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2 Brothers Who Made $7 Million with Shiba Inu (SHIB) Pick Up its Competitor Set to Skyrocket 24055% Next Analytics Insight
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Winklevoss twins who are the founders of the cryptocurrency company Gemini got their excess Bitcoin donation to Donald Trump’s presidential campaign returned because the contributions they made exceeded the maximum legal limit.
Cameron and Tyler Winklevoss each contributed $1 million in Bitcoin to the Trump campaign, a contribution that exceeded the $844,600 limit for individuals to contribute to political campaigns.
Winklevoss Brothers Trump Bitcoin Campaign Donation Returned
A campaign official, speaking anonymously, clarified that the excess amount was refunded to the Winklevoss twins, each $ 155,400. However, whether the refund was in Bitcoin or its cash equivalent remains to be determined. The Trump campaign has accepted Bitcoin donations, reflecting the former president’s embrace of the cryptocurrency community.
The contributions are divided among Trump’s campaign, his leadership political action committee, the Republican National Committee, and 42 state GOP committees.
Such donations arrived as Trump sided with the crypto community and voiced against the democrats’ efforts to regulate the industry. The Winklevoss twins, who are also known for their Bitcoin investment, have openly supported Trump and labelled him as a “pro-Bitcoin” and “pro-crypto” candidate.
Regulatory Challenges and Industry Relations
Gemini, a crypto exchange founded by the Winklevoss twins, has also been through some regulatory challenges such as a settlement with the U. S. and New York state financial regulators and a lawsuit by the Securities and Exchange Commission (SEC).
Nevertheless, the Winklevoss brothers still stand for Trump and consider him as the protector of the crypto industry from regulatory actions. Some activities that demonstrate Trump’s crypto friendship are his meetings with Bitcoin miners in a recent round table.
Although Trump has been charged with 34 felonies and has faced numerous other legal issues, he still leads the Republican presidential race. His engagement with the crypto industry is a part of a larger effort to garner support from the business community and tech elites. This approach is different from the current administration led by the President Joe Biden as the Winklevoss twins and other enthusiasts of the cryptocurrency have alleged that the administration is against the industry by coming up with regulations.
Crypto PAC and Electoral Influence
Likewise, Stand With Crypto PAC has also turned out to be quite active in endorsing the candidates who support the cryptocurrency business.
This PAC has endorsed 18 candidates for the upcoming elections, pointing to the increasing political power of crypto voters.
The PAC stated that over 52 million people in America own digital currency, and a majority of them want a new financial system. This group is a swing vote, with several stating that they would not vote for politicians against cryptocurrencies.
Read Also: Pro-Bitcoin Donald Trump Declares Himself “Crypto President”
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The US Department of Justice (DOJ) has arrested two brothers accused of orchestrating an attack on the Ethereum blockchain that resulted in the theft of $25 million worth of crypto.
Anton Peraire-Bueno of Boston and James Pepaire-Bueno of New York are charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering.
12-Second Ethereum Exploit
The DOJ indictment alleges that the defendants fraudulently exploited the Ethereum blockchain’s integrity to obtain the substantial sum within a brief 12-second timeframe. The brothers were arrested in Boston and New York and are scheduled to appear before magistrates for their respective districts.
Deputy Attorney General Lisa Monaco described the alleged scheme as a “technologically sophisticated” and meticulously planned” endeavor executed within seconds.
The indictment reveals that the defendants plotted the exploit for several months, employing their computer science and mathematics knowledge and expertise in crypto trading to manipulate the Ethereum blockchain’s protocols.
By tampering with pending transactions, Anton Peraire-Bueno and James Pepaire-Bueno gained unauthorized access and altered the movement of Ethereum’s price, ultimately stealing $25 million from unsuspecting victims.
Brothers Face Maximum Prison Sentence
US Attorney Damian Williams for the Southern District of New York emphasized the case’s significance, asserting that the defendants’ actions doubted the blockchain’s integrity.
The indictment highlights the defendants’ alleged exploitation of protocols relied upon by “millions of Ethereum users worldwide.”
Despite the novelty of the scheme, which is the first of its kind to manipulate the Ethereum blockchain, prosecutors from the Southern District of New York vowed to pursue those who attack financial systems.
They emphasized that no matter how sophisticated the fraud or unique the techniques used, the office will hold the perpetrators accountable.
Special Agent in Charge Thomas Fattorusso of the IRS Criminal Investigation (IRS-CI) New York Field Office stressed that the unit followed the money trail in this case, using “cutting-edge technology” and traditional investigative methods both on and off the blockchain.
