The cryptocurrency market has been buzzing with activity lately. On-chain data shows a sharp increase in Bitcoin accumulation, similar to the accumulation phase in 2020 that led to Bitcoin's surge to $64,000 by April 2021. This hints that we might be on the brink of another bull run. 
In a surprising development, what initially seemed like bad news for the cryptocurrency market led to massive rallies in related memecoins. This was triggered by the final verdict in former US President Donald Trump's case, where he was found guilty of all 34 counts of falsifying records to cover up a sex scandal.
As always, we've gathered the top cryptocurrency stories from the past week. In this recap, we'll explore six intriguing developments you might have missed.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (May 26–June 1, 2024)
●      Binance Founder CZ Starts 4-Month Prison Sentence for Money Laundering
●      Biden Vetoes Repeal of Crypto Accounting Rule
●      Judge Dismisses DEBT Box Case, Orders SEC to Pay $1.8M in Fees
●      Hong Kong Bans Unlicensed Crypto Exchanges
●      Terraform, Do Kwon Near Fraud Settlement with SEC
●      Gemini Reimburses $2.18 Billion to Earn Users
Binance Founder CZ Starts 4-Month Prison Sentence for Money Laundering.
Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has reported to a low-security federal prison in Lompoc, California. His legal team at Latham and Watkins confirmed that Zhao is serving a four-month sentence for money laundering charges. 
The crypto community praised Zhao's move, viewing it as a protective measure for the Binance exchange. Following his release, Zhao plans to continue his involvement in cryptocurrency, focusing on passive investing. Despite facing an initial three-year recommendation, Zhao was sentenced to four months and fined $50 million.
Biden Vetoes Repeal of Crypto Accounting Rule
U.S. President Joe Biden vetoed a resolution to overturn the SEC's Staff Accounting Bulletin No. 121 regulating cryptocurrency holdings. Biden cited the need to protect consumers and investors and stated that reversing the guidelines would undermine the SEC's authority. 
The decision faced sharp criticism from the crypto industry and lawmakers, who argued it stifles innovation. Despite bipartisan support in Congress for the repeal, Biden emphasized his commitment to maintaining financial security and regulatory oversight.
Judge Dismisses DEBT Box Case, Orders SEC to Pay $1.8M in Fees
A federal judge has dismissed the SEC's case against Digital Licensing, doing business as DEBT Box, and ordered the commission to pay $1.8 million in attorney and receivership fees. 
The May 28 ruling by Judge Robert Shelby in the U.S. District Court for the District of Utah follows a March finding of SEC misconduct related to a temporary asset freeze. DEBT Box claimed the SEC's information was inaccurate, leading to this significant win for the firm. The SEC cannot proceed with the case as it stands.
Hong Kong Bans Unlicensed Crypto Exchanges
Hong Kong has mandated that all cryptocurrency exchanges without an operational license from the Securities and Futures Commission (SFC) must cease operations immediately. This regulatory crackdown aims to enhance investor security and transparency in virtual asset trading.
Exchanges had until February 29 to apply for a license, with a three-month window to comply. Major exchanges like OKX and Huobi HK exited the market in May. As of May 31, only HashKey and OSL Exchange have received approval, with more decisions expected by June 1.
Terraform, Do Kwon Near Fraud Settlement with SEC
Terraform Labs and former CEO Do Kwon are close to settling fraud charges with the SEC. Both parties are expected to submit the final settlement terms for court approval by June 12, 2024. The SEC accused Terraform and Kwon of misleading investors about the stability and investment potential of TerraUSD (UST) and other tokens. 
The settlement follows a civil case in which they were found liable for defrauding investors. This proposed settlement addresses significant financial penalties and Kwon’s future roles in securities-issuing entities.
Gemini Reimburses $2.18 Billion to Earn Users
Gemini has reimbursed users of its defunct Earn program with $2.18 billion in digital assets, covering 97% of the owed amounts. This payout followed a settlement with Genesis Global, a former partner in the program. 
