Israeli police freeze Hamas crypto accounts

THIS NEWSLETTER IS BROUGHT TO YOU BY

Jump into My Neighbor Alice's Alpha Season 3. Play & stand a chance to collect rare NFTs. Excitement & rewards await everyone! Find out how you can play My Neighbor Alice and access its Marketplace here.

🪙 Securities Regulators Oppose Special Treatment of Crypto

The North American Securities Administrators Association (NASAA) has supported the U.S. SEC in its legal case against Coinbase.

In a recent court filing, NASAA emphasized that digital assets should not receive special treatment under securities laws. Earlier this year, the SEC accused Coinbase of violating federal securities laws, a claim which Coinbase contested. A key point in the lawsuit hinges on the Howey test, used to identify what constitutes an investment contract. NASAA's general counsel, Vincente Martinez, stressed that digital assets aren't "somehow special" and shouldn't be exempt from existing legal frameworks.

🌪️ Alameda Took FTX Money for “Whatever We Needed”

The former CEO of Alameda Research testified in court about Alameda's risky financial activities in 2022.

Caroline Ellison admitted to her lack of qualification for the CEO role and revealed that Alameda had issued over $5 billion in personal loans to key individuals, including Bankman-Fried. Her analysis had shown a high likelihood of Alameda failing to meet its liabilities under specific market conditions. Despite this, Bankman-Fried persisted with a $3 billion investment. Ellison, having pleaded guilty to fraud and conspiracy, is now cooperating with the US government, highlighting Bankman-Fried's directive role in these illicit activities.

🐳 Dogecoin Sees Decline in Whale Activity and Transactions

Recent data from IntoTheBlock has highlighted a concerning decline in Dogecoin whale transactions and daily transactions, pointing to reduced interest from big investors.

Simultaneously, a heated debate regarding the intrinsic value of cryptocurrencies has reignited, spurred by a conversation between Dogecoin's co-creator, Billy Markus, and Elon Musk. This discussion follows the U.S. SEC's claim that digital currencies lack inherent value. Amidst this, the SEC continues its legal battles with both Coinbase over the classification of cryptocurrencies as securities and Elon Musk over Twitter stock acquisition.

🔥 SHIB Developer’s Bullish Statement Ignites Surge in On-Chain Metrics

In a recent surge of commitment, the Shiba Inu community substantially reduced the circulating supply of SHIB meme coins by transferring 45,379,403 SHIB tokens to dormant wallets within a 24-hour span.

This led to a burn rate increase of over 100%. The community's efforts were backed by bullish sentiments from SHIB's lead developer, Shytoshi Kusama. Alongside, Shibarium, Kusama's new project, has been successfully reaching its milestones. Concurrently, SHIB saw a 353% rise in large on-chain transactions, with a parallel increase in whale activity, highlighting a potential shift in the Shiba Inu ecosystem.

Meme of the week