MELEGA

<p>Welcome to this week&#39;s crypto recap! It&#39;s been an eventful week in the global crypto market, with a series of interesting updates from multiple high-profile lawsuits.</p><p>It&#39;s good news for #Bitcoin enthusiasts, as the coin saw a surge in price, hitting over $39,000 - a level last seen in May 2022. The price hike was fueled by the Federal Reserve&#39;s latest commentary on inflation, which created excitement in the market.</p><p>Additionally, MicroStrategy&#39;s announcement of a whopping $600 million $BTC purchase further supported the surge. This purchase comes ahead of the potential approval of all Bitcoin exchange-traded fund (ETF) applications by the U.S. Securities and Exchange Commission.</p><p>What are the top news stories you might have missed this week?</p><p>Let&#39;s dive in!</p><p>For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to <a href="https://melega.finance/" rel="noopener noreferrer nofollow">visit our website</a> and follow Melega Finance (<a href="https://twitter.com/melegadex" rel="noopener noreferrer nofollow">&#64;melegadex</a>) on Twitter for more on all things cryptocurrency.</p><h2 id="header-0">TOP CRYPTO NEWS RECAP (NOVEMBER 19–NOVEMBER 25, 2023)</h2><p>●  SEC Accelerates Public Input on Crypto ETFs, Fuels Speculation for January Approvals</p><p>●  Celsius Enables Withdrawals for Eligible Crypto Holders Amid Bankruptcy Proceedings</p><p>●  KyberSwap Hacker Demands Control Over Kyber Company in Return for Stolen Funds</p><p>●  FTX Granted Approval to Sell $873M of Assets for Creditor Repayment</p><p>●  Genesis and DCG Reach Repayment Agreement, Potentially Ending $620M Lawsuit</p><p>●  CZ Steps Down as Binance US Chairman; Investors Sue Ronaldo Over Binance Ties</p><h3 id="sec-accelerates-public-input-on-crypto-etfs-fuels-speculation-for-january-approvals">SEC Accelerates Public Input on Crypto ETFs, Fuels Speculation for January Approvals</h3><p>The Gary Gensler-led U.S. Securities and Exchange Commission (SEC) has opened a public comment period for Franklin Templeton and Hashdex&#39;s Bitcoin ETFs, hinting at a <a href="https://twitter.com/SGJohnsson/status/1729575861664243928?s&#61;20" rel="noopener noreferrer nofollow">potential accelerated approval process</a> by January 10, 2024. This unexpected development follows the SEC&#39;s initiation of a 21-day comment period for Fidelity&#39;s Ethereum ETF proposal, reinforcing speculation of a broader regulatory shift towards approving both Bitcoin and Ethereum ETFs simultaneously.</p><p>As public interest grows, the SEC seeks feedback on market manipulation concerns, pricing mechanisms, and liquidity issues on associated exchanges. Bitcoin ($BTC) and Ethereum ($ETH) respond positively, hitting new 2023 highs.</p><h3 id="celsius-enables-withdrawals-for-eligible-crypto-holders-amid-bankruptcy-proceedings">Celsius Enables Withdrawals for Eligible Crypto Holders Amid Bankruptcy Proceedings</h3><p>Celsius, the bankrupt cryptocurrency lending platform, has <a href="https://cases.stretto.com/public/x191/11749/PLEADINGS/1174911292380000000040.pdf" rel="noopener noreferrer nofollow">announced </a>that eligible participants can now withdraw 72.5% of their cryptocurrency holdings, minus transaction fees. This development comes as a crucial step forward for the company and its clients, who have been facing financial instability and legal issues.</p><p>The withdrawals are available to participants falling under specific custody claims, with a withdrawal deadline set for February 28, 2024. The platform has been navigating bankruptcy proceedings and legal challenges while also planning to transition its core business to Bitcoin mining.</p><h3 id="kyberswap-hacker-demands-control-over-kyber-company-in-return-for-stolen-funds">KyberSwap Hacker Demands Control Over Kyber Company in Return for Stolen Funds</h3><p>The hacker responsible for the $46 million <a href="https://slowmist.medium.com/a-deep-dive-into-the-kyberswap-hack-3e13f3305d3a" rel="noopener noreferrer nofollow">KyberSwap exploit</a> has outlined their conditions for returning the stolen funds. The demands, as seen in an <a href="https://etherscan.io/tx/0x0479da9d6a3a29b294d6337630ea0a482e7ec7223f3b6e6d72442f6c450264d4" rel="noopener noreferrer nofollow">on-chain message</a> on Etherscan, include complete executive control over the Kyber company, ownership of its governance mechanism, and all company assets.</p><p>In exchange, the hacker promises to buy out executives, double employee salaries, and provide severance packages. Token holders and investors would also benefit from the transition. Liquidity providers would receive rebates for losses incurred. The hacker sets a deadline of December 10 for the Kyber team to meet their demands, threatening to void the treaty otherwise.</p><h3 id="ftx-granted-approval-to-sell-873m-of-assets-for-creditor-repayment">FTX Granted Approval to Sell $873M of Assets for Creditor Repayment</h3><p>Bankrupt crypto exchange FTX has received <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1&#61;MjYwMjgzNg&#61;&#61;&amp;id2&#61;-1" rel="noopener noreferrer nofollow">court approval</a> to sell approximately $873 million worth of trust assets. The proceeds will be used to repay creditors affected by the exchange&#39;s collapse. The assets, sourced from FTX&#39;s stakes in trusts issued by Grayscale Investments and Bitwise, include the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE).