Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for May 8-14, 2023.

Weekly Crypto Digest for May 8-14, 2023.

Sunday, May 14, 2023

TOP news of the crypto industry by Yellow Capital.

Sam Bankman-Fried is asking the judge to drop all criminal charges against him

The former executive director of FTX, Sam Bankman-Fried, said that the prosecutor's office hastily charged him and asked the judge to dismiss 10 of the 13 criminal charges. In a court filing, SBF's attorneys said that the bankrupt FTX was far from the only cryptocurrency company to fail during the massive market crash of 2022 and that prosecutors rushed to charge their client.

PayPal disclosed the amount of cryptocurrency assets on the company's balance sheet

According to the quarterly report, the technology firm increased the volume of its digital assets by 56% in the first quarter of 2023. And now there is $1 billion in PayPal accounts. Of them, $499 million is in BTC, $362 million is in ETH, and $82 million is in BCH and LTC.

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Montenegro media: Do Kwon will be released

As reported by local media, Do Kwon will be released from custody in Montenegro on bail of €400,000.

Ukraine cooperates with the US and Chainalysis to track digital assets of Russians

Representatives of the Criminal Investigation Department of the IRS, in cooperation with law enforcement officers of Ukraine, track the digital assets of Russians that bypass international ones. Thanks to the tax agency, Ukrainian investigators have access to tools of the analytical platform Chainalysis. Thanks to the tax agency, Ukrainian investigators have access to tools of the analytical platform Chainalysis.

MetaMask announced a partnership with the PayPal payment service

Now customers from the United States can easily buy ETH. MetaMask was the first wallet to implement such a feature. PayPal is available for users throughout the US (except Hawaii). In addition to the direct purchase of ETH, the integration also supports the transfer of ETH from PayPal to MetaMask, facilitating the wider adoption of self-service.

CEO of Coinbase: SEC is on "lone crusade" against Crypto

CEO of Coinbase stated that they will always have a presence in the US and about the "lone crusade" of the SEC against the crypto industry. "The SEC is a bit of an outlier here, there's kind of a lone crusade, if you will, with Gary Gensler, the chair there, and he has taken a more anti-crypto view for some reason." - says Armstrong.

Bittrex filed for bankruptcy

Cryptocurrency exchange Bittrex and several subsidiaries have filed for Chapter 11 bankruptcy. According to the filings, Bittrex has more than 100,000 creditors, assets of between $500 million and $1 billion, and liabilities estimated at more than $500 million-$1 billion.

Almost 400 crypto companies have closed in Estonia

In Estonia, the financial regulator FIU investigated the activities of registered cryptocurrency companies. As a result of inspections, 389 firms stopped providing their services in the country.

Binance leaves Canada

Binance has announced its exit from the Canadian market amid regulatory changes, new stablecoin regulations, and restrictions for investors that made it impossible for Binance to operate in the country.

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