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FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

Top Stories This Week

FTX EU launches withdrawal website to pay back European users

The European arm of FTX has launched a website to allow customers in Europe to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. Meanwhile, in the United States, lawyers for former CEO Sam Bankman-Fried have entered a not-guilty plea for five additional charges, including accusations of bribery in China. On bail since being turned over to U.S. custody from the Bahamas, Bankman-Fried is now prohibited from using any smartphone with internet access as part of a new court agreement.

Tesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories on an open letter signed by more than 2,600 tech industry leaders and researchers calling for a temporary halt on any further artificial intelligence (AI) development. The petition shared concerns that AI with human-competitive intelligence can pose serious hazards to society and mankind. It urged all AI firms to “immediately cease” developing AI systems that are more potent than GPT-4 for at least six months. Although supported by many, the petition has divided the larger tech community over the halt of developments.

Binance and CZ sued by CFTC over US regulatory violations

A lawsuit has been filed by the U.S. Commodity Futures Trading Commission against Binance and its CEO, Changpeng “CZ” Zhao. Claims against the crypto exchange include failing to register with regulators, noncompliant trading, obscuring the location of its executive offices, and performing transactions for persons in the United States since 2019, despite a policy of blocking or restricting customers in the country. Binance’s CEO has rejected the allegations, arguing that the crypto exchange “does not trade for profit or ‘manipulate’ the market under any circumstances,” but primarily to cover expenses in fiat or other cryptocurrencies using its crypto revenue.

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Features

Guide to real-life crypto OGs you’d meet at a party (Part 2)


Market Analysis

FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

Top Stories This Week

FTX EU launches withdrawal website to pay back European users

The European arm of FTX has launched a website to allow customers in Europe to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. Meanwhile, in the United States, lawyers for former CEO Sam Bankman-Fried have entered a not-guilty plea for five additional charges, including accusations of bribery in China. On bail since being turned over to U.S. custody from the Bahamas, Bankman-Fried is now prohibited from using any smartphone with internet access as part of a new court agreement.

Tesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories on an open letter signed by more than 2,600 tech industry leaders and researchers calling for a temporary halt on any further artificial intelligence (AI) development. The petition shared concerns that AI with human-competitive intelligence can pose serious hazards to society and mankind. It urged all AI firms to “immediately cease” developing AI systems that are more potent than GPT-4 for at least six months. Although supported by many, the petition has divided the larger tech community over the halt of developments.

Binance and CZ sued by CFTC over US regulatory violations

A lawsuit has been filed by the U.S. Commodity Futures Trading Commission against Binance and its CEO, Changpeng “CZ” Zhao. Claims against the crypto exchange include failing to register with regulators, noncompliant trading, obscuring the location of its executive offices, and performing transactions for persons in the United States since 2019, despite a policy of blocking or restricting customers in the country. Binance’s CEO has rejected the allegations, arguing that the crypto exchange “does not trade for profit or ‘manipulate’ the market under any circumstances,” but primarily to cover expenses in fiat or other cryptocurrencies using its crypto revenue.

Read also

Features

Guide to real-life crypto OGs you’d meet at a party (Part 2)


Altcoins

FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

FTX Europe opens withdrawal for European customers, a petition seeks to halt AI development, and Binance is sued by U.S. authorities.

Bitcoin

FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

FTX Europe opens withdrawal for European customers, a petition seeks to halt AI development, and Binance is sued by U.S. authorities.

Blockchain

FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

FTX Europe opens withdrawal for European customers, a petition seeks to halt AI development, and Binance is sued by U.S. authorities.

Ethereum

FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

Top Stories This Week

FTX EU launches withdrawal website to pay back European users

The European arm of FTX has launched a website to allow customers in Europe to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. Meanwhile, in the United States, lawyers for former CEO Sam Bankman-Fried have entered a not-guilty plea for five additional charges, including accusations of bribery in China. On bail since being turned over to U.S. custody from the Bahamas, Bankman-Fried is now prohibited from using any smartphone with internet access as part of a new court agreement.

Tesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories on an open letter signed by more than 2,600 tech industry leaders and researchers calling for a temporary halt on any further artificial intelligence (AI) development. The petition shared concerns that AI with human-competitive intelligence can pose serious hazards to society and mankind. It urged all AI firms to “immediately cease” developing AI systems that are more potent than GPT-4 for at least six months. Although supported by many, the petition has divided the larger tech community over the halt of developments.

