Binance and KuCoin complete registration with India's Financial Regulator

📝 Both Binance and KuCoin have successfully registered with the Financial Intelligence Unit of India.

😁 Following a $41,000 fine, KuCoin has resumed its activities in the region.

Binance's financial penalties are still pending determination.🧐

It is anticipated that Binance will restart its regional operations once the fine is settled.

😎 Hi friends! Don't forget to subscribe to the Daily 🐲 Drops channel, where today the first 💵 cash prize giveaway will take place for our most active subscribers.

🔜 The start of the application process for participation in the giveaway will be announced on Crypto soothsayer channel later today.

Trading rice and a tablet without the Internet: Sam Bankman-Fried on life in prison

👀 In a recent interview from Brooklyn Detention Center, FTX founder Sam Bankman-Fried (SBF), currently serving a 25-year sentence, claims he's adapting well.

🍚 He's trading rice, maintaining his vegan diet, and engaging in prison life while awaiting a July appeal. Despite the significant lifestyle change, SBF, who's lost 11 kg, asserts he's in good spirits, even finding prison offers unique arbitrage opportunities.

🙈FTX founder reflects on the past, suggesting negligence as his downfall, not criminal actions, and still disputes his criminal responsibility for FTX's collapse.

🐲 Hello again! We're excited to announce that we are now accepting applications for participation in our daily prize giveaway from our channel.

To enter the draw, please follow these steps:

1️⃣React to this message with 👾 emoji

2️⃣Share this message with a friend

3️⃣Fill out the Google form.

4️⃣Subscribe to the Daily Drops channel, where the results will be posted

💰The prize pool of $50 will be distributed as follows:

◾1st place - $20 USDT
◾2nd place - $10 USDT
◾3rd place - $8 USDT
◾4th place - $4 USDT
◾5th place - $4 USDT

👆All payments will be made in $TON at the current exchange rate at the time of the giveaway. Five winners will be randomly selected using a randomizer.

✔️ The form can be filled out within four hours after this post is published, and the result of the draw will be announced after the results have been processed and published on the Daily Drops channel.

🎉 Congratulations to the winners of the first cash prize giveaway from the Crypto Soothsayer channel!

▪️1st place - $20 USDT - @javadraeisi99
▪️2nd place - $10 USDT - @Andrii_Lifintsev
▪️3rd place - $8 USDT - @CHRISTIM
▪️4th place - $4 USDT - Muhammad Hanif
▪️5th place - $4 USDT - Nomad

💰 All prizes have been paid to the winners in $TON at the current exchange rate.

⚡️Stay with Crypto Soothsayer to keep up with the latest news from the world of cryptocurrencies!

U.S. President Joe Biden is making targeted efforts to destroy the cryptocurrency industry in the country, Charles Hoskinson, co-founder of Cardano, has stated.

👀 According to the expert, over the past few years, the U.S. government has been consistently detrimental to startups. He cited restrictions on access to bank accounts and SEC policies, which have been compounded by "obstacles" in the legislative process.

"Voting for Biden is a vote against the American cryptocurrency industry"

- Hoskinson commented.

👆 These remarks followed a statement from the White House administration indicating the president's readiness to veto a bill aimed at repealing SEC guidelines that prevent banks from providing digital asset custody services.

🗣 Hoskinson also criticized the Commission for using outdated standards, which "should not apply to new, evolving asset classes."

"The Securities Exchange Act was passed in 1933, and to say it is adequate to regulate cryptocurrencies that emerged 90 years later is absurd."

The U.S. Department of Justice has appointed an independent monitor for Binance

🇺🇸 The U.S. Department of Justice has appointed the company Forensic Risk Alliance (FRA) as an independent monitor for Binance.

👀 FRA will be responsible for ensuring Binance's compliance with the plea agreement.

✔️ The company will also have access to internal reports, facilities, and employees of the company to gather information about the exchange's activities and report it to the government.

The fraudster returned almost all of the stolen funds to the victim user — 22,960 ETH worth $67 million!

He previously agreed that he would return the funds with the fact that he would receive a 10% reward. 🧐

✋ Hello folks! First, some information regarding yesterday's prize giveaway. Some of you misunderstood the poorly phrased question in the Google form (the last one), so here's an important clarification:

❗️ You need to provide a TON-wallet address to which we will transfer the funds you win. If the address is incorrect, we will simply choose the next participant on the list.

Here is an example of the address you should provide:

UQCPFT**********************************************v40d

👆 This must be an address from the TON network (not Ethereum or any other network). Also, do not provide exchange wallets because without a tag your funds will simply be lost. Finally, considering the low fees (about $0.01) in the network, you will have no problem transferring funds from the wallet to an exchange.😉

The rest of the terms remain unchanged:

1️⃣React to this message with 👾 emoji

2️⃣Share this message with a friend

3️⃣Fill out the Google form.

4️⃣Subscribe to the Daily Drops channel, where the results will be posted

💰The prize pool of $50 will be distributed as follows:

◾️1st place - $20 USDT
◾️2nd place - $10 USDT
◾️3rd place - $8 USDT
◾️4th place - $4 USDT
◾️5th place - $4 USDT

👆All payments will be made in $TON at the current exchange rate at the time of the giveaway. Five winners will be randomly selected using a randomizer.

✔️ The form can be filled out within four hours after this post is published, and the result of the draw will be announced after the results have been processed and published on the Daily Drops channel.

