Bitcoin got more transactions than Visa

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 🚨 Influencer arrested amid JPEX liquidity crisis

Hong Kong social media influencer, known as “jolamchok” on Instagram, has been arrested in connection with the liquidity crisis at the crypto exchange JPEX.

The Securities and Futures Commission of Hong Kong alleges that JPEX used online celebrities for promotions. An unverified report suggests that Lin Zuo introduced investment “schemes” to a chat group, which led an individual, Miss Chen, to invest 100,000 Hong Kong dollars ($12,800) in crypto. Zuo has not publicly commented on the charges. Despite JPEX blaming regulators and third-party market makers for the liquidity issue, they promise to adjust withdrawal fees after resolving the crisis.

🎉 Bitcoin outpaces Visa in transaction volume

Bitcoin has surpassed Visa in annual transaction volume, signifying the growing prominence of decentralized networks.

While this is a milestone for Bitcoin, comparisons with centralized payment networks like Visa have nuances. Bitcoin's transaction volume can be inflated due to the inclusion of high-frequency transactions enabled by the Ordinals protocol. El Salvador's Bitcoin adoption highlighted potential challenges for decentralized payments, such as technical issues and public acceptance. Concurrently, Bitcoin's price showed resilience, stabilizing around $26,500, even as market watchers anticipate the U.S. Federal Reserve's interest rate decision.

🎢 Binance loses its CEO in the USA

The recent resignation of Brian Shroder, former CEO of Binance US, has stirred discussions within the cryptocurrency community.

The CEO of Binance responded by emphasizing Shroder's contributions and addressing the concerns surrounding other executive departures. CZ highlighted the changing regulatory landscape of the cryptocurrency market and the challenges Binance faces. In the wake of this, Norman Reed was appointed as the interim CEO of Binance US. Furthermore, Binance announced the end of its support for the BUSD stablecoin and plans to burn Binance-pegged tokens, following regulatory issues.

📜 Warren gets support for crypto clampdown bill

Nine U.S. Senators have expressed support for Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act.

Senators from the Democratic Party, such as Gary Peters, Dick Durbin, and others, along with independent Senator Angus King, have joined this bipartisan coalition. Senator Warren indicates that this bill represents Congress's most stringent attempt yet to regulate illicit cryptocurrency activities. Endorsed by various entities, including the National District Attorneys Association and the Major County Sheriffs of America, the bill aims to address the illicit use of digital money, potentially bridging a "$50 billion crypto tax gap."

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