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CZ recently shared with the cryptocurrency community that he has a dog: a Belgian Malinois. He also expressed curiosity about the intricacies of launching a meme coin, leading many to believe that the founder of Binance might be considering a new token. Will CZ Launch a Meme Coin? The discussion began when a user on X (formerly Twitter) asked Zhao if he owned a dog. He confirmed that he does, specifying that it is a Belgian Malinois, not a Shiba Inu (a nod to the popular meme coin Shiba Inu). Members of the crypto community eagerly requested CZ to share a photo and the dog`s name, likely hoping to capitalize on the hype to launch a meme coin. Instead of providing details, Zhao asked for clarification on how the process of creating and launching meme coins works. “Honest newbie question. How does this work? I share my dog’s name and picture, and then people create meme coins? How do you know which one is ‘official’? Or does that even matter?” CZ wrote. After receiving explanations from users, CZ indicated that he would consider launching a “meme” token “I’ll think about it for a day or so—as usual, when I need to make an important decision. Respect my dog`s privacy or reveal everything for the cause? I’ll see how meme coins work on BNB Chain,” he noted. Later, Zhao promised to post a photo and name of his dog later that day. Traders began buying BNB aggressively, pushing its price up by more than 20%. At the time of writing, the asset was trading at $712.02. Users Already Launching Meme Coins Dedicated to CZ’s Dog Although CZ has yet to share any details, several meme coins have already been launched by community members. One such token, Binance Dog (CZDOG), surged by 109%, reaching a market capitalization of $8 billion just five hours after its release. Previously, Zhao had not been very supportive of meme coins. “I don`t mind memes, but meme coins are becoming a bit strange. Let’s develop real applications on the blockchain,” he stated in November 2024. This week, CZ mentioned that he has never purchased meme coins. However, this does not imply he is against “meme” tokens. The Binance founder has started discussing meme coins more frequently following an incident involving the TST coin. https://coinpaper.com/7373/what-is-the-tst-token-and-why-did-its-price-jump-by-107-271 This week, the BNB Chain team accidentally launched a “meme” token used in an educational video demonstrating how the new Four.Meme platform operates. As the conversation unfolded, CZ`s playful engagement with the community sparked a wave of enthusiasm among traders and meme coin enthusiasts alike. The prospect of a meme coin inspired by his dog not only generated excitement but also raised questions about the implications of such a launch. With the crypto market being notoriously volatile, many in the community expressed concerns about potential scams and fraudulent tokens that could emerge in the wake of CZ`s hints. Notably, Andre Cronje, a prominent figure in the DeFi space, cautioned CZ to ensure any launch is conducted fairly to protect investors from misleading schemes. This dialogue highlights the delicate balance between fostering community engagement and maintaining responsible practices within the ever-evolving landscape of cryptocurrency.
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HashFlare Co-Founders Plead Guilty in $577M Crypto Mining Ponzi Scheme
![The co-founders of Hashflare, a crypto mining ponzi scheme that stole $577 million from hundreds of thousands of investors around the world, both pleaded guilty on Wednesday to conspiracy to commit wire fraud. Sergei Potapenko and Ivan Turõgin, both 40, were arrested in their native Estonia in November 2022 and extradited to the U.S. on an 18-count indictment. Yesterday, both men pleaded guilty to one count each of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison. Between 2015 and 2019, Potapenko and Turõgin convinced Hashflare’s investors to rent a percentage of the scheme’s crypto mining operations in exchange for a percentage of the cryptocurrency Hashflare produced. But, according to court documents, Hashflare had only a tiny fraction of the mining equipment it purported to have – less than 1% of the computing power Potapeno and Turõgin had sold. When investors tried to claim their proceeds, prosecutors say the two men either resisted making payments by making excuses or paid them back with crypto purchased on the open market. Read more: Two Estonians Charged With Running a Series of Crypto Scams Totaling $575M Potapenko and Turõgin’s lawyers say that none of Hashflare’s investors suffered financial harm, telling CoinDesk that the men’s only crime was lying about the size of Hashflare’s mining operation. “Ivan and Sergei ran successful businesses, providing real services, employing almost 100 Estonians, and doing charitable work in Estonia. As Ivan admitted [Wednesday], one of his and Sergei’s businesses promised to mine crypto and did in fact mine crypto, but not as much as it had promised; instead, it sometimes repaid customers with crypto it had purchased on the open market,” said Andrey Spektor, partner at Norton Rose Fulbright US LLP and counsel to Turogin. “Importantly, however, as we will show at sentencing, no customer has suffered any harm. Ivan and Sergei look forward to returning to Estonia and resuming their lives.” According to court documents, the men used their victim’s money to make dozens of real estate investments and purchase luxury cars. As part of the plea agreement, Potapenko and Turõgin agreed to forfeit assets valued over $400 million, which will be used to pay back investors. Potapenko and Turõgin will be sentenced in a Seattle court on May 8.](/image/67ae4bbec184d.jpg)
The co-founders of Hashflare, a crypto mining ponzi scheme that stole $577 million from hundreds of thousands of investors around the world, both pleaded guilty on Wednesday to conspiracy to commit wire fraud. Sergei Potapenko and Ivan Turõgin, both 40, were arrested in their native Estonia in November 2022 and extradited to the U.S. on an 18-count indictment. Yesterday, both men pleaded guilty to one count each of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison. Between 2015 and 2019, Potapenko and Turõgin convinced Hashflare’s investors to rent a percentage of the scheme’s crypto mining operations in exchange for a percentage of the cryptocurrency Hashflare produced. But, according to court documents, Hashflare had only a tiny fraction of the mining equipment it purported to have – less than 1% of the computing power Potapeno and Turõgin had sold. When investors tried to claim their proceeds, prosecutors say the two men either resisted making payments by making excuses or paid them back with crypto purchased on the open market. Read more: Two Estonians Charged With Running a Series of Crypto Scams Totaling $575M Potapenko and Turõgin’s lawyers say that none of Hashflare’s investors suffered financial harm, telling CoinDesk that the men’s only crime was lying about the size of Hashflare’s mining operation. “Ivan and Sergei ran successful businesses, providing real services, employing almost 100 Estonians, and doing charitable work in Estonia. As Ivan admitted [Wednesday], one of his and Sergei’s businesses promised to mine crypto and did in fact mine crypto, but not as much as it had promised; instead, it sometimes repaid customers with crypto it had purchased on the open market,” said Andrey Spektor, partner at Norton Rose Fulbright US LLP and counsel to Turogin. “Importantly, however, as we will show at sentencing, no customer has suffered any harm. Ivan and Sergei look forward to returning to Estonia and resuming their lives.” According to court documents, the men used their victim’s money to make dozens of real estate investments and purchase luxury cars. As part of the plea agreement, Potapenko and Turõgin agreed to forfeit assets valued over $400 million, which will be used to pay back investors. Potapenko and Turõgin will be sentenced in a Seattle court on May 8. Coinpaper
JPMorgan Warns Tether About Stablecoin Compliance, Paolo Ardoino Responds
Ardoino shot down the JPMorgan report that suggested his firm may be forced to liquidate bitcoin to comply with upcoming stablecoin regulation. Tether’s Paolo Ardoino Addresses JPMorgan’s Warning on Stablecoin Regulation JPMorgan (JPM) published a report on Wednesday warning stablecoin giant Tether, that it could be forced to liquidate some of its bitcoin (BTC) holdings Coinpaper
