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&nbsp;according to data from alternative.me, the cryptocurrency fear and greed index is currently 8, indicating extreme fear. Crypto KOL Chen Jian Jaso stated that yesterday the fear and greed index was 5, setting a historic low record. Previously, it dropped to 8 during the COVID-19 pandemic, 6 during the Terra crash, and 6 during the FTX collapse.

[Yesterday's Fear & Greed Index was 5, a record low.]&nbsp;according to data from alternative.me, the cryptocurrency fear and greed index is currently 8, indicating extreme fear. Crypto KOL Chen Jian Jaso stated that yesterday the fear and greed index was 5, setting a historic low record. Previously, it dropped to 8 during the COVID-19 pandemic, 6 during the Terra crash, and 6 during the FTX collapse.

Yesterday's Fear & Greed Index was 5, a record low.

the Web3 Foundation announced it will gradually end the official customer support service for Polkadot. The official statement said that as the Polkadot ecosystem continues to mature, its strategic focus will shift from expanding centralized support functions to prioritizing the development of more intuitive and autonomous products and user interfaces, reducing users' reliance on customer support from a system design perspective.

[The Web3 Foundation announced it will gradually shut down official Polkadot support services.]the Web3 Foundation announced it will gradually end the official customer support service for Polkadot. The official statement said that as the Polkadot ecosystem continues to mature, its strategic focus will shift from expanding centralized support functions to prioritizing the development of more intuitive and autonomous products and user interfaces, reducing users' reliance on customer support from a system design perspective.

The Web3 Foundation announced it will gradually shut down official Polkadot support services.

Bitcoin Fear and Greed Index is 8. Extreme Fear.
Current Price: $63111.15.

[Bitcoin Fear and Greed Index is 8]Bitcoin Fear and Greed Index is 8. Extreme Fear.
Current Price: $63111.15.

Bitcoin Fear and Greed Index is 8

esp Surges 19.90% in 24H, Currently at 0.0982 USDT

【esp currently trades at 0.0982 USDT, up 19.90% in 24h, according to HTX market data.】esp Surges 19.90% in 24H, Currently at 0.0982 USDT

esp currently trades at 0.0982 USDT, up 19.90% in 24h, according to HTX market data.

skr Surges 43.10% in 24H, Currently at 0.025223 USDT

【skr currently trades at 0.025223 USDT, up 43.10% in 24h, according to HTX market data.】skr Surges 43.10% in 24H, Currently at 0.025223 USDT

skr currently trades at 0.025223 USDT, up 43.10% in 24h, according to HTX market data.

skr Surges 10.26% in 24H, Currently at 0.019489 USDT

【skr currently trades at 0.019489 USDT, up 10.26% in 24h, according to HTX market data.】skr Surges 10.26% in 24H, Currently at 0.019489 USDT

skr currently trades at 0.019489 USDT, up 10.26% in 24h, according to HTX market data.

HTX data showed that BTC fell below 63000  USDT and is now at 62998.64 USDT, with a decrease of 3.03% in 24H.

[BTC fell below 63000  USDT] HTX data showed that BTC fell below 63000  USDT and is now at 62998.64 USDT, with a decrease of 3.03% in 24H.

BTC fell below 63000  USDT

zama Surges 10.17% in 24H, Currently at 0.022921 USDT

【zama currently trades at 0.022921 USDT, up 10.17% in 24h, according to HTX market data.】zama Surges 10.17% in 24H, Currently at 0.022921 USDT

zama currently trades at 0.022921 USDT, up 10.17% in 24h, according to HTX market data.

according to Caixin, on February 16 and 17, the UK High Court held a two-day asset disposal hearing for a money laundering case involving 60,000 bitcoins. According to the information disclosed at the hearing, more than 11,300 Chinese victims intend to submit claims to the UK High Court. However, this accounts for only 8.8% of the 128,409 victims. More than ten thousand people are making cross-border claims, and the registration deadline for the recovery of 60,000 bitcoins in the UK is May 22.

[Caixin: Over 10,000 people have filed cross-border lawsuits in the Qian Zhimin case; registration for the UK's pursuit of 60,000 bitcoins closes on May 22.]according to Caixin, on February 16 and 17, the UK High Court held a two-day asset disposal hearing for a money laundering case involving 60,000 bitcoins. According to the information disclosed at the hearing, more than 11,300 Chinese victims intend to submit claims to the UK High Court. However, this accounts for only 8.8% of the 128,409 victims. More than ten thousand people are making cross-border claims, and the registration deadline for the recovery of 60,000 bitcoins in the UK is May 22.

