Friday, April 21, 2023

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Ending the week in the red

Tornado Cash developer, Alex Pertsev, has been released from Dutch prison.

Pertsev, who is currently facing allegations of facilitating money laundering, will be permitted to return home next week. However, he will be required to have electronic monitoring devices installed at his home.

In August 2022, Pertsev was arrested by authorities under suspicion of facilitating money laundering via the crypto mixer Tornado Cash. In today's news, Voyager set to be sold to Binance, BitBoy skips court, and MakerDAO to transfer $500M USDC to CoinBase Custody.

Read on!

Demystifying Turkish Cryptocurrency Owners

Cryptocurrency adoption is rapidly increasing worldwide, and Turkey is no exception. With above-average ownership rates, Turkey presents a unique opportunity to study and understand the diverse cryptocurrency user landscape. 🇹🇷

Dr. Lennart Ante, CEO of the non-profit research institute Blockchain Research Lab, breaks down a recent academic article that profiles and characterizes Turkish cryptocurrency owners.

Learn more

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The Voyage Continues!

Voyager Digital Holdings has reportedly reached an agreement with the US federal government to proceed with its $1 billion sale to Binance US.

This news comes after the Southern District of New York temporarily halted a previously reached agreement between the two firms. Voyager initially declared bankruptcy in July 2022 due to significant exposure to Three Arrows Capital. FTX then tabled a deal to purchase it, but this fell through after FTX itself declared bankruptcy.

Decrypt

BadBoy Crypto

Crypto personality Ben Armstrong, missed a court appearance ordered by a federal magistrate judge in the US.

Better known as "BitBoy Crypto," Armstrong was ordered to appear in court on April 20 to address his "harassment towards plaintiffs' counsel." Instead, he took to Twitter to mock the court order.

Armstrong is currently facing a lawsuit, alongside other influencers and celebrities, for allegedly promoting failed crypto exchange FTX, "without disclosing compensation."

Cointelegraph

MakerDAO to custody funds with Coinbase for 2.6% yield

MakerDAO, the issuer of DAI, has approved opening a real-world asset (RWA) account at Coinbase Custody.

With the decision, up to $500 million in USDC will be transferred to the exchange's custody arm, earning a yield of 2.6% annually. Coinbase will not be allowed to lend, reinvest, or use the stablecoins. Instead, it will be kept in cold storage, and Maker will be able to withdraw the funds within 24 hours.

CoinDesk