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Steven Nerayoff, an early adviser to the Ethereum network, has filed a $100 million lawsuit against the law firm Covington & Burling. He claims the firm mishandled his defense in a 2019 extortion case, causing significant personal and professional harm.

Nerayoff and his associate, Michael Hlady, were arrested in September 2019, accused of extorting a cryptocurrency startup. The lawsuit, filed on September 6 in New York, alleges that Nerayoff’s attorney, Alan Vinegrad, failed to present key evidence, such as videos and emails proving the legality of his actions. This evidence, submitted in June 2022, led to the dismissal of the charges in May 2023.

Nerayoff contends that proper handling could have prevented the charges, saving him over $1 million in legal fees and lost business opportunities. Covington & Burling denies the claims and intends to defend itself. This lawsuit is one of several legal actions Nerayoff has initiated this year.

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Binance’s Indonesian subsidiary, Tokocrypto, has received a full Physical Crypto Asset Trader (PFAK) license from Indonesia's Commodity Futures Trading Regulatory Agency, Bappebti. This milestone allows Tokocrypto to operate as a licensed crypto asset trader, reinforcing Binance’s and Tokocrypto’s commitment to regulatory compliance.

In its statement, Binance expressed excitement over the license, emphasizing its significance in the development of Indonesia’s crypto industry. Tokocrypto initially applied for the license in 2019 and met all regulatory requirements to secure approval.

Tokocrypto CEO Yudhono Rawis highlighted that it is the third exchange in Indonesia to receive this license, out of 35 potential crypto exchanges. The license builds trust among investors and solidifies the company’s role in Indonesia’s growing crypto ecosystem.

Binance CEO Richard Teng praised the achievement, citing it as a reflection of the company’s vision to create a transparent, secure, and regulated crypto trading environment in Indonesia.

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On Tuesday, the social media accounts of Lara and Tiffany Trump were hacked, spreading false information about a crypto project called World Liberty Financial. Eric Trump confirmed the scam and assured that the accounts were swiftly locked.

The fake posts claimed that World Liberty Financial aimed to decentralize financial power through a governance crypto token, $WL, on the Solana blockchain. These tokens were falsely advertised as facilitating micropayments and DeFi lending protocols. The hoax featured a fake website providing instructions on how to acquire these non-existent tokens.

This incident is part of a broader context of the Trump family’s engagement with the cryptocurrency space, particularly during election periods. It also underscores the risks of misinformation in the decentralized finance (DeFi) market, which, while revolutionary, remains vulnerable to scams. Donald Trump’s campaign continues to explore digital assets, aiming to position the U.S. as a leader in the crypto sector.

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Bitcoin continues to face downward pressure, trading below $57,000 as the broader cryptocurrency market shows weakness. According to data from CryptoRank, major digital currencies are in the red, with Ethereum (ETH) down 5.39%, Binance Coin (BNB) by 4.52%, and Bitcoin (BTC) by 4.24%. The total market capitalization has fallen by 4.07%, now at $2.09 trillion, with Bitcoin’s dominance slipping to 53.49%.

Despite the decline, some altcoins have performed well. UXLink (UXLINK) leads with a 36.6% gain, followed by EtherVista (VISTA) and Nibiru (NIBI), which rose by 13.2% and 12.8%, respectively. BarnBridge (BOND) increased by 12.3%, while Rollbit Coin (RLB) gained 11.9%, providing optimism amidst a bearish market.

At press time, Ethereum is priced at $2,399.59, while Binance Coin trades at $498.14. Bitcoin stands at $56,558.25, reflecting a 4.46% drop

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The United Nations expressed concerns over Telegram CEO Pavel Durov's recent arrest in France, where he faces charges related to the platform’s operations. Detained on August 24 at Le Bourget Airport, Durov has been banned from leaving France, drawing international attention. The crypto community, which values privacy and decentralization, views his detention as an attack on free speech, while critics argue that Telegram’s leniency on illegal activities has prompted legal action.

The UN, monitoring the case, highlights potential human rights violations. Ravina Shamdasani from the UN Human Rights Office acknowledged its complexity and emphasized balancing legal obligations with digital freedoms. This incident is seen as part of a broader government crackdown on platforms, raising concerns about the future of decentralized systems. The outcome of Durov’s legal battle could shape the future of privacy-focused platforms, influencing regulatory approaches to privacy and decentralization in the crypto world.

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Bitcoin ATM scams in the U.S. have surged, with losses surpassing $110 million in 2023, a tenfold increase since 2020. Older adults, especially those over 60, are disproportionately targeted, as scammers pose as officials or tech support agents. Victims are often deceived into transferring funds via Bitcoin ATMs by scanning a QR code linked to the scammer’s wallet.

With over 32,000 Bitcoin ATMs in the U.S., scammers exploit the anonymity of cryptocurrency to steal funds quickly. For example, 76-year-old Indiana resident Marilyn LoCascio lost $31,500 after being tricked by fraudsters posing as tech support and government officials.