Genesis had filed for bankruptcy after halting withdrawals amid a liquidity crisis. Gemini's settlement ensures users receive 100% of their assets, including any appreciation. New York Attorney General Letitia James secured a $2-billion settlement with Genesis to address fraud claims, mandating the return of investor funds and cessation of its New York operations. 
NEWS FROM MELEGASWAP
MARCO Token: Presale Concluded and Launched on Uniswap
The $MARCO token, the native cryptocurrency of the Melega Finance ecosystem, has successfully concluded its presale on GemPad and is now available for trading on Uniswap through the Base Chain. 
Melegaswap, the leading AMM DEX on the Binance Smart Chain (BSC), will expand to multiple blockchain networks in the coming weeks. We continue to provide a user-friendly trading experience and robust project support.
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #melega #melegamarco #dex #gemini

This week was a mixed bag for the crypto world. On the bright side, the price of Ethereum-based memecoin Pepe reached new heights, and Ethereum itself saw a significant jump following the long-awaited approval of spot Ether ETFs in the US.
However, the crypto community mourned the loss of Kabosu, the Shiba Inu dog who became an internet sensation as the face of the "Doge" meme and inspired the Dogecoin memecoin. Kabosu passed away peacefully at an estimated age of 18.
Despite the somber news, the overall crypto market experienced a positive swing, with Bitcoin surpassing $71,000. We'll dive deeper into six intriguing developments you might have missed this week.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (May 19–May 25, 2024)
●      SEC Approves Spot Ether ETFs, Paving Way for Broader Crypto Adoption
●      Vitalik Buterin Proposes Solutions for Ethereum’s MEV Problem
●      Trump Campaign to Accept Cryptocurrency Donations
●      US House Passes FIT21 Crypto Bill with Bipartisan Support
●      Uniswap Vows to Fight SEC Wells Notice, Supports Pro-Crypto Legislation
●      Gala Games CEO Cites Internal Control Failures for $23M Token Exploit
SEC Approves Spot Ether ETFs, Paving Way for Broader Crypto Adoption
The U.S. Securities and Exchange Commission (SEC) has approved multiple spot Ether ETFs, marking a significant milestone in cryptocurrency regulation. Unlike spot Bitcoin ETFs, which required a vote from the SEC's five-member committee, spot Ether ETFs were approved by the Trading and Markets Division.
Major firms, including VanEck, BlackRock, and Fidelity, received the green light for their ETF proposals. Despite this approval, these ETFs must still have their S-1 registration statements signed off by the SEC before trading can commence. This decision follows recent legislative moves aimed at clarifying crypto regulations.
Vitalik Buterin Proposes Solutions for Ethereum’s MEV Problem
On May 17, Ethereum co-founder Vitalik Buterin proposed several solutions to tackle ‌miner-extracted value (MEV), where block producers manipulate transaction orders for profit, causing network congestion and high gas fees.
Buterin suggested a combination of MEV quarantining, MEV minimization, inclusion lists, and lowering node requirements. MEV minimization aims to limit information accessible to MEV developers, while quarantining separates transaction validation from block content selection. Inclusion lists ensure all transactions are included in blocks. These measures aim to preserve Ethereum's decentralization and trust.
Trump Campaign to Accept Cryptocurrency Donations
Former President Donald Trump announced that his 2024 presidential campaign will accept cryptocurrency donations. His campaign launched a fundraising page on May 21, allowing contributions through Coinbase Commerce in various cryptocurrencies, including Bitcoin, Ether, and Dogecoin.
This move comes as Trump remains the presumptive Republican nominee and prepares for potential debates with President Joe Biden, the likely Democratic nominee. Despite this crypto-friendly fundraising approach, Trump’s campaign platform does not explicitly address digital assets or blockchain technology.
US House Passes FIT21 Crypto Bill with Bipartisan Support
The U.S. House of Representatives approved the Financial Innovation and Technology for the 21st Century (FIT21) Act to provide regulatory clarity over digital assets. The bill passed with a 279 to 136 vote and received support from 71 Democrats and 208 Republicans. If enacted, it would define the roles of the SEC and CFTC in regulating digital assets.
