SEC Sues Jake Paul for Illegally Promoting Justin Sun’s Cryptocurrencies

• The U.S. Securities and Exchange Commission (SEC) has sued Internet personality Jake Paul for allegedly illegally promoting cryptocurrencies tied to Justin Sun without disclosing he was being paid to do so.
• Paul settled the charges and is one of a cast of celebrities the SEC charged with participating in a scheme to illegally promote Sun-tied cryptos.
• This isn’t the first time that Paul’s crypto escapades have been scrutinized as he was previously sued for allegedly participating in a pump-and-dump scheme run by SafeMoon.

SEC Sues Jake Paul

The U.S Securities and Exchange Commission (SEC) has sued Internet personality Jake Paul for allegedly illegally promoting cryptocurrencies tied to Justin Sun without disclosing he was being paid to do so.
Paul settled the charges, making him one of a cast of celebrities the SEC charged with participating in a scheme to illegally promote Sun-tied cryptos.

Previous Crypto Scrutiny

This isn’t the first time that Paul’s crypto escapades have been scrutinized as he was previously sued for allegedly participating in a pump-and-dump scheme run by SafeMoon. His brother, Logan, also raised eyebrows with his failed nFT project CryptoZoo.

Celebrities Promoting Cryptos

The SEC alleges that Paul and other celebrities did not disclose they were paid to promote Sun-linked assets, which is an illegal practice according to securities laws. The YouTuber-turned boxer is among those accused of doing this, although it appears only he has settled the charges thus far .

Other Legal Troubles

Besides Jake Paul’s legal troubles concerning cryptocurrency investments, his company Block (SQ) is currently facing criticism from short seller Hindenburg Research over “wildly” overstating user counts while understating customer acquisition costs .

Join the Conversation in Crypto and Web3

Danny Nelson from CoinDesk encourages readers interested in understanding more about blockchain technology and cryptocurrency investments to join “the most important conversation” taking place at Austin, Texas on April 26th – 28th .

Bitcoin Rallies to 9-Month High, Fades Late to Trade Below $25K

• Bitcoin (BTC) is hovering around $25,000 after reaching a nine-month high of about $26,500.
• The rise of the world’s largest cryptocurrency came minutes after the release of U.S. Consumer Price Index data.
• BTC had gained double digits for two consecutive days before fading late and trading below $25K.

Bitcoin Hits 9-Month High

Bitcoin (BTC) is hovering around $25,000 after reaching a nine-month high on Tuesday at about $26,500. The rise of the world’s largest cryptocurrency by market value came minutes after the U.S. Consumer Price Index was released. BTC had surged to a 9-month high above $26,500 before retreating again and trading below $25K.

Inflation Data Boosts Crypto Markets

The Bureau of Labor Statistics released their February consumer price index (CPI), which showed inflation declining to 6% from January’s 6.4% reading and the core rate increasing by 0.5%. This mildly encouraging data boosted crypto markets as bitcoin rose above $26,000 on Tuesday for the first time in nine months before losing some of its gains later on in the day.

Analysis From Tastycrypto Head Of Digital Assets

Tastycrypto Head of Digital Assets Ryan Grace discusses his crypto markets analysis and shares his insights into investor sentiment on stablecoins such as USDC and DAI compared to Bitcoin’s performance during volatile times like these when investors look to hedge against inflationary risks with safe haven assets like gold or digital currency alternatives such as cryptocurrencies that are outside traditional banking systems and beyond government control or manipulation through monetary policy decisions like quantitative easing or interest rate changes etc..

Galaxy Research Analyst Shares Insights At Consensus 2023

Head of Firmwide Research Alex Thorn will be discussing his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023 in order to provide more clarity on how cryptocurrencies are affected by global economic news events such as CPI releases and other macroeconomic indicators driving investor sentiment towards digital asset investments over traditional financial instruments that are subject to inflationary pressures due to central bank actions that can impact fiat currencies negatively over time with regards purchasing power parity etc..

Conclusion

Overall, Bitcoin has been able to weather any storms so far this year despite some volatility due mainly driven by external factors out of its control such as inflation data releases from major economies worldwide leading many investors turning towards cryptocurrencies like BTC as a way to hedge against potential losses in their traditional portfolios while also providing an opportunity for long term growth in an increasingly digital economy driven by blockchain technology advancements throughout various industries including finance among others where decentralized ledger systems offer unprecedented levels privacy & security never seen before now made possible through distributed ledgers & smart contract protocols amongst other things making it easier than ever before for users looking for alternative investment opportunities outside traditional asset classes like stocks & bonds etc..

