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<p>Hello, crypto enthusiasts! This is MelegaSwap, the world’s leading decentralized ecosystem. Welcome to the latest edition of our weekly cryptocurrency news roundup, where we will discuss the most interesting news from the crypto market from September 17 to September 23, 2023.</p><p>In the world of cryptocurrency, where news breaks faster than you can blink, it&#39;s hard to keep up with everything. But don&#39;t worry, we&#39;ve got you covered. We are here again with a quick recap of some of the biggest crypto news stories from the past week.</p><p>The crypto market has been through a lot in the past week. From lawsuits to hacks to attacks, it&#39;s been a wild ride. Although Bitcoin (BTC) managed to break above $27,400 on Tuesday, September 19th, the<a href="https://www.coinlore.com/convert/btc-bitcoin/usd" rel="noopener noreferrer nofollow"> increase rate</a> throughout the week was just 0.06%. Not much of a move! Almost the same thing with the majority of the top altcoins too.</p><p>So what are the top news stories from the cryptoverse this week? Let&#39;s check them out!</p><h2 id="header-0">TOP CRYPTO NEWS RECAP (SEPTEMBER 17 – SEPTEMBER 23, 2023)</h2><p>●  Binance and CEO Changpeng Zhao Ask Court To Dismiss SEC Suit</p><p>●  Sam Bankman-Fried Key Witnesses Blocked From Testifying in Upcoming Trial</p><p>●  Linearfinance Reports Devastating Attack: LUSD Stablecoin Value Plummets to Zero</p><p>●  Defunct Crypto Exchange Mt. Gox To Delay Payment Deadlines by Another Year</p><p>●  FTX Founder’s Parents Are Accused of Stealing Millions From Crypto Exchange</p><p>●  DeFi Protocol Balancer Fell Victim to a DNS Attack</p><h3 id="binance-and-ceo-changpeng-zhao-ask-court-to-dismiss-sec-suit">Binance and CEO Changpeng Zhao Ask Court To Dismiss SEC Suit</h3><p>Recall that the United States Securities and Exchange Commission (SEC) took legal action against the world&#39;s largest crypto exchange Binance and its CEO Changpeng Zhao for allegedly mishandling funds and violating rules.</p><p>Now, Binance and &#34;CZ&#34; are pushing to dismiss the lawsuit, asserting overreach. They claim the SEC lacks clarity in crypto regulations and is imposing retroactive penalties. According to the filing, there were no clear rules provided to govern the crypto market prior to the lawsuit.</p><p>Unfortunately, recent reports have shown that Binance US&#39;s trading volume has fallen by 98% as the dispute intensifies.</p><h3 id="sam-bankman-fried-key-witnesses-blocked-from-testifying-in-upcoming-trial">Sam Bankman-Fried Key Witnesses Blocked From Testifying in Upcoming Trial</h3><p>A United States judge, Judge Lewis Kaplan has granted the DOJ&#39;s motion to block most of Sam Bankman-Fried&#39;s proposed expert witnesses from testifying in his upcoming fraud trial. Lawrence Akka, a British barrister, and others were excluded.</p><p>While some room for potential testimony remains, conditions must be met. Notably, Judge Kaplan emphasized the trial&#39;s focus on allegations against Bankman-Fried. The trial is set to commence on October 3.</p><p>This development is part of the lawsuit against Samuel Bankman-Fried, founder of FTX, who faces a series of legal setbacks, including a denial of release from jail ahead of the trial.</p><h3 id="linearfinance-reports-devastating-attack-lusd-stablecoin-value-plummets-to-zero">Linearfinance Reports Devastating Attack: LUSD Stablecoin Value Plummets to Zero</h3><p>Hong Kong&#39;s DeFi leader, Linear Finance, suffered a critical attack, draining all ℓUSD liquidity on PancakeSwap and Ascendex. The breach collapsed the value of the ℓUSD stablecoin to zero on CoinGecko.</p><p>The attacker minted unlimited ℓAAVE tokens, then traded for ℓUSD, liquidating on both platforms. However, the Linear Finance team took swift action after the incident: all token operations paused, the bridge contract was disabled, and experts were engaged. Users were also urged to refrain from trading any pairs related to ℓUSD.</p><p>Despite the incident, Linear Finance&#39;s total value locked remains stable at about $8 million.