US Federal Probe into Binance Heats Up, Could Impact Crypto Industry

• U.S. authorities have sent subpoenas to American hedge funds and market-making companies dealing with Binance, the world’s largest cryptocurrency exchange.
• The subpoenas are part of a larger investigation into the potential violations of money-laundering laws by the world’s largest crypto exchange.
• The federal probe into Binance has come to light at a time when the crypto industry is struggling with an unfriendly stance from regulators around the globe.

U.S. federal prosecutors are currently investigating one of the world’s largest cryptocurrency exchanges, Binance. Subpoenas have been sent to American hedge funds and market-making companies dealing with the crypto exchange, asking for records of their communications with the platform. This is part of a larger investigation into the potential violations of money-laundering laws by the world’s largest crypto exchange, which was first reported by Bloomberg in June last year.

The U.S. attorney’s office for the Western District of Washington in Seattle is leading the investigation, and the SEC is also examining whether Binance’s initial coin offering of its BNB token back in 2017 was an unregistered security offering. Binance’s chief strategy officer Patrick Hillmann has reportedly said that the exchange is talking to „virtually every regulator across the globe on a daily basis.“

While the subpoenas do not necessarily mean authorities are likely to bring charges against the exchange, legal experts have said that prosecutors are still discussing a possible settlement with Binance and weighing whether they have enough evidence to bring indictments against the company. The federal probe into Binance has come at a time when the crypto industry is struggling with an unfriendly stance from regulators around the globe. The recent implosion of FTX, once the third-largest crypto exchange in the world, has further exacerbated concerns around unregulated online marketplaces where digital assets are bought and sold.

Binance’s probe could have far-reaching implications for the crypto industry. If the U.S. government is able to prove that the exchange has violated money-laundering laws, it could set a precedent for other exchanges and could lead to stricter regulations on the crypto industry. It could also put a damper on the growth of the industry if the exchange is found to be guilty, as it is one of the most popular exchanges in the world.

At the same time, the investigation could also lead to more transparency in the crypto industry, as exchanges like Binance would be forced to comply with all applicable laws and regulations. This could help to alleviate some of the fears surrounding the use of cryptocurrencies, as investors would be more reassured that their investments are secure and their funds are safe.

Regardless of the outcome of the investigation, it is clear that the crypto industry is currently facing increased scrutiny from authorities. It remains to be seen how this investigation will affect the future of the industry, but it is sure to be an interesting development to watch out for.

Play Games, Earn TAMA: Tamadoge Games Arcade Launch Sparks Crypto Frenzy

• Tamadoge Games Arcade Beta has been released, introducing 3 games with 2 more to follow.
• The platform marries Tamagotchi-like fun with blockchain tech in an enjoyable and rewarding way.
• Crypto watchers predict the Tamadoge price could surpass its all-time high of $0.173.

The crypto community is buzzing with excitement over the launch of the Tamadoge Games Arcade Beta. This play-to-earn metaverse games platform marries the fun of Tamagotchi-like games with the security and rewards of blockchain technology. In the first 15 hours, beta testers have already racked up more than 150 hours of gameplay, with 6,000 retries, proving that the games are highly addictive.

The Tamadoge Arcade currently offers three games: To the Moon, Rocket Doge and Super Doge. Two more games will be added soon. The most popular game so far is Super Doge, with players enjoying its great graphics and cool retro soundtrack. Community response has been overwhelmingly positive, with many expressing their love for the game and its ability to bring back childhood memories.

The launch of the Tamadoge Games Arcade has set the crypto community on fire, and crypto watchers are predicting that the Tamadoge price could surpass its all-time high of $0.173. In October last year, Tamadoge became one of the top three meme coins with daily trading volumes of over $57 million.

The launch of the Tamadoge Arcade is just the beginning of a new era in the meme coin space – one that offers real utility and value to its users. With Tamadoge, users can now earn rewards for playing games, creating a positive feedback loop that will only increase demand for the TAMA token. With further product development and real-world adoption, Tamadoge could be the next 100x crypto success story.

Russian Crypto Sector Booming Despite International Sanctions

• International sanctions are driving crypto adoption in Russia.
• Russian lawmakers are attempting to pass legislation that would legalize crypto mining in the country.
• The Central Bank has repeatedly called for a ban on crypto, but pro-industry forces in the government remain opposed.

International sanctions have caused a surge in crypto adoption in Russia, according to Yuri Myshinsky, Chairman of the Board of the Digital Transformation Association. Myshinsky believes the sanctions will spur further adoption of cryptocurrencies in Russia.

Historically, Russia’s relationship with cryptos has been somewhat contradictory. The government has made various statements about the status of cryptocurrencies in the country, ranging from an outright ban to a willingness to embrace the technology. Now, Russian lawmakers are pushing a draft law that would legalize crypto mining in the country. This law would require industrial miners to pay taxes on their earnings.

