SEC or CFTC? The Judge Shall Determine 🤯

In today's edition: 🎙️ New Episode on the Binance lawsuit, 😇 SBF's plead, 🚫 Do Kwon's imprisonment, and more!

March 31, 2023

From our sponsor

Unchained Daily is brought to you by ICON.

Bringing next-gen interoperability to multiple cross-chain protocols.

What are ICON's BTP and xCall service?

New Show Today!

Austin Campbell, a professor at Columbia Business School, discusses the recent allegations made by the CFTC against Binance.

Show highlights:

  • whether Binance and its employees will face criminal charges

  • how regulators got so many details and so much information from CZ's phone

  • whether CZ is personally liable and whether the US could extradite him 

  • how the CFTC used the complaint to state that BTC, LTC, ETH, and some stablecoins are commodities

  • why Austin believes Coinbase would be the "single biggest winner" if Binance U.S. is shut down

  • how this case is going to help determine which agency has jurisdiction to regulate crypto assets

What’s Poppin’?

by Samyuktha Sriram

Terraform Labs founder Do Kwon could spend at least a year in a crowded Montenegrin prison cell, according to a criminal prosecutor.

Sam Bankman-Fried’s lawyers plan to contest additional charges on the grounds that they were not filed before his extradition from the Bahamas to the U.S.

OKX has agreed to turn over millions of dollars-worth of crypto tied to FTX and Alameda accounts in response to a motion filed by the crypto exchange’s bankruptcy estate.

Binance CEO CZ said that the exchange froze an account that had allegedly been front-running altcoin listings for several months.

Daily Bits…✍️✍️✍️

  • Former Binance U.S. CEO Catherine Coley reportedly hired Sullivan & Cromwell partner and former federal prosecutor James McDonald to advise her in the Commodities Futures Trading Commission’s lawsuit against Binance.

  • Justin Sun, the founder of the Tron blockchain, reportedly lost his diplomatic status as an ambassador for Grenada after the political party that granted him the title was ousted from power.

  • The UK Treasury and Home Office published their three-year Economic Crime Plan, outlining plans to tightly regulate crypto money laundering and corruption to boost the UK's reputation as a destination for crypto assets and innovation.

  • The Solana-based NFT marketplace, Magic Eden, became a dominant player in the market of Bitcoin Ordinals, accounting for over half of the trading volume across marketplaces in just over a week.

  • Zipmex, a Thai cryptocurrency exchange, had its restructuring plan approved by the Singapore High Court.

  • Matt Damon revealed that he appeared in the 2021 Crypto.com (disclaimer: sponsor of Unchained) ad to raise money for water.org, a clean water project he co-founded with philanthropist Gary White.

Today in Crypto Adoption...

  • Citi researchers predict that the market for tokenized securities could grow to $4 trillion by 2030, stating that blockchain technology is approaching a turning point and tokenization could be the "killer use-case" to drive its breakthrough.

  • UNICEF is exploring the creation of a decentralized autonomous organization (DAO) to facilitate communication and funding for digital public goods projects.

The $$$ Corner…

  • Hardware wallet manufacturer Ledger raised most of its $109 million funding round, maintaining the same valuation of $1.4 billion as its previous funding round in June 2021, according to the company.

Consider blockchains as separate nations. For a prosperous global economy, there must be trade of goods, money, and information among them, facilitated by blockchain bridges. Read on for a comprehensive overview.

What Do You Meme?

Advertise With Unchained 📡

Check out advertising opportunities on all of Unchained’s properties, which range from running a classified ad in the newsletter to sponsoring our videos to having a host-read ad in the podcast.

📈 Your Market Update 📉

  • BTC is down 2.46%, trading at $28,088

  • ETH is down .04%, trading at $1,812

  • BTC dominance: 45.94%

  • Crypto market cap: $1.18 trillion

*All data as of today, 6 am ET

Recommended Reads

  1. Adam Cochran on why the current banking crisis is exactly like a stable lending protocol in jeopardy:

  2. Bloomberg: Banks Warier of Serving Crypto Clients After Blowups, Scrutiny

  3. CoinDesk Editorial: It Sure Looks Like the U.S. Is Trying to Kill Crypto

⛓️ Join Unchained Premium to get access to:

  • 🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.

  • 💬 A subscriber-only Telegram group, where you can talk with the other members of the Unchained community, build a network in crypto, and talk directly with me and the Unchained team!

  • 📰 Transcripts of all the shows, for subscribers only.

If You Like What You Read: