Binance customer funds flowed into an account at Silvergate Bank and were mixed with company revenues, according to an investigative report from Reuters.
Coinbase has challenged the SEC’s refusal to respond to its petition for crypto rulemaking, arguing that the mandamus is the “tailor-made remedy for the extraordinary facts presented here.”
🗂️ As part of the investigation into Sam Bankman-Fried, federal prosecutors amassed over six million pages of evidence, a record amount for a white-collar securities fraud case.
🇰🇵 The U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned several cryptocurrency wallets supposedly linked to the North Korean government, claiming they contained Bitcoin, Ether, and stablecoins, and were hosted on Binance.
⛏️ Upstream Data, a Canadian natural gas bitcoin miner, filed a patent infringement lawsuit against competitor Crusoe Energy, demanding cessation of the alleged intellectual property violation and damages.
🇪🇺 Leaked documents suggest that the European Commission is planning to facilitate commercial banks in holding stablecoins and tokenized assets, moderating ongoing discussions in the European Parliament for stricter regulations and capital requirements for crypto holdings in banks.
🇨🇳 Bitcoin and Tether are being used as payment for chemicals used in fentanyl production by Chinese businesses, as reported by blockchain analytics firm, Elliptic.
💼💱 Justin Sun, the founder of Tron, transferred MakerDAO tokens worth $4.3 million to Binance, a move that often signals an impending sale.
📈 The total supply of Tether's USDT stablecoin climbed to $83.5 billion, approaching its previous record of $84.1 billion set last year.
Today in Crypto Adoption...
🌳 Cabin, a digital-native coliving initiative, announced its intention to create the first "network city," a worldwide association of self-governed neighborhoods open to "citizens" holding NFTs, aimed at making living more affordable and accessible.
⛓️ After rolling out its alpha mainnet earlier this month, Vega Protocol, a Layer 1 blockchain focusing on derivatives trading, activated its inaugural on-chain markets.
The $$$ Corner…
🔬 LabDAO, a project aiming at revolutionizing drug discovery with open-source methods, garnered $3.6 million in a funding round, and simultaneously introduced its PLEX software platform.
💰 Multicoin Capital led a $2.3 million seed funding round for FastLane Labs, an entity providing maximal extractable value (MEV) protocol for the Polygon blockchain.
🌎 Num Finance, a decentralized finance (DeFi) protocol, secured $1.5 million in a funding round and plans to introduce stablecoins linked to Latin American and Middle Eastern currencies.
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