Lido’s LDO Token Sinks 10% Following SEC Rumors

• Lido’s LDO token sank 10% following rumors that the SEC had delivered a Wells Notice to decentralized staking service.
• Crypto podcaster David Hoffman spread and then retracted a rumor that the SEC had served Lido with a Wells Notice.
• A spokesperson for Lido declined to comment on whether the protocol had received a notice.

Lido’s LDO Token Sinks 10%

Crypto podcaster David Hoffman spread (and then retracted) a rumor that the SEC had delivered a Wells Notice to the decentralized staking service, resulting in an immediate 10% drop in the value of Lido’s native token, LDO. A spokesperson for Lido declined to comment on whether the protocol had received such notice.

What is a Wells Notice?

A Wells Notice is a letter from the SEC detailing charges it is considering bringing against a recipient. On Friday, Hoffman said that he’d heard Lido and other crypto projects had been served with Wells Notices, an assertion he later retracted.

Rumors Spark Panic on Crypto Twitter

The rumors sparked panic on Crypto Twitter, and quickly spread across ETHDenver – one of the year’s largest crypto industry gatherings – which was taking place at the time. The rumors would suggest that the SEC is ramping up scrutiny of Ethereum and crypto staking services in general.

Hoffman Retracts His Comments

Hoffman described his comments as “a miscommunication between me and a lawyer friend”, and soon after his video spread on Twitter, he backtracked stating “the idea of a mass recent carpet bomb isn’t correct.”

Lido Spokesperson Declines To Comment

A spokesperson for Lido declined to comment on whether or not they have received such notice from the SEC.

Investors Still Bullish on Crypto and Staking Despite SEC Fine

• The SEC recently fined Kraken $30 million for not registering its staking-as-a-service program in the US.
• Juthica Chou, Kraken’s Head of OTC Options Trading, revealed that institutional trading interest in crypto remains high despite the SEC’s regulatory crackdown.
• She mentioned that there are “possible assets with opportunities both for short- and long-term investments”.

SEC Fines Kraken for Not Registering Staking as a Service

The U.S. Securities and Exchange Commission (SEC) recently penalized San Francisco-based crypto exchange Kraken with a fine of $30 million for failing to register its staking-as-a-service program in the U.S. Immediately following this announcement, two of Kraken’s registered companies – Payward Ventures, Inc., and Paywayrd Trading Ltd., – agreed to settle the fine issued by the SEC

Insitutional Interest in Crypto Remains High

According to Juthica Chou, head of over-the counter (OTC) options trading at Kraken, institutional investors remain interested in cryptocurrencies despite the recent regulatory crackdown by the SEC. She stated that trading interest is still very strong for proof-of-work networks as well as proof-of stake networks, adding that many clients are trying to gain directional exposure and see possible assets with opportunities both for short and long term investments.

Kraken’s Response To The Fine

Kraken responded to the fine by immediately closing down its staking service to U.S customers and agreeing to pay a sum of $30 million as part of their settlement agreement with the SEC.

Future Outlook For Staking

Chou remains optimistic about future prospects for staking as she believes that institutional interest in crypto continues to remain strong even after these events have taken place. Despite this optimism, she has urged potential investors to be aware of all regulations before investing into any form of cryptocurrency asset class due its highly volatile nature.

Conclusion

Cryptocurrencies have become increasingly attractive investment vehicles due their potential returns but also come with certain risks associated with them such as regulatory uncertainty or market volatility which can quickly erase gains if not managed properly.. As such it is important for potential investors to take necessary precautions before investing into any form of digital currency asset class or related services like staking offered by exchanges like Kraken so they understand what they are getting themselves into

TRU Token Soars Over 200% After Binance’s TUSD Mint Sparks Speculation

• TrueFi’s TRU token surged over 200% after Binance issued TUSD stablecoin.
• The rally appears to be sparked by traders mistakenly connecting TRU with TUSD.
• TrustToken and TrueFi have been separated since 2020 and TrueFi is now embarking on a road to decentralization.

TRU Token Rallies After Binance’s TUSD Mint Sparks Speculation

The rally of the governance token of decentralized lending protocol TrueFi, called the TRU token, surged 220% on Thursday in an hour due to speculation surrounding a Binance stablecoin transaction. Binance minted $50 million of the TrueUSD (TUSD) stablecoin which caused traders to speculate about its potential role in trading on Binance after a regulatory crackdown on the Paxos-issued Binance USD (BUSD).

