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Crisis Averted? 🕵️ Binance.US and SEC in Negotiations

In today's edition: 🧊 Binance.US looks to avoid asset freeze, ⌛ SEC will take 4 months, 🦄 Uniwap v4, 🙅‍♂️ CZ is not selling, and more!

June 14, 2023

What’s Poppin’?

A U.S. district judge referred the two parties to a magistrate judge to work out a compromise agreement.

The SEC sees no reason to “bind itself to a specific deadline” but said it would be in a position to respond to Coinbase’s rulemaking petition in four months.

The Binance chief refuted claims that the crypto exchange had manipulated the market to inflate the price of BNB.

Version 4 of the decentralized exchange will introduce customizable liquidity, improved architecture and gas savings.

On the Pod…

Daily Bits…✍️✍️✍️

  • 🏝️ The Bahamas Supreme Court granted FTX founder Sam Bankman-Fried permission to contest additional charges brought against him in the U.S., creating an additional delay in his extradition proceedings.

  • 💻 North Korean syndicate, Lazarus Group, siphoned over $100 million in a hack targeting Atomic Wallet, according to blockchain analytics firm Elliptic.

  • 🏦 Bittrex U.S., the American subsidiary of the bankrupt cryptocurrency exchange, was granted permission by a Delaware bankruptcy court to enable customer withdrawals starting Thursday.

  • 📉 Banq, a division of crypto custodian Prime Trust, declared bankruptcy in a Nevada district court, citing assets of around $17.72 million and liabilities of $5.4 million.

  • 🔍 Ripple demanded a new investigation into former SEC Division of Corporation Finance director, William Hinman, following the release of documents related to a controversial 2018 speech about cryptocurrency regulations. The documents also revealed that Hinman intended to discuss with Ethereum cofounder Vitalik Buterin to affirm his belief that ETH wasn't a security.

  • 💼 Bankrupt crypto lender Genesis submitted an updated reorganization plan amid ongoing negotiations concerning the funds it is owed by its parent company, Digital Currency Group (DCG).

  • 💵 The U.S. Treasury Department is evaluating privacy-enhancing technologies and methods to ensure transactional privacy in digital dollars, despite potential risks such as bank runs. 

  • 🔐 Crypto investment platform Finblox started offering returns on tokenized U.S. Treasury bills to investors who hold Circle’s USDC stablecoin, further integrating traditional finance and digital assets.

Today in Crypto Adoption...

  • 📈 The Financial Conduct Authority (FCA) of the UK approved crypto exchange Bitstamp and trading company Interactive Brokers, marking the first such approvals in six months.

  • 👟 Global brand Adidas is collaborating with digital artist Fewocious to launch the Adidas Originals Campus 00s sneakers, available through an NFT redemption pass.

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📈 Your Market Update 📉

  • BTC is down .6%, trading at $25,952

  • ETH is down .2%, trading at $1,746

  • BTC dominance: 45.78%

  • Crypto market cap: $1.1 trillion

*All data as of today, 6:00 am ET

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