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<p>We are here with Melegaswap&#39;s Weekly Crypto News Recap, where we refresh you with most of the top interesting stories about cryptocurrencies throughout the week (July 2–8, 2023).</p><p>BlackRock CEO Larry Fink called Bitcoin &#34;digital gold&#34; and an international asset as the world&#39;s largest asset management firm pushes to list a Bitcoin ETF. Thailand&#39;s SEC implements rules to protect investors, including prominent risk warnings and banning the use of customer funds for lending or investment.</p><p>Interestingly, bankrupt Voyager Digital creditors are currently facing a whopping $5.1 million legal fee invoice!</p><p>In other news, CFTC investigators found that Celsius and its former CEO violated US regulations and might soon file certain actions against them. Sadly, some of Binance&#39;s top officials have resigned amid a US Department of Justice investigation, while the same crypto exchange plans a wallet upgrade, retiring selected deposit addresses, and deactivating memos.</p><p>Join us now as we dive into the cryptocurrency world and help you stay ahead with our weekly news updates!</p><h2 id="header-0">TOP CRYPTO NEWS RECAP: (JULY 2-8, 2023)</h2><p>● BlackRock&#39;s CEO says crypto is digital gold.</p><p>● Thai SEC prohibits customer crypto assets for lending and investment.</p><p>● Bankrupt Voyager Digital creditors billed $5.1 million in legal fees</p><p>● CFTC investigation confirms Ex-Celsius CEO Mashinsky&#39;s rule violation</p><p>● Top officials resigned from Binance, but CZ responds to speculations</p><p>● Binance is retiring some deposit addresses for wallet upgrade</p><h3 id="blackrock-39-s-ceo-says-crypto-is-digital-gold">BlackRock&#39;s CEO says crypto is digital gold.</h3><p>BlackRock CEO Larry Fink has once again <a href="https://www.foxbusiness.com/markets/blackrocks-bitcoin-spot-etf-will-democratize-crypto-ceo-larry-fink" rel="noopener noreferrer nofollow">shown his support</a> for cryptocurrencies, calling Bitcoin (BTC) &#34;digital gold&#34; and an international asset. As mentioned last week, the world&#39;s largest asset management firm is seeking to list a spot Bitcoin ETF, indicating increased involvement by traditional finance giants in the crypto space.</p><p>Fink believes Bitcoin plays a crucial role in digitizing gold and suggests regulators consider ETFs linked to it. He also believes that Bitcoin&#39;s independence from any specific currency makes it an alternative asset for hedging against inflation and currency devaluation. However, while BlackRock&#39;s ETF fate lies with the SEC, the outcome is highly anticipated by crypto enthusiasts and traditional investors.</p><h3 id="the-thai-sec-prohibits-customer-crypto-assets-for-lending-and-investment">The Thai SEC prohibits customer crypto assets for lending and investment.</h3><p>Thailand&#39;s SEC has implemented <a href="https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID&#61;10018" rel="noopener noreferrer nofollow">new rules</a> for digital asset providers to protect investors. The country’s regulator prohibits using customer funds for lending or investment, banning crypto lending services and any return on customer deposits. Moreover, platforms must prominently display a warning message about the high risks of crypto and gain customer consent before use.</p><p>Discussions on crypto investor protection began on September 1, 2022, and led to these regulations after the crypto lending crisis during the 2022 bear market. The rules will take effect across Thailand on July 31, 2023.</p><h3 id="bankrupt-voyager-digital-creditors-billed-5-1-million-in-legal-fees">Bankrupt Voyager Digital creditors billed $5.1 million in legal fees</h3><p>Bankrupt Voyager Digital creditors face a hefty $5.1 million legal fee invoice from New York law firm McDermott Will &amp; Emery. The firm <a href="https://cases.stretto.com/public/x193/11753/PLEADINGS/1175307042380000000001.pdf" rel="noopener noreferrer nofollow">billed</a> for services provided between July 22, 2022, and May 18, 2023, charging an hourly rate of $1,026.76.