Binance.US Shakeup: 🔪 CEO & 100 Staff Members 🔪

Also today: 🚨 CoinEx suffers $27 million loss, 🏁 Franklin Templeton joins the fray, 🔄 FTX revises strategy, and more!

September 13, 2023

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What’s Poppin’?

The crypto exchange has cut a third of its staff and its CEO has departed amid scrutiny from U.S. regulators.

On-chain sleuths estimate crypto exchange CoinEX hot wallets have been drained of $27 million worth of crypto in a suspected hack.

Lawyers overseeing FTX’s bankruptcy proceedings said it would notify the U.S. Trustee on weekly increases in its planned sale of crypto.

Franklin Templeton enters the arena with BlackRock, Fidelity and others in the spot bitcoin ETF race.

On the Pod…

USDC issuer Circle has had a hectic year, introducing new products and forming partnerships amid a crypto banking crisis and increasing global regulatory changes, including a progressing U.S. bill.

Circle's CEO, Jeremy Allaire, discusses Coinbase's investment in Circle, the company's resilience post-crisis, his opinions on PYUSD and the ongoing U.S. stablecoin legislation, and predictions for the stablecoin bill.

Daily Bits…✍️✍️✍️

  • 👨‍⚖️ OneCoin cofounder, Karl Sebastian Greenwood, received a 20-year prison sentence and a $300 million fine for defrauding millions through a crypto scheme.

  • 📰 Nasdaq filed with the SEC to list a Hashdex Ethereum ETF which includes both spot ether and futures contracts, managed by Toroso Investments.

  • 🔍 Crypto exchange Bullish and Tribe Capital are among the entities bidding to acquire the bankrupt FTX.

  • ⚖ Sam Bankman-Fried's attorneys seek juror opinions on crypto and effective altruism ahead of his October criminal trial.

  • 📊 SEC Chair Gary Gensler stated that the agency is currently reviewing the court's recent ruling in the Grayscale case and evaluating several bitcoin ETF applications.

  • 🌍 Ripple intends to conduct 80% of its recruitment outside the U.S. this year, focusing on regions with clearer regulatory frameworks, CEO Brad Garlinghouse disclosed.

  • 📉 Craig Wright faces civil sanctions over incomplete financial disclosures in a $143M case, as a U.S. court in Florida refrained from imposing criminal charges.

  • 🔐 HSBC is collaborating with crypto custody technology firm Fireblocks, which is known for its expertise in crypto safekeeping technologies including multi-party computation (MPC).

  • 📉 A sudden fluctuation in crypto prices triggered $256 million in liquidation losses over two days, with a significant portion being leveraged long positions, as per Coinglass data.

Today in Crypto Adoption...

  • 🦊 Ethereum developer Consensys introduced "MetaMask Snaps,” a feature enabling users to integrate third-party developed functionalities directly into their MetaMask wallet.

  • 📲 Telegram integrated TON Space wallet, soon available globally excluding the U.S. and a few other countries, enhancing the TON Foundation's mission.

The $$$ Corner…

  • 💰 Electric Capital is endeavoring to amass $300 million for its third investment fund, according to SEC filings, with a one-year offering window.

What Do You Meme?

Recommended Reads

📈 Your Market Update 📉

  • BTC is down .1%, trading at $26,133

  • ETH is down .7%, trading at $1,599

  • BTC dominance: 47.21%

  • Crypto market cap: $1.08 trillion

*All data as of today, 7:10 am ET

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