Binance may have misled lawmakers in the United States about its business dealings and relationship with its local unit in a letter sent in March, Bloomberg reported on June 8. In a letter sent to United States Attorney General Merrick, senators Elizabeth Warren and Chris Van Hollen asked the Justice Department to investigate whether Binance made
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Bitcoin (BTC) abandoned the United States during the 2022 bear market, new research suggests. In a tweet on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin. BTC supply moves to Asia The past year has seen some seismic shifts in where Bitcoin is held and traded. In
Grill.chat, a chat app based on the Subsocial network, has now implemented Ethereum Virtual Machine (EVM) wallet compatibility, allowing users to chat using their Ethereum identities and send crypto to each other via Polygon, according to a June 7 announcement. Subsocial is a Polkadot parachain designed for social media applications. Grill.chat allows users to participate in
As many developments within the space show how far the Bitcoin (BTC) community has come, an executive from a BTC payment provider shared how in other parts of the world, adoption may still be in its early stages. At the BTC Prague event, Cointelegraph reporter Joseph Hall interviewed Ethan Rose, the founder of Pouch, a
Thiago Cesar is the 34-year-old co-founder of Transfero, a company helping to make crypto more accessible for Brazilians with BRZ, the first stablecoin pegged to the Brazilian real. Cesar grew up in southern Brazil’s Pindamonhangaba municipality, before making the 90-mile trek to Sao Paulo for college. He graduated from Fundação Armando Alvares Penteado, and it
Bitcoin (BTC) cooled the volatility into the June 8 Wall Street open as market participants waited for signals BTC spot clings to 200-week moving average Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling a key long-term trend line near $26,500. After flash volatility surrounding industry news events, the pair returned to sideways trading
The market capitalization of BNB (BNB) has dropped by more than $7 billion since June 5 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance. BNB price eyes technical bounce The impact of the SEC lawsuit on Binance has been substantial so far with BNB down nearly 15% week-to-date. On June
Cryptocurrency-related enforcement actions undertaken by the United States securities regulator significantly increased in the six months following the bankruptcy of cryptocurrency exchange FTX. An analysis of press releases from the U.S. Securities and Exchange Commission (SEC), and news reports on its actions, found that in the six months preceding FTX’s collapse, the SEC undertook approximately
The Financial Conduct Authority (FCA) announced today June 8, that starting from October 8, advertisers of crypto services in the United Kingdom will be subjected to stricter regulations. The U.K. watchdog has mandated that crypto companies in the U.K. implement a “cooling-off period” for first-time investors. Additionally, as part of measures to enhance investor awareness
The United States could run the risk of an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance. Sergej Kunz, co-founder of decentralized finance (DeFi) protocol 1inch Network, believes the SEC’s enforcement action against the two centralized exchanges could have a negative effect on the growth
The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president Ryan Wyatt and several legal experts, appeared before the committee to engage in what transpired to be a constructive dialogue.
On June 8, the European Consumer Organisation (BEUC) — an umbrella group for 46 independent consumer organizations from 32 countries — published a report titled: “Hype or harm? The Great Social Media Crypto Con.“ In the 20-page document, the group states that consumers are not fully aware of the risks associated with crypto. Today BEUC &
Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission. The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rearden in the Southern District of New
Commonwealth Bank (CBA), the largest bank in Australia, has said it will decline or temporarily hold payments to cryptocurrency exchanges citing the risk of scammers. On June 8, CBA said it would decline or put a 24-hour hold on “certain payments to cryptocurrency exchanges.” The bank did not explain which exchanges would be impacted by
Terraform Labs co-founder and CEO Do Kwon may be subject to multiple sentences in the United States and South Korea, according to a senior South Korean prosecutor heading the investigation. It is understood that Kwon is currently serving house bail in Montenegro, after having his bail proposal granted by a Montenegro court on June 5. Both Kwon and
Celebrity defendants Kim Kardashian and Floyd Mayweather are back on the hook for a class action lawsuit that alleges their improper promotion of the now-defunct crypto token EthereumMax (EMAX). While the class-action suit was brought against the pair in January 2022 for allegedly promoting a “pump and dump” scheme, it was dismissed by a federal judge
Trading volumes on centralized exchanges have fallen to their lowest levels in more than four years amid mounting regulatory pressure from United States regulators and lawmakers. According to a June 7 report from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month, marking the second consecutive
Messari CEO Ryan Selkis has praised a newly proposed Republican crypto bill, commenting it is a “10x improvement” on all other crypto bills introduced to the United States Congress so far. The “Digital Asset Market Structure” (DAMS) bill, introduced on June 1, proposes to establish a framework to fill the gaps in the regulatory process
SEC Chair Gary Gensler once offered to serve as an advisor to Binance in 2019, according to lawyers representing Binance and founder Changpeng Zhao, CNBC reports. In documents filed by the SEC on June 7, attorneys from Gibson & Dunn and Latham & Watkins allege that Gensler offered to serve as an advisor to the exchange
Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May. An MPI license allows Circle to offer digital payment token services and domestic and cross-border