**Binance Founder CZ Discussed the Collapse of Mantra (OM): Explained the Key Factor Showing Risks in Altcoins**
**Mantra (OM)** shocked investors by experiencing a drop of over 80% in seconds.
While the reason for this sudden collapse is being questioned, **MANTRA CEO John Patrick Mullin** stated that no team member or partner sold their OM tokens. Mullin claimed that the drop was caused by deliberate actions against OM token holders by centralized exchanges.
**OKX founder and CEO Star Xu** described the events as "a major scandal" and announced that he would soon publish a detailed report.
**Binance** stated in its announcement that initial findings revealed that the sudden drop in the OM token price was caused by **inter-exchange liquidations**.
**Binance Founder Changpeng Zhao (CZ)** also made a statement regarding the matter. CZ, who said, “Like everyone else, I was curious about ‘what happened?’ I had no knowledge of the project until the collapse,” also answered questions about whether Binance had exercised the necessary caution regarding OM.
CZ emphasized that Binance has taken various **risk control measures** such as reducing leverage ratios for OM tokens since October of last year and acted carefully during this process.
CZ also touched on the key factors that investors should pay attention to in order to understand the risks in projects like OM, stating that **“the number of real users” is an important indicator of the risk level in altcoin projects**.
Finally, CZ underlined that investors should focus on solid data based on **user growth, revenue, and profitability** rather than rumors and advertisements when making investment decisions.
🔴 2014 - $DOGE' flew, we missed it 🔴 2015 - $XRP flew, we missed it 🔴 2016 - $ETH flew, we missed it 🔴 2017 - $ADA' flew, we missed it 🔴 2018 - $BNB flew, we missed it 🔴 2019 - $LINK' flew, we missed it 🔴 2020 - $DOT flew, we missed it 🔴 2021 - $SHIB flew, we missed it 🔴 2022 - $GMX flew, we missed it 🟢 Which one is $___ in 2024?
☀️Let's discuss in the comments ☀️
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Polkadot is a groundbreaking project in blockchain technology and was developed to realize the Web3 vision. Launched by Gavin Wood, one of the founding members of Ethereum, Polkadot stands out as a platform that brings together multiple blockchains and facilitates communication and data sharing between these blockchains.
**Key Features of Polkadot**
1. **Parachains and Relay Chains:** Polkadot is built on side blockchains called parachains and the relay chain (transmission chain) that holds them together. Parachains enable different applications or private blockchains to operate with their own unique logic and consensus mechanisms.
🚨🚨Why is Ripple (XRP) Rising? Importance of August 1 for XRP🚨🚨
An analysis of the current situation and future of XRP Coin:
Although XRP Coin is among the largest altcoins in terms of market value, it has not achieved the expected rise in the last year. In particular, the fact that it can only approach the $1 threshold once shows the effects of both increasing supply and ongoing legal problems with the SEC. However, as of August, a hopeful period may begin for XRP Coin.
The closed meeting to be held between the US Securities and Exchange Commission (SEC) and Ripple on August 1 is awaited with great curiosity in the market. It is stated that the SEC has not achieved a clear victory in the long-running legal battle and is unlikely to win in the future. Especially SEC Chairman Gensler's desire to close this file before leaving office creates a positive expectation in the market.
Four Cryptocurrency Projects Selected by Binance Labs
An article providing information about the new cryptocurrency projects chosen by Binance Labs for the Season 7 Incubation Program:
Binance Labs is the venture capital and incubation arm of Binance, the world's leading cryptocurrency exchange. Binance Labs, which supports new and innovative cryptocurrency projects with the incubation programs it organizes every year, announced the projects selected for the 7th Season Incubation Program.
There are some notable names among the projects accepted to this year's program. Astherus, which offers a decentralized exchange solution, Cycle Network, a bridgeless total liquidity network, Dill, a sharding-based data availability network, and EigenLayer's first native DeFi protocol, Eigen Explorer, are among these selected projects.
When selecting these projects, Binance Labs considered their innovative approaches, technological potential, and potential contributions to the industry. While the projects accepted to the program are stated as the first projects that Binance Labs decided to invest in, it is emphasized that these investments may not be the same as the general investment portfolio of Labs.
