| Hey Cryptonews, here's our curated daily bundle of crypto news. | | | Bitcoin notes largest net surge since LUNA's fall |  | | According to Glassnode, the net exchange flows increased by around 4.18K BTC this week, which is the largest net surge seen since the fall of LUNA in May 2022. However, this positive trajectory could soon end.
Analyst James V Stratten believes that Bitcoin puts are being priced at a premium. This means that the cost of buying put options has increased, which could indicate that investors are expecting the price of Bitcoin to fall on the charts.
Moreover, the sentiment among traders revealed that perpetual contracts have now gone into bearish territory. However, despite this, addresses holding more than 1 BTC continued to rise. In fact, figures for the same reached an all-time-high at press time.
| | Learn More | | Ethereum's supply falls off by 70k amid Shapella preparation
|  | Ethereum's supply has fallen off by 70,000 ETH since it transitioned to PoS ETH 2.0 registered 800 new deposits
With about two weeks left until the Shanghai-Capella hard fork, Ethereum's supply has fallen off by 70,000 ETH since it transitioned to the Proof-of-Stake (PoS) consensus mechanism. This means that the number of Ether entering circulation has been lower than those being burned.
In 2021, the projection was that ETH's issuance would reduce by 2% yearly. However, the supply has been decreasing at an unexpectedly rapid rate. At the same time, projections of a slow deflationary status were only supposed to occur in the early stages of ETH 2.0.
Nonetheless, since staking withdrawals are expected to resume by 12 April, it means that the ETH 2.0 is near. Ethereum can now edge toward full-scale deflation pressure.
Meanwhile, the deposit rate on ETH 2.0 has significantly tumbled after registering notable spikes in January and February. At press time, Glassnode's data revealed that the number of new deposits was around 800. It implied that the validators who were faced with contributing 32 ETH to the ecosystem have been restricting extra input. | | Learn More | | Developer claims LinkingLion is collecting BTC users' IP addresses
|  | | According to a blog post by a Bitcoin app developer, an unknown group may be collecting the IP addresses of Bitcoin users and linking them to their BTC addresses. The entity has been active since March 2018, and its IP addresses have shown up on several public posts from Bitcoin node operators over the past several years.
The entity, which the developer calls LinkingLion, associates IP addresses that pass through LionLink network's colocation data center. The entity uses a range of 812 different IP addresses to open connections with Bitcoin full nodes that are visible on the network. Once it opens a connection, the entity asks the node which version of the Bitcoin software it is using.
However, when the node responds with a version number and message stating that it has understood the request, the entity closes its connection about 85% of the time without responding.
This behavior would normally indicate that the user is a node trying to update its copy of the blockchain. However, LinkingLion never requests blocks or transactions, which implies that it must be pursuing some other purpose. | | SBF's bail terms revised, legal fee reimbursement petition slammed |  | SBF allowed to use a cellphone with no internet connection for phone calls, SMS FTX lawyers file objection to SBF's petition to get legal fee reimbursed
Former FTX CEO Sam Bankman-Fried's defense team and prosecutors have agreed on modified bail terms while he awaits trial in his criminal case. The terms allow him to use a cellphone with no internet connection for phone calls and SMS, but prohibit all other communication devices.
Prosecutors have agreed to allow SBF to have access to a laptop with limited access to approved websites, but with monitoring software installed. In case of any suspicion of violation, the device will be subject to a search. In addition, Fried is to stay at his family's Palo Alto home, under the agreed conditions of his parents not letting him access their devices and prohibiting unauthorized devices at the residence.
In other news, lawyers representing FTX and its creditors' committee have fiercely objected to Fried's new petition to have his legal expenses reimbursed. In an objection filing, the lawyers argued that prioritizing his own legal fees at the expense of other potential claimants would be unfair, inequitable, and contrary to the interests of justice.
| | Learn More | | U.S, South Korea make extradition requests for Terra co-founder Do Kwon |  | | Terra co-founder Do Kwon, who was arrested in Montenegro faces extradition requests from both the U.S. and South Korea. While the U.S. made diplomatic efforts to have Kwon handed over, South Korean officials have also requested extradition. Montenegrin Justice Minister, Marko Kovač confirmed the requests and announced that Kwon's detainment had been extended for 30 days.
Kovač stated that the decision on which country to extradite Terra co-founder Do Kwon to will be based on factors such as the severity of the crime and the timing and location of the offense. He added that the custody decision will be made by Montenegro's high court and Kwon may face charges related to allegedly using forged passports in Montenegro before any extradition is granted.
As a South Korean citizen, Kwon is likely to face prosecution in his home country where authorities are already targeting those involved in the collapse of Terraform Labs. However, it remains unclear which country, if any, will be granted extradition.
| | Paxful to refund Earn users impacted by Celsius collapse |  | | Paxful CEO Ray Youssef announced on Twitter that the company will refund its Earn program users impacted by the collapse of the Celsius Network in 2022. Youssef stated that affected users' funds will be available in their Paxful wallets soon.
Crypto lending platform Celsius filed for Chapter 11 bankruptcy in the US, with user deposits accounting for most of its liabilities at $4.72 billion. At the time, neither the firm nor its CEO commented on whether depositors would receive any of their funds. While Paxful has announced it will refund affected users of its Earn program, the amount has not been disclosed yet.
A judge previously ruled that Celsius, not its depositors, owns the funds in its interest-bearing Earn program during a bankruptcy hearing on 4 January. Commenting on the same, Youssef expressed concern over the decision stating that it hurt many users and damaged industry trust. The Paxful CEO also opined that the Earn Account should belong to Celsius' users, not its bankruptcy estate.
| | SEC sues Beaxy exchange, its founder and execs |  | Founder Hamazaspyan, Beaxy Digital charged with unregistered offering of BXY tokens Market makers on Beaxy's platform charged as unregistered dealers
Cryptocurrency exchange Beaxy suspended operations due to an uncertain regulatory environment a day prior to being charged by the U.S. SEC for failing to register as a national securities exchange, broker, and clearing agency. Founder Artak Hamazaspyan and Beaxy Digital were charged by the SEC with unregistered offering of the BXY token and misappropriation of $900k of investor funds.
The SEC is also charging market makers on Beaxy's platform as unregistered dealers, in addition to the charges against Beaxy and its founder. The SEC also alleged that Windy Inc., its co-presidents Nicholas Murphy, Randolph Bay Abbott and Beaxy Chairman Brian Peterson committed securities violations for acting as unregistered dealers and operating the exchange after the departure of Hamazaspyan.
Notably, the SEC has obtained consent decrees from Windy Inc., Murphy, Abbott and Peterson that require them to stop all exchange activities, shut down the Beaxy platform, provide accounting records, return customer assets and funds, and destroy any BXY in Windy Inc.'s possession. They have also agreed to pay penalties and disgorgements.
| | Top cryptos struggle to see green |
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