• Joselit Ramirez, Venezuela’s top authority on crypto policies, has been removed from his position and arrested for suspicion of participating in a scheme to steal from the country’s oil operations.
• His removal has led to an overhaul of the national crypto department and the Venezuelan government has called for a comprehensive restructuring of the Superintendency of Crypto Assets and Related Activities (SUNACRIP).
• A new board headed by Anabel Pereira Fernández will lead the organization going forward, with supervision from the Ministry of Economy, Finance, and Commerce.

Suspicion of Corruption

Venezuela’s top authority on crypto policies, Joselit Ramirez, has been removed from his position and arrested for suspicion of participating in a scheme to steal from Venezuela’s oil operations. Local media publication Últimas Noticias broke the story about Ramirez’s arrest by the National Anticorruption Police after a request was issued for judicial proceedings against „a series of citizens who could be involved in serious acts of administrative corruption and embezzlement of funds.“ The report states that Venezuelan authorities are investigating a case of corruption in which $3 billion from Venezuelan oil sales were diverted so as not to appear in the government’s official accounts.

Government Action

Venezuelan president Nicolas Madura removed Ramirez from his position for allegedly participating in a plan to steal from the country’s oil operations. President Madura declared: That it is the duty of the State to take all measures at its disposal to protect the Venezuelan people from the negative effects of the multiform aggression that is taking place against the country and, especially, against its economy. The restructuring will be coordinated by a mixed commission comprising a president and four directors endorsed by Madura. The Ministry of Economy, Finance, and Commerce will supervise the operation. A new board headed by Anabel Pereira Fernández will lead the organization going forward. Amongst this board’s new directors are Héctor Andrés Obregón Pérez, Luis Alberto Pérez González and Julio César Mora Sánchez.

Decree Restructuring

The Venezuelan government has called for a comprehensive restructuring of SUNACRIP (the Superintendency Of Crypto Assets And Related Activities) after Joselit Ramirez was arrested on March 17th on charges related to corruption within Venezuela’s Oil sector. This decree states that SUNACRIP will be restructured according to plans established by president Nicolas Maduro himself along with other members chosen specifically by him – these plans aim at protecting Venezuelans from any adverse effects caused due economic sanctions etc…

Official Statement

President Madura has not yet issued an official statement on this matter nor has he provided any reasons or evidence as to why Joselit Ramirez was removed besides suspicions relating to acts as such – however it can be assumed that he may have been involved in acts concerning corruption given local media reports stating such information surrounding his arrest etc…

Disclaimer

This article is provided solely for informational purposes only – it should not be taken as legal advice nor as factual evidence/proof etc…

Overview of FBI Probe

• The Federal Bureau of Investigation (FBI) has commenced an investigative probe into Terraform Labs and its disgraced founder and CEO, Do Kwon.
• Do Kwon is the target of multiple international investigations and is on the Interpol Red Notice for his unknown location.
• The FBI’s investigations are raising questions about Do Kwon’s involvement with the South Korean payment platform Chai.

Background

The Singapore police, South Korean law enforcement, and the Securities Exchange Commission (SEC) have all launched enforcement actions against the now-defunct company Terraform Labs and its founder Do Kwon. The company was behind the Terra-Luna stablecoin that crashed in May 2022, wiping out billions of dollars‘ worth of value from the crypto market. In October 2022, Do Kwon claimed he was not hiding out nor had disclosed his location to protect himself and denied all allegations of fraud at his company. He also stated that he personally lost funds due to the crash.

Chai Factor

In February 2023, the SEC filed a lawsuit against Terraform Labs and Do Kwon alleging that he misled investors regarding certain transactions on the Terra blockchain involving South Korean payment platform Chai. They accused him of claiming that Chai transactions were processed on their blockchain when in fact they used more traditional channels. This allegedly gave a false sense of legitimacy to their business.

Investigations

> The FBI and prosecutors from the Southern District of New York (SDNY) are questioning former employees of Terraform Labs in regards to this case. The Department of Justice has yet to address if any charges will be filed against Do Kwon or his firm.

Interpol Red Notice

> As mentioned before, Do Kwon is on Interpol’s Red Notice as his exact whereabouts are unknown which makes it difficult for any law enforcement agency to apprehend him. Reports have suggested that he may be hiding out in Serbia although this has not been confirmed by any official source or government body yet.

