Month: June 2023

​SEC and Binance.​​US strike a temporary agreement on asset access

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Binance, Binance.US, and the Securities and Exchange Commission (SEC) reportedly revealed an agreement, late Friday, June 16, temporarily limiting access to customer funds exclusively to Binance.US employees. According to reports, the proposed agreement, pending approval from the overseeing federal judge, outlines measures for Binance.US to prevent any access by Binance Holdings officials to private keys of wallets, hardware wallets, or root access to Binance.US’s Amazon Web Services tools. Additionally, the U.S.-based crypto trading platform will disclose comprehensive information on business expenses, including estimated costs, in the upcoming weeks. The proposed…

Cardano founder Charles Hoskinson goes hunting for aliens & UFOs

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Cardano founder Charles Hoskinson is currently searching for a UFO — or some sort of space object — that has crashed near the coast of Papua New Guinea in the Pacific Ocean. The search is part of the Galileo Project that received $1.5 million in funding from Hoskinson in March. The project is operating an expedition led by Harvard astronomer Avi Loeb and his student Amir Siraj, who identified a “meteor of interstellar origin” that crashed into Earth from outer space back in 2014. Yes. — Charles Hoskinson (@IOHK_Charles) June…

Judge Signs Off on Binance, SEC Deal to Move All U.S. Customer Funds, Wallet Keys Back Onshore in Lieu of Restraining Order

Judge Jackson told the parties that it would be better for them to come to an agreement on a proposed stipulation than to have her craft a restraining order, which would come with a two-week time limit. Two weeks would give insufficient time to prepare, given the more than 4,000 pages of exhibits the parties have already filed, she said during a hearing earlier this week. Source

InQubeta aims to redefine presale fundraising as crypto investors participate

In the constantly changing crypto landscape, InQubeta, an AI and blockchain startup, aims to reshape presale fundraising. Its platform and strategies have caught the interest of crypto investors searching for opportunities in the field. InQubeta is redefining the AI industry Startups can raise funds before their launch through presale events. Early investors can buy tokens at a lower price during these fundraisers, increasing their chances of earning profits when the project gains momentum. InQubeta has improved this idea to provide a better presale experience for investors. What distinguishes InQubeta is its…

Crypto payments platform Wyre shutters citing bear market conditions

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San-Francisco-based crypto payments firm Wyre is shutting down after almost 10 years in business, citing the financial challenges of the bear market, and not anything to do with any hawkish “regulatory agency direction” in the United States. In a June 16 blog post, the firm stated that it made the difficult decision to wind down to “protect the best interest of our key stakeholders and customers.” “Wyre continues to secure customer assets. If you have assets on the Wyre platform, you can continue to withdraw them via Wyre’s dashboard until…

ApeCoin loses 28% in a week amid salary controversy

ApeCoin, the buzzing cryptocurrency governed by ApeCoin DAO, is sailing in tumultuous waters with a 28% drop in value over the last week. The unsettling salary revelations of the DAO’s leadership have stirred up a storm within the community.  ApeCoin (APE), an Ethereum-based digital currency associated with the Bored Ape Yacht Club ecosystem, has struggled with choppy market conditions.  The upheaval seems to have originated not from external market forces but within its governing body, the ApeCoin DAO. Last week, the cryptocurrency world was abuzz when Vulkan, the secretary of…

KuCoin price jumps over 18% as crypto markets rebound 

KuCoin (KCS) has emerged as one of the top gainers in the last 24 hours, with an 18% price surge. Meanwhile, the global crypto markets begin a slow recovery following the bloodbath triggered by the US Securities and Exchange Commission’s (SEC) recent enforcement actions against market participants. The price of bitcoin (BTC), ethereum  (ETH), and other cryptocurrencies have posted decent gains in the last 24 hours, suggesting investor confidence may gradually return to the space following the crazy bloodbaths witnessed in recent weeks. Gary Gensler’s SEC took legal actions against…

FDIC cracks down on misleading insurance claims by OKCoin

The US Federal Deposit Insurance Corp. (FDIC) issued a cease and desist letter to crypto exchange OKCoin over misleading statements regarding the exchange’s insurance status. In a letter dated June 15, the FDIC accused OKCoin and its senior executives of making false representations that certain crypto-related products were FDIC-insured. The agency has ordered OKCoin to remove these misleading claims from its website, social media accounts, marketing materials, mobile app, and other customer-facing publications within 15 business days. Moreover, OKCoin must provide written confirmation assuring the FDIC of their prompt compliance.…