While proponents argue it promotes innovation, opponents, including Representative Maxine Waters, warn it could lead to deregulation and potential financial instability. The Senate will now consider the bill.
Uniswap Vows to Fight SEC Wells Notice, Supports Pro-Crypto Legislation
Uniswap Labs, the developer behind the Uniswap decentralized exchange, has vowed to contest a Wells notice issued by the SEC, which suggests potential enforcement action. Uniswap criticized the SEC's legal stance as "weak" and expressed readiness to defend itself in court.
The firm highlighted its legal team's success in previous cases against the SEC. Uniswap also backed the Financial Innovation and Technology for the 21st Century Act, a bill that could shift crypto regulation from the SEC to the CFTC, potentially nullifying the SEC's case.
Gala Games CEO Cites Internal Control Failures for $23M Token Exploit.
Gala Games CEO Eric Schiermeyer confirmed a security breach that led to the unauthorized sale of 600 million GALA tokens worth $23 million. Schiermeyer blamed "messed up" internal controls for the incident. The breach also involved the effective burn of 4.4 billion tokens. Despite the compromise, Gala's Ethereum contract remained secure.
The company collaborates with the FBI and other authorities to investigate the incident. The security breach caused a significant drop in GALA's value, which has since partially recovered. However, the attacker returned $22 million in Ether after a few days of the incident.
NEWS FROM MELEGASWAP
Melega (Marco) Burn Event Completed
We are excited to announce that we have successfully completed the BURN EVENT for 10 million $MARCO tokens on the BNB Chain, which is approximately worth $500,000. This event is part of an important development underway on the MelegaSwap Platform, expanding to multiple chains. The $MARCO token will be launched in the next few days on the BASE chain. Here’s the transaction hash.
MARCO Presale Started on Base Chain
We are excited to announce the PRESALE of $MARCO on BASE CHAIN, which started on May 23, 2024, on GemPad. MELEGA (MARCO) is the flagship utility token of MelegaSwap, the rapidly growing black AMM DEX on the BNB Smart Chain that is now expanding on the BASE Chain. The soft cap was smashed and doubled in seconds.
PLUNZ (PLZ) Farm & Pool Listed on MelegaSwap
Introducing PLUNZ, the meme token with a twist! Fronted by a quirky blue sewer rat with braces, PLUNZ offers a unique staking model rewarding holders with USDT. Perfectly balanced tokenomics and a total community-driven approach ensure engaging and lucrative participation.
BOOTYCOIN (BUTT) Farm & Pool Listed on MelegaSwap
BOOTYCOIN is a simple, hyper-deflationary, and low-tax reflection token.  The contract is renounced with a locked LP until the year 2100.
BabyFox (BABYFOX) Farm & Pool Listed on MelegaSwap
BABYFOX is a memecoin dedicated to its community; our objective is to put the community at the heart of the project at the center of power and decisions, all this in total transparency with these investors. Utility NFTs, which will give the right to make decisions + an annual return, will be released at the beginning of June, a multichain swap (fox swap) auto burn at the end of June, and later in the coming months, we will work on a play to earn, a staking platform and a metaverse. our goal beyond crypto is to take the BABYFOX brand beyond the world of cryptocurrency
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #ETHETFsApproved #melegamarco #melega #TrumpCryptoSupport

Despite a relative lull in the global crypto market, Bitcoin (BTC) surged above $67,000 this week. In contrast, memecoins dominated the charts in the last few days, with Floki, Pepe, Bonk, Shiba Inu, and others leading the way.
Notably, PEPE hit a new all-time high shortly after GameStop stock trader Keith Gill posted to his Roaring Kitty X account for the first time in three years. 
