Coinbase shares have been deemed “uninvestable” in the short term due to the ongoing lawsuit filed by the Securities and Exchange Commission (SEC), according to a research report by Berenberg Capital. The report notes that the expected decline in second-quarter trading volumes on Coinbase had already been anticipated prior to the lawsuit. However, the legal
Blockchain
The United States Securities and Exchange Commission (SEC) is struggling to locate Binance and its CEO, Changpeng Zhao (CZ), to serve legal papers. The regulator filed a legal document with the District Court in the District of Columbia on Thursday, stating that neither Binance nor its executive is known for revealing the premise of a
Circle, the US-based company behind the stablecoin USDC, has appointed Heath Tarbert, the former Commodity Futures Trading Commission (CFTC) chair, as its new Chief Legal Officer. Tarbert will officially join Circle in July, and his role will involve building a bridge between traditional finance (TradFi) and web3. Pushing for Regulatory Clarity Circle aims to push
The US Department of Justice has unsealed charges against Russian nationals Alexey Bilyuchenko and Aleksandr Verner for allegedly stealing thousands of bitcoins from the Mt. Gox crypto exchange between 2011 and 2014. The two individuals were charged in the Southern District of New York “with conspiring to launder approximately 647,000 bitcoins,” which the department claimed
The House Financial Services Committee has released a new version of its stablecoin bill, aimed at regulating payment stablecoins. The bill is a discussion draft that would allow state regulators to supervise stablecoin issuers, with federal regulators playing a primary role by issuing capital and liquidity requirements. The new version includes additional parts such as
Lens Protocol, the social layer for web3 developed by Aave, has raised $15 million in funding. The funding round was led by IDEO CoLab Ventures, with other venture capital firms including General Catalyst, Variant, Blockchain Capital, and Palm Tree also participating. Angel investors such as Hayden Adams, Alex Atallah, and Balaji Srinivasa also funded the
In a landmark ruling, a US district judge has favored the US Commodity Futures Trading Commission (CFTC) in its litigation against Ooki DAO for running an illegal trading platform and failing to comply with the Bank Secrecy Act. The CFTC charged Ooki DAO in late 2022 with operating an illegal trading platform, registration violations and
Luxembourg, a small country in Western Europe, has initiated a market study on Web3 and blockchain-based firms. The study aims to explore the relationship between blockchain-based products and services and existing digital companies (Web2 firms). The regulator, Autorité de la Concurrence, recognizes the potential of blockchain technology in the future economy and wants to ensure
Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has criticized the cryptocurrency industry for its lack of compliance. Speaking at the Piper Sandler Global Exchange & Fintech Conference on Thursday, Gensler argued that crypto exchanges can register with the agency, despite platforms’ claims that they have tried to do so. He stated
Rostin Behnam, Chair of the US Commodity Futures Trading Commission (CFTC), has refuted claims that his agency would be a “light touch regulator” for cryptocurrency. Speaking at a House Agriculture Committee hearing, Behnam was asked about opinions that the CFTC is seen as taking a lighter touch when it comes to regulating the crypto industry.