The startup offers on- and off-ramps that could make it easier for new users to interact with Web3 projects. Source
Web3 Payments Firm Transak Raises $20M
Day: May 30, 2023
Texas Bill That Would Limit Crypto Miners’ Participation in Cost-Saving Grid Programs Stopped in House Committee
The news that the bill wouldn’t pass the House was tweeted by Dennis Porter, an advocate that has been heavily involved in the bill’s process. “This win ensures that energy innovation will continue to grow” in the U.S. and “highlights the power of the bitcoin community,” Porter said in a statement to CoinDesk. Source
2021 – The Year Bitcoin Became Salvadoran
When the bill was announced in July 2021, BTC was trading at around $30,000. When the bill became law in September 2021, it was trading around $45,000. By September 2022, a year after the law was enacted, it was below $20,000. Any discussion around El Salvador and adoption would be incomplete without acknowledging these price swings and the bitcoin bear market. Original
US district judge sends matter of FTX independent examiner to appellate court
A United State district judge has referred a motion requesting the appointment of an independent examiner for bankrupt crypto exchange FTX to appellate court. In documents filed in U.S. District Court for the District of Delaware on May 30, Judge Colm Connolly said the U.S. trustee in FTX’s case, Andrew Vara, requested an appeal following the bankruptcy court rejecting a motion in February to appoint an examiner overseeing the failed crypto exchange. According to court filings, bankruptcy laws allow the appointment of an independent examiner when certain conditions are met…
Should Russia Bolster or Ban Bitcoin?
The country reportedly backed out of plans to build a “national crypto exchange,” its latest sign of indecision. Original
Former Coinbase Employee, U.S. SEC Settle Insider Trading Charges
“We allege that Ishan and Nikhil Wahi, respectively, tipped and traded securities based on material nonpublic information, and that’s insider trading, pure and simple,” he said. “The federal securities laws do not exempt crypto asset securities from the prohibition against insider trading, nor does the SEC. I am grateful to the SEC staff for successfully working to resolve this matter.” Source
SEC settles case against Wahi brothers for Coinbase insider trading
Former Coinbase product manager Ishan Wahi and his brother Nikhil Wahi have agreed to settle charges of insider trading brought against them by the United States Securities and Exchange Commission (SEC), the agency announced onMay 30. The brothers were accused of using knowledge of nine crypto assets that would be listed on Coinbase in the future to purchase before listing. The SEC filed suit against them on July 21, 2022. That agency is now demanding disgorgement of ill-gotten gains with interest. SEC’s Division of Enforcement director Gurbir S. Grewal said in…
Bitcoin Trades at a 20% Discount on Binance Australia Following Banking Issues in the Country
The exchange halted Australian dollar bank transfers early May. Original
Crypto Exchange Bybit Exits Canada Citing Recent Regulatory Development
Bybit has announced that it will be exiting the Canadian market starting as soon as May 31 due to recent regulatory developments in the country, adding to several other exchanges that pulled out from the country. Source
Binance considers allowing traders to secure collateral at banks: Report
Cryptocurrency exchange Binance is reportedly exploring a potential solution to reduce counterparty risk by allowing some of its institutional clients to keep their trading collateral at a bank instead of on the crypto platform, according to Bloomberg. Binance is discussing a proposal to let some customers keep their collateral for margin trading in a bank account, which could reduce counterparty risk https://t.co/IGnLqASBuA — Bloomberg Crypto (@crypto) May 30, 2023 This move comes in response to demands from institutional digital-asset traders for increased security measures following the collapse of FTX late…