune of billions, have girded their loins for a courtroom showdown against none other than the Swiss state itself. A Challenge to Swiss Sovereignty Law firm Quinn Emanuel … Read more The smoke hasn’t cleared from the firestorm surrounding Credit Suisse’s state-sanctioned rescue, and already, the embers of discord are lighting up. Bondholders, having been burnt to the tune of billions, have girded their loins for a courtroom showdown against none other than the Swiss state itself. A Challenge to Swiss Sovereignty Law firm Quinn Emanuel is orchestrating the bold move, readying a…

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• Bollywood megastar Govinda under the EOW scanner for possible crypto fraud

  TL;DR Breakdown Govinda is under investigation by the EOW for his possible association with the fraudulent crypto scheme Solar Techno Alliance. The mastermind behind the scam, Gurtej Singh Sidhu, has been arrested, promising investors high returns through the scheme, which turned out to be a multi-level marketing operation. Description In a recent twist to the tumultuous world of cryptocurrencies, Bollywood icon Govinda finds himself caught in a legal quagmire. The Economic Offences Wing (EOW) of the Odisha police is deep-diving into the actor’s potential ties with Solar Techno Alliance (STA-Token) – a front for a multi-level marketing operation that falsely projected itself as a … Read more In a recent twist to the tumultuous world of cryptocurrencies, Bollywood icon Govinda finds himself caught in a legal quagmire. The Economic Offences Wing (EOW) of the Odisha police is deep-diving into the actor’s potential ties with Solar Techno Alliance (STA-Token) – a front for a multi-level marketing operation that falsely projected itself as a cryptocurrency entity. Contents hide 1 Govinda’s association with the crypto scheme 2 The scam unearthed 3 EOW’s manhunt…

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• Weekly Crypto Price Analysis: BTC, ETH, BNB, ADA, XRP, And LTC

  TL;DR Breakdown Weekly crypto price analysis reveals major coins have been trading in mixed reaction for the past week. Bitcoin (BTC) has been trading below $27,000 for most of the days in the last seven days. Ethereum price analysis is still hovering above $1,800 levels for some days. Weekly crypto analysis reveals that Bitcoin and other major altcoins stopped their recovery near resistance levels, suggesting that the bears are still present at higher levels. The major coins have been trading in a mixed reaction. BTC has faced rejection near the $28,000 resistance level and it is currently correcting lower. BTC  is trading below the $27,000 level and it might continue to move lower in the near term. The next major support sits near the $25,400 level. Ethereum price has been trading in a range bound of $1,700 and $1,800 for the past few days. Cryptocurrencies price heat map: Coin 360 Binance Coin (BNB) has seen quite a sharp correction during the past week, as it dropped from over $316 to its current level of $308. Cardano (ADA) and XRP are…

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• Presidential candidate Ron DeSantis pledges to end ‘war on Bitcoin’ if elected president

  TL;DR Breakdown U.S. presidential candidate, Florida Governor Ron DeSantis, criticizes Biden’s administration for its “war” on Bitcoin. DeSantis promises to protect Bitcoin and crypto trading rights if elected President. He voices concerns about a potential Federal Reserve’s Central Bank Digital Currency (CBDC) threatening crypto decentralization. Description Florida Governor and presidential candidate Ron DeSantis has publicly criticized the Biden administration for its alleged hostility towards Bitcoin and other cryptocurrencies. During a campaign event in New Hampshire, DeSantis pledged to put an end to what he termed as “Biden’s war on Bitcoin and cryptocurrency” if he is elected as the next U.S. President. … Read more Florida Governor and presidential candidate Ron DeSantis has publicly criticized the Biden administration for its alleged hostility towards Bitcoin and other cryptocurrencies. During a campaign event in New Hampshire, DeSantis pledged to put an end to what he termed as “Biden’s war on Bitcoin and cryptocurrency” if he is elected as the next U.S. President. He emphasized that under his leadership, Americans would be allowed to invest freely in Bitcoin and other digital assets. The Republican…

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• Lido Finance reassures investors amid security flaw concerns in LDO token contract

  TL;DR Breakdown Lido Finance acknowledges a security flaw in its LDO token but assures tokens are secure. SlowMist identifies the flaw, which allows transactions without sufficient funds. Lido Finance argues the issue is common to all ERC-20 tokens. Description Ethereum staking protocol Lido Finance has publicly acknowledged a known security flaw in its LDO token contract. The announcement came in response to a September 10 post by blockchain security firm SlowMist, which highlighted the vulnerability that could potentially enable “fake deposit” attacks on cryptocurrency exchanges, Cryptopolitan reported.  Despite the concerns, Lido Finance reassured investors … Read more Ethereum staking protocol Lido Finance has publicly acknowledged a known security flaw in its LDO token contract. The announcement came in response to a September 10 post by blockchain security firm SlowMist, which highlighted the vulnerability that could potentially enable “fake deposit” attacks on cryptocurrency exchanges, Cryptopolitan reported.  Despite the concerns, Lido Finance reassured investors that both Lido DAO LDO and staked-Ether (stETH) tokens remain secure. Lido Finance counters SlowMist’s allegations SlowMist’s analysis revealed that the flaw in the LDO token contract allows…

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