Cristiano Ronaldo sued over Binance promotion, Coinbase subpoenas, KyberSwap hacker’s treaty

The kibber swap hacker who stole $46 Million worth of crypto through an Exploit is dangling a treaty to return It but only if people are Nice good morning you're listening to The ryzen crypto podcast by coin Telegraph with me Robert bags steering You through the crypto Cosmos with daily Dispatches from the digital Frontier if You want to stay ahead of the curve in Crypto make sure you click that follow Button okay grab yourself a coffee let's Get into [Music] It okay okay let's do a quick rundown of Everything you need to know today Bitcoin has had its 11th anniversary of The first Haring event which shows some Interesting indicators for the future Some coinbase users received a Terrifying email over subpoena involving Their accounts crypto lender Voyager is Hit with a $ 1.65 billion settlement With the FTC the hacker who swiped $46 Million worth of crypto from kibber SWAP Dangles a treaty but only if the Exchanges execs are nice and Cristiano Ronaldo is being hit with a class action Lawsuit for promoting Binance yesterday marked an anniversary For Bitcoin 11 years from the first ever Harving event and this really is the Strike of the match for Bitcoin Helen Parts wrote a brilliant article

Commemorating this 11th birthday of Harving with a recap but while it's a Nice trip down memory lane it also Offers some fascinating insights of what We might be in for in 2024 and 2025 on The 3rd of January 2009 just a few Months after Satoshi Nakamoto the still Unknown creator of Bitcoin published his White paper Bitcoin a peer-to-peer Electronic cash system the first Transaction took place 3 years and 10 Months later on the 28th of November 2012 that first Haring event took place It is estimated according to stat news That BTC was traded at around $12 at This point which Helen calculated to be 38,200 below the price on the 11th Anniversary of this event the Bitcoin Harving mechanism is baked into the Mining algorithm and is an elegant Solution to the two forces pulling any Currency off balance inflation and Scarcity harving events happen every 210,000 blocks which is approximately Every 4 years and they half the amount Of BTC that miners are compensated per Block in the 3 years and 10 months Leading up to that first Haring from 2009 to 2012 miners were rewarded with 50 BTC per block after the 2020 Haring Event which was the third to happen in Bitcoin's lifespan miners have been Rewarded with 6.25 BTC and that number Is expected to halve again around the

17th of April 2024 this is a fascinating History lesson but it is also Potentially indicative of the future and Part of why people refer to bitcoin as Cyclical Helen put together a really Interesting chart which shows the price Of BTC on the day of each harving event And then the price 150 days after each Haring event so it goes as follows 2012 Harving day the BTC price was $12.35 150 days later it was $127 the 2016 harving day the BTC price Was $650 150 days later it was $758 and the most recent harving 2020 The BTC price was $8,888 and 150 days later it was $1,943 what's interesting is following The harving event bitcoin's price Doesn't even Peak at the 150 day Mark The 2016 harving event for instance had A price of $758 after 150 days but by December 2017 it hit an all-time high of Just under $220,000 needless to say the 2020 Harving also preceded far higher prices Than the $1,943 price as we know Bitcoin was Nearly $69,000 by November the following year So early 2024 may see a spot Bitcoin ETF Approved and then a harving event on the 17th of April what might the price be 150 days later I will Mark Saturday the 14th of September 202 for in my calendar

To return to but then what will 2025 Bring we're all aware that harving Events happen and that one is coming We're all aware that BTC has a Theoretical Supply cap of 21 million We're all aware that BTC moves in Cycles But when you zoom out and you look at The numbers it's hard not to feel a Pang Of excitement of what might be in Bitcoin's Future Okay a bit of a change of pace Here some coinbase users received a Terrifying email yesterday according to Several Twitter users the email read as Follows dear whomever we write to you to Inform you that coinbase has been served With a subpoena in the above referenced Matter seeking information related to Your account and account transaction Activity once the recipients had cleaned Up their chair and changed their clothes They had to figure out what this Referred to coinbase's received subpoena Was from the United States commodity Futures Trading commission cftc who is Seeking information about The buybit Cryptocurrency Exchange the recipients Of this email have speculated that any Coinbase user who also used Buy bit was Contacted with that message bybit is a Dey based exchange and earlier this year In its terms of service it stated that It does not serve the United States However some users may have accessed it

Through vpns bibit describes itself as a Top three cryptocurrency exchange that Serves 20 million users in a recent post They also said the following prudent Risk management and enhanced AML Anti-money laundering compliance have Led bit to gain licenses in the UAE Kazakhstan and Cyprus bit o ceased Serving UK citizens in October after new Financial conduct Authority rules came In I spoke to the author of this article Derek Anderson about the story there was A time when some people were suggesting That the commodity Futures Trading Commission was soft on crypto huh now it Seems as though every crypto exchange is Under scrutiny from them the interesting Thing about coinbase's disclosure is That they didn't have to do it we can Assumed they were simply being Transparent with their customers who Could be affected by The subpoena but The World At Large found found out about It at the same time and for all we know It's the first bibid it heard of it Too we have had some Titanic settlements In crypto this month and it seems we're Not done the crypto lending firm Voyager Digital and its Affiliates have had an Order approved by a federal judge to pay $1.6 billion in monetary relief to the United States Federal Trade Commission The FTC yesterday Turner Wright covered The breaking news that judge Gregory

