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The SEC chairman was approached by Binance in 2018 and 2019, while teaching at the Massachusetts Institute of Technology. Crypto exchange Binance sought to hire Gary Gensler as an advisor before he became chairman of the United States Securities and Exchange Commission (SEC), according to a Wall Street Journal report based on messages and documents from 2018 and 2020, as well as interviews with former employees. Gensler was approached by the crypto firm while teaching at the Massachusetts Institute of Technology (MIT) in 2018 and 2019. During that tim, he was a former Commodity Futures Trading Commission chair as well.Messages from Binance’s executives seen by the newspaper indicate that Ella Zhang, then head of Binance’s venture investing arm, and Harry Zhou, co-founder of Binance-invested firm Koi Trading, met with Gensler in October 2018. After Gensler declined the advisor position, Zhou wrote in the chat: “I observe that while Gensler declined advisor-ship, he was generous in sharing license strategies.”According to a Binance employee, Gensler would be “likely back in a regulators seat if Dems win the 2020 election.” The second meeting took place in March 2019 in Tokyo between Gensler and Binance’s founder Changpeng “CZ” Zhao. In April 2021, Gensler became the SEC chair.As per the newspaper, Gensler was approached by multiple private companies to serve as an advisor while at MIT, which he declined. The report highlights the relationship between Binance and its American arm, Binance.US. Fearing for regulatory scrutiny, the exchange’s executives took steps years ago to mitigate the risk, including setting up an American entity that would attract enforcement and regulatory inquiries, thereby shielding Binance from regulatory oversight.In a presentation titled “Insulate Binance from US Enforcement”, employees suggested that Binance should have a “purely contractual” relationship with the American unit, positioning them as separate operations.Binance is reportedly preparing to face fines and penalties in order to settle outstanding regulatory and law-enforcement investigations in the United States. Binance’s chief strategy officer Patrick Hillmann said the firm has been working with regulators to remedy past compliance issues.Binance did not immediately respond to Cointelegraph’s request for comment.

BTC price is attempting to stage a recovery, while EOS, STX, IMX and MKR are beginning to flash bullish signals. The United States equities markets made a strong recovery this week but Bitcoin (BTC) failed to follow suit. This means that cryptocurrency investors stayed away and could be worried by the ongoing problems at Silvergate bank. These fears could be what is behind the total crypto market capitalization dropping to nearly $1 trillion.The behavior analytics platform Santiment said in a report on March 5 that there was a “huge spike of bearish sentiment” according to their bullish versus bearish word comparison Social Trends chart. However, the firm added that th “kind of overwhelmingly bearish sentiment can lead to a nice bounce to silence the critics.”Crypto market data daily view. Source: Coin360Another short-term positive for the crypto markets is the weakness in the U.S. dollar index (DXY), which fell by 0.70 in the past 7 days. This suggests that crypto markets may attempt a recovery over the next few days. As long as Bitcoin remains above $20,000, select altcoins may outperform the broader markets.Let’s study the charts of Bitcoin and the four altcoins that are showing promise in the near term.BTC/USDTBitcoin plummeted below the $22,800 support on March 3. Buyers tried to push the price back above the breakdown level on March 5 but the long wick on the candlestick suggests that bears are trying to flip $22,800 into resistance.BTC/USDT daily chart. Source: TradingViewThe 20-day exponential moving average ($23,159) has started to turn down and the relative strength index (RSI) is below 44, indicating that bears are trying to solidify their position. Sellers will try to sink the price below the support at $21,480. If they can pull it off, the BTC/USDT pair may retest the vital support at $20,000.If bulls want to prevent the downside, they will have to quickly thrust the price above the 20-day EMA. Such a move will suggest aggressive buying at lower levels. The pair may then rise to $24,000 and thereafter rally to $25,250. A break above this resistance will indicate a potential trend change.BTC/USDT 4-hour chart. Source: TradingViewThe moving averages are turning down on the 4-hour chart and the RSI is near 39. This indicates that bears have the upper hand. If the price turns down from the 20-EMA and breaks below $21,971, the pair may retest the support at $21,480.Instead, if bulls drive the price above the 20-EMA, it will suggest that the bears may be losing their grip. The pair could then climb to the 