SEC Official Says Binance US Is Operating โ€˜Unregistered Securities Exchangeโ€™

CryptoX – Cryptocurrency Analysis and News Portal “The staff believes โ€“ based solely on the facts and circumstances currently known to the staff โ€“ 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

FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation โ€“ Bitcoin News

On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchangeโ€™s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the companyโ€™s total assets were found in FTX-related addresses, but only $694 million is considered โ€œCategory A Assets,โ€ or liquid cryptocurrencies such as bitcoin, tether, or ethereum. In addition, John J. Ray III, FTXโ€™s current CEO, stated that the debtorโ€™s effort had been significant, and he added that the exchangeโ€™s assets were โ€œhighly commingled.โ€ A Preliminary…

The Rise and Fall of Silvergateโ€™s Crypto Business

Silvergate identified the number of digital-assets customers it was working with each quarter, and that crowd steadily rose to 1,620 last quarter โ€“ 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 launches anti-scam campaign after Hong Kong pilot run

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 โ€œjoint anti-scam campaignโ€ 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.…

US legislators renew call for EPA investigation of crypto mining emissions data

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…