• Binance has launched a joint anti-scam campaign with law enforcement agencies around the world.
• The exchange carried out an initial pilot phase of the program in Hong Kong in collaboration with the local police force.
• The exchange will continue to cooperate with law enforcement agencies and provide necessary resources and training needed to help prevent crypto-based crimes and scams.

Binance Launches Anti-Scam Campaign

Binance has announced a joint anti-scam campaign with law enforcement agencies around the world. The goal of this project is to protect users from financial scams in the crypto space, which can arise from social engineering tactics used by scammers. The exchange conducted an initial pilot phase of the program in Hong Kong in collaboration with the local police force.

Initial Pilot Phase

In order to tackle potential scams, Binance leveraged law enforcement resources to supplement a warning message that goes out to users before they withdraw funds or conduct transactions. This message warns them of potential scams and offers resources for identifying and reporting scammers. After one month since its launch, it was found that roughly 20% of users either reconsidered transactions after seeing this message or chose to review further before conducting them.

Future Plans

Binance plans on rolling out this program to more jurisdictions in the coming months by establishing partnerships with local police and government agencies for necessary resources. Furthermore, they are planning on providing support and training needed to effectively combat crypto-based crimes and scams. Lastly, they have also set up a portal where law enforcement agencies can submit case requests if needed.

Seminars and Conferences

In addition, Binance contributed towards seminars and conferences conducted by Hong Kong Police Force related to cybercrime prevention as well as raising awareness about these methods so people can avoid them effectively going forward.

Conclusion

Overall, this initiative taken by Binance is very important for creating awareness among users about methods used by scammers so that they don’t end up losing their assets due to naivety or lack of knowledge about such tactics being employed online nowadays

• Court Ruling Against DapperLabs: A U.S. court ruled that using emojis relating to rocket ships, stock charts, and money bags could be classified as investment advice.
• Warning from Former SEC Branch Chief: Former SEC branch chief Lisa Braganca warned the public against using certain emojis in promotional materials following the ruling.
• Lawsuit Filed Against Dapper Labs: The lawsuit was filed against Dapper Labs and its CEO Roham Gharegozlou for allegedly violating securities laws by offering its NBA Top Shot Moments.

Ruling Against Emojis Used in Promotion Materials

A U.S. court ruled that using emojis relating to rocket ships, stock charts, and money bags could be classified as investment advice. This ruling was contained in a lawsuit filed against Dapper Labs and its CEO Roham Gharegozlou for allegedly violating securities laws by offering its NBA Top Shot Moments. Following the ruling, former SEC branch chief Lisa Braganca warned the public against using certain emojis in promotional materials.

NBA Top Shot Moments

NBA Top Shot Moments are non-fungible tokens (NFT) that capture key highlights and video clips from NBA games. The plaintiffs accused Dapper Labs of promoting NBA Shot Moments as investment opportunities, through its marketing materials with carefully selected emojis. The court filing referenced a tweet in which DapperLabs used the rocket ship, stock market, and money bags emoji to show market performance.

DapperLabs‘ Defense

Dapper Labs has argued that they were not attempting to promote sales but rather provide accuracy to market data with their use of emojis in their tweets. However this argument has been met with some criticism by members of the crypto community who argue that such a rule on emoji usage would impede freedom of speech as different people can interpret them differently.

Implications of Court Ruling

This recent court ruling serves as an important reminder for those involved in cryptocurrency projects or companies who are preparing promotional material for their services or products; it is important to ensure that all copy is thoroughly vetted so as not to cross any legal lines and risk potential liability under securities law regulations .

Conclusion

The recent court ruling on the use of certain emoji symbols being considered investment advice serves as an important reminder of how even seemingly small details can have significant implications when it comes to compliance issues involving financial markets and investments . It is important for companies involved in cryptocurrency projects or businesses to take extra precaution when drafting promotional material or advertising campaigns related to their services or products so as not run afoul of any applicable securities regulations .

• Circle Recommends Central Bank of Ireland Adopt Public Blockchains for Consumer Protection: USDC issuer Circle has submitted a response to the Central Bank of Ireland highlighting the benefits of blockchain-based financial services for consumers.
• Benefits Of Blockchain Technology For Consumer Protection: Circle listed a series of benefits of blockchain technology in relation to consumer protection, including increased competition, disaggregation of financial services, privacy protection, improved financial literacy through transparency and the ability for regulators to track on-chain data.
• Recommendations On How Financial Supervisors Can Support Innovation While Ensuring Consumers‘ Best Interests: Circle recommended how financial supervisors can support innovation while protecting consumers‘ best interests including informing consumers about market abuse/anomalies by tracking and analyzing real-time blockchain transaction data.