</p><p>Meanwhile, this final bill brings the total compensation sought by McDermott Will &amp; Emery to a staggering $16.48 million, with $8.97 million already paid. Voyager Digital also received a $1.1 million legal fee invoice from Kirkland &amp; Ellis for April. Other crypto firms, including Celsius and FTX, have faced similar challenges, with FTX accumulating $120 million in fees during the bankruptcy process.</p><h3 id="cftc-investigation-confirms-ex-celsius-ceo-mashinsky-39-s-rule-violation">CFTC investigation confirms ex-Celsius CEO Mashinsky&#39;s rule violation</h3><p>CFTC investigators have determined that bankrupt crypto lender Celsius and its ex-CEO, Alex Mashinsky,<a href="https://www.bloomberg.com/news/articles/2023-07-05/cftc-probe-concludes-crypto-lender-celsius-ex-ceo-mashinsky-broke-rules" rel="noopener noreferrer nofollow"> broke US regulations</a>. The findings reveal that Celsius and its CEO misled investors, failed to register with the regulator, and violated multiple rules. However, If CFTC commissioners agree, a case could be filed in federal court this month.</p><p>This adds to the regulatory actions against the defunct lending platform, including a lawsuit from the New York Attorney General and investigations by the SEC that revealed Celsius misled regulators.</p><h3 id="top-officials-resigned-from-binance-but-cz-responds-to-speculations">Top officials resigned from Binance, but CZ responds to speculations</h3><p>Several top officials have departed Binance, the leading centralized crypto exchange, as it prepares to defend itself on multiple fronts. Departures include General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Compliance Senior Vice President Steve Christie.</p><p>In addition, Binance&#39;s Global VP of Marketing and Communications, Steve Milton, left in June, and the exits are reportedly linked to CEO Changpeng &#34;CZ&#34; Zhao&#39;s handling of a US Department of Justice investigation. CZ, however, <a href="https://twitter.com/cz_binance/status/1677092535871602691?s&#61;20" rel="noopener noreferrer nofollow">explained </a>in a tweet how turnovers are a common occurrence in every organization. These came as Binance faces scrutiny from global regulators, including lawsuits from the SEC and CFTC.</p><h3 id="binance-is-retiring-some-deposit-addresses-for-wallet-upgrade">Binance is retiring some deposit addresses for wallet upgrade</h3><p>The Binance crypto exchange is preparing for a <a href="https://www.binance.com/en/support/announcement/existing-deposit-addresses-to-be-retired-in-q3-july-september-2023-ffbe37cbd85f46db8fe3021ee3f85eb3" rel="noopener noreferrer nofollow">wallet infrastructure upgrade</a>. The company announced the retirement of selected deposit addresses as part of a network address migration in Q3 2023. This upgrade will impact 40 cryptocurrencies, including Bitcoin, Bitcoin Cash, XRP, Solana, Monero, Litecoin, Dogecoin, Cardano, Polkadot, and more. Also, Binance will deactivate memos, which they will use to identify transaction recipients.</p><p>Impacted users will receive notifications and are advised to get new addresses and memos. Funds deposited into expired addresses won&#39;t be lost but won&#39;t be automatically credited. This is part of the regularly scheduled upgrades to enhance efficiency and fund security.</p><h2 id="header-1">NEW LISTINGS ON MELEGASWAP</h2><p>We are pleased to present our new partners at the <a href="https://www.melegaswap.finance/" rel="noopener noreferrer nofollow">Melega Ecosystem</a> and new crypto listings on the Melegaswap decentralized crypto platform exchange.</p><h3 id="a-href-https-www-flytoken-bio-rel-noopener-noreferrer-nofollow-fly-token-fly-a"><a href="https://www.flytoken.bio/" rel="noopener noreferrer nofollow">FLY Token (FLY)</a></h3><p>$FLY is your new go-to memecoin on the Binance Smart Chain. The daily mission of this coin is to flood the crypto world with the buzziest memes and a token about fun, community, and potential gains.