Binance Australia Derivatives’ license revoked, the Bitcoin white paper is hidden on modern macOS and Dogecoin prices spike after Twitter’s icon change.
Top Stories This Week
Bitcoin white paper is apparently hiding in Apples modern macOS
Satoshi Nakamotos original white paper laying out the thesis for the Bitcoin network is seemingly hiding within every modern version of the operating system for Apples Mac computers. An April 5 blog post from technologist Andy Baio revealed that a PDF of the Bitcoin white paper has apparently shipped with every copy of macOS since Mojave in 2018. Baio told Cointelegraph he was trying to fix his printer and scan a document when Nakamotos white paper first appeared. He created a prompt in Terminal that enables others to easily access the white paper.
Binance Australia Derivatives license canceled by securities regulator
The Australian Securities and Investments Commission has canceled the license of Binance Australia Derivatives after a targeted review of its operations in the country. The company’s clients will not be able to increase derivatives positions or open new positions with the platform from April 14, and existing derivatives positions must be closed before April 21. The Australian securities regulator also revealed that it has been conducting a targeted review of Binances financial services business in Australia, including its classification of retail and wholesale clients. Spot trading on Binance is still available for Australian residents.
FTX philanthropic donations have created a complex dilemma for recipients
FTX philanthropic arm had pledged $1 billion in donations toward research academics across prestigious universities. Its team, however, resigned after FTX filed for bankruptcy on November 11, 2022. Now, many scholars and researchers who were early recipients of the grant are now stuck in limbo over payment of further grants for their programs, while many studying on the FTX grant were forced to drop out of their courses due to the fear of repayment. FTX Future Funds grants were focused on research projects for the safe development of artificial intelligence, reducing catastrophic bio-risk, improving institutions, economic growth, great power relations and effective altruism, among many others.
Elon Musk changes Twitter icon to Doge after seeking lawsuit dismissal
Twitter’s traditional bird mascot was replaced on April 3 with an image of a Shiba Inu, the icon of the popular meme token Dogecoin. The update came two days after the social media platform’s CEO Elon Musk asked a United States judge to dismiss a $258 billion lawsuit filed by investors alleging the operation of a pyramid scheme to promote Dogecoin. Musks lawyers, however, argue that funny pictures and tweeting words of support do not amount to a fraud claim. As for this week, the marketing move positively impacted the altcoins price, with the DOGE token surging by over 22% one hour after the icon was changed.
US Bitcoin reaches tentative settlement to reopen Niagara Falls mining facility
Crypto miner US Bitcoin Corp has come to a tentative agreement with the City of Niagara Falls that will allow it to reopen its local mining operation, according to media reports. A state supreme court judge ordered its plant closed in early March. The settlement still requires the approval of the city council. Under the potential agreement, the company will have to pay $150,000 in fees to the city and $180,000 to reimburse legal costs and new application fees, alongside a $1 million fine. US Bitcoin Corp must also implement measures to reduce noise at the plant, including building a noise-dampening wall and submitting to third-party monitoring.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $27,928, Ether (ETH) at $1,857 and XRP at $0.51. The total market cap is at $1.18 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Injective (INJ) at 21.19%, Enjin Coin (ENJ) at 17.75% and Basic Attention Token (BAT) at 9.19%.
The top three altcoin losers of the week are Mask Network (MASK) -15.39%, Stacks (STX) at -14.84% and Arbitrum (ARB) -13.88%.
For more info on crypto prices, make sure to read Cointelegraphs market analysis.
Most Memorable Quotations
Creators deserve to be rewarded for their original work being used by AI engines which are raiding the style and tone of not only journalists but […] musicians, authors, poets, historians, painters, filmmakers and photographers.
Michael Miller, executive chairman of News Corp Australia
The objective of a CBDC within the framework of the payment system in Peru is to give the unbanked population access to digital payments.
How can we supervise firms that have no physical borders? We need to put more thought into how it [international coordination] can be effective in regulating the crypto world.
Elizabeth McCaul, supervisory board member of the European Central Bank
As investors adapt to volatility, they are diversifying their portfolios and adding more innovative products. Even with a tumultuous year in crypto, interest hasnt cooled entirely.
The possibilities that Web3 can offer are vast and only limited by our own imaginations.
Haider Rafique, global chief marketing officer at OKX
AI technology and its effects on privacy is a priority for my Office. […] We need to keep up with and stay ahead of fast-moving technological advances.
Philippe Dufresne, privacy commissioner of Canada
Prediction of the Week
Bitcoin rests at $28K as US jobs data boosts new Fed rate hike bets
Bitcoin’s price is still ranging around $28,000 at the end of the week as the BTC/USD pair shunned volatility over the previous days. The highly anticipated U.S. nonfarm payroll figures came in slightly below expectations on April 7, indicating unemployment rising more slowly than predicted.
The data also raised market expectations that the Federal Reserve would persist in raising interest rates to combat inflation at the expense of crypto and risk asset performance.
Michal van de Poppe, founder and CEO of trading firm Eight, summarized his expectations. Bitcoin remains in a boring state of mind. Consolidating for weeks, while old altcoins are breaking out, he noted. Im still looking at support here, through which $27,600 needs to sustain. If thats lost, $25,000-25,400 seems likely. Holding here through NFP -> $30,000 next.
FUD of the Week
US state regulators announce $10M settlement with Robinhood for failing investors
The California Department of Financial Protection and Innovation announced a settlement with crypto and stock trading platform Robinhood involving an up to $10.2 million payment in penalties for operational and technical failures that harmed main street investors. The platform suffered a series of system outages in March 2020 causing users to miss out on trades while many of its services were unavailable. The platforms outages led some affected users to file a class-action lawsuit against Robinhood. The U.S. Financial Industry Regulatory Authority also penalized the firm for roughly $70 million for causing widespread and significant harm to thousands of users.
Sentiment recovers $870K after negotiations with hacker
Lending protocol Sentiment managed to recover over $870,000 in stolen funds by offering the hacker a bounty worth $95,000. The protocol was exploited on April 4, with losses closer to $1 million. In a transaction on the Arbitrum blockchain, Sentiment sent a message to the hacker offering $95,000 if the funds were returned by April 6, and urging the hacker to do the right thing. Community members criticized crypto companies for not taking bug bounties seriously and praised the hackers efforts for taking it by force.
OpenAI faces Canadian privacy probe alleging personal info harvesting
OpenAI, the creator of the artificial intelligence chatbot ChatGPT, is under investigation by Canadas privacy commissioner for allegedly collecting and using personal information without consent. Canadas investigation comes as Germany, France, Ireland and Spain eye possible action against AI following a temporary block on ChatGPT in Italy. In the United States, the Center for Artificial Intelligence and Digital Policy (CAIDP) filed a March 30 complaint with the Federal Trade Commission in an attempt to halt the release of powerful AI systems to consumers.
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