New York’s Lawsuit Against KuCoin [ Crypto Espresso 3.10.23 ]

Happy Friday and happy March 10th which Is actually if you think about it lead Speak for Mario so today I'm not going To be your host Andrew I'm gonna be your Host Mario Here we go oh God never mind I'm just Gonna be your host Andrew and this is Crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines Let's just get this over with before I Try my Luigi impression first up Bitcoin Fell below 20 000 on Friday as yet Another U.S Bank showed signs of Distress Silicon Valley Bank spooked Investors after dumping assets at a 1.8 Billion dollar loss and then announcing A 2.25 billion share sale the Institution plays a significant role in Lending money to Tech startups and now There are fears of a bank run svb's Stock plunged 60 on Thursday and buy Another 22 in after hours trading and This all comes days after crypto Friendly silvergate Bank announced that It was winding down Bitcoin has also Fallen to its lowest level in two months And barring stable coins the 50 biggest Altcoins are also in the red the crypto Markets aren't alone in suffering a Nasty correction though with Wall Street Taking a battering too eth is having Some bigger headaches right now though New York's attorney general has Announced that she's suing kucoin for

Failing to register with the state and The SEC She's accused the company of Falsely representing itself as an Exchange and wants its website and app To be blocked from the state Leticia James's lawsuit also explicitly calls Ether Security in one of the first times That this has been claimed in court She's also compared eth to UST and Luna Arguing that it is a speculative asset That relies on the efforts of Third-party developers in order to Provide profit to the holders James Claims that kucoin is brazenly Disregarding our laws and putting Investors at risk and went so far as to Call the company shadowy earlier this Week we talked about how vitalik buterin Has dumped 700 000 worth of mean coins That were airdropped into his wallet Without permission well now ethereum's Co-founder has broken his silence on Reddit the tokens he had offloaded Included shikoku cult maps and bite Explaining his epic selling spree he Wrote bite and other coins being Discussed on this forum are coins Have no redeeming cultural or moral Value and will probably lose you most of The money you put into them I Anti-endors these projects to the Greatest extent buteren's warning Appears to have fallen on deaf ears Though on Twitter One account that

Appears to be affiliated with bite Called his post bullish think they might Have missed the point there a new token That's attempting to capitalize on the Momentum of chat GPT is causing a huge Splash on Twitter crypto GPT says that It allows users to monetize their data And turn every task of daily life into a Source of income it claims that personal Information relating to how we use Health and fitness apps games music and Even dating sites can all be used to Turn a profit but it's actually unclear Whether there's any substance to match Crypto gpt's bold claims or whether it's Simply yet another project that's trying To drive up token prices by using the AI Buzzword the issue of preserving privacy Isn't raised on its homepage either end On crypto Twitter some are openly Warning that this project is a scam just Be careful where you put your money People and finally our very own Leo Jacobson has a deep dive on why Silvergate bank is winding down and why It's a huge blow to the crypto ecosystem Many major firms in the space used its Infrastructure as a Fiat on-ramp and to Move Dollars around but now that it's Gone no mainstream Banks want to take Its place a number of crypto exchanges among them are struggling to Figure out how to allow customers to Move dollars into their trading accounts

And then transfer them back into their Bank accounts but look it's been a rough Week so let's just focus on our favorite Chubby Italian plumber who loves Mushrooms and steps on Turtles actually No that sounds weird maybe we should Just focus on our engagement Spiel like This video subscribe to our YouTube Channel and click on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live thoughts on Today's episode well I think the Comments are still disabled so tough Noogies questions about our headlines or Crypto in general why not ask Alex in That description below Alex is always a Great resource for all things web 3 and The metaverse and that about does it for Today and the week again I've been your Host Andrew these have been your Headlines and ladies and gentlemen Foreign The weekend see you Monday


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