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This is of course very ridiculous, but it seems to me that the issue here is not about justice, but about the hunt for Do Kwon’s money. A lenient sentence in both countries will only be given if he returns all the money to the budget of the country where the trial will take place.
And Montenegro is in no hurry to give the “golden antelope” to other countries
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But one question still remains - stablecoins can be issued from anywhere in the world. Not sure how the Bank of International settlement is planning to enforce it's regulations onto them.
It is not in the release, I can issue a stablecoin but to be linked to 1 USD. I need to create bank accounts, buy US treasury bonds and more assets that are easy to liquefy to support the stability of the coin. Stable cryptocurrencies can be backed by other assests and not USD like Luna, but we all knew what happened to them. For this reason, the US government can call banks to prevent opening bank accounts for stablecoins companies, and then it will be impossible to maintain a value of $1. You can provide stablecoins with other coins, such as Bitcoin, Litecoin, Dogecoin, but for such a project you will have to use inflated collateral and develop this product for many years. But it will be a completely decentralized stablecoin. Although it will be used by criminals and the developers will be accused of many serious crimes. |
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BSC-BEP20 is a lot cheaper than TRC20 in centralized exchanges, and it is way cheaper in your local wallets. Last time i checked, it was about 1 USDT for using the TRC20 network and 0.56 USDT for using the BEP20 network. Whichever works well, it is better than other networks such as the ETH and MainNet. If you would like other cheaper networks too, you can check the SOL, MATIC networks; they are cheap as well.
Binance Smart Chain is more adaptable with the transfer of assets between different ecosystems and L2 Ethereum solutions, and most decentralized ecosystems support stablecoins in this ecosystem. If you need to transfer assets from the Tron ecosystem, it will cost more. But in some places TRC20 is more popular as payments, and there it is more profitable to use the Tron ecosystem. |
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 K33 Research data I have long had a desire to collect statistics on where bitcoins are located in order to try to analyze further events in this market. I found a recent report from K33 Research that said there are 1 million Bitcoins in ETPs, ETFs and other funds. I would like to find data on how many bitcoins are currently on exchanges, how many have been confiscated by the authorities of different countries and other official data in order to understand how many bitcoins have known owners. There is also data on bitcoins lost forever, but we see that sometimes large wallets come back to life after 10 years. If someone has already done this before me, then share the result so that I don’t have to start everything from the very beginning |
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If I were the president of the country, I would not legalize Bitcoin. There is a very high risk of potential scam here. The first miners and users received bitcoins for a very small amount, and now one bitcoin costs more than $60,000.
If El Salvador now has unrealized profits, this does not mean that these profits will last forever. Prices are also falling.
I agree they as in the top brass or the elites who are only 10% will easily corrupt the miners or the financial advisors to get control over Bitcoin. The present government is full of corrupt leaders and they are again in power because of the backdoor Army control. You would not believe it the Army produces everything and is the biggest infrastructure developer in Pakistan. EL-Salvador is a country that was the one to adopt Bitcoin as a legal tender. That was in the year 2021 when Bitcoin created a new ATH, till now they survived and improved their economy because their President was a visionary. Assuming they bought Bitcoin when it was in its ATH, last night Bitcoin reached that price point and with the current market condition it is going to create a new ATH in a few days. What will you have to say then about Bitcoin with spot ETF money coming in Bitcoin is going to create some huge ATH. I am a poor communicator on the situation in Pakistan. But I understand a little about economics. The very first thing I tell everyone is the words of Warren Buffett: “Bitcoin will cost 0.” And this must be understood correctly. Nobody knows when this bubble will burst, in a year or in 10-100 years, but it will burst. For the USA and Europe, this is a very small market, and a collapse in the crypto market will not greatly affect their economy, but for small countries this can be a very fatal mistake. |
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The document is small and worth reading. And in practice, such recommendations will soon become mandatory. And stablecoins will have the same requirements as international currencies, which means total KYC and all other delights.