50-simple moving average. This is an important level for the bears to defend because a break above it may open the gates for a rally to $24,000.EOS/USDTEOS (EOS) broke above the vital resistance of $1.26 on March 3 but the bulls could not sustain the higher levels. However, a positive sign is that the price has not dropped below the 20-day EMA ($1.17). EOS/USDT daily chart. Source: TradingViewThe gradually upsloping moving averages and the RSI in the positive zone indicate advantage to the bulls. The EOS/USDT pair has formed a rounding bottom pattern that will complete on a break and close above the $1.26 to $1.34 resistance zone. This reversal setup has a target objective at $1.74.The important support to watch on the downside is the 50-day SMA ($1.10). Buyers have not allowed the price to tumble below this support since Jan. 8, hence a break below it may accelerate selling. The next support on the downside is $1 and then $0.93.EOS/USDT 4-hour chart. Source: TradingViewThe bears pulled the price below the 20-EMA but a minor positive is that bulls have not allowed the pair to slide to the 50-SMA. This suggests that lower levels continue to attract buyers. If the price rises above the 20-EMA, the bulls will again try to clear the hurdle at $1.26. If they do that, the pair may surge to $1.34.This positive view could invalidate in the near term if the price turns down and breaks below the 50-SMA. That may extend the fall to $1.11.STX/USDTStacks (STX) rallied sharply from $0.30 on Feb. 17 to $1.04 on March 1, a 246% rise within a short time. Typically, vertical rallies are followed by sharp declines and that is what happened.STX/USDT daily chart. Source: TradingViewThe STX/USDT pair plunged to the 20-day EMA ($0.69) where it is finding buying support. The 50% Fibonacci retracement level of $0.67 is also close by, hence the bulls will try to protect the level with vigor. On the upside, the bears will try to sell the rallies in the zone between $0.83 and $0.91. If the price turns down from this overhead zone, the sellers will again try to deepen the correction. If the $0.67 cracks, the next support is at the 61.8% retracement level of $0.58.Contrary to this assumption, if buyers thrust the price above $0.91, the pair may rise to $1.04. A break above this level will indicate a possible resumption of the uptrend. The pair may then rally to $1.43.STX/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that the 20-EMA is sloping down and the RSI is in the negative territory, indicating that bears have a slight edge. Sellers are likely to defend the moving averages during pullbacks. They will try to maintain their hold and sink the price to $0.65 and then to $0.56. The bulls will try to fiercely defend this support zone.The first sign of strength will be a break and close above the 50-SMA. The pair may then rise to $0.94 and later to $1.04.Related: Binance recommends P2P as Ukraine suspends hryvnia use on crypto exchangesIMX/USDTImmutableX (IMX) rebounded off the 50-day SMA ($0.88) on March 3 and closed above the 20-day EMA ($1), indicating solid demand at lower levels.IMX/USDT daily chart. Source: TradingViewThe IMX/USDT pair could rise to $1.12 where the bears will again try to stall the recovery. If buyers bulldoze their way through, the pair could accelerate toward the stiff overhead resistance at $1.30. This is a crucial level to keep an eye on because a break and close above it may signal the start of a new uptrend. The pair may then soar to $1.85.Contrarily, if the price turns down from the current level or $1.12, it will suggest that the bears have not yet given up. Sellers will then again try to sink the pair below the 50-day SMA and gain the upper hand. If they succeed, the pair could slump to $0.63.IMX/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that the price is oscillating between $0.92 and $1.12. Usually, in a range, traders buy near the support and sell close to the resistance. The price action inside the range could be random and volatile.If the price rises above the resistance, it suggests that the bulls have overpowered the bears. The pair may then rally toward $1.30. On the contrary, if bears sink the price below $0.92, the pair may turn negative in the near term. The support on the downside is at $0.83 and next at $0.73.MKR/USDTAfter a short-term pullback, Maker (MKR) is trying to resume its up-move. This suggests that the sentiment remains positive and traders are viewing the dips as a buying opportunity.MKR/USDT daily chart. Source: TradingViewThe upsloping moving averages and the RSI in the positive territory indicate that the path of least resistance is to the upside. If buyers sustain the price above $963, the MKR/USDT pair may start its journey to the $1,150 to $1,170 resistance zone.If bears want to stall the bullish trend, they will have to pull the price below the 20-day EMA ($807). If they manage to do that, stops of several short-term traders may be hit. The pair may then decline to the 50-day SMA ($731).MKR/USDT 4-hour chart. Source: TradingViewThe pair had been trading between $832 and $963 for some time but the bulls are trying to kick the price above the range. The 20-EMA has turned up and the RSI is in the positive territory, indicating that bulls are in command.If the price sustains above $963, the pair may attempt a rally to the target objective of $1,094. On the other hand, if the price turns down sharply below $963, it will suggest that the breakout may have been a bull trap. That could extend the consolidation for a while longer.The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

