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Founder of Tron Justin Sun has apologized to Binance CEO Changpeng "CZ" Zhao after the latter warned followers that Sun could use Binance's Launchpool platform to farm giant amounts of a new blockchain token called Sui.

CZ took to Twitter this morning after news broke that Sun had transferred $56 million to the exchange, warning him that Binance would take action against it if Sun then uses the funds to acquire Sui tokens on Launchpool.

The tweet that caught CZs eye came from the @whale_alert bot, an account that tracks large blockchain transactions.

CZ went on to explain that Binances Launchpool platform is intended for retail users (individual investors, as opposed to institutions) and not just for a few whales. Launchpool lets Binance users farm new project tokens and acquire rewards by staking tokens like BNB and dollar-pegged stablecoin TrueUSD (TUSD) in staking pools on the platform.

Sun replied to CZ twenty minutes later with an apology, explaining that the transfer was due to an oversight stemming from TRON DAOs market making partnership with TUSD and was emphatically not an attempt by him to hoard Sui tokens.

He also shifted the responsibility for the transfer onto team members [that] were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns.

In the same tweet, Sun claims the DAO has arranged a full return of the funds with Binance.

CZ has yet to tweet an update on the situation. Binance did not immediately respond to Decrypt's request for comment.

A Tron spokesperson toldDecrypt that the $56 million refund has been executed.

The Sui network is a layer-1 blockchain created by Mysten Labs, a startup that was founded by former executives of Metas crypto division.

Its a proof-of-stake blockchain built using the open-source Move programming language, which was originally developed for Metas abandoned Diem crypto project.

If this all sounds familiar then its because its pretty much the same pitch as Aptos, another recently launched newcomer Layer-1 blockchain developed by former Meta crypto experts.

Suis mainnet is slated to go live this Wednesday at 12pm UTC. Binance is facilitating the launch by making Sui the 33rd project to debut on its Launchpool platform.

Snapshots of both users and pools balances are taken every hour and rewards are calculated each hour too; customers can unstake their funds at any time. The total farming period will run for two days after the launch of Suis mainnet.

When Suis liquidity meets Binances requirements, the exchange will then list the token under the SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs.

So far, users have staked nearly ten million BNB (over $3 billion) in Suis BNB Launchpool and half a billion over in TUSDs pool.

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Justin Sun Calls $56M Token Transfer to Binance an 'Oversight', Requests Full Refund - Decrypt

Over $137M worth of crypto were liquidated in the last 24 hours as the crypto market started to fall, according to Coinglass data.

CryptoSlate numbers indicate that Bitcoin (BTC) price fell by -2.49% in the last 24 hours, dragging most altcoins.

Out of $137.22 million that got liquidated in a day, $62.9 million came from BTC, which accounts for over 45% of the total amount. Another large chunk was from Ethereum (ETH), with $31.53 million. The remaining altcoins recorded nearly $2 million in liquidations each.

According to numbers categorizing liquidations based on exchanges, most were from long positions.

OKX came forwards as the exchange that facilitated the most significant amount of liquidations with $47.63 million, which accounted for 34.71% of the total amount liquidated in the last 24 hours. Binance followed OKX as a close second with $45.39 million of liquidations.

CryptoSlate data indicates that 91 coins recorded a price fall in the last 24 hours. Larges decreases were recorded by XinFin (XDC), SingularityNET (AGIX), and Stacks (STX) with -6.68%, -6.37%, and -5.71%, respectively.

In addition to BTC, which lost -2.49% of its value, ETH, XRP (XRP), Cardano (ADA), and Solana (SOL) lost -3.05%, -2.83%, and -5.4%, respectively.

Despite the overall market drop, CryptoSlate data reveal that the media sector recorded a 16.77% growth in the last 24 hours.

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OKX and Binance lead the way in $137M crypto liquidation as market stumbles - CryptoSlate

Gemini, an American cryptocurrency exchange and custodian has updated its users about the progress in the mediation process to get users investment back. The next 30-days are critical to the mediation process between Genesis, Gemini and the DCG Group.