The draft law has been met with enthusiasm from domestic energy producers, who are keen to set up data centers to mine crypto using associated gas at oil drilling sites. The Ministry of Finance is eager to use the law to provide Moscow with a revenue boost by legalizing crypto mining. However, the Central Bank wants to make sure that tokens mined during these operations are exchanged, and do not “enter the Russian economy.” The Bank has called for a ban on crypto, but pro-industry forces in the government remain opposed.

Myshinsky believes that this opposition could lead to further growth in the sector in Russia. He believes that the government is willing to embrace the advantages of cryptocurrencies, while imposing regulations on the industry. This could be good news for crypto investors and miners in Russia.

Time will tell how successful the government’s efforts will be in creating crypto-related legislation. But, for now, the outlook appears positive for the crypto sector in Russia. With international sanctions continuing to drive crypto adoption in the country, the next few years could be a very interesting time for the Russian crypto industry.

BNB Price Set for Uptrend as BMW & BNB Chain Partner Up

• Binance Coin (BNB) has seen a slight recovery after a downturn, and is currently trading at $244.
• BMW and BNB Chain recently partnered to create a blockchain loyalty program, which will incentivize BMW Group customers.
• The BNB price is approaching a break out from a symmetrical triangle pattern, which could indicate the beginning of a sustained uptrend.

The cryptocurrency market has been in a state of flux over the past few weeks, with Binance Coin (BNB) being no exception. The native token of the popular cryptocurrency exchange has seen a downturn in price, though it has since recovered slightly and is currently trading at $244. This could be attributed to the recent partnership between BMW, one of the leading German car manufacturers, and BNB Chain and Coinweb. The collaboration seeks to add blockchain into BMW’s daily operations and create a loyalty program for customers.

The partnership between BMW and BNB Chain will be split into two phases. In the first phase, BMW will integrate decentralized tech into the company’s daily operations in order to eliminate the tedious paperwork. In the second phase, BMW will develop and operationalize a loyalty program in collaboration with Coinweb. The loyalty program will group customers in tiers, depending on their account status. Rewards will then be distributed based on customer actions over time, and customers will be able to use the rewards to pay for goods and services offered by the company. All transactions will be settled through the BNB Chain.

The news of the partnership has been well received by investors, who are hopeful that it will lead to further gains for BNB. As a result, the BNB price is approaching a break out from a symmetrical triangle pattern, which could indicate the beginning of a sustained uptrend. A green candle on the four-hour chart may indicate a potential 7.35% breakout from the triangle pattern.

Therefore, while the downturn in the BNB price has been concerning, the recent collaboration between BMW and BNB Chain may be the catalyst needed to propel the token to the moon. With the BNB price now approaching a break out from the triangle pattern, investors will be watching closely to see if it can break through the 50-day Exponential Moving Average at $245.8 and reach higher highs.

China Launches State-Backed ‚Non-Fungible Token‘ Marketplace

• The Chinese government has announced plans to launch a state-backed “non-fungible token (NFT)” marketplace.
• Beijing won’t be using blockchain to power its platform, and it wants to do away with crypto as the marketplace’s currency, in favor of fiat.
• Chinese firms have been encouraged to label their products as “digital collectibles”, rather than NFTs, and limitations have been placed on secondary market trading in a bid to reduce “speculation” on NFT prices.

The Chinese government has recently announced plans to launch its own version of a state-backed ’non-fungible token (NFT)‘ marketplace. This comes in response to a ruling from the Hangzhou Internet Court last month which stated that virtual items such as NFTs can be legally recognized as property. The China Digital Asset Trading Platform, as the marketplace is being called, is set to go live on January 1st and will be an official secondary market for digital assets that comply with national regulations.

However, the Chinese government is not using blockchain to power its platform and instead is looking to fiat as the marketplace’s currency in order to sideline all crypto assets. In order to reduce ’speculation‘ on NFT prices, Chinese firms have been encouraged to label their products as ‚digital collectibles‘ rather than NFTs, and limitations have been placed on secondary market trading.

In other parts of the world, blockchain networks are used to mint NFTs and they can be traded for tokens such as Ethereum (ETH). But the Chinese government is aiming to cherry-pick technological advances associated with crypto and the blockchain space – mainly private blockchain networks and NFTs.

The platform will be similar to other NFT trading platforms, with buyers and sellers able to trade digital assets with each other. Additionally, the platform will have a range of services such as asset storage, asset security, and asset transfer.

The Chinese government’s move to launch its own version of an NFT marketplace is a step towards regulating the sector. It remains to be seen if the platform will be successful, but it could pave the way for more state-backed NFT marketplaces in the future.

