South Korean High Court Sentences Crypto Scammer to 9 Years in Jail ‼️

🔔 A branch of the South Korean High Court has jailed a convicted crypto scammer who operated a bogus token trading platform for nine and a half years. Per Seoul Kyungjae, the case was heard at the Busan High Court (Ulsan Tribunal) on November 12. The scammer, unnamed for legal reasons, was originally sentenced to serve eight years by an Ulsan-based district court. But the High Court upheld the scammer’s guilty verdict – and increased the jail term after hearing additional evidence from prosecutors.

📣 The court heard that the individual, named as A in the national media, told victims that they could use “crypto market manipulation” methods to make “x50 profits” on their initial stakes. The court heard that the bogus crypto exchange was operational from March to August 2019. Prosecutors said that A had “advertised” the platform on social media channels. The scammer raised almost $1 million from “about 90 victims,” the court heard.

⚠️ A claimed that the platform made use of a sophisticated piece of software “developed in-house” that manipulated crypto prices. A also tried to promote a cryptoasset that they claimed could be used to pay at “convenience stores, department stores, and gas stations.” But the court heard that A was in debt to the tune of about $0.5 million when making these claims, and was on probation while operating the scheme.

Talos and Uniswap Forge Landmark Deal to Boost DeFi Access for Institutions 📣


📌 Talos – a digital trading infrastructure provider – has teamed up with Uniswap and Fireblocks to connect institutional traders to the decentralized finance (DeFi) ecosystem.

⬆️Per a press release from Uniswap on Thursday, Talos’s clients will be able to use the protocol’s trading APIs to access trading for thousands of tokens with their familiar Talos order book format.

🔔 Once launched, Talos clients can execute orders on Uniswap using its time-weight average price (TWAP) algorithm – a widely used price oracle mechanism designed to exclude short-term price manipulations.

⚠️The integration will allow Talos’s strategies to seamlessly interact with both centralized and decentralized liquidity venues and help achieve best execution.

Anton Katz, CEO and Co-Founder of Talos, stated:

“At the cornerstone of the DeFi ecosystem, Uniswap has the breadth of assets and depth of liquidity that institutional traders need… Together, we share a vision of making digital assets more accessible in a financial marketplace that’s more open.”

✔️ Uniswap is the world’s largest decentralized exchange (DEX) and liquidity venue, currently boasting $3.6 billion in TVL, according to DeFiLlama.

Hong Kong Chief Executive Expresses Willingness to Cooperate on Granting More Powers to Regulate Crypto Exchanges 📣

🟢The Chief Executive of the Hong Kong Special Administrative Region, John Lee, has responded to the recent investigation into the unlicensed virtual-asset trading platform Hounax.

🔼 On November 27, Chief Executive John Lee addressed the recent virtual platform supervision fraud and emphasized the importance of government supervision to protect investors and crack down on unlicensed platforms. According to a local news blog, he expressed a willingness to cooperate with regulators and grant additional powers if needed to crack down on unlicensed crypto exchanges.

He said,

💬“If it is necessary to provide power to regulatory agencies, the government will actively cooperate.”

✔️ His comments highlight the need for government supervision to protect investors and combat unlicensed platforms in the crypto space, as the recent Hounax fraud case follows a similar incident involving JPEX, a crypto exchange. The JPEX exchange scandal received over 2,000 complaints and resulted in approximately $180 million in losses.

🔴 A total of 66 individuals have been arrested in connection with the JPEX scandal. In response to these events, local regulators in Hong Kong are strengthening crypto regulations to prevent future industry catastrophes.

IBM Unveils New Cold Storage Technology for Enhanced Crypto Asset Security ⚠️

⬆️ IBM has announced the release of the latest technology designed to enhance the security of cold storage for digital assets, aiming to revolutionize the way cryptos are managed and protected.

➡️The IBM Hyper Protect Offline Signing Orchestrator (OSO) is specifically developed to overcome the challenges associated with traditional methods of cold storage for digital assets. By integrating advanced security features such as disconnected network operations, time-based security, and electronic approval by multiple stakeholders, OSO represents a significant leap in protecting high-value transactions.

📌In the announcement blog, IBM wrote, “OSO is designed to address limitations of current cold storage offerings for digital assets, including the need for people to perform manual procedures for the execution of a cold storage transaction.”

⚡️ Further elaborating on the functionality, the blog explained, “Hyper Protect OSO provides a policy engine that brokers communication between two different applications that have been designed not to communicate directly with each other for security purposes.”

SBF Decides Against Filing Post-Trial Motions, Shifts Focus to Appeal 📣

⚠️The lawyers of disgraced FTX founder, Sam Bankman-Fried, have decided to not file any post-trial motions following his fraud conviction on November 2nd, according to a letter filed by his attorneys on December 1st.

