Day: June 7, 2023

Binance.US halts trading for dozens of USDT, BTC, BUSD pairs amid SEC lawsuit

Binance.US removed trading services for several crypto tokens on June 7. The move follows a lawsuit filed earlier this week by the United States Securities and Exchange Commission against Binance entities and thei leadership.  “After careful consideration, Binance.US will remove selected Advanced Trading pairs on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT. We have also decided to streamline our Buy, Sell & Convert offering and have paused our OTC Trading Portal,” reads an announcement. The pause affects over 90 trading pairs of the stablecoin Tether (USDT), eight…

Security or not, Ethereum price looks poised to hold the $1.8K level based on 3 key metrics

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Ether’s (ETH) price retested $1,780 after the news of the U.S. Securities and Exchange Commission suing cryptocurrency exchanges Binance and Coinbase but it’s not preposterous to suggest that Ether bulls should be more than happy that its price did not break below the 67-day support.  The SEC actions are actually a double-edged sword for Ethereum and on crypto Twitter, some analysts attributed the bounce in Ether as a result of it not being listed as a security in either of the cases brought against Binance and Coinbase. For instance, the…

Tel Aviv Stock Exchange completes proof of concept to tokenize fiat and bonds

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A new phase in the Tel Aviv Stock Exchange’s integration of blockchain technology and traditional assets has been completed with the minting of the first dummy digital government bond as an ERC-1155 security token.  The bond mint is part of the proof of concept (PoC) phase of Project Eden, a partnership between the Israeli Ministry of Finance and the stock exchange to explore blockchain infrastructure in issuing and settling government bonds. Also included in the proof of concept was the tokenization of an Israeli Shekel — the country’s fiat currency…

Bitcoin Price (BTC), ETH, USDT Trade at Premiums on Binance.US as Users Flee Following SEC Lawsuit

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The BTC-U.S. dollar trading pair on Binance.US jumped as high as $28,800 earlier on Wednesday morning, some $1,700 higher than the average price across other exchanges at that time, data shows. Recently, the BTC-USD pair was changing hands at $27,900, while the CoinDesk Bitcoin Price Index (XBX), which feeds from prices on multiple exchanges, stood at around $26,400. The difference represents an almost 6% price premium on Binance.US. Original

Cointelegraph Pitch Room launched, bridging promising projects to quality investors

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Cointelegraph presents Pitch Room, a new stage in the effort to boost innovation in the crypto space, dedicated to investors interested in deal flow. Pitch Room opens doors for promising startups in the Web3 space, exploring new markets and building solutions with the potential to disrupt the industry. Investors can view a one-page summary of each company, a two-minute elevator pitch and an in-depth presentation. The goal of Pitch Room is to bridge venture capitalists and private equity managers with innovative firms at the cutting edge of the crypto space.…

To Identify or Not in a Web3 World?

Ironically, permissionless decentralized applications (dapps) leave significant groups of users unable to participate. Regulated entities such as asset managers or allocators are generally not able to do business with “bad actors” (terrorists, financial criminals, etc.). In a completely permissionless environment, the participants are unknown, and, therefore, the “bad actor” risk cannot be addressed. Hence, know-your-customer (KYC) checks and the assessment of the potential money laundering risk are important steps to building trust in the digital asset ecosystem and broadening institutional adoption of Web3 opportunities. Source

Bitcoin rebounds, briefly surges above $27k

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Despite regulatory uncertainty with news of the SEC lawsuit against Binance and Coinbase, bitcoin saw a strong rebound over the last 24 hours. The coin saw prices as high as $27,243.60, according to a Tweet by CoinGecko on June 6. Steps towards a recovery At the time of writing, bitcoin has since retracted back to $26,508.01, where it currently sits at a 2.03% gain, which still positions the coin in the top 10 gainers for June…

Kim Kardashian EMAX Case Proceeds as California Judge Rejects Motion to Dismiss

Judge Fitzgerald reject arguments from Kim Kardashian and Paul Pierce’s lawyers to dismiss the EMAX class-action lawsuit. A California judge has ruled that Reality TV star and businesswoman Kim Kardashian posted false information on social media while promoting EthereumMax (EMAX). The ruling allows the plaintiffs to proceed with the case against the media personality, retired boxer Floyd Mayweather Jr., and NBA Hall of Famer Paul Pierce. Kardashian’s attorneys had moved to dismiss the suit, claiming there was no evidence investors bought EMAX tokens based on her posts on Instagram. Los Angeles District…

Robinhood Scrutinizing Tokens Designated as Securities by SEC

Crypto market prices have tumbled significantly since the news began to make rounds. Altcoins like Solana (SOL), Cardano (ADA), Polygon (MATIC) and many other tokens face the possibility of being delisted from Robinhood Markets Inc (NASDAQ: HOOD), after the United States Securities and Exchange Commission (SEC) charged Binance and Coinbase Global inc (NASDAQ: COIN) for trading unregistered securities.  At present, Robinhood is taking another look at the digital assets offerings on its platform to “determine what, if any, actions to take,” according to Dan Gallagher, a one-time SEC Commissioner and…