Binance and CZ sued by CFTC over US regulatory violations

A lawsuit has been filed by the U.S. Commodity Futures Trading Commission against Binance and its CEO, Changpeng “CZ” Zhao. Claims against the crypto exchange include failing to register with regulators, noncompliant trading, obscuring the location of its executive offices, and performing transactions for persons in the United States since 2019, despite a policy of blocking or restricting customers in the country. Binance’s CEO has rejected the allegations, arguing that the crypto exchange “does not trade for profit or ‘manipulate’ the market under any circumstances,” but primarily to cover expenses in fiat or other cryptocurrencies using its crypto revenue.

Read also

Features

Guide to real-life crypto OGs you’d meet at a party (Part 2)


Weekly Overview

Uniswap v3 code free to fork as BSL expires

The license expiration marks a significant event within the DeFi ecosystem, as it enables developers to deploy their own decentralized exchange (DEX).

Ethereum

Binance vs. CFTC: Latest court battle could alter crypto landscape in US

The CFTC lawsuit against Binance could prove to be the beginning of the end for the crypto exchange in the United States, according to many market pundits.

Regulations

More than 3600 Bitcoin ATMs went offline to record largest monthly decline

With 3,627 crypto ATMs going down last month, March 2023 becomes the month with the largest monthly decline of crypto ATMs.

Bitcoin

Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk

Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

Regulations

Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk

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A local court in South Korea denied the prosecutor’s request to issue an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin. This was the second attempt made by South Korean authorities to reign in Shin following the recent arrest of Do Kwon — Terra’s other co-founder.

Altcoins

El Salvador removes all taxes related to tech innovation for economic growth

Technology innovations such as software programming, coding, apps and AI development, and computing and communications hardware manufacturing will be exempted from taxes in El Salvador.

Bitcoin

Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

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Elon Musk and his lawyers reportedly requested a United States judge to dismiss the $258 billion lawsuit filed by investors who alleged that he operated a pyramid scheme to promote the cryptocurrency Dogecoin (DOGE).

According to an April 1 Reuters report, Elon Musk's lawyers referred to the lawsuit filed by Dogecoin investors, a “fanciful work of fiction,” in Manhattan's federal court on March 31.

Altcoins

Terra’s branding at MLB opener draws attention from spectators

An attendee shared an image of a Terra banner at Washington National Park with the slogan "a decentralized economy needs decentralized money."

Blockchain

Bermuda still open to crypto firms, says premier: Report

Bermuda's Edward Burt reportedly met with U.S. lawmakers and government officials this week in Washington, D.C. to discuss common standards for digital assets.

Regulations

Price analysis 3/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Signs of easing inflation could push Bitcoin and select altcoins above their respective overhead resistance levels in the short-term.

Ethereum

Price analysis 3/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Data from the Personal Consumption Expenditures (PCE) index showed an uptick of 0.3% in February, which lower than the 0.5% increase seen in January. Economists had projected a rise of 0.4% and the PCE data suggests that inflation is gradually showing a decreasing trend. 

Risky assets rallied in response to the data and some analysts expect the Federal Reserve to start cutting rates by the end of the year, The FedWatch Tool shows a 33% probability of a 50 basis point cut by December 2023.

The cryptocurrency space is trying to come out of a long bear phase. This has improved sentiment and analysts are focusing on the long-term prospects of cryptocurrencies and blockchain technology.

Daily cryptocurrency market performance. Source: Coin360

Citi said in its “Money, Tokens and Games” March report that the blockchain-based tokenization of real-world assets could soar to between $4 to $5 trillion by 2030. Although the lack of legal and regulatory framework, and the skepticism of industry players may pose a challenge in the short term, the investment bank believes they will be overcome eventually.

Could Bitcoin (BTC) and select altcoins extend their up-move or is it time for the rally to stall? Let’s study the charts of the top-10 cryptocurrencies to find out.

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Altcoins

Price analysis 3/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Signs of easing inflation could push Bitcoin and select altcoins above their respective overhead resistance levels in the short-term.

Bitcoin

Crypto exchange Bittrex to wind down operations in the US

The exchange shared that all customer funds are safe but advised its U.S. customers to withdraw their funds by April 30, 2023.

Blockchain

Central African Republic's Sango Project announces delay of token listing

The project has marketed Sango Coin to interested parties by offering pathways to CAR citizenship through investments.

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