💬 “After further consideration, we have decided not to file any post-trial motions,” wrote Bankman-Fried’s attorneys in a letter to Judge Lewis A. Kaplan. “We reserve our rights to pursue any claims on appeal.”

➡️ Depending on the kind, a granted post-trial motion has the potential to change the result of a trial entirely. The decision by Bankman-Fried’s defense suggests that they will be focusing their efforts on an appeal.

🔝“Mr Bankman-Fried maintains his innocence and will continue to vigorously fight the charges against him,” said defense attorney, Mark Cohen, in a statement shortly following his client’s conviction.

House Committee Unanimously Passes Pro-Blockchain Bill 🔥

🔴 The House Committee on Energy has voted unanimously to approve a new piece of legislation entitled the “Deploying American Blockchains Act.”

📌 According to the brief, the bill would “direct the Secretary of Commerce to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes.”

⚠️ The brief notes that the Secretary of Commerce would “serve as the principal advisor to the President” regarding policy issues related to blockchain technology.

© Moreover, the bill would require the Secretary of Commerce to spearhead a “Blockchain Deployment Program” that would “support American leadership in the deployment and use of blockchain technology and other distributed ledger technology, applications built on blockchain technology or other distributed ledger technology, tokens, and tokenization.”

📉 Led by efforts from Congresswoman Lisa Blunt Rochester (D-DE) and Congressman Larry Bucshon (R-IN), the bill has even garnered approval from some of the crypto industry’s biggest voices, including the Blockchain Association and the Chamber of Digital Commerce.

🤖 Grok Truck Fairlaunch on Pinksale. It has potential for next Gem. Strong marketing team behind it !

GROK TRUCK - The world's first meme community of Cybertruck concept design by AI. In November 2019, Elon Musk sent ripples through the automotive industry when he unveiled the Tesla Cybertruck. The Grok Truck community decided to add their twist to the Cybertruck with Grok AI, resulting in a concept that blends car and truck elements.

🎯Our objective is to cultivate a community, offering meme token rewards to augment the allure of the Cybertruck concept car.

🔗PinkSale Fairlaunch: https://www.pinksale.finance/launchpad/0x9736f82fD984D3208101C0fD8F69D1473f9B0e30?chain=BSC&refId=0xFfE71872306546Db522B112EaEE17D8EEaccAB3e


✔️Starts: 2023.12.08 13:00 (UTC)
✔️Ends: 2023.12.09 13:00 (UTC)

✅Audit Certificate: Click

KEY FEATURES
🚗Grok + Cybertruck concept
🚗Hype by Elon Musk's Tweet
🚗Audited
🚗Low Tax 5/5⚙️
🚗No team tokens
🚗CMC+CG Fastrack

🚗Top KOLS,CT influencers🎯
🚗Explosive marketing campaign🌆
🚗Major Cex listings
🚗Renounce contract after launch

🚀Upcoming target Listings:
🎯 Bitmart
🎯 MEXC

TELEGRAM
https://t.me/GrokTruckGlobal

💎 WEEKLY GEMS ANNOUNCEMENT 💎

You know what time it is.
That's right, time for GemPad's Weekly Gems!

Get ready for another educational session where you'll get all the useful information for projects launching on GemPad. 🔥

⏰ Time and date: 7th of December 3pm UTC
🔶Venue: https://www.binance.com/en/live/video?roomId=2167283

This week we'll have 3 projects sharing the spotlight:

✉️Meme Alliance
https://t.me/RealElmoERC

✉️Safenet
https://t.me/Tr8bit_official

✉️BandZai
https://t.me/bandZaiOfficial


✖️Don't forget to like and retweet: https://twitter.com/TheGemPad/status/1732444745891299426

Political Movement The Other Party Reveals Plan for Blockchain-based Democracy in the UK ✔️

🔼 The Other Party debuted in the UK today with a commitment to decentralize power and restore it to the public using blockchain technology.

🔗 According to a statement published on its website, The Other Party aims to shake up conventional centralized political systems, fostering a more direct and transparent democratic process by harnessing the potential of blockchain technology.

💬“Our mission is to remove the centralized power of politicians and return it to the hands of the people,” The Other Party founder Dom Ryder said. “By leveraging blockchain technology, we are ensuring every voice is heard, every vote counts and every decision is transparent and incorruptible.”

🎤 One of The Other Party’s initiatives involves the issuance of “governance passports” to UK voters in the form of NFTs. These passports serve as a digital identity on the blockchain, ensuring that votes “immutable, traceable and protected from tampering or undue influence,” according to the party.

❓ The concept revolves around verifying eligibility while upholding the anonymity of voters involved in decision-making. This approach empowers each passport holder to actively propose, vote on, and directly implement policies.

🔴The Other Party also emphasized that any elected representatives from the party would be under a legal obligation to adhere to decisions made by their constituents rather than conforming to a party line.