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Binance Lawyers Push Back Against US SEC Claims That Binance.US Customer Assets Are at Risk
13.6.2023
Attorneys for Binance.US and Binance CEO Changpeng Zhao argued that the US Securities and Exchange Commission’s temporary restraining order to freeze its assets should be denied.
There is no risk to customer assets, the lawyers said on Monday in a court filing ahead of a Tuesday hearing...
BitGo's Suit Against Galaxy Digital Over Canceled $1.2B Purchase Dismissed by Delaware Judge
12.6.2023
Crypto custodian BitGo had agreed to a sale to Galaxy Digital in May 2021, but Galaxy pulled out of the deal last August amid the industry’s sustained bear market
US court dismisses BitGo’s claims in $100M lawsuit against Galaxy Digital
12.6.2023
Vice Chancellor J. Travis Laster of the Delaware Court of Chancery said Galaxy had a “clean termination right” to the acquisition of BitGo, which it announced in 2022
Bitcoin to fight against European challenges — Northern Lightning founder
12.6.2023
The Bitcoin community continues to develop tools and services that could prove useful as Europe grapples with conflict, migration and government overreach
Former SEC Official Predicts Impending DOJ Indictment Against Binance
12.6.2023
Former Securities and Exchange Commission (SEC) official John Reed Stark said on Sunday via Twitter that he believes the U.S. Department of Justice (DOJ) has filed or will file a criminal indictment related to Binance. Stark, who draws from his experience in the SEC Enforcement Division, pointed...
Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals
12.6.2023
People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote....
Notions of DAO Immunity Sink as CFTC Lawsuit Declares Ooki DAO a ‘Person’ Under the Law
11.6.2023
On June 9, 2023, the Commodity Futures Trading Commission (CFTC) declared victory in a lawsuit against Ooki DAO, a decentralized autonomous organization. According to the CFTC, the judge’s ruling that the Ooki DAO is a “person” under the Commodity Exchange Act sets a new legal...
Smart Contract Tokens and Defi Sector Suffer Steep Losses, Threatening TVL to Fall Below $40 Billion
10.6.2023
The overall value of the crypto economy has dropped by more than 5% against the US dollar in the past 24 hours, with the top smart contract token sector losing more than 8% in the same time frame. The downturn has also affected the decentralized finance (defi) sector, with the total value locked...
Founder of SEC Office of Internet Enforcement Warns of Upcoming Regulatory Siege: ‘Get Out of Crypto Platforms Now’
10.6.2023
John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous,...
Custodia's Suit Against Fed Over Denial of Master Account Can Proceed, Court Rules
10.6.2023
Custodia's challenge of the Federal Reserve Bank of Kansas City's decision to deny the crypto-friendly bank access to the Fed banking services can continue, a U.S. district court ruled Thursday, rejecting a Fed motion to dismiss the case. The U.S. District Court of Wyoming, however, did reject...
Binance US Halts USD Deposits, Withdrawals — Asks Users to Withdraw Dollars by June 13
10.6.2023
Binance US has informed its users that U.S. dollar deposits have been suspended and USD withdrawals will no longer be processed. The crypto exchange has asked customers to withdraw dollars by June 13 as it transitions into a crypto-only trading platform. The move followed a lawsuit against...
SEC charges against Binance and Coinbase are terrible for DeFi
10.6.2023
The SEC’s charges against Binance and Coinbase could have far-reaching consequences for decentralized finance
US CFTC Wins Precedent Setting Case Against Ooki DAO, Calling It a ‘Wake-Up Call’
9.6.2023
A US district judge ruled in favor of the US Commodity Futures Trading Commission in its litigation against Ooki DAO — which could have further implications for other decentralized autonomous organizations.
Judge William H. Orrick entered a default judgment order on Thursday night, which requires...
CFTC Wins Lawsuit Against Ooki DAO
9.6.2023
Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure
9.6.2023
Fintech and crypto firm Robinhood has announced the delisting of cardano (ADA), solana (SOL), and polygon (MATIC) on June 27, 2023. This development comes after the publicly-listed company revealed that it was “actively reviewing” its coin listings in the wake of recent U.S....
US Senator Bill Hagerty Warns SEC Actions ‘Pave the Way’ for a CBDC
9.6.2023
Tennesse U.S. senator Bill Hagerty has warned about the consequences of the recent actions of the Securities and Exchange Commission (SEC) against cryptocurrency platforms in the country and the objectives that might be behind these. Hagerty stated that the true motivation behind the lawsuits...
Ripple CEO Brad Garlinghouse: ‘The SEC Is Throwing Lawsuits at the Wall’
9.6.2023
Brad Garlinghouse, the CEO of Ripple, has criticized the crypto “pro-innovation” stance of the U.S. Securities and Exchange Commission (SEC) and its recent lawsuits against significant exchanges like Coinbase and Binance. Garlinghouse stated that the SEC was “throwing lawsuits...
Lawmaker Calls SEC Enforcement Actions Against Crypto Exchanges ‘Complete Contempt for Congress’
9.6.2023
Several lawmakers have slammed the U.S. Securities and Exchange Commission (SEC) for regulating the crypto industry by enforcement. One lawmaker says the regulator’s latest action against crypto exchange Coinbase “demonstrates a complete contempt for Congress which is in the process of developing...
SEC Chair Argues That It Is Possible for Crypto Platforms To Register Following Lawsuits Against Coinbase and Binance
8.6.2023
Securities and Exchange Commission Chair Gary Gensler laid into the crypto industry on Thursday, arguing that it is possible for exchanges to register with the agency, despite platforms’ assertions that they tried to do just that. ...
Read More: SEC Chair Argues That It Is Possible for Crypto...
Ethereum Staked on Coinbase Sees Massive Redemptions, Over 27,000 Tokens Redeemed on June 6
8.6.2023
Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering...