Crypto News Highlight:
This week has been a very eventful week in the crypto market as we bring to you crypto news reports that transpired over the week, sit back, grab a bottle of chilled juice, and enjoy your read. The highlight of our crypto news highlight is the integration of the USDT transfers into the social platform telegram. But before that, our first crypto news highlight is the recent downtime on finance spot trading, which they announced earlier today.
Binance temporarily suspends Spot Trading.
Binance, the renowned cryptocurrency exchange, has temporarily halted its spot trading services. The decision comes after the exchange identified an issue that has affected the normal functioning of spot trading on its platform.
The exchange’s technical team is currently working tirelessly to fix the issue and restore normalcy as quickly as possible. The temporary suspension of spot trading is a precautionary measure to prevent any further damage or loss.
Binance has always been proactive in addressing any technical issues or glitches that may arise, and the current situation is no different. The exchange has assured its users that their funds are safe and secure and that they will be able to resume trading shortly.
In the meantime, Binance has urged its users to remain patient and stay updated on the situation through its official channels. The exchange has promised to provide regular updates on the progress made toward resolving the issue and restoring spot trading services.
Stay calm and avoid FUD – the situation would be resolved and things should get back to normal.
Telegram users can now transfer USDT (TRC-20).
Telegram users welcomed great news as they received the announcement that informed them that they can now transfer USDT (TRC-20) with ease on the platform.
The popular messaging app has added USDT to the @wallet bot, allowing you to send the stablecoin to your friends on Telegram without incurring any transfer fees. This exciting development is set to make transactions even more seamless and hassle-free for Telegram users.
It’s worth noting, however, that a fee of 2 USDT will be charged for withdrawing USDT to a wallet such as TrustWallet. But this shouldn’t dampen the enthusiasm of users, as the convenience of sending USDT via Telegram is a game-changer for the community.
So, if you’re looking for a simple and cost-effective way to send USDT to your contacts on Telegram, look no further than the @wallet bot. Start using it today and enjoy the benefits of effortless and fast transactions.
In another crypto news Highlight, Sec sues Tron founder, citing market manipulations.
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SEC sues Tron (TRX) founder Justin Sun for selling securities and market manipulation.
Justin Sun, the founder of Tron (TRX), has been sued by the U.S. Securities and Exchange Commission (SEC) for purportedly engaging in the selling of unregistered securities, fraud, and market manipulation. The SEC alleges that Sun violated securities laws by selling and airdropping Tron (TRX) and BitTorrent (BTT) tokens, which were deemed unregistered crypto asset securities. Additionally, the SEC claims that Sun and his associates carried out a massive wash trading scheme, which artificially manipulated the secondary market for TRX. The wash trades were so extensive that between 4.5 million to 7.4 million TRX tokens were traded daily through them.
In light of these serious allegations, it is imperative that companies operating in the crypto industry comply with all relevant securities laws and regulations. The SEC has been actively cracking down on fraudulent practices and illicit activities in the crypto space, and it is important for individuals and companies alike to adhere to the rules and guidelines set forth by regulatory agencies.
In conclusion, the allegations against Justin Sun and his associates are a stark reminder of the potential risks and pitfalls that exist in the crypto industry. It is crucial for all stakeholders to work together to foster a culture of transparency, accountability, and ethical conduct.
In another nerve-wracking crypto news highlight, the founder of terra labs has been arrested according to reports.
See Also: 3 Ways to Spot and Avoid Crypto Scams in 2023
Terraform Labs co-founder Do Kwon was reportedly arrested in Montenegro.
Source: cointelegraph
On March 23, Filip Adzic, the Minister of the Interior of Montenegro, announced that an individual suspected of being Do Kwon, co-founder of Terra, had been arrested within the Balkan nation. Local news outlet Vijesti has since confirmed that the Twitter account that made the announcement belongs to the Montenegrin Minister of the Interior and that the arrested individual was a South Korean national.
Yonhap News Agency, a South Korean news outlet, reported on the same day that authorities confirmed the identity of the arrested individual as Terraform Labs’ CEO, Do Kwon, based on “photo data,” name, nationality, and age of an identification card. Kwon’s aide, Han Mo, was also reportedly arrested with him in Podgorica. However, the National Police Agency of South Korea stated that it was still waiting for “fingerprint information” from Montenegrin authorities to fully verify the identities of the arrested individuals as Kwon and Mo. It is worth noting that South Korean prosecutors revoked Kwon’s passport in October 2022.
The reasons behind Kwon’s arrest remain unclear, and the situation is still developing. We will continue to monitor the story and provide updates as more information becomes available.
