Category: News, NFT News

Here’s what happened in crypto today — TradingView News

By Published On: May 10, 20242.9 min readViews: 3000 Comments on Here’s what happened in crypto today — TradingView News

Binance co-founder and DWF Labs speak out against Wall Street Journal allegations. Donald Trump’s gala dinner for his “Mugshot” NFT holders saw a fair share of memorable quotes from the former U.S. president. Meanwhile, several U.S. lawmakers hope to temporarily ban crypto mixers.

Binance co-founder and DWF Labs speak out against Wall Street Journal allegations

Executives from Binance and DWF Labs have responded to allegations of market manipulation brought forth by the Wall Street Journal (WSJ) on May 9.

Following an earlier report concerning a WSJ article describing an alleged internal investigation into DWF Labs, one of Binance’s largest trading clients, wherein the Journal supposedly found that it engaged in market manipulation, wash trading and inflated trading volumes with approximately $300 million worth of funds in question, Binance and DWF Labs executives have commented further.

Binance and DWF Labs categorically deny the claims and insist no such market manipulation occurred.

Cointelegraph

Per DWF Labs the allegations are “unfounded and distort the facts,” as the firm “operates with the highest standards of integrity, transparency, and ethics, and we remain committed to supporting you and our over 700 partners across the crypto ecosystem.”

Three memorable moments from Donald Trump’s “Mugshot” NFT event

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Former United States President Donald Trump made more than a few memorable quotes as he hosted a gaggle of nonfungible token (NFT) enthusiasts at his Florida home on Wednesday.

One of the first clips to make the rounds on social media included Trump vowing to provide a better regulatory environment for crypto businesses and entrepreneurs by removing the “hostility” toward crypto

Nothing to see here, just Donald Trump casually bragging that he pulled the #NFT sector out of a bear market.

“We made NFTs hot again.”

pic.twitter.com/U6gJEivSgZ

May 09, 2024

“Gensler is very much against it. The Democrats are very much against it [but] I’m fine with it, I want to make sure it’s good and solid and everything else, but I’m good with it.”

Trump also claimed that his Mugshot NFTs and other collections “made NFTs hot again” at a time when the NFT market seemingly lost its steam — which received an uproar of cheer from attendees.

To no one’s surprise, Trump isn’t a fan of the Joe Biden-linked Jeo Boden (BODEN) meme coin, which currently boasts a market capitalization of over $260 million.

“That’s a lotta, money for a coin, I don’t like that investment,” he said.

Proposed U.S. Blockchain Integrity Act would ban crypto mixers for two years

A quintuplet of U.S. Democrats has introduced a bill to the House of Representatives that, if effected, would temporarily ban the use of cryptocurrency mixers.

Dubbed the “Blockchain Integrity Act,” the proposed legislation would impose a civil penalty of up to $100,000 on financial institutions caught handling funds from mixers.

Cointelegraph

The temporary measure would go into effect for a period of two years, purportedly giving lawmakers sufficient time to compile a report citing specifics pertaining to mixer use and its effects.

Predictably, the response from the crypto community has been unapologetically vitriolic. Numerous users have suggested that the U.S. dollar and similar fiat currencies are used to finance terrorism and that cryptocurrencies are being unnecessarily singled out or used as a scapegoat to avoid addressing other systemic global and financial concerns.

Additional reporting by Geraint Price, Ana Paula Pereira, Sam Bourgi and Felix Ng.




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