According to Nigeria’s securities regulator, Binance is neither registered nor regulated in the country, making its operations illegal. It has been a tough week for cryptocurrency exchange Binance. On June 9, Nigeria’s securities authority reportedly deemed the exchange illegal, just days after Binance was sued by the U.S. Securities and Exchange Commission. “Binance Nigeria Limited…
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In an interview with Cointelegraph, Kevin O’Leary said he wouldn’t rule out the possibility of more serious charges against Binance and its CEO, Changpeng Zhao. Kevin O’Leary said the Securities and Exchange Commission levied some “serious” allegations in the 136-page charging document the agency issued against Binance on June 5, telling Cointelegraph in an interview…
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John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous, and inherently unsafe” and recommends investors exit all crypto exchanges. Former SEC Enforcement Chief…
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The top-100 DeFi tokens by market capitalization had a bearish week as the total value locked in these protocols fell below $50 billion again. 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 United States…
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Binance US has informed its users that U.S. dollar deposits have been suspended and USD withdrawals will no longer be processed. The crypto exchange has asked customers to withdraw dollars by June 13 as it transitions into a crypto-only trading platform. The move followed a lawsuit against the crypto exchange and several other Binance entities…
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The SEC’s charges against Binance and Coinbase could have far-reaching consequences for decentralized finance. 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…
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Along with the recent wave of lawsuits, this week’s Crypto Biz also explores Apple’s new headset, Brazil’s Mercado Bitcoin payments arm and how regulators are targeting AI-generated fake news. 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…
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The company cited the SEC’s actions against Coinbase and Binance as reasons for the delisting, saying the lawsuits “introduced a cloud of uncertainty” around the tokens. Cryptocurrency and stock trading app Robinhood announced it will be ending support for Cardano, Polygon and Solana — all tokens labeled as unregistered securities by the United States Securities and…
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Fintech and crypto firm Robinhood has announced the delisting of cardano (ADA), solana (SOL), and polygon (MATIC) on June 27, 2023. This development comes after the publicly-listed company revealed that it was “actively reviewing” its coin listings in the wake of recent U.S. Securities and Exchange Commission (SEC) enforcement actions against Binance and Coinbase. Robinhood…
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The Binance CEO is rumored to be in Dubai, but with no known base of operations, the SEC wants permission to serve his lawyers on his behalf. The United States Securities and Exchange Commission (SEC) is seeking ‘alternative service’ from the U.S. District Court in Washington, D.C., to issue a legal summons to Changpeng Zhao,…
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