In today’s cryptocurrency news, legal expert James Murphy has initiated an FOIA lawsuit to uncover details regarding an alleged meeting between Satoshi Nakamoto and the US Department of Homeland Security. Pakistan has enlisted former Binance CEO Changpeng “CZ” Zhao as a consultant for its national cryptocurrency council, and an Ethereum whale has opted to deposit $14 million in ETH to avert the liquidation of a $340 million short position.
Attorney sues US Homeland Department to investigate alleged Satoshi Nakamoto gathering
A cryptocurrency attorney has taken legal action against the US Department of Homeland Security, asserting that the agency might have knowledge of Bitcoin’s creator — compelling the department to reveal its information.
The Freedom of Information Act lawsuit was lodged by James Murphy, who grounded his allegations on statements made by DHS Special Agent Rana Saoud at a seminar in April 2019, where she mentioned that some of her colleagues had previously interacted with four individuals involved in the creation of Bitcoin.
“My FOIA lawsuit merely requests the notes, emails, and other documents related to that purported interview,” Murphy tweeted after announcing the suit on April 7.
“IF the meeting actually took place as the DHS Agent asserted, there ought to be records of the content of that discussion,” added Murphy, known on Twitter as MetaLawMan.
Should the DHS resist revealing the information, Murphy stated he will “see the case through to the end” to clarify the enigma.
Pakistan designates Changpeng Zhao as cryptocurrency advisor as adoption accelerates
Former Binance CEO Changpeng “CZ” Zhao has been designated as an advisor to Pakistan’s Crypto Council, a newly established regulatory entity assigned with overseeing the nation’s adoption of blockchain technology and digital currencies.
The appointment was confirmed by Pakistan’s finance ministry and reported by Bloomberg on April 7. Zhao will provide guidance to the regulatory board on cryptocurrency regulation, infrastructure, and adoption, as stated by Bloomberg.
In March, Bilal bin Saqib, the head of Pakistan’s Crypto Council, informed Bloomberg that the country aims to forge a clear regulatory framework for digital assets.
“Pakistan is finished observing from the sidelines,” Saqib remarked. “We aim to attract international investments since Pakistan is a low-cost, high-growth market with […] a Web3-native workforce eager to innovate.”
Whale makes $14 million Ether emergency deposit to eliminate $340 million liquidation risk
An anonymous cryptocurrency whale injected millions in urgent funds to stave off a potential liquidation exceeding $300 million in Ether amidst falling market conditions due to renewed macroeconomic challenges.
The whale is reportedly on the brink of liquidation on a position of 220,000 Ether (ETH) on MakerDAO, a decentralized finance (DeFi) lending platform. To avoid liquidation, the investor deposited 10,000 ETH — valued at over $14.5 million — along with 3.54 million Dai (DAI) to elevate the position’s liquidation threshold, according to blockchain analytic company Lookonchain in a post on April 7 via X.
“If $ETH declines to $1,119.3, the 220,000 $ETH ($340M) will be liquidated.”
This occurrence followed shortly after another Ether investor faced liquidation exceeding $106 million on the decentralized finance (DeFi) lending platform Sky.
The whale incurred losses of over 67,000 ETH when the asset plunged approximately 14% on April 6. Sky’s framework utilizes an over-collateralization ratio, generally set at 150% or above, indicating that users must deposit at least $150 worth of ETH to borrow 100 DAI.
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