Crypto Guides, Knowledge & Insights

Reclusive Binance co-founder Yi He speaks on SEC case

Yi He is a co-founder and major shareholder at Binance and has a close relationship with CEO Changpeng Zhao. Famous for keeping a low profile, she has broken her silence in an interview with Bloomberg.　　Binance‘s famously private co-founder and CMO, Yi He, commented on the company’s regulatory standing in an interview published by Bloomberg on June 28.　　Yi He discusses regulations　　In several interviews, Yi He commented on regulatory challenges, noting:　　“If [regulators] really took the time to understand our industry, they would see that if Binance isnt compliant, then practically no other global trading platform or offshore company is.”　　She stated that Binance respects regulators regardless of whether they support or oppose cryptocurrency development. She acknowledged that regulations, in general, are meant to protect investors and said that regulations are “inevitable globally.”　　Bloomberg emphasized Yi Hes close relationship with Binance CEO Changpeng Zhao, disclosing that the two have a roommate-like relationship and have children together. Interviewers noted that this could raise a conflict of interest within the company leadership, but Yi He emphasized that she and Zhao lead separate parts of the company.　　Yi He notably leads the Binance team that decides which crypto tokens Binance lists, a group that Bloomberg called “so secretive that

2023-06-29Deep Dive

Amid The Uproar Over The New Collection, Azuki NFT Hosts An AMA On Discord

Azuki NFT plans to hold an AMA event in Discord tomorrow with the participation of 2 other co-founders.　　Azuki Elementals NFT Mint sold out less than 15 minutes after launch with the reveal of a new airdrop.　　However, there have been many criticisms about Azuki Elementals being too close to the original collection, creating a rift in the NFT space.　　ZAGABOND.ETH, the co-founder of the Azuki NFT, announced on Twitter that the team will join the Azuki Discord at 18:00 PT on June 29. An AMA event will be held, when ZAGABOND will be joining the Azuki Discord.ETH will join two other co-authors of the project.　　According to the news yesterday, after Azukis sale of Elemental caused controversy, Azuki announced that they would make further statements and plans regarding Elementals.　　Some community members have discovered that the contract address Elemental Beans has launched a new contract called Green Bean. Azukis official Twitter suggests that they will broadcast the “Green Bean” NFT to holders.　　Introducing a new contract by “Green Bean” has sparked speculation about a potential connection to the Elementals collection. The community eagerly awaits further updates from Azuki.　　The project announced yesterday that it had achieved tremendous success with releasing its latest NFT expansion, Azuki “Elementals”.

2023-06-29Deep Dive

Azuki Admits Failure with “Elementals” Mint Amid Backlash

Chiru Labs the company responsible for Azukis NFTs debuts new NFT collection “Elementals” that sold out in 15 minutes, netting $38M.　　Complaints roll in, alleging that its too similar to the original Azuki collection.　　Azuki admits fault and acknowledges that “the [profile picture NFTs] feel similar and, even worse, dilutive to Azuki”.　　Chiru Labs, the company responsible for Azukis NFTs, unveiled a new collection called “Elementals”.　　The collection was so popular that it sold out in just fifteen minutes, netting the company a whopping $38 million. The virtual shelves were emptied so fast that the digital assets didnt even get a chance to go to a public sale. Only prior holders of Azukis and the BEANZ collection who put down a deposit of 2 ETH were able to purchase the NFTs.　　However, not everyone was happy with the new collection. Shortly after its release, community members began to complain that the Elementals collection was too similar to the original January 2022 Azuki collection. Both collections feature characters looking to the left, and one user even joked that the next batch of Azuki NFTs would have them facing to the right.　　Another user alleged that Azuki‘s latest move has done significant damage to the main collection. According

2023-06-29Deep Dive

Shocking: Azuki Elementals’ Floor Price Collapses To 1.65 ETH!

