Binance, the leading cryptocurrency exchange, has recently made a bold move in its legal battle against the U.S. Commodity Futures Trading Commission (CFTC). In a court filing on July 27, Binance sought to dismiss the charges filed by the CFTC and its CEO, Changpeng Zhao, arguing that the financial regulator acted outside its powers. According
In a recent interview with BBTV, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler highlighted his growing concerns about the cryptocurrency sector. While acknowledging that there are reputable players in the industry, he emphasized that the sector is “rife with fraud” and lacks sufficient investor protections. Gensler cited the speculative nature of the crypto
Cryptocurrency investments often rely on speculative hope for future price increases rather than intrinsic values. This approach, known as the “Castle in the Air Theory,” is based on investors building hypothetical scenarios. Economist John Maynard Keynes introduced this concept, which has become prevalent in the world of meme coins. However, the question arises, how can
Wyoming, a crypto-friendly state in the US, is looking to hire an executive director for its new stablecoin project. The position offers an annual salary of $150,000, which is higher than the state governor’s salary. The executive director will oversee the Wyoming Stable Token Commission, which was established after the passing of the Wyoming Stable
The proliferation of cryptocurrencies has fundamentally changed the way we conduct business transactions, and companies across various sectors are continuously seeking innovative solutions to enhance customer satisfaction and operational efficiency. While cryptocurrencies have traditionally been associated with consumer-focused sectors, the potential advantages of incorporating crypto payment methods for all companies should not be underestimated. Colibri
Ripple’s recent legal victory against the U.S. Securities and Exchange Commission (SEC) has significant implications for other ongoing cases in the crypto industry. Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), discussed in a TechCrunch podcast episode how this ruling could impact the SEC’s cases against Coinbase and Binance. In his analysis, Alderoty highlighted the importance
The U.S. Accountability Office (GAO) has issued a report titled “Blockchain in Finance,” highlighting the significant regulatory gaps in the crypto industry. The report emphasizes the need for a government-wide approach to address these gaps in order to prevent them from becoming a risk to financial stability. While blockchain technology offers benefits like cheaper and
The crypto market has been through ups and downs in recent years, with the peak in late 2021 followed by a period of uncertainty and regulatory scrutiny. However, Binance’s Half-Year Report 2023 highlights the industry’s resilience, showcasing positive growth in market capitalization on various timeframes. Despite facing challenges, the crypto market has seen notable developments
Charlie Shrem, the founder of the now-defunct Bitcoin exchange Bitshrem, has undergone a significant transformation in his career after being imprisoned for crypto violations eight years ago. Shrem is now a general partner at Druid Ventures, a prominent early-stage crypto venture capital firm that specializes in providing growth and strategic advisory services. Instead of being
The decision by the Nasdaq stock exchange to shelve its plans for a crypto custody service has triggered a wave of reevaluation among other US financial institutions. Citigroup, a major investment bank, is now rethinking its approach to crypto, while State Street, a prominent asset manager, has terminated its deal with a London-based crypto custody