LedgerX, Binance, SEC, Coinbase, Google Ads, LUNA, FTX, MEME coin, MelegaSwap, MELEGA, MARCO token, DEX, DeFi, Swap, Crypto Exchange
Welcome to MelegaSwap's weekly cryptocurrency news roundup, where we keep you up-to-date on the latest happenings in the exciting world of digital currencies. This week, from April 23rd to April 29th, 2023, was a rollercoaster ride for Bitcoin (BTC) and the overall crypto market, with dramatic price swings and regulatory actions dominating the news.
Bitcoin experienced massive volatility, bouncing between $27,000 and $30,000 but ultimately falling short of the coveted $30k mark. At press time, BTC is trading for $29,397, marking an impressive 7.45% increase in the last seven days. Other altcoins also saw slight gains, despite the turbulence caused by regulatory uncertainties and other fundamental factors.
In this week's updates, we have exciting news about Binance.US backing out of a $1 billion Voyager assets purchase, a wallet responsible for launching over 114 meme coin scams in under two months, a South Korean court ruling that LUNA is not a security, 3,000 victims losing $4.16 million in crypto to Google Ads phishing links, Coinbase's response to the SEC's Well Notice in a video, and the struggling FTX exchange selling LedgerX for $50 million
As always, we strive to keep you ahead of the curve with the latest developments in the world of cryptocurrencies. So, now, let's dive into this week's recap and discover the surprises that made headlines.
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TOP STORIES THIS WEEK (April 23-29 2023)
● Binance.US withdraws from the $1 billion Voyager asset deal
● One wallet is responsible for launching over 114 meme coin scams in under 60 days
● A South Korean court declares Luna is not a security
● Google Ads phishing links cause $4.16 million crypto losses for 3,000 victims
● Coinbase addresses SEC's Well Notice through a video
● FTX exchange sells LedgerX for $50 million amidst financial challenges
Binance.US withdraws from $1 billion Voyager asset deal
However, FTX later backed out, and Voyager entered into the Binance.US deal, which was met with opposition from regulators. Both the SEC and US Attorney filed requests to delay the buyout, which were denied. Voyager is now investigating potential claims against Binance.US and coordinating with the Voyager Official Committee of Unsecured Creditors to proceed with self-liquidation.
One wallet responsible for launching over 114 meme coin scams in under 60 days
South Korean court declares Luna as not a security
Google Ads phishing links cause $4.16 million crypto loss for 3,000 victims
More than 3,000 victims have fallen prey to malicious cryptocurrency phishing websites advertised on Google, resulting in the theft of at least $4.16 million, according to blockchain analytics and Google Ads data.
Also, Scam Sniffer estimates that promoting crypto-related phishing websites is profitable, with an average cost per click of $1 to $2 and a conversion rate of 40%. Scammers have spent approximately $15,000 on advertising, resulting in a return on investment of 276%, given the $4 million stolen to date.
Coinbase addresses SEC's Well Notice through a video
He also mentioned that the SEC lacks statutory authority to regulate an enterprise like Coinbase, which has already been regulated by the New York State BitLicense. Grewal believes that legislation or rule-making is required if the SEC wants to expand its oversight over the industry.
FTX exchange sells LedgerX for $50 million amidst financial challenges
The deal is still subject to approval from the US Bankruptcy Court, and a hearing is scheduled for May 4th. LedgerX, which is regulated by the Commodity Futures Trading Commission, will be put in the hands of a good steward, as FTX seeks to sell three other functional businesses.
THIS WEEK IN THE MELEGASWAP ECOSYSTEM
Solerise (SLR)
DsunDAO (Dsun)
Baby Marco NFT minting continues
The minting of the BabyMarco NFTs collection is currently running and available for users to collect. The first collection is limited to 1,000 pieces with 100% free royalties. It is characterized by rarity based on normal, RARE, SUPER RARE, or SUPER SUPER RARE pieces.
Ownership of the BabyMarco NFT will entitle holders to priority participation in BabyMarco's airdrops and voting rights in the Melega DAO.
Melega Project Match events keep running
This week, the following are the projects featured in the Melega project match;
- MasterM X BEAR
- MasterM X M01
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
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