Overview

USDC issuer Circle has submitted a response to the Central Bank of Ireland highlighting the benefits of blockchain-based financial services for consumers. The stablecoin provider listed a series of benefits of blockchain technology in relation to consumer protection. It also offered recommendations on how financial supervisors can support innovation while ensuring consumers‘ best interests.

Benefits Of Blockchain Technology For Consumer Protection

Circle listed a series of benefits that public blockchains offer in relation to consumer protection. These include increased competition, disaggregation of financial services, privacy protection, improved financial literacy through transparency and the ability for regulators to track on-chain data. This would allow them to inform consumers about market abuse/anomalies by tracking and analyzing real-time blockchain transaction data.

Recommendations On How Financial Supervisors Can Support Innovation While Ensuring Consumers‘ Best Interests

Circle recommended that firms offering novel financial products should engage with supervisory authorities before making an official application. Additionally it suggested that regulatory bodies should actively seek out opportunities from innovative companies who are looking to create new types of products or services that will benefit customers. They should also take steps towards educating customers about such products and services so that they are better informed when making decisions about their finances.

Conclusion

Blockchain technology offers numerous potential advantages when it comes to improving consumer protection within the realm of finance. Companies offering novel products should engage with supervisory authorities before submitting an official application so as not disrupt existing regulations or harm customers in any way. Regulators should actively seek out opportunities from innovative companies but also take steps towards educating customers so they can make informed decisions regarding their finances.

References

[1] https://www.cryptoslate

Summary of PayPal Puts its Stablecoin Project on Hold

• PayPal has paused work on a potential upcoming stablecoin, according to Bloomberg News.
• The delay may be due to changes in the regulatory landscape or potential investigations by the New York Department of Financial Services.
• Despite the delay, PayPal has made various crypto features available and holds $604 million worth of customer crypto.

>PayPal’s Stablecoin Project

Payments giant PayPal has paused work on a potential upcoming stablecoin, Bloomberg News reported on Feb. 10.A representative of the company told Bloomberg:“We are exploring a stablecoin…If and when we seek to move forward, we will, of course, work closely with relevant regulators.“Though PayPal never officially announced that project, code for a USD-backed „PayPal Coin“ was discovered in the company’s application code more than a year ago. That code was shared with Bloomberg, who first reported the development in January 2022.

>Delay in Launch

PayPal hopes to introduce the stablecoin in the coming weeks, according to Bloomberg — although no launch timeline has been officially announced.Bloomberg implied that regulatory difficulties might be behind the delay. Stablecoin issuer and brokerage Paxos, which provides PayPal’s crypto features, was supposedly working on the asset. However, rumors have emerged that Paxos faces a probe from the New York Department of Financial Services (NYDFS). This may have shifted the firm’s focus.New restrictions on staking and interest-bearing services — though not necessarily a feature of PayPal’s stablecoin — may also be encouraging caution.

>Crypto Features Introduced by PayPal

Despite delays on its stablecoin, PayPal has introduced various crypto features. In October 2020, it began to allow users to invest in Bitcoin, Ethereum, and other coins solely through its own platform. The company expanded trading capabilities and raised limits, and starting in mid-2022

• ETH passes $1,700 for first time since September: Ethereum briefly surpassed $1,700 on February 2, soaring more than $500 since the start of the year.
• Analysts say local top may be in play: Supply of ETH on exchanges have fallen to their lowest levels since June 2018. A chart published by the market intelligence platform Santiment identified several key points that suggest a local top may be in.
• Key metrics suggest local top forming into the weekend: Major ETH profit taking hit its highest level since February 2021, while ETH supply on exchanges fell to below 11.25%, their lowest level since June 2018.

ETH Passes $1,700 for First Time Since September

Ethereum briefly surpassed $1,700 on February 2, soaring more than $500 since the start of the year. This marks a significant milestone as it is the first time ETH has passed this price point since September 2020.

Analysts Say Local Top May Be In Play

The surge in price has caught analysts‘ attention and they believe it might be short-lived. Supply of ETH on exchanges have fallen to their lowest levels since June 2018 according to a chart published by the market intelligence platform Santiment which identified several key points that suggest a local top may be in.

