Bitcoin of America’s shutdown in Connecticut highlights the obstacles for companies operating crypto ATMs.
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SEC lawsuits against Binance and Coinbase unifies the crypto industry
Blockchain Association CEO Kristin Smith said that while the SEC’s approach to regulation is expected due to its anti-crypto stance, it’s still “unacceptable.“
SEC lawsuit against Binance stalls Gopax acquisition deal in South Korea
The FSC rejected Gopax’s executive change report filed on March 7 and claimed it was very difficult to accept the acquisition requests amid accusations of securities laws violations.
The Philippines delays publishing crypto framework
Despite the wave of market failures in 2022, the Philippines' financial regulator decided not to rush the legal framework on the crypto industry, earlier planned to be published late last year.
SEC lawsuit claims Binance.US, Changpeng Zhao put customer funds ‘at significant risk’
One of the latest SEC filings in its lawsuit against Binance says billions in customer funds are at the “mercy” of Binance CEO Changpeng Zhao.
El Salvador’s Bitcoin miner Volcano Energy launches with $250M investment
Volcano Energy said the funds would go toward developing a 241-megawatt power generation park.
US Financial Services Committee sets date to discuss future of crypto
The committee did not disclose all the specific topics for discussion, but the community anticipates that the hearing will address critical issues in the space.
Bitcoin OG keeps faith in bull market as BTC price bounces 8%
Bitcoin snaps back into its classic trading range, but BTC price has yet to reclaim a key level above $27,000.
Bitcoin OG keeps faith in bull market as BTC price bounces 8%
Bitcoin (BTC) swiftly erased its month-to-date losses into June 7 as volatility returned to ultimately favor the bulls.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewBTC price cancels Binance, Coinbase dip
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $27,388 on Bitstamp — almost a new June high.
The pair continued a rebound which had begun the day prior, with markets shaking off initial nerves from United States legal action over Binance and Coinbase.
In so doing, Bitcoin recovered all of its lost ground, returning to its previous trading range focused just below $27,000.
“Back to $27K. Great bounce from the 200-Week MA. Time to start the new uptrend to $38-42K on Bitcoin,” Michaël van de Poppe, founder and CEO of trading firm Eight, responded.
SEC's Gensler claims ‘parallels’ between Binance and FTX, yet one wasn't sued
“Every major player has been sued by the SEC except for FTX,” several members of the crypto community have noted.
Jack Dorsey courts controversy by claiming ETH is a security
Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development.
Jack Dorsey courts controversy by claiming ETH is a security
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Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH) was a security.
The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a “clown” in a tweet on June 6.
In response, Dorsey tweeted “ETH is not a security? Teach me wizard,” which prompted Wertheimer to share a five-year-old video of the United States Securities Exchange Commission (SEC) chair Gary Gensler stating that ETH was now “sufficiently decentralized” and wasn’t a security.
However, Gabor Gurbacs, strategy advisor to stablecoin issuer Tether and investment management firm VanEck weighed in on Wertheimer’s comment, stating that Ethereum’s recent transition to proof-of-stake may have re-triggered securities laws.
Jack Dorsey courts controversy by claiming ETH is a security
Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development.
SEC, Gensler-themed memecoins surge amid Binance and Coinbase lawsuits
Memecoins that draw their likeness from Gary Gensler and the SEC have rallied significantly since the regulator sued Binance and Coinbase.
SEC, Gensler-themed memecoins surge amid Binance and Coinbase lawsuits
A number of memecoins drawing their likeness from the United States Securities Exchange Commission (SEC) and its chair Gary Gensler have seen a sharp spike in price following the regulator's lawsuits against crypto exchanges Coinbase and Binance.
One such token is Good Gensler (GENSLR) which rallied more than 260% in the hours following the regulator's complaint against Coinbase for offering unregistered securities on June 6.
Good Gensler (GENSLR) weekly price chart. Source: CoinMarketCap.Good Gensler currently sports a total market capitalization of around $3.2 million. In the last 24 hours, the token has just over $1.25 million in trading volume. According to Etherscan data, Good Gensler was launched on April 19, some five days after the launch of fellow memecoin Pepe (PEPE).
Similarly, another Gensler-derived memecoin with the profanity-laden name Fuck Gary Gensler (FKGARY) also witnessed some upward momentum, rallying more than 530% in the last 48 hours according to data from decentralized exchange (DEX) screener DEXTools.
All-time price chart of FKGARY token. Source: DexTools.Gensler wasn’t the only target for memecoin enthusiasts. Another token featuring the ticker “SEC” — standing for “Stupid Egotistical Cocksuckers” — experienced some major volatility in the wake of the regulator's recent actions. The SEC token was launched on June 5 and in the following 24 hours rallied a staggering 15,530%.
Meta’s Zuckerberg grilled by senators over ‘leak’ of LLaMA AI model
The senators weren’t happy with the “seemingly minimal” protections to fight against fraud and cybercrime in Meta’s AI model.
SBF upset by criminal trial's late evidence while FTX seeks sale of AI stock
Over 3.6 million documents have yet to be produced by prosecutors in the criminal trial of Sam Bankman-Fried, according to his lawyers.
SEC lawsuits squeeze net worths of Coinbase and Binance CEOs
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The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have suffered heavy blows due to recent lawsuits by the United States securities regulator.
Armstrong’s net worth was slashed by $289 million and Zhao’s by $1.33 billion within a span of 30 hours after the Securities Exchange Commission (SEC) sued Binance on June 5 and then Coinbase on June 6, according to data from the Bloomberg Billionaires Index and Forbes.
Zhao — the richest man in the crypto industry and the 54th richest person overall — had his net worth fall 5.1% to $26 billion this week.
SEC lawsuits squeeze net worths of Coinbase and Binance CEOs
Brian Armstrong and CZ have seen respective net worth losses of 11.8% and 5.1% since the SEC sued Coinbase and Binance.
SEC crackdown on Binance and Coinbase surge DeFi trading volumes 444%
Total daily trading volumes on decentralized exchanges have surged by nearly $800 million over the past two days.