Day: June 5, 2023

SEC sues Binance in US District Court for unregistered securities operations

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The United States Securities and Exchange Commission (SEC) filed suit against Binance, its U.S. platform and CEO Changpeng Zhao (CZ) in the District Court for the District of Columbia on June 5.  4. Our team is all standing by, ensuring systems are stable, including withdrawals, and deposits. We will issue a response once we see the compliant. Haven’t seen it yet. Media gets the info before we do. — CZ Binance (@cz_binance) June 5, 2023 The U.S. regulator pressed 13 charges against Binance, including unregistered offers and sales of the…

Spotify Cuts Headcount by 2%, Offers Severance Package to 200 Employees

In addition to the series of layoffs, Spotify was forced to cancel 11 original podcasts from its in-house studios including ‘How to Save a Planet’, ‘Crime Show’, and ‘Medical Murders’. Music streaming platform Spotify Technology SA (NYSE: SPOT) has announced plans to cut its workforce by 2% leaving up to 200 employees without jobs. According to the announcement, Spotify is carrying out this exercise as part of an effort to diversify how the company handles partnerships with podcasters globally. This retrenchment exercise is peculiar to the podcast division of the company…

SEC Sues Crypto Exchange Binance, CEO Changpeng Zhao, Binance.US Over Multiple Securities Violation Allegations

Binance, Binance.US and CZ offered unregistered securities to the general public in the form of the BNB token and Binance-linked BUSD stablecoin, said the suit, which also alleges that Binance’s staking service violated securities law. There are similar charges against BAM Trading – the operating company for Binance.US – and Binance itself, including failure to register as a clearing agency, failure to register as a broker and failure to register as an exchange. Source

Apple Stock to Hit All-Time High Following Upcoming Launch of AR/VR Headset at Developers Conference

Observers are watching Apple stock, expecting that it would spike as Apple announces a new headset for augmented or virtual reality. Apple Inc (NASDAQ: AAPL) stock is on track to open at a possible all-time high as the tech giant prepares to launch its first-ever augmented reality (AR) and virtual reality (VR) headset. The launch is considered by many as one of Apple’s most significant product launches in the company’s nearly 50-year history. AAPL has climbed over 1% to more than $182 as the market pulses through premarket trading. So…

Elon Musk’s Neuralink Skyrockets from $2 Billion to $5 Billion in Record Time

Neuralink, the brain-computer interface company founded by Elon Musk, reached a valuation of $5 billion after gaining approval for human trials, increasing by over 150% in less than two years. Neuralink, the American neurotechnology company dedicated to the development of brain-computer interfaces, founded by Elon Musk, reached a valuation of $5 billion in private share transactions, according to several sources interviewed by Reuters. The startup of billionaire Elon Musk achieved this milestone thanks to the recent approval by US regulators to begin the human trials phase. Neuralink Valuation Has Increased…

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

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Bitcoin (BTC) fell to multi-day lows at the June 5 Wall Street open as action heated up on exchanges. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Van de Poppe: Trend line failure could mean “bottom isn’t in yet” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $26,640 on Bitstamp. Down nearly 3% versus the weekend’s highs, the pair looked weak as key support lines inched closer. Among these was the 200-week moving average (MA), now at $26,400, which had weathered repeated tests to stay as support…

Bitcoin Retail Demand Will Continue to Remain Strong before Halving

JPMorgan analysts believe that retail investors resolve to accumulate Bitcoins will only go stronger as we approach close to the next halving in mid-2024. After a strong start to the year 2023, Bitcoin (BTC) has been facing some selling pressure over the last few weeks. Over the last 24 hours, the BTC price has tanked by 2% slipping under $27,000. However, banking giant JPMorgan is confident that Bitcoin will continue to see retail demand until the next halving event of mid-2024. In a research report published last Thursday, JPMorgan strategists…

Privacy Concerns Dominate CBDC Discussion at Consensus 2023

The crypto sector is “generally negative and worried when it comes to CBDCs, especially around privacy,” said Arry Yu, co-chair of the U.S. Blockchain Coalition, one of the participants in the roundtable discussions who chose to speak on the record. (The session, which drew 135 participants, was conducted under the Chatham House rule.) Source