Although this week was relatively quiet, we have compiled six top stories you might have missed but will find intriguing. Let's take a closer look at some of these stories that you wouldn't want to miss.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (May 12–May 18, 2024)
●      Tornado Cash Developer Sentenced for Money Laundering
●      Institutional Investors Pour Billions into Bitcoin ETFs
●      Meme Coin Frenzy: Over 1 Million New Tokens Launched Since April
●      Circle Moves Legal Base to the United States Ahead of IPO
●      DTCC and Chainlink Successfully Pilot Fund Data Tokenization
●      Senate Votes to Overturn SEC Crypto Rule; Biden Threatens Veto
Tornado Cash Developer Sentenced for Money Laundering
Alexey Pertsev, developer of Tornado Cash, was sentenced to five years and four months in prison by Dutch judges for laundering $1.2 billion in illicit assets. Despite Tornado Cash being a noncustodial protocol, Pertsev was held accountable for not preventing money laundering. This case raises concerns for open-source developers about potential liability for code misuse. Pertsev's legal team has 14 days to appeal the ruling.
Institutional Investors Pour Billions into Bitcoin ETFs
Over 600 firms disclosed $3.5 billion in spot Bitcoin ETF investments in recent SEC filings. Millennium Management leads the investments with $1.9 billion, followed by Schonfeld Strategic Advisors with $479 million. Other major investors include Morgan Stanley, JPMorgan, and Wells Fargo. Despite a recent decline in inflows, institutional investment in Bitcoin ETFs remains substantial, reflecting strong interest and confidence in the cryptocurrency market.
Meme Coin Frenzy: Over 1 Million New Tokens Launched Since April
Since April 1, over one million new crypto tokens have been created, with 372,642 on Ethereum and 643,227 on Solana. A significant portion, especially on Solana, consists of meme coins. Coinbase’s layer-2 blockchain Base saw 88% of Ethereum's new tokens. This surge, driven by low costs and meme coin popularity, has led to concerns over scams and the proliferation of low-value tokens.
Circle Moves Legal Base to the United States Ahead of IPO
Circle, the company behind USD Coin, is relocating its legal base from Ireland to the U.S. to align with stricter U.S. cryptocurrency regulations and prepare for an upcoming IPO. This strategic move aims to boost investor confidence despite higher compliance costs. By adhering to U.S. regulatory standards, Circle seeks to enhance transparency and adoption, positioning itself competitively in the stablecoin market.
DTCC and Chainlink Successfully Pilot Fund Data Tokenization
The Depository Trust and Clearing Corporation (DTCC) and blockchain oracle Chainlink completed a pilot program with major U.S. banks, including JPMorgan and BNY Mellon, to tokenize traditional finance fund data. The Smart NAV Pilot utilized Chainlink's Cross-Chain Interoperability Protocol to bring net asset value (NAV) data on-chain, enhancing automated data management and enabling various on-chain use cases. This initiative supports future financial industry innovations and broader API solutions for price data.
Senate Votes to Overturn SEC Crypto Rule; Biden Threatens Veto
The U.S. Senate passed a resolution, 60-38, to nullify the SEC’s Staff Accounting Bulletin No. 121, which requires banks to keep customers’ digital assets on their balance sheets. Critics argue this stifles innovation. President Biden intends to veto the resolution to protect investors and the financial system. If vetoed, Congress needs a two-thirds majority to override. This marks a significant bipartisan move on crypto legislation.
NEWS FROM MELEGASWAP
BULL STAR FINANCE (BSF) Farm & Pool Listed on MelegaSwap
BSF is a revolutionary blockchain project dedicated to philanthropy and personal development, focusing on helping children and small businesses grow.
 •••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.

#MelegaSwap #melegamarco #melega #TornadoCash #Circle

Bitcoin (BTC) experienced a significant drop this week, falling to around $60,300 after a notable 4% decrease over the past seven days. Although the coin had reached an all-time high of $73,750 a few days before the most recent halving, the current dip has led to discussions about potential market corrections and uncertainties as we prepare for the upcoming bull run.
While there were several positive developments in the world of cryptocurrency this week, such as Binance and KuCoin's return to the Indian market, the FTX crypto exchange's plan to reimburse users (with some receiving extra compensation), and the possible resolution of the long-standing legal dispute between the SEC and Ripple, there were also several negative stories.
