Crypto News Today,18 March: Avalanche, Dogwifhat Drive Rally

Crypto prices have experienced gains over the past 24 hours

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Binance offers $100K-$5M rewards for insider trading tips. Listed Solana-based memecoin Book of Meme (BOME) with BTC, FDUSD, and Turkish lira pairs. A whale bought 314M BOME pre-listing, sold after at $8M. Insider trading allegations arose, prompting Binance investigation; no connection found. Binance urges reporting misconduct, promises secrecy, transparency, and rewards for relevant information. Traders' gains varied during the Solana memecoin frenzy.

• Cardano founder Charles Hoskinson addresses mounting FUD within the community, particularly regarding the partnership with World Mobile. Hoskinson emphasizes Cardano's commitment to its roadmap and clarifies misconceptions around partnerchains. He underscores the importance of interoperability and decentralized networks while expressing confidence in World Mobile's leadership and ongoing collaborations with IOG.

• Solana-based meme coin project Slerf faces $10 million losses after developer accidentally burns tokens meant for presale investors. Efforts to rectify futile due to revoked minting rights. Slerf team expresses remorse in X Spaces session, while a trader secures hefty profits amid chaos. Speculations arise, fueling concerns of a possible ponzi scheme.

• As nations intensify efforts to regulate AI, South Korea's President Yoon Suk Yeol addresses AI risks to democracy, aligning with the UK's stance. He emphasizes the need for global cooperation at the Summit for Democracy in Seoul, hinting at stricter regulations ahead. Similar moves are observed globally, including in the EU and UK.

• Binance investigates allegations of insider trading surrounding Solana-based meme coin BOME. Preliminary findings suggest no involvement of Binance personnel. The exchange offers rewards for reports on misconduct and pledges transparency. BOME listing on Binance prompts significant price surge, amid speculation and attention on potential insider activity.

• FTX bankruptcy prompts hedge funds to profit from distressed asset trading. London firm Attestor Ltd sees record 200% profit on FTX claims. Largest deal faces legal challenges. Firms like Attestor capitalize as FTX claims soar amid crypto market surge. Lawsuit filed over claim ownership dispute amid drama involving Lemma Technologies and South Korean investor.

• India's Finance Minister Nirmala Sitharaman emphasizes at India Today Conclave the dangers of unregulated cryptocurrency, citing risks of illicit activities like terror funding and drug financing. Despite acknowledging crypto's role as an emerging asset class, the government maintains it can't be currencies. Global cooperation is crucial for effective regulation.

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Also read - Bitcoin and Ethereum Rebound; DOGWIFHAT Sparks Crypto Rally