Former FTX CEO Sam Bankman-Fried claims prosecutors have missed discovery deadlines for key pieces of evidence required in the defense of a raft of fraud charges. On June 5, Bankman-Fried’s lawyers told United States District Judge Lewis A. Kaplan in a letter that the government had not turned over all of the contents of five…
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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…
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The median trading volume across the top three decentralized exchanges (DEX) jumped 444% in the past 48 hours as crypto investors reeled from the United States securities regulator’s recent legal actions against cryptocurrency exchanges Coinbase and Binance. According to aggregated data from CoinGecko, total daily trading volumes on Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum) and…
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“Coinbase has embraced regulation since we were founded over a decade ago,” the cryptocurrency exchange’s chief legal officer, Paul Grewal, told the United States Congress on June 6. “The SEC [Securities and Exchange Commission] allowed us to become a public company in April 2021, which makes us unique in the crypto industry.” Coinbase was sued by…
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The United States Securities and Exchange Commission (SEC) filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6, requesting eight actions. The requested actions include the freezing of the assets of Binance.US and the repatriation of fiat and cryptocurrency…
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Coinbase CEO Brian Armstrong has responded publicly to the United States Securities and Exchange Commission (SEC) lawsuit against his company, stating in a tweet that the team is “confident in our facts and the law” and that it welcomes the chance “to finally get some clarity around crypto rules” in court. Regarding the SEC complaint…
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On-chain analytics firm Glassnode published a report hinting that investors are rotating capital toward risk-off assets like stablecoins and Bitcoin. Technicals show that altcoins are at a crucial turning point between a positive and a negative breakout. Glassnode’s analysis of Uniswap and futures trading volumes reveals that the uptrend that began in the first quarter…
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If there was ever such a thing as an all-star lineup of regulators, the United States House of Representatives Agricultural Committee’s June 6 hearing on digital asset regulation would probably hold the record. The current chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, was joined by a former chair and a former acting…
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Venture capital firm Sequoia announced an impending split that will see the company break into three distinct partnerships serving the United States, China, and Asian markets separately. The move, announced on June 6, is intended to decentralize back office functions for the company. Citing increased global financial complexity and a growing brand confusion, per a…
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Bitcoin (BTC) recovered some of its lost ground after the June 6 Wall Street open despite new legal action from United States regulators. BTC/USD 1-day candle chart on Bitstamp. Source: TradingView Analyst sees Coinbase news marking BTC price low Data from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC/USD, which reached $26,250 on…
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