Best Twitter threads of the day – August 15th

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• Ukraine requests financial information from cryptocurrency firms

  TL;DR Breakdown Ukraine has instructed crypto firms to provide financial information for the first and second quarters of 2023. Crypto firms shift focus as regulatory pressure mounts. Description The cryptocurrency industry in Ukraine is facing increased scrutiny as the National Bank of Ukraine (NBU) recently demanded four local crypto firms provide financial statements for the first two quarters of 2023. The affected companies include Kuna, CoinPay, GEO Pay, and Qmall. The NBU has given these firms a deadline of seven days to submit … Read more The cryptocurrency industry in Ukraine is facing increased scrutiny as the National Bank of Ukraine (NBU) recently demanded four local crypto firms provide financial statements for the first two quarters of 2023. The affected companies include Kuna, CoinPay, GEO Pay, and Qmall. The NBU has given these firms a deadline of seven days to submit the requested financial data. Ukraine announces one-week ultimatum for compliance Michael Chobanyan, founder, and CEO of Kuna exchange, revealed this development on July 3, referring to a document distributed by the Ukrainian Telegram news channel “Politics of the country.”…

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• FCA takes down illegal crypto ATMs in the UK, issues strong warning

  TL;DR Breakdown FCA disrupts the majority of crypto ATMs and warns users of criminal involvement. Crypto ATM users lack protection, and FCA urges compliance and vigilance. A recent case highlights the risks of crypto scams and impersonation tactics. Description The Financial Conduct Authority (FCA), the renowned financial watchdog in the United Kingdom, announced the disruption of 26 out of 34 cryptocurrency ATMs it inspected. Firmly addressing the UK crypto ATM operators on February 14, the FCA issued a stern warning, clarifying that compliance with legislation or facing closure of illicit activities was the only … Read more The Financial Conduct Authority (FCA), the renowned financial watchdog in the United Kingdom, announced the disruption of 26 out of 34 cryptocurrency ATMs it inspected. Firmly addressing the UK crypto ATM operators on February 14, the FCA issued a stern warning, clarifying that compliance with legislation or facing closure of illicit activities was the only way forward. Responding promptly, the FCA, in collaboration with other law enforcement authorities, launched 36 investigations into cryptocurrency ATMs, exercising their authority under anti-money laundering laws. #Crypto ATMs…

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• Arbitrum price analysis: Price elevates up to $1.24 after bullish momentum checks back

  TL;DR Breakdown The price has returned to the $1.24 level. Arbitrum price analysis predicts a bullish comeback. Support is still steady at $1.17. The latest Arbitrum price analysis is showing signs of a bullish recovery as the price has rejoined its former level today. The price had been consistently improving in the last week as a strong uptrend was following the market. The bulls were maintaining control quite efficiently until yesterday’s correction. The bulls were in the lead till the start of the previous trading session, but then selling pressure appeared and the trend changed in the second half, but it is recovering again today, as the price has regained momentum. The price is now at $1.24 as the bullish momentum has been successfully restored back. ARB/USD 1-day price chart: Chances of improvement resurface as the price relinks to $1.24 The one-day Arbitrum price analysis is dictating a rise in price as the bullish candlestick has returned to the price chart. The cryptocurrency faced selling pressure yesterday as the price underwent a small decline. But today, the bulls are trying…

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• What exactly does the SEC claim CZ did with BinanceUS?

  TL;DR Breakdown The U.S. SEC has proposed a freezing order on $2.2 billion of U.S. customer assets held by BinanceUS, citing potential misappropriation risks by founder Changpeng Zhao. The SEC alleges that BinanceUS and Zhao engaged in unregistered securities sales and commingled investor funds with their own. With over $2.2 billion of U.S. customer assets under scrutiny, BinanceUS and its founder, Changpeng Zhao, face allegations by federal regulators who believe these funds are under “significant risk” of misappropriation. The U.S. Securities and Exchange Commission (SEC) voiced its concerns and accusations in a recent legal filing, stating that immediate action must be taken to prevent possible illicit activities by Zhao and associated entities. The security freeze proposal: Federal regulators’ preventive approach This concern has motivated the SEC to propose a freezing order on the substantial assets under BinanceUS’s control. The regulator’s legal representatives have advocated for this action as a preemptive measure to mitigate potential capital flight risks. They’re calling for a swift judgment that allows U.S. customer assets to be repatriated and frozen, thus averting unauthorized transfers by Zhao or…

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• Logan Paul’s CryptoZoo is yet to refund investors

  TL;DR Breakdown Logan Paul’s CryptoZoo is yet to refund investors despite his announcement in January. Investors are frustrated with the lack of communication and transparency. Description Investors of Logan Paul’s NFT gaming project, CryptoZoo, are reportedly still awaiting details regarding the promised refund of 1000 Ethereum (equivalent to $1.93 million at current prices). Despite Paul’s initial announcement in January, communication with the CryptoZoo community has dwindled, leaving investors frustrated. Concerns were raised by “internet detective” Coffezilla, who initially exposed the project’s … Read more Investors of Logan Paul’s NFT gaming project, CryptoZoo, are reportedly still awaiting details regarding the promised refund of 1000 Ethereum (equivalent to $1.93 million at current prices). Despite Paul’s initial announcement in January, communication with the CryptoZoo community has dwindled, leaving investors frustrated. Concerns were raised by “internet detective” Coffezilla, who initially exposed the project’s issues in December 2022. In a recent YouTube video, Coffezilla revealed that Paul has not paid back the victims, nor has he provided a clear plan for the refunds. This lack of progress has led to growing skepticism among investors. Logan…

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