Welcome to Barmy’s Daily Crypto News – August 7th, 2022
1. Binance CZ Advises Users To Transfer Funds From Wazirx Wallets To Binance
The dispute between the Indian cryptocurrency exchange Wazirx and the global cryptocurrency exchange Binance has progressed. Changpeng Zhao, the CEO of Binance, tweeted on Friday that everyone holding money on Wazirx should transfer it to Binance. He foresaw: “We could disable Wazirx wallets on a tech level.”
Wazirx’s bank accounts were frozen by India’s Directorate of Enforcement (ED) as part of a money laundering probe, which sparked a dispute between Binance and Wazirx.
Nearly three years after the two exchanges announced the purchase, Binance’s CEO swiftly denied that his business had bought Wazirx in response to the ED’s notification. While Zhao claimed that the acquisition of Wazirx “was never completed”, Nischal Shetty, the creator of Wazirx, disagreed with Zhao’s assertion that Binance had never acquired his exchange.
2. Elon Musk Filed Lawsuit Back At Twitter, Featuring Fraud Accusation
Elon Musk, CEO of Tesla and SpaceX, has counter-sued Twitter after the social media company sued him for pulling out of the $44 billion plan to acquire the platform. In his counterclaim, Musk, who was served on Thursday, claims: “This action arises out of Twitter’s misrepresentations to the Musk parties regarding the condition of the company and the ‘key metrics’ Twitter uses to evaluate the number of users on its platform.”
“Twitter was miscounting the number of false and spam accounts on its platform, as part of its scheme to mislead investors about the company’s prospects by focusing on its purported hundreds of millions of mDAU,” Musk further alleged, adding that the social media firm considers monetizable daily active users to be “users who logged in and accessed Twitter on any given day through Twitter.com or Twitter applications that are able to show ads.”
On Thursday, Twitter responded to Musk’s countersuit, accusing the Tesla CEO of cherry-picking data and misrepresenting how its online advertising platform functions.
3. Brazil’s Central Bank Director Praises Bitcoin, Addresses Digital Real
Around the world, more and more central banks are tackling the problem of cryptocurrencies and figuring out how to innovate to keep up with these technologies. The director of the Central Bank of Brazil, Fabio Araujo, commended Bitcoin as a financial invention that sparked the Web3 movement and discussed how the central bank’s still-under-researched digital real might have programmable capabilities.
Araujo stated: “We started to accelerate this in 2009, with the launch of Bitcoin, with distributed database technology that facilitates the creation of Web3. The Bitcoin application brings the Proof of Work solution, which is a fundamental thing for the services that Web3 brings to the population.”
Besides, Araujo made a brief mention of the digital real and made a suggestion that it might be intelligent. The central bank’s digital currency is depicted as being connected to Web3 components like digital assets, tokens, internet of things (IoT) protocols, and offline payments in a series of slides that were presented at the occasion.
4. Voyager To Enable Cash Withdrawals For Accounts With US Dollars
The cryptocurrency company Voyager Digital has announced that it intends to start accepting cash withdrawals on Thursday, August 11, following the bankruptcy judge’s approval of the release of $270 million in cash deposits. Customers of Voyager can use an automated clearing house (ACH) transfer to withdraw up to $100K in cash after the cash withdrawal gates are opened.
Customers of Voyager have until October 3, 2022 to submit claims against the company in the U.S. Bankruptcy Court in New York, including claims for bitcoin holdings. The Official Committee of Unsecured Creditors (UCC) was established by Voyager last month.
5. BTC-e Alexander Vinnik In US Custody Following Extradition From Greece
Alexander Vinnik, the alleged co-founder and manager of the infamous cryptocurrency exchange BTC-e, was extradited from Greece to the United States on Thursday. According to a Friday statement from the US Department of Justice, the Russian national is charged in the Northern District of California and has already appeared in federal court in San Francisco.
In the summer of 2017, the 42-year-old Vinnik was detained on a warrant out of the United States while on vacation in the Greek city of Thessaloniki. In January of that year, he had faced a 21-count superseding indictment from American prosecutors. Greece granted an extradition request from the United States, but in December 2019 he was first taken to France under a European arrest order.
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