#crypto
Crypto investor mistakenly received $10 million instead of $100, now facing prison
▪️In May 2021, Jatinder Singh tried to deposit $100 into the Crypto.com exchange using his girlfriend Thevamanogari Manivel's bank account.
▪️The transaction was rejected, but due to an error, $10.4 million was credited instead of $100. Believing they had won the money, the couple withdrew and spent part of the amount on personal needs, including purchasing real estate in Melbourne.
▪️The exchange discovered the mistake only seven months later and initiated a recovery process. Manivel transferred $4 million to an offshore account, suspecting fraud. In March 2022, Manivel was arrested, and later Singh was detained, admitting to spending the money without criminal intent.
▪️Singh is awaiting his sentencing, scheduled for the end of August, while Manivel will perform community service for 18 months.
▪️Crypto.com continues its efforts to recover the funds mistakenly spent by the couple. Previously, the exchange had also made errors in returning funds.
Crypto investor mistakenly received $10 million instead of $100, now facing prison
▪️In May 2021, Jatinder Singh tried to deposit $100 into the Crypto.com exchange using his girlfriend Thevamanogari Manivel's bank account.
▪️The transaction was rejected, but due to an error, $10.4 million was credited instead of $100. Believing they had won the money, the couple withdrew and spent part of the amount on personal needs, including purchasing real estate in Melbourne.
▪️The exchange discovered the mistake only seven months later and initiated a recovery process. Manivel transferred $4 million to an offshore account, suspecting fraud. In March 2022, Manivel was arrested, and later Singh was detained, admitting to spending the money without criminal intent.
▪️Singh is awaiting his sentencing, scheduled for the end of August, while Manivel will perform community service for 18 months.
▪️Crypto.com continues its efforts to recover the funds mistakenly spent by the couple. Previously, the exchange had also made errors in returning funds.
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Justin Sun urged market participants not to worry about the collapse of quotes.
Over the past year, the crypto industry has grown significantly, and market fluctuations are not associated with negative news. We must fight fear and continue to build infrastructure, ensuring liquidity. I am allocating $1 billion for these purposes.
The businessman emphasized that instead of leveraging deals, he prefers to support entrepreneurs. As examples of such activities, Sun cited helping project teams, staking, and providing liquidity.
Earlier, Justin Sun announced that his team is creating a stablecoin whose transfers will not use gas on the Tron and Ethereum networks. Fees will be covered only in the stablecoins themselves.
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#crypto #defi #aave
The lending protocol Aave demonstrated resilience during the cryptocurrency market downturn, earning $6 million overnight thanks to liquidations.
The founder of Aave highlighted the protocol's reliability under market pressure across various blockchain networks.
The platform successfully passed a stress test across 14 markets. The main driver of revenue growth was the decentralized liquidation mechanism, which provides system stability.
The AAVE token attracted significant interest among traders, with trading volume exceeding $5 billion, outpacing competitors Compound and TrueFi.
The lending protocol Aave demonstrated resilience during the cryptocurrency market downturn, earning $6 million overnight thanks to liquidations.
The founder of Aave highlighted the protocol's reliability under market pressure across various blockchain networks.
The platform successfully passed a stress test across 14 markets. The main driver of revenue growth was the decentralized liquidation mechanism, which provides system stability.
The AAVE token attracted significant interest among traders, with trading volume exceeding $5 billion, outpacing competitors Compound and TrueFi.
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Cathie Wood's fund bought $5.4 million worth of Coinbase shares.
On Monday, August 5th, Cathie Wood's ARK Invest acquired 28,632 shares of the cryptocurrency exchange Coinbase. The purchase cost the investment company $5.4 million. According to TradingView, the stock of the cryptocurrency exchange closed at $189.50 yesterday.
ARK Invest's return to purchasing Coinbase shares occurred amid a significant downturn in cryptocurrency markets, caused by massive volatility in traditional stock exchanges.
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Binance
Binance Announcement: New Coin Listings, New Trading Pairs, Crypto Airdrops, Crypto Updates and More | Binance Support
Stay updated on the latest news from the Binance Exchange, keeping track of new crypto listings, new trading pairs, recent delistings, new fiat listings, crypto airdrops and other latest Binance news.
TON Listing on Binance
Binance has announced the listing of TON, with trading starting today at 13:00.
Available trading pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
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Telegram
Gram of TON
GRAM is the native token of TON — The Open Network — an ultrafast, scalable blockchain integrated with Telegram.
The conclusion of The Open League Season 5 is here!
With intense competition and remarkable performances, congratulations to all the winners!
For comprehensive results, Season 5 champions, leaderboards, and insights, check out.
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Ethereum (ETH) Blockchain Explorer
Ethereum Transaction Hash: 0xc68e74da61... | Etherscan
0x89A76def...65bb8ee88 Transfer 0.8777 ETH to 0x537Ada04...7fF2B2999 | Success | Aug-11-2024 09:26:59 PM (UTC)
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📉 #crypto #btc #fear
The decline in Bitcoin's price from August 11 to August 12 led the crypto market to once again plunge into a state of "extreme fear." The "Fear and Greed" index dropped to a level of 25, exiting the "fear" zone where it had remained for only three days.
The lowest point of the year for the index was 17, which it hit on August 7 after Bitcoin's price fell below $50,000.
By the end of the week on August 10-11, the leading cryptocurrency had increased in price, and the sentiment index rose to 39-40 points. However, on Monday, due to another decline in BTC to $58,400, market participants are once again experiencing "extreme fear."
The decline in Bitcoin's price from August 11 to August 12 led the crypto market to once again plunge into a state of "extreme fear." The "Fear and Greed" index dropped to a level of 25, exiting the "fear" zone where it had remained for only three days.
