The regulator’s efforts to freeze the company’s operations would put Binance.US out of business and prevent the firm from defending itself in litigation, lawyers said on Monday.
The hackers who stole $35 million from crypto wallet Atomic Wallet have started laundering the funds through Garantex.
New Pod Today!
On June 1, Hong Kong implemented new crypto regulations to license exchanges. Two experts – Angelina Kwan, CEO of Stratford Finance (and former COO of BitMEX), and Adrian Lai, founder and managing partner of Newman Capital – weigh in on the new rules in Hong Kong, which tokens can be listed, recent reports that China may be sanctioning this activity, and how the crypto community is responding so far.
Plus, they dissect the latest developments of the digital yuan, whether China will ever embrace public blockchains, and the shifting global regulatory landscape for crypto, and more.
📜 Republican legislators proposed a bill dubbed the “SEC Stabilization Act,” targeting the removal of U.S. SEC Chair Gary Gensler.
📄 Documents linked to former SEC Director William Hinman's stance that Bitcoin and Ether aren't securities, have been made public in the ongoing SEC lawsuit against Ripple Labs.
📅 FTX founder Sam Bankman-Fried's fraud trial could face significant delays, possibly extending months or years beyond the planned October trial date, if extra charges are included, his lawyers said.
🔒 According to Elliptic, a blockchain security firm, the culprits behind the $35 million Atomic Wallet breach (suspected to be the North Korean Lazarus hacking group) are transferring stolen assets through the OFAC-sanctioned exchange, Garantex.
📑 Galaxy Digital's termination of its $1.2 billion acquisition of BitGo has been upheld by a federal judge, citing "non-compliant" financial documents provided by BitGo as a valid basis for the decision.
🇭🇰 Coinbase and other global crypto exchanges have been invited by a Hong Kong lawmaker to register and operate in the region under new licensing rules.
🌐 Numerous crypto-focused subreddits on Reddit, including r/cryptocurrency, r/bitcoin, and r/ethereum, are temporarily closed in protest against the platform's proposed API pricing changes.
💰 Crypto lending company BlockFi, which halted withdrawals last year, plans to commence limited customer withdrawals this summer.
🛑 Starting next month, eToro will cease allowing U.S. customers to buy Algorand, Decentraland, Dash, and Polygon, in response to the SEC's recent actions.
Today in Crypto Adoption...
💱 BOCI, Bank of China's investment arm, became the first Chinese financial institution to issue tokenized securities on the Ethereum blockchain in Hong Kong, valued at $28 million.
🎓 The University of Toronto is launching an independent XRP ledger validator in collaboration with Ripple, as part of Ripple's University Blockchain Research Initiative (UBRI) in Canada.
📱 Crypto storage firm Censo unveiled a mobile-based institutional self-custody solution.
🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.
💬 A subscriber-only Telegram group, where you can talk with the other members of the Unchained community, build a network in crypto, and talk directly with me and the Unchained team!
📰 Transcripts of all the shows, for subscribers only.
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