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Market Cap: $ 2 657 812 442 801 / 24h Vol: $ 121 051 195 043 / BTC Dominance: 52.283941158984%

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SBF risks 115 years in jail, Binance’s FUD, and auditors quit crypto: Hodler’s Digest Dec. 11-17

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Top Stories This Week

FTX founder Sam Bankman-Fried arrested, set to be extradited to US

Sam Bankman-Fried was taken into custody by the Royal Bahamas Police Force and is likely to stay there until February, after his application for bail was denied in Bahamian court. A second application for bail has been reportedly filed by SBF in the Supreme Court of the Bahamas. His arrest came after the United States government officially filed criminal charges against him including eight counts of fraud. If convicted, Bankman-Fried could face 115 years in jail, but legal commentators have told Cointelegraph there is a lot to play out in the case. The domino effect resulting from FTX’s meltdown has also impacted the professional lives of Bankman-Fried’s parents, resulting in their courses at Stanford Law School being canceled. In other recent developments regarding FTX, a class-action lawsuit against Silvergate Bank was filed in California, aiming to hold the bank accountable for its alleged roles in placing FTX user deposits into the bank accounts of Alameda Research.

Binance ‘put FTX out of business’ Kevin O’Leary

Venture capital investor Kevin O’Leary claimed at a U.S. Senate committee hearing that Binance and FTX were at war with each other, and one put the other out of business intentionally. The hearing was part of a larger investigation by lawmakers into FTX’s collapse, in which Binance had a significant role, OLeary claimed. Recent days have seen Binance beset by fear, uncertainty, and doubt (FUD), resulting in a drop in the exchange’s liquidity. Crypto analytics firm Nansen reports that Binance had net withdrawals of more than $3.6 billion from Dec. 7 to Dec. 13.

Rep. Tom Emmer mulls bringing back bill aimed at reducing crypto red tape

United States lawmakers are under pressure to enact crypto regulations in light of the collapse of FTX, and Congressman Tom Emmer believes that this is probably a good time to re-introduce a bipartisan bill that would lift requirements for certain crypto businesses and projects to register as Virtual Asset Service Providers (VASPs). The bill, titled the Blockchain Regulatory Certainty Act, aims to remove some hurdles and requirements for blockchain developers and service providers, such as miners, multi-signature service providers and decentralized finance platforms.

No more proof-of-reserve checks? Auditors quietly drop crypto projects from portfolios

Two of the most prominent auditors have suddenly stopped offering crypto auditing services. At a critical moment for the crypto industry, Mazars Group removed Binance’s proof-of-reserve audits from its website just days after confirming the crypto exchange controlled 575,742 Bitcoin. The decision affected other crypto exchanges using Mazars’ services, such as Crypto.com and KuCoin. Later, Mazars explained the pause was due to concerns regarding the way these reports are understood by the public. Accounting firm Armanino has also ended its crypto auditing services. Armanino has worked with several crypto trading platforms like OKX, Gate.io and the embattled FTX exchange.

MetaMask to allow users to purchase and transfer Ethereum via PayPal

In another move into the crypto space, PayPal teamed up with MetaMask parent company ConsenSys to allow the purchase and transfer of Ether (ETH) through its platform. By logging into the MetaMask app, users will be able to access their PayPal account and complete transactions. Initially, only selected PayPal users in the United States will be able to test the service. Other traditional payments companies are seeking to integrate crypto into their services. In October, Western Union also filed three trademarks for managing digital wallets and exchanging digital assets.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $16,826, Ether (ETH) at $1,194 and XRP at $0.35. The total market cap is at $817.82 billion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Toncoin (TON) at 30.36%, Bitcoin SV (BSV) at 10.11%, and OKB (OKB) at 9.77%.

The top three altcoin losers of the week are Neutrino USD (USDN) at -33.77%, Trust Wallet Token (TWT) at -27.43%, and Chain (XCN) at -23.42%.
For more info on crypto prices, make sure to read Cointelegraphs market analysis.

Most Memorable Quotations

“Binance is a massive unregulated global monopoly now, and they put FTX out of business.”

Kevin O’Leary, venture capital investor

I supposed it made sense. The kid was young, the principles were revolutionary, the ideas were golden. […] Who was I to challenge that?