Azuki Elementals NFT series experienced a setback as its floor price plummeted, sparking NFT community discussions.　　Notable buyers invested millions in Azuki Elementals, reflecting ongoing interest in NFTs as digital asset investment.　　Despite the decline in price and admission of failure, Azuki still generated a substantial revenue of $37 million.　　Azuki Elementals NFT series has experienced a significant setback as its floor price plummeted to 1.65 ETH, falling below the initial issue price of 2 ETH.　　The entire Azuki brand NFT series witnessed a sharp decline, with the floor price dropping to 10 ETH, marking a staggering 24-hour decrease of 31%. This disappointing turn of events has raised concerns within the digital collectibles community.　　One of Azukis co-founders acknowledged the failure of the minting experience, stating that it did not meet the expected standard. This admission highlights the challenges faced by the team in delivering a satisfactory user experience and meeting the high expectations of collectors and investors.　　Despite the decline in prices and the admission of failure, the Azuki official team (0x3A…6305) managed to generate substantial revenue through the sale of Azuki Elementals. They received 20,000 ETH, which amounts to approximately $37 million. Shortly after, the funds were transferred to the Azuki team‘s multi-signature address

2023-06-28Deep Dive

Beware Manta Network’s Twitter Hacked, Spreading Fake Airdrop

The Manta Network project announced that the official Twitter account had been hacked.　　The attacker took advantage to notify users of a fake airdrop with Binance Labs.　　The project commented on the post announcing the hack and advised users not to click on any links.　　The ZK Layer 1 project invested by Binance Labs Manta Network announced that their official account had been hacked and announced a fraudulent airdrop.　　This morning, the Manta Network project announced an ongoing airdrop in cooperation with Binance Labs on its official Twitter account and asked users that the $MANTA token is launching today and is currently FREE to claim.　　“A month ago, we launched the NPO it provides private on-chain verification. We are now including FREE $MANTA token with every mint even if you have already minted!”Fake announcement sharing.　　However, right below the comment section of the article, many warnings were being given that Mantas account was compromised, there was no airdrop going on, and asked users not to click on any link.　　Only in the first 2 months of 2023, the Crypto market has become extremely exciting when continuously receiving strong growth from tokens according to AI, LSD, and the upcoming ZK narrative. Manta Network is also one of the

2023-06-28Deep Dive

Whales Shock Crypto Market With $PEPE and $ETH Swap

A whale withdrew 1.93T $PEPE from Binance, sold $LINK and $BNB, and swapped positions for $PEPE and $ETH.　　Such large transactions can impact the market but can be influenced by personal investment strategies and market conditions.　　The move to acquire a significant amount of $PEPE tokens suggests potential in this cryptocurrency and a calculated investment strategy with certain risks.　　Whales made a substantial withdrawal of 1.93 trillion $PEPE tokens, equivalent to approximately $3.03 million, from the popular exchange Binance.　　The transaction occurred approximately 11 hours ago, catching the attention of the crypto community.　　The whales not only withdrew $PEPE but also executed several trades involving other cryptocurrencies. The whale sold 97,735 $LINK tokens, valued at around $592,000, and 9,883 $BNB tokens, amounting to approximately $3.01 million. These sales resulted in a loss of approximately $342,000 for the whale.　　Following the sale of $LINK and $BNB, the whale made a strategic move by swapping all their positions for 1.93 trillion $PEPE tokens and 227 $ETH tokens, valued at around $424,000. This swap represents a significant shift in the whales portfolio and suggests their interest in diversifying holdings and exploring alternative investments.　　Such large-scale transactions by whales often attract attention due to their potential impact on the market. However,

2023-06-28Deep Dive

Caution: Delio Resumes Deposits And Withdrawals, But Users Are Suspicious

Delio, a South Korean cryptocurrency depository service, has resumed deposits and withdrawals of certain coins related to staking services.　　The recovery of damage is limited since the major coins linked to Haru Invest, which were identified as the source of the deposit and withdrawal restriction, have been omitted.　　Withdrawals for “Parking Account” coins have been stopped, and it remains to be seen how the situation with Haru Invest will be resolved.　　Delio, a South Korean cryptocurrency depository service, has begun depositing and withdrawing certain coins.　　According to Blockmedia, Delio declared on its webpage the day before that deposits and withdrawals of virtual assets connected to staking services, which had been halted on the 14th, would be resumed.　　Nevertheless, the recovery of damage is limited since the significant coins linked to Haru Invest, which were identified as the source of the deposit and withdrawal restriction, was omitted.　　Cardano (ADA), Solana (SOL), Tezos (XTZ), Polkadot (DOT), Kusama (KSM), and Near (NEAR) are the resuming targets (NEAR). The deposit and withdrawal deadline is June 28 at 12:00 p.m.　　Delio investors who had been waiting for the restoration of deposits and withdrawals were pleased. This is due to the fact that all of the coins provided by the firm in 12

2023-06-27Deep Dive

TRX Price Rebounds: Is $0.085 Within Reach Again?