Binance Coin (BNB) price is sliding lower this Monday as what appears to be quite a global descent for most major crypto and alt currencies. The leg lower makes sense though as price action grew overheated over the weekend with a late rally on Sunday that pushed the Relative Strength Index (RSI) nearly into overbought territory. Expect a small leg lower with support soon to kick in so that the RSI eases a bit before seeing price action swinging back up again.

Things are starting to get interesting for cryptocurrencies again, especially with the spike in volatility over the weekend. With two major macroeconomic events scheduled, traders can expect a lot more.

Lets break down the events, key levels and narratives for this week.

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Cryptocurrencies Price Prediction: DCG, Binance & Bitcoin European Wrap 1 May - FXStreet

This week, the blockchain world saw some exciting developments. Collateral Network (COLT) was able to thrive during the presale, Binance (BNB) ran into some major financial obstacles and VeChain (VET) launched its revamped whitepaper. Of these three, Collateral Network (COLT) was the brightest star this week, with thousands of people buying discounted COLT tokens at a price of only $0.014 in the second presale stage.

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Collateral Network (COLT) is transforming the way individuals access financial resources by introducing a blockchain-based solution as an alternative to traditional banking systems.

Through Collateral Network (COLT), borrowers can leverage their valuable possessions, such as rare art pieces and precious metals, as collateral to secure loans. What differentiates Collateral Network (COLT) is its innovative use of fractionalized NFTs to represent a borrowers physical assets.

For lenders, Collateral Network (COLT) removes obstacles by removing the high minimum investment thresholds typically found in conventional lending. As such, Collateral Network (COLT) democratizes the lending process, allowing lenders from all walks of life to participate in funding the loans through the NFT fractions, regardless of their investment size.

The COLT utility token is central to this decentralized platform, facilitating transactions between everyone using Collateral Network (COLT). Token holders also benefit from a range of advantages, including staking rewards, reduced fees on the marketplace, and improved borrowing rates on the Collateral Network (COLT) marketplace.

The current Collateral Network (COLT) presale has piqued the interest of investors globally, as they take advantage of early-bird pricing before COLT is listed on exchanges. The enthusiasm surrounding Collateral Network (COLT) has led to forecasts of a 35-fold increase in the tokens value upon the platforms full launch.

>>BUY COLT TOKENS NOW<<

Binance (BNB), the premier global cryptocurrency exchange, currently faces challenges in establishing banking relationships in the U.S. Without a partner, Binance (BNB) will be unable to provide fiat on-ramps and off-ramps to its customers in the U.S.

This situation arises from the recent downfall of the previous partners of Binance (BNB), Silicon Valley Bank and Silvergate. As these crypto-friendly banks are no longer available, Binance (BNB) is forced to forge new partnerships that were otherwise not necessary.

Adding to the woes of Binance (BNB) is the unclear regulatory stance on cryptocurrencies in the U.S. In fact, CZ, the CEO of Binance (BNB), has recently been targeted by the SEC over alleged trading infractions.

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Despite these obstacles, investors continue to express confidence in Binance (BNB), with the BNB token up 5% in the last seven days. Financial analysts anticipate that Binance (BNB) will maintain a price range of $300 to $350 until further positive news materializes.

VeChain (VET) has grabbed the attention of crypto enthusiasts with its freshly-released whitepaper. The new whitepaper, called Web3 for Better, outlines the VeChain (VET) view on the problems facing the world today, and how blockchain can help solve them.

VeChain (VET) aims to combine Web3 technologies with electric vehicle battery recycling, second-hand fashion marketplaces, blockchain biospheres, 3D printing and more. The goal is to build a global trust infrastructure that offers safe, secure and convenient solutions for businesses and individuals.