Conclusion Despite denying all allegations against him, many countries across the world have opened up investigation proceedings into both Terraform Labs and their founder Do Kwon for various charges ranging from fraud to money laundering etcetera . It remains to be seen what kindof action will be taken against them by authorities such asthe FBI or other law enforcement agencies involved in this case .

• DeFiChain is sponsoring the National Fighting Championship (NFC) this year.
• The NFC is the German version of the widely known UFC, hosting six live events in 2023.
• DeFiChain will sponsor five out of the six events and also provide a “Fighter Of The Night Bonus” for the best fight of the evening as well as a “Fan of the Night Bonus” for one lucky fan.

DeFiChain Sponsoring National Fighting Championship

ChainwireDeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, is delighted to announce that its community has voted to sponsor the National Fighting Championship (NFC) this year.

About NFC

The NFC is the German version of the widely known UFC, in charge of the mixed martial arts (MMA) fighting league in Germany. NFC is the biggest German MMA league, with its latest event (NFC 10) reaching more than 10 million viewers worldwide. It is hosting six live events in 2023, and each event attracts 2,500-6,000 fans onsite. The fights are also broadcast on German television on Sport1 as well as on social media.

DeFiChain Sponsorship

DeFiChain will sponsor five out of these six events this year: 25 March, 2023: NFC 13 Westfalenhallen Dortmund; 27 May, 2023: NFC 14 Maritim Hotel Düsseldorf; 16 September, 2023: NFC 15 Telekom Dome Bonn; 11 November, 2023: NFC 16 Showpalast Munich; 16 December, 2023: NFC 17 Maritim Hotel Düsseldorf.

„Fighter Of The Night Bonus“ & „Fan Of The Night Bonus“

Conclusion

This partnership between DeFiChain and Fighting GmbH allows crypto users and developers within Germany who have an interest in gaming, basketball fighting sports and drone racing have additional incentives when partaking in such activities.

• Bitcoin (BTC/USD) continued to orbit a key technical level around the 23790.51 area, representing the 38.2% retracement of an appreciating range from 21366.45 to 25288.88.
• Traders recently pushed BTC/USD as low as the 22520 area during an ongoing pullback, representing a test of a downside price objective around the 22587 area associated with selling pressure at 24132.67.
• Stops are cited below the 21047, 20874, 20724 and 20370 levels while upside price objectives include 25455, 25774, 26612, 26931 and 27609 levels.

Bitcoin (BTC/USD) Technical Analysis

Current Price Activity

Bitcoin (BTC/USD) is currently orbiting a key technical level around the 23790.51 area which represents the 38.2% retracement of its appreciating range from 21366.45 to 25288.88. Buying pressure has emerged around the 23204.16 area and traders have pushed BTC/USD as low as 22520 during ongoing pullback – this represents a test of downside price objective around 22587 related to selling pressure at 24132.67. Additionally, buying activity previously strengthened around 16326 and 20333 areas leading to additional upside price objectives such as 25455, 25774, 26612 and 26931 levels respectively while stops were noted below 21047, 20874 ,20724 and 20370 levels accordingly..

Moving Average Convergence Divergence (MACD)

The 50-bar MA (4-hourly) is bullishly indicating above both 100-bar MA (4-hourly) and 200-bar MA (4-hourly). Similarly 50-bar MA(Hourly) is bearishly indicating below 200 bar MA(Hourly while still above 100 bar MA(Hourly). On 4-Hourly chart SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage on 60 minute chart SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage respectively .

Technical Support & Resistance Levels

Technically significant areas for support include 15900, 15512 ,15313 ,14500 ,14364 ,13369 ,10727 ,10432 ,9682 ,8837 and 7538 levels respectively .On other hand technically significant resistance areas include25455 .06 /25774 .41 /26612 .64 with stops expected above them accordingly .

Price Objectives

Downside price objectives include 22366 22074 21949 21919 21756 21386 21161 20982 20471 20209 19886 19251 levels respectively ;while prior to recent pull back move towards fresh multi month highs around 25288 also represented test of extra upside target at25455 level related to historical buying pressures mentioned earlier in article . Further additional upside targets include25774 26612 26931 27609 28004 29244 29639levels respectively

Conclusion

To conclude BTC/USD continues orbital movement along key technical level near23790 price region with both bullish & bearish indications on various time frames accompanied by multiple target prices both upwards & downwards making it interesting market for traders to watch out for in near future