Day: March 27, 2023

Binance expands with blockchain hub in Georgia

Binance, one of the world’s largest cryptocurrency exchanges, is expanding its global reach with the opening of a new blockchain hub in Georgia. The move is aimed at promoting further adoption of cryptocurrencies in the country, creating more job opportunities, and attracting talent to the Georgian blockchain sector. Binance referred to the hub as a “Web3 outpost,” and it intends to use it to promote industry education and innovation, as well as to organize educational and hackathon events. The hub is expected to create dozens of new jobs by the…

Binance Sued by CFTC for Alleged Violations of Trading and Derivatives Rules – Bitcoin News

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The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim, for allegedly aiding and abetting Binance’s violations. CFTC Charges Binance with Willful Evasion of Federal Law; CEO Changpeng Zhao Named in Lawsuit The CFTC has charged Binance with willful evasion of federal law as the…

Titanium Blockchain CEO Sentenced to Four Years in Prison

In a cryptocurrency fraud scheme that took place in late 2017 and early 2018, investors purchased BARs, a crypto token, to participate in an initial coin offering (ICO) for Titanium Blockchain Infrastructure Services (TBIS), a company founded by Michael Stollery. The ICO raised approximately $21 million from investors in the United States and overseas. However, in 2018, the United States Securities and Exchange Commission (SEC) accused Stollery of not registering the ICO with the regulator and other allegations. In July 2022, Stollery pleaded guilty to one count of securities fraud…

NEAR Co-Founder Illia Polosukhin’s Journey to Blockchain Success

But maybe this is just table stakes. Polosukhin has far bigger plans. “We want to hit one billion users,” says Polosukhin, who opens up about the journey that brought him from artificial intelligence (AI) to crypto, why Near is launching a “Blockchain Operating System,” and how AI once again could be part of Near’s future. Bonus? He shares why, in his view, blockchain and AI just might save humanity. Source

Crypto Exchange Binance, Founder CZ Sued by CFTC Over Unregistered Derivatives Products

The lawsuit, filed in the U.S. District Court for the Northern District of Illinois on Monday, alleged that Binance operated a derivatives trading operation in the U.S., offering trades for cryptocurrencies including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD), which the suit referred to as commodities. The suit also alleged that the company, under CZ’s leadership, directed its employees to spoof their locations through the use of virtual private networks. Source BinanceCFTCCryptoDerivativesExchangeFounderProductsSuedUnregistered CryptoX Portal

Biggest Movers: XRP Nears 5-Month High to Start the Week, Despite Crypto Market Consolidation – Market Updates Bitcoin News

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Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week. XRP, formerly ripple, rose for a third consecutive session on Monday, as prices neared a five-month high. Following a low of 0.4438 on Sunday, XRP/USD raced to an intraday high of $0.4877 earlier in today’s session. As a result of the…

Binance and CZ sued by CFTC over US regulatory violations

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The United States Commodity Futures Trading Commission has filed suit against Binance and CEO Changpeng “CZ” Zhao for trading violations, according to a Bloomberg report. The suit was filed in the U.S. District Court for the Northern District of Illinois. According to the CFTC, Binance failed to meet its regulatory obligations by not properly registering with the derivatives regulator. The cryptocurrency exchange has been the focus of a CFTC investigation since 2021. The exchange acknowledged in February that it would likely face regulatory action in the United States and was already working…

Crypto Exchange Binance and CEO Changpeng Zhao Sued by CFTC Over Regulatory Violations

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MicroStrategy Settles $205 Million Debt with Silvergate & Shores Up on Bitcoin 

MicroStrategy has bought over 6,000 more Bitcoin after fully satisfying its sizable Silvergate debt obligations. MicroStrategy Incorporated (NASDAQ: MSTR) recently increased its Bitcoin (BTC) holdings following a recent Silvergate Bank (NYSE: SI) loan repayment. According to reports, the BTC-loving business intelligence firm has bought an additional 6,455 Bitcoin for $150 million. The purchase, which also translates to an average price of $23,238 per token, brings MicroStrategy’s total Bitcoin holdings to 138,955 BTC. The company’s Bitcoin cache has an overall value of $4.1 billion at an average of $29,817 per token.…