Crypto

  • US court approves settlement against Binance, firm to pay $2.7B to CFTC

    A United States court has entered an order against crypto exchange Binance and its former CEO, Changpeng “CZ” Zhao, that will see Binance pay $2.7 billion and CZ pay $150 million to the Commodity Futures Trading Commission (CFTC). In a Dec. 18 statement, the CFTC announced that the U.S. District Court for the Northern District of Illinois had approved the…

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  • Zcash founder Zooko Wilcox steps down from Electric Coin, naming new CEO

    Zooko Wilcox is stepping down as the CEO of Electric Coin Company, the team behind privacy-focused cryptocurrency Zcash (ZEC). ECC announced a change in leadership on Monday, with Josh Swihart promoted to replace Wilcox. Picture of Wilcox speaking about the history of privacy on the internet. Source: ECC Swihart previously worked at ECC as one of the firm’s vice presidents…

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  • A closer look at Unstoppable Domains’ .com integration

    Unstoppable Domains — a prominent provider of Web3 domains — recently expanded its offerings by incorporating traditional “.com” addresses.  This move marks the first instance of merging conventional Web2 domains with the evolving Web3 domain space. This integration aims to seamlessly connect the existing web infrastructure with the new, allowing users to engage with both types of domains on a…

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  • Coinbase appeals SEC rulemaking petition denial as promised

    Coinbase is continuing its efforts to ensure adequate legislation on cryptocurrency used as securities. After the United States Securities and Exchange Commission (SEC) denied Coinbase’s petition for rulemaking on cryptocurrency on Dec. 15, the crypto exchange appealed the decision on the same day. Coinbase chief legal officer Paul Grewal promised immediate action as soon as the SEC’s denial became known.…

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  • UK plan on digital securities sandbox laid before Parliament

    The United Kingdom Financial Services and Markets Act’s provisions on a digital securities sandbox are scheduled to come into force in January 2024 after being presented to Parliament. In a Dec. 18 publication, the U.K. government announced the Digital Securities Sandbox (DSS) regulations of the 2023 Financial Services and Markets Act, which were laid before Parliament, paving the way for…

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  • Revolut Business reportedly cuts crypto services ahead of new rules

    Neobank Revolut will temporarily halt cryptocurrency purchases on its business platform in the United Kingdom at the beginning of the new year, according to a media report. An email informing customers of the decision mentioned only purchasing, implying holding crypto and selling it could go on uninterrupted.  Revolut said the pause was needed to give it more time to comply…

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  • SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, AVAX, DOGE

    The S&P 500 Index (SPX) rose 2.49% last week, extending its string of weekly gains to seven weeks, the longest such winning streak since 2017. However, Bitcoin (BTC) could not maintain its momentum and succumbed to profit-booking by the bulls. Trading resource Material Indicators said in a X (formerly Twitter) post that “ year-end profit taking and tax loss harvesting”…

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  • Zilliqa on-chain transactions plunge amid ‘technical issue’

    The $383 million Zilliqa ecosystem is experiencing disruptions due to a “critical situation” impacting the network. According to a Dec. 18 post by developers, the Zilliqa blockchain faces a “technical issue that has resulted in an interruption to block production.” Blockchain data shows that daily transactions on Zilliqa subsequently plunged by roughly 50% to 30,906, compared to an average of…

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  • EU Commission targets X over ‘dissemination of illegal content’

    The European Commission said it had opened formal proceedings to investigate X — formerly Twitter — over content related to the terrorist group Hamas’ attacks against Israel. In a Dec. 18 notice, the commission said it planned to assess whether X violated the Digital Services Act for its response to misinformation and illegal content on the platform. According to the…

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  • Ripple, Coinbase, a16z invest $78M in pro-crypto PAC ahead of US elections

    Ripple CEO Brad Garlinghouse has publicly announced the company’s intent to support “pro-crypto’ candidates during the 2024 United States election season. The company is among a group to have pledged a total of $78 million to support the Fairshake political action committee (PAC). Fairshake announced that prominent industry firms and players had contributed to a significant “war chest” to back candidates…

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