TL;DR

• Binance expressed deep disappointment after Nigeria denied Tigran Gambaryan’s bail request due to illness.

• A wallet connected to Longling Capital just bought an additional 5,000 ETH, 20 minutes ago.

• Vitalik acquired 908.77 ETH in the last 12 hours by selling off meme coins.

• South Africa's tax authority has now included cryptocurrencies in its official compliance program.

• AC stated that using L2 as an application chain is impractical for developers and greatly underestimates the costs of infrastructure and compliance.

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Alpha of the Day

Binance’s Bail Blues in Nigeria

In a twist of legal drama that feels like it’s straight out of a Netflix series, Binance has expressed “deep disappointment” after Nigeria gave a firm "no" to Tigran Gambaryan’s bail request. Why, you ask? Well, apparently it was illness-related, but Nigeria wasn’t buying it. Binance, like a disappointed parent at a PTA meeting, wasn’t pleased with the outcome. The saga of Tigran continues, and it looks like Binance might need a new strategy, or maybe just some extra tissues.

Longling Capital Goes Shopping – Again!

Some wallets like to window shop, but not the one connected to Longling Capital. This whale just casually scooped up another 5,000 ETH like it was grabbing snacks during a Netflix binge. Twenty minutes ago, the wallet made its move, reminding everyone that while you’re debating whether to buy lunch, these crypto powerhouses are out here making million-dollar purchases in the blink of an eye. Flex much?

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Vitalik’s Meme Coin Sell-Off

Vitalik Buterin decided to make a little pocket change in the last 12 hours, and by “pocket change,” I mean 908.77 ETH. How did he do it? By selling meme coins, of course! While most of us are just holding onto our meme tokens for dear life, hoping for that elusive moonshot, Vitalik is out here making moves like it’s Monopoly money. Guess the joke’s on us.

South Africa Adds Crypto to the Tax Compliance Party

South Africa’s tax authority is not playing around anymore. They’ve officially added cryptocurrencies to their compliance program, which means no more dodging Uncle Taxman for South African crypto traders. The days of pretending that crypto gains are invisible are over. It’s like the South African government just handed out “We’re watching you” badges to everyone in the crypto space. Time to report those gains before they report you!

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AC’s Take: L2 as an Application Chain Is a No-Go

AC has spoken, and they’re not mincing words. According to them, using L2 as an application chain is like trying to make fetch happen—it's just not going to work. Developers, take note: AC thinks you’re underestimating the costs of infrastructure and compliance. In other words, L2 is looking less like a magic solution and more like a money pit. Ouch.

Fraud Scandal Hits Shenzhen Alum Zhang Yufeng

Move over Netflix documentaries, there’s a new fraud story in town. Wu has reported that Shenzhen University alum Zhang Yufeng is under suspicion for faking a massive 50 million donation. Apparently, the fraud ran deep, and now, victims are ringing up the police hotline like it’s Black Friday. If true, Zhang might just become the next big name in financial scandals. Better start writing that script, Hollywood.

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