</p><h3 id="defunct-crypto-exchange-mt-gox-to-delay-payment-deadlines-by-another-year">Defunct Crypto Exchange Mt. Gox To Delay Payment Deadlines by Another Year</h3><p>Mt. Gox, a defunct crypto exchange, has delayed the deadline for repaying its creditors by another year, now set for October 31, 2024. This is due to the time required to provide necessary information and engage in discussions with banks, fund transfer service providers, and cryptocurrency exchanges.</p><p>However, some creditors may see payments this year. The exchange was hacked in 2014, and a rehabilitation proposal promising to remunerate about 90% of the assets owed to affected customers was approved in 2021.</p><h3 id="ftx-founder-s-parents-are-accused-of-stealing-millions-from-crypto-exchange">FTX Founder’s Parents Are Accused of Stealing Millions From Crypto Exchange</h3><p>The parents of Sam Bankman-Fried, the founder of FTX, are being sued for damages linked to the crypto company&#39;s collapse. Managers at the bankrupt firm accuse the couple of holding millions of &#34;fraudulently transferred&#34; dollars and turning a blind eye to misconduct at the company.</p><p>The legal action was filed on behalf of millions of FTX customers who lost money when it collapsed last year. Sam Bankman-Fried himself has been accused by US prosecutors of illegally transferring millions from the exchange to plug losses at his trading firm, make political donations, and buy property. He has denied the charges and is currently in jail awaiting trial next month.</p><h3 id="defi-protocol-balancer-fell-victim-to-a-dns-attack">DeFi Protocol Balancer Fell Victim to a DNS Attack</h3><p>Balancer, a decentralized exchange, was hit by a DNS attack on September 19. Hackers redirected users and their transactions to a malicious destination by compromising Balancer&#39;s domain names. Tokens worth $253,044 were stolen, with the majority of the exploit happening within the first couple of hours. The hackers transferred nearly $100,000 worth of tokens to another address. Although the Balancer team advised users not to interact with http://balancer.fi or http://app.balancer.fi, they announced the issues have been finally resolved.</p><h2 id="header-1">NEWS FROM THE MELEGASWAP ECOSYSTEM</h2><h3 id="the-clan-clan-farm-and-pool-listed-on-melegaswap">The Clan (CLAN) Farm and Pool Listed on MelegaSwap</h3><p>The Clan is a rewards center for $CLAN holders. The ultimate recipe for creating a functional ecosystem is balance and reciprocity. &#34;The Clan&#34; was born as a proposal to the entire DeFi community; let&#39;s join forces and create a rewards center.</p><h3 id="rari-rari-farm-pool-will-be-listed-on-melegaswap">RARI (RARI) Farm &amp; Pool Will be Listed on MelegaSwap</h3><p>An icon has arrived to boost the BNB chain. Discover, buy, and hold $RARI to drive in the crypto market race successfully.<a href="https://coinmarketcap.com/community/articles/650a981f5122db4acbdcf0d0/" rel="noopener noreferrer nofollow"> Click to check the full details.</a></p><h3 id="shibafomi-shifo-listed-on-farm-pool-on-melegaswap">Shibafomi (SHIFO) Listed on Farm &amp; Pool on MelegaSwap</h3><p>The best, most powerful, and most innovative meme coin on the Binance smart chain network has finally arrived to trade and farm on Melegaswap!</p><h3 id="the-mix-mx-listed-on-farm-pool-on-melegaswap">The Mix (MX) Listed on Farm &amp; Pool on MelegaSwap</h3><p>The mix is a voting token in the Mushee ecosystem for voting.</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 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>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/melega_space" rel="noopener noreferrer nofollow">https://twitter.com/melega_space</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>

Melega Crypto News Recap: SBF’s Witnesses Banned; Balancer Hacked; Mt.Gox Delays Payment Again; LUSD Stablecoin Falls to Zero; and More (Sept. 17–23, 2023)

Melega Crypto News Recap: SBF’s Witnesses Banned; Balancer Hacked; Mt.Gox Delays Payment Again; LUSD Stablecoin Falls to Zero; and More (Sept. 17–23, 2023)

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