TRX price increases above $0.0675 level against the US Dollar, similar to Bitcoin and Ethereum.　　TRX climbed above $0.070 resistance and the 100 simple moving average (4 hours).　　TRON price is now trading above $0.072 with the next major resistance near the $0.0800 level.　　TRX has experienced a notable increase, surpassing the $0.0675 level against the US Dollar, which is similar to what we have witnessed with Bitcoin and Ethereum.　　As a matter of fact, TRX has climbed above the $0.070 resistance and the 100 simple moving average (4 hours).　　This increase in Trons value can be attributed to several factors. Firstly, there was a clear movement above the 23.6% Fib retracement level of the key decline from the $0.0849 swing high to the $0.0646 low. Additionally, there was a break above a key bearish trend line with resistance near $0.0735 on the 4-hour chart of the TRX/USD pair. This indicates that there is a growing interest among investors in Tron.　　TRONs value is trading above $0.072 and the 100 simple moving average (4 hours). It is predicted that the value of Tron will continue to rise in the short term, with an initial resistance seen near the $0.0750 zone. This resistance is close to the

2023-06-27Deep Dive

Damus Founder Banned From Apple App Store: Crypto Investors Beware!

Decentralized social media app Damus threatened with delisting by Apple over “zaps” feature.　　Users can send small amounts of BTC over the Lightning Network to content creators.　　Apple wanted the zap button removed from all content sections, leading to criticism from users and former Twitter CEO Jack Dorsey.　　Damus is a decentralized social media platform that runs on the Nostr protocol, which is quite popular with bitcoiners.　　One of the reasons for its popularity is that most implementations of Nostr support payments over the blockchain‘s Lightning Network. Lightning is Bitcoin’s second layer payment network that enables faster transactions and lower transaction fees.　　The Damus app was launched in the App Store earlier this year, but it faced a threat of delisting on June 13. The reason behind this threat was the “zaps” feature of the app, which allows users to send small amounts of bitcoin over the Lightning Network to tip their favorite content creators. This feature is similar to Twitters “tip” feature. Apple deemed this feature to be a violation of its App Store Review Guidelines 3.1.1 and 3.2.1 (vii).　　According to Apple, the zap button should be removed from all “notes” or content sections as this is equivalent to selling digital content. However, it

2023-06-27Deep Dive

Binance.US Solves USD Withdrawal Problems but Warns that Solution Is Only Temporary

Binance.US withdrawals are now fully operational on the exchange, even as it warns users to convert all USD to USDT.　　Binance.US has announced that users can now resume USD withdrawal, as it has solved the problem. The US arm of the worlds largest crypto agency also said that by working with banking partners, it has almost completely resolved all previously delayed withdrawal requests for USD. However, the exchange warns that this resolution may not be permanent.　　In an official announcement, Binance.US noted that its systems are fully operational and that users with failed requests can begin to resubmit. The exchange then assured that all requests would be successful within the usual maximum time frame of five business days. Nonetheless, Binance.US advises users to quickly switch to stablecoins.　　Binance Suspended USD Withdrawals after SEC Lawsuit　　Earlier in the month, Binance.US suspended USD deposits, noting at the time that banking partners were also preparing to suspend withdrawals. The move came shortly after the United States Securities and Exchange Commission (SEC) sued Binance for violating securities laws, commingling investor funds, misleading customers, and allowing “high-value US customers” to trade outside Binance.US. The companys US arm was launched as an independent company designed to follow US securities and

2023-06-26Deep Dive

...

103105

...

736