Danielle Cloud, former FTX employee

Our experience to date of [crypto] platforms, whether FTX or others, is that they are deliberately evasive, they are a method by which money laundering happens in size.

Ashley Alder, appointed chair of the United Kingdom’s Financial Conduct Authority

Just as we are protective of our physical assets, we need to make sure that people protect their digital assets and personal information within the metaverse.

Andrew Newman, chief technology officer and co-founder of ReasonLabs

Looking forward, pretty much everyone who could go bankrupt has gone bankrupt.

Arthur Hayes, former CEO of BitMEX

Prediction of the Week

Bitcoin dips under $17K as craziest rumors over Binance sink BTC price

Bitcoin fell below $17,000 as traders remained wary over Binance’s FUD triggering overly bearish BTC price action. On Bitstamp, BTC/USD reached multi-day lows of $16,928 on Dec. 16, according to Cointelegraph Markets Pro and TradingView data. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States.

Interesting to see everyone suddenly so bearish on BTC as if it’s solely acting so weak. SPX is doing exactly the same, maybe even weaker, noted Michal van de Poppe, founder and CEO of trading firm Eight, questioning whether the Binance FUD really had a role to play in the markets.

FUD of the Week

Microsoft bans cryptocurrency mining on cloud services

Microsoft has quietly banned crypto mining from its online services to increase the stability of its cloud services and better protect customers from risks like cyber fraud, attacks and unauthorized access to resources, according to a report. The new restrictions were introduced on Microsoft’s universal license terms, citing that mining cryptocurrency is prohibited without prior Microsoft approval. With this move, Microsoft joins other cloud computing providers, including Google, who also prohibit customers from mining cryptocurrency without prior written consent.

‘Third-party incident’ impacted Gemini with 5.7 million emails leaked

Gemini appears to have suffered a data breach from a third-party vendor. Hackers gained access to 5,701,649 lines of information related to Gemini customers’ email addresses and partial phone numbers, per documents obtained by Cointelegraph. According to Gemini, the breach was caused by a third-party vendor, but it also warned of ongoing phishing campaigns. The leaked database did not contain any sensitive personal information such as names, addresses and other Know Your Customer information.

SEC sues Atlas Trading for $100M stock manipulation scheme

The United States Securities and Exchange Commission (SEC) filed a claim against eight individuals associated with the Discord-based forum Atlas Trading for alleged stock manipulation. The SEC reported that bloggers made at least $100 million by acquiring substantial positions in securities, recommending them to their followers, and then selling their shares to capitalize on the demand they generated by their deceptive promotions. Cryptocurrencies and other digital assets were not mentioned in the complaint.

Best Cointelegraph Features

Should crypto projects ever negotiate with hackers? Probably

Some security experts think negotiating is a smart way to get back most of the stolen funds, while others argue you should never give in to extortion.

Can Bitcoin survive a Carrington Event knocking out the grid?

A massive Carrington Event-level solar storm could knock out the majority of electronics on earth. Would crypto survive everything going offline at once?

Listen up! Cointelegraph launches crypto podcasts, starting with 4 shows

Want more crypto content? Cointelegraphs new podcast section features four separate shows exploring a variety of impactful topics.

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  • 07.09.23 16:24 CherryTeam

