Coinspeaker Solana-Based Meme Coin Bonk Killer Hits $328T Market Cap to Trap Investors The­ cryptocurrency world experie­nced an unusual e­vent on April 29, 2024, when a re­latively little-known meme coin called Bonk Killer (BONKKILLER) that operated on the Solana blockchain e­xperienced a massive­ surge, re­aching an incredible $328 trillion market capitalization.  ?? Don't fall for the hype! ? Memecoin Bonk Killer may have hit a jaw-dropping $328 trillion market cap, but it's nothing more than a honeypot scam. With holders unable to sell their tokens, it's a cautionary tale in the wi ..read more

Coinspeaker Indonesia’s Election Results Could Boost Crypto, Say Observers Industry observers in Indonesia anticipate the country’s electoral results to positively impact the crypto industry. The report cites an interview with Subani, the head of Indonesia’s national crypto exchange, CFX, and William Sutanto from INDODAX. The two executives believe that the new president-elect, former defense minister Prabowo Subianto, and the incumbent president’s son, Gibran Rakabuming, who were officially declared winners last week, will continue on the country’s already established crypto path. Unchanged o ..read more

Coinspeaker South Korea Issues Warning to Citizens: Declare Overseas Crypto Holdings or Face Prosecution As different countries try to find a balance in financial and crypto regulation, South Korea has issued a new warning to crypto holders to declare their overseas crypto exchange holdings or face prosecution which is part of its plan to create more stringent guidelines. A recent report revealed that digital assets held on exchanges outside South Korea are considered overseas assets. Mandatory Reporting of Overseas Financial Accounts The warning, which was revealed on MoneyS by Daekyung Kim ..read more

Coinspeaker Terraform Labs Lawyers Seeks to Reduce Penalty to $1M Instead of $5.3B The US Securities and Exchange Commission (SEC) has proposed a penalty of $5.3 billion after co-founder Do Kwon was found guilty of fraud. However, lawyers representing Terraform Labs say that a fine of $1 million would be more appropriate. Interestingly, they are seeking a 99% reduction from the penalty proposed by the US SEC. Last week, the US SEC said that Terraform and Do Kwon should pay a total of $4.7 billion in disgorgement charges and prejudgement interest. Additionally, they demand a $520 million paymen ..read more

Coinspeaker Stripe Announces Integration with Avalanche In a move towards crypto expansion, Stripe, a popular payment processing firm has announced a recent integration with Avalanche (AVAX). With the integration, Stripe has expanded its offering to include support for Avalanche C-Chain, introducing a seamless path for retail users to acquire AVAX directly, without dealing with the hassles of crypto exchanges. Avalanche Utilizes Stripe’s Fat-to-Crypto Onramp As revealed in a blog post, Core, Avalanche’s native ecosystem wallet and portfolio developed by Ava Labs has already integrated Stripe’s ..read more

Coinspeaker Crypto Banking Firm BCB Group Receives Operational License in France  BCB Group, a prominent financial services company headquartered in London, has received regulatory approval from Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) of France to legally enter the country and provide its product offerings to customers in the region. According to a CoinDesk report, the financial watchdog granted the company’s application to operate as an Electronic Money Institution (EMI) and Digital Assets Services Provider (DASP). BCB to Make Fra ..read more

Coinspeaker Trust Wallet Temporarily Removed from Google Play Store but Is Back Now The Google Play Store recently removed Trust Wallet, a well-known self-custodial wallet provider in the crypto industry. While the iOS app and the Google Chrome browser extension remained unaffected, the Android version was temporarily taken down. According to a post on X, the removal caused concern among users who rely on the platform’s self-custodial services. Trust Wallet App Finally Reinstated on Play Store Following its removal, Trust Wallet swiftly initiated an appeal process to reinstate the app on the G ..read more

Coinspeaker Visa’s Stablecoin Metric: Circle’s USDC Overtakes USDT in Transaction Volume Despite being the largest stablecoin in the crypto industry with a market share of 69%, Tether’s USDT has been overtaken by Circle’s USDC as the top stablecoin in terms of transaction volume. According to Visa’s adjusted stablecoin metric, launched earlier this year in partnership with Allium Labs to provide a more accurate representation of the stablecoin market, USDC has been steadily gaining traction since the beginning of this year. The tool designed to eliminate potential distortions arising from inor ..read more

Coinspeaker Regulatory Crackdown: Thailand Targets Deceptive Crypto Ads Financial regulators in Thailand have intensified their crackdown against crypto asset service providers, cautioning them against misleading ads and introducing broker agency (IBA) events that could breach regulatory standards. Anek Yooyuen, the deputy secretary-general of the Securities and Exchange Commission (SEC) of Thailand, said the agency is concerned about crypto exchanges enticing investors with special offers, potentially leading them into trading activities without fully grasping the risks involved with such inv ..read more

Coinspeaker Australian Police Charge Four Men in Gold Coast Crypto Money Laundering Case Authorities have charged four people from Crypto Advisers Australia, Strategic Capital, Active Marketing Solutions, and Alternative Capital for allegedly defrauding $1.5 million from 30 investors in Australia. According to a local news report, police charged the individuals with one count of money laundering each after investigations revealed that they were involved in a scam. A Failed Operation Australian police claimed that the defendants including Harry Omeros, Vicky Omeros,  and Kristy Sleep, were ..read more