Separation of TrustToken & TrueFI

TrustToken sold TUSD in 2020 to a firm called Techteryx and also separated from the TrueFi protocol, becoming renamed Archblock last year as TrueFi began its journey towards decentralizing the platform. The TrueFi Foundation, the legal entity for their DAO, is currently in the process of transferring all IP and assets from Archblock.

TRU Rally & Price Parity

The speculation around TRU caused it to surge as high as 14.6 cents from 4.4 cents on Binance before later paring some gains, trading at around 11 cents at press time. This was shortly followed by Paxos stating that they would be halting mintings of their own stablecoin; BUSD, which further increased speculation around other players in this market such as TUSC and TRU.

Stablecoins’ Role In Crypto Trading

Stablecoins have become increasingly popular within crypto markets due to their low volatility and ability to be used as a reliable store of value or unit of account similar to fiat currencies without needing government backing or regulation. This has made them highly attractive for both investors looking for security and traders looking for leverage when trading digital assets. However, with more regulatory scrutiny being placed upon these coins it is important that users be aware of who is actually issuing these coins before investing any money into them.

TrueFI & Decentralization

TrueFI has begun its path towards becoming fully decentralized in order to increase transparency within the platform while allowing users more control over their investments without needing trust any third party entities or intermediaries while still enjoying all the benefits associated with blockchain technology such as lower transaction fees and quicker settlement times than traditional banking systems offer today.. With this move towards decentralization comes increased responsibility for users when investing into any asset and should not be taken lightly before risking any capital into highly volatile markets such as cryptocurrency

Darknet Revenues Plunge After Hydra Shutdown: Chainalysis

• Chainalysis’s blockchain data showed that after Hydra was shut down, its vendors quickly switched to another marketplace – OMG!OMG!.
• Hydra used to be the most successful platform for drugs and other illicit goods and services.
• Competitors such as OMG!OMG!, Blacksprut and Mega Darknet Market have been able to pick up the slack since Hydra’s collapse.

Hydra’s Shutdown

The infamous darknet market Hydra was shut down last year, but competitors quickly occupied its place according to blockchain analytics firm Chainalysis. After Hydra was shut down, the wallets that were previously interacting with Hydra started transacting with OMG!OMG!, a new marketplace, with more than half of OMG!OMG!’s revenue coming from former Hydra clients – indicating that the operators of Hydro may have had a hand in running it too.

Hydra’s Dominance

Before being taken offline, Hydra had been the most successful market for drugs, counterfeit documents, money laundering and other illegal goods and services in the world; mostly operating in Russia and neighboring countries. The platform offered crypto cash-out services and even announced an initial coin offering (ICO) of its own token in 2019 which unfortunately never happened due to U.S sanctions imposed on their crypto wallets in April 2022.

Competitor’s Emergence

Following this shutdown competitors emerged including OMG!OMG!, Blacksprut and Mega Darknet Market all of whom used similar deposit addresses at a “high-risk exchange with a heavy presence in Russia” according to Chainalsysis. Blockchain intelligence firm TRM Labs reported that since Hydras collapse these competitors have received $820 million worth of crypto combined over 8 months.

Drug Delivery System

Both Hydro and OMG!OMG! shared a similar method for drug delivery whereby buyers would receive geographic coordinates for packages hidden in parks or other locations however no further information is known on whether this system remains active post-Hydro closure or not.

Conclusion

After Hydras closure it appears as though competitors were quick to take up any lost space however it remains unclear how much influence former Hydro operators are having over these new markets or whether their drug delivery system is still being utilised by these new platforms today.

Bitcoin Investors Show Faith in Long-Term Prospects Amid Bear Market

• The HODL Waves indicator created by Unchain Capital and tracked by Glassnode shows that the percentage of unspent transaction outputs (UTXO) older than five years has increased by 17% in the past six months.
• This indicates aging of unspent outputs, a sign of some investors maintaining their coin stash during the market swoon.
• Joe Burnett, head analyst at Blockware Solutions, called the aging of UTXOs a bullish development.

Bitcoin has been the subject of much attention over the past few years, with its volatile price movements and its role in the wider blockchain world. Now, data from the Bitcoin blockchain is providing evidence that some investors have been HODLing during the recent bear market.

