Telo News - Crypto | DeFi | Web3

Coinbase and its CEO Brian Armstrong face a new class-action lawsuit alleging investor deception into buying securities. It alleges that Coinbase admitted in its user agreement that it was a securities broker, but offered SOL, MATIC, NEAR, MANA, ALGO, UNI, XTZ, and XLM as illegal securities. ▪ Telegram ▪ X ▪ Community ▪ Source

Grayscale's GBTC reportedly saw a daily BTC inflow of $63.1m, marking its first inflow since converting to an ETF. ▪ Telegram ▪ X ▪ Community ▪ Source

Alexander Vinnik pleaded guilty to laundering over $9bn through BTC-e, a cryptocurrency exchange he operated from 2011 to 2017. Lacking proper anti-money laundering controls, BTC-e was shut down in 2017. ▪ Telegram ▪ X ▪ Community ▪ Source

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Bitcoin leaped over $61,000 in the hour that followed the release of a US employment report, showing unemployment is higher than expected. ▪ Telegram ▪ X ▪ Community ▪ Source

USDt-TON reached $100m in issued and circulating USDt in under two weeks, making it the fastest growing launch of Tether’s USDt in history. ▪ Telegram ▪ X ▪ Community ▪ Source

Russian crypto exchange Beribit has introduced a rigorous compliance process for customers with frozen funds, mandating them to verify the source and legality of their funds. Such measures might seem like standard KYC and AML procedures, but many speculate that Beribit is using a common exit scam tactic by suddenly imposing complex verification requirements to stall customer withdrawals. ▪ Telegram ▪ X ▪ Community ▪ Source

ChainFeeds founder Pan Zhixiong outlined the "impossible triangle" for new token launches in 2024, noting it's unfeasible to achieve simultaneously: ⚫ Binance listing ⚫ Low valuation ⚫ Short cliff That is related to the fact that almost any project listed on Binance will have high valuation, but might have a short cliff. On the contrary, projects that satisfy the other two criteria, are unlikely to be listed on Binance. ▪ Telegram ▪ X ▪ Community ▪ Source

A man involved in ZKasino scam that stole over $30m from users was arrested by the police in Netherlands. Authorities seized over 11m euros ($11.8m) in crypto. ▪ Telegram ▪ X ▪ Community ▪ Source

According to the recent data: ⚫️Buying enthusiasm for Bitcoin has decreased, as shown by negative Coinbase premiums and reduced leverage in futures positions ⚫️Growth in Bitcoin demand from large investors or whales has slowed, peaking at 12% in late March and now at 6% ⚫️Significant sell-offs by miners have increased supply, weakening price support ⚫️Recent price drop is due to traders opening short positions, anticipating further declines ⚫️Overall BTC balance on over-the-counter platforms has started to rise, reaching its highest level since November 2022 ▪ Telegram ▪ X ▪ Community ▪ Source