Binance Labs officials stated that the selected projects have the potential to open new horizons in the world of blockchain and cryptocurrency, and that the incubation program aims to contribute to the growth and development of these initiatives by providing the necessary support.---
This article discussed the importance of the projects selected for Binance Labs' Season 7 Incubation Program.
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🚨Breaking News: Binance Invested in This Crypto Project, Good News on July 30🚨
Bitcoin price is approaching new daily lows and aims to test below $65,500. However, the cryptocurrency world is always moving forward dynamically. Focusing on medium and long-term goals, investors evaluate the potential of new projects and technologies. In this regard, Binance announced that it has invested in aPriori, which offers a MEV-supported liquid staking solution on the Monad network. This step highlights the innovation and support given to projects that will lead the future evolution of blockchain technology.
In the cryptocurrency world, we have observed the rapid spread of liquid staking platforms on leading networks such as Solana and Ethereum and the increasing value these platforms provide to blockchain technology. Binance Labs President Yi He stated that Binance is proud to invest in aPriori's MEV-powered liquid staking solutions to lead this trend. This investment highlights Binance Labs' commitment and vision to support projects that advance blockchain innovation.
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🚨🚨Ethereum has gained significant upward momentum in the cryptocurrency market🚨🚨
One of the main factors behind this rise was the success of Ethereum ETFs launched on July 23. The introduction of ETFs increased investor interest in Ethereum and positively affected the price of ETH
Optimistic comments by famous crypto analyst Michael van de Poppe were also among the factors supporting Ethereum's rally. Van de Poppe stated that a major bullish rally could begin if Ethereum breaks the 0.0515 BTC level, which is an important technical resistance. These comments show that confidence in ETH is increasing in the market and investors are starting to see its potential.
With the entry of Ethereum ETFs into the market, the large fund flows seen in the US-listed spot Ethereum ETF attracted attention. Following outflows from the Grayscale Ethereum Trust, over $4 billion in trading volume was recorded in the ETF's first week. This shows that Ethereum is increasingly adopted and in demand among institutional investors Ethereum recent developments and their impact on the market
Santiment's on-chain data also highlights the growing interest in Ethereum, Bitcoin and other major crypto assets. This data shows that Ethereum is performing strongly not only with its price, but also with its user engagement and transaction volume. This allows Ethereum to maintain its leading position in the cryptocurrency market.
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#AVAX’ AVAX Signature for the Giant Service Concerning 39 Million Vehicles in America
Following Ethereum, Solana and Avalanche (AVAX), which are among the leading altcoins of the cryptocurrency world, made a name for themselves with their remarkable success in the last bull market. In particular, Solana has shown a rapid rise since mid-2023, while AVAX has charted a stable growth chart.
AVAX has come to the fore again with the decision by the Department of Motor Vehicles (DMV) of California, the largest state in the USA, to modernize vehicle title transfer processes using blockchain technology. According to the statement made by Ava Labs, thanks to this new system launched on AVAX, title transfer transactions will decrease to minutes from the processes that previously took weeks.
This step by the State of California once again underlines the reliability and speed of Avalanche's technology. The transparency, security and speed advantages brought by Blockchain continue to attract the attention of large institutions and states. This development also shows that AVAX is positioned not only as a cryptocurrency but also as an important solution provider for real-world applications
With the adoption of Avalanche and similar blockchain projects, more institutions and governments are expected to reap the benefits of blockchain technology. This is considered as one of the important steps that will contribute to the growth and maturation of the cryptocurrency ecosystem.
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Cryptocurrency markets have been experiencing great activity lately with the rise of Bitcoin. However, according to popular cryptocurrency investor Roman, Ethereum's short-term performance may be a bit challenging. In his latest interview, Roman predicts that Ethereum has lagged behind Bitcoin during periods when it reached its peaks, and that this situation may continue for the next few months.