    Cherry Team atlyginimų skaičiavimo programa yra labai naudingas įrankis įmonėms, kai reikia efektyviai valdyti ir skaičiuoti darbuotojų atlyginimus. Ši programinė įranga, turinti išsamias funkcijas ir patogią naudotojo sąsają, suteikia daug privalumų, kurie padeda supaprastinti darbo užmokesčio skaičiavimo procesus ir pagerinti finansų valdymą. Štai keletas pagrindinių priežasčių, kodėl Cherry Team atlyginimų skaičiavimo programa yra naudinga įmonėms: Automatizuoti ir tikslūs skaičiavimai: Atlyginimų skaičiavimai rankiniu būdu gali būti klaidingi ir reikalauti daug laiko. Programinė įranga Cherry Team automatizuoja visą atlyginimų skaičiavimo procesą, todėl nebereikia atlikti skaičiavimų rankiniu būdu ir sumažėja klaidų rizika. Tiksliai apskaičiuodama atlyginimus, įskaitant tokius veiksnius, kaip pagrindinis atlyginimas, viršvalandžiai, premijos, išskaitos ir mokesčiai, programa užtikrina tikslius ir be klaidų darbo užmokesčio skaičiavimo rezultatus. Sutaupoma laiko ir išlaidų: Darbo užmokesčio valdymas gali būti daug darbo jėgos reikalaujanti užduotis, reikalaujanti daug laiko ir išteklių. Programa Cherry Team supaprastina ir pagreitina darbo užmokesčio skaičiavimo procesą, nes automatizuoja skaičiavimus, generuoja darbo užmokesčio žiniaraščius ir tvarko išskaičiuojamus mokesčius. Šis automatizavimas padeda įmonėms sutaupyti daug laiko ir pastangų, todėl žmogiškųjų išteklių ir finansų komandos gali sutelkti dėmesį į strategiškai svarbesnę veiklą. Be to, racionalizuodamos darbo užmokesčio operacijas, įmonės gali sumažinti administracines išlaidas, susijusias su rankiniu darbo užmokesčio tvarkymu. Mokesčių ir darbo teisės aktų laikymasis: Įmonėms labai svarbu laikytis mokesčių ir darbo teisės aktų, kad išvengtų baudų ir teisinių problemų. Programinė įranga Cherry Team seka besikeičiančius mokesčių įstatymus ir darbo reglamentus, užtikrindama tikslius skaičiavimus ir teisinių reikalavimų laikymąsi. Programa gali dirbti su sudėtingais mokesčių scenarijais, pavyzdžiui, keliomis mokesčių grupėmis ir įvairių rūšių atskaitymais, todėl užtikrina atitiktį reikalavimams ir kartu sumažina klaidų riziką. Ataskaitų rengimas ir analizė: Programa Cherry Team siūlo patikimas ataskaitų teikimo ir analizės galimybes, suteikiančias įmonėms vertingų įžvalgų apie darbo užmokesčio duomenis. Ji gali generuoti ataskaitas apie įvairius aspektus, pavyzdžiui, darbo užmokesčio paskirstymą, išskaičiuojamus mokesčius ir darbo sąnaudas. Šios ataskaitos leidžia įmonėms analizuoti darbo užmokesčio tendencijas, nustatyti tobulintinas sritis ir priimti pagrįstus finansinius sprendimus. Pasinaudodamos duomenimis pagrįstomis įžvalgomis, įmonės gali optimizuoti savo darbo užmokesčio strategijas ir veiksmingai kontroliuoti išlaidas. Integracija su kitomis sistemomis: Cherry Team programinė įranga dažnai sklandžiai integruojama su kitomis personalo ir apskaitos sistemomis. Tokia integracija leidžia automatiškai perkelti atitinkamus duomenis, pavyzdžiui, informaciją apie darbuotojus ir finansinius įrašus, todėl nebereikia dubliuoti duomenų. Supaprastintas duomenų srautas tarp sistemų padidina bendrą efektyvumą ir sumažina duomenų klaidų ar neatitikimų riziką. Cherry Team atlyginimų apskaičiavimo programa įmonėms teikia didelę naudą - automatiniai ir tikslūs skaičiavimai, laiko ir sąnaudų taupymas, atitiktis mokesčių ir darbo teisės aktų reikalavimams, ataskaitų teikimo ir analizės galimybės bei integracija su kitomis sistemomis. Naudodamos šią programinę įrangą įmonės gali supaprastinti darbo užmokesčio skaičiavimo procesus, užtikrinti tikslumą ir atitiktį reikalavimams, padidinti darbuotojų pasitenkinimą ir gauti vertingų įžvalgų apie savo finansinius duomenis. Programa Cherry Team pasirodo esanti nepakeičiamas įrankis įmonėms, siekiančioms efektyviai ir veiksmingai valdyti darbo užmokestį. https://cherryteam.lt/lt/

  • 08.10.23 01:30 davec8080

    The "Shibarium for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH. The Plot Thickens. Someone posted the actual transactions!!!! https://bscscan.com/tx/0xa846ea0367c89c3f0bbfcc221cceea4c90d8f56ead2eb479d4cee41c75e02c97 It seems the article is true!!!! And it's also FUD. Let me explain. Check this link: https://bscscan.com/token/0x5a752c9fe3520522ea88f37a41c3ddd97c022c2f So there really is a "Shibarium" token. And somebody did a rug pull with it. CONFIRMED. But the "Shibarium" token for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH.

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