Day: June 7, 2023

Crypto Suit Against Kim Kardashian, Mayweather, Pierce to Proceed After Plaintiffs Add Detail to Compliant

The case brought by investors against Kardashian, retired boxer Floyd Mayweather Jr. and National Basketball Association Hall of Famer Paul Pierce among others, made headlines last year. The celebrities were accused of misleading investors through the promotion of digital assets tied to EMAX tokens, which are built on top of the Ethereum blockchain but are not tied to the second-largest cryptocurrency by market cap. Source

SEC lawsuit against Binance and Coinbase unifies the crypto industry

Professionals from various parts of the crypto sector have responded to the United States Securities and Exchange Commission’s (SEC) recent actions against some of the biggest crypto exchanges, Binance and Coinbase.  On June 5, the SEC filed a lawsuit against Binance for allegedly offering unregistered securities. Only a day after filing the Binance suit, the commission also went after Coinbase on somewhat similar grounds, alleging that popular cryptocurrencies offered by the exchange, like Solana (SOL), Polygon (MATIC) and The Sandbox (SAND), qualify as securities. Today we charged Binance Holdings Ltd.…

SEC lawsuits against Binance and Coinbase unifies the crypto industry

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Professionals across the crypto sector have responded to the United States Securities and Exchange Commission’s (SEC) recent actions against two of the biggest crypto exchanges, Binance and Coinbase.  On June 5, the SEC filed a lawsuit against Binance for allegedly offering unregistered securities. Only a day after filing the Binance suit, the commission also went after Coinbase on similar grounds, alleging that popular cryptocurrencies offered by the exchange, such as Solana (SOL), Polygon (MATIC) and The Sandbox (SAND), qualify as securities. Today we charged Binance Holdings Ltd. (Binance); U.S.-based affiliate,…

Former Twitter CEO sparks debate by labeling ethereum as security

In a recent social media skirmish, former Twitter CEO and Bitcoin advocate Jack Dorsey sparked a heated debate by affirming that Ethereum (ETH) could be considered a security. The statement from Dorsey immediately drew attention and triggered a Twitter war with Udi Wertheimer, a Bitcoin Ordinals developer, criticizing Dorsey as a “clown.” In response, Dorsey fired back, challenging Wertheimer to educate him by stating, “ETH is not a security? Teach me, wizard.” Wertheimer countered by sharing an old video of Gary Gensler, Chair of the US Securities Exchange Commission (SEC),…

Stripe, Ripple, Blockchain.com, OpenSea Lead Way for Top 10 US Fintech Companies

Top crypto companies rank amongst the largest Fintech companies in America despite market challenges. Forbes has released its annual list of the top ten largest fintech companies in the US, providing insights into the dynamic landscape of the financial technology industry. However, this year’s list includes a disclaimer due to the market downturn’s impact on fintech valuations. First on the list was payment processing giant Stripe. The crypto-friendly firm, founded by Irish brothers Patrick and John Collison, ranked first on the list despite experiencing a valuation decline from $95 billion…

Sequoia Capital Announces Upcoming Split amid Growing Brand Confusion and Other Reasons

The move will help each business to build teams that have an intimate understanding of their local networks and industries. Venture capital (VC) firm Sequoia Capital has revealed its plans to split up into three distinct businesses. According to the announcement, the new businesses will focus on serving the United States, China, and the Asian markets, albeit separately. Sequoia Capital Cites Reasons for Upcoming Split Sequoia announced plans for the three-way split on Tuesday, sharing numerous reasons behind the decision. One of those is to decentralize the backend operations of…

Ark Invest Acquires Coinbase Shares despite SEC Allegations

Per the latest allegations, Coinbase is operating as an unregistered national securities exchange and broker. Ark Invest remains bullish on Coinbase (NASDAQ: COIN) despite the fact that the US Securities and Exchange Commission (SEC) is currently indicting the crypto company. The asset management company acquired additional Coinbase shares on the same day the regulator slammed the crypto exchange with a new lawsuit, causing its stock to plunge. Ark Buys Coinbase Shares Amid SEC’s Lawsuit On Tuesday, Ark’s Next Generation Internet ETF purchased 53,885 shares, while its flagship ETF, Ark Innovation…