Binance, the global cryptocurrency exchange behemoth, and its former CEO, Changpeng Zhao (CZ), have launched a strong counteroffensive against the U.S. Securities and Exchange Commission (SEC). The move comes as a response to the SEC’s allegations, where the regulatory body accused the exchange of 13 securities law violations, including the
A turbulent start to the week as major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), faced a bearish trend in intraday trading. BTC saw a significant dip of over 5% in the 24 hours, reaching a low of $41,649 before recovering to $42,510, as per CoinMarketCap data. Data from CoinGlass revealed
On Friday, December 1, 2023, a federal judge reprimanded the SEC’s lawyers in a lawsuit involving a cryptocurrency company, dealing another legal blow to the U.S SEC. The court allegedly blasted the SEC for its management of the company’s capital, saying that the agency had fabricated “materially false” claims in
Ethereum (ETH) continues its bullish trend, reclaiming the $2,100 mark amidst discussions about a potential spot Ethereum ETF (Ethereum-based Exchange Traded Fund) approval by the US SEC. The cryptocurrency’s price surged by 2.90%, reaching $2,108, with a market cap exceeding $251 billion. The recent surge began with multiple factors, including
Just months after its U.S subsidiary was shuttered, crypto exchange Bittrex Global is reportedly closing down operations. Following Bittrex US’s bankruptcy filing in Delaware in May, the duo were sued by the U.S SEC for running a securities exchange without proper authorizations. This ultimately led to the closure. After “all
Securities and Exchange Commission (SEC) Chairman Gary Gensler has expressed a cautiously optimistic perspective regarding the potential revival of the defunct cryptocurrency exchange, FTX. Gensler’s remarks came during a discussion at DC Fintech Week, where he underlined that a reinvigorated FTX could succeed if its new leadership operates with a
In its action against Do Kwon and Terraform Labs, the United States SEC has argued that there is “no genuine dispute as to any material fact” and so has asked a federal court for a summary judgement. The SEC’s brief restates the agency’s contention that Kwon and Terraform offered securities,
The U.S SEC has issued a subpoena against payment processing behemoth PayPal in relation to its stablecoin pegged to the U.S. dollar. On November 2nd, PayPal publicly stated in its Q3 financial report with the SEC that it had received a subpoena from the SEC’s Enforcement division over its PYUSD
BTCO, the ticker for Invesco and Galaxy’s spot Bitcoin exchange-traded fund (ETF), has been listed on the website of the Depository Trust and Clearing Corporation (DTCC), indicating progress in the application procedure. Since the ETF was not featured on the list on October 25 according to the WayBack Machine’s site
Star stock picker Cathie Wood expressed growing confidence that U.S. regulators will finally approve a Bitcoin ETF after years of rejections. In a recent interview, the Ark Invest CEO revealed her firm has been engaged in communications with the SEC regarding Ark’s spot Bitcoin ETF application. Wood views this as