If a broad regulatory framework is established for cryptocurrencies, I do not think that we will need stablecoins, as it will be easy to create a bank account in dollars and buy Bitcoin directly from banks. I do not think we will be allowed to withdraw Bitcoin, but it will be the next step after extensive regulation. If this broad regulation does not happen, then most likely stablecoins will be regulated such that you need KYC to create a wallet, but due to the inability to regulate DAI, these steps will not change the non-KYC stablecoin option. I store most stablecoins in DAI, but I don't like this picture at all. Previously, DAI had a lot of stablecoins in the collateral and they were heavily dependent on USDC, but now there are a lot of RWA (Real-World Asset) in the collateral. This is also bad. But one question still remains - stablecoins can be issued from anywhere in the world. Not sure how the Bank of International settlement is planning to enforce it's regulations onto them.
Unfortunately, this issue has not yet been resolved, how to make an ideal stablecoin, independent of regulators, and so that there are no problems with trust. Any algorithmic stablecoin requires excessive collateral, and even for DAI this figure is more than 300%. We all want decentralization, but no one uses the Ethereum Classic ecosystem, and it is almost dead. The same will happen with other stablecoins. |
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It is like a joke from Nigerian government as their macroeconomics is their national problems that cause the decrease of purchasing power of Naira, not Bitcoin or Binance is the cause. Their Naira rate to US dollar drops from 0.0068 in March 2009 to 0.00064 in March 2024, it is not caused by Binance. What is this? The Nigerian government thinks that if CZ paid 4 billion to the US government, then it will agree to pay Nigeria?
They are too naive to think that Binance and CZ will accept this case. CZ already stepped down as Binance CEO months ago but Binance have no solid reason to accept this request and they even don't negotiate with it. It can be a precedent case for other nations to arbitrarily suit Binance and ask for money. If Nigerian government succeeds with Binance, they will do the same with other exchanges. Good opportunity for them to get money. Binance operates in many countries through lobbying. To accuse Binance and collect a large fine from it, you will have to go to an international court, where Binance has much more experience. I see the experience of different exchanges when it is not profitable for them to obtain licenses in many countries, because this requires an office in this country and the necessary number of staff. |
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 Вы ошиблись локалом, я как русский не могу на такое донатить и этому способствовать. |
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https://cointelegraph.com/news/sec-delays-ethereum-etf-applications-blackrock-fidelity"SEC pushes back BlackRock, Fidelity spot Ethereum ETF proposals The SEC has again delayed its decision on spot Ethereum ETF applications from BlackRock and Fidelity as analysts continue to tip May as the month to watch." ___ I have no doubt that BlackRock and Fidelity will achieve their goals. But I have big doubts about other cryptocurrencies and the SEC will severely punish other large projects.
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https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-600-million-of-convertible-senior-notes_03-04-2024"March 4, 2024 — MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announced that it intends to offer, subject to market conditions and other factors, $600 million aggregate principal amount of convertible senior notes due 2030 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $90 million aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be noassurance as to whether, when or on what terms the offering may be completed." __ Guys, you must agree that such euphoria cannot last long.
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https://www.bbc.com/pidgin/articles/c25817r8wk8oNigeria goment demand $10 billion in damages from Binance "Dis na sake of di allegations say di cryptocurrency platform dey cause massive losses for di kontri becos dem dey fix exchange rate. Di goment say Binance don influence di increase in foreign exchange rates through how dem dey speculate di currency for di kontri wey don make di Naira fall by almost 70% in recent months. Bayo Onanuga, one of di tok tok pesin for president Bola Tinubu say goment bin see di effect of Binance operations for Nigeria. “Di platform dey fix di exchange rate for di kontri and na illegal rate. Di CBN na di only authority wey fit fix exchange rate for di kontri.”" ___ What is this? The Nigerian government thinks that if CZ paid 4 billion to the US government, then it will agree to pay Nigeria?
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https://www.theblock.co/post/280063/bis-regulatory-recommendations-stablecoin-arrangementsThe Bank for International Settlements has issued recommendations for the regulation, supervision and oversight of global stablecoin arrangements. "The Bank for International Settlements has proposed recommendations for regulating global stablecoins. In a summary of recommendations issued on Thursday, the BIS described GSCs as widely adopted stablecoins with a potential reach and use across multiple jurisdictions. "A GSC could become systemically important in and across one or many jurisdictions," the BIS said. " https://www.bis.org/fsi/fsisummaries//global_stablecoins.pdf___ The document is small and worth reading. And in practice, such recommendations will soon become mandatory. And stablecoins will have the same requirements as international currencies, which means total KYC and all other delights.
