This Week in the News- May 1

1. Israel Seizes Binance Accounts Allegedly Linked to ISIS– The government of Israel has reportedly seized multiple cryptocurrency accounts on Binance that were allegedly linked to terrorist organizations, including Hamas and ISIS. While Binance has not confirmed the seizure, the Israeli government's action highlights the ongoing challenge of preventing illicit use of cryptocurrencies. This incident could lead to increased regulatory scrutiny on cryptocurrency exchanges and their compliance measures to prevent money laundering and terrorism financing. (source)

2. ARK Invest Holds $2.4B Stock With Crypto Exposure– ARK Invest, the investment management firm founded by Cathie Wood, has disclosed holdings in Coinbase and Grayscale Bitcoin Trust in its latest quarterly report. The report also showed that the firm sold its shares in Alibaba and Tencent, two of the largest Chinese tech companies, amid increased regulatory pressure in China. ARK's crypto-related holdings underscore the firm's bullish outlook on the cryptocurrency market, despite the recent market volatility. The firm has been an active proponent of bitcoin and other cryptocurrencies, and has been investing in the sector through its various funds. (source)

3. UK’s FCA Continues Crackdown on Unregistered Crypto ATMs– The UK's Financial Conduct Authority (FCA) has issued a warning to unregistered crypto ATM operators, stating that they must be registered with the agency or face legal consequences. The FCA has stated that any unregistered crypto ATM operators will be violating money laundering and counter-terrorism financing regulations. This move is part of the FCA's wider efforts to regulate the cryptocurrency sector in the UK, which includes overseeing digital currency exchanges, custodians, and wallet providers. The crackdown on unregistered crypto ATMs is expected to bring more transparency and accountability to the sector, and help prevent criminal activities. (source)

4. Voyager Gives Up Finding Buyer, Plans to Liquidate After Binance Deal Goes Bust– Canadian cryptocurrency broker, Voyager Digital, has announced its plans to liquidate its assets and return the proceeds to its shareholders. The company said that the decision was made after careful consideration and review of its business operations, as well as consultation with its board of directors and external advisers. Voyager Digital offers trading and investment services for cryptocurrencies, and has been expanding its offerings in the sector. The decision to liquidate comes amid growing competition and regulatory scrutiny in the cryptocurrency market, and is expected to help the company streamline its operations and focus on its core strengths. (source)

5. PEPE Meme Coin Hysteria Pushes Ethereum Gas Fees to 1-Year High– The recent hype around the Pepe meme-inspired cryptocurrency has pushed Ethereum gas fees to their highest levels in over a year. Ethereum gas fees are the transaction fees that users pay to miners to have their transactions processed on the network. The popularity of Pepe Cash, a token on the Binance Smart Chain that uses Ethereum for liquidity, has caused a surge in demand for Ethereum transactions, leading to higher gas fees. The high fees have caused frustration among Ethereum users, who are calling for solutions to address the network's scalability issues. This incident highlights the ongoing challenges faced by the Ethereum network in managing the increasing demand for its services. (source)