Bitcoin Bottleneck: Binance Pauses & Resumes Bitcoin Withdrawals

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Another week of scrolling! Rough start to the week in the crypto markets; even for the $PEPE holders. Remember: Don’t get caught catching a falling knife and keep on scrolling 🖤⛓

• Binance resumes $BTC withdrawals after second pause on exchange (CD)

• FTX wants $5B back from Genesis (CD)

• Alibaba opens web3 metaverse in China Cloudverse (CD)

• Bejing’s crypto ban is not working well (BBG)

Crypto Market Down ~3.5% Today

• Diagram launches $100M FIII focused on Fintech & Web3 with backing from former Blackstone employees (NFTG)

• CCMC venture capital firm is launching a $100M Asia-focused blockchain fund (CG)

• Zodia Custody got $35M to help institutions custody digital assets (ZODIA)

• ZKLink got $10M to build multi-chain DEX tokens (ZK.LINK)

• Giddy got $6.9M for their smart contract wallet (GIDDY)

• NChain lead $2.4M investment into Asset Layer for new Web3 app building (PRN)

• OpenTrade raises $1.5M to tokenize treasuries (LI)

• Spielworks launches a Web3 x Wombat gaming accelerator (ALXB)

• Leading blockchain VC, AX1, is releasing an official market report on crypto wallets (FC)

• The Bahamas is updating the DARE Bill (BW)

• South Korean prosecutor wants Do Kwon to be prosecuted in home country (WSJ)

• Poloniex agrees to $7.6M fee to settle sanctions violations (CD)

• New York Attorney seeks broader authority on crypto (WSJ)

• Digital bank, Revolut, is now able to open its operations in Brazil (CD)

• DEUS Finance hit by $6M stablecoin hack on BNB Smart Chain & Arbitrum Network (CT)

• Israel has seized 190 Binance accounts with alleged terrorist ties (REUT)

• Cyber firm CertiK froze $160k worth of crypto before being transferred to the Merlin exchange (OLI)

• Binance faces probe by the U.S. for illegal Russian sanctions & access to the exchange (BBG)

• Ethereum staking deposits outpace withdrawals by nearly ~$200M (DT)

• Liquid staking platform lido surpasses 6M ETH deposits (CD)

• ETH devs in “final stage” of next major upgrade (TD)

• $PEPE destroyed 5000 ETH (U)

• ETH foundation sells $30M in ETH (U)

• Coinbase’s Q1 Earnings Report - a $79M loss (COIN)

• CashApp reported a $2.2B revenue earning from $BTC in Q1 (DT)

• Binance moved $4.4B of BTC across wallets (YF)

• Ripple ($XRP) has spent $200M fighting the SEC (CT)

• How to check an ETH transaction (CT)

• How web3 solves real-world problems (@chainlink)

• A16Z’s multi-billion dollar bet on crypto and web3 (YF)

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