</p><h3 id="a-href-https-www-aaroncoin-fun-rel-noopener-noreferrer-nofollow-aaron-aaron-a"><a href="https://www.aaroncoin.fun/" rel="noopener noreferrer nofollow">AARON (AARON)</a></h3><p>The first skilled “Crypto Teen” has come to BSC to play with dogs, frogs, games, and toons. Well-trained to surf the waves of the market, the $AARON token is a project designed to take the game of meme coins to a new level. He is definitely here to stay and rule. Check out the full announcement <a href="https://coinmarketcap.com/community/articles/649e7c4f37a2c857e7eec73d/" rel="noopener noreferrer nofollow">here</a>.</p><h3 id="a-href-https-pintacrypto-shop-rel-noopener-noreferrer-nofollow-pinta-crypto-pco-a"><a href="https://pintacrypto.shop/" rel="noopener noreferrer nofollow">PINTA CRYPTO (PCO)</a></h3><p>Pinta Crypto (PCO) has the advantage of a supply of only 70 thousand tokens. Each purchase causes an explosion in the graph, and with each purchase, you gain reflection in USDT. With 50 tokens, you already earn 6% in dollars; it&#39;s wonderful. Moreover, 1% of all marketing portfolios is donated to APAI LAR DE IDOSO AND FUNDEF.</p><h3 id="a-href-https-teenycapcoin-github-io-rel-noopener-noreferrer-nofollow-teenycapcoin-teeny-a"><a href="https://teenycapcoin.github.io/" rel="noopener noreferrer nofollow">TeenyCapCoin (TEENY)</a></h3><p>TeenyCapCoin (TEENY) is the smallest memecoin in the cryptocurrency space. Bursting onto the scene with the cutest $10 launch imaginable, this unique gem is poised to go from small beginnings to sky-high growth. Despite its humble market capitalization and pint-sized liquidity pool, TEENY is brimming with enormous potential for those who dare to dream big. But it&#39;s not all fun and games—TEENY has a heart, too! This zesty coin is on a mission to change the world, making a significant impact through charity initiatives for our planet&#39;s tiniest residents.</p><h3 id="a-href-https-mongbnb-io-rel-noopener-noreferrer-nofollow-mong-2-0-mong2-0-a"><a href="https://mongbnb.io/" rel="noopener noreferrer nofollow">Mong 2.0 (MONG2.0)</a></h3><p>MONG 2.0 was launched to give the Mongbnb community a true decentralized token, presale with a max buy of 0.1 bnb, only accessible to Mongbnb holders, without presale whales. With better Tokenomics, reflections in BNBs for the long term holders, and continued funding for marketing, the project can grow the best BSC community around a meme token.</p><h2 id="header-2">•••</h2><p><em><strong>Risk warning: </strong>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.</em></p><h3 id="trade-with-the-best-decentralized-amm-cryptocurrency-exchange">Trade with the best decentralized AMM cryptocurrency exchange</h3><p>Do you want to buy, sell, and invest in cryptocurrencies and still have 100% control of your crypto assets? If yes, then Melega Finance is for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that offers users various options to trade and earn free tokens at high-interest rates and low charges.</p><p>At Melega, nobody manages your funds for you because you manage them directly from your wallet, while smart contracts transparently take care of everything else.</p><p><strong>Learn More About the Melega Ecosystem</strong></p><p>Website: <a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow">https://melegaswap.finance</a></p><p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p><p>Twitter: <a href="https://twitter.com/meleganza" rel="noopener noreferrer nofollow">https://twitter.com/meleganza</a></p><p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p><p>YouTube:<a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow"> Melega Finance Official</a></p><p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p>

Crypto Weekly Recap: BlackRock CEO backs crypto as digital gold; Binance loses top staff; Thai SEC bans crypto lending; and more (July 2–8, 2023)

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