Caixin: Over 10,000 people have filed cross-border lawsuits in the Qian Zhimin case; registration for the UK's pursuit of 60,000 bitcoins closes on May 22.

The Monetary Authority of Singapore (MAS) released “Statement to Address Misconceptions in the Wake of Collapse of FTX.” MAS said that it cannot protect local users who dealt with FTX as FTX is not licensed by MAS and operates offshore. MAS has consistently warned about the dangers of dealing with unregulated entities. MAS also explained why MAS treated Binance differently from FTX, specifically why it was placed on the Investor Alert List (IAL) while FTX was not. While both Binance and FTX are not licensed here, there is a clear difference between the two: Binance was actively soliciting users in Singapore while FTX was not. Binance in fact went to the extent of offering listings in Singapore dollars and accepted Singapore-specific payment modes such as PayNow and PayLah. MAS received several complaints about Binance between January and August 2021. There were also announcements in multiple jurisdictions of unlicensed solicitation of customers by Binance during the same period. With regard to FTX, there was no evidence that it was soliciting Singapore users specifically. Trades on FTX also could not be transacted in Singapore dollars. Further, on MAS’ referral, the Commercial Affairs Department commenced investigation into Binance for possible contravention of the Payment Services Act (PS Act). MAS required Binance to stop soliciting Singapore users. To assure MAS that it was no longer doing so, Binance put in place various measures including geo-blocking of Singapore IP addresses and the removal of its mobile application from Singapore app stores. These measures were intended to demonstrate beyond doubt that Binance had ceased soliciting and providing services to Singapore users. MAS said that there are hundreds of offshore crypto exchange, and thousands of other entities offshore that accept investments in non-crypto assets. It is not possible to list all of them and no regulator in the world has done so. The most important lesson from the FTX debacle is that dealing in any cryptocurrency, on any platform, is hazardous. Crypto exchanges can and do fail. Even if a crypto exchange is licensed in Singapore, it would be currently only regulated to address money-laundering risks, not to protect investors. Further, even if a crypto exchange is well-managed, cryptocurrencies themselves are highly volatile and many of them have lost all value.

Detail

【MAS: It cannot protect FTX local users, FTX debacle shows any crypto trading platform is at risk】The Monetary Authority of Singapore (MAS) released “Statement to Address Misconceptions in the Wake of Collapse of FTX.” MAS said that it cannot protect local users who dealt with FTX as FTX is not licensed by MAS and operates offshore. MAS has consistently warned about the dangers of dealing with unregulated entities. MAS also explained why MAS treated Binance differently from FTX, specifically why it was placed on the Investor Alert List (IAL) while FTX was not. While both Binance and FTX are not licensed here, there is a clear difference between the two: Binance was actively soliciting users in Singapore while FTX was not. Binance in fact went to the extent of offering listings in Singapore dollars and accepted Singapore-specific payment modes such as PayNow and PayLah. MAS received several complaints about Binance between January and August 2021. There were also announcements in multiple jurisdictions of unlicensed solicitation of customers by Binance during the same period. With regard to FTX, there was no evidence that it was soliciting Singapore users specifically. Trades on FTX also could not be transacted in Singapore dollars. Further, on MAS’ referral, the Commercial Affairs Department commenced investigation into Binance for possible contravention of the Payment Services Act (PS Act). MAS required Binance to stop soliciting Singapore users. To assure MAS that it was no longer doing so, Binance put in place various measures including geo-blocking of Singapore IP addresses and the removal of its mobile application from Singapore app stores. These measures were intended to demonstrate beyond doubt that Binance had ceased soliciting and providing services to Singapore users. MAS said that there are hundreds of offshore crypto exchange, and thousands of other entities offshore that accept investments in non-crypto assets. It is not possible to list all of them and no regulator in the world has done so. The most important lesson from the FTX debacle is that dealing in any cryptocurrency, on any platform, is hazardous. Crypto exchanges can and do fail. Even if a crypto exchange is licensed in Singapore, it would be currently only regulated to address money-laundering risks, not to protect investors. Further, even if a crypto exchange is well-managed, cryptocurrencies themselves are highly volatile and many of them have lost all value.

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Article

BTC breaks through $66,000

MAS: It cannot protect FTX local users, FTX debacle shows any crypto trading platform is at risk

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