Fattorusso highlighted the alleged manipulation of the Ethereum blockchain, where the defendants fraudulently accessed and altered pending transactions to steal cryptocurrency from victims. Fattorusso further alleged:
These brothers allegedly committed a first-of-its-kind manipulation of the Ethereum blockchain by fraudulently gaining access to pending transactions, altering the movement of the electronic currency, and ultimately stealing $25 million in cryptocurrency from their victims.
If convicted, Anton Peraire-Bueno and James Pepaire-Bueno could face a maximum prison sentence of 20 years for each count.
At the time of this report, Ethereum is trading at $2,982, indicating a 3% increase in price over the past 24 hours. This upward trend follows Bitcoin, which has surged by 5.5% during the same period as it strives to regain the $65,000 milestone.
Featured image from Shutterstock, chart from TradingView.com
Brothers That Made Millions With Cardano (ADA) Now Move Their Focus To Option2Trade (O2T) At $0.0091 NullTX
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Shiba Inu Turned 2 Unemployed Brothers To Millionaires, New … Analytics Insight
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Rags To Riches: Jobless Brothers From New York Became … Benzinga
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Rags To Riches: Jobless Brothers From New York Became Millionaires After Investing In ‘Dogecoin Killer’ — Benzinga
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The Gemini founders filed for the first Bitcoin ETF with the US SEC ten years ago, which was rejected for almost the same reason the recent BlackRock and Fidelity products were dismissed.
The need for a regulated Bitcoin product, including an Exchange Traded Fund (ETF), is undoubtedly mounting on the United States regulators as institutional investors, led by BlackRock Inc (NYSE: BLK) with nearly $10 trillion in Assets Under Management (AUM), pushes to enter the crypto industry. With the $1 trillion crypto market estimated to overtake that of precious metals in the coming years, amid ballooning global inflation, the demand for well-structured digital assets like Bitcoin and Ethereum can not be ignored.
As a result, the political divide between the Democrats and Republicans has increased when it comes to ways to regulate the nascent industry. According to the Biden administration, perhaps a view shared by most Democrats in Congress, most digital assets are unregulated securities, and investors should prepare for the digital dollar through FedNow soon.
On the other hand, some politicians including presidential aspirant Robert F Kennedy Jr, Bitcoin, and other crypto assets are integral parts of the financial freedom that needs to be protected. As a result, experts forecast a great rift in next year’s US presidential election on matters pertaining to crypto assets.
Winklevoss Brothers Criticize the SEC for Not Approving Safe Bitcoin ETF Products
According to Cameron Winklevoss, one of the Gemini exchanges co-founders, the SEC has pushed American crypto investors to risky products and firms like FTX for failing to approve safer avenues to access the nascent crypto market. Notably, Gemini filed for a Bitcoin ETF ten years ago but the SEC rejected the filing.
Today marks 10 years since @tyler and I filed for the first spot Bitcoin ETF. The @SECGov‘s refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here’s why:
-“protected”… pic.twitter.com/xmK1xo1iX8
— Cameron Winklevoss (@cameron) July 2, 2023
According to the SEC, the Bitcoin market is heavily controlled by wash trading and there are no mechanisms to avoid mass fraud. However, Cameron noted that the SEC needs to cease overstepping its statutory powers in regulating the crypto industry.
“Maybe the SEC will reflect on its dismal record and instead of overstepping its statutory power and trying to act like the gatekeeper of economic life, it will focus on fulfilling its mandate of investor protection,” he noted.
Notably, the crypto investor highlighted that some investors have been forced to enter the digital asset industry through regulated and risky products like Grayscale Bitcoin Trust (GBTC), which he referred to as toxic. Worth noting that Gemini and Digital Currency Group (DCG)- backed Genesis Trading are under court supervision after failing to meet a reasonable deal on defaulted loans.
Meanwhile, the SEC has dismissed the recent Bitcoin ETF frenzy for lacking clarity and asked the respective firms to review their filings. The Bitcoin ETF frenzy significantly helped BTC price rebound from trading below $25k to as high as $30.8k in the past few weeks.
This whale brothers who own $50M of Bitcoin (BTC) and $35M of Shiba Inu (SHIB) are backing RenQ Finance Bitcoinist
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Pac-Man Frog (PAC) Is Eyeing A Kraken Listing, Joining Big Brothers Dogecoin (DOGE) and ApeCoin (APE)New cryptocurrencies are being issued every day, and there is fierce competition amongst them in order to be listed on leading crypto exchanges such as Binance, Coinbase (NASDAQ:), FTX, Kraken, and others.
Projects that have ambitions to be listed on these exchanges must fulfil a list of stringent requirements and sometimes have to pay major amounts of money in order to be featured on such leading and selective exchanges as Coinbase or Binance.
