The U.S. Securities and Exchange Commission (SEC) filed a reply to support its motion to compel Binance Holdings Limited to comply with expedited discovery related to customer assets. The reply comes after months of alleged delays and incomplete responses from Binance as it fights a lawsuit alleging it violated federal securities laws. SEC Seeks Court-Ordered…
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Crypto exchanges HTX (formerly Huobi) and OKX have seen their traffic surging 200% and 185% YTD, respectively. Cryptocurrencies like Bitcoin (BTC) have been widely described as going through a bear market in 2023, but this may not exactly be the case, according to indicators such as the website traffic of certain crypto platforms. Some major…
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The proposals included stricter standards on risk assessments for crypto firms as well as a framework for designating token projects to the NYDFS’ greenlist The New York State Department of Financial Services, or NYDFS, has called on the public to provide feedback to a proposal aiming to strengthen regulatory requirements for crypto firms operating in…
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Malta has joined France and other EU nations in revising its existing crypto regulatory policies to align with MiCA, which comes into effect in December 2024. Malta’s Financial Services Authority (MFSA) has begun public consultation over changes in its crypto regulations in order to align with Europe’s Markets in Crypto-Assets (MICA) regulations set to take…
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The stablecoin economy has remained relatively lackluster over the past 30 days, fluctuating slightly above or slightly below the $124 billion range. In the last 24 hours, the global trade volume for fiat and commodity-pegged tokens has reached $11.55 billion. Stablecoin Market Shows Resilience Amidst Volume Stagnation and Redemptions As of September 17, 2023, coingecko.com…
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The portal allowing FTX customers to file claims with the bankrupt cryptocurrency exchange is again fully operational after a recent security incident. User accounts that were affected by the breach in August have been unfrozen, the failed crypto trading company announced. Crypto Exchange FTX Ups Security on Claims Portal Following Kroll Incident The FTX claims…
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Hackers have apparently compromised a wallet belonging to billionaire investor Mark Cuban, stealing a number of cryptocurrencies. The owner of the Dallas Mavericks NBA team, who confirmed the breach, has been able to transfer the remaining digital funds to U.S. crypto exchange Coinbase. Mark Cuban’s Metamask Wallet Drained by Hackers Cryptocurrency worth hundreds of thousands…
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Two more managers at Binance US are reportedly quitting amid another round of layoffs at the troubled cryptocurrency exchange. The departures come while Binance’s U.S. trading platform for digital assets is still under heightened regulatory pressure that has damaged its business. Binance US Legal and Risk Executives Depart as Crypto Trading Firm Cuts More Jobs…
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Marcel Pechman explains the myth of excess cash in U.S. households and the lack of sufficient savings, and how a U.S. government shutdown could impact Bitcoin. On the latest episode of Macro Markets, analyst Marcel Pechman examines the current state of the American economy. He references a headline from Barron’s that highlights the disparity between…
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Coinbase’s CEO has become the latest ally of the DeFi space, calling for apt regulations of the ecosystem rather than enforcement action by regulatory bodies. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past…
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