🗣Brazilian Police Shut Down Drug Cartel-Run Crypto Exchange

Police in São Paulo have uncovered a money-laundering scheme involving a fake cryptocurrency exchange operated by the First Capital Command drug cartel.

In a recent raid, authorities seized assets worth about $8.9 million. The exchange allegedly handled over $89 million in crypto transactions. The operation followed the issuance of 20 arrest warrants and 60 search warrants across the state. Courts have frozen cartel assets totaling $1.4 billion.

🗣XRP vs SEC — The Final

The SEC sought to classify $XRP as a security and impose a $2 billion fine on Ripple. However, the court sided with the company, ruling that the token sales on exchanges were legal. The fine was reduced by 94%, amounting to $125 million, applicable only to institutional sales.

The court declared that XRP is not a security. The case against Ripple has been closed in favor of the company, leading to a 30% surge in the token's value.

🗣SEC Fines Ripple $125M for XRP Sales to Institutional Investors

The SEC has fined Ripple $125 million for selling XRP to institutional investors. However, trading the coin on the secondary market has been deemed legal.

XRP is responding with a price surge. Ready for liftoff? 🚀

Weekend Mood 😎

🗣 Ethena launched USDe stablecoin on the Solana network

SOL has also been added as a reserve asset for the "synthetic dollar".

Recall that USDe is a stablecoin that is positioned as a synthetic dollar. Its stability and profitability are achieved by opening a delta-neutral position. The project generates income through funding + staking.

🗣KuCoin Partners with Web3 Group EVG

KuCoin has announced a strategic partnership with Everest Ventures Group (EVG) to promote mass adoption of Web3. The collaboration aims to accelerate community growth and enhance cryptocurrency accessibility. Key initiatives include launching the KuCoin X EVG Ecosystem GemPool Series and expanding the Web3 ecosystem for greater accessibility.

⏺Naira Appreciates to N1,585/$ in Parallel Market

The Naira strengthened to N1,585 per dollar in the parallel market, up from N1,600 on Monday. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), it rose to N1,601 per dollar from N1,607.15. Dollar trading volume declined by 19.7% to $61.9 million. The gap between parallel market and NAFEM rates widened to N16 per dollar.

🗣Indian Authorities Accuse Binance of Tax Evasion.

India's tax authorities have accused Binance, the world's largest cryptocurrency exchange, of evading $86 million in taxes.

The Directorate General of GST Intelligence (DGGI) in Ahmedabad found Binance owed 722 crore rupees due to its classification as an Online Information Database Access or Retrieval (OIDAR) service provider. Binance allegedly charged Indian clients trading fees without paying Goods and Services Tax (GST). Binance’s income from these fees may have reached $476 million.

The exchange’s spokesperson declined to provide details but expressed readiness to cooperate with Indian authorities. Previously, India’s Financial Intelligence Unit fined Binance $2.2 million for anti-money laundering violations.

🗣Yesterday’s sell-off matched the FTX crash in terms of BTC sold at a loss. However, according to traders, the worst is over, and it’s time to start drawing charts with a reversal to $156k 🤑

Bitcoin ETFs saw an expected sell-off of $168 million yesterday, while ETH ETFs surprised with an inflow of $48.7 million (the best result since the start of trading, excluding the first day) 🤑

The Japanese stock index Nikkei 225, which started yesterday’s crash, recovered by 10% today. We are waiting to see how the S&P 500 will open. For now, the mood is positive as the media has paused the FUD about a U.S. recession.

🧪 Top-3 for the last 24 hours:
Brett - $0.09198 (↑30.92%)
Bittensor - $254 (↑26.65%)
Ondo - $0.7134 (↑26.00%)

It's Pedro Neto day. 🩺📝

🔵🔜⏳️