Shark Tank Star’s Account Hacked for Crypto Giveaway Scam

• Shark Tank star Kevin O’Leary’s Twitter account was hacked on Thursday and used to promote a crypto giveaway scam.
• The tweet provided a link that instructed respondents to first send their own digital assets to verify their wallet addresses, to receive the giveaway prizes.
• Crypto giveaway scams are one of the most prevalent forms of scams in the industry, often impersonating well-known figures like Elon Musk, Michael Saylor, and CZ.

On Thursday, December 29, 2022, Shark Tank star Kevin O’Leary’s Twitter account was hacked and used to promote a crypto giveaway scam. The now-deleted tweet claimed that everyone who wanted to get free crypto now had a chance, and provided a link that instructed respondents to first send their own digital assets to verify their wallet addresses, to receive the giveaway prizes. The fraudsters falsely claimed that Mr. Wonderful had said on CNBC that he planned to give away some cryptocurrencies.

Crypto giveaway scams are one of the most prevalent forms of scams in the industry, often impersonating well-known figures like Elon Musk, Michael Saylor, and CZ in order to promote their fraudulent schemes using fake accounts. These scams involve hacked accounts of famous people, politicians, celebrities, and companies with the aim of having people send their digital assets to verify their wallet addresses, with no intention of actually sending out any giveaway prizes.

These scams have become increasingly common, as hackers have become more sophisticated and have targeted high-profile accounts with large followings in order to increase the reach of their fraudulent schemes. As such, it is important to be aware of the potential risks associated with crypto giveaway scams and to make sure to not engage with any suspicious activity that may be happening on social media. It is also essential to double-check the authenticity of any giveaway offers before providing any personal or financial information.

MicroStrategy Invests $42.8M in Bitcoin, Betting on Its Long-Term Prospects

• Michael Saylor, the founder and former CEO of software firm MicroStrategy, recently invested $42.8 million in bitcoin (BTC).
• The investment was made through a purchase of 2,395 bitcoins at an average price of $17,871 per bitcoin, inclusive of fees and expenses.
• MicroStrategy also sold 704 bitcoins for cash proceeds of $11.8 million, at an average price of $16,776 per bitcoin, net of fees and expenses.

Michael Saylor, the founder and former CEO of software firm MicroStrategy, continues to demonstrate a bullish approach to bitcoin (BTC) with his latest investment of about $42.8 million in the top crypto. This investment follows previous large purchases of the digital asset, made public in August and December of last year.

In a recent filing with the Securities and Exchange Commission (SEC), the business disclosed a purchase of about 2,395 bitcoins made with cash, at an average price of some $17,871 per bitcoin, inclusive of fees and expenses. This purchase was made to add to MicroStrategy’s already substantial bitcoin holdings, which now stand at around 132,500 bitcoins.

The firm has also sold some of its crypto assets over the past week with the aim to optimize its taxes, as indicated by the filing. On December 22, 2022, MacroStrategy sold approximately 704 bitcoins for cash proceeds of approximately $11.8 million, at an average price of approximately $16,776 per bitcoin, net of fees and expenses. The firm plans to carry back the capital losses resulting from the sale against previous capital gains, to the extent allowed under the current federal income tax laws.

On December 24, 2022, MicroStrategy acquired approximately 810 bitcoins for approximately $13.6 million in cash, at an average price of approximately $16,845 per bitcoin, inclusive of fees and expenses. This purchase was made to increase the firm’s bitcoin holdings and bring the total amount of bitcoin purchased by MicroStrategy this month to 2,500 bitcoins.

The firm has been outspoken about its belief in the potential of bitcoin, with Saylor himself delivering a keynote speech at the Bitcoin 2022 conference in Miami in December. In the speech, he highlighted the potential of bitcoin to become the primary store of value in the world, as well as its ability to act as a hedge against inflation.

MicroStrategy’s investment in Bitcoin is part of a wider trend of institutional investors entering the market, with many large companies announcing similar purchases in recent months. These include Square, which purchased $50 million worth of bitcoin in October, and MassMutual, which purchased $100 million worth of the digital asset in December.

It remains to be seen whether MicroStrategy’s bullish approach will pay off, but the firm’s continued commitment to the asset suggests that they are confident in its long-term prospects.

Rebuild the Planet with RobotEra – A Unique Metaverse Project!

• RobotEra is a sandbox-like planet-rebuilding metaverse project that focuses on engaging users in multiple activities.
• Players are presented as robots on the metaverse project, and each robot is a non-fungible token (NFT).
• RobotEra presents a full package of metaverse opportunities for users to acquire resources, create robot companions, participate in quests, and connect with other worlds.

RobotEra is a next-generation metaverse project that gives users the ultimate opportunity to take part in the planet-rebuilding process. Launched in November 2022, this ambitious project has already made a name for itself in the virtual world. It stands out from the competition with its unique approach to engaging players and its focus on creative collaboration.

