This Week on Crypto Twitter: Shaq Served with Two Crypto Lawsuits on Same Day
June 4, 2023

This Week on Crypto Twitter: Shaq Served with Two Crypto Lawsuits on Same Day

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A slow news cycle resulted in the fourth consecutive week of flat prices in the crypto markets. Crypto Twitter was similarly sedate throughout the week, although markets briefly panicked on Monday when a machine-generated mockup of an explosion at the Pentagon went viral. 

That day, HuffPost Senior Editor Andy Campbell showed his followers how fake news slips through people’s nets. 

Coinbase shared a one-minute video of its CEO Brian Armstrong explaining the importance of regulating crypto sensibly before all the innovation is driven offshore. 

Coinbase recently announced a global expansion drive, acquired a license to operate in Bermuda and used the license to open an international exchange offering Bitcoin and Ethereum perpetual futures. 

These maneuvers come at a time when U.S. regulators are hounding the industry with enforcement actions instead of offering guidance or new rules, which are desperately needed, according to industry players. 

A coalition of FTX users who have banded together “to get more than whole AND build a safer, better exchange for all” on Monday tweeted the timetable towards FTX’s relaunch.

Basketball legend Shaquille O’ Neale had a tough week after getting served with two different lawsuits on the same day while he was broadcasting during an NBA game. Web3 lawyer Ariel Givner shared her thoughts about the complaint pertaining to Shaq’s NFT project Astrals. The other complaint is about his promotional work for FTX. 

On Wednesday, Binance CEO Changpeng Zhao said there were bullish signs coming from China that day. 

Meanwhile, Zhao’s exchange reiterated its commitment to help U.S. authorities take down North Korean cyber criminals. 

Coinbase’s Chief Legal Officer Paul Grewal that day tweeted about the legal challenge to U.S. sanctions against crypto transaction privacy tool Tornado Cash. He was impressed by the plaintiff’s arguments and summarized them in a thread. 

OpenAI CEO Sam Altman was in Germany on Thursday having productive discussions about AI regulation. 

Gemini co-founder Cameron Winklevoss was doing the same in Ireland. 

 

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