The biggest news in the cryptoverse for Sept. 5 includes Binance ceasing support for USDC, Michale Saylor calling Bitcoin Lightning Network the most important technology and FatManTerra tricking his followers with a fake investment scheme.
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Binance will stop supporting USDC, certain other stablecoins by Sept. 29
Binance will reportedly cease support for the USDC stablecoin across its platform from Sept. 29. It expects that the move will enhance liquidity and capital efficiency for users.
Binance CEO “CZ” clarified that the move does not translate to delisting USDC as users can still deposit and withdraw USDC from its platform.
Not delist. You can still deposit and withdraw USDC. Just merging all liquidity into one pair. Best price, lowest slippage for users.
— CZ 🔶 Binance (@cz_binance) September 5, 2022
Saylor says Bitcoin’s Lightning Network most important technology in the world right now
Bitcoin Maximalist Michael Saylor said the Bitcoin Lightning Network is very important to the world of technology today as it will help scale BTC to billions of customers and will allow developers to build highly scalable dApps.
He also announced that MicroStrategy is developing an in-house Lightning network solution. Upon release, the infrastructure will help bring Bitcoin adoption to over 10 million customers.
FatManTerra educates community on crypto scams by creating fake investment scheme
In less than 2 hours, crypto influencer FatManTerra received over $100,000 from community members that fell for his fake investment scheme.
Inspired by Lady of Crypto, a while ago I pitched my own investment scheme to Twitter…
In two hours, I received over one hundred DMs. I raised 3.45 BTC from Twitter and 2 BTC from Discord – over $100k, with more requests flooding in by the minute.
But there’s a little twist.
— FatMan (@FatManTerra) September 5, 2022
He plotted the scheme to educate community members against falling for influencers who promise astonishing high-yield opportunities without a clear explanation as to how the yields will be generated.
Congress not looking to ban crypto as it has ‘too much money and power behind it’
U.S. Congressman Brad Sherman who has been a vocal critic of cryptocurrencies said that it is unlikely that Congress will place a ban on the crypto industry as it has grown too big with so much money and power behind it.
However, Sherman expressed pessimism that the crypto industry still poses a threat to the U.S. economy,…
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