Nach Daten des Cybersicherheitsunternehmens Cyvers stieg die Gesamtsumme an gestohlenen Geldern auf zentralen Börsen im zweiten Quartal 2024 im Vergleich zum Vorjahr um 900 Prozent.
Meme coins surge ahead of new Solana token Tequila launch
- Meme coins are surging again, with Bonk and Dogwifhat the Solana ecosystem.
- Excitement is also high ahead of new Solana meme coin Tequila (JULIO) launching.
- JULIO expects to have its fair launch on July 10.
The Solana meme coin market has seen a sudden spike in upside action, with Bonk leading the top gainers as traders seek fresh opportunities.
While top dog-themed meme coins like Shiba Inu and Dogwifhat are rising, the biggest anticipation is around the launch of Tequila (JULIO), the new Solana meme coin that arrives on July 10.
Solana meme coins surge
Meme coins are currently outperforming the broader crypto market. The gains for the sector have seen its market cap rise 8.5% in 24 hours to over $45 billion.
Meanwhile, Solana meme coin’s market cap has increased over 14% in the same period. Narrowing to top presale meme coins currently trading on top crypto exchanges, Book of Meme and Slerf are up as the overall market cap jumps 10%.
Although these tokens are seeing decent upward moves, market attention is on Tequila (JULIO), which will launch on July 10 to potentially herald the next breakout meme coin.
Tequila launches amid big moves for Solana meme coins
Tequila is a new Solana meme coin inspired by the distilled Mexican beverage tequila. The algave tequilana is an important plant in Mexico’s Jalisco state, the heart of an industry that could see $32 billion worth of tequila exported this year
Amid this outlook is Tequila (JULIO)’s quest to bring the tequila tradition and fun to Solana.
The meme coin is a fair launch, with 90% of tokens for the community and 10% for marketing and development.
Per details on the project’s website, the total supply of JULIO tokens will be 100 million, which means 90 million will be available to the community on launch day. With interest skyrocketing amid a meme coin resurgence, demand for this new beverage-inspired token could send its token’s value vertical.
JULIO is set to list on Solana-based DEX and AMM Raydium, before other exchanges and platforms follow as part of the Tequila meme coin’s roadmap.
The development phases also include the launch of themed parties, a layer 3 platform, and a Tequila spirit drink- which will have JULIO as the payment token.
Learn more about Tequila meme coin and its upcoming launch on the official website.
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Cboe Seeks SEC’s Approval After Filing to List Solana ETFs
- The Chicago Board Options Exchange (Cboe) has submitted two applications to list spot Solana ETFs on its platform
- The exchange has asked the SEC to approve the listing of the 21Shares and VanEck spot Solana ETFs
- The SEC needs to decide by March 2025
- One analyst believes that the ETF approval depends on whether Donald Trump is re-elected as US President in November
The Chicago Board Options Exchange (Choe) has filed applications with the US Securities and Exchange Commission (SEC) to list 21Shares and VanEck spot Solana exchange-traded funds (ETFs), requiring the regulator to decide by March 2025.
Cboe filed two 19b-4 form applications on July 8: 21Shares Core Solana and the VanEck Solana Trust. Now that the SEC has received the filings, and under its rules, it must decide within 240 days.
The Cboe filings come a few weeks after VanEck filed an S-1 for a spot Solana ETF with the SEC, making it the first company in the US to file for one. Following the news, the trading volume of Solana increased 26% to more than $2.8bn.
21Shares also filed its own S-1 application with the SEC in June, stating on X that they “believe this is a necessary step for the crypto industry.”
According to the Cboe, a potential Solana ETF is similar to spot Bitcoin and spot Ethereum funds, adding “much like bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that “other means to prevent fraudulent and manipulative acts and practices” exist to justify dispensing with the requisite surveillance sharing agreement.”
