Browsing:Market News

The SEC filed a lawsuit against Coinbase on Tuesday
11 months ago 1 min read

Coinbase Sued By SEC, Shares Plunge

The Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase on Tuesday, accusing the cryptocurrency exchange of operating as an unregistered broker. The lawsuit sent shockwaves through the crypto market, sending Coinbase’s stock price down 13% in a single day. The SEC alleges that Coinbase has been facilitating cryptocurrency trades since at least 2019 without registering as a broker with the agency. The agency also claims that Coinbase has failed to provide investors with important disclosures about the risks of trading cryptocurrencies. Coinbase has denied the SEC’s allegations and said it will vigorously defend itself against the lawsuit. The

DeFi lending platform Defactor Labs announced that it has achieved a milestone by tokenizing $100 million worth of Alpha Bonds.
11 months ago 1 min read

Defactor Lending Protocol Raises $100M in Bond Tokenization for Small Businesses

Decentralized finance (DeFi) lending platform Defactor Labs announced on June 6 that it has achieved a significant milestone by tokenizing $100 million worth of Alpha Bonds. These bonds, which have been tokenized using the ERC-3643 token standard, will be utilized to provide loans to small- and medium-sized enterprises (SMEs), backed by real-world assets like receivables. To ensure compliance and legal guidance, Defactor Labs collaborated with law firm CMS, with Luxembourg being chosen as the governing jurisdiction for the instrument. Black Manta Capital Partners played a crucial role by providing a broker-dealer license and a marketplace powered by Tokeny’s ERC-3643 tokenization

Luxembourg has taken a significant step by initiating a market study focused on blockchain technology and the emerging Web3 sector.
11 months ago 1 min read

Luxembourg to Investigate Blockchain and Web3 Competition

The competition authority in Luxembourg has taken a significant step by initiating a market study focused on blockchain technology and the emerging Web3 sector. This study, which is believed to be the first of its kind, aims to examine the competition dynamics within these industries and identify potential anti-competitive practices. With Luxembourg recognizing the importance of blockchain and Web3 for the digital and environmental transition, ensuring an effective and competitive market for Web3 actors is a key priority. Key Points:

Crypto exchange Kraken experienced operational delays due to issues with several crypto funding gateways on June 6.
11 months ago 1 min read

Kraken Exchange Resolves Gateway Issues and Restores Withdrawals Following Temporary Delay

Cryptocurrency exchange Kraken has had a busy week. On June 6, the exchange experienced operational delays due to issues with several crypto funding gateways. The delays affected deposits and withdrawals for Bitcoin (BTC), Ether (ETH), and ERC-20 tokens. Kraken said it has since fixed the issue and that all services are now operating normally. In addition to the operational delays, Kraken is also facing demands from the Internal Revenue Service (IRS) in the United States to submit customer information. The exchange has called the IRS’s demands an “unjustified treasure hunt” and has filed a lawsuit in San Francisco to block

A group of pro-crypto organizations has filed an amicus brief in support of a lawsuit challenging the sanctions imposed on the Tornado Cash.
11 months ago 1 min read

Crypto Community Fights Back Against U.S. Sanctions on Tornado Cash

A group of pro-crypto organizations has filed an amicus brief in support of a lawsuit challenging the legality of sanctions imposed on the decentralized finance (DeFi) protocol Tornado Cash. The amicus brief, filed by the Blockchain Association, the DeFi Education Fund, and Coin Center, argues that the sanctions imposed by the Treasury Department’s Office of Foreign Assets Control (OFAC) are unlawful. The OFAC imposed sanctions on Tornado Cash in February, alleging that it was being used by criminals to launder money. However, the pro-crypto groups argue that the sanctions are unprecedented and violate the First Amendment right to free speech.

the SEC identified SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI as securities
11 months ago 2 mins read

SEC Labels 10 Tokens Securities in Binance Lawsuit

The U.S. Securities and Exchange Commission (SEC) has intensified its regulatory actions against cryptocurrencies, as it included 10 additional tokens in its charges against Binance on Monday. According to court documents, the SEC identified SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI as securities, referring to them as “crypto asset securities” in its complaint. The SEC alleges that Binance unlawfully solicited U.S. investors to engage in trading these tokens through unregistered platforms. The SEC’s court filing against Binance and its CEO Changpeng Zhao (CZ) encompasses a wide range of crypto securities law violations. The complaint accuses the

Crypto influencer Pauly0x has managed to raise nearly $1.5 million from his community without offering any tangible rewards in return.
11 months ago 2 mins read