David Hoffman apologized for spreading rumors about what he called a “Wells Notice Carpet Bombing” targeting crypto firms. Co-founder of content studio Bankless David Hoffman apologized for spreading rumors about what he called a “Wells Notice Carpet Bombing” targeting crypto firms, including the decentralized finance protocol Lido Finance. “Carpet bombing” was a reference to an allegedly flood of well notices sent to crypto firms last week, Hoffman was told by a source. He shared the unverified information on March 3 during the Bankless Show podcast. “Many wells notices have been issued to many of the DeFi apps. […] Wells notices have got shot out across the industry in the last week. It has not come to light yet,” he said, before noting that “I think Lido got one.”On the same day, Hoffman clarified on Twitter that Lido had denied the claim and apologized for naming the protocol in the rumor. “Lido doesn’t deserve to be focused on specifically here,” he said, before reiterating that unannounced wells notices had been sent to crypto companies:”After checking in with other sources, it seems generally assumed that there are Wells Notices out there that are unannounced, but it’s impossible to tell how many, or how recently they’ve been served.”The rumor led to nearly a 20% decrease in the Lido DAO (LDO) token price on March 3, according to CoinMarketCap data. Lido Finance did not respond immediately to Cointelegraph’s request for comment.Update on the “Wells Notice Carpet Bombing” statements in the Weekly RollupI checked in with my source, and have some clarifications to make. 1. Timing and concentrationI said that “Many Wells notices have been distributed In the last week or so”. The “week” part is… https://t.co/1TzUWYyxVd— DavidHoffman.bedrock _ (@TrustlessState) March 3, 2023 A wells notice is a warning sent by a regulatory authority to inform about violations found through an investigation. Essentially, it’s a letter telling a company about an impending enforcement action. Stablecoin issuer Paxos recently received a wells notice from the United States Securities and Exchange Commission (SEC) for allegedly violating investor protection laws in relation to its Binance USD (BUSD) token, which the commission claims is an unregistered security. Rumors about wells notices recently hit the USD Coin issuer Circle. Circle Pay’s chief strategy officer and head of global policy, Dante Disparte, quickly debunked the speculation, Cointelegraph reported.

While tens of millions worth of crypto were donated to Ukraine in the last year, pro-Kremlin groups have also leveraged digital currencies to buy military supplies and spread propaganda. In the Russia-Ukraine war, both sides of the conflict have been leveraging cryptocurrencies to achieve the upper hand. Pro-Ukraine causes have collected around $200 million from crypto donations, showing how borderless and uncensorable money could be useful in time of emergency. But the Russian side has taken advantage of crypto too: a total of about $5 million was raised by pro-Kremlin groups and propaganda outlets in the course of the invasion, as revealed by a recent Chainalysis report. These entities are small grassroot organizations that have used crypto to bypass western financial sanctions. “We’re really looking at individual actors. So somebody who’s on the front, somebody who’s trying to help provide more military resources to the front […] things like bulletproof vests or drones,” explained Andrew Fierman, head of Sanctions Strategy at Chainalysis and one of the authors of the report. But those numbers don’t take into account ransomware attacks: As shown in Chainalysis data, in the course of 2022, over $450 million were paid to these entities, the majority of which were believed to be based in Russia. Some of them, like the cybercriminal group Conti, have openly supported the Russian government in its war effort. “When it comes to ransomware payments, a lot of the time bad actors have some sort of political agendas behind what they’re doing,” Fierman pointed out. To find out more about the impact of crypto in the Ukrainian conflict and how Russia leveraged it to promote its cause, check out the full interview on our YouTube channel and don’t forget to subscribe!

