• Bitcoin (BTC) has seen significant growth in the last seven days and is currently hovering near the $27,000 mark. • Some are calling for a new crypto bull market as the banking system in the U.S. appears to be on the brink of collapse. • Ethereum (ETH), the second largest cryptocurrency, has also seen

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• Justin Sun withdrew $60 million from Huobi around the time of the HT Token flash crash. • Sun defended his withdrawal, but some remain skeptical due to his past controversies. • Allegations against Sun include insider trading and securities fraud. Justin Sun Withdraws $60M from Huobi On-chain data showed ~$60 million in stablecoins taken

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• FTX cryptocurrency exchange has revealed a massive shortfall in crypto and fiat currency holdings, with billions of customer funds missing from both the exchange and its US subsidiary. • Documents show that FTX had $2.2 billion in exchange wallets and fiat accounts, but only $694 million of these assets were in the most liquid

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• Animoca Brands Japan, a strategic subsidiary of Animoca Brands, has invested in Passion Labs. • Both companies will collaborate in helping Japanese companies move to Web3 and create Web3 communities. • Passion Labs provides analytics to strengthen luxury and automotive brands in Japan and Asia-Pacific. Animoca Brands Japan Invests in Passion Labs Animoca Brands‘

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• The Sandbox has announced a partnership with Toei Animation to create experiences in the metaverse. • In celebration of the partnership, limited edition NFTs will be given away to the first thousand registered people. • The Sandbox’s founder is excited about bringing some of Japan’s best content into the metaverse for players and creators

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Summary The SEC is probing crypto exchange Kraken for possibly violating U.S. securities law by offering unregistered securities. If Kraken settles with the regulator, the SEC could potentially gain more jurisdiction over the crypto industry. The SEC has mainly focused on enforcement without publishing a clear guideline for regulating crypto assets in the U.S. SEC

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• Binance, the world’s largest cryptocurrency exchange, is launching the white paper for its BNB Greenfield, a decentralized data storage system. • BNB Greenfield will grant users and decentralized applications (dApps) complete data ownership and support website hosting, publishing, data storage, and personal cloud applications. • BNB Greenfield is set to compete with big tech

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• The Financial Times exposed that Sam Bankman-Fried (SBF), the former CEO of FTX, invested $400 million in Modulo Capital in the third and fourth quarters of 2022. • It was revealed that SBF had a romantic relationship with Xiaoyun „Lily“ Zhang, one of the co-founders of Modulo, and the two had worked together at

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•Kang Jong-Hyeon, the owner of Bithumb, South Korea’s largest crypto exchange, has been charged with embezzlement and a breach of trust. •Two other executives of Bithumb affiliates have been charged as well in relation to the manipulation of stock prices of several companies affiliated with Bithumb. •Vidente, Bithumb’s largest shareholder, is also linked to the

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