Month: June 2023

Binance.US Says SEC Lawsuit Is Unjustified

Many crypto exchanges including Binance believe that the SEC’s requested relief will do more harm to investors than good.  The United States arm of the Binance exchange, Binance.US has responded to the lawsuit filed against it by the Securities and Exchange Commission (SEC).  According to Binance.US, the lawsuit is without any basis and therefore, the exchange is ready to go to court to refute all of the unwarranted accusations. In light of facts, the law at the time, as well as the SEC’s precedents, the exchange believes that the regulator’s…

Bitcoin Price (BTC) Shows Resilience Amid SEC Lawsuits Against Binance, Coinbase

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Bitcoin (BTC) quickly bounced back after tumbling to a three-month low of less than $25,500 on Tuesday following news that Coinbase (COIN), had been sued by the U.S. Securities and Commission Exchange (SEC) on allegations of violating federal securities law. This followed a similar suit against Binance on Monday. Already on its heels following the Binance suit, bitcoin sank further on the Coinbase action before recovering throughout the day to again top $27,000. It’s retreated a bit overnight Wednesday to the current $26,800, still up 4% over the last 24…

Ethereum Is Security, Former Twitter CEO Jack Dorsey Says

There are ongoing efforts to classify Ethereum. As of now, a final decision is yet to be reached regarding whether it should be considered a security or not. Considering the arguments, predicting the final outcome is challenging. With the recent noise about cryptocurrency regulation and events such as crypto exchanges being sued for offering unregistered securities, there have been varying views from experts and high-profile individuals about the state of some specific cryptocurrencies. One of them is a recent comment by Jack Dorsey, the former Twitter CEO, arguing that Ethereum…

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…