The HODL Waves indicator, created by Unchain Capital and tracked by Glassnode, has recorded a sharp rise in the percentage of unspent transaction outputs (UTXOs) older than five years. UTXOs are the amount of cryptocurrency someone has after executing a transaction. Every BTC transaction creates a UTXO, and its age indicates the block it was first included in and the last time the said bitcoin was moved. The increase in the percentage of UTXOs older than five years suggests that some investors have been holding their coin stash during the bear market.

Joe Burnett, head analyst at Blockware Solutions, has noted the bullish implications of this data. He commented that “the aging of UTXOs is a sign of HODLing and is a bullish development”. This further supports the idea that some investors have been confident in Bitcoin’s long term prospects, despite the bear market.

The HODL Waves indicator is an important tool for understanding Bitcoin’s market movements. It provides insight into the behaviour of Bitcoin investors and offers evidence for the trend of HODLing during bear markets. This data is a testament to Bitcoin’s continued strength and resilience, with investors showing faith in its long term potential.

Pantera Capital Predicts a DeFi Future in 2023 Crypto Market Outlook

• Pantera Capital, a crypto-focused venture capital firm, released their 2023 forecast, predicting a future of decentralized finance (DeFi).
• This follows headline-grabbing exploits and bankruptcies, such as the implosion of multibillion-dollar centralized exchange FTX and last week’s filing by crypto lender Genesis.
• Pantera’s CEO, Dan Morehead, believes that blockchain will survive these issues and will eventually replace the world’s financial rails.

As the crypto space continues to grow, venture capital firm Pantera Capital has released its 2023 crypto market outlook, predicting a future of decentralized finance (DeFi). With about $3.8 billion in assets under management, Pantera is a major player in the crypto world, and their forecast provides valuable insight into the future of the industry.

This 2023 forecast follows a bear market that emerged early last year, worsened by a wave of headline-grabbing exploits and bankruptcies. For example, the implosion of multibillion-dollar centralized exchange FTX and last week’s filing by crypto lender Genesis, a sister company of CoinDesk’s, were particularly damaging to the crypto space.

However, Pantera CEO and co-Chief Investment Officer Dan Morehead is confident that blockchain technology will survive these issues and will eventually replace the world’s financial rails. In the forward of his investor letter, titled “The Year Ahead,” Morehead noted that Pantera has managed blockchain funds through three previous “crypto winters,” and each of them featured “supposedly catastrophic events.”

Morehead argued that blockchain is going to “change the world,” and that it will continue to do so despite challenges. He believes that smart contracts on blockchain-based systems will eventually become the norm for financial rails, and that the real questions are how we get there.

Pantera’s 2023 crypto market outlook is an optimistic one, and the company is focused on transaction fees, liquidity, and usability. With the growing popularity of DeFi and the continued development of blockchain-based systems, Pantera is confident that the future is bright for the crypto space.

MakerDAO Approves $100M USDC Deployment on Yearn Finance for 2% Yield

• MakerDAO has approved the deployment of $100M USDC stablecoin on the DeFi protocol Yearn Finance, which is expected to earn an estimated 2% annual yield.
• Maker will open an individual non-custodial vault on Yearn with a ceiling set at $100 million to deposit USDC from its “Peg Stability Module.”
• 72% of MakerDAO voters supported the proposal, which will now go into final implementation and the transfer of funds from the PSM.

The MakerDAO community has approved the deployment of $100 million worth of USD coin (USDC) on the DeFi protocol Yearn Finance. The decision comes with the promise of a potential 2% annual yield on the stablecoin deposits.

The proposal to open a USDC vault on Yearn Finance was submitted at the end of November, and was approved on Monday with 72% of MakerDAO voters in favor. For final implementation and the transfer of funds from the PSM, a “executive vote” from Maker Governance is still required.

The funds will come from Maker’s “Peg Stability Module” (PSM), a reserve used to back the value of Maker’s decentralized stablecoin DAI. Maker will open an individual non-custodial vault on Yearn with a ceiling set at $100 million to deposit USDC from the PSM.

With this new strategy, MakerDAO is expected to earn an estimated 2% annual yield on USDC stablecoin deposits. The funds will be deployed in Yearn’s “bespoke on-chain vault,” a platform designed to maximize yield on deposits while providing a secure and liquid experience.

The deployment of USDC is part of MakerDAO’s ongoing effort to maximize the potential of DeFi protocols. This latest move will further cement Maker’s position as one of the leading DeFi projects, and is sure to attract further institutional investment.