With enterprises needing blockchains to meet ESG standards, VeChain (VET) wants to be the prime ESG-friendly blockchain for sustainable business operations. VeChain (VET) also plans to reduce costs and enhance efficiencies through its two-token system, where the VTHO token is used to pay for transactions on the network.

The new VeChain (VET) whitepaper has been well-received by investors, as evidenced by a 5% increase in the value of VeChain (VET) over the last week. Analysts have predicted that, with the continued adoption of VeChain (VET), its price could reach up to $0.060 this year.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

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Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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Will VeChain (VET) Price Rebound After Revamped Whitepaper ... - Crypto News Flash

The world of cryptocurrencies is continuously expanding, and as investors seek out the best altcoins to boost their portfolios, analysts predict that DigiToads (TOADS), Binance Coin (BNB), and Bitcoin Cash (BCH) may emerge as the top investments in 2023. These cryptocurrencies have unique features that cater to different market needs, making them attractive investment opportunities and creating a diversified portfolio when held together.

DigiToads is a revolutionary memecoin that distinguishes itself from the pack with its deflationary nature, P2E (Play-to-Earn) gaming, NFTs, NFT staking, Platinum Toads, and a charity/environmental aspect.

As a deflationary token, the supply of TOADS will decrease over time, potentially increasing the value of each token. In the presale phase, DigiToads has already raised over an impressive $1.8m, with many major coins accepted as payment, making it accessible to a wide range of investors.

The doxxed team behind the project lends credibility and transparency to DigiToads, which is crucial for investment success. The projects innovative approach and the potential for a substantial price increase position it as a standout investment in 2023.

DigiToads also blends the best of GameFi with NFTs. Its play-to-earn game, where players battle their toads against one another, allows holders to earn real money while staking one of the 3,500-strong NFT collections will entitle the user to regular payments made in TOADS.

>> Buy DigiToads Now <<

Binance Coin (BNB) is the native token of the Binance ecosystem, one of the worlds largest cryptocurrency exchanges. BNB has experienced significant growth since its inception, placing it among the best altcoins.

BNBs utility extends beyond the Binance exchange; it also plays a vital role within the Binance Smart Chain ecosystem, a decentralized platform for building and deploying smart contracts and decentralized applications (dApps).

As the Binance ecosystem continues to expand and attract more users, the demand for BNB will likely increase, making it one of the best investments of 2023. Binances ongoing commitment to innovation, including its recently launched NFT marketplace and decentralized finance (DeFi) initiatives, adds to BNBs potential for considerable growth.

Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that originated from a hard fork of Bitcoin in 2017. BCH was created to address some of the scalability issues faced by Bitcoin, providing faster and cheaper transactions for users.

While Bitcoin remains the dominant cryptocurrency, BCHs focus on everyday transactions and usability has helped it gain traction and maintain a strong position in the market. With the ongoing growth of the crypto space and increased adoption of digital currencies for everyday transactions, BCH could see further growth and become one of the best altcoins of 2023.

The ongoing development of BCH infrastructure, such as the Simple Ledger Protocol (SLP) for token issuance and the increasing number of merchants accepting BCH for payments, further supports its growth potential.

In conclusion, analysts believe that DigiToads, Binance Coin, and Bitcoin Cash could be the top-performing cryptocurrencies in 2023. By investing in a combination of these cryptocurrencies, investors are well-positioned to capitalize on the potential growth and returns these projects could offer in the coming years.

Regarding overall upside potential DigiToads exists in a league of its own, and given it is a newer project and more technologically advanced than Binance Coin (BNB) and Bitcoin Cash (BCH) integrating revolutionary mechanisms like NFT staking, the upside potential remains quasi-limitless- easily one of the best DeFi crypto projects and potentially the best ICO to occur this year.

For more information on DigiToads visit the website, join the presale or join the community for regular updates.

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Analysts Think that DigiToads (TOADS) Binance Coin (BNB) and Bitcoin Cash (BCH) Could be the Best Investments of 2023 - Coinpedia Fintech News