Bitcoin

Gary

Shiba Inu

<p class="is-style-lead">The crypto venture capital scene is busy; Binance founder and former CEO Changpeng Zhao completes a four-month sentence; and SEC chair Gary Gensler addresses Bitcoin in a TV appearance. Read on for our weekly recap:</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/veteran-strategist-warns-bitcoin-could-dip-to-40k-consider-ethereum-and-cybro/"> Veteran strategist warns Bitcoin could dip to $40K; consider Ethereum and Cybro </a></p>
<h2 class="wp-block-heading" id="celestia-crypto-startups-attract-vc">Celestia, crypto startups attract VC</h2>
<ul class="wp-block-list">
 <li>More than $253 million <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-vc-funding-celestia-capital-infinex-this-week/">flowed</a> into the crypto startup world; the bulk of that funding went to the blockchain network Celestia Foundation, which <a rel="noopener noreferrer nofollow" href="https://crypto.news/celestia-foundation-secures-100m-in-new-fundraising/">raised</a> $100 million to support its namesake modular blockchain network.</li>
</ul>
<ul class="wp-block-list">
 <li>Infinex, a decentralized exchange, secured $65.29 million via a non-fungible token, or NFT, sale.</li>
</ul>
<h2 class="wp-block-heading" id="zhao-exits-prison-ellison-receives-sentence">Zhao exits prison, Ellison receives sentence</h2>
<ul class="wp-block-list">
 <li><a href="https://crypto.news/tag/changpeng-zhao/" target="_blank" rel="noopener noreferrer nofollow">Changpeng Zhao</a> <a rel="noopener noreferrer nofollow" href="https://crypto.news/binance-founder-and-former-ceo-changpeng-zhao-released-from-prison/">completed</a> a <a href="https://crypto.news/binance-founder-changpeng-zhao-sentenced-to-4-months-in-prison/" target="_blank" rel="noopener noreferrer nofollow">four-month</a> prison sentence for admitting that <a href="https://crypto.news/tag/binance/" target="_blank" rel="noopener noreferrer nofollow">Binance</a>, the company he founded, failed to enforce adequate <a href="https://crypto.news/tag/kyc/" target="_blank" rel="noopener noreferrer nofollow">Know Your Customer</a> checks under his watch as CEO.</li>
</ul>
<ul class="wp-block-list">
 <li>Three days earlier, crypto entrepreneur Caroline Ellison was <a rel="noopener noreferrer nofollow" href="https://crypto.news/caroline-ellison-sentenced-to-2-years-for-role-in-ftx-crypto-fraud/">sentenced</a> to two years in prison for her involvement in the collapse of cryptocurrency exchange <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/FTX/">FTX</a> and its affiliated hedge fund, <a href="https://crypto.news/tag/alameda-research/" target="_blank" rel="noopener noreferrer nofollow">Alameda Research</a> — two companies central to one of the largest financial scandals in U.S. history.&nbsp;</li>
</ul>
<h2 class="wp-block-heading" id="sec-bitcoin-is-not-a-security">SEC: Bitcoin is not a security</h2>
<ul class="wp-block-list">
 <li>Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) is not a security. That’s according to recent <a rel="noopener noreferrer nofollow" href="https://crypto.news/secs-gensler-bitcoin-not-a-security/">comments</a> made by U.S. Securities and Exchange Commission (SEC) chair Gary Gensler on CNBC. Regulatory filings have referred to the $1.2 trillion asset as a non-security commodity.&nbsp;</li>
</ul>
<ul class="wp-block-list">
 <li>Also this week, TrueCoin and TrustToken <a rel="noopener noreferrer nofollow" href="https://crypto.news/sec-charges-trusttoken-and-truecoin-over-stablecoin-fraud/">settled</a> charges filed by the SEC, alleging unregistered offering and investment contract sales between November 2020 and April 2023.</li>
</ul>
<h2 class="wp-block-heading" id="paypal-unveils-crypto-update-for-merchants">PayPal unveils crypto update for merchants</h2>
<ul class="wp-block-list">
 <li>PayPal will start <a rel="noopener noreferrer nofollow" href="https://crypto.news/paypal-now-allowing-us-business-accounts-to-trade-crypto/">allowing</a> U.S. merchants to purchase, hold, and sell cryptocurrency directly through their PayPal business accounts.</li>
</ul>
<ul class="wp-block-list">
 <li>Since 2020, <a href="https://crypto.news/tag/PayPal/" target="_blank" rel="noopener noreferrer nofollow">PayPal</a> and its subsidiary Venmo <a href="https://crypto.news/paypal-rolling-out-crypto-transfers-for-venmo-customers/" target="_blank" rel="noopener noreferrer nofollow">have allowed</a> consumers to buy, sell, and hold crypto like Bitcoin and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>).&nbsp; 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.&nbsp;</li>
</ul>
<h2 class="wp-block-heading" id="money-laundering-scheme-thwarted">Money laundering scheme thwarted</h2>
<ul class="wp-block-list">
 <li>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.</li>
</ul>
<ul class="wp-block-list">
 <li>The US authorities <a rel="noopener noreferrer nofollow" href="https://crypto.news/us-seizes-crypto-domains-connected-to-russian-money-laundering-scheme/">charged</a> two Russian nationals for allegedly pocketing millions from a prolific <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/money-laundering/">money laundering</a> scheme built on a network of cyber criminals across the globe.</li>
</ul>
<h2 class="wp-block-heading" id="meme-coin-supercycle">Meme coin ‘supercycle’?</h2>
<ul class="wp-block-list">
 <li>Hamster Kombat (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/hamster-kombat/">HMSTR</a>) <a rel="noopener noreferrer nofollow" href="https://crypto.news/hamster-kombat-in-a-harsh-reversal-market-cap-drops-below-notcoin/">plunged</a> by over 30% following its much-anticipated airdrop and token listing. Meanwhile, <a href="https://crypto.news/tag/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> (<a href="https://www.coingecko.com/en/coins/shiba-inu" target="_blank" rel="noopener noreferrer nofollow">SHIB</a>), <a href="https://crypto.news/tag/pepe/" target="_blank" rel="noopener noreferrer nofollow">Pepe </a>(<a href="https://crypto.news/price/pepe/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a>) , and <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/Dogwifhat/">Dogwifhat</a> (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/dogwifhat/">WIF</a>) led the top weekly market gainers as the total meme coin market cap rose 25%, surpassing $55 billion.</li>
</ul>
<ul class="wp-block-list">
 <li>Analysts predict a so-called “<a href="https://crypto.news/shib-inu-pepe-dogwifhat-soar-amid-meme-coin-supercycle/" target="_blank" rel="noopener noreferrer nofollow">meme coin supercycle</a>,” akin to what we saw during the bull run of 2020.</li>
</ul>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/elon-musk-inspired-government-efficiency-coin-33000/"> Elon Musk-inspired Department of Government Efficiency token spikes 33,000% </a></p>

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

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