Woods instructed the settlement and Added that Voyager will Permanently restrained and enjoined from Marketing or providing products or Services related to digital assets it's Not been a particularly fun time for Voyager they filed for bankruptcy in July 2022 and they owe anywhere between 1 billion And1 billion to over 100,000 Creditors in May the court approved Voyagers plan to pay 35.724209 to make everyone whole and Then pay off the settlement but According to Judge Woods the order will Not have a large impact on the Bankruptcy proceedings nevertheless it Doesn't feel like good news for those 100,000 creditors awaiting their money Back okay I love this sector I really do You just don't get absurd stories like This one anywhere else at least not with The same regularity on the 22nd of November a hacker found an exploit Involving kibber swap a cross chain Exchange I'll quote Braden Linda's Article here to bring you up to speed a After the November the 22nd hack Decentralized Finance pundit Doug kit Said the attacker used an infinite money Glitch to carry out a complex and Carefully engineered smart contract Exploit across several networks Implementing kyber swap pools the hacker Made off with around $46 million worth

Of crypto though kibber swaps team Managed to recover 4.67 million of it The kibber swap exec then made a few Moves that looked like a carrot but was Also kind of a stick really they used The carrot as a stick they initially Offered a bounty where the hacker Returns 90% and keeps 10% which is a Lovely $4.6 million Payday for the Hacker they then threatened that they Could track the hacker down and they Have the person's Footprints and in an Onchain message they added so it's Better for you if you take the first Offer from our previous message before Law enforcement and cyber security track You down well the hacker has replied and Unsurprisingly he doesn't appear to Enjoy Authority here is the Hacker's Onche message he left yesterday dear Kibber swap Executives is employees Token holders and LPS I said I was Willing to negotiate in return I have Received mostly threats deadlines and General unfriendliness from the Executive team that's okay I don't mind Spoiler I think he does I have prepared A statement concerning our potential Treaty I plan to release it on November The 30th at noon UTC sharp under the Assumption that I am treated with Further hostility we can reschedule for A later date when we all feel more civil You only need to say the word if not we

Will proceed as planned on November the 30th thank you so now we have to wait And see if the kyber swap ex X are Silent if they play nice or if they Double down on trying to hit the hacker With a Carrot the crazy stories are not over Yet Cristiano Ronaldo one of the most Famous professional athletes on the Planet is being sued for promoting Binance nfts that allegedly promoted Investments in unregistered Securities On the exchange we nearly made it Through an episode without mentioning Binance but this is too newsworthy for Me to not make sure you know about it Let's be direct here the lawsuit is Almost certainly a consequence of Binance's ongoing wo despite their $4.3 Billion settlement with multiple US Government agencies whatever the reason Ronaldo is being sued on the 27th of November a filing was made to the US District Court in Florida and claimed That Ronaldo and I quote here promoted Assisted in and or actively participated In the offer and sale of unregistered Securities in coordination with binance So let's break this down simply Ronaldo Signed a multi-year partnership with Binance mid 2022 to promote a series of His own nfts three of these collections Were tied to binance the complaint Claims that those who signed up for

Ronaldo's nfts were then more likely to Use binance as a platform for other Purposes including the investment in Unregistered Securities here's a quote From the filing Ronaldo's promotions Solicited or assisted binance in Soliciting investments in unregistered Securities by encouraging his millions Of followers fans and supporters to Invest with the binance platform my Knee-jerk reaction to this was it's just People who saw an opportunity to sue Someone extremely wealthy and famous Just because the nfts were tied to Binance doesn't mean you're going to Start day trading on the platform does It but then I did what I like to do Which is play Devil's Advocate to my own Opinion why did binance partner with Ronaldo for brand exposure and to bring More people into the binance ecosystem So it follows that part of the strategy Was to have people use binance for Things outside of Ronaldo's nfts also The filing alleges that follow the Initial sale of the nfts there was a 500% increase in searches for binance Though I haven't seen the evidence that One caused the other Jesse cockland Pulled some interesting quotes from the Filing too he said that the suit also Alleges that Ronaldo knew or should have Known about binance selling unregistered Crypto Securities as he has investment

Experience and vast resources to obtain Outside advisors I'm not certain where I Land on that I can believe that Ronaldo Didn't know most people didn't even Those working on and around binance Where he should have known is a bit Tougher what do you think about this Share your opinion with us on @ Cointelegraph or rbags on Twitter sorry X just a quick side note one of our Writers araj Sara suggested that the Headline for this article should have Been Ronaldo get Sued I just had to wedge that in here Somewhere okay that's it for today Consider yourself informed thank you for Listening to the ryen crypto podcast by Coin Telegraph if you're enjoying these Daily updates please make sure you let Us know by following subscribing or Leaving a review it really does help us Have a great day let's do this again [Music] Tomorrow


Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

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