US Judge Refuses to Rule in SEC-Binance Dispute
A US Judge has declined to make a ruling in the ongoing dispute between the Securities and Exchange Commission (SEC) and Binance. Instead, the judge has urged both parties to collaborate on discovery requests, emphasizing the importance of working together to resolve the matter.
Bitcoin Advocate Claims NSA’s Involvement in Creating Bitcoin
Bitcoin advocate Nic Carter has reiterated the theory that the National Security Agency (NSA) played a significant role in the creation of Bitcoin. This long-standing theory has resurfaced on social media, attracting renewed attention from the crypto community.
Layer-2 Network Optimism Sells $162 Million Worth of OP Tokens
Optimism, a layer-2 network, has announced the sale of approximately 116 million OP tokens in a private sale. The total value of these tokens is around $162 million. The organization plans to initiate several transactions to distribute the tokens starting Wednesday.
Coinbase Flags Risk of 51% Attack on Zcash
Coinbase’s security team has raised concerns about a potential 51% attack on Zcash. They discovered that one mining pool, ViaBTC, controls almost 54% of the network’s hash rate. This revelation has caused alarm within the crypto community.
Decline in Stablecoin Dominance but Increased Trading Volume
The dominance of stablecoins in the market has declined to 11.6% over the past 18 months. While their market capitalization has decreased, their trading volume has significantly increased, indicating continued interest and usage.
Circle Launches Polkadot USDC Stablecoin
USDC issuer Circle has officially introduced Polkadot USDC, the latest version of its dollar-pegged stablecoin. This release brings the stablecoin to the Polkadot network.
Coinbase Explored Acquisition of FTX’s European Entity
Coinbase has revealed that it explored acquiring FTX’s European entity as part of its plan to expand into the derivatives business. This move demonstrates Coinbase’s interest in entering the derivatives space.
Bitmain Invests $54 Million in Core Scientific
Bitmain, a Bitcoin mining rig manufacturer, has made a substantial investment of $54 million in Core Scientific, a Texas-based Bitcoin mining firm. This investment comes after Core Scientific filed for Chapter 11 bankruptcy in December 2022.
Tether Resumes USDT Loans and Makes Significant Investment
Tether has announced the resumption of USDT loans to clients after temporarily halting them. Additionally, Tether has invested $420 million to purchase GPUs for a German crypto mining company through an Irish shell firm.
FTX Initiates Legal Action Against Co-Founder’s Parents
Bankrupt crypto exchange FTX has taken legal action against the parents of co-founder Sam Bankman-Fried. The exchange alleges that they misused company funds for personal gain, emphasizing their concern about the treatment of FTX as a family business.
Bastion Raises $25 Million in Seed Funding
Two former executives from Andreessen Horowitz’s (a16z) crypto division have secured $25 million in seed funding for their new Web3 startup, Bastion.
Islamic Coin Launches Reg D Token Offering
Islamic Coin has partnered with OpenDeal Broker LLC to launch its Reg D token offering to the general public.
Presidential Candidate Vows to Remove SEC Chair
US presidential candidate Vivek Ramaswamy has pledged to remove Gary Gensler and the United States Securities and Exchange Commission if elected. Ramaswamy intends to implement his own crypto framework if he assumes office.
Coinbase Launches ‘Stand with Crypto’ Advocacy Campaign
Coinbase has launched an advocacy campaign called ‘Stand with Crypto’ to push for favorable cryptocurrency regulations in the US.
eToro Receives CASP Registration Approval
eToro has obtained Crypto Asset Service Provider (CASP) registration from the Cyprus Securities and Exchange Commission (CySEC). This registration ensures eToro’s readiness for MiCA compliance next year.
Binance and Ceffu Deny SEC’s Allegations
Binance and Ceffu, a wallet provider, have denied the Securities and Exchange Commission’s accusation that they are connected. Both parties refute the allegations made against them.
UK House of Lords Allows Seizure of Stolen Cryptocurrencies
The UK House of Lords has passed a resolution granting authorities the power to seize stolen cryptocurrencies. The bill now awaits approval from the House of Commons.
Solana Co-Founder Calls for Clear Crypto Regulations
Anatoly Yakovenko, co-founder of Solana, has urged Congress to establish clear regulations around cryptocurrencies. Yakovenko believes that regulatory uncertainty hinders innovation and drives talent away from the US.
Judge Urges Collaboration in SEC-Binance Dispute
A US Judge has declined to make a ruling in the ongoing dispute between the SEC and Binance. Instead, the judge has requested both parties to work together on various discovery requests to resolve the matter.
Elizabeth Warren’s Crypto Bill Gains Support
Senator Elizabeth Warren’s cryptocurrency bill has received support from nine US senators, including influential figures such as the chair of the Homeland Security and Government Affairs Committee and the chair of the Senate Judiciary Committee.
Hong Kong SEC Investigates JPEX Crypto Exchange
The Hong Kong Securities and Exchange Commission has launched an investigation into crypto exchange JPEX. Authorities have accused the exchange of operating without a license and have received several complaints against it.
CoinEX Resumes Operations After Hack
Cryptocurrency exchange CoinEX is recovering from a $70 million hack and has announced the resumption of deposits and withdrawals. The exchange has also implemented a new wallet system for improved security.
Hackers Utilize Cross-Chain Bridges for Money Laundering
Blockchain forensic firm Elliptic has revealed that hackers and cybercriminals are increasingly using cross-chain bridges to launder stolen funds, moving away from traditional crypto mixers due to sanctions against them.
DeFi Protocol Linear Finance Suffers Exploit
Decentralized Finance (DeFi) protocol Linear Finance has experienced a significant exploit that resulted in a substantial loss of liquidity for the LUSD token on PancakeSwap and Ascendex.
Balancer Warns Users About Front-End Attack
Balancer, a protocol, has cautioned users against accessing its platform due to an ongoing front-end attack. Users are advised not to interact with Balancer until further information is provided about the situation.
Hot Take: The Ongoing Battle Between Binance and the SEC
A US Judge has refused to rule in the dispute between the Securities and Exchange Commission (SEC) and Binance, urging them to work together on discovery requests. This ongoing battle reflects the regulatory challenges faced by the crypto industry. It highlights the need for collaboration and clear regulations to address issues such as market manipulation, security concerns, and investor protection. As the crypto space continues to evolve, finding a balance between innovation and regulation will be crucial for its long-term success.
Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.