Episode Details

27th Nov: Crypto & Coffee at 8 🌍

🔥 CZ challenges U.S. Department of Justice 🟣Zipmex suspends trading in Thailand 🚀Ethereum whales🚀 Islamic coin update❗

🚨 Former Binance CEO Changpeng Zhao challenges the U.S. Department of Justice’s claim that he is a flight risk and may not return before his sentencing. Zhao opposes the government’s attempt to restrict his travel back to the United Arab Emirates to be with his family after pleading guilty. In a court filing on Nov. 23, Zhao’s lawyers requested a U.S. district judge to reject proposed changes to his bail conditions by the Department of Justice. Filing here https://tinyurl.com/md5dffex

- The lawyers firmly stated that he has no intention of staying in UAE to evade his sentencing date despite the potential 18-month prison term.

- However, the DOJ asserts that if Zhao chooses not to return from the UAE for sentencing, securing his return would pose challenges for the government

🛑 Zipmex

- In a statement released on November 25, cryptocurrency exchange Zipmex has declared the suspension of all digital asset trading in Thailand. This proactive measure is part of Zipmex’s commitment to ensuring compliance with regulations set forth by the Securities and Exchange Commission, Thailand Info via FB post here https://tinyurl.com/4xcwnsm9

💡 It is important to note all customers will be able to withdraw both Thai Baht and digital assets from the Trade Wallet as usual through the website and mobile application until January 31, 2024.

🚀 ETH Whales: Crypto analyst Ali Martinez shared on Twitter https://tinyurl.com/bd7m8m58 that Ethereum whales have been notably active in the crypto market in recent days. On-chain data from Glassnode indicates that these whales have been consistently accumulating the altcoin for a consecutive period of nine days. He highlighted that this is the first 9-day accumulation spree in over nine months.

❗ Islamic Coin Official update

The issuer of the Islamic coin, Bored Gen DMCC, has fully cooperated with the ongoing investigation by the Virtual Assets Regulatory Authority regarding the token’s issuance and distribution. However, Bored Gen must obtain “appropriate approvals” before proceeding with the distribution of the Islamic coin (ISLM) in the Dubai market. More info via Bitcoin.com here https://tinyurl.com/3e2t5jmm

🚨 On 6th Oct VARA blocked the sale and distribution of ISLM after a determination was made that BG lacked the authority to do so.

🎙️ Check out Blockchain DXB’s Crypto & Coffee at 8 podcast where we give our commentary on this. Also, see slides 1 & 2 for a global snapshot of the crypto market

🟠 Two UAE news (See slides)

⚡ The Sandbox and Sandsoft Partner With 

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