The deployment of USDC on Yearn Finance is a major step forward for MakerDAO and the decentralized finance (DeFi) ecosystem as a whole. It is a clear sign that Maker is committed to finding innovative ways to maximize returns for its users, and will likely lead to further growth in the DeFi space.

Comprehensive Guide to Backing Up Your Data on an External Hard Drive

In the modern world of digital technology Data loss is a serious threat to both businesses and individuals. With the aid by an external storage device you can protect your crucial files from computer or software issue. The backup of your data onto external hard drives is a safe and secure method of ensuring that your crucial files are safe from data loss.

In this complete guide, you’ll be taught all the basics of the external drives. You will learn about including the various kinds that are available, the best way to select one and the best way to setup it and how to backup your data to external hard drives.

What is an External Hard Drive

External hard drives are an external storage device that can be used to store data and files. It is connected to your computer through an USB cable and is able to store lots of data , such as images and videos, music documents, and much more. External hard drives run on the same technology as internal hard drives. Therefore, they’re very sturdy and durable.

Benefits of Using an External Hard Drive

There are numerous advantages when you use external drives. In the first place, it is a safe method to protect your valuable information. External HDDs are useful because they’re portable and can easily be transferred from one location to another. In addition, they are cheap and can hold large quantities of information.

Types of External Hard Drives

There are a variety that are external hard drives in the marketplace today. The most commonly used include solid-state drives (SSDs) as well as classic hard drives, hybrid drives along with network-attached (NAS) drives.

Solid State drives (SSDs) are the most recent kind that are external hard drives. They are extremely fast reliable and efficient. They also are the most expensive kind of external hard drive.

Hard drives that are traditional in design and function is the most popular type of external hard disk. They’re slower than SSDs however they are affordable and can store more information.

Hybrid drives combine the advantages with SSDs as well as traditional hard drives. They cost more as traditional drives however they are more efficient and have greater capacity for storage.

Storage that is network-attached (NAS) drives external hard drives made for use in companies and other large corporations. They tend to be more expensive than conventional hard drives, however they have greater storage capacity and are also more secure.

How to Choose an External Hard Drive

When selecting an external storage device there are a variety of factors to think about. In the beginning, you must decide on the kind the external hard drive that is suitable for your requirements. For instance, if want a speedy as well as reliable device for storage it is likely that an SSD is the best choice. If you’re looking for more storage capacity for an affordable price, the traditional hard drive is the better option.

Also, you should consider the size of your external drive. The majority of external drives come in sizes that range in size from 500GB up to 10TB. If you’re backing up large quantities of data, you might require a bigger external storage device. In addition, you should search for external drives that have a long-lasting warranty and work with your PC.

How to Set Up an External Hard Drive

Installing the external drive fairly simple. The first step is to connect the external hard drive into your PC using the USB cable. Once the drive has been connected, you’ll need to install the appropriate software. Based on the model of external hard drive you may have for you to download additional programs, such as a driver, or a backup software.

Once the program is installed, you must create a new external hard drive. This will wipe out all information on the drive and provide you with a clean starting point. Once the external drive has been formatted, it are able to begin copying your data onto the drive.

Backing Up Your Data on an External Hard Drive

Backup your data to external hard drives is easy. First, you must connect the external drive with your personal computer. After the hard drive has been connected, you’ll need to select the files you would like to backup. This can be done by hand or using software to automate the process.

When the files have been selected and you are ready to begin with the process of backup. In accordance with the kind external drive you might need to select an appropriate backup method, like incremental or full backup. When the backup is completed it is recommended to verify the backup to be sure that all the data files can be accessed.

Common Backup Issues and Troubleshooting Tips

Backup of data to an external hard drive could be difficult and there are various problems that could be encountered when doing this. The most frequent problems occurs when the external drive might not be recognized from your system. This could be due to an USB cable that isn’t working correctly or a defective hard drive.

Another issue that is common is that backups might be slow. This could be due to the slowness of your USB connection or an inoperative hard drive. If your backup is running too slow test another USB cable or replace an external drive.

Conclusion

Backup your data to the external drive can be a secure and secure method to ensure that your data is safe from data loss. In this complete guide, you’ve learnt the fundamentals of external hard drives. Learn about including the various kinds that are available, the best way to select one and the best way to setup it and how to backup your data to external hard drives. With the correct external hard drive and the appropriate backup strategy, you can rest sure that your important data is secure and safe.