nitshtin

@nitshtin

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Just got back from a trip. It rained all night and the air’s slightly chilly today. Had breakfast, now lounging on the couch with nothing to do—still catching the faint scent of my shampoo in the air. Cozy little moments like this feel so peaceful.

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The US Department of Justice announced tax evasion charges against Ver on April 30, 2024, and the entrepreneur was subsequently arrested in Spain, where he was imprisoned for several weeks.

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Meanwhile, Feb. 19 and 20 saw the SEC acknowledge half a dozen exchange filings related to cryptocurrency ETFs in two days, including staking, options, in-kind redemptions and new types of altcoin funds.

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Onchain investigator ZachXBT has identified North Korean state-sponsored hacking group Lazarus as the prime suspect in the Bybit hack. The investigator identified a common address used by the Bybit hacker in previous attacks on Phemex and BingX, both attributed to Lazarus.

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Gambaryan’s detention caught media attention after news broke that the executive was suffering from chronic health conditions yet reportedly denied adequate medical care.

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Binance halted all naira trading activity on its platform in March 2024 after the detention of the executives and complaints from Nigerian officials that traders on the platform were destabilizing the naira.

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The government of Nigeria unexpectedly detained Gambaryan and Anjarwalla in February 2024 during what was supposed to be a routine talk between the company and state regulators.

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The West African country previously charged and detained two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, alleging tax fraud and money laundering. FIRS later dropped the tax charges against both executives.

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FIRS is also reportedly demanding a 26.75% interest payment on the back taxes allegedly owed by the company and continues to claim that the exchange was instrumental in lowering the value of the Nigerian naira in foreign exchange markets.

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According to Reuters, Nigeria’s Federal Inland Revenue Service (FIRS) said Binance has a “significant economic presence” inside Nigeria and unpaid taxes from 2022 and 2023.

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The government of Nigeria has filed an $81.5 billion lawsuit against Binance, the world’s largest centralized exchange by trading volume, for $2 billion in back taxes and $79 billion in economic damages for allegedly crashing Nigeria’s local fiat currency.

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Launched in 2020, SushiSwap was once among the most popular DEXs, with a peak TVL of more than $8 billion in 2021 before internal strife, exploits and legal challenges caused a prolonged decline in the DEX’s usage.

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Sushi Labs is the developer of SushiSwap, a popular DEX. The platform operates across more than 35 blockchain networks and touts roughly $230 million in TVL, according to DefiLlama.

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Sushi will integrate Kubo as a new Sushi-branded perps product, it said. Impermanent loss refers to the loss of value to liquidity providers on DEXs due to the changing relative values of cryptocurrencies in a liquidity pool.

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Shipyard’s products include Blade, an automated market maker (AMM) using a request for quote (RFQ) system to avoid impermanent loss, and Kubo, a system for drawing liquidity into decentralized perpetual futures, or “perps,” exchanges.

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The deal comes as SushiSwap seeks to regain lost ground after a protracted decline in total value locked (TVL) since 2021. The DEX is also facing increasing competition from DEXs on Solana and emerging chains such as Hyperliquid, which specializes in trading.

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The acquisition seeks to address several common challenges facing DEXs, such as SushiSwap. They include “mitigating impermanent loss, optimizing liquidity provisioning, and enhancing multichain trading efficiency,” Sushi Labs said in a statement shared with Cointelegraph.

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Sushi Labs has acquired Shipyard Software, a cryptocurrency trading software developer, in a bid to improve the performance of the SushiSwap decentralized exchange (DEX), Sushi Labs said on Jan. 28.

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Bitwise’s filing left the proposed fee and ticker for the ETF blank and didn’t specify which stock exchange it would be listed on if approved.

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