The lowest point of the year for the index was 17, which it hit on August 7 after Bitcoin's price fell below $50,000.
By the end of the week on August 10-11, the leading cryptocurrency had increased in price, and the sentiment index rose to 39-40 points. However, on Monday, due to another decline in BTC to $58,400, market participants are once again experiencing "extreme fear."
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🇺🇸🤑 #crypto #btc
Marathon, the largest mining company in the USA, has started adding the label "Made in USA" to every block mined in the blockchain of the main cryptocurrency.
At the end of July, the company announced a strategic investment in bitcoins worth $100 million. MARA is the second-largest corporate holder of bitcoin after MicroStrategy by Michael Saylor, with more than 20,000 coins ($1.1 billion) on its balance sheet.
Marathon, the largest mining company in the USA, has started adding the label "Made in USA" to every block mined in the blockchain of the main cryptocurrency.
At the end of July, the company announced a strategic investment in bitcoins worth $100 million. MARA is the second-largest corporate holder of bitcoin after MicroStrategy by Michael Saylor, with more than 20,000 coins ($1.1 billion) on its balance sheet.
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Telegram
Super Channels, Star Reactions and Subscriptions
Today is Telegram's 11th anniversary. Meet Star Reactions and Star Subscriptions that let users support content creators, paid media for bots and Business accounts, and a new mode for Telegram Channels that lets admins post as their other channels or personal…
On Telegram's birthday, Pavel Durov announced a new update.
All the features we mentioned are now available. The update can be downloaded now for iOS and Android users who installed Telegram directly from the website telegram.org
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The Block
TON collaborates with Pyth Network to enhance real-time data feeds for gaming and DeFi
Pyth says its real-time price data can help TON games build better in-game economies, as well as help DeFi projects expand their audience.
Pyth Network announced Wednesday that it has partnered with The Open Network (TON).
▪️The partnership mainly involves Pyth’s oracle service, which allows users to request price data on-demand. Pyth will support games on the TON blockchain by providing accurate data feeds to help developers create improved in-game economies.
▪️Pyth's oracle will help TON projects expand their audience globally by feeding real-time price data, which it deems necessary for DeFi services that strive to offer fast transactions.
In addition to gaming and DeFi, Pyth added it expects its service to help TON attend to new Web3 users who expect the same level of responsiveness as they received from Web2 services.
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State of the Crypto Market
▪️ As of the trading session on August 15, the total capital inflow into Bitcoin funds amounted to $11.1 million.
▪️ Ethereum funds recorded an inflow of nearly $39.2 million.
▪️ The Crypto Fear and Greed Index is in the "fear" stage — 27 out of 100 points.
▪️ According to traders on Polymarket, a platform for betting on real-world events, Harris's chances of winning the presidential election have risen to 54%, and Trump's chances to 44%. The volume of bets on the US elections has exceeded $604 million.
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🇦🇪#crypto
Dubai court recognizes crypto as a valid salary payment
UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.
Dubai court recognizes crypto as a valid salary payment
UAE lawyer Irina Heaver said the ruling shows the growing acceptance of crypto in employment contracts, recognizing the evolving nature of Web3 financial transactions.
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Protos
CHART: Listing every crypto sponsor for the 2024/25 Premier League
This season, 14 of the Premier League's 20 clubs will boast partnerships or sponsorship deals with crypto companies.
14 out of 20 clubs in the English Premier League have signed sponsorship deals with cryptocurrency companies.
Sponsorship related to cryptocurrencies and blockchain is becoming increasingly popular in the world’s most-watched football league. In the 2023/24 season, 8 different teams had an official cryptocurrency trading partner. The largest deal was made by Manchester City with the exchange OKX for 70 million dollars.
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A platform for creating meme tokens called SunPump has been launched on the Tron blockchain.
The service is being touted as a competitor to Рumр_fun, a token generator on the Solana network.
A key drawback of such platforms is that scammers take advantage of them to launch their projects. Justin Sun told reporters that SunPump conducts thorough checks of developers to ensure they "meet certain standards of honesty."
The SunPump team also announced that, in collaboration with Tron DAO, they have launched the Meme Ecosystem Boost program to support tokens issued on their platform. The allocated fund amount is $10 million.
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The stablecoin USDT will be launched on the Aptos blockchain.
According to Tether, supporting the Aptos network will allow USDT transactions to be conducted with exceptionally low fees (fractions of a cent). This should enable an expansion of USDT use cases, ranging from microtransactions to operations in large corporations.
The Aptos blockchain was also chosen for its "unprecedented speed and scalability." In May of this year, the network recorded 157 million transactions in a single day.
USDT operates on several blockchain networks, the most popular of which are Tron, Ethereum, Avalanche, Solana, and Ton.
The Aptos blockchain token (APT) is among the top 30 largest crypto assets with a market capitalization of about $3 billion.
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In India, a victim of a collapsed cryptocurrency pyramid scheme kidnapped two of its employees and extorted money from them.
Indian authorities have arrested a suspect for kidnapping two employees of the collapsed cryptocurrency pyramid scheme BitConnect and extorting over $120 million in cryptocurrencies.
It is reported that he allegedly lost funds due to the pyramid's collapse and sought to recover his investments. Along with accomplices, he kidnapped two former BitConnect employees and demanded 2091 bitcoins, 11,000 Litecoin coins, and 145 million Indian rupees (approximately $1.7 million) for their release.
The financial pyramid scheme BitConnect operated from 2016 to 2018. As a result of its collapse, around 4,000 people worldwide collectively lost over $2 billion.
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