Top Crypto Roundup: $320M lost in Q1, Binance’s AUS license revoked, Satoshi Turns 48, Doge/Twitter News: April 2–8, 2023
Attention, all crypto enthusiasts! It’s time for Melega’s Crypto Weekly Roundup, which keeps you at the forefront of the ever-evolving digital asset world. This week may have been quieter than usual, but don’t be fooled — we still have some mind-blowing news for you.
Bitcoin (BTC) is struggling in a spot, hovering around the $28k mark thanks to low trading volume and volatility. Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, has soared to an eight-month high of over $1,900 ahead of its highly anticipated Shanghai upgrade.
But that’s not all — we’ll also be delving into the juicy details of Binance losing its Australian Derivatives license, revealing the shocking amount lost in cryptocurrencies during the first quarter of 2023, and uncovering why Elon Musk temporarily changed Twitter’s logo to his beloved Dogecoin (DOGE), among others.
So sit back, relax, and get ready to be electrified by this week’s hot crypto news!
TOP STORIES THIS WEEK (APRIL 2–8 2023)
- Binance Australia’s derivatives license was revoked by the securities regulator
- Over $320 million in cryptocurrencies was stolen in the first quarter of 2023
- Satoshi Nakamoto “assumably” turns 48 on April 5
- Paxful shutdowns P2P marketplace operations
- MicroStrategy buys an additional 1,045 Bitcoin for $29.3 million
- Dogecoin (DOGE) surged as Elon Musk changed Twitter icon to the meme-coin
Binance Australia’s derivatives license was revoked by the securities regulator
The Australian Securities and Investments Commission stated Thursday (April 6) that the Binance exchange’s derivatives license was revoked at the cryptocurrency company’s own request.
From April 14, Australian customers of Binance who use derivatives cannot create new positions or grow their current ones. The regulator announced that Binance must close all open trading positions by April 21.
Moreover, Binance Australia maintained that its spot crypto exchange in Australia will continue operating, but it is “winding down” its derivatives product to “pursue a more focused approach.”
Over $320 million in cryptocurrencies was stolen in the first quarter of 2023
Over $320 million was lost (hacked) in the first quarter of 2023, according to a new report from the blockchain security company CertiK. This sum is still sizable even though it is considerably less than the $1.3 billion and $950 million losses in the first and fourth quarters of 2022, respectively.
Off-chain events, according to CertiK, might have contributed to the lower number of losses in Q1 2023. Issues with Silvergate Bank and the depegging of USD Coin (USDC), for instance, might have had a bigger effect on the cryptocurrency market. 90 exit scams cost over $31 million in losses, and 52 flash loan attacks cost over $222 million in losses, among others.
Satoshi Nakamoto “assumably” turns 48 on April 5
Satoshi Nakamoto, the iconic inventor of Bitcoin, turned 48 on April 5th, according to information provided to the international platform P2P Foundation when they registered.
However, cryptocurrency users had suggested that the date could be April 5, 1933, when the US government outlawed individual gold storage to support the US dollar, since Satoshi may represent a collective rather than a single person. Satoshi may have chosen this controversial date as his birthday on the P2P Foundation Web forum.
Satoshi Nakamoto’s true identity remains unknown, and the mystery surrounding their identity has only added to the intrigue and fascination with Bitcoin. Despite numerous attempts to uncover the true identity of Satoshi, it remains one of the most enduring mysteries in the world of cryptocurrency.
Paxful shutdowns P2P marketplace operations
The peer-to-peer Bitcoin exchange Paxful has announced its closure and given users instructions on how to withdraw their funds. Obviously, a number of individuals have been able to remove their assets from the exchange.
The sudden closure of Paxful was blamed on significant staff departures, legal disputes, and regulatory challenges for the industry, according to Ray Youssef, the company’s CEO.
Meanwhile, he quickly decided to stop the operations to ensure that users’ funds were safe, as there were no longer any engineers, members of the compliance team, or security staff working for the company.
MicroStrategy buys an additional 1,045 Bitcoin for $29.3 million
The Bitcoin-friendly business intelligence (BI) platform MicroStrategy has announced the purchase of an additional 1,045 bitcoins (BTC), bringing its total holdings to 140,000 BTC.
The company’s 140,000 total BTC were purchased for about $4.17 billion, or $29,803 per BTC on average. This is a significant achievement for the company, which continues to invest in bitcoin as a reserve asset. The CEO of the company, Michael Saylor, is an outspoken supporter of the world’s first digital currency.
Dogecoin (DOGE) surged as Elon Musk changed Twitter icon to the meme-coin
On April 3, Elon Musk’s Twitter changed its icon from a “blue-colored bird” to the popular meme token Dogecoin (DOGE) icon. As expected, Dogecoin’s price sharply increased in response to the news, rising by more than 22% to about $0.1.
The change came just two days after Elon Musk urged a US judge to dismiss the investors’ $258 million lawsuit. These investors alleged that Musk operated a Ponzi scheme to promote the price of DOGE, but Musk’s attorneys countered that tweeting inspiration and posting memes do not qualify as fraud.
Nevertheless, DOGE’s price declined to about $0.08 after its logo disappeared from the platform.
THIS WEEK ON MELEGASWAP
Kush Coin (KUSH) listed on Melega
Kush Coin (KUSH) is working to create a new decentralized cross-payment system to be used to buy medical cannabis products.
Baby Marco NFTs minting continues
The minting of the BabyMarco NFTs collection is currently running and available for users to collect. The first collection is limited to 1,000 pieces with 100% free royalties. It is characterized by rarity based on normal, RARE, SUPER RARE, or SUPER SUPER RARE pieces.
Ownership of the BabyMarco NFT will entitle holders to priority participation in BabyMarco’s airdrops and voting rights in the Melega DAO.
Visit this page to participate: https://melega.finance/nft
MelegaSwap partners with Baby Shiba AI (BABYSHIBAAI)
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Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
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