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Asset Freeze to Halt Binance US Operations, Exchange Says, Seeks Rejection of SEC Request
13.6.2023
Crypto exchange Binance US has urged a federal judge to reject a request by the U.S. securities regulator to freeze its assets. The company won’t be able to maintain the trading platform or pay employees and vendors, defense attorneys said in a court filing. ‘No Need for the Draconian Relief Sought...
Coinbase CEO Brian Armstrong: The SEC Told Us ‘Everything Other Than Bitcoin Is a Security’
13.6.2023
Brian Armstrong, CEO of Coinbase, the largest U.S.-based cryptocurrency exchange, explained how negotiations reached a standstill with the U.S. Securities and Exchange Commission (SEC). In a recent interview with the Wall Street Journal, Armstrong detailed the changes in how the SEC approached...
Republican Congressman Seeks to Oust SEC Chair Gensler With SEC Stabilization Act
13.6.2023
Warren Davidson, the Republican congressman who first introduced the legislation in mid-April, has filed the SEC Stabilization Act to remove Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC). Davidson insists the act aims to safeguard U.S. capital markets...
Former SEC Official Predicts Impending DOJ Indictment Against Binance
12.6.2023
Former Securities and Exchange Commission (SEC) official John Reed Stark said on Sunday via Twitter that he believes the U.S. Department of Justice (DOJ) has filed or will file a criminal indictment related to Binance. Stark, who draws from his experience in the SEC Enforcement Division, pointed...
Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals
12.6.2023
People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote....
SEC Lawsuits Fuel Bitcoin and Ethereum Exodus From Exchanges: Nearly $1 Billion Withdrawn in 7 Days
11.6.2023
It has been six days since Binance faced a lawsuit from the U.S. Securities and Exchange Commission (SEC), and five days since Coinbase encountered a similar legal challenge. In the wake of these events, a substantial amount of bitcoin and ethereum has been withdrawn from exchanges, with data...
Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’
11.6.2023
Jim Rickards, an economist and the author of “Currency Wars,” has predicted the unveiling of a new BRICS currency, stating that it “could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency.” Emphasizing that...
Russian Banker Predicts End of Dollar Dominance as Global Power Shifts
11.6.2023
Russia’s second-largest bank’s chairman has predicted the end of U.S. dollar dominance. He believes that the Chinese yuan will replace the U.S. dollar as the dominant currency. “I think that the time has come when China will gradually remove currency restrictions,” he noted, adding that...
Economist Peter Schiff Says the Fed Destroyed US Banking System — ‘It’s Insolvent’
11.6.2023
Economist Peter Schiff says the U.S. banking system is insolvent. He stressed that the Federal Reserve destroyed the U.S. banking system, citing near-zero interest rates at banks while “the Fed funds rate is 5.25% and the real inflation rate is much higher.” Schiff previously warned...
Bitcoin, Ethereum Technical Analysis: BTC Falls Below $26,000, as Traders Digest SEC’s Crypto Crackdown
10.6.2023
Bitcoin moved below the $26,000 level to start the weekend, as bearish pressure intensified following a week of turbulence. Sentiment in the market once again shifted, as traders liquidated their positions on the back of the U.S. Securities and Exchange Commission’s (SEC) crackdown...
Founder of SEC Office of Internet Enforcement Warns of Upcoming Regulatory Siege: ‘Get Out of Crypto Platforms Now’
10.6.2023
John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous,...
Two Russians Charged for Infiltrating Mt Gox and Operating Illicit Crypto Exchange, BTC-e
9.6.2023
In a statement issued on Friday, the U.S. Department of Justice (DOJ) revealed that two Russian individuals have been accused of infiltrating a cryptocurrency exchange and running an unlawful exchange. Reportedly, the pair gained unauthorized access to Mt Gox’s servers from 2011 to 2014...
IMF Urges Fed to Maintain Tightening Policy Amid Inflation Concerns, Citing ‘Challenges’ Ahead
9.6.2023
On Thursday, International Monetary Fund (IMF) spokesperson Julie Kozack urged the U.S. Federal Reserve and several other central banks to maintain a restrictive monetary policy known as tightening. Kozack stated that the U.S. central bank may need to keep the federal funds rate higher “for...
Ripple CEO Brad Garlinghouse: ‘The SEC Is Throwing Lawsuits at the Wall’
9.6.2023
Brad Garlinghouse, the CEO of Ripple, has criticized the crypto “pro-innovation” stance of the U.S. Securities and Exchange Commission (SEC) and its recent lawsuits against significant exchanges like Coinbase and Binance. Garlinghouse stated that the SEC was “throwing lawsuits...
Bitcoin Advocate Nic Carter Accuses ‘Laser-Eyed Maxis’ of Turning Bitcoin Into a ‘Secular Cult’
9.6.2023
In a tweet this week, crypto advocate Nic Carter took aim at those who claim to be bitcoin enthusiasts but have been applauding the U.S. Securities and Exchange Commission’s (SEC) enforcement actions. Carter accused these individuals of turning Bitcoin into a “secular cult”...
Lawmaker Calls SEC Enforcement Actions Against Crypto Exchanges ‘Complete Contempt for Congress’
9.6.2023
Several lawmakers have slammed the U.S. Securities and Exchange Commission (SEC) for regulating the crypto industry by enforcement. One lawmaker says the regulator’s latest action against crypto exchange Coinbase “demonstrates a complete contempt for Congress which is in the process of developing...
Ethereum Staked on Coinbase Sees Massive Redemptions, Over 27,000 Tokens Redeemed on June 6
8.6.2023
Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering...
‘De-Dollarization Emerging’ but Greenback Will Retain Its Dominance — JP Morgan Strategists
8.6.2023
Two JP Morgan strategists have said the U.S. dollar will retain its dominant position even as it is being challenged by alternative currencies such as the Chinese yuan. According to a report, the yuan currently accounts for just 7% of global foreign exchange trade volumes while the greenback...
SEC Actions in US May Affect Binance in Other Regions, Hong Kong Lawyer Says
8.6.2023
The crackdown initiated by the U.S. Securities and Exchange Commission (SEC) may affect Binance in other regions and its license application in Hong Kong, according to a crypto-compliance lawyer. The expert believes the regulator wants the largest digital asset exchange to leave the United States....
Coinbase CEO Responds to SEC Lawsuit Accusing Crypto Exchange of Securities Law Violations
8.6.2023
Coinbase CEO Brian Armstrong has responded to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against his cryptocurrency exchange. The securities regulator charged Coinbase with “operating its crypto asset trading platform as an unregistered national securities...