Stolen crypto recovered from North Korea

Are some in crypto capitalizing on the Queen's death? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap 1.03T (+5.67%) 24 Hour Volume $86.79B (+19.59%) Notable Movers[(ATOM) $15.82]( (+23.00%) Notable Movers (DeFi)[(LINK) $7.99]( (+12.27%) Bitcoin Dominance 38,63%[(+0.87%)]( Bitcoin Price[(BTC) $20,750.68 (+8.15%)]( Ethereum Price[(ETH) $1,695.29 (+4.82%)]( Cardano Price[(ADA) $0,4941 (+5.19%)]( Editor's Note Gary Gensler Gave a Speech The SEC Chair gave yet another confusing crypto speech yesterday, calling all cryptocurrencies securities, saying that they need to follow regulations and will be supported in their efforts to stay inside the law, and also not saying what exactly these regulations exactly are. In Matt Levine’s Money Talks newsletter, he broke down where the main issues with Gensler’s rhetoric lies. If Gensler believes that all cryptocurrencies should be regulated and investors should be protected (which he does), then there should be some regulatory give and take for the new and unusual financial instruments that crypto creates. And so he directly addressed this in his speech: “I recognize that it may be appropriate to be flexible in applying existing disclosure requirements.” This is all fine and good, but as Levine pointed out — in the past five years, the SEC has done its fair share of suing crypto projects for being illegal securities, but has not issued any rules about adapting securities disclosures for crypto projects. The second issue with the SEC’s approach to crypto regulation (as explained by Gensler) is that it seems to only apply to centralized crypto companies that want to be regulated. When Coinbase wanted to launch a yield product and work with the SEC to make it compliant, the SEC said no, and it didn’t happen. When Wonderland wanted to launch a yield product with yields of over 83,000%, the SEC wasn’t consulted, and it did happen. As Matt Levine points out, in crypto, is it only the honest businesses that need to fear the SEC? And how can the U.S. ever become any sort of leader in the crypto and fintech space if it doesn’t have a clear framework for new products to operate within? Gary Gensler had some good points — investors should be protected in crypto in the same way they are with most traditional investments, they should have access to disclosures about projects, team members, funding if they want to. As, Matt Levine wrote, “Gensler’s posture is that he should be in charge of writing the rules for crypto, but not write them. I don’t see how that can work.” Or, as I wrote: “Gary Gensler loves to talk the walk, but he’s not walking the walk.” CMC-Community Spotlight of the Day Investment Capital]( In today’s CMC Community Spotlight, ONUS walks you through how to use credit lines to optimize investment capital. Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] bad look for crypto']( 🚨 Queen Elizabeth II has died at the age of 96, ending a 70-year reign. And now, some in the crypto industry are being criticized after a series of altcoins were released in her name. Dozens have now emerged — with names that include Queen Elizabeth Inu, RIP Queen Elizabeth, and Spirit for Queen Elizabeth II. One critic warned it is a "bad look for crypto" — especially considering that the United Kingdom is about to enter a prolonged period of national mourning. In other developments, an NFT collection that has been generating new portraits of the Queen every day since July has announced that it is closing down. The endless stream of altcoins has led to accusations that creators are attempting to capitalize on Her Majesty's death. Merge spark selloffs?]( 😬 Fears that The Merge will spark huge selloffs of Ether are unfounded, according to the co-founder of Bankless. A large amount of ETH's circulating supply is currently locked up in the deposit contract, which first opened back in December 2020. The latest figures suggest 13.6 million ETH is staked right now — and questions have been raised about whether there's a danger this could all be unlocked at once. But speaking to the CoinMarketRecap podcast, David Hoffman stressed this will be a gradual process — and even if everyone was to try and unstake at once, it would take two to three months before their funds were returned. Hoffman also argued that it's unlikely many stakers will want to sell anyway — calling them "Ether permabulls." ETH holders should expect]( 👀 As the switch to a Proof-of-Stake blockchain approaches, ETH investors are being told that "no news is good news." Software engineer Chris Anatalio told our podcast: "All of the changes to the actual network should not really affect everyday holders of ETH." A number of exchanges have confirmed that they will temporarily suspend deposits and withdrawals while the upgrade takes place. However, transfers will resume as soon as the network is proven to be stable. Anyone staking on centralized exchanges shouldn't need to take action either, as the likes of Coinbase will handle all of the technical details on your behalf. But if you run your own node, Anatalio says updates will be needed to ensure you receive staking rewards. crypto recovered]( 🔥 Cryptocurrency stolen by a North Korean hacking group has been seized for the first time ever. Chainalysis says more than $30 million taken in March's Ronin Bridge hack has been recovered. While this is an encouraging sign, it's worth noting that more than $600 million was stolen from this blockchain, which powers the Axie Infinity game. Chainalysis explained that advanced tracing techniques were used "to follow stolen funds to cash out points and liaise with law enforcement and industry players to quickly freeze funds." According to the company, the seizures prove "it is becoming more difficult for bad actors to successfully cash out their ill-gotten crypto gains" — but there is still work to be done. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Written by Molly Zuckerman and Connor Sephton Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? 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