Roman is a name that actively produces content on the X platform with 56,000 followers. According to him, Ethereum's time will come and it will come to the fore, especially with the impact of liquidity changes. Liquidity shifts usually occur when Bitcoin is approaching or reaching its peak, and investors divert their Bitcoin profits to other cryptocurrencies.
**Solana's The Fine Line Between Innovation and Manipulation**
Recently, Solana has quickly become a rising star in the cryptocurrency world. This blockchain network, which stands out for surpassing Ethereum in some metrics, has become a preferred platform especially for decentralized finance (DeFi) applications and high-performance transactions. However, there is a question mark in this success: Is it real user interaction or manipulative trading activities?
Recent analysis by Flip Research reveals that the high trading volumes observed on Solana are largely driven by bots. For example, while the number of daily transactions per capita is quite high on Solana, this rate remains much lower on other major blockchain networks such as Ethereum. This raises doubts about how technically effective Solana is.
BitClout founder Nader Al-Naji is facing serious charges from the US Securities and Exchange Commission (SEC). The SEC alleges that Al-Naji misappropriated $257 million in funds by selling unregistered securities through the BitClout project. It is also stated that Al-Naji, while claiming to investors that the project was decentralized, actually controlled the project and misled regulators.
According to the SEC's statement, it is stated that Al-Naji gave personal luxury items and large amounts of cash gifts to his family members and took steps in this direction despite promising investors that such expenses would not be made. In particular, it is stated that expenses such as renting a mansion in Beverly Hills strengthen the accusations of abusing investors' trust.
In addition to BitClout, Al-Naji's new project, Decentralized Social (DeSo), is also on the SEC's radar. According to the SEC, Al-Naji tried to avoid regulatory scrutiny by promoting this project as decentralized.
Although Al-Naji and his lawyers have not yet officially responded to these accusations, the SEC's complaint and allegations could have serious consequences. The SEC is taking significant steps to investigate the legal liability of Al-Naji and other related parties and, if necessary, punish them.
These developments could lead to broader discussions about regulation and investor protection in the cryptocurrency world.
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Bitcoin has been on the agenda with major price movements lately. The cryptocurrency quickly recovered to over $70,000 after falling below $54,000 in early July. However, this rise soon resulted in a decline of more than 3 percent and fell to $67,800.
Such sudden price movements of Bitcoin usually attract attention among investors in the market. While it offers huge profit and loss opportunities, especially for leveraged investors, technical analysts observe that similar patterns form an ongoing cycle with higher highs and lower lows.
These recent price fluctuations once again emphasize the decisive role of Bitcoin in market dynamics. It is important for investors to follow market trends carefully and be prepared for volatility when making strategic decisions.
On the other hand, it is also true that Bitcoin is still considered a long-term investment tool in the eyes of leading investors and analysts. The future performance of the cryptocurrency is likely to be shaped by a combination of both global economic factors and the behavior of market participants.
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Recently, former US President Donald Trump's statements about Bitcoin caused a significant fluctuation in the cryptocurrency market. Trump announced at the Bitcoin 2024 conference in Nashville that the United States plans to create a strategic national Bitcoin stockpile in case of a possible re-election. This announcement created great excitement in the market and caused a rapid change in Bitcoin prices.
According to data, the price of Bitcoin rose to $69,000 after Trump's speech. However, after this rise, there was a harsh reaction in the market and prices fell to $66,700 in a short time. As investors analyzed and evaluated Trump's statements, prices recovered again and rose above $68,000 despite the market turmoil.
It is stated that a similar price movement is observed in broad market indices such as CoinDesk20. These events showed once again how great the impact of Bitcoin is on global financial markets. These statements of Trump regarding his strategic plans for Bitcoin continue to be followed carefully by cryptocurrency investors and market analysts.
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The Last Hour of Bitcoin's Post-Halving Surge, 100 Days After the Last Four-Year Halving
Today is July 29, an important milestone for the Bitcoin community. This date marks the 100th day of Bitcoin's mining rewards halving every four years. This event is related to the halving, a mechanism built into Bitcoin's core protocol.
