Former Celsius Executive's Plea 🚔
Also today: 🛑 Genesis bids farewell to crypto trading, 🌏 Circle joins forces with Grab, 🤝 Deutsche Bank & Taurus, 🚨 $2.7 million vanishes, and more!
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Crypto lender Celsius’ former chief revenue officer Roni Cohen-Pavon has pleaded guilty to US criminal charges.
Genesis will cease operating all of its remaining crypto services by the end of the month.
Grab customers will be able to participate in Web3 experiences during the Singapore Grand Prix as part of a pilot with stablecoin issuer Circle.
Banking giant Deutsche Bank enters a global partnership with digital asset infrastructure provider Taurus to kickstart its digital assets journey.
Millions of dollars worth of crypto was withdrawn from the exchange’s hot wallet through a series of transactions.
On the Pod…
In the wake of FTX’s collapse, Binance – already the biggest exchange in the world by a large margin – has continued to grow. But a series of challenges, including billions of dollars worth of customer outflows, the winding down of its stablecoin BUSD and suits with the SEC and CFTC related to its U.S. operations have challenged its market dominance. Steven Ehrlich, director of research at Forbes Crypto, joins the show to discuss how Binance has been dealing with a deluge of bad news and how it plans to forge a path forward.
⚖️ Celsius and Core Scientific tentatively settled a mining dispute with a $45 million agreement, pending approval from judges in Texas and New York.
⚠️ The Securities and Futures Commission (SFC) in Hong Kong warned against the JPEX crypto exchange for lacking necessary licensing and displaying "suspicious features.”
🏛️🇺🇸 During a congressional hearing, U.S. lawmakers displayed stark disagreements over the issuance of a central bank digital currency (CBDC), debating privacy concerns and innovation potential.
📜 Senator Sherrod Brown urged key federal authorities to enhance transparency in the crypto markets using their existing powers to safeguard consumers and address observed deficiencies in the digital asset sector.
🌐 Polygon outlined technical steps for a Q4 upgrade transitioning MATIC token to POL, aiming to enhance Ethereum scalability with interconnected L2 chains.
The $$$ Corner…
🌏 Thailand's KBank inaugurated a $100 million fund focusing on AI, Web3, and fintech startups globally, with the approval of the Bank of Thailand.
📈 Reverie initiated a $20 million crypto venture fund, Reverie Fund One, focusing on nurturing early-stage startups with financial and advisory support.
What Do You Meme?
Kristin Smith’s biweekly update on crypto policy
Arthur Hayes’ latest blog on macroeconomics and crypto
📈 Your Market Update 📉
BTC is up 1.2%, trading at $26,631
ETH is up .6%, trading at $1,629
BTC dominance: 47.32%
Crypto market cap: $1.1 trillion
*All data as of today, 6:20 am ET
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