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- ⛔️ Binance Is Shutting Down Crypto Linked To Hamas
⛔️ Binance Is Shutting Down Crypto Linked To Hamas
PLUS: Gemini Is All Set To Expand Its Office In India
Gm, this is the doodhwala, the crypto newsletter that feels like finding a $50 note in a pair of jeans that you didn’t wear for a long time.
Unexpected, but so-welcome! 💸
Here’s what we got for you today:
🏃♂️ Binance Rescues: Binance Is Shutting Down Crypto Linked To Hamas
♊ Gemini’s Vision: Gemini Is All Set To Expand Its Office In India
📈 Cheese and Charts: Are L1s Irrelevant?
🛠️ Resourcewala: Watch Out For These Crypto Scams
🍼 Doodhshots: SBF’s Ex Snitches On Him
❤️ Binance To The Rescue
We all know what happened in Israel last week.
Hamas, the Palestinian militant group brutally attacked Israel.
But Israel is not backing off.
It’s targeting all Hamas-linked crypto.
And to help Israel in all this, Binance is standing like a big brother.
Here's the whole tea: ☕
Israel has been dealing with attacks from Hamas.
Binance, being the helpful platform it is, decided to assist. 🦸♂️
They quickly found and shut down the suspicious accounts.
These accounts were busy, collecting money since the weekend.
But Binance wasn't alone.
Barclays Bank in the UK got involved too. 📞
They froze a Barclays Bank account that Hamas was using for some donation.
A bit of history: 🛤
Hamas and crypto have a history.
And history is subjective (at least when it’s about relations).
They started asking for crypto money in 2019.
Last year, Israel stopped almost 190 crypto accounts on Binance.
Many of these were connected to groups linked to Hamas.
Some facts for you: 📊
Chainalysis, the blockchain experts, said Hamas got a lot of money in crypto. 💸
But in April, Hamas's military said no and closed their crypto donation program.
A few months later, Israel took $1.7 million in crypto from some groups.
The good news? 🌈
No my ex didn’t call me to say she’s sorry.
People in Israel started Crypto Aid Israel. They want to help those hurt by the conflict.
They're taking popular cryptos like
👉 BTC
👉 ETH
👉 USDT
👉 USDC
At the end of the day, it's about using tech to do good things. 🌍
Big thanks to Binance and everyone working hard. ❤️
♊️ Gemini Loves India
Gemini.
Not the star sign. 🌌
Not the refined sunflower oil. 🌻
Gemini, one of the biggest crypto exchanges in the world, is all set to expand its markets in India. 🇮🇳
And they're bringing in the big 💰💰💰 to ensure that this market expands drastically.
So what are they doing now?
Hiring new folks. ✅
Purchasing new real estate. ✅
Drinking fresh cow milk everyday. ✅✅✅
Why are they doing this? And since when did India become a high priority market for Gemini?
Guess they loved the fresh milk here a lil too much! 🥛
☝️ Gemini loves India
Gemini just invested $24 million to expand its operations in India. 😮
In Indian rupees? Close to 200 crores. 😳
And their plans for expansion now are quite simple—
Get great talent to join the organization
Ensure that the team in India becomes the biggest knowledge center across all Gemini offices
Become the second-largest Engineering Hub after the US
And to get this up and running, they've hired Sachin Ranglani, a leader in the Indian Fintech space to lead the India division. 👀
Not just that, they're set to expand their workforce by 42% by the end of this year.
Mamma Mia, now that's some huge money vision that they have! 😀
✌️ New Office Who dat?
Oh, it doesn’t just end there.
The bois now have a new office in Gurgaon, India, where they’ll be hosting all of this newly hired workforce. 🫂
Boi got a new crib and didn’t invite? 😤
This new office is where Gemini will be expanding its vision for India. 🇮🇳
The crib will also be the epicenter where most tasks related to compliance, security, warehousing, and payments will be processed.
So Gurgaon will now be the city that hosts the offices of one of the largest and oldest exchanges in the crypto ecosystem.
And they’re hiring right now for a bunch of roles in
Engineering
Operations
Compliance
Finance
Talent Acquisition
…and we suggest they hire a Chief Milk Distribution Officer at the earliest. 🥛
Shoot your shot if interested, but just know this G, we didn’t suggest anything. 😉
📈 Cheese and Charts: L2’s » L1’s?
Layer 2 solutions are literally the embodiment of “The Prince, becomes the KING”. 👑
Why?
Well because today, we’ve come to a point where people prefer using L2s over L1 solutions.
And last quarter, over 61% of all transactions were performed by L2 solutions! 😮
Solutions like—
Polygon
Arbitrum
Optimism
BASE (Hehe, Brian is BALD)
…and so many more!
And the stats for these solutions are off the roof! 🏠
Arbitrum (Daily Average Transactions = ~600,000)
BASE (Daily Average Transactions = ~400,000)
Optimism (Daily Average Transactions = ~400,000)
So what does this mean in the end?
Pretty simple folks—
People don’t like paying for Gas.
People like fast solutions.
People love shilling their invite keys on Friend Tech. 🤷♂️
Hey, like it or not, that’s exactly what’s pushing phenomenal L2 adoption.
What do you think? Will L2s take over? Or is it just a FAD?
Hit reply and let us know what you think! 👇
🛠 Resourcewala: Watch Out for These Crypto Scams
You think you're slick with your crypto actions like Neo from The Matrix? 😎
Well, guess what, there's an Agent Smith lurking just behind you.
Every second dude thinks he can outsmart these tricky scamsters, but guess what?
They’re ALWAYS evolving, with tricks slicker than your butter chicken gravy. 🍗
Today's resource got you covered:
The sneaky, snaky ways of crypto scammers 🐍
How to spot ‘em from a mile away 👀
How to keep my coins SAFE? 💰
Plus: 10 juiciest crypto scams
LFG! 🔥🔥🔥
🍼 Doodhshots: SBF’s Ex Hurt Him
🚨 Bankman's Oops: FTX might've dropped a $1B ball due to some not-so-tight security practices. Who left the vault open, Bankman-Fried?
🇭🇰 Hong Kong Heist: Binance users in Hong Kong get scammed for $450K thanks to some sneaky scam texts. Who needs security, anyway?
🇮🇳 Gemini's Indian Jewel: Gemini exchange swoops into the Indian market, roping in a seasoned fintech exec to take control. Namaste, profits?
💸 Billion-Dollar Bluff: A whopping $1 billion crypto recovery fund from Binance manages to deploy...less than $30 million? Keeping those cards close?
🤫 Whispered Billions: SBF’s ex Caroline Ellison drops a bomb, claiming he asked her to snatch billions from FTX customers. Say it ain’t so, Sam!
🤣 Milky Meme Of The Day
Looks ripped.
— Doodhwala 🥛 (@DoodhwalaDaily)
Oct 10, 2023
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That’s all for today folks! See ya tomorrow!
Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.