The United States Securities and Exchange Commission (SEC) is struggling to locate Binance and its CEO, Changpeng Zhao (CZ), to serve legal papers. The regulator filed a legal document with the District Court in the District of Columbia on Thursday, stating that neither Binance nor its executive is known for revealing the premise of a
Circle, the US-based company behind the stablecoin USDC, has appointed Heath Tarbert, the former Commodity Futures Trading Commission (CFTC) chair, as its new Chief Legal Officer. Tarbert will officially join Circle in July, and his role will involve building a bridge between traditional finance (TradFi) and web3. Pushing for Regulatory Clarity Circle aims to push
In a landmark ruling, a US district judge has favored the US Commodity Futures Trading Commission (CFTC) in its litigation against Ooki DAO for running an illegal trading platform and failing to comply with the Bank Secrecy Act. The CFTC charged Ooki DAO in late 2022 with operating an illegal trading platform, registration violations and
According to a new filing made by the Securities and Exchange Commission (SEC), Binance’s US branch, Binance.US, lost as much as $181 million in 2022, despite receiving $132 million from its parent company BAM Management. The auditor hired by Binance.US, FGMK, attributed the loss to challenging market conditions in the crypto industry. The news of
According to a recent report from on-chain analytics firm Glassnode, investors are increasingly directing their capital towards low-risk assets such as stablecoins and Bitcoin. The report suggests that technicals indicate altcoins are currently at a critical turning point, poised to experience either a positive or negative breakout. Glassnode’s analysis of Uniswap and futures trading volumes
In the last 24 hours, Binance and Coinbase have seen a combined net outflow of $597.2 million across all platforms. This information was obtained from data supplied by Nansen, a blockchain analytics firm. Nansen further broke down the data to show that Binance and its US subsidiary, Binance US, recorded a negative netflow of $491.9
According to Bloomberg News, Cathie Wood’s Ark Investment Management LLC has increased its stake in Coinbase after the US Securities and Exchange Commission (SEC) accused the exchange of operating unlawfully. The Ark Innovation ETF and two other funds bought 419,324 shares of Coinbase on Tuesday. Ark Invest has been bullish on Coinbase, purchasing an additional
Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has criticized the cryptocurrency industry for its lack of compliance. Speaking at the Piper Sandler Global Exchange & Fintech Conference on Thursday, Gensler argued that crypto exchanges can register with the agency, despite platforms’ claims that they have tried to do so. He stated
Binance.US has been under investigation by the Securities and Exchange Commission (SEC) since last year. Recently, the regulatory body filed a complaint against the cryptocurrency exchange, which included testimony from two former CEOs of the company, Catherine Coley and Brian Brooks. The filings give insight into the challenges faced by the executives while leading Binance.US
Wall Street Memes, one of the most popular retail investing communities on the internet, has recently launched a new presale of its associated $WSM token. The new presale has raised close to $5.0 million in just 12 days, surpassing the successful mint of the Wall Street Bulls 10,000 piece NFT collection in 2021, which famously