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Binance in Crisis: Senior Execs Quit Over CEO's Response to DOJ Investigation
Leadership crisis at Binance, Bitcoin's resilience, Litecoin's rising popularity, and more.
Welcome to Daily Digest, where we surface trending news in crypto-based on conversations we found on Twitter, news publications, blog posts, and other social media, powered by the Coinfeeds platform.
Here are the trending news items over the last 24 hours. If you’d like to see even more updated news and trending news updated in real-time on our website
Binance in Crisis as Senior Execs Quit Over CEO's Response to DOJ Investigation
Senior members of Binance's legal and compliance team left the company this week due to CEO Changpeng Zhao's handling of regulatory investigations. The departures represent a management and strategic crisis for Binance, especially as they come from units that deal directly with regulators. The executives reportedly left due to Zhao's response to an ongoing investigation by the Department of Justice. Binance is already facing regulatory lawsuits and rumors of a criminal complaint by the Justice Department. Despite speculation about Zhao stepping aside, he has shown no indication of doing so.
Bitcoin Survives Longest Bear Market Ever
Bitcoin has survived its longest bear market ever, according to various methods of defining bear and bull markets. If the traditional definition of a bear market is used, Bitcoin would have exited its bear market in early January when it crossed $20,000. However, it is still too early to determine if Bitcoin is truly back in a bull market.
Litecoin Surpasses Bitcoin as Most Used Cryptocurrency on BitPay
Litecoin has surpassed Bitcoin as the most used cryptocurrency on the BitPay payment platform. Its addition to BitPay in October 2021 contributed to its rise in popularity, thanks to its low fees, fast transaction processing times, and active development community. This achievement highlights Litecoin's growing importance and utility as digital money.
Kraken Co-Founder Under Federal Investigation for Alleged Hacking
Crypto exchange Kraken co-founder Jesse Powell is under federal investigation for allegedly hacking and cyberstalking a non-profit organization he founded. The investigation is based on allegations from Verge Center for the Arts that Powell hindered their computer accounts, obstructing access to emails and messages.
Vitalik Buterin Praises Bitcoin Ordinals
Vitalik Buterin believes that the introduction of Bitcoin Ordinals has brought back a "builder culture" to the network, signaling a rejection of stagnant politics. In a conversation with Bitcoin proponents, Buterin praised Ordinals and the BRC-20 token standard for encouraging action and pushing back against the laser-eye movement.
Aptos Foundation Twitter account hacked to promote fake airdrop
A Twitter account belonging to the Aptos Foundation appears to have been hacked, with those responsible directing people to a fraudulent website that offers the chance to participate in a fake airdrop on the Ethereum blockchain. Aptos CEO Mo Shaikh's Twitter account also appears it may have been hacked as part of the scam attempt.
Stay tuned for more updates next week!