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| Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! | | How has your week been so far, Geckos? A crypto trader is enraged after being charged a $954,135 fee from crypto exchange FTX, claiming that the fee was paid for an erroneous deposit they believe was the exchange's fault.
The problem occurred when the trader deposited around $6.3 million in USDP, the stablecoin for DeFi's borrowing platform Unit Protocol, into the exchange's address for the Paxos stablecoin, which also uses USDP as its ticker.
FTX reimbursed the customer by returning around $5.4 million in stablecoins but subtracted a 15% fee, raising concerns in the crypto community as the FTX T&C states that a fee of up to only 5% will be imposed in such circumstances.
In today's news, a US DOJ official unveils a crypto enforcement team, MoneyGram integrates with Stellar blockchain to settle payments, and New Zealand's Easy Crypto Series A breaks the country's record.
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| For A Safer Crypto Future According to a senior US Department of Justice official, the department is developing a "National Cryptocurrency Enforcement Team" to combat cybercrime and money laundering.
Deputy Attorney General Lisa Monaco announced the project during the Aspen Cyber Summit, stating that the purpose was to protect crypto users.
Her statement came only a little more than a year after the DOJ released an "enforcement framework" focused on cryptocurrency. TheBlockCrypto | | MoneyGram Integrates Stellar To Settle Payments Money transfer firm MoneyGram announced on Wednesday that it is collaborating with the Stellar (XLM) Development Foundation to facilitate crypto payouts in local currencies for users.
MoneyGram will use Circle's USDC to settle payments and convert payouts to a user's local currency as part of the partnership.
Stellar blockchain will be integrated into MoneyGram's network to settle the transactions, while United Texas Bank will operate as the settlement bank between the two firms. TheBlockCrypto | | NZ's Easy Crypto Secures $11.75M Easy Crypto, a crypto exchange based in New Zealand, has raised $11.75 million (NZD $17 million) in Series A fundraising, breaking the country's record for the highest Series A funding from a local startup.
The funding round was headed by VC fund Nuance Connected Capital, with participation from KiwiSaver provider, Pathfinder, Icehouse Ventures, Even Capital, GDP Venture (Indonesia), Hutt Capital (U.S.), and Seven Peaks Ventures (U.S.).
The firm will utilize the fund to drive growth through product and technology development, talent investment, and expansion into new markets in Indonesia and the Philippines to serve the unbanked. Cointelegraph |
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Learn about other Crypto terms here | | | | | | The EncounterArtist: e_0_i_n Gallery: MakersPlace In this scene, inside the empty hallways of an abandoned Spa resort on the West Coast of Ireland, the viewer is confronted by an unknown force. I have visited and painted the walls within these settings for years but have always visualized the work as some sort of natural, living entity within the space. In a way, a form of self-portrait, left behind to decay along with the walls. Using traditional photography to create a higher contrast and more emotive base image, it was built on using Gravity Sketch in VR and Cinema 4d to render the final piece.
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