Grab your USD from Binance.US Before It's too Late!

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Author

Daniel Akpobare
June 23, 2023

This is The Crypto Explorer! your Crypto tour guide.

A warm welcome to the 53 folks who joined us yesterday

Here’s what we got for you today:

  • 🏃 Grab Your USD from Binance.US before it's too late

  • 🤯 FTX files massive lawsuit against Investment firms

  • 🧱 Around The Block: 100K ChatGPT logins have been leaked on the dark web, cybersecurity firm warns.

🏃Grab Your USD from Binance.US Before It’s Too Late

Binance.US has announced the successful resolution of its U.S. dollar withdrawal problems.

In case you missed it:

Amidst its ongoing battle with the SEC, the Exchange suspended dollar deposits and notified its customers of an incoming pause to fiat withdrawal channels.

The pause was scheduled to begin as early as June 13 but that didn’t end up coming to pass as yet.

Now in a recent update, Binance.US has informed users that they can resubmit failed USD withdrawal requests as their systems are fully operational.

However, this is not a permanent fix as they expect their banking partners to discontinue that service in the near future.

So, you have to make haste while the sun shines.🌞🏃

The Exchange is encouraging users to “use, withdraw, or convert USD to a stablecoin to continue crypto-to-crypto trading” as any remaining USD balances held in customer accounts could be converted into Tether.

The Exchange is also adding to its USDT Advanced Trading pairs offerings and removing some USD Advanced Trading Pairs, all on June 26.

If you want to know which ones are leaving or being added, find out here

 🤯 FTX Files Massive Lawsuit against Investment Firms

There’s a new lawsuit involving FTX!

FTX has filed a 16 counts lawsuit against some of the investment firms it had ties to before its collapse, demanding a mind-boggling $700 million!🤯🤑

These investment firms include: K5 Global, Mount Olympus Capital, SGN Albany Capital, etc. (see others here).

The suit alleges that FTX-affiliated crypto trading firm Alameda Research transferred $700 million to Kives, Baum and K5 Global, but they constructed the deals as coming from shell companies.

Of course, when the news hit the fan, K5 Global's spokesperson was quick to declare that the lawsuit is "without merit." (Find out why here).

It sure seems like FTX will have a front-row seat in the courtroom for quite some time.😃 

🧱 Around The Block: 100K ChatGPT logins have been leaked on the dark web, cybersecurity firm warns.

That's all we've got for you today.

Please don't forget to rate today's email and let us know what you like about it.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW

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