The biggest news in the cryptoverse for Sept. 1 includes Michael Saylor disagreeing with allegations of tax avoidance, U.S. probing Binance over AML compliance since 2020, Celsius asking to return $210 million to creditors, and OpenSea supporting only NFTs on PoS post-merge.
CryptoSlate Top Stories
Saylor respectfully disagrees with DC AG allegations of tax avoidance
Following the tax fraud case filed against Bitcoin Maximalist Michael Saylor on Aug. 31, he has issued a statement claiming that he has no tax liability to the District of Colombia since his residence is in Miami.
The lawsuit had earlier stated that Saylor deliberately claimed to be a resident of lower tax jurisdictions like Miami so as to avoid paying taxes to the District where he reportedly has “multiple yachts” and a luxury penthouse.
Saylor said in a statement:
“I respectfully disagree with the position of the District of Columbia, + look forward to a fair resolution in the courts.“
Ethereum POW token may trade for $18, Paradigm predicts
Analysts at Paradigm weighed the difference between ether’s spot and future prices and arrived at a prediction that the Ethereum POW token may trade at $18 post-merge.
It added that ETHPOW would be priced at 1.5% of ETH’s current market cap given that ETH holders currently have a neutral bias toward the futures market.
Babylon Finance to shut down Nov. 15 after failing to recover from Rari/FEI hack
Months after Babylon Finance suffered an $80 million hack, the protocol has announced it will shut down operation effective on Nov. 15.
The effect of the exploit was compounded by the declining market conditions. Consequently, users have exited 75% of the assets locked in the protocol.
The announcement caused the BABL token to crash 92% after dropping from about $5 to as low as $0.218, as per Congecko data.
Creditors file fresh suit against Celsius seeking $22.5M reimbursement
A new group of creditors has filed a lawsuit against Celsius seeking repayment of $22.5 million.
The creditors stated that their funds were held in the custodial account and are redeemable based on the agreed term of service.
The creditors have urged the court to allow Celsius to reimburse their withheld assets.
Celsius wants to return $210 million worth of custody assets
Due to the growing filings by aggrieved creditors, Celsius has filed a motion seeking the court to allow eligible customers to withdraw up to $210 million from the platform.
The crypto lender confirmed that the affected…
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