This Week on Crypto Twitter: Binance Faces More Insider Trading Allegations – Decipher

Illustration by Mitchell Preffer for Decrypt

Crypto this week was a mixed bag. After three consecutive weeks of growth, the fourth full week of 2023 saw Bitcoin prices virtually unchanged from last weekend, and while Ethereum depreciated slightly, several altcoins like Aptos (APT), Axie Infinity ( AXS) and Avalanche (AVAX) managed significant rallies.

On Monday, Coinbase chief Conor Grogan alleged that there had been some pretty obvious insider trading at Binance over the past 18 months. It is not the first time such allegations have been made.

Last weekend, researchers at crypto financial services platform Matrixport said the end of the first day of the Chinese New Year was a optimum time to open long positions in crypto because, based on the last eight years, selling 10 days later yields an average profit of 9%. Their the results were widely shared on Monday.

Tuesday Crypto Whale News Account @unusual_whales announced the latest assets seized by authorities in the ongoing investigation into disgraced former FTX CEO Sam Bankman-Fried. And we all thought he lived up to his Last 100,000 dollars!

That day, the bitcoin-obsessed authoritarian president of El Salvador, Nayib Bukele, published a series of bestselling articles criticizing his decision to force his country to accept bitcoin as legal tender. In his feed, he wants everyone to know that El Salvador is doing very well. That day, his government paid an $800 million bond that had come due.

Crypto lender Genesis claims it owes a Roger Ver, also known as “Bitcoin Jesus,” $21 million. roger have other ideas and responded that Genesis had to be solvent before fulfilling their obligations, as allegedly stipulated in their contract.

Republican U.S. Representative Bill Huizenga on Tuesday had harsh words for the U.S. Securities and Exchange Commission, a regulator that has stepped up efforts to control the crypto industry after the recent spate of bankruptcies.

Also that day, Twitter user Paul (@darkport) found a fascinating exit clause buried in the legal bumf of Porsche’s NFT knock page. According to Paul, a clause like this opens discussions about the redeemability of NFTs – discussions that regulators would no doubt like to hear more of.

twitter user @Degentralandwho regularly tweets about NFTS, released considerable stats on the launch week of Yuga Labs’ Bored Ape Yacht Club (BAYC)-inspired new crypto-integrated arcade game on Wednesday. Dookey Dash.

The official Robinhood Twitter account was pirate middle of the week. Fortunately, it was an obvious hack. Binance CEO Changpeng Zhao helped sound the alarm.

Crypto analyst Adam Cochran took offense when the official McDonalds account appropriated some trendy cryptographic language.

Thursday crypto user @AutismCapitalwho regularly rants about industry news, has published a full article list of ftx creditors.

And on that note, news also emerged this week that FTX executives were throwing their capital behind disgraced New York Congressman Republican George Soros, who is currently on the wrong side of a criminal investigation by the Department of Justice for being – allegedly – a compulsive crook, and definitely a liar.

Finally, one of the Bored Ape Yacht Club founders had a somber announcement to make on Saturday and will be taking his leave of space.

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