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Bad crypto typically has a messianic leader and a flock. Yet, this power dynamic is unsustainable and contradicts why crypto was created in the first place — to give people a voice in governance.
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Yet, memecoins are susceptible to manipulative pump-and-dump projects in many current forms. Events like this have harmed most coin holders while favoring select and limited insiders who are privy to certain information surrounding the memecoin cycle.
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If developed correctly, memecoins, otherwise known as “community” or “culture” coins, present a key tool for achieving this. While frequently lacking traditional utility, memecoins are usually designed exclusively to serve the communities they emerge from.
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To facilitate decentralized governance and a safe, equitable transition to Web3, we need tools built for the blockchain to democratize the digital society and allow collective decision-making among general populations to mirror real-life social behavior.
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Sim was accused of running money laundering operations and conspiring with North Korean information technology workers to generate income illegally in the United States.
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Zhang was also involved in currency operations. He possibly also acted as a courier for Sim Hyon Sop, an executive of Korea Kwangson Banking Corporation in China. Sim was sanctioned in April 2023 and the US Justice Department has unsealed two indictments against him at that time.
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Lu and Zhang are residents of the UAE. Lu allegedly converted cryptocurrency into fiat and used it to obtain goods and services destined for North Korea or its proxies. He was active between early 2022 and September 2023, the Treasury Department said.
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Acting Treasury Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith said in a statement:
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OFAC has sanctioned two Chinese citizens — Lu Huaying and Zhang Jian — and UAE-based Green Alpine Trading for their alleged parts in cryptocurrency conversion and the laundering of funds that were subsequently sent to the Democratic People’s Republic of Korea.
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The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has worked closely with the government of the United Arab Emirates to impose sanctions on actors it accuses of enabling North Korean digital asset laundering.
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Additionally, the Bitwise duo forecast that Bitcoin will hit $200,000 or more by the end of 2025 and said it could surpass gold’s current $18 trillion market cap by 2029.
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Bitwise investment chief Matt Hougan and research head Ryan Rasmussen recently predicted that at least five “crypto unicorns” will go public in 2025, including stablecoin issuer Circle and crypto exchange Kraken.
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The acquisition added nine European-listed crypto ETPs to Bitwise’s portfolio and increased its assets under management to over $4.5 billion. The ESOL product currently holds $24 million in assets under management.
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Bitwise’s first Solana ETP in Europe, ESOL, debuted in August as a result of the ETC Group acquisition. BSOL aims to fill a major gap with ESOL’s lack of support for staking rewards by having the feature baked in.
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“This will inform work across the PRA and the Bank of England on cryptoassets by helping us calibrate our prudential treatment of cryptoasset exposures, [and] analyze the relative costs and benefits of different policy options,” the PRA said.
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A warm Farcaster welcome to @miohnson09882!
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A warm Farcaster welcome to @emilymiller08177!
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A warm Farcaster welcome to @brown89241!
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A warm Farcaster welcome to @b16379899!
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A warm Farcaster welcome to @o758037!
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