🎉 Congratulations to the winners of the first cash prize giveaway from the Crypto Soothsayer channel!

▪️1st place - $20 USDT - Mimah_aUQD8XXtCGHfxRE74VKcjTrGG0InVFlyyaBDicB1bk0myqXnJnkendi
▪️2nd place - $10 USDT - Annieshealthtips
▪️3rd place - $8 USDT - @Alpha240
▪️4th place - $4 USDT - @supolbellz
▪️5th place - $4 USDT - 09016916426

💰 All prizes have been paid to the winners in $TON at the current exchange rate.

⚡️Stay with Crypto Soothsayer to keep up with the latest news from the world of cryptocurrencies!

💵 Commission fees within the Ethereum network have reached their lowest points since January 2020

To illustrate, ➡️ sending USDT or any ERC20 token now only incurs about $1 for users, while trading on Uniswap can be as inexpensive as $3.

✔️ The decline in fees commenced following the Dencun hard fork, with one of its key features being the adoption of EIP-4844. This update introduced the Proto-Danksharding option, aimed at scalability through the creation of a new transaction type for handling large binary data arrays (BLOB).

Bitcoin Magazine partnered with Trump to craft a cryptocurrency regulatory proposal

👀 According to David Bailey, CEO of Bitcoin Magazine, the publication has been collaborating with Donald Trump's campaign team for the past month to draft a framework for cryptocurrency regulation.

📝 The magazine suggested that Trump issue a comprehensive executive order on his first day in office.

💰 Additionally, the project team aims to raise $100 million for Trump's reelection campaign.

😁 During a recent gathering with his supporters, Trump urged all cryptocurrency enthusiasts to support him, trolling a jab at Biden's age in the process.

Brad Garlinghouse suggests that the US government is targeting Tether

🤵 Brad Garlinghouse, the CEO of Ripple, recently hinted that Tether, the issuer of USDT, might be the next focus of regulatory scrutiny by the US government. Garlinghouse emphasizes Tether's significant role within the cryptocurrency market system but expresses uncertainty regarding the potential repercussions on the market.

🗒 Several months ago, government agency reports suggested that Tether (USDT) was utilized as a payment method by terrorist organizations, for illicit financing, and money laundering. Tether's executives responded to these allegations by affirming that USDT had never been involved in large-scale illegal activities and that any minor instances of misuse had been promptly addressed.

Network activity in BTC has reached a minimum 👀

After the halving, there was fear and indecision, which is positive for the market 📈

Currently, activity has dropped to 2019 levels.

The CEO of Ripple spreads FUD about USDT as his company prepares to launch its own stablecoin - CEO Tether

🗣 Paolo Ardoino responded to the rumors spread by Brad Garlinghouse. He stated that Tether complies with regulatory requirements in jurisdictions worldwide:

▪️Tether operates on OFAC/SDN lists.

▪️A highly qualified team analyzes transactions. Cooperation with Chainalysis allows more effectively identify wallets associated with illegal activities and sanctions evasion.

▪️Tether has collaborated with 124 law enforcement agencies in over 40 countries since its creation,

▪️Tether has frozen wallets with $1,300,000,000+ for all time.

▪️Tether voluntarily responded to 198 law enforcement requests to freeze wallets (90 requests from the US government in the past 12 months.

▪️Tether has frozen over $639,000,000 at addresses in collaboration with the US government,

▪️Tether directly collaborates with law enforcement agencies, while other stablecoin issuers require a court order to freeze addresses.

Biden faces increasing criticism from the cryptocurrency community

👀 Hayden Adams, the founder of the largest DEX Uniswap, believes that Joe Biden may lose future US presidential elections due to his administration's dismissive attitude towards the cryptocurrency market.

➡️ According to the entrepreneur, the "total war" being waged by the SEC and Senator Elizabeth Warren against the industry is a significant misstep by Biden's team, "both in terms of voters and money."

Mark Cuban has also joined the critics of Biden's cryptocurrency policy.

💰The entrepreneur's tweet came in response to an article in Politico. The article discusses how Biden's competitor, Donald Trump, became the first presidential candidate to openly try to attract cryptocurrency users.

🍸 At an event promoting his own NFT collection,Trump announced the acceptance of donations in digital assets. He promised to protect the industry if elected and emphasized that the current president "doesn't even know" what cryptocurrency is.

Inflow crypto funds has returned after four weeks of outflows.

💰 The influx into cryptocurrency investment products from May 4th to May 10th amounted to $130 million, according to calculations by CoinShares.

💲The trading volume of ETPs (Exchange-Traded Products) decreased from an average of $17 billion in April to $8 billion.

⬇️ The share of ETPs in the total turnover of digital assets on trusted exchanges decreased from 31% to 22%.

👀 Clients directed $144 million into bitcoin-related instruments, compared to an outflow of $251 million in the previous reporting period.

El Salvador has launched a website confirming the country's bitcoin reserves.

As of today, 🇸🇻 El Salvador holds 5748 BTC worth $360 million.

👍 The country is purchasing one bitcoin per day.

Crypto exchange Rain was hacked for $14.8 million.

👀 Analyst ZachXBT reported that the crypto exchange Rain was likely hacked for $14.8 million.

🙀 The exploit occurred on April 29, 2024. Suspicious outflows of BTC, ETH, SOL, and XRP were discovered on the exchange's wallets. All withdrawn funds were converted into BTC and ETH.

Rain is popular in the 🏜Middle Eastern market.