Elon Musk’s wallet sought in Arkham crypto bounty, Binance loses ground amid regulatory woes

Merry Wednesday!

Elon Musk’s jet isn’t the only thing people want to track — the billionaire’s wallet is targeted by an Arkham Intelligence user. In other news, Binance keeps losing market shares, and a former executive at disgraced exchange FTX has been hired by a Beijing-based hedge fund. Elsewhere, leading crypto firms like Coinbase and Kraken are strengthening their policy teams with new hires.

Crypto never stops, stay abreast!

Elon Musk wallet bounty sought

Someone operating on Arkham Intelligence’s new Intel Exchange has put up a $670 bounty for the address of Musk’s crypto wallet, according to crypto journalist Molly White.

Akham’s controversial new intel-to-earn app lets users post bounties for blockchain transaction info, which some say violates anonymity among crypto users.

Binance loses ground amid woes

Binance’s market share has dropped from 90% at the beginning of the year to 73%, amid regulatory hurdles. Users pulled over $4 billion out of the company in June alone.

US regulators have fired off several lawsuits against the world’s biggest crypto exchange currently this year.

Crypto firms bulk up policy muscles

Personal news klaxon! Major crypto firms — such as Coinbase, Andreessen Horowitz’s a16z Crypto, Paradigm, Uniswap and Kraken — are bulking up their policy muscles with new recruitment boosts.

These hires come as the regulatory landscape in the US continues to look uncertain for the foreseeable future.

Former FTX executive finds work

Former FTX COO Zhe “Constance” Wang has joined venture capital firm Sino Global Capital, according to a Bloomberg report.

Sino Global disclosed itself as an early FTX investor after the exchange collapsed in November 2022. Wang has not been accused of wrongdoing in any pending FTX case to date.

Moons token reaches for new heights

Moons, social media website Reddit’s native cryptocurrency, has skyrocketed in value after a false rumour that the token would be listed on exchange Kraken led to a proper listing on Crypto.com.

Moons was launched in 2020 for Reddit’s community points programme, and is up 121% on the day.

What we’re reading around the web

OpenSea halts trading of staked-ether NFTs as creator calls marketplace ‘unlicensed casino’ — The Block

‘Assassin’s Creed’ creator Ubisoft throws weight behind Cronos Blockchain — Decrypt

XRP’s 60% weekly gain defies broader crypto slump as Bitcoin stalls below $30K — CoinDesk