TL;DR Breakdown The U.S. Department of Justice has changed its stance on campaign finance charges against FTX founder Sam Bankman-Fried. A new indictment with seven counts, including reinstated campaign finance charges, will be filed against Bankman-Fried. The DOJ argues that Bankman-Fried’s use of customer deposits for political campaigns aligns with wire fraud claims from the initial indictment. Description The U.S. Department of Justice (DOJ) has reversed its stance on the campaign finance charges against Sam Bankman-Fried, the founder of FTX. Just two weeks after citing treaty obligations as a hindrance to pursuing the charges, prosecutors now assert their intention to push forward with allegations of an “illegal campaign finance” scheme during Bankman-Fried’s impending … Read more The U.S. Department of Justice (DOJ) has reversed its stance on the campaign finance charges against Sam Bankman-Fried, the founder of FTX. Just two weeks after citing treaty obligations as a hindrance to pursuing the charges, prosecutors now assert their intention to push forward with allegations of an “illegal campaign finance” scheme during Bankman-Fried’s impending trial in October. A forthcoming indictment, slated to be…

TL;DR Breakdown Law enforcement authorities in India managed to apprehend the key figures responsible for orchestrating a multi-million dollar fraudulent venture that exploited the cryptocurrency space.  The extent of the deception is staggering, as reports suggest that this scheme managed to amass a staggering Rs 1,000 crore (equivalent to 10 billion rupees or approximately $120 million) from unsuspecting victims. Description The Indian Express reported a significant breakthrough in the ongoing battle against cryptocurrency-related Ponzi schemes in India on August 8th. Law enforcement authorities managed to apprehend the key figures responsible for orchestrating a multi-million dollar fraudulent venture that exploited the cryptocurrency space. The scam, centered around a cryptocurrency initiative named STA Crypto Token, claimed to … Read more The Indian Express reported a significant breakthrough in the ongoing battle against cryptocurrency-related Ponzi schemes in India on August 8th. Law enforcement authorities managed to apprehend the key figures responsible for orchestrating a multi-million dollar fraudulent venture that exploited the cryptocurrency space. The scam, centered around a cryptocurrency initiative named STA Crypto Token, claimed to combine cutting-edge solar technologies with the power…

TL;DR Breakdown Rollbit introduces Buy and Burn program, enhancing the RLB tokenomics strategy. The program uses daily revenues to acquire and burn RLB tokens from various platform segments. The goal is to reduce token supply, boost scarcity, and increase token value. Description Rollbit, the cryptocurrency gaming site, has unveiled a substantial enhancement to its tokenomics strategy, signaling a new phase for RLB tokens. In an announcement by Rollbit.com’s co-founder and active Twitter user, @Lucky_Rollbit, the platform introduced the innovative Buy and Burn program. This groundbreaking initiative is poised to redefine the dynamics of RLB tokens within the … Read more Rollbit, the cryptocurrency gaming site, has unveiled a substantial enhancement to its tokenomics strategy, signaling a new phase for RLB tokens. In an announcement by Rollbit.com’s co-founder and active Twitter user, @Lucky_Rollbit, the platform introduced the innovative Buy and Burn program. This groundbreaking initiative is poised to redefine the dynamics of RLB tokens within the crypto gaming space. Under this strategic move, Rollbit commits a specific portion of its daily revenues to acquiring and burning RLB tokens. Impressively, these earnings…

TL;DR Breakdown Former FTX Digital Markets co-CEO Ryan Salame discusses potential criminal charges tied to FTX’s bankruptcy with federal prosecutors. Salame had reportedly agreed in October to cooperate with authorities and testify against SBF. Documents reveal that Salame claimed FTX transferred customer funds to Alameda Research to cover financial losses. Description Ryan Salame, former co-CEO of FTX Digital Markets, is reportedly engaged in discussions with federal prosecutors concerning potential criminal charges linked to FTX’s bankruptcy. Citing individuals familiar with the matter, Bloomberg reported that Salame might soon confess to breaking campaign contribution regulations as part of a plea deal, possibly as early as next month. It’s … Read more Ryan Salame, former co-CEO of FTX Digital Markets, is reportedly engaged in discussions with federal prosecutors concerning potential criminal charges linked to FTX’s bankruptcy. Citing individuals familiar with the matter, Bloomberg reported that Salame might soon confess to breaking campaign contribution regulations as part of a plea deal, possibly as early as next month. It’s worth noting that he had allegedly agreed last October to cooperate with authorities and potentially testify…

TL;DR Breakdown Huobi Global and BitMart quickly announced support for the newly launched PYUSD stablecoin, with Huobi becoming the first to do so. Despite Paxos backing, the crypto community has concerns about the PYUSD stablecoin’s centralization and potential security flaws in its Solidity v0.4.24 construct. Description Huobi Global, a prominent player in the world of crypto exchanges, recently made headlines by announcing its support for the newly launched Paxos-issued PayPal USD (PYUSD) stablecoin. A day after the big reveal by PayPal and Paxos, Huobi became the first crypto exchange to declare its intention to list the PYUSD. A wave of mixed … Read more Huobi Global, a prominent player in the world of crypto exchanges, recently made headlines by announcing its support for the newly launched Paxos-issued PayPal USD (PYUSD) stablecoin. A day after the big reveal by PayPal and Paxos, Huobi became the first crypto exchange to declare its intention to list the PYUSD. A wave of mixed feelings surged through the crypto community, with many awaiting further announcements from other major businesses. Contents hide 1 Huobi Takes the…

