🙏 Changpeng Zhao facing justice: A sincere or strategic mea culpa before the verdict?
🙏 Changpeng Zhao facing justice: A sincere or strategic mea culpa before the verdict?
Welcome to the Daily Tribune on Friday, April 26, 2024 ☕️
Hello Cointribe! 🚀
Today is Friday, April 26, 2024, and like every day from Tuesday to Saturday, we summarize the top news of the past 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Rainy 🌧️
24-hour crypto summary ! ⏱️
🙏 Changpeng Zhao and redemption before judgment
Changpeng Zhao, founder of Binance, who is facing a trial, has sent an apology letter to the judge handling his case, acknowledging Binance's compliance shortcomings and expressing regret. Despite the possibility of a three-year prison sentence, he remains focused on the future and plans to financially and strategically support promising biotechnology startups and other innovative young companies.
This move comes as 161 letters of support from various crypto industry players, as well as his family and friends, have been presented to plead in his favor. This legal case and its outcome on April 30, 2024, could determine Zhao's future as a potential patron in technological innovation. 🔗 Read the full article here.
💥 Security compromised in El Salvador: Major attack on the national Bitcoin wallet
El Salvador's Chivo Bitcoin wallet has been hit by devastating cyberattacks, with the recent publication of highly sensitive data, including snippets of source code and VPN access. These revelations, made on the online forum CiberInteligenciaSV, raise concerns about the security of the national wallet, which had already been shaken by the leak of personal data of over 5 million Salvadoran citizens.
The attackers had warned the government of their intention to disclose this information if no dialogue was initiated, thus threatening the security of millions of users who could see their accounts compromised. This scandal poses a major challenge to Nayib Bukele's initiative to make El Salvador a pioneer in Bitcoin adoption, casting doubt on the reliability of the digital solutions implemented by the country. 🔗 Read the full article here.
💡 Cryptocurrencies: A revolution for global philanthropy
In 2024, donations in cryptocurrencies to major U.S. charitable organizations reached a staggering $2 billion, compared to $125 million in 2022. This dramatic increase was triggered by the acceptance of cryptocurrencies by two of the country's three largest charitable organizations, expanding their donor base and strengthening their role in the adoption of these technologies.
The platform TheGivingBlock states that this growth is the result of the growing interest of wealthy philanthropists in cryptocurrencies to support charitable causes and highlights a shift in trust and convenience in crypto transactions. However, these advancements are not without challenges, particularly in terms of cybersecurity and regulatory compliance, as organizations navigate between the risks of financial losses and the constraints of various legislations. 🔗 Read the full article here.
🔻 Back to normal for Bitcoin ETFs?
BlackRock's Bitcoin ETF, IBIT, had its first day without new capital inflows since its launch in January, ending a historic streak of 71 consecutive days of inflows. This halt may signal the end of the initial euphoria surrounding Bitcoin ETFs, with a total of $15.5 billion accumulated in just a few months.
On the same day, the global Bitcoin ETF market also recorded massive net outflows of $120.6 million, largely led by the Grayscale Bitcoin Trust, which alone suffered $130.4 million in losses. This slowdown suggests a possible reassessment of institutional interest in Bitcoin in the context of the cryptocurrency's price decline and geopolitical tensions. 🔗 Read the full article here.
Crypto of the day: MultiversX (EGLD)
MultiversX, formerly known as Elrond, is an innovative blockchain designed to provide extremely high transaction speed through its sharding architecture. This blockchain offers significant added value in terms of scalability, processing up to 15,000 transactions per second, making it ideal for decentralized applications requiring high performance.
The native crypto, EGLD, primarily serves as a transaction and governance token within the MultiversX ecosystem, facilitating both payments and decentralized decision-making. EGLD holders benefit from staking rewards and have the power to vote on protocol change proposals, ensuring their direct involvement in the platform's evolution. EGLD can be used to pay for services, make investments, or even participate in decentralized financing programs (DeFi).
Recent performance
Current price: €42.52
Percentage increase/decrease: 2.71% increase in one day
Market cap: €1,142,643,610
Rank on CoinMarketCap: #75
Bitcoin surpasses gold
Bitcoin has recently surpassed gold in terms of inflation rate, a milestone amplified by the fourth halving of the mining reward. This halving reduced the creation of new bitcoins from 900 to 450 BTC per day, lowering its inflation rate to just 0.85%, compared to approximately 2.3% for gold. The cryptocurrency is becoming rarer than gold, enhancing its appeal as a durable store of value. This minimized inflation increases investor interest and could potentially increase trading volumes and widespread adoption of Bitcoin. However, volatility remains a significant consideration, with significant implications for the stability of the cryptocurrency market.