Bitcoin ATM operators, like Bitcoin Depot, are implementing fraud prevention measures but acknowledge the difficulty in stopping all scams. In response, California’s AB39 bill, effective July 2025, will introduce stricter regulations, including daily deposit limits and mandatory audits, to enhance oversight of Bitcoin ATMs.

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Ripple CEO Brad Garlinghouse announced that Ripple’s dollar-pegged stablecoin, RLUSD, is nearing public release. Currently in private beta, RLUSD is expected to launch within weeks, aiming to complement XRP and challenge stablecoin leaders like USDT and USDC. Ripple’s move into the stablecoin market follows USDC’s brief de-pegging, positioning RLUSD as a potential competitor. In June, Ripple President Monica Long confirmed RLUSD had been tested on two blockchains.

Garlinghouse also addressed regulatory challenges, emphasizing Ripple's reluctance to pursue a U.S. IPO due to SEC scrutiny. Despite legal battles, including a court decision lowering the SEC fine to $125 million, Garlinghouse remains optimistic. He criticized SEC Chairman Gary Gensler for stifling the crypto space but expressed hope for better regulations after the 2024 U.S. elections. Ripple’s future hinges on RLUSD’s success and ongoing regulatory challenges.

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In an extraordinary turn of events, Ripple Labs’ astronauts on a Mars mission made a discovery that has intrigued both the scientific and cryptocurrency communities. During a routine exploration, astronaut David S. found mysterious coins buried beneath the Martian surface, featuring a three-eyed creature with a cryptic smile. Made from an unidentified metal with inscriptions in an unknown language, these coins puzzled translation software, leaving the team without answers.The coins also emitted a mysterious energy, leading to the accidental activation of a holographic map. Following its directions, the crew discovered a small Martian cafe called "The Last Stop Before The Void," run by the humorous Brad G., who served them cosmic cappuccinos and frothy beer with floating stardust. News of this discovery quickly spread on Earth, sparking scientific speculation, conspiracy theories about ancient Martian civilizations, and even becoming the subject of late-night comedy.

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The cryptocurrency market has seen notable movements, particularly with Solana (SOL) and Dogecoin (DOGE). According to Crypto Rover, a crypto YouTuber, Solana's trading volume has rapidly decreased, raising concerns about $SOL's sustainability. Currently, SOL is trading at $132.65, down 0.60%, with a 24-hour trading volume surge of 84.22% to $2.44 billion. Despite an initial rise to $136, SOL's price has consolidated around $130-$132, showing weak bullish momentum. Key support levels are at $130, $128, and $126, while resistance lies at $134 and $136.

In contrast, Dogecoin (DOGE) shows signs of a potential rebound. Trading at $0.09741, DOGE has dropped 1.92% in the last 24 hours. A bullish divergence against the RSI on the 4-hour chart and a TD indicator buy signal suggest a positive outlook. Critical support lies at $0.096, with resistance at $0.099 and $0.10, signaling potential for a trend reversal.

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Crypto analyst Mando CT has expressed a bullish outlook on XRP, urging accumulation ahead of a potential significant breakout. In a recent X post, he outlined his strategy of accumulating XRP, believing that a breakout could lead to a parabolic rise in its price. Despite Bitcoin's recent volatility, Mando highlighted a clear bullish divergence forming in XRP’s charts, often signaling an upward trend.

The ongoing legal battle between Ripple Labs and the U.S. SEC also adds to the optimism. Mando predicts that a favorable settlement could act as a major catalyst for XRP, driving its price to new heights.

Supporting this view, analyst Egrag Crypto emphasized the importance of the 133 bullish hammer candles on XRP’s chart, noting that similar patterns in the past have led to significant gains. Egrag suggests XRP could surge by 2,400% to $17 or even 5,000% to $27, if historical trends repeat. Currently, XRP is trading at $0.554.

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South Korean authorities have launched a thorough investigation into Telegram, the encrypted messaging app, over its alleged involvement in distributing sexually explicit deepfake content, particularly targeting South Korean women. The probe, led by the National Office of Investigation, comes in response to public outrage over the spread of deepfake pornography within Telegram chatrooms. The platform, already scrutinized for holding $400 million in digital assets by the end of 2023, faces further backlash following the recent arrest of its CEO, Pavel Durov.

The investigation, reported by Yonhap, highlights the app’s potential role in cybercrimes. South Korean authorities, aligning with global efforts, are intensifying measures against digital sexual exploitation. Statistics from Security Hero reveal that 53% of individuals in deepfake pornography are South Korean celebrities. The government is also considering stricter laws to criminalize the purchase or viewing of such content. Although Durov was released from police custody, he remains under investigation in France and is restricted from leaving the country.

