Binance, the world's largest platform for trading digital coins, has become a vital engine of the Trump family's crypto business, according to a report by the New York Times. Simultaneously, a South Korean cryptocurrency exchange, Bithumb, accidentally gave away over $40 billion worth of bitcoin to customers, as reported by BBC World. These events highlight the dynamic and sometimes volatile nature of the cryptocurrency market.
World Liberty Financial, the Trump family's crypto start-up, reached a major landmark last month, as reported by the New York Times. The total circulation of the company's signature digital coin hit 5 billion, solidifying its position as a top cryptocurrency. Much of this success was attributed to an alliance with Binance, founded by Changpeng Zhao, who was pardoned by President Trump last year. Eric Trump celebrated the milestone with a series of fire emojis on social media, according to the New York Times.
In South Korea, Bithumb had planned to give customers a small cash reward of 2,000 won (approximately $1.37), but instead gave them 2,000 bitcoins on Friday, according to BBC World. The company quickly realized its mistake and recovered almost all the missing tokens, restricting trading and withdrawals for the 695 affected customers within 35 minutes of the glitch. Bithumb stated it had recovered 99.7% of the 620,000 bitcoins mistakenly sent, and clarified that the matter was unrelated to external hacking.
In other news, four people were arrested in Pakistan on suspicion of facilitating a suicide bombing that killed more than 30 people on Friday, BBC World reported. An Afghan national, alleged to be the mastermind behind the attack, was among those detained. The Islamic State group claimed responsibility for the bombing, which targeted Friday prayers at a Shia mosque.
Meanwhile, in France, financial crime prosecutors opened a preliminary inquiry into former Culture Minister Jack Lang over his links to Jeffrey Epstein, as reported by BBC World. The investigation is for suspected "laundering of tax fraud proceeds." Lang, now 86, denied wrongdoing and described the allegations as "baseless," according to BBC World.
Finally, Google executives are facing pressure from staff over the company's ties to the federal government's crackdown on immigration enforcement, BBC Technology reported. Nearly 900 Google employees demanded more transparency over the company's technology usage within the US government. A Google employee of seven years found it "mind-boggling" that Google was maintaining its ties with immigration enforcement, according to BBC Technology.
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