Key Metrics Suggest Local Top Forming Into The Weekend

The chart showed that major ETH profit taking hit its highest level since February 2021 coinciding with when ETH supply on exchanges fell to below 11.25%, their lowest level since June 2018. This may point to a potential local top forming into the weekend with Ethereum currently stable at around $1,640.

Dorian Batycka: Contributor at CryptoSlate

• Ric Burton, Balance CEO, alleges betrayal from Uniswap founder Hayden Adams over unpaid debts.
• Burton had invested time, money and friendship in helping Adams to get Uniswap off the ground.
• Adams raised over $1m for the project but Burton believes he was not repaid as promised.

The Beginning of a Friendship

In Spring 2018 Ric Burton, Balance CEO, began searching for dApp developers. He held events and provided studio space to promising developers. One of these was Hayden Adams and his idea for an AMM DEX platform – Uniswap. Burton quickly became close with Adams, supporting each other through their respective struggles to make it in the crypto world. To help him out when funds were running low, Burton even paid rent on behalf of Adams.

Uniswap Takes Off

Realizing the potential of the protocol, Uniswap attracted attention from Ethereum Foundation and crypto investment firm Paradigm. With their support the future looked bright for the project. However this is where things take a turn for the worse between Burton and Adams as promises made were not kept by both parties.

Adams Goes AWOL

Adams told Burton he intended to include him in the Uniswap round as repayment for his help but this did not happen after March 2019 when personal difficulties hit Burton including losing his grandmother and leaving Balance due to conflicts with co-founder. In that same month it was reported that Uniswap had raised over $1m yet there was still no repayments made to Burton as promised by Adams leading up to that point.

Legal Action Against Adams

This led to legal action taken against Adams by Ric Burton who claims „heartbroken“ and „sad“ of how little respect he has been shown despite investing so much into supporting Uniswaps development early on while also providing emotional support during difficult times they both faced in their entrepreneurial endeavors together.

Conclusion This story serves as a warning about investing your trust into people or business partnerships without clear written contracts being established first before any forms of assistance are given out in good faith that can lead to disappointments later down the line if those agreements are broken or ignored altogether especially in highly competitive industries such as cryptocurrencies where there’s always plenty of opportunities available at all times making it easier than ever before now more than ever before today more than yesterday yesterday more than tomorrow tomorrow more than never never less than always!

Stablecoin Withdrawals Reach $800M on Jan. 30

• On Jan. 30, nearly $230 million of Bitcoin was sent to exchange addresses
• In addition, roughly $800 million of stablecoins were withdrawn from exchanges
• Almost half of this amount ($300 million) was BUSD being withdrawn from exchanges

Bitcoin Inflows

On Jan. 30, 10,000 BTC was sent to exchange addresses, equivalent to around $230 million – the fifth largest inflow in three months. This influx of funds is indicative of the growing demand for cryptocurrencies and bullish sentiment in the market.

Stablecoin Outflows

In addition to this Bitcoin influx, a significant amount of money left exchanges as well – roughly $800 million worth of stablecoins were withdrawn on the same day. Nearly half of this sum ($300 million) was BUSD being taken out. The total balance for stablecoins held on exchanges now sits at approximately $35.6 billion.

Data Overview

To provide an overview of the data: roughly 10,000 BTC was sent to exchange addresses on Jan. 30 (the fifth biggest inflow in three months), while nearly $800 million worth of stablecoins left exchanges with almost half ($300 million) being BUSD withdrawals. As a result, the current balance for stablecoins held on exchanges is sitting at around $35.6 billion.

Conclusion

The cryptocurrency market is continuing to show signs of strength and growth despite potential volatility in the short-term future as more investors enter and move funds into cryptoassets like Bitcoin and Ethereum; however it should be noted that trading digital assets involves risk and investors should do their own due diligence before making any investments or decisions related to cryptocurrencies or other digital assets

-Hackers compromised the official Twitter account of the bluechip NFT project Azuki on Jan. 27.
-The hackers posted two tweets with malicious links, promoting a fake virtual land mint.
-Several blockchain security firms, crypto wallets, and Robinhood’s social media accounts were all used to promote unassociated crypto tokens.