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XRP has garnered significant attention after breaking out of a well-defined downtrend channel, signaling a potential shift from bearish to bullish momentum. Analyst XRP CAPTAIN on X noted that this breakout positions XRP for a possible rise to $0.60. The price had been constrained within two descending trendlines, with the upper boundary acting as resistance. However, XRP has now breached this resistance, suggesting a potential reversal. The previous resistance level at $0.5650 could become new support, aligning with the analyst's $0.60 target, based on the channel's height—a common method for estimating breakout targets.

In a related analysis, Cryptoinsightuk highlighted Solana's recent performance relative to XRP. Solana, once a momentum trade, has declined by 25% over the past four months compared to XRP. The monthly Relative Strength Index (RSI) for Solana is nearing bearish territory against XRP, indicating a potential momentum shift favoring XRP in the near term.

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The price of POPCAT has surged significantly following Binance Futures' announcement of a new USD-Margined perpetual contract for the token on August 22, 2024. The POPCAT USDT perpetual contract allows for up to 75x leverage, triggering a 22% price increase within 24 hours. POPCAT's price hit $0.7434, with trading volume reaching $156,591,547. Over the past week, the token has surged 80%, outperforming the broader crypto market, which rose 8.60%, and meme-based cryptocurrencies, which saw a 20% rise.

In addition to POPCAT, Binance Futures also launched a SUN USDT perpetual contract with similar 75x leverage and risk management features, including a tick size precision of 0.000001 and a capped funding rate of ±2.00%. These new contracts have sparked increased market activity, offering traders new opportunities for leverage and diversification.

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Bitcoin interest in the United States has surged to a 39-day high following signals from the Federal Reserve hinting at upcoming interest rate cuts. Julio Moreno, head of research at CryptoQuant, highlighted this increase in a recent X post, noting that demand spiked as the Fed suggested a shift towards lower rates. This rise in interest is reflected in the Coinbase Premium Index, which hit 0.0114, its highest level since July 15, indicating strong US buying pressure.

The surge follows Fed Chair Jerome Powell's remarks at the Jackson Hole symposium, where he hinted at potential rate cuts without specifying the timing. In response, Bitcoin’s price rose 5.08% to $64,193, briefly peaking at $64,957 before stabilizing below $65,000. Despite this positive momentum, the market remains cautious due to the high cost of mining Bitcoin, estimated at $72,224, and ongoing concerns about potential selling pressure.

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WazirX, one of India’s largest crypto exchanges, has announced the partial withdrawal of customer funds in Indian Rupees (INR) nearly a month after a $230 million hack. Starting September 26, customers can access 66% of their funds. WazirX has also reduced withdrawal fees by 60%, lowering the charge from ₹25 to ₹10, simplifying the process for users.

However, 34% of INR balances remain frozen, with withdrawals occurring in two stages: 50% of the available funds can be withdrawn between August 26 and September 8, with the remainder accessible from September 9 to 22. While the platform holds sufficient reserves, it plans to file a restructuring application in Singapore’s High Court to ensure an equitable distribution of crypto assets.

The July 18 hack, linked to the notorious Lazarus Group, resulted in the theft of $230 million, including tokens like Ethereum (ETH), Shiba Inu (SHIB), and Polygon (MATIC).

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XRP is gaining momentum as a solution to global liquidity challenges in the banking sector. Ripple is strategically positioning XRP to enhance the efficiency of cross-border payments and liquidity management. Crypto analyst SMQKE highlighted XRP’s potential, referencing Ripple’s documents that outline XRP’s role in addressing banking inefficiencies.

Traditionally, banks hold large, idle currency reserves for international transactions. Ripple envisions XRP as a digital asset that can instantly transfer value, reducing the need for these reserves. Stefan Thomas, Ripple’s former CTO, described XRP as “gold” that can be quickly moved globally, providing unprecedented liquidity management.

XRP’s effectiveness has already been proven, especially in Japan, where its speed and low costs have made it a preferred choice. SMQKE also noted XRP’s importance under Basel III regulations, suggesting that XRP could help banks maintain liquidity more dynamically. Ripple’s long-term strategy is focused on integrating XRP into the global financial system for widespread adoption.

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Polygon, a prominent blockchain platform, recently experienced a significant security breach in its community Discord channel. Mudit Gupta, Polygon’s Chief Information Security Officer, confirmed the incident, urging users to avoid interacting with any shared links until the issue is resolved. Despite Gupta's assurance that high-privilege accounts had two-factor authentication enabled, the breach has raised concerns about the platform's security.

The breach has already impacted the Polygon community, with reports of scammers posing as support agents in the Discord server. One community member, ValidatorK, revealed a loss of $150,000 in Ether due to an interaction with a fraudulent announcement. This incident is part of a broader trend of increasing cyberattacks in the crypto sector, following similar breaches in platforms like Arbitrum and Gnus.AI.

This security lapse coincides with Polygon's ongoing upgrade, set to replace its native token with POL tokens, highlighting the persistent vulnerabilities in digital finance.