Some popular companies are still facing rigorous regulatory actions while something “funny” reportedly happened with Binance’s case in Nigeria. Let's take a closer look at some of the stories that you wouldn't want to miss.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@melegaexchange) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (May 4–May 5, 2024)
●      Binance and KuCoin Secure FIU Approval for India Comeback
●      SEC Asserts Need for Injunctions in Ripple XRP Case
●      Grayscale Withdraws Ethereum Futures ETF Application
●      FTX's Reorganization Plan Aims to Compensate Creditors
●      SEC Issues Wells Notice to Robinhood Crypto Business
●      Alleged Secret Crypto Deal Proposed to Binance by Nigerian Officials
Binance and KuCoin Secure FIU Approval for India Comeback
Global crypto exchange Binance has received approval from India's Financial Intelligence Unit (FIU) to resume operations in the country, becoming the second offshore platform after KuCoin to gain regulatory clearance. Following regulatory notices and a January ban on several foreign exchanges, including Binance and KuCoin, the exchange has now registered with the FIU. This move reflects efforts by crypto platforms to comply with Indian regulations amidst tax changes and regulatory uncertainties.
SEC Asserts Need for Injunctions in Ripple XRP Case
In the ongoing legal battle between Ripple Labs and the SEC, the SEC has filed its final response, disputing Ripple's claims and emphasizing the necessity of injunctions to prevent future violations. Despite Ripple's arguments of past compliance and proposed changes, the SEC maintains concerns about potential future breaches. The dispute might soon be coming to an end.
Grayscale Withdraws Ethereum Futures ETF Application
Grayscale has withdrawn its 19b-4 application for an Ether futures exchange-traded fund (ETF) just before the SEC's decision deadline. Initially filed in September 2023, the move raises questions about Grayscale's strategy, especially as the SEC faces upcoming decisions on spot Ether ETF applications. Despite the withdrawal, speculation persists over the SEC's stance on Ether ETFs, with implications for future crypto investment products awaiting regulatory approval.
FTX's Reorganization Plan Aims to Compensate Creditors
Bankrupt exchange FTX Trading Ltd. proposes a reorganization plan to reimburse creditors and customers, potentially distributing $14.5 billion to $16.3 billion. Despite objections due to crypto price fluctuations, the plan suggests full repayment to non-governmental creditors with up to 9% interest annually. Subordination arrangements prioritize individual creditors over governmental ones like the IRS. Specific agreements settle substantial claims, while a "convenience class" targets 98% of creditors with claims under $50,000.
SEC Issues Wells Notice to Robinhood Crypto Business
As indicated by a Wells notice, the SEC plans to take enforcement action against Robinhood's crypto business. Despite Robinhood's attempts to register with the SEC and avoid securities violations, the agency's investigation into crypto listings and operations suggests potential enforcement actions. Robinhood contends that its listed assets aren't securities and aims to clarify its stance. Regulatory ambiguity hampers mainstream crypto adoption, highlighting the need for clearer guidelines in the evolving regulatory landscape.
Alleged Secret Crypto Deal Proposed to Binance by Nigerian Officials
Binance CEO Richard Teng claims Nigerian officials proposed a secret cryptocurrency settlement to resolve regulatory issues, escalating tensions. The proposal, involving significant crypto payments, followed investigations into Binance's operations. Despite Binance's refusal, two executives were detained. Teng criticizes Nigeria's actions, calling them a dangerous precedent. Meanwhile, Nigeria plans to ban peer-to-peer crypto trading in the national currency to safeguard the naira from potential manipulation.
NEWS FROM MELEGASWAP
Melegaswap Secures New Marketing Partnership with KAPS (KAPS)
KAPS is a BSC token on the BEP20 standard that offers a solid price floor by forming an initial stablecoin reserve and reinforcing it with transaction fees over time. The Kaps platform serves as a trailblazing platform dedicated to blockchain, exclusively led by the community through participatory voting. 
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #melegamarco #melega #binanceIndia #BTC🔥🔥🔥🔥🔥