UN Flags USDT Fraud, Binance Launches MANTA Network, BRC-20 Tokens Boost Bitcoin, and Bitcoin Rent Agreements in Argentina

OMG NEWS OF THE DAY

UN Flags USDT for Fraud in Southeast Asia

In a report published on Monday, the United Nations raised concerns about the use of Tether’s USDT stablecoin for money laundering and scams in Southeast Asia. The UN identified online gambling platforms, especially illegal ones, as popular avenues for cryptocurrency-based money launderers, particularly those using USDT. The report also highlighted the involvement of USDT in underground fraud, including romantic scams known as “pig butchering.”

🌎 UN warns: #Tether is increasingly favored by money launderers.

According to a report released by the UN Office on Drugs and Crime on Monday, #USDT is at the core of a growing fraud industry.

Including the strategy of using false romantic relationships to gain the trust of… pic.twitter.com/VBAnseqXyP

— Ajay Kashyap (@EverythingAjay) January 15, 2024

Binance Launches MANTA Network Amid Soaring TVL

Binance has introduced its 44th project, Manta Network (MANTA), a modular Layer 2 solution for Zero-Knowledge (ZK) applications. This move comes as Manta Pacific, the in-house Layer 2 modular blockchain by Manta Network, experiences a significant surge in Total Value Locked (TVL), surpassing $800 million. Users can stake BNB and FDUSD in separate pools to farm MANTA tokens, with the listing scheduled for January 18, 2024.

New #Binance Launchpool: $MANTA@MantaNetwork is the modular L2 for ZK applications.

Learn more 👇https://t.co/6EBLkHYlEP

— Binance (@binance) January 15, 2024

BRC-20 Tokens: A Key Narrative for Bitcoin

Binance Research highlighted the significance of BRC-20 tokens in its latest report, stating that they ushered in a “new era” for Bitcoin in 2023. Despite skepticism about their place in the Bitcoin ecosystem, Binance Research emphasized the impact of BRC-20 tokens on Bitcoin’s growth and dominance. The report noted a 24% increase in Bitcoin’s market dominance, attributing it to the influence of inscriptions and BRC-20 tokens.

Bitcoin Rent Agreement in Argentina: Paying Rent in BTC

In Rosario, Argentina, a local landlord and tenant have signed a rental agreement where the tenant will pay monthly rent in Bitcoin.

Ratificamos y confirmamos que en Argentina se podrán pactar contratos en Bitcoin.

— Diana Mondino (@DianaMondino) December 21, 2023

This groundbreaking contract, made possible by recent legal amendments, equals a monthly payment of $100 in Bitcoin. Both parties involved are experienced crypto users, and the move aligns with the country’s regulatory changes allowing the use of Bitcoin in various financial transactions.

VIVA LA LIBERTAD CARAJO

CC: @PhilippBagus pic.twitter.com/DuXcnobkVd

— Javier Milei (@JMilei) December 21, 2023

TWEETS OF THE DAY

Shout out to Fred here. This is a great FAQ. https://t.co/Mxa6c3Fxan pic.twitter.com/VaecyGUbr7

— James Seyffart (@JSeyff) January 15, 2024

$APEX pumped 700%$WIF shooted 600%$METIS skyrocketed 400%

What's the next #crypto that's going to explode?👇

— Elja (@Eljaboom) January 15, 2024

Our research team has prepared a comprehensive report on the crypto developments of the past year. Plus, a look at potential recurring themes for 2024.

I highly recommend anyone in the industry to read it. https://t.co/sOmRw5uwn4

— Richard Teng (@_RichardTeng) January 15, 2024

Welcome to the Era of Open Money https://t.co/fT7TL5oAt0

— Jeremy Allaire (@jerallaire) January 15, 2024

It’s time.

The State of the USDC Economy 2024 Report has arrived, bringing new insights and a global perspective on $USDC and the internet financial system. The #OpenMoneyEra is bringing greater speed, accessibility, and innovation to the global economy. Read it now:… pic.twitter.com/68XQA1dkFK

— Circle (@circle) January 15, 2024

Really cool chart showing $IBIT’s Day One volume broken down by time of day and exchange (which shows off just how many places an ETF gets listed on) via my colleague ⁦@thetrinianalyst⁩ who is working today bc he’s in London pic.twitter.com/Rj5ZNYLL9d

— Eric Balchunas (@EricBalchunas) January 15, 2024

🥲 #Ethereumfee pic.twitter.com/mdTgLXgTzZ

— HodlFM Team (@Hodl_fm) January 15, 2024

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.