The concept of RobotEra is simple yet groundbreaking. In the game, players assume the role of robots whose mission is to rebuild a desolate virtual landscape. To do this, they must acquire resources, create robot companions, and participate in quests. This is made possible through the use of non-fungible tokens (NFTs), which give each robot its own characteristics and make it unique from the others.

RobotEra also stands out from the rest of the metaverse projects due to its shared multiverse. Through this, users can connect with other worlds to create and collaborate, monetize theme parks through launches, organize events, and even set up digital storefronts. This is a great way for players to show off their creativity and make a name for themselves in the virtual world.

RobotEra is more than just a metaverse project. It is a new way to engage with the virtual world and a great way to make money. With its unique approach to the metaverse concept and the potential to earn rewards, RobotEra is the perfect platform for anyone looking to make their mark in the world of virtual reality.

Octopus Network Lays Off Staff, Cuts Salaries to Survive Crypto Winter

• Octopus Network, a multichain crypto network, has been forced to lay off 40% of its core team and reduce pay for the remaining members due to the ongoing crypto winter.
• The project founder, Louis Liu, expects the crypto winter to last at least another year.
• In order to survive the crypto winter, Octopus Network has implemented a ‘Voluntary Separation Program’, which includes layoffs, salary cuts, and the suspension of team token incentives.

Octopus Network, a multichain crypto network, has been forced to take drastic measures to survive the ongoing crypto winter. The company had to lay off 40% of its core team and reduce pay for the remaining members in order to stay afloat during this difficult time.

The founder of Octopus Network, Louis Liu, is expecting the crypto winter to last at least another year. In order to survive this prolonged period of bearish market conditions, Liu has implemented a ‘Voluntary Separation Program’. This program includes layoffs of 12 of 30 members of the core team, a 20% salary cut for the remaining team members, and the suspension of team token incentives.

Liu explained that Octopus Network was designed to support Web3 applications by providing appchain infrastructure on-demand. In order to do this, the company has to invest a lot of resources into IT infrastructure and community mindshare. However, the prolonged bearish market conditions have made it difficult to maintain these investments. Therefore, the Voluntary Separation Program was necessary in order to ensure the long-term survival of the company.

In addition to the Voluntary Separation Program, Octopus Network is also pivoting its strategy to focus on the NEAR blockchain and the Inter-Blockchain Communication Protocol (IBC). While these new projects will require some investment and resources, Liu is confident that they will help the company stay afloat during the crypto winter and beyond.

Overall, Octopus Network is taking all the necessary measures to survive the crypto winter. With the implementation of the Voluntary Separation Program and the pivot to the NEAR blockchain and IBC, Liu is hoping that the company will be able to weather the storm and come out on the other side stronger than ever.

BlueNoroff Impersonates VCs in Cryptocurrency Phishing Scam

• North Korean state-sponsored hacking group BlueNoroff is now impersonating venture capitalists in a new phishing scam.
• The group has created more than 70 fake domains to pose as venture capital firms and banks.
• Kaspersky has reported that BlueNoroff is using malware to bypass MOTW technology and compromise cryptocurrency transfers.

North Korean state-sponsored hacking group BlueNoroff has recently been identified as the source of a new phishing scam. According to a report from the cybersecurity firm Kaspersky, BlueNoroff has created more than 70 fake domains that are posed as venture capital firms and banks. These fake VCs have been specifically targeting the cryptocurrency industry, with a particular focus on smart contracts, DeFi, Blockchain and FinTech startups.

The malicious activities of BlueNoroff have been facilitated by the use of malware that is designed to bypass Mark-of-the-Web (MOTW) technology. MOTW is a security feature that is designed to alert users when they attempt to open a file downloaded from the Internet. By bypassing this technology, BlueNoroff is able to access cryptocurrency transfers and intercept them by changing the recipient’s address. This allows them to quickly drain accounts in a single transaction.

Kaspersky also emphasized that BlueNoroff has been using phishing techniques to try and infect targeted companies. This involves sending emails with malicious attachments, such as the infamous “Shamjit Client Details Form.doc” which was first identified by Kaspersky back in 2016. This document was used to gain access to a UAE citizen’s computer and extract information from it.

In light of the new findings, Kaspersky recommends that companies and users in the cryptocurrency industry ensure that they are taking the necessary steps to protect themselves from such threats. This includes regularly updating anti-virus software, implementing two-factor authentication, and regularly monitoring accounts for unusual activity. Additionally, users should be aware of phishing emails, and not open attachments or links from suspicious sources.

BlueNoroff’s new phishing scam is a reminder that the cryptocurrency industry is still vulnerable to malicious actors, and that users must remain vigilant in order to protect their digital assets. By taking the necessary precautions and remaining aware of the latest threats, users can help to ensure that their accounts and funds remain secure.