SEC fines BlockFi with a $100m fine ! What does that mean for the rest of the crypto lending sector? This is a fairly new area and will make other high interest yield programs an easy target since they already targeted BlockFi. Back in 2021, when coinbase tweeted that they were introducing a high-interest yield program. The SEC replied that if this was true, that they would sue. They have 60 days to comply.
Prime Minister of Canada, Justin Trudeau has invoked the Emergencies Act, which is the first time it has been implemented in Canadian history. This is a tactical maneuver, which is a slippery slope, we now need to ask ourselves. Do we trust the government enough to be able to freeze or terminate access to your account?
Looksrare is now LookingWellDone by how much under fire they were under after it was exposed that that LooksRare team cashed out about $30 million, used a mixer called Tornado, for 10 employees, claiming that they have not been compensated for their work previously. When being faced with backlash from the community about the issue, they claimed that it was never a secret that they would eventually cash out. To which the community replied by saying if that were true, then why would you try to hide the digital paper trial by using Tornado
The Gentlemen of Crypto is a daily live cryptocurrency podcast that broadcasts on YouTube. Isaiah Jackson and King Bless provide cryptocurrency analysis across a variety of blockchain news stories.
FEBRUARY 17, 2022: Top cryptocurrency gains/losses : 55
- ETH (6.32%)
- BNB (7.27%)
- ADA (5.23%)
Canada wylin : 3:43
- Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto.
- all crowdfunding platforms are required to report “large and suspicious transactions” to the Financial Transactions and Reports Analysis Centre of Canada.
SEC FINES BLOCK FI: 12:49
- BlockFi will pay $50 million in settlement to the SEC and another $50 million to 32 U.S. states that brought similar charges.
- According to a January report, the SEC was investigating products similar to BlockFi Interest Accounts offered by Gemini, Celsius Network and Voyager Digital
LOOKSRARE: 22:22
- The NFT marketplace confirmed that the core team has cashed out 10,500 WETH estimated to be worth $30 million from the unattributed staked native token LOOKS.
- The unattributed LOOKS tokens were cashed out for Ether on the popular crypto mixing tool Tornado Cash.
- One user asked “So why tornado it? Seems like you kinda got caught cashing out and now damage control.”
BSC TO BNB: 32:48
- Binance Chain and Binance Smart Chair are both rebranding to BNB Chain
- Due to ease of operations, interoperability and low cost, BNB has been a popular choice for crypto users
RUSSIAN WALLETS: 37:07
- $400 million of stolen funs were relocated to Russian wallets
- Come with the conclusion from 3 characteristics
COINBASE HIRE: 42:05
- Looking to hire 2,000 more employees
Bonus: https://thegentlemenofcrypto.com/blog/solana-crypto-beginners-guide/
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