Is This Gary’s Vendetta? 😲
In today's edition: 🎙️ New episode of The Chopping Block, ❌ Arbitrum halts, 🤵 Gary Gensler's job search, and more!
by Kari McMahon
The Arbitrum ecosystem, which has $2.21 billion in total value locked, was briefly halted on Wednesday.
Crypto exchange Binance’s acquisition of GoPax is on pause as regulators examine the SEC’s lawsuit against Binance, according to a local media report.
Galaxy Digital’s Mike Novogratz says the firm is looking at how fast it can move people outside the United States.
Commonwealth Bank will decline or hold payments to crypto exchanges to protect customers from scam risks.
by Juan Aranovich
SEC targets Binance and Coinbase: Jake Chervinsky provides a nuanced perspective on the lawsuits — and the future of crypto regulation.
On the Pod…
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner, chop it up about the latest news. In this episode, the Blockchain Association’s Jake Chervinsky breaks down the cases against Binance and Coinbase – and how they are different from FTX – what it means for the crypto industry, and who may be next.
🤝 Binance's lawyers allege that SEC Chair Gary Gensler had offered to be an "informal advisor" to Binance prior to his tenure at the SEC. They believe