Former SEC enforcement co-director George Canellos reportedly joins the Binance.US legal team as the firm faces challenges to keep its assets unfrozen. United States-based crypto exchange Binance.US has reportedly hired a former enforcement official for the U.S. Securities and Exchange Commission (SEC) as part of the legal team to defend itself against allegations of operating…
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In the aftermath of the US Securities and Exchange Commission’s crackdown on major crypto exchanges Binance and Coinbase, Latin America’s crypto holders have reacted to this development with a surge of new accounts registered with Bitget, a crypto derivatives exchanges. The American regulator filed lawsuits against both Binance, the globe’s largest cryptocurrency exchange, and Coinbase, the…
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The price of Cardano lost 30% over the past week as it was delisted from popular trading platforms like Robinhood. Cardano (ADA) bounced modestly after nosediving nearly 30% in the last week, its worst seven-day performance since May 2021, when the Terra collapse sparked a cryptocurrency market crash. Nonetheless, ADA looks ready to undergo a…
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Data analytics platforms have reported billions of dollars in outflows from Binance over the last week, but this can be misinterpreted, argues Changpeng Zhao. While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as…
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Former Securities and Exchange Commission (SEC) official John Reed Stark said on Sunday via Twitter that he believes the U.S. Department of Justice (DOJ) has filed or will file a criminal indictment related to Binance. Stark, who draws from his experience in the SEC Enforcement Division, pointed to various indicators suggesting potential criminal charges in…
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Jay Clayton, former U.S. Securities and Exchange Commission (SEC) chairman, gave his opinion about how the organization approaches enforcement in the crypto space. In a Bloomberg Invest panel, Clayton stated that while he supports the agency and the law, the crypto regulation issue should be treated with nuance. Former SEC Chairman Jay Clayton Calls for…
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Binance, the world’s largest cryptocurrency exchange by trading volume, has been ordered to cease operations in Nigeria by the country’s Securities and Exchange Commission (SEC). In a recent statement, the regulator declared the operations of Binance “illegal” in the West African nation, stating that the cryptocurrency exchange was neither registered nor regulated by the commission. … Read…
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It has been six days since Binance faced a lawsuit from the U.S. Securities and Exchange Commission (SEC), and five days since Coinbase encountered a similar legal challenge. In the wake of these events, a substantial amount of bitcoin and ethereum has been withdrawn from exchanges, with data revealing that nearly $996 million worth of…
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The number of Bitget users in Latin America increased by 43% from June 6 to June 9, along with a 134% increase in deposits. Crypto exchange Bitget has seen a surge in new accounts in Latin America following lawsuits by United States regulators against major competitors Binance and Coinbase. As compared to daily averages, new…
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Rachel Conlan, the new VP of marketing at Binance, says that “critical” times in the industry call for major companies to emphasize community, clarity and simplicity. The crypto industry faced more scrutiny from regulators in the United States this past week, as the U.S. Securities and Exchange Commission served both Coinbase and Binance.US with lawsuits…
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