Silvergate has had a rough week, after disclosing on Wednesday that it would delay the filing of its annual report due to questions from its auditors. In the same notice, the bank admitted it was facing investigations from bank regulators and the U.S. Department of Justice, and said its ability to be a “going concern” over the next year may be in doubt. Source
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CryptoX – Cryptocurrency Analysis and News Portal “The staff believes – based solely on the facts and circumstances currently known to the staff – that the offering and sale of VGX tokens has the attributes of a securities transaction,” he said. “The staff also believes that Binance US is operating an unregistered securities exchange in the United States.” Source The post SEC Official Says Binance US Is Operating ‘Unregistered Securities Exchange’ appeared first on CryptoX. CryptoX Portal
“The staff believes – based solely on the facts and circumstances currently known to the staff – that the offering and sale of VGX tokens has the attributes of a securities transaction,” he said. “The staff also believes that Binance US is operating an unregistered securities exchange in the United States.” Source
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies such as bitcoin, tether, or ethereum. In addition, John J. Ray III, FTX’s current CEO, stated that the debtor’s effort had been significant, and he added that the exchange’s assets were “highly commingled.” A Preliminary…
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Silvergate identified the number of digital-assets customers it was working with each quarter, and that crowd steadily rose to 1,620 last quarter – most of those identified as institutional investors, though more than 100 were “digital asset exchanges.” However, those crypto customers’ deposits plummeted from almost $12 billion in the third quarter last year to less than $4 billion by the end of the year. Source
Binance, in cooperation with law enforcement agencies, is launching a campaign to prevent scams by issuing targeted alerts to potential victims, according to a March 3 blog post from the company. The project, called the “joint anti-scam campaign” was rolled out first in Hong Kong, and the company now intends to expand it into other jurisdictions. Keeping our ecosystem and the #Binance community safe is at the core of what we do. Which is why we partnered with law enforcement agencies across the globe to launch the Joint Anti-Scam Campaign.…
United States Senator Edward Markey and Representative Jared Huffman announced on March 3 that they would reintroduce the Crypto-Asset Environmental Transparency Act in Congress. The move comes ahead of a Senate hearing on the environmental impact of crypto mining, which Markey will chair on March 7. Markey and Huffman first introduced the bill in December, in the previous Congress. Senator Jeff Merkley acted as a co-sponsor in the Senate. The bill would require crypto mining companies to disclose emissions for operations that consume more than 5 megawatts of power and…
The Fox animated comedy series has yet to air a single episode and has made about $650,000 from NFT sales so far. Source