TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Binance CEO denies having plans for going public. Secret Service talks FBI crypto and money laundering statistics. Canaan Creative ousts lead executives. Tether freezes $5.5 million on the Ethereum blockchain. Ripple co-founder funds the installation of thousands of cameras in San Francisco, and SPICE token keeps its listing on SideShift.
Binance CEO States No Plans for Future IPO
I usually don’t comment on other exchanges. But would like to congratulate Coinbase on the IPO plan. Pushing/paving the way for other crypto businesses.
And to answer the question. No, Binance is NOT planning an IPO. We plan to decentralize more.#BNB
— CZ Binance (@cz_binance) July 9, 2020
Changpeng Zhao, CEO of Binance, an important crypto exchange, came out to clarify some of the next steps the company will follow in the wake of recent Coinbase rumors pointing to a future IPO. Zhao congratulated Coinbase and said the US based-exchange was paving the way for other exchanges to do the same, but denied Binance would be following Coinbase’s footsteps. “We plan to decentralize more,” he stressed.
Secret Service Officer Criticizes FBI Statistics on Crypto Related Money Laundering Crimes
Secret Service Cyber Policy Advisor Jonah Force Hill recently criticized the validity of some statistics shared by the FBI to the US Congress in relation to the number of money laundering crimes involving cryptocurrency. While the FBI stated three out of four money laundering crimes were related to cryptocurrency, in an interview with Forbes the Secret Service officer clarified these numbers could be between 1.1% and 75%. He also stated crypto was just a tool that criminals used to plot and execute their frauds, and not a crime by itself.
Canaan Creative Ousts Lead Executives
Canaan Creative, the first Chinese cryptocurrency mining firm that went public in the US last year, ousted four of its lead executives, according to the company registry. The firm reportedly fired co-chairman Kong Jianping, director Sun Qifeng, CFO Li Jiaxuan and supervisor Tu Songhua, some of whom were recently appointed in their positions. This executive shakeup could have happened as a consequence of an internal discrepancy on the establishment of long term strategies for the company.
Tether Froze 5.5 Million USDT on Ethereum
Correction: Actually there's 4 of the 22 that had active USDT balances when they were frozen, not 3. This makes the total frozen $5.5m. This account here that I missed is actually the second largest USDT freeze in Tether history:https://t.co/B0mfRYA1a2
— Eric Wall (@ercwl) July 9, 2020
Tether, the most popular stablecoin by market cap, blocked several Ethereum addresses, more than 5.5 million worth of USDT. This was revealed on Twitter by Eric Wall, CIO of Scandinavian crypto investment firm Arcane Assets, who discovered 4 of the 22 addresses blocked had USDT when blocked. However, Tether has not disclosed these blocks on its transparency page. Centre, the issuer of USDC, another top tier stablecoin, revealed having blocked an Ethereum address holding $100,000 per a law enforcement request.
Ripple Co-founder Funded Installation of 4,000 Cameras in San Francisco
Chris Larsen, a co founder of Ripple, the cryptocurrency company offering XRP based solutions, paid $4 million to install thousands of cameras in the city of San Francisco to combat crime. These cameras would be used as an alternative crime monitoring system, being installed in private homes and businesses and with the footage used by neighborhood coalitions. The project covers 135 blocks of San Francisco, and it has already been used to help find some suspects and make theft related arrests.
SPICE Token Will Remain on SideShift
SHIFT || DELETE #1 – COMPLETE
Spice Token (#SPICE) had the most SHIFT VOLUME in the timeframe provided.
— SideShift.ai CRLF (@sideshiftai) July 10, 2020
SPICE (not associated with CoinSpice), the SLP appreciation token, will keep its position in SideShift’s roster of supported currencies after having beaten rival cryptocurrency HandShake. The quick swap exchange promoted a volume battle for the survival of these currencies that ended up with SPICE’s victory due to having more volume shifted in the same time frame than its rival cryptocurrency. As a result, Handshake has been removed from SideShift’s swap platform.
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