TL;DR Breakdown MuesliSwap acknowledges oversight in the slippage feature, promising refunds to users affected by high slippage over the past year. Despite market challenges and a decrease in its total value locked (TVL), initiatives like a DEX aggregator are introduced to enhance user experience and regain trust. Description Cardano-based decentralized exchange platform, MuesliSwap, has stepped forward with an admission of oversight regarding its slippage functionality. With the platform’s reputation on the line, the team has taken decisive measures to make amends. In the rapidly evolving decentralized finance (DeFi) landscape, it’s vital for platforms to offer transparency and clarity to their users. Cardano’s fifth-largest … Read more Cardano-based decentralized exchange platform, MuesliSwap, has stepped forward with an admission of oversight regarding its slippage functionality. With the platform’s reputation on the line, the team has taken decisive measures to make amends. In the rapidly evolving decentralized finance (DeFi) landscape, it’s vital for platforms to offer transparency and clarity to their users. Cardano’s fifth-largest protocol, MuesliSwap, recently faced criticisms related to the high slippage rates that users have been experiencing over the past…

TL;DR Breakdown Cardano collaborates with the Africa Blockchain Center for an intensive two-month training in Kenya, focusing on Haskell programming, Marlowe and Plutus intelligent contracts, and more. This initiative is part of Cardano’s broader mission to foster blockchain innovation in Africa and establish itself as a leader in the move towards a decentralized Web 3.0 future. Description The African continent, known for its rich diversity and immense potential, is becoming a focal point for blockchain innovation. Leading this charge is Cardano, a blockchain platform famed for its high security and rapid transaction speeds, which is set to expand its innovative protocols to Kenya through its latest partnership. Contents hide 1 Training a … Read more The African continent, known for its rich diversity and immense potential, is becoming a focal point for blockchain innovation. Leading this charge is Cardano, a blockchain platform famed for its high security and rapid transaction speeds, which is set to expand its innovative protocols to Kenya through its latest partnership. Contents hide 1 Training a New Wave of Smart Contract Developers 2 Cardano’s Distinct Position…

TL;DR Breakdown Blockchain Capital X (Twitter) account was hacked and used to promote a token claim scam. Multiple messages were posted from Blockchain Capital’s account, offering a giveaway of tokens named “BCAP.” Description Scammers appear to have gained control of the X (Twitter) profile belonging to Blockchain Capital, a venture capital company focused on cryptocurrency, aiming to entice individuals with the opportunity to obtain tokens. Multiple messages were posted from Blockchain Capital’s account on August 9, offering a giveaway of tokens named “BCAP.” These posts directed users to … Read more Scammers appear to have gained control of the X (Twitter) profile belonging to Blockchain Capital, a venture capital company focused on cryptocurrency, aiming to entice individuals with the opportunity to obtain tokens. Multiple messages were posted from Blockchain Capital’s account on August 9, offering a giveaway of tokens named “BCAP.” These posts directed users to a counterfeit website designed to mimic the appearance of the actual Blockchain Capital firm’s site. Eventually, Blockchain Capital recovered control of their account and deleted the fraudulent posts. Blockchain Capital phishing attack  Blockchain Capital…

TL;DR Breakdown The Fed mandates state banks to get written approval for stablecoin activities. Move follows PayPal’s announcement to launch its own stablecoin. Previous corporate stablecoin attempts, like Meta’s Libra, faced regulatory resistance. Description If there’s one thing the world of finance knows, it’s that when the U.S. Federal Reserve takes a stance, you better pay attention. In a bold move, the Fed has just mandated that state banks under its jurisdiction will need an official written approval before delving into certain crypto activities, specifically involving dollar tokens. These … Read more If there’s one thing the world of finance knows, it’s that when the U.S. Federal Reserve takes a stance, you better pay attention. In a bold move, the Fed has just mandated that state banks under its jurisdiction will need an official written approval before delving into certain crypto activities, specifically involving dollar tokens. These tokens are essentially stablecoins, designed to offer some semblance of stability in the volatile cryptocurrency market by pegging their value to traditional assets like the U.S. dollar. The Fed’s tightening grip on cryptocurrencies…

TL;DR Breakdown McCarthy demands Biden’s bank statements amid impeachment inquiry preparations. The inquiry could empower Congress to obtain resisted information and lead to impeachment articles. The inquiry’s start could be delayed to October, pushing a final impeachment vote to January. Description House Speaker Kevin McCarthy has called on President Biden to release his bank statements to dispel allegations of benefiting from his family’s foreign business dealings. This demand comes as Republicans prepare to launch an impeachment inquiry as early as next month. McCarthy asserts that sufficient evidence suggests that the Biden family needs to demonstrate that … Read more House Speaker Kevin McCarthy has called on President Biden to release his bank statements to dispel allegations of benefiting from his family’s foreign business dealings. This demand comes as Republicans prepare to launch an impeachment inquiry as early as next month. McCarthy asserts that sufficient evidence suggests that the Biden family needs to demonstrate that there was no pay-to-play scheme involved in their foreign business transactions. The call for transparency is rooted in a controversial WhatsApp message dated July 30, 2017,…