The global cryptocurrency exchange cites limited demand for institutional-grade services under current market conditions. Source: https://cointelegraph.com/app/public/index.php/news/crypto-com-suspends-us-institutional-exchange-service
Month: June 2023
Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC
A U.S. District Judge has entered a default judgment order that requires Decentralized Organization Ooki DAO to permanently shut down and pay a civil monetary penalty of $643,542. Today the CFTC’s Division of Enforcement Director Ian McGinley released a statement on the Ooki DAO litigation victory. Learn more: https://t.co/MInNeKLeH5 — CFTC (@CFTC) June 9, 2023 The Commodity Futures Trading Commission…
Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts
Over the past few weeks, a group of scammers has hijacked more than eight Twitter accounts belonging to prominent figures in the crypto space to promote phishing scams. The group has stolen almost $1 million worth of crypto so far, according to blockchain sleuth ZachXBT. In a June 9 Twitter thread, ZachXBT outlined that he had uncovered several wallets “linked…
Breaking: Binance.US suspends USD deposits, warns of fiat withdrawal pause
Binance.US said the moves are part of efforts to protect customers and the platform amid “extremely aggressive and intimidating tactics” by the SEC. Source: https://cointelegraph.com/public/index.php/news/binance-us-suspends-usd-deposits-warns-withdrawal-pause-incoming
SEC charges against Binance and Coinbase are terrible for DeFi
The allegations against Binance and Coinbase by the U.S. Securities and Exchange Commission have substantial ramifications for the decentralized finance (DeFi) ecosystem, and they are far from positive. DeFi has developed as a promising area within the crypto industry, aiming to disrupt established financial systems and deliver financial services in a decentralized manner. However, the latest charges against these centralized…
Crypto.com suspends US institutional exchange service
The global cryptocurrency exchange cites limited demand for institutional-grade services under current market conditions. Source: https://cointelegraph.com/public/index.php/news/crypto-com-suspends-us-institutional-exchange-service
‘Toxic Cocktail’: EU Watchdog Calls Out Instagram, TikTok for Enabling Crypto Scams
Scammers are using social media to push cryptocurrency rackets? Tell us something we didn’t already know. Even so, the European Consumer Organization (BEUC) and nine of its member organizations have issued a stark warning to European authorities about the misleading promotion of cryptocurrency on leading social media platforms. Beginning with a Dogecoin meme, the watchdog group’s 20-page report categorically slams…
Robinhood will end support for 3 tokens named in SEC lawsuits
Cryptocurrency and stock trading app Robinhood announced it will be ending support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) — all tokens labeled as unregistered securities in the United States Securities and Exchange Commission’s recent legal actions against crypto exchanges Binance and Coinbase. In a June 9 update, Robinhood said it will end support for the three tokens starting…
Generative AI Will Have ‘Enormous Impact’ on Business, Execs Admit—But Not Right Away
As generative AI carves out its niche in the technological realm, it’s garnering mixed sentiments from business leaders ranging from optimism to apprehension—as revealed in a recent survey conducted by business consultancy KPMG U.S. While a majority of executives anticipate significant AI-driven shifts in business, with KPMG summarizing their view as expecting an “enormous impact” across industries, their readiness for…
The SEC’s summer crackdown, Apple’s ‘spatial computing,’ and Mercado Bitcoin gears up
After a period of relative calm, the United States Securities and Exchange Commission (SEC) kicked off its summer crypto crackdown by targeting two major exchanges, Binance and Coinbase. A total of 13 charges have been filed against Binance. One of the allegations in the suit claims that funds from Binance and Binance.US were commingled into an account controlled by the…