CryptoQuant CEO Ki Young Ju compared crypto exchange KuCoin's condition with FTX after the former was slapped with legal scrutiny. Amidst regulatory challenges faced by KuCoin, Ju provided insights into why KuCoin is unlikely to face a fate similar to FTX.

https://coingape.com/cryptoquant-ceo-explains-why-kucoin-wont-end-up-like-ftx/

Coinbase's layer-2 network, Base, is gaining some serious traction, with $1 billion in Total Value Locked (TVL). Realistically, Base is probably the hottest L2 network right now.

https://u.today/coinbases-l2-network-base-surpassed-1-billion-in-tvl?utm_source=snapi

In a detailed letter to Judge Lewis Kaplan, the legal representatives for Sam Bankman-Fried, the embattled founder of cryptocurrency exchange FTX, have vehemently argued against the government's recommendation for a 50-year prison sentence, labeling it as a “medieval view of punishment.

https://news.bitcoin.com/sam-bankman-frieds-defense-challenges-super-villain-narrative-in-sentencing-debate/

Reports from Bloomberg shed light on this groundbreaking development, revealing that under Teng's leadership, Binance Labs is being transformed into an independent entity, distinct from the Binance Group. The disclaimer plastered across Binance Lab's official website unequivocally states the detachment: “Binance Labs is an independent venture and not part of the Binance Group.

https://thecurrencyanalytics.com/altcoins/binance-shakes-up-structure-splits-from-investment-arm-binance-labs-103458

Starbucks has said it will discontinue its Odyssey non-fungible token beta program and members “have until March 25, 2024, to complete any remaining journeys.” Starbucks stated on its FAQ page that it will keep its NFT community in mind and is working to find a place for its members to connect in the future.

https://news.bitcoin.com/starbucks-discontinues-nft-program-to-prepare-for-what-comes-next/

President Joe Biden hasn't taken a particularly friendly stance toward cryptocurrency. On the contrary, he's been a lot like his predecessor.

https://cointelegraph.com/news/neither-joe-biden-nor-donald-trump-are-crypto-champions

Nigeria has initiated a bold request to Binance, the world's leading crypto exchange. The Nigerian government has called upon the exchange to provide comprehensive data on its top 100 users based in the country, alongside a detailed transaction history spanning the last six months.

https://bitcoinist.com/nigeria-crackdown-binance-authorities-demand/

The Hong Kong Monetary Authority (HKMA) announced the commencement of Project Ensemble, a new wholesale central bank digital currency (wCBDC) project to render support to the development of the tokenization market in Hong Kong.

https://www.crowdfundinsider.com/2024/03/222385-cbdcs-and-tokenization-hkma-announces-project-ensemble-a-wholesale-central-bank-digital-currency-initiative/

The interoperability platform Wormhole shared insights about its upcoming airdrop on Wednesday. This event is meant to expand its ecosystem through the strategic distribution of its new native currency — W tokens.

https://blockworks.co/news/wormhole-native-w-token-airdrop

The U.S. Securities and Exchange Commission (SEC) has raised concerns over Binance.US‘s compliance with regulatory requests for information regarding the management and safety of its customers' assets. This scrutiny comes amid allegations against Binance Holdings Ltd.

https://coingape.com/binance-us-faces-sec-scrutiny-over-customer-assets/

The Securities and Exchange Commission (SEC) has tried to double up its lawsuit against the leading cryptocurrency exchange Coinbase. This action follows a recent court decision that defined some crypto assets as securities, giving the SEC a new direction in its ongoing legal investigation of crypto exchanges and their operations.

https://coingape.com/coinbase-vs-sec-sec-leverages-new-ruling-to-press-charges-against-coinbase/

Gemini, a prominent cryptocurrency exchange, has agreed to reimburse at least $1.1 billion to customers of its defunct lending program. The company will also pay a $37 million fine as part of a settlement with the New York Department of Financial Services (NYDFS).

https://www.benzinga.com/markets/cryptocurrency/24/02/37387796/crypto-exchange-gemini-to-refund-1-1b-to-earn-program-customers?utm_source=snapi

The International Monetary Fund (IMF) has recently shed light on digital currencies' potential benefits and risks in Pacific Island countries (PICs). These nations face unique monetary challenges due to geographical isolation, small and diverse markets, and specific economic vulnerabilities.

https://www.cryptopolitan.com/imf-identifies-digital-currencies-as-key-to-financial-inclusion-in-pacific-island-countries/

The Federal Reserve Bank of Atlanta released a statement on Monday, warning other banks about the risks of blockchain and crypto. The statement comes at a time when the alleged use of crypto in illicit activities has taken a resurgence.

https://coingape.com/atlanta-federal-reserve-raises-caution-for-banks-on-crypto-risks/

A top Hong Kong-based crypto exchange has halted withdrawals on its platform after over $56 million was taken out of its wallets last week. According to on-chain investigator ZachXBT, BitForex engaged in some “suspicious activity” last week. “Seeing some suspicious activity with the crypto exchange BitForex.

https://dailyhodl.com/2024/02/26/hong-kong-based-crypto-exchange-bitforex-halts-withdrawals-after-56-million-leaves-wallets-report/