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Gary Charges Again 🐙
In today’s edition: 💰 Binance's $4B DOJ deal, 🚫 $225M USDT freeze, 📰 Bullish buys CoinDesk, 🛑 End of Bittrex Global, 📊 $22M theft traced, and more!
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by Juan Aranovich, James Rubin, and Samyuktha Sriram
The filing is the latest against a major exchange as the SEC ratchets up its efforts to regulate the industry.
But Binance founder Changpeng Zhao could still face criminal charges.
In collaboration with the DOJ, Tether and OKX enforced the largest-ever stablecoin freeze, targeting $225 million in USDT linked to a Southeast Asian human trafficking syndicate.
Crypto exchange Bullish, led by former NYSE President Tom Farley, acquired CoinDesk, a major player in crypto-focused media, events, and indexing.
Bittrex Global announced that it will halt all trading and cease operations by Dec. 4 after a series of hurdles with US regulators.
The flow of funds indicates that $22.4 million worth of crypto stolen from liquidity provider Kronos Research originated from Binance.
According to surveys of financial advisors, only 12% are currently recommending that clients invest in Bitcoin, while 47% of advisors personally own Bitcoin and a whopping 77% say they are waiting for a spot Bitcoin ETF to become available so they can offer it to their clients.
On this episode of Unchained, Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of “The Truth About Crypto,” explains how this should all lead to high demand once the first spot Bitcoin ETFs become available, although it will take some time for them to allocate. Edelman also discusses how FTX’s implosion impacted advisor perceptions of crypto, why investors have not been that excited by crypto futures ETFs, and which Bitcoin ETF issuers he believes are likely to be the big winners.
🚧 Celsius to focus solely on Bitcoin mining in its updated bankruptcy plan, shifting away from previous staking plans after SEC feedback.
🤝 Aragon DAO passed votes supporting a lawsuit against its founding team, funding it with $300,000 due to governance issues.
🤖 FTX-backed Anthropic's CEO declined a merger offer from OpenAI, rejecting a proposal to replace Sam Altman as CEO.
🏛️ Tether's $1 billion deposit with UK's Britannia Financial is at the center of a High Court battle in London.
🔍 Canadian regulator seeks feedback on crypto exposure disclosure rules for banks and insurers, aligning with international standards.
🔄 Vega Protocol launched decentralized perpetual futures on its Layer 1 blockchain, allowing community-driven creation of perpetual markets.
Today in Crypto Adoption...
🔧 Luxor Technologies launched Luxor Logistics to expedite global shipping of Bitcoin mining rigs, addressing complex customs and transportation challenges.
The $$$ Corner…
💰 Panoptic garnered $7 million to develop its perpetual options platform for DeFi, with plans for an Ethereum mainnet launch and V2 product.
🚀 Phoenix Group's IPO on the Abu Dhabi Securities Exchange was 33 times oversubscribed, aiming to raise $368 million.
What Do You Meme?
John Stark on the DOJ seeking $4 billion from Binance
So, what should we do? By Polynia
On Unchained Premium 💎
📈 Your Market Update 📉
BTC is up .1%, trading at $37,196
ETH is down .9%, trading at $2,004
BTC dominance: 49.71%
Crypto market cap: $1.46T
*All data as of today, 06:45 am ET
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