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NFT News
Coinjournal
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Nigerian authorities seeking a $79.5B penalty against Binance
- Nigeria's federal government has sued Binance for a $79.5B penalty.
- The government demands $2B in back taxes for 2022-2023.
- Binance is accused of tax evasion and operating without a license.
- The outcome of the lawsuit could have significant implications for Binance and the crypto industry in Nigeria.
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Guardian
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Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax
- Nigeria has filed a lawsuit against Binance, seeking $79.5bn in economic losses and $2bn in back taxes.
- Authorities blame Binance for Nigeria's currency woes and detained two of its executives in 2024.
- The lawsuit alleges that Binance has a significant economic presence in Nigeria and should pay corporate income tax.
- Binance was already facing tax evasion charges in Nigeria and is contesting the charges.
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Massivelyop
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The reboot of Kickstarted MMO Shards Online, Legends of Aria Classic, is officially sunsetting
- Legends of Aria Classic, the reboot of Kickstarted MMO Shards Online, is shutting down.
- The closure is due to insufficient Patreon support to cover server costs for several months.
- Player-run servers like Shards of Britannia will continue to operate unaffected.
- The closure marks the end of a tumultuous journey for the MMO, which faced controversies and changed ownership.
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Cryptopotato
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Binance US Reinstates USD Services After Nearly 3 Years
- The US arm of Binance, the world's largest cryptocurrency exchange, has restarted USD-based services after a three-year hiatus.
- USD-based services include deposits, withdrawals, direct purchases, conversions, trading, recurring buys, staking, claiming a crypto domain, OTC trades, API trading, and institutional platforms.
- Binance US halted USD-based services in 2023 after being sued by the SEC, resulting in a drop in market share and staff cuts.
- Despite the SEC lawsuit against Binance still being active, the case has been temporarily paused for 60 days in early February.
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TronWeekly
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Is the SEC’s Crypto Crackdown Over? Stark Declares It ‘Expired’
- The SEC’s crypto enforcement, including cases against Coinbase and Binance, is reportedly grinding to a halt.
- Former SEC official John Reed Stark suggests these developments signal the end of the SEC’s crypto-enforcement efforts.
- The agency’s newly formed Crypto Task Force is now reshaping the regulator’s approach to digital assets.
- The U.S. SEC lawsuit against Coinbase appears to be losing momentum as the regulator reconsiders its crypto enforcement approach.
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Medium
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THE DAWN OF A CRYPTO REVOLUTION
- Since Network has joined forces with PureX Exchange and Simi Wallet to create an unstoppable ecosystem in the crypto space.
- The partnership aims to enhance the user experience, fortify the infrastructure of digital finance, and ensure seamless transactions with unparalleled security.
- The collaboration signifies a strategic move towards a more integrated and user-centric approach in the crypto world, enhancing compliance and trust in the industry.
- The alliance between Since Network, PureX Exchange, and Simi Wallet sets new benchmarks in the industry and redefines the cryptocurrency ecosystem.
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TheNewsCrypto
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CZ Gets Extra BNB After LIBRA Donation and Pledges More Aid
- Binance founder CZ donated 150 BNB ($100,000) to LIBRA scam victims.
- He pledged to donate extra funds to TST and BROCCOLI meme coin victims.
- CZ received more BNB than he donated, and he confirmed he won't keep any of it.
- The LIBRA token controversy sparked a fraud probe and resulted in multiple meme coins on the BNB Chain.
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Medium
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"Breaking the Rugs: The State of Web3 in 2024"
- Solana has been facing rugpulling scams due to its convenience and low cost of use.
- Investors need to be educated and enhanced due diligence tools are necessary to assess project legitimacy.
- Centralized Finance experienced a significant increase in losses of $694 million in 2024, stemming from access control issues.
- QuillAudits is a chain-agnostic smart contract auditing firm with initiatives to combat issues in the Web3 space.
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16 Likes
TronWeekly
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Binance Wins Big: Named Best Crypto App at APAC Awards 2024
- Binance wins the title of 'Best Crypto App' at the Sensor Tower APAC Awards 2024, solidifying its position as a leader in the crypto space.
- The platform has facilitated over $100 trillion in trading volumes since 2017, experiencing significant growth in Asia.
- Binance ranks as the most-visited crypto platform and is recognized as Fortune's No.1 Asia FinTech Innovator.
- With over 225 million global downloads and a 4.8-star rating, Binance is praised for its comprehensive crypto solutions and platform dominance.
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Cryptopotato
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CZ Refutes Binance Sale Rumors After Recent Asset Transfers
- Binance co-founder Changpeng Zhao (CZ) denies rumors of the cryptocurrency exchange being up for sale.
- CZ dismisses the claims as misinformation spread by competitors and clarifies that Binance is not for sale.
- Binance remains open to mergers, acquisitions, and strategic partnerships, though not for sale.
- Binance faces regulatory challenges, with ongoing scrutiny in France but positive progress in the U.S. legal situation.
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21 Likes
Cryptopotato
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Image Credit: Cryptopotato
OpenSea Halts Airdrop Reward System Following Community Backlash
- OpenSea has halted its airdrop reward system following community backlash.
- The platform introduced an XP system to determine user eligibility for an upcoming airdrop but faced criticism.
- OpenSea will pause XP rewards for listing and bidding activities while reevaluating the best approach.
- Instead, OpenSea will focus on 'XP shipments' as a mechanism for rewarding broader participation and engagement.
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25 Likes
Bitcoinik
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Image Credit: Bitcoinik
Binance Exchange Asks Community to Vote for $Pi Token Listing
- Binance crypto exchange invited people to vote for listing $PI token.
- Vote percentage in favour of listing doesn’t guarantee the listing of the token on the exchange.
- Binance users will be required to have a minimum $5 balance in their Binance account to vote.
- Bybit, OKX decided to launch this token, but Bybit refused to support it.
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TheNewsCrypto
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World of Women Launches NFT Portrait Series Honoring Women Builders in Web3
- World of Women (WoW) has commissioned a portrait series that honors women builders in Web3.
- The NFT collection is minted on the Etherlink-Tezos blockchain L2 and portrays women pioneers as Western frontier icons.
- The initial series features Tina He, Winny.eth, Evin McMullen, and Jill Gunter, who are trailblazing women in decentralized technology.
- WoW aims to support women builders by providing opportunities, directing capital, and simplifying the onboarding process.
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Bitcoinist
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Binance Exec Shuts Down Rumors—Crypto Exchange Not Up For Sale
- Binance officials have rejected rumors that the cryptocurrency exchange is up for sale.
- Former CEO Changpeng Zhao (CZ) and co-founder He Yi both refuted the allegations.
- Binance remains open to strategic partnerships to enhance its regulatory compliance system and expand its product line.
- The company is facing regulatory challenges, with a US federal judge pausing the SEC lawsuit against Binance for 60 days.
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10 Likes
Tokenhell
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What is the Altcoin Season Index? A Beginner’s Guide
- The altcoin season index compares altcoins’ performance against Bitcoin to determine whether they have surpassed the leading cryptocurrency within a given time frame.
- Altcoin season occurs when altcoins outperform Bitcoin in market capitalization and price growth, characterized by increased volatility and trading activity.
- Past altcoin seasons include notable spikes in prices between 2020-2021 and 2017-2018, driven by factors such as ICOs, meme coins, and the rise of non-fungible tokens (NFTs).
- Indicators of a new altcoin season include an increase in altcoin dominance, rising trade volumes, the use of specialized indices like the altcoin season index, and notable price breakouts in altcoins.
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