Outcome of a Solana ETF
Cboe already lists six of the 10 spot Bitcoin ETFs available: ARK/21Shares, Fidelity Wise, Franklin, Invesco Galaxy, VanEck, and Wisdom Tree. If, and when spot Ethereum ETFs are approved by the SEC, Cboe would list five.
It remains to be seen whether or not spot Solana ETFs receive the green light.
However, according to senior Bloomberg ETF analyst Eric Balchunas, the possibility of a Solana ETF depends on whether Donald Trump is re-elected as the US President. Balchunas believes that if Biden wins, the applications are likely “dead on arrival.”
This was a view he shared in June following 21Shares application for a Solana ETF when he said “the odds of a Solana ETF being approved” in the next 12 months may improve significantly if Trump wins this year’s election.
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Paxful co-founder agrees to plea deal, faces up to 5 years in jail
- Paxful’s lack of AML led to regulatory breaches, prompting leadership changes.
- Artur Schaback pled guilty to failing to maintain AML and KYC programs at Paxful.
- Schaback faces up to 5 years in jail and a $5 million fine, payable in installments.
Artur Schaback, co-founder and former Chief Technology Officer of the cryptocurrency exchange Paxful, has entered into a plea agreement with US prosecutors. This plea deal could result in Schaback serving up to five years in prison.
The charges against Schaback stem from failures to implement essential Anti-Money Laundering (AML) and Know Your Customer (KYC) programs, which are crucial for preventing illegal activities within financial platforms.
Details of Schaback’s plea agreement
On July 8, 2024, the United States Justice Department announced that Schaback had pled guilty to conspiring to neglect the implementation of an effective AML program at Paxful.
As part of his plea deal, Schaback has agreed to pay a $5 million fine, which will be paid in three installments: $1 million upon his guilty plea, $3 million by his sentencing date on November 4, 2024, and the final $1 million within the subsequent two years.
In addition to the financial penalty, Schaback will resign from Paxful’s board.
According to court filings, Schaback and an unnamed co-conspirator, referred to as Paxful’s “President and Chief Executive Officer,” failed to establish effective AML and KYC programs within 90 days of starting the business, as required by the Bank Secrecy Act.
This failure allowed users to create accounts and trade on Paxful without providing sufficient identifying information, making the platform a conduit for various illegal activities, including money laundering, sanctions violations, fraud, romance scams, extortion schemes, and prostitution.
The consequences of non-compliance
The lack of proper AML and KYC protocols at Paxful led to significant regulatory breaches. Undercover law enforcement officers were able to conduct trades on the platform without undergoing KYC verification.
When third parties inquired about Paxful’s AML policies, Schaback and his co-conspirator allegedly presented a policy plagiarized from another institution, knowing it was neither implemented nor enforced.
They also reportedly made exceptions to AML and KYC policies based on the trading volumes and personal relationships of certain customers.
Paxful internal disputes and leadership changes
The legal troubles of Paxful’s leadership have been compounded by internal disputes. In March 2023, Schaback sued his co-founder, Mohamad (Ray) Youssef, over control of the exchange, accusing him of misappropriation of company funds, money laundering, and sanctions evasions.
As a result, Srinivas Raju, a director at the law firm Richards, Layton, and Finger, was appointed as the exchange’s custodian.
Subsequently, in May 2023, Paxful appointed Roshan Dharia as Interim CEO to steer the company through its turbulent period.
The plea deal and impending sentencing of Artur Schaback underscore the critical importance of robust AML and KYC programs in the cryptocurrency industry.
Paxful’s case serves as a cautionary tale about the severe consequences of regulatory non-compliance, both for individuals and the companies they represent.
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Deutsche Regierung verkauft weitere 276 Millionen US-Dollar in Bitcoin (BTC)
Die deutsche Regierung bewegte innerhalb einer Stunde 3.100 BTC im Wert von 178 Millionen US-Dollar. Man darf wohl mit weiteren Verkäufen rechnen.