CryptoX – Cryptocurrency Analysis and News Portal Coinbase CEO Brian Armstrong said the exchange decided to suspend trading of Binance USD (BUSD) because the company had concerns about its liquidity. Source The post Coinbase CEO Armstrong: We Delisted BUSD Due to Liquidity Concerns appeared first on CryptoX. CryptoX Portal
The cryptocurrency exchange Binance has been under scrutiny recently, with Forbes publishing an article that made claims about the exchange’s financial activities. The report indicated the movement of funds or money by Binance, including the transfer of $1.8 billion to hedge funds like Amber Group, Tron, and Alameda Research. The Forbes piece suggested that Binance’s activities were reminiscent of the defunct FTX, which collapsed in 2022. The article made reference to Binance.US’s unsuccessful bid for Voyager and the legal action that the Exchange Commission and United States Securities are preparing…
Should Elon Musk decide to proceed with launching a ChatGPT rival, he will be competing with more than just OpenAI but also with Google’s parent company Alphabet. Elon Musk, the Chief Executive Officer of American electric vehicle maker Tesla Inc (NASDAQ: TSLA) reportedly has his eyes on developing an alternative product that can give ChatGPT a run for its money. As first broken by The Information, the billionaire investor who doubles as the owner of Twitter Inc, Musk is looking to form a new research lab to develop the product.…
Anatoly Yakovenko, the founder and CEO of Solana Labs, has denied claims that Solana’s network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer. While the Solana Foundation confirmed in a Feb. 27 post that the “root cause” of the recent 20-hour network outage is still not clear, the CEO responded to speculation that Solana’s decision to include on-chain votes as transactions is a “massive design flaw” that has led to its many outages. The controversial thread claiming that…
According to Kano, the company has become an enterprise that offers nothing new to its customers. Yuzo Kano, who is the co-founder of Japan-based cryptocurrency exchange bitFlyer, is planning to re-establish himself as the CEO in a stakeholder meeting next month. In an attempt to stimulate what according to him is a stagnating company, Kano plans to re-establish the crypto firm and boost its growth towards an Initial Public Offering (IPO) in the upcoming months. The former bitFlyer CEO resigned from the firm in 2019 after a series of management…
Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm. Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and lead it toward an Initial Public Offering (IPO) in the coming months, according to a Feb. 26 report by Bloomberg. The former CEO also said he also wants to put Japan back on the map…
Grayscale Investments CEO Michael Sonnenshein stated he “can’t imagine” why the United States Securities and Exchange Commission (SEC) “wouldn’t want” to protect Grayscale investors and return the true asset value to them, in a recent podcast interview. In an interview with What Bitcoin Did, a popular podcast hosted by Peter McCormack, on Feb. 25, Sonnenshein explained that the SEC “violated the administrative procedures act” by denying Grayscale Bitcoin Trust (GBTC) to be an approved spot Bitcoin (BTC) exchange-traded fund (ETF), in June 2022. He explained that this act ensures the…
The SEC’s Wahi case could be redundant, in part because “they’ve already been indicted by the DOJ,” Boring said. Still, in “no way, shape or form,” is the trade association “trying to downplay the seriousness of insider trading” she said. Source
The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire. In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent moves to clamp down on the crypto industry, including stablecoin issuer Paxos. Allaire appears to have taken issue with the SEC’s focus on stablecoins, arguing that dollar-pegged “payment stablecoins” should be under the oversight of a banking regulator, rather than the SEC. “I don’t think the SEC…
Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud. SBF Gets 4 New Charges Tacked Onto His Indictment The former CEO of FTX was originally indicted 72 days ago by a federal grand jury in Manhattan, and prosecutors charged the crypto exchange co-founder with eight different offenses. The charges include conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to…