Celestia raises $100m, Binance founder leaves prison, Gensler reaffirms Bitcoin stance | Weekly Recap

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As a seasoned analyst with a decade-long career in finance and technology, I find myself constantly intrigued by the ever-evolving landscape of crypto. This week, the headlines have been as dynamic as the digital assets themselves.

This week in the world of cryptocurrency, things are bustling! Notably, Binance‘s founder and ex-CEO, Changpeng Zhao, has concluded his four-month imprisonment. Meanwhile, SEC chairman Gary Gensler spoke about Bitcoin during a television interview. Let’s dive into this week’s highlights:

  • Infinex, a decentralized exchange, secured $65.29 million via a non-fungible token, or NFT, sale.
  • Three days earlier, crypto entrepreneur Caroline Ellison was sentenced to two years in prison for her involvement in the collapse of cryptocurrency exchange FTX and its affiliated hedge fund, Alameda Research — two companies central to one of the largest financial scandals in U.S. history. 
  • Also this week, TrueCoin and TrustToken settled charges filed by the SEC, alleging unregistered offering and investment contract sales between November 2020 and April 2023.
    Since 2020, PayPal and its subsidiary Venmo have allowed consumers to buy, sell, and hold crypto like Bitcoin and Ethereum (ETH).  Extending these capabilities to business account holders allows PayPal to meet the demands of merchants who want the same access to digital assets as consumers. 

Money laundering scheme thwarted

  • The U.S. Department of Justice seized domains linked to three crypto exchanges that have allegedly facilitated illicit transactions worth more than $800 million in relation to Russian money laundering operations.
  • The US authorities charged two Russian nationals for allegedly pocketing millions from a prolific money laundering scheme built on a network of cyber criminals across the globe.
  • Analysts predict a so-called “meme coin supercycle,” akin to what we saw during the bull run of 2020.

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2024-09-29 19:43