Both meme coins Pepe (PEPE) and Shiba Inu (SHIB) have experienced significant losses of over 20% in the past week, with PEPE dropping 22% and SHIB falling 21.6%, possibly due to the troubled launch of the Shiba network's layer-2 blockchain, Shibarium. Additionally, Bitcoin and Ethereum have also seen declines after news of Evergrande's bankruptcy filing.
Summary: Amidst the recent dip in Ethereum price, meme coins like Wall Street Memes (WSM) and Elonator (ETOR) have emerged as potential saviors, offering profit opportunities and a sense of hope to investors.
Tornado Cash developers Roman Storm and Roman Semenov have been charged with money laundering and sanctions violations, with Storm already being arrested, as the US Department of Justice alleges that over $1 billion in transactions passed through the privacy mixer, including funds for North Korea's Lazarus Group.
The founders of Tornado Cash, a Russian cryptocurrency mixing service, have been charged with conspiracy to commit money laundering, sanctions violations, and operating an unlicensed money transmitting business. The charges stem from the platform's involvement in over $1 billion worth of alleged money laundering transactions, including funds stolen by a North Korean cybercrime organization.
Pepe (PEPE), a popular meme coin, is facing allegations of suspicious movements in contract addresses and a potential rug pull, causing panic among community members and a significant decline in price.
Crypto's biggest memecoin, PEPE, experienced a major setback when 16 trillion tokens worth $16 million were sold by rogue team members, causing a 26% drop in market capitalization, but the remaining founder vows to continue and decentralize the project.
Summary: Meme cryptocurrencies, including Pepe, LUNC, and SHIB, have experienced price corrections but show potential for a rebound with bullish reversals and recovery rallies expected.
One of the founders of crypto mixer Tornado Cash, Roman Storm, has been released on bail after being charged with money laundering $1 billion, and his case could have implications for all software developers.
Chinese crypto exchange ByGet has announced that it will strengthen its Know-Your-Client (KYC) policy amidst increasing scrutiny from global regulators, following in the footsteps of other crypto exchanges such as OKX and KuCoin. Additionally, the co-founder of Tornado Cash, Roman Semenov, has been added to the U.S. Department of the Treasury's specially designated nationals list.
The team behind Pepe (PEPE) has issued a statement regarding a large transfer of coins, revealing that all founding members except one have sold their stake and abandoned the project, leading to a heavy price correction and the tokens being sold on crypto exchanges.