Blockchain’s transparency and traceability can aid sustainability and reduce carbon emissions for climate change. With rising temperatures, melting ice caps and more frequent and intense extreme weather events, the effects of climate change are becoming more and more obvious. There is an urgent need to prevent climate change, and numerous technologies and methods are being investigated to do so. Blockchain technology is one of these possibilities, and it has the potential to be very effective in the fight against climate change.At its core, blockchain is a decentralized ledger that can securely and transparently record transactions and store data. This technology has already been used in a variety of applications, from cryptocurrency to supply chain management. However, its potential applications in combating climate change are still being explored.Here are a few ways in which blockchain can help combat climate change.Bring it on, Global Warming!The United Citizens Organization launched an initiative during Cop26 to help combat climate change with blockchain technology. https://t.co/4FPlyHP2qb— Cointelegraph (@Cointelegraph) November 11, 2021 Creation and management of carbon creditsThe creation and administration of carbon credits is one way that blockchain technology can help fight climate change. A tradable permit called a “carbon credit” permits the holder to emit a certain amount of greenhouse gases, such as carbon dioxide. To reduce their emissions, businesses and organizations can buy carbon credits, which can be traded on a market.The management of carbon credits may become more transparent and effective with the use of blockchain. All carbon credit transactions can be tracked in real-time and documented using a decentralized ledger. By doing so, fraud can be avoided, and the intended use of carbon credits can be guaranteed.The management of carbon credits may become more transparent and effective with the use of blockchain. All carbon credit transactions can be tracked in real-time and documented using a decentralized ledger. By doing so, fraud can be avoided, and the intended use of carbon credits can be guaranteed.Promote renewable energy sourcesBy establishing a decentralized energy infrastructure, blockchain technology can also encourage the adoption of renewable energy sources. Without the aid of a centralized organization or utility company, people and companies can buy and sell renewable energy directly from and to one another using a decentralized energy grid. This can support the adoption of renewable energy sources, such as solar and wind power, and lessen dependency on fossil fuels.Related: Bitcoin miners as energy buyers, explainedSupply chain managementSupply chain management is another area where blockchain technology is being used to tackle climate change. Businesses can find opportunities to lower their carbon footprint and make more sustainable decisions by utilizing blockchain to track the carbon footprint of products and materials across the supply chain. By promoting sustainable production and consumption practices, greenhouse gas emissions can be significantly reduced.Monitoring and reporting carbon emissionsThe monitoring and reporting of carbon emissions from numerous sources, such as businesses, vehicles and structures, can also be done using blockchain technology. Governments and organizations can more precisely measure and report on their emissions and monitor progress toward their emission reduction targets by utilizing a decentralized ledger to track emissions.Related: Carbon market gets a much-needed boost from blockchain technology — Web3 execChallenges to implementing blockchain to reduce carbon emissionsUsing blockchain technology to address climate change is not without its difficulties and restrictions. The requirement for standardization and compatibility is one obstacle. Blockchain needs a uniform set of rules and protocols that all stakeholders can agree upon in order to manage carbon credits and track emissions effectively. The scalability of blockchain technology presents another difficulty. Many blockchain networks currently only have a modest amount of capacity and can only process a small number of transactions. If blockchain is widely utilized to manage carbon credits or track emissions, this might become a bottleneck.Last but not least, there are issues with the energy usage of blockchain technology. Some of the environmental advantages of adopting blockchain to fight climate change may be outweighed by the energy consumption necessary for blockchain transactions. The road aheadAlthough blockchain technology is still in its infancy in terms of adoption and development, its prospective uses in halting climate change are promising. Blockchain can hasten the shift to a low-carbon economy by enhancing transparency, efficiency and accountability in regulating carbon emissions and encouraging sustainable practices. Yet in order for blockchain to be successful in addressing climate change, there are also difficulties and constraints that must be overcome. Ultimately, a combination of technologies and solutions will be required to address the complex and urgent challenge of climate change.