Crypto Influencer Scams Community Out of $1.5 Million

The world of cryptocurrencies never ceases to surprise, and recently, crypto influencer Pauly0x has managed to raise nearly $1.5 million from his community without offering any tangible rewards in return. The unusual story has caught the attention of crypto enthusiasts and has left many puzzled about the motivations behind such generous donations. Pauly0x and the “You Get Nothing” Campaign: Pauly0x, founder of “NotLarvaLabs” and a well-known figure in the crypto community with 85 thousand Twitter followers, initiated a peculiar campaign. He purchased the crypto domain “yougetnothing.eth” and invited his community to send him ETH and other cryptocurrencies, explicitly promising nothing

US Senator Elizabeth Warren
11 months ago 1 min read

US Senator Elizabeth Warren: Crypto Used by Drug Lords and Rogue Nations to Launder Money

US Senator Elizabeth Warren has raised concerns about the role of cryptocurrencies in facilitating various forms of crime and illicit financial activity. According to Warren, “rogue nations,” oligarchs, and drug dealers are utilizing digital assets to fund their criminal enterprises. To tackle this issue, she has proposed a bill aimed at addressing the illegal use of cryptocurrencies. As a long-time critic of cryptocurrencies, Senator Warren asserts that the technology is being exploited by criminals for money laundering, evading sanctions, and financing terrorism. She believes that this poses a significant problem that requires a solution. Warren emphasizes the need to close

SEC Crackdown on Binance Sends Crypto Markets into Turmoil
11 months ago 2 mins read

Binance Lawsuit Sparks Sell-Off in Crypto, Coinbase Shares Drop 10%

Shares of Coinbase (COIN) experienced a significant decline of 10.3% following the news of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Binance for allegedly violating federal securities law. The market reacted strongly to the potential implications of increased regulatory scrutiny on the broader cryptocurrency industry. This article explores the impact of the SEC lawsuit on Coinbase, bitcoin’s price, and other related stocks. As news of the SEC’s lawsuit against Binance broke, Coinbase shares plummeted, with a more than 5% drop initially, followed by continued decline. Edward Moya, senior market analyst at foreign exchange Oanda, highlighted that

Binance Faces $231M Net Outflows as Users Fear SEC Action
11 months ago 2 mins read

Binance Users Rush to Withdraw $231M Funds Amid SEC Charges

In response to the recent lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its CEO, Changpeng “CZ” Zhao, cryptocurrency traders have been withdrawing funds from the exchange. Blockchain data reveals a significant net outflow of funds from Binance, indicating a shift in investor sentiment. This article explores the withdrawal trend and highlights key details from the SEC lawsuit. Net Outflows from Binance: Blockchain data analysis from Nansen, a blockchain intelligence platform, indicates that Binance experienced approximately $231 million in net outflows over the past hour. During this period, traders withdrew around $322 million in digital

Binance and CZ Face $100 Million Fine in SEC Lawsuit
11 months ago 2 mins read

Binance and CZ Sued by SEC for Operating Illegal Derivatives Exchange

The United States Securities and Exchange Commission (SEC) has recently filed a lawsuit against Binance, one of the largest cryptocurrency exchanges worldwide, and its CEO, Changpeng “CZ” Zhao. The SEC’s allegations include multiple charges related to the violation of federal securities regulations and the operation of an unauthorized stock exchange. This article provides an overview of the SEC’s claims and highlights the potential consequences for Binance and its CEO. SEC’s Accusations Against Binance: The SEC has accused Binance of disregarding several federal securities laws, including allegations of operating an unauthorized stock exchange on Binance.com and Binance.US. The regulatory body claims

Charles Hoskinson of Cardano (ADA) has issued a stark warning about the potential dangers of artificial intelligence (AI) technology
11 months ago 2 mins read

Charles Hoskinson warns of AI-driven crypto scams

Charles Hoskinson, the visionary founder of Cardano (ADA), has issued a stark warning about the potential dangers of artificial intelligence (AI) technology in the realm of cryptocurrency scams. Hoskinson raised concerns about the use of generative AI, which could enable scammers to deceive individuals by impersonating prominent figures and tricking them into parting with their hard-earned cryptocurrencies. Hoskinson’s Warning In a recent tweet, Hoskinson shared a screenshot of an email in which the sender impersonated him, attempting to persuade the recipient to invest in a supposedly life-saving medical project on the Cardano blockchain. Hoskinson highlighted the grammatical and stylistic quality

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