Februar 2023 – Twittervotereport

24. Februar 2023

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CoinEx Facing Lawsuit From NYAG For Failing To Register

• CoinEx, a Hong Kong-based crypto platform, is facing a lawsuit from New York Attorney General Letitia James.
• The lawsuit accuses the firm of falsely presenting itself as an exchange by not registering as a securities and commodities broker-dealer in the state.
• The NYAG’s office is seeking CoinEx to geofence New York by blocking local IP addresses, cease doing any business in the state, provide „full monetary restitution“, and pay NYAG fees.

CoinEx Sued By New York Attorney General

Hong Kong-based crypto platform CoinEx is facing a lawsuit from New York Attorney General Letitia James for allegedly falsely presenting itself as an exchange without registering as a securities and commodities broker-dealer in the state.

Allegations Against CoinEx

The petition filed on Feb. 22 in the Supreme Court of the State of New York claims that CoinEx had listed various tokens and services that qualify as securities and/or commodities under state law. Additionally, it was alleged that CoinEx had failed to comply with a subpoena issued on Dec. 22, 2022 requiring them to “provide testimony concerning the virtual asset trading activities of its platform”.

New York Regulations

When crypto platforms disregard our laws, they put New Yorkers at risk according to Twitter post by NY AG James (@NewYorkStateAG) on February 22 2023. As such, the NYAG’s office is seeking CoinEx to geofence New York by blocking local IP addresses, cease doing any business in the state, provide „full monetary restitution“, and pay NYAG fees.

History Of Crypto Lawsuits In New York

New York has been actively involved in filing lawsuits against other firms including Alex Mashinsky (former CEO of crypto lender Celsius), Bitfinex and Tether previously. This makes CoinEx just another cryptocurrency exchange facing legal action over its operations after Nexo Inc was required to pay up to $22.5 million to resolve civil claims earlier this year (Jan 2021).

Conclusion

It remains uncertain how this case will pan out but it clearly shows how authorities are clamping down on exchanges operating without proper registration or licensure from regulators in order to protect consumers from potential risks associated with cryptocurrencies

17. Februar 2023

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Sam Bankman-Fried Faces Stricter Bail Conditions: No More League of Legends

• US prosecutors are suggesting stricter bail conditions for Sam Bankman-Fried, which could prohibit him from playing his favorite video game, “League of Legends”.
• It was recently revealed that SBF had been using a VPN to watch the Super Bowl and other sports events in the past few weeks.
• The proposed restrictions would prevent Bankman-Fried from accessing the internet, mobile phones, computers, and tablets to reduce the chances of obstructing legal processes or tampering with evidence.

Stricter Bail Conditions for Sam Bankman-Fried

US prosecutors have recommended stricter bail conditions for former FTX CEO Sam Bankman-Fried (SBF), which could forbid him from playing his favorite video game, “League of Legends”. This comes after recent findings that showed SBF had used a virtual private network (VPN) to watch the Super Bowl in recent weeks.

Proposed Restrictions on SBF

The proposed restrictions would prohibit Bankman-Fried from accessing the internet, mobile phones, computers, and tablets to reduce the chances of obstructing legal processes or tampering with evidence. It is believed that SBF’s use of a VPN may provide access to messaging services like Signal which he could use to communicate with FTX staff members – potentially impacting its operations.

Popularity in Gaming Industry

SBF’s inclination toward video games has been well known and it has added to his reputation as a technology savvy entrepreneur who is fond of gaming world. However, these strict bail terms might be an end to his gaming era if they are implemented by US authorities.

Controversy Surrounding VPNs

VPNs have been heavily scrutinized by US authorities as they suspect them of facilitating illegal activities such as accessing foreign crypto sites and dark web sites. Consequently, restricting Bankman-Fried’s use of messaging services is also significant as it may impede his ability to contact FTX personnel – potentially affecting its operations.

Life on Home Arrest for SBF

Should these bail restrictions be imposed on Bankman-Fried then it could spell an end for his gaming days and significantly alter what future life will look like under home arrest for him moving forward.

9. Februar 2023

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MakerDAO Launches Plan to Build DeFi Ecosystem, Analyst Claims

• MakerDAO, the creator of DAI stablecoin, is reportedly wanting to build its own DeFi ecosystem instead of integrating it into existing protocols.
• The DeFi platform has already developed a competitor to Aave called Spark Protocol.
• MakerDAO also wants to bring EtherDAI and GHO (Aave’s stable digital currency) to the markets in order to make DAI a more unbiased world currency.

MakerDAO Wants To Build Its Own Ecosystems

The second-largest decentralized finance (DeFi) protocol by total value locked (TVL), MakerDAO, reportedly wants to build its ecosystem, according to a pseudonymous DeFi researcher called Ignas. Per a Twitter thread, the analyst claims that MakerDAO, the creator of DAI stablecoin, wants to integrate the U.S. dollar-pegged crypto asset into its own protocols and platforms instead of „existing DeFi protocols.“ The DeFi platform has already developed a competitor to Aave called Spark Protocol.

Competitor To Aave Called Spark Protocol

Ignas added that MakerDAO’s plan with its DAI Savings Rate (DSR) with a 1% annual percentage yield (APY) has failed to make Aave or Compound protocols integrate the stablecoin. MakerDAO’s main reason, according to the analyst, was to make USD Coin (USDC) users migrate to DAI. The analyst claims that MakerDAO’s plan to develop its decentralized environment comes as Aave protocol and Curve Finance are trying to create and launch their stablecoins. Per the tweet, GHO, Aave’s stable digital currency might be a direct „competitor“ for DAI.

EtherDai & Gho Stable Coins

Ignas stated that MakerDAo also wants too bring EtherDai too the markets too as well as GH02 which is Aaves‘ Sstable Digital Currency .This Asset which is known as Liquid Staking derivative(LSD0 for Ethereum (ETH) is known as thee most critical element in makers end game plan too make Dai thee unbiased world currency .

Previous Votes & Appreciation For Mushegian

Previously ,the makerdao community started ballots too save and manage Dai in Gemini Crypto Exchanges financial criisis ,the votes set thee fees for dai Too GUSD swaps at zero limiting dia exposure Too gemini ’s stables coin .In Nov 2022 one of makers founders Nikolai Mushegian passed away ,and Decentralized comunity appreciated his brilliance in developing thee stables coin & preventing massive hacks on makerdao .

Conclusion

In conclusion ,Makerdao seems Too be taking steps towards building their own ecosystems rather than integratign their assets into existing protocols like AAve or compound finance . they are propelling themselves forward by introducing new assets such as Etherdai & Ghos which will help them become an unbiased world curreny .