The world’s biggest cryptocurrency company has hired a high-powered legal team to battle the U.S. Securities and Exchange Commission—including contracting an ex-SEC lawyer. According to a document filed today, Binance US, which the SEC targeted last week with 13 civil charges, has hired George Canellos, who served as co-director of the SEC’s Division of Enforcement. In its lawsuit last week,…
The United Nations has sounded the alarm over AI-generated deepfakes being used to spread hate and misinformation on social media. In a report released Monday, “Information Integrity on Digital Platforms,” the global organization underscored the need for responsible AI use. “While holding almost unimaginable potential to address global challenges, there are serious and urgent concerns about the equally powerful potential…
Members of the United States House of Representatives are pushing for ways to remove Securities and Exchange Commission (SEC) Chair Gary Gensler from his position, but the legality may be more complicated than a single piece of legislation. On June 12, Ohio Rep. Warren Davidson introduced the SEC Stabilization Act with the expressed intention of firing Gensler. The SEC chair…
Bitcoin’s on-chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high. According to on-chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to exchanges.” Glassnode data shows Bitcoin…
Artificial Intelligence has been a game changer in numerous fields, from healthcare to retail to entertainment and art. Yet, new research suggests that we might have reached a tipping point: AI learning from AI-generated content. This AI ouroboros—a serpent eating its own tail—could end quite badly. A research group from different universities in the UK has issued a warning about…
The Bank of Thailand will launch a retail central bank digital currency (CBDC) pilot project in a regulatory sandbox this month. Three payment providers will take part, according to local media. The project will involve up to 10,000 users and run through August. Bank of Ayudhya (Krungsri), Siam Commercial Bank and Singapore-based payments service provider 2C2P will partner with the…
Following Binance and sister company Binance US’s troubles with American regulators, investors are pulling out. Data from crypto data firm Kaiko shows that market depth on the US sister exchange has plunged by nearly 80% since the U.S. Securities and Exchange Commission’s lawsuit last week. The SEC last Monday named both Binance and its US-based sister company in a lawsuit…
“U.S. capital markets must be protected from a tyrannical Chairman, including the current one,” Rep. Warren Davidson wrote in reference to SEC head Gary Gensler… Source: https://cointelegraph.com/public/index.php/news/breaking-us-lawmakers-file-sec-stabilization-act-to-fire-gary-gensler
On June 12, Bank of China’s investment bank subsidiary BOCI announced the issuance of 200 million Chinese Yuan ($28 million) worth of digital structured notes minted on the Ethereum blockchain. The move makes the BOCI the first Chinese financial institution to issue a tokenized security in Hong Kong. Investment banking company UBS helped originate the product for placement to its…
Binance halted trades across several Binance Coin (BNB) and Ethereum (ETH) token pairs in the latest shake-up since the company was sued by the Securities and Exchange Commission last week. On Monday, the company said that it ended trading for more than a dozen pairs that involve its native BNB token, the defunct Binance USD (BUSD) stablecoin, and five involving…