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https://coinpedia.org/news/unraveling-allegations-of-ripples-xrp-price-surge-using-bot-manipulation-claims/Ripple Hit with Bot Manipulation Claims, But XRP Price Unfazed "Ripple faces new accusations of using bots to manipulate XRP prices in 2015 and 2016, according to court documents. Despite the lawsuit and bot allegations, XRP's price continues to rise, reaching $0.58 and potentially aiming for $0.64. Technical indicators suggest continued growth for XRP, but experts advise caution." ____ I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
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No. Countries like Pakistan, if they want to get out of the hole, have to start by spending less than they earn. Exactly the same thing happens as in a family or a company, not expecting a magical investment to get you out of trouble. The value of the bitcoins purchased by El Salvador is $150M and the GDP is around $34 billion, meaning that the price increase, although not go bad, will not have a very significant impact. For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy.
Well, unless you become famous for making Bitcoin legal and attract investment for it, as has happened in El Salvador, that does help develop the economy. But you're right that just buying Bitcoin doesn't. If I were the president of the country, I would not legalize Bitcoin. There is a very high risk of potential scam here. The first miners and users received bitcoins for a very small amount, and now one bitcoin costs more than $60,000. If El Salvador now has unrealized profits, this does not mean that these profits will last forever. Prices are also falling. |
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..snip
Are you really saying this so easily or is it just me? In my opinion, CZ has already paid a very high price and his fate has not yet been decided. There is no point in putting CZ in jail if he paid a large fine and signed all the agreements with the US government. I was only speculating and I speculate that CZ's payment in exchange for a short time in prison for some charges but no charges of being a terrorist might have been part of the deal in the settlement. Also, you tell me that I can say this easily, however, you say that the American government would easily make CZ a terrorist without due process. I reckon it would be more difficult for CZ and the government if they went to court for this. Personally, I have no doubt that CZ violated many American laws and would have no chance of winning in court. But if you use all due process against CZ, you'll have a lot of dirty laundry to unearth, and the US government probably isn't interested. The latest major cryptocurrency cases tell us that the US government makes deals with lawbreakers if they pay huge fines. |
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In Korea, Do Kwon will most likely receive life imprisonment upon sentencing. In the USA, he could receive 10-20 years in prison, depending on the work of his lawyers and successful cooperation with the US authorities. But Do Kwon also has more money than Montenegro’s budget for the year, so Montenegro does not want to give up such a valuable criminal.
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https://unchainedcrypto.com/ordizk-team-allegedly-steals-1-4-million-in-exit-scam/"Команда OrdiZK предположительно украла 1,4 миллиона долларов в результате мошенничества с выходом OrdiZK, недавно запущенный мост между Биткойном и Эфириумом, использующий доказательства с нулевым разглашением, был обвинен в мошенничестве с выходом. В сообщении X от 4 марта компания CertiK, занимающаяся безопасностью блокчейнов, предупредила пользователей о том, что учетная запись развертывателя протокола сбросила значительное количество собственного токена OZK на децентрализованные биржи, заработав на продажах 1 миллион долларов. В результате продажи токенов цена OZK упала на 99% за считанные минуты. "
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"SEC: Ripple использовала торговых ботов для манипулирования ценой XRP Комиссия по ценным бумагам и биржам США (SEC) предполагает, что компания Ripple использовала торговых ботов от GSR Markets для фальсификации торговой активности и поддержания курса XRP. SEC направила в судебные органы заявление о том, что компания Ripple систематически использовала торговых ботов, например, XRP 2t 6t, для проведения обезличенных транзакций, чтобы искусственно предотвратить значительное снижение либо способствовать росту рыночной цены XRP." Подробнее на Bits.media: https://bits.media/sec-ripple-ispolzovala-torgovykh-botov-dlya-manipulirovaniya-tsenoy-xrp/ |
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