</p><p>FTX&#39;s administrators have been working to recover assets since the collapse, with around $7 billion recovered so far. Meanwhile, FTX&#39;s founder, Sam Bankman-Fried, awaits sentencing after being convicted on fraud-related charges.</p><h3 id="genesis-and-dcg-reach-repayment-agreement-potentially-ending-620m-lawsuit">Genesis and DCG Reach Repayment Agreement, Potentially Ending $620M Lawsuit</h3><p>Crypto lender Genesis and its parent company, Digital Currency Group (DCG), have reached a <a href="https://restructuring.ra.kroll.com/genesis/Home-DownloadPDF?id1&#61;MjYwMTczOQ&#61;&#61;&amp;id2&#61;-1" rel="noopener noreferrer nofollow">repayment agreement</a>that could bring an end to a $620 million lawsuit. According to the deal, DCG will repay Genesis&#39;s outstanding $324.5 million in loans by April 2024, with Genesis able to pursue any unpaid amounts. The agreement aims to avoid the costs and resources associated with litigation.</p><p>This development is part of Genesis&#39;s plan to repay creditors, pending a vote from creditors and a decision from Judge Sean Lean. Genesis has also filed a lawsuit against crypto exchange Gemini for nearly $670 million in transfers.</p><h3 id="cz-steps-down-as-binance-us-chairman-ronaldo-sued-over-binance-ties">CZ Steps Down as Binance US Chairman; Ronaldo Sued Over Binance Ties</h3><p>The world&#39;s leading cryptocurrency exchange, Binance, continues to struggle in the midst of legal difficulties. Its former CEO, Changpeng Zhao (CZ), has pleaded guilty to violating the Bank Secrecy Act. CZ, who is stepping down and facing a $150 million penalty, may not leave the United States until 2024.</p><p>On November 28, 2023, Binance US, the American branch of the global cryptocurrency exchange, also <a href="https://twitter.com/BinanceUS/status/1729530641526435859" rel="noopener noreferrer nofollow">announced </a>that Changpeng Zhao is stepping down as chairman of the board of directors. Meanwhile, the exchange assures customers that operations will proceed as usual despite CZ&#39;s departure and legal issues.</p><p>Simultaneously, soccer star Cristiano Ronaldo <a href="https://www.bbc.com/news/technology-67566602" rel="noopener noreferrer nofollow">faces a lawsuit </a>for promoting Binance&#39;s NFTs, accused of involving unregistered securities.</p><h2 id="header-1">NEWS FROM MELEGA ECOSYSTEM</h2><h3 id="1-a-href-https-lonecoin-io-rel-noopener-noreferrer-nofollow-lone-coin-lone-a-a-href-https-lonecoin-io-rel-noopener-noreferrer-nofollow-listed-on-melegaswap-farm-pool-a">1.  <a href="https://lonecoin.io/" rel="noopener noreferrer nofollow">Lone Coin (LONE)</a><a href="https://lonecoin.io/" rel="noopener noreferrer nofollow"> Listed on MelegaSwap Farm &amp; Pool</a></h3><p>LoneCoin is a meme token coin based on the Lone Ranger and the Lone Wolf. It incorporates traits of the ranger&#39;s honesty and integrity and the wolf&#39;s power and strength.</p><h3 id="2-melegaswap-doubles-pepburn-giving-users-more-opportunities-to-earn-tokens">2.  MelegaSwap Doubles PEPBURN, Giving Users More Opportunities to Earn Tokens</h3><p>MelegaSwap has doubled its PEPBURN rate. This means users can earn twice as many PEP tokens for staking and providing liquidity to the MelegaSwap exchange.</p><p>The increased PEPBURN rate is a significant boost for Melega users, as it will make it easier for them to accumulate tokens. Long-term investors can use the increased PEPBURN rate to compound their earnings over time.</p><h3 id="3-melega-launches-the-pepeburn-dex-wars-competition">3.  Melega Launches the $PEPEBURN DEX Wars Competition</h3><p>The $PEPEBURN DEX Wars Competition is now open between MelegaSwap and PancakeSwap! This is your chance to win from the 10,000 $PEPEBURN prize pool.</p><p>The top three biggest buyers for each DEX will receive rewards:</p><p>●  First place: 2,000 PEPEBURN</p><p>●  Second place: 1,000 PEPEBURN</p><p>●  Third place: 500 PEPEBURN</p><p>To learn more, visit the <a href="https://t.me/melegachannel/411" rel="noopener noreferrer nofollow">competition announcement</a>.</p><h3 id="">•••</h3><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 while still having 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>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Website:<a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow"> https://melegaswap.finance</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</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/melegadex" rel="noopener noreferrer nofollow">https://twitter.com/melegadex</a></p><p>Binance Feed Page: <a href="https://www.binance.com/en/feed/profile/212703589" rel="noopener noreferrer nofollow">https://www.binance.com/en/feed/profile/212703589</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>

Crypto Weekly Recap: CR7 Sued Over Binance Ties; Celsius Allows Withdrawals; Genesis and DCG Settle $620M Suit; and More (Nov. 26–Dec. 2, 2023)

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