Saylor indicted, FBI warns of DeFi exploits, and drops $495M sponsor: Hodler’s Digest, August 28

Coming every Saturday, Hodler’s Digest It will help you keep track of every important news that happened this week. The best (and worst) quotes, adoption and regulatory highlights, coin leaders, predictions and much more – a week on Cointelegraph in one link.

This week’s main news

The D.C. Attorney General has charged Michael Saylor and MicroStrategy with tax evasion.

Michael Saylor, the founder of MicroStrategy, has been charged with US tax evasion while living in Washington, DC. State Attorney General Carl Racine’s office has sued Saylor and MicroStrategy for allegedly helping Saylor over $25 million in D.C. income taxes. The lawsuit stems in part from an amendment to D.C.’s False Claims Act to encourage whistleblowers to report tax fraud, meaning Saylor could face a $75 million fine. Backs $495M Sponsorship Deal With UEFA Champions League: Report has decided not to proceed with a $495 million sponsorship deal in response to potential regulatory issues. The sponsorship deal with the Union of European Football Associations (UEFA) would have seen advertise in the UEFA Champions League for five seasons. The crypto exchange was reportedly in sponsorship talks after the Champions League dropped its sponsorship of Russian state-owned energy company Gazprom. has several high-profile advertising efforts under its belt, such as the business model starring American actor Matt Damon.

Indonesia in 2010 It plans to establish a crypto bourse by the end of 2022.

Before Indonesia 2023, a government-built crypto exchange, also known as a crypto exchange. The completion of the crypto bourse, which was originally announced at the end of 2021, has taken longer than expected, but the government wants to get things right instead of rushing to launch. “We will ensure that all requirements, procedures and necessary steps are taken,” Indonesia’s Deputy Trade Minister Jerry Sambuga said.

Teter Roche asked Friedman to withdraw from the class action

Tether and Bitfinex are still locked in an allegation that the USDT stablecoin, launched in 2019, was used to dominate the cryptocurrency market. Tether and Bitfinex’s legal team wants plaintiff attorney Roche Friedman to be dismissed over his involvement with Kyle Roche – the latest CryptoLeaks video case that alleges he misused privileged information. Damage” Ava Labs competitors in exchange for AVAX tokens. Kyle Roche has recently moved to recuse himself from several legal cases, including defendant Bitfinex and Tether. However, the defendant still wants Roche Friedman to be completely removed from the lawsuit, in addition to demanding that their personal information be destroyed or returned by Roche Friedman.

A Central African Republic court has ruled that a $60,000 citizenship-by-investment program is unconstitutional.

In July, the Central African Republic (CR) launched the Sango Center – a new crypto-focused initiative aimed at expanding Bitcoin adoption and creating a special economic zone in the Metaverse. This initiative also includes the creation of Sango, a digital asset backed by Bitcoin, where foreigners can acquire citizenship in the country for $60,000 in crypto, the same amount of Sango tokens held for five years. The Constitutional Court of the CAR declared the efforts unconstitutional, but noted that the price of citizenship was not worth it.

Winners and losers

At the end of the week, Bitcoin (BTC) It’s on. 20,369 dollarsEther (ETH) as if 1,636 dollars And XRP as if 0.33 dollars. It’s at the top of the overall market. 1.00 dollars trillion, basis to CoinMarketCap.

Among the largest 100 cryptocurrencies, the top three altcoin earners of the week are Celsius. (CEL) At 36.41%, eCash (Czech) At 20.70% and Lido DAO (LDO) at 18.05%

The top three altcoin losers of the week are Helium. (HNT) At -24.47%, Avalanche (AVAX) At -10.41% and Arweave (R) by -9.92%

Be sure to read Cointelegraph’s market analysis for more information on crypto prices.

The most memorable quotes

“Building new things is not for the faint of heart.”

Neil DundonFounder of CryptoRecruit

“Ethereum is about licenseless innovation, free enterprise, property rights, globalization.”

Ryan BerckmansA member of the Ethereum community

“Ultimately we came to the idea that we should be agnostic to every chain and token issued by Coinbase. We cannot sit here in an ivory tower focused on one asset.

Brian ArmstrongCEO of Coinbase

“I feel that way [crypto] It is impossible to be biased.

Tom EmmerMember of the US House of Representatives

“In reality, most crypto is still junk. I mean, with the exception of a few dozen signs, everything mentioned is either noise or, frankly, just gone.”

Omar FarooqHead of Onyx, JPMorgan Digital Assets Division

“Cryptocurrencies have taken on a life of their own outside of the distributed ledger – and this is the source of the crypto world’s problems.”

Ravi Menon.Managing Director of the Monetary Authority of Singapore

Forecast of the week

Bitcoin’s squeeze to $23K is still open as crypto market capitalization holds key support.

For much of this week, Bitcoin has been undecided on whether it wants to stay above or below $20,000, trading north and south of the level multiple times, according to Cointelegraph’s BTC Price Index.

Friday on Twitter, anonymous Twitter user Crypto master They suggested that a short squeeze could occur if BTC rises above the $20,700-to-$20,800 price zone. Pending a break of this level, Bitcoin could then hit between $22,500 and $23,000. Conversely, a drop below $19,500 could take the squeeze off the table, especially if the asset continues to fall below $19,000.

FUD of the week

The FBI has issued an alert regarding exploits by cybercriminals targeting DeFi.

A public service announcement from the United States’ Federal Bureau of Investigation (FBI) this week warned the public of the rise of decentralized finance (DeFi) exploitation, saying that those interested in DeFi should be cautious. The agency also noted that DeFi platforms should conduct code audits to check for vulnerabilities. In the year In total, malicious actors have stolen more than $1.6 billion through DeFi exploits in 2020 and 2021.

‘Cryptoqueen’ accomplice Ruja Ignatova to be extradited to US: Report

Ruja Ignatova’s alleged accomplice Christopher Hamilton, a British citizen, may be extradited to the United States following a ruling by a UK judge. However, the move still needs approval from the UK government’s executive branch. Hamilton allegedly had a hand in the $4 billion OneCoin Ponzi scheme linked to Ruja Ignatova, a “cryptocoin”. in June, The FBI added Ignatova. On the list of ten most wanted fugitives. The charges against Hamilton include defrauding $105 million in connection with a Ponzi scheme.

Snaky Installs Fake Google Translate App Crypto Miner on 112,000 PCs

The crypto and tech sectors are often full of tech traps and scams. One particular effort underway since 2019 is particularly difficult. A specific type of malware called “Nitrokod” hides in fake computer applications and starts mining Monero (XMR), but only after a few days. Malware can be found in deceptive versions of fake apps, such as the Google Translate app, which has many positive reviews online. There is no official Google Translate desktop app, but this malware-ridden app has become a top search result. The Nitrocode malware affected more than 100,000 devices in nearly a dozen countries.

Best features of Cointelegraph

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Get ready for the feds to start prosecuting NFT traders

Securities and Exchange Commission regulators need to act to protect the NFT market from traders who distort indirect trading — and they probably will soon.

Why interoperability is the key to mass adoption of blockchain technology.

Interoperability enables blockchain networks and protocols to communicate with each other, making it possible for everyday users to interact with blockchain technology.

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