Bitcoin halving means that the amount of mining rewards per block is halved. The Bitcoin protocol, first launched in 2009, automatically implements this halving every 210,000 blocks (approximately every four years). This mechanism aims to ensure that the maximum supply of Bitcoin is limited to 21 million units and that the supply increases slowly and predictably over time.
A different article based on the latest developments in the SEC's case against Binance:
The US Securities and Exchange Commission (SEC) is planning to make a significant change in the framework of its lawsuit against Binance. The SEC will amend Binance's complaint about allegedly unregistered digital assets listed on its platform. This step could be decisive in how third-party tokens, especially Solana (SOL) and Polygon (MATIC), will be handled in the case.
The amended complaint will include new allegations against Binance and its affiliates, including “Third Party Crypto Asset Securities,” the SEC said in its court filing on Tuesday. This change may affect the scope and process by which the court must make decisions about the legal status of certain tokens.
The case gained more attention, especially after a hearing in which Binance's lawyers interpreted an earlier decision as an attempt to dismiss the SEC's request to dismiss its charges regarding third-party tokens. Although Judge Amy Berman Jackson stated that this situation was misunderstood, the SEC's new position is considered an important step.
How the SEC frames the amended complaint and how these tokens are addressed in the case could have an important role in providing a clearer understanding of the legal status of crypto assets moving forward.
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#ABD #Fed #Bitcoin Cryptocurrency markets have experienced great fluctuations in recent days. Bitcoin lost significant value after the US government made a large transfer, sparking concerns among investors. The price of BTC fell by 5% in the last 24 hours, but there was a slight recovery later and at the time of writing it was trading around $66,550.
Ether (ETH) followed a similar trend. Large outflows from Grayscale Ethereum Trust resulted in negative net flows in spot ETH ETFs. These ETFs go through a rough patch in their first few weeks on the market. However, they still maintain their position as a major player in the crypto asset market.
On the other hand, former US President Donald Trump's promises regarding cryptocurrencies attract attention in the market. Trump has promised to introduce crypto-friendly regulations depending on the upcoming presidential elections. These remarks create uncertainty among investors about the future of crypto markets and could have a potential impact on the markets.
The cryptocurrency market continues to fluctuate under the influence of government policies and global economic factors. Investors should continue to be wary of such volatility and follow market developments closely.
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#Bitcoin There have been significant fluctuations in the cryptocurrency markets recently. Bitcoin erased last week's gains, falling to $66,000 after Silk Road. This decline comes as concerns about potential selling pressure grow as the US government moves $2 billion worth of Bitcoin. With this move, Bitcoin lost up to 5% in value in the last 24 hours, but has recovered slightly.
Solana's SOL fell 6%, paring Monday's gains, making it one of the biggest losers among other major cryptocurrencies. This decline may be related to Memecoin trading heating up on the network over the weekend and token prices rising. Ethereum has managed to remain relatively strong despite outflows from new spot ETFs.
Market observers state that macroeconomic decisions and the lack of new catalysts may lead to negative effects on the markets. CoinMarketCap's research leader Alice Liu states that the recent optimism has been replaced by a more cautious atmosphere. In addition, he warns that interest rate decisions by the Bank of Japan, the Federal Reserve and the Bank of England may increase volatility in the cryptocurrency market.
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The Reason for the USA's $2 Billion Bitcoin Transfer Began to Become Clear!
James Seyffart, senior ETF analyst at Bloomberg, stated that the US Bitcoin transfer from the Silk Road DOJ Confiscated Funds wallet could be a strategic move. The transfer of Bitcoins previously seized by the US Department of Justice after an interval of approximately four months caused various speculations among industry experts. Seyffart claimed that this transfer was not for sale, but a reorganization for the safe storage of Bitcoins.
Silk Road DOJ Confiscated Funds refers to the Bitcoins seized by the US Department of Justice during operations against the Silk Road market. It is thought that these assets will be better managed with professional services such as Coinbase Prime. On July 2, Coinbase was sued by the U.S. Department of Justice's asset forfeiture agency. It announced that it had received authorization to store Class I digital assets and provide trading services for the Marshals Service. Class I assets represent large digital assets that are centrally managed to support federal law enforcement activities.
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