Tag: Exchange

SEC Seeks To Freeze Binance.US Assets Hours After Filing Lawsuit Against the Crypto Exchange

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Just a day after filing a 136-page complaint against Binance, the U.S. Securities and Exchange Commission (SEC) filed a motion for a temporary restraining order to freeze assets tied to the US arm of the world’s largest crypto exchange. On Monday, the SEC filed 13 charges against Binance and its CEO Changpeng Zhao over what the federal agency’s head, Gary Gensler, called “an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law.” After filing the lawsuit, the regulator on Tuesday submitted a new…

$1,280,000,000 in Crypto Yanked Out of Coinbase Amid SEC Lawsuit Against the US Exchange: On-Chain Data

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Blockchain data and research firm Nansen says that hundreds of millions of dollars exited the Coinbase group in the wake of a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). According to Nansen, Coinbase and the exchange’s custodial arm recorded negative netflows, the sum of deposits and withdrawals, of approximately $1.28 billion after the SEC move. “As we write, the SEC has announced that it is suing Coinbase. Looking at on-chain centralized exchange data, it shows that Coinbase + Coinbase custody have negative netflows of $1.28 billion.” Source:…

Solana price prediction, DeFi exchange, Tradecurve, gearing up for a rally

Solana, initially introduced as a potential competitor to Ethereum, garnered significant attention in the cryptocurrency industry as a promising blockchain platform. However, the platform’s association with the now-bankrupt cryptocurrency exchange, FTX, and network shutdowns in 2022 impacted investor confidence, subsequently influencing the price of its native token, SOL. Despite the challenges faced in the past, SOL prices have shown signs of recovery in 2023, leading the Solana community to anticipate further price gains. Concurrently, the token of Tradecurve, a new decentralized finance (DeFi) exchange, could surge in its ongoing presale.…

Binance Customers Appear Unfazed by SEC Lawsuit As Exchange Sees Only Modest Bitcoin Withdrawals: CryptoQuant

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Binance customers do not seem to be particularly affected by the Securities and Exchange Commission’s (SEC) lawsuit against the world’s largest crypto exchange by trading volume. According to data shared by Ki Young Ju, the CEO says that Binance did suffer outflows of 10,000 Bitcoin (BTC), the largest withdrawal total of 2023. But that outflow looks less statistically significant when looking at a zoomed-out time chart, according to Ki Young Ju. The impact of 10k $BTC outflows on Binance.https://t.co/1TXeqp1lnZ — Ki Young Ju (@ki_young_ju) June 5, 2023 Julio Moreno, head…

Tel Aviv Stock Exchange completes proof of concept to tokenize fiat and bonds

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A new phase in the Tel Aviv Stock Exchange’s integration of blockchain technology and traditional assets has been completed with the minting of the first dummy digital government bond as an ERC-1155 security token.  The bond mint is part of the proof of concept (PoC) phase of Project Eden, a partnership between the Israeli Ministry of Finance and the stock exchange to explore blockchain infrastructure in issuing and settling government bonds. Also included in the proof of concept was the tokenization of an Israeli Shekel — the country’s fiat currency…

‘Institutions Have Entered the Chat’ As CFTC Approves Chicago Board Options Exchange for Leveraged Crypto Products

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The Commodity Futures Trading Commission (CFTC) has approved leveraged crypto derivatives products for the Chicago Board Options Exchange (CBOE). According to a press release, the CFTC has given approval to Cboe Clear Digital to provide clearing services for digital asset futures on a margined basis. “The Commodity Futures Trading Commission today approved an amended order of registration for Cboe Clear Digital, LLC (Cboe Clear) to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organization (DCO) under the Commodity Exchange Act. The…

Coinbase Sued By SEC, Regulator Says Crypto Exchange Is Offering Unregistered Securities

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A day after suing Binance, the U.S. Securities and Exchange Commission (SEC) has targeted Coinbase in its latest offensive on the crypto industry. In a new press release, the SEC says it’s charging Coinbase for “operating as an unregistered securities exchange, broker, and clearing agency.” The regulator is also charging Coinbase for “failing to register the offer and sale of its crypto asset staking-as-a-service program.” In its 101-page complaint, the SEC says that the crypto assets offered on the  Coinbase Platform, Coinbase Prime, and Coinbase Wallet services are all “crypto…

US SEC Indicts Coinbase over Unregistered Exchange and Broker Platform

The new lawsuit against Coinbase is coming only a few hours after the SEC sued Binance for violation of the same US securities rules. American publicly listed crypto trading platform Coinbase Global Inc (NASDAQ: COIN) has come under the radar of the United States Securities and Exchange Commission (SEC) once again. This time around, Coinbase was indicted in a New York Federal Court earlier today for operating as an unregistered national securities exchange and broker according to the regulator. The lawsuit stated that Coinbase has been operating in this manner…

How to Build a Compliant Crypto Exchange After The SEC’s Coinbase Suit

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I am not going to bore you by quoting chapter and verse on broker-dealer registration requirements. I also won’t go into a detailed Howey analysis on many of the coins mentioned in the complaint – including Solana, ADA, Matic, Filecoin, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO. The important thing here is that the SEC is seeking, as a remedy, a permanent injunction against Coinbase from operating an unlicensed exchange. If they can get one of the tokens to stick and win at trial, they may be…