"I should have bought it" is a news podcast with the editors and friends of ForkLog about the main industry events of the week and the "hottest" tokens.
Topics of the issue: the resumption of market growth, the invasion of BLOB analogues of Ordinals on Ethereum, the "laundering" of KuCoin and a new round of meme madness.
Participants: ForkLog authors Lena Jess, Alex K., Vasily Smirnov.
Special guests: popadans from the post-apocalyptic universe of Undeads Alexander Fiftieth and Ed Gamprov.
The KuCoin Crisis
The US Federal Prosecutor's Office accuses KuCoin of laundering $9 billion. From 2017 to 2023, the exchange did not apply KYC/AML procedures, serving 30 million customers, and did not register with FinCEN.
KuCoin was used to launder funds from criminal activities and did not report suspicious transactions. In 2023, the company considered closing amid a criminal investigation in the United States and the attention of Chinese authorities.
However, representatives of KuCoin assured users that operational activities are continuing and assets are safe. They declared compliance with laws and regulations, as well as "strict adherence to compliance standards."
Closing CommEX
The CommEX cryptocurrency exchange has announced a gradual shutdown of operations, starting with the closure of trading pairs on April 18 and ending with the shutdown of the site on May 10.
Binance stated that the supervised trading platform did not fulfill its obligations under the deal.
Analysts note the small audience of CommEX and the popularity of other exchanges among Russians, including Bybit, MEXC, KuCoin, Gate.io and Bitget.
New developments around Binance
The Philippine SEC has taken steps against Binance, requesting the blocking of its sites for offering investment services without a license, including spot, derivatives, savings crypto accounts, etc.
Meanwhile, Binance's director of West and East Africa, Nadeem Andjarwalla, has illegally left Nigeria, according to local media. According to their information, the top manager was able to escape from custody on March 22 after he was taken to a nearby mosque for prayer.
Anjarwalla escaped from custody in Nigeria and left the country on an international flight using a Kenyan passport. The authorities are investigating how a British citizen, such as he is, received a travel document, given that the passports of the detainees were seized.
The invasion of the Ordinals BLOB analogues on Ethereum
Vitalik Buterin considers the next five years crucial for the mass adoption of Ethereum and its global adoption. According to him, low fees and user-friendly interfaces are important for attracting new users.
Buterin also mentioned the possibilities of account abstraction to improve security and convenience, including changing/revoking private keys, restoring accounts, paying for gas in ERC-20.
Tom Ngo, CEO of Metis, stated that the Dencun update is the basis for the global implementation of the blockchain and the reduction of fees — the main obstacles to mass adoption.
However, after a large-scale update and activation of EIP-4844 in Ethereum, the use of BLOB transactions to create "inscriptions" by analogy with Bitcoin Ordinals reached 100%.
This data is "ephemeral", stored only for 18 days, remaining only in full archive nodes.
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