Day: August 11, 2023

Binance US failed to produce accounting statements despite extension

As Binance US countered the United States Securities and Exchange Commission’s (SEC) lawsuit, a federal court recently asked the exchange to provide accounting statements. However, citing complexities, they requested an extension, which was granted. Weeks later, Binance US is yet to submit accounting statements, prompting concerns about compliance. Accounting complexities Joe Carlasare, a partner at Amundsen Davis, LLC, and the Co-chair of the Cryptocurrency, Blockchain, and FinTech group, shared a tweet on Aug. 9 displaying a document indicating that BAM Management US Holdings Inc., which is behind Binance US, had…

Terra Classic (LUNC) Chances Of Revival Grow Slimmer, Here’s Why

Terra Classic (LUNC) has suffered persistent declines since the network’s collapse back in 2022. These declines have ranged from its price through to the network’s Total Value Locked (TVL). And even while development abounds among its community members to try to restore it to its past glory, the numbers point to a low possibility of recovery. Terra Classic TVL Falls To All-Time Low After Terra’s crash in 2022, the network lost a significant chunk of its TVL due to investors pulling out their funds as well as developers moving their…