Blockchain DXB: Crypto & Coffee at 8 ☕ 🚨 Dubai: 12th Feb 🚨 💥 Fraud Case Against Digital Currency Group ❌ Binance delists Monero ❗ Feb more supply of Aptos, Sandbox, Avalanche, Apecoin & Optimism

12th Feb : Crypto & Coffee at 8
💥 Fraud Case Against Digital Currency Group ❌ Binance delists Monero ❗ Feb more supply of Aptos, Sandbox, Avalanche, Apecoin & Optimism

🚨 NY Attorney General Letitia James has expanded a fraud lawsuit against Digital Currency Group (DCG) and Gemini, alleging that they are responsible for $3 billion in investor losses. The initial lawsuit, which claimed that DCG cheated people out of $1 billion, has grown as more investors have come forward with losses related to the defunct Gemini Earn program. She asserts that the companies misled investors by falsely assuring them that their money was safe. She also stated the company is responsible for $3 billion in investor losses tied to the Gemini Earn product and to direct investments with Genesis, according to a new court filing here https://lnkd.in/dKipGY-9

💡 As many as 230,000 individuals suffered losses totalling up to $3 billion, as revealed by the attorney general’s investigation. Check out Blockchain DXB Crypto & Coffee at 8 podcasts we share our commentary on this. Also see slides 1 & 2 for a global snapshot of the crypto market.

🔴 Binance delists Monero & the price of Monero is down by over 20% since the last 7 days
- On February 20, 2024, Binance announced the delisting of several tokens, including Monero (XMR), Aragon, Multichain, and Vai. The news of this delisting caused XMR’s value to drop to its lowest point in five months on February 6. Binance will cease all trading pairs involving Monero, which includes pairs with Bitcoin, Ether, Tether, and Binance’s native coin, BNB. Withdrawals for XMR tokens will no longer be supported after May 20, 2024.

🚨 Binance stated that its decision to delist these tokens is based on various factors, including their contribution to the health of the crypto ecosystem, ethical conduct, and responsiveness to due diligence requests.

⚡ More Aptos, Sandbox, Avalanche, Apecoin & and Optimism are set to flood onto the market this month for the first time. More Supply = Less Demand. Following are some of the key dates when these tokens will issue more coins
- Aptos — 11th Feb 7.3% (224.82M)
- Sandbox — 14th Feb 9.19% ($96M)
- Apecoin — 16th Feb 2.6% ($21.84M)
- Avalance — 21st Feb 2.6% ($365.5M)
- Optimism — 28th Feb, 2.52% ($82.87M)
⚡ More info via Decrypt0 https://lnkd.in/da_kpKQH

💡 Simple Economics: More Supply = Less Demand = Price to go down

🟠 Two UAE news (See slides)
⚡ Institutional Crypto Presence Expands in UAE With $250 Million Digital Asset Platform Bridgetower Capital and Deus X Capital
⚡ Dubai Electricity & Water Authority — DEWA’s adoption of generative AI accelerates digital transformation

For slides click here : http://tinyurl.com/ttrx4yye 

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