The firm blamed the pause on a “certain issue” with one of its service partners, and said it is working on a contingency plan, according to a blog update. Source
South Korean Crypto Yield Platform Haru Invest Pauses Withdrawals and Deposits
Month: June 2023
why it is crucial for crypto
While the SEC states its mission is to protect investors, there are questions about its methods and motives. This piece unravels the SEC’s structure, balance sheet, and notable interactions with cryptocurrency entities, providing an insightful and comprehensive look at a complex issue. Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Hailed as a beacon of free market principles, the cryptocurrency market is going through an intriguing phase. It’s an era where the invisible hand of…
Sam Bankman-Fried's Bahamas Litigation May Take ‘Months or Years,’ His Counsel Says
CryptoX – Cryptocurrency Analysis and News Portal The FTX founder’s lawyers argue that a new Supreme Court judgment shows that he has not committed fraud. Original Source The post Sam Bankman-Fried's Bahamas Litigation May Take ‘Months or Years,’ His Counsel Says appeared first on CryptoX. CryptoX Portal
‘All of the SEC’s claims fail’ — Binance.US rebuts motion to freeze funds
Binance.US has asked the court to deny the securities regulator’s proposed temporary restraining order against its assets ahead of a June 13 hearing, claiming that the move would “effectively end” its business. In a June 12 filing, Binance.US slammed the SEC’s emergency motion for a temporary restraining order on its business, calling it “draconian and unduly burdensome.” The hearing on the temporary restraining order is scheduled for June 13 in the U.S. District Court for the District of Columbia. SEC/Binance Newsflash: Binance Fights Back Binance, CZ and the BAM Defendants…
SEC’s Gensler says BTC, ETH ‘not securities’ in a newly surfaced video
A newly surfaced video featuring Gary Gensler from 2018 has made the rounds on social media, showing the now-chair of the United States securities regulator agastating that multiple cryptocurrencies are “not securities.” On June 12 multiple Twitter accounts shared the video which is understood to come from a 2018 event hosted by Bloomberg for institutional investors. “Over 70% of the crypto market is Bitcoin, Ether, Litecoin, Bitcoin Cash. Why did I name those four? They’re not securities,” Gensler says in the video. Chair Gensler in 2018 at a Bloomberg conference in NYC:…
Cato Institute survey reveals low US public awareness of CBDCs
A national survey conducted by the Cato Institute results reveal a significant lack of public familiarity with and support for s CBDC. In a survey from the Cato Institute, results revealed insights about American citizens’ familiarity with, and attitudes towards, financial products and institutions, including a proposed CBDC. The poll surveyed 2,000 individuals, with a margin of error of +/- 2.54%. Firstly, the survey asked about the financial products owned or used by respondents in the past year. Checking accounts proved most popular, used by 83% of those surveyed. This…
Jump Trading seeks to move Terra class action suit to California
Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that it would significantly speed up legal proceedings. The lawsuit was initially filed on May 9 by Taewoo Kim, individually and on behalf of others impacted by the collapse of the Terra/Luna ecosystem. Kim is represented by Selendy Gay and Robbins Geller Rudman & Dowd LLP. Jump Trading embroiled in controversy as lawsuit claims it manipulated TerraUSD’s value. Accusations of violating…
Atomic Wallet hackers turn to OFAC-sanctioned Garantex: Elliptic
Illicit funds gained from the $35 million Atomic Wallet hack are on the move again, with sanctioned Russian-based crypto exchange Garantex reportedly becoming the latest to come in contact with the hacked crypto. On June 13, blockchain security and compliance firm Elliptic updated the situation regarding the stolen Atomic Wallet funds. It alleges that the North Korean hacking collective, the Lazarus Group — which is believes is behind the attack — has used sanctioned Russian-based crypto exchange Garantex to launder the loot. In a Twitter post, the firm said there…
Hong Kong politician extends invitation to Coinbase to operate in the SAR
A Hong Kong lawmaker is extending an invitation to Coinbase, despite news of the SEC lawsuit occurring just one week earlier. Hong Kong Legislative Council member Johnny Ng has taken to Twitter to invite Coinbase and other global virtual asset trading operators to the financial center, emphasizing the region’s supportive environment. I hereby offer an invitation to welcome all global virtual asset trading operators including @coinbase to come to HK for application of official trading platforms and further development plans. Please feel free to approach me and I am happy…
UN report highlights ‘serious and urgent’ concerns about AI deepfakes
The United Nations has called artificial intelligence-generated media a “serious and urgent” threat to information integrity, particularly on social media. In a June 12 report, the UN claimed the risk of disinformation online has “intensified” due to “rapid advancements in technology, such as generative artificial intelligence” and singled out deepfakes in particular. The UN said false information and hate speech generated by AI is “convincingly presented to users as fact.” Last month, the S&P 500 briefly dipped due to an AI-generated image and faked news report of an explosion near…