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Thaler Sued, FBI Warns of DeFi Exploit, Crypto.com Withdraws $495 Million Sponsorship: Hodler’s Digest, Aug 28

come every saturday Hodler’s Digest helps you keep track of all the important news stories that happened this week. He summarizes his week on Cointelegraph, including the best (and worst) estimates, adoption and regulation highlights, major coins, and predictions in one link.

Top news of the week

DC Attorney General Sues Michael Thaler and MicroStrategy for Tax Evasion

MicroStrategy co-founder Michael Saylor is accused of evading US income taxes while living in Washington, DC. The office of regional attorney general Karl Racine has sued Saylor and he against MicroStrategy, alleging that the company helped him avoid more than $25 million in his DC income taxes. The charges stem in part from his amendments to DC’s False Claims Act to encourage whistleblowers to report tax evasion, and Thaler said he could be fined $75 million. means

Crypto.com Withdraws $495 Million Sponsorship Deal With UEFA Champions League: Report

Crypto.com has decided not to enter into a $495 million sponsorship deal due to potential regulatory issues. Due to a sponsorship deal with the Union of European Football Associations (UEFA), Crypto.com was promoted in his UEFA Champions League for five seasons. The cryptocurrency exchange was reportedly in negotiations for sponsorship after the Champions League dropped Russian state-owned energy company Gazprom from its sponsorship.Crypto.com stars American actor Matt Damon We have already done some high-profile advertising campaigns, such as commercials.

Indonesia plans to set up a cryptocurrency exchange by the end of 2022

Indonesia could have a cryptocurrency exchange, also known as a cryptocurrency exchange, built by the government before 2023 arrives. First announced in late 2021, the cryptocurrency exchange has taken longer than expected to complete, but the government is aiming to get things right rather than rushing to launch. , procedures and necessary measures are in place,” Jerry Sambuaga, Indonesia’s deputy trade minister, told DealStreetAsia.

Tether demands Roche Freedman kicked out of class action lawsuit

Tether and Bitfinex are still in dispute over the USDT stablecoin, which started in 2019, was used to manipulate the cryptocurrency market. The legal teams of Tether and Bitfinex are seeking relief from the plaintiffs’ attorneys, law firm Roche Freedman, for their involvement with Kyle Roche. Harm Ava Labs competitors in exchange for AVAX tokens. Kyle Roche recently resigned from multiple lawsuits involving the defendant, Bitfinex and Tether. However, in addition to requiring Roche Freedman to destroy or return the personal information, defendants still want Roche Freedman to be completely excluded from the action.

Central African Republic Court Says New $60,000 Crypto Investment Citizenship Program Is Unconstitutional

In July, the Central African Republic (CAR) launched a Sango hub. This is a new crypto-focused initiative aimed at increasing Bitcoin adoption and creating a special economic zone in the Metaverse. The initiative also includes the creation of a bitcoin-backed digital asset called Sango, which will also allow foreigners to buy citizenship of the country with his $60,000 cryptocurrency and a similar amount of his He could also hold Sango tokens as collateral for his five years. However, the CAR’s Constitutional Court deemed the attempt unconstitutional, noting that citizenship has no price tag.

winner and loser

Bitcoin for the weekend (Bitcoin) is $20,369,ether (ethereum) and $1,636 When XRP and $0.33The total market capitalization is $1.00 trillion, according to Go to Coin Market Cap.

Among the 100 largest cryptocurrencies, this week’s top 3 altcoin risers are Celsius (cell) 36.41%, Ecash (XEC) 20.70% and Lido DAO (I will do it) at 18.05%.

Helium Is This Week’s Top 3 Altcoin Loser (HNT) -24.47%, Avalanche (Avax) -10.41% with Arweave (AR) -9.92%.

For more information on crypto prices, be sure to read Cointelegraph’s market analysis.

most memorable quotes

“Creating something new is not for the faint of heart.”

Neil DundonFounder of CryptoRecruit

“Ethereum is about permissionless innovation, free enterprise, property rights and globalization.”

Ryan Berkmansa member of the Ethereum community

“We ultimately came to Coinbase’s idea that we have to stay agnostic with every chain and token that comes out. .”

Brian ArmstrongCEO of Coinbase

“I feel like [crypto] Must not be partisan. ”

Tom EmmerUS Congressman

“Most of cryptocurrency is still junk in reality, which means that, apart from a few dozen tokens, everything else mentioned is noise or, frankly, just disappears. ”

Umar FaroukHead of Onyx, JP Morgan’s Digital Assets Division

“Cryptocurrencies have taken on a life of their own outside of distributed ledgers. This is the source of the problems in the crypto world.”

Ravi MenonManaging Director, Singapore Monetary Authority

Forecast for the week

Bitcoin’s Pressure To $23,000 Still Open As Crypto Market Cap Holds Critical Support

According to Cointelegraph’s BTC Price Index, Bitcoin has been unable to determine whether it was above or below $20,000 for most of this week, trading north and south of the levels multiple times.

In Friday’s tweet, a pseudonymous Twitter user Il Capo of Crypto Note that a short squeeze can occur if BTC crosses the $20,700 to $20,800 price range. Bitcoin can hit between $22,500 and $23,000 before breaking this level. Conversely, a break below $19,500 could pressure him off the table, especially if assets continue below $19,000.

FUD of the week

FBI warns against cybercriminal exploits targeting DeFi

This week, a public service announcement from the U.S. Federal Bureau of Investigation (FBI) warned the public about the proliferation of decentralized finance (DeFi) exploits and said anyone interested in DeFi should be careful. The agency also noted that DeFi platforms should conduct code audits to check for vulnerabilities. Combining 2020 and 2021 totals, malicious actors have so far made more than $1.6 billion in 2022 via DeFi exploits, according to data from blockchain security firm CertiK. stole the

‘Crypto Queen’ Ruja Ignatova’s Accomplices Face Extradition to US: Report

Ruja Ignatova’s alleged accomplice, British citizen Christopher Hamilton, was able to see extradition to the United States thanks to a ruling from a British judge. However, the move is subject to approval from the UK government executive branch. Hamilton was allegedly involved in his $4 billion OneCoin Ponzi scheme related to Ruja Ignatova, known as the “Crypto Queen.” in June, FBI added Ignatova On the list of the ten most popular fugitives. The charges against Hamilton include $105 million in money laundering related to the Ponzi scheme.

Sneaky Fake Google Translate App Installs Crypto Miner on 112,000 PCs

The cryptocurrency and technology sector is often plagued by technology traps and scams. One particular effort underway since 2019 is particularly tricky. A particular type of malware named “Nitrokod” is hidden in a counterfeit computer app and a few days later he starts mining Monero (XMR). The malware hides in convincing versions of fake apps, such as the Google Translate app, which boasts many positive reviews online. However, although there is no official Google Translate desktop app, this malware-infected app made it to the top of search results. The Nitrokod malware has affected over 100,000 of his devices across almost 10 countries.

Best Features of Cointelegraph

Billions of Dollars Are Spent Marketing Cryptocurrencies To Sports Fans — Is It Worth It?

“Without explicit use cases related to the huge sums paid for sports marketing sponsorships, branding will only lead to logo exposure.”

Get ready for the federal government to start prosecuting NFT traders

Securities and Exchange Commission regulators should act to protect investors from traders who distort the NFT market with manipulative trading.

Why Interoperability Is Key to Adoption of Blockchain Technology

Interoperability allows blockchain networks and protocols to communicate with each other, making it easier for everyday users to participate in blockchain technology.

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