This article will present Pac-Man Frog (PAC), a project in its presale that aims at listing its token, PAC, on Kraken, in the wake of other explosive cryptocurrencies such as (DOGE) or ApeCoin (APE). Will it succeed in that endeavour?
Pac-Man Frog (PAC)
Pac-Man Frog is an up-and-coming project that is set to build a thriving decentralised community that would lead the way for the web 3.0 revolution through NFT and metaverse initiatives.
The goal of the Pacman Frog project is to help game developers and entrepreneurs get started and make early-stage venture investing more accessible to everyone. It wants to build a dedicated incubator and gaming branch that will help innovators by giving them access to capital, a community, and the chance to form connections with other blockchain-based gaming and NFT projects.
Pac-Man Frog aims at developing a one-stop aggregator gathering all things DeFi, games, NFTs, among others. Based on the information available on its website, the project will have a simple launchpad, an NFT launchpad, a game incubator, an NFT aggregator, a GameFi (Gaming Finance) NFT marketplace, and a user onboarding platform.
Besides, PAC will represent a governance tool, conferring voting rights to its holders, who will be able to voice their opinion within the project’s Decentralised Autonomous Organisation (DAO).
Pac-Man Frog ambitions to list its native token, PAC, on Kraken, one of the leading crypto exchanges today. Were that listing to be successful, this event would be a major catalyst for PAC, setting strong hopes for the project’s future.
Let’s see if Pac-Man Frog will follow in the steps of popular Dogecoin and ApeCoin!
Dogecoin (DOGE)
A clear favourite of popular entrepreneur Elon Musk, Dogecoin has risen to become a leading cryptocurrency with nearly $19 billion in market cap. This attention was a boon for the cryptocurrency, which reached its all-time high nearly a year ago, soaring past the $0.70 mark.
DOGE started out as a joke project aimed at mocking cryptocurrencies in 2013, but the support of its loyal community and attention from popular personalities propelled it to the fore, now rivalling in size other “serious” projects like (AVAX), (DOT) or Polygon (MATIC).
Since then DOGE’s price has dropped hard, now standing around $0.14. However, Dogecoin has been working towards creating additional utility for its currency, DOGE, in order to become more than a simple meme coin.
Notably, the Dogecoin Foundation announced a number of initiatives in its 2022 roadmap, such as the creation of a digital content library called Dogepedia, a so-called “Dogecoin standard” acting as a sort of whitepaper for Dogecoin, along with the Gigawallet.
This last solution will take the form of an easy-to-setup API solution which will enable external developers to start processing DOGE transactions in a few minutes. This Gigawallet will be non-custodial, meaning that it will let users control their own private keys instead of centralising them on the platform’s server.
With these initiatives, Dogecoin therefore embraces the decentralised finance (DeFi) revolution and insists on giving back the power to the community by developing solutions that are focused on the individual.
On top of that, Musk also stated that Tesla (NASDAQ:) would start taking DOGE payments at its charging stations last month. The latest twists in the Musk x Twitter (NYSE:) saga have also contributed to generate some fluctuations in the price of DOGE over the past two weeks.
On the whole, DOGE remains an interesting cryptocurrency which you can find on most global exchanges!
ApeCoin (APE)
Having started trading a month ago, ApeCoin is yet another head-spinning crypto success story, having multiplied its price by more than 10 within its first week of trading.
Impressively, ApeCoin was featured within the top 10 most traded tokens following its launch, with important ApeCoin volume being exchanged between the ten largest wallets.
ApeCoin is based on Yuga Labs’ Bored Apes yacht club (BAYC) and aims to grow the APE ecosystem. To this day, BAYC is still one of the most popular NFT collections ever made, with many renowned personalities buying one or more Bored Apes for themselves as an investment or simply as a collectible.
The success of this NFT collection is understandable when you realise that owning a Bored Ape (or Mutant Ape, an alternative collection issued by the same lab) isn’t limited to that. Owners of a BAYC/MAYC NFT, you can be invited to private events in mansions, yachts, and other prestigious venues along with other popular celebrities.
Essentially, APE allows you to access exclusive games and services within the APE ecosystem. Besides, APE is a governance token, meaning that it gives its holders a say in ApeDAO, Apecoin’s decentralised autonomous organisation and any important project initiatives.
APE is now trading at $15.13, down over 4% over the last day. A great investment for those seeking exposure to the BAYC NFT collection and its dynamic ecosystem.
Find out more information on the Pac-Mac Frog Website, Telegram, Instagram or Twitter. You can also find more about presale here.
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