Hackers managed to breach the official Twitter account of the bluechip NFT project Azuki on Jan. 27th. The hackers posted two tweets with malicious links, promoting a fake virtual land mint, in an attempt to gain access to cryptocurrency from unsuspecting users. Several blockchain security firms, including Wallet Guard and MetaMask, as well as crypto wallets like Phantom Wallet, blocked their users‘ access to the phishing link.

The malicious players also took advantage of Robinhood’s social media accounts to promote an unassociated crypto token. Robinhood confirmed that its several accounts were used for the scam. Furthermore, Moonbirds founder Kevin Rose was also a victim of the attack, as hackers were able to drain his wallet of NFTs worth millions.

Azuki’s head of community, Dem, revealed the news of the breach and urged the community not to click any links. As of press time, a community manager Rose revealed that there was still a fake website present on Azuki’s Twitter bio. According to Etherscan data, one of the wallets connected to the hacker held 214 ETH ($343,000) as of press time.

The attack on Azuki’s Twitter account serves as a reminder that malicious players are always looking for new ways to exploit users. It is important to be aware of any suspicious activity and to take the necessary steps to protect yourself from scammers. Blockchain security firms and crypto wallets have implemented measures to protect users from these attacks, but it is ultimately up to the individual to stay alert and be vigilant.

• Investors betting against Bitcoin grew to some of the highest levels on record as markets welcomed the new year.
• A purchase of roughly $200 million in Bitcoin on spot trading markets was enough to force massive short liquidations due to dwindling volume.
• Long liquidations dominance rose to the highest levels in over two years as those betting against Bitcoin lost out.

As the new year began, investors betting against Bitcoin reached some of the highest levels on record. Bears seemed to be in control of the price action and Bitcoin teetered around $16,000. However, analysis from CryptoSlate revealed that those shorting Bitcoin were not as powerful as first thought.

A purchase of roughly $200 million in Bitcoin on spot trading markets was enough to cause mass liquidations of short positions due to the dwindling volume. In addition, large trades executed on major exchanges moved the needle just enough to create a brief short squeeze that took Bitcoin from $16,800 to over $21,000.

The below chart shows the futures long liquidations dominance (i.e., long liquidations / (long liquidations + short liquidations)). The 50% mark in the middle of the chart represents an equal amount of long and short liquidations. Values above 50% indicate more longs liquidated, and values below 50% indicate more shorts being liquidated.

Long Liquidations Dominance: (Source: Glassnode)

The liquidation became dominated by failing short positions that were ‚wrecked‘ by Bitcoin’s price increase. Over two years, the dominance rose to the highest level as those betting against Bitcoin lost out. The situation was so dire that many investors in the Bitcoin market had to accept their losses and move on.

The effect of the short squeeze had a significant impact on the Bitcoin market. The sudden surge in price caused buyers to flock to the markets, which in turn caused the price to skyrocket. This event was a reminder to investors that Bitcoin is a volatile asset and that betting against it can have disastrous consequences.

In conclusion, the Bitcoin market was able to demonstrate its resilience in the face of a bearish onslaught. As investors continue to bet against Bitcoin, it is important to remember that the markets can change quickly and those betting against the cryptocurrency could be in for a rude awakening.

• A Swiss judge has approved an audit to investigate a $715 million transaction conducted by Ethereum development firm ConsenSys.
• The audit was requested by shareholders, who claim the transaction was done without their knowledge or approval.
• The shareholders initiating the procedure are a group of 35 employees who make up more than 50% of shareholders.

The Ethereum development firm ConsenSys is facing an audit after a Swiss judge approved a request from its shareholders. The audit will investigate a $715 million transaction called „Project Northstar“ which was conducted between the firm’s Switzerland- and US-based corporations.

The shareholders initiating the procedure are a group of 35 employees who make up more than 50% of the firm’s total shareholders. They allege that the transaction was made in a „clandestine fashion“ and that ConsenSys ignored requests for clarity and illegally suspended shareholder meetings. Ultimately, they claim to have only found out about the transaction through public media coverage.

The request for an audit was filed in March of 2022 and approved by the judge in December. The shareholders argue that the transaction was authorized by ConsenSys CEO Joseph Lubin, who was the sole remaining member of the firm’s board of directors at the time.

The audit is intended to investigate the validity of the transaction and give shareholders a better understanding of the situation. If it is found that the transaction was conducted improperly, then the results of the audit could have a significant impact on the future of ConsenSys and the Ethereum industry as a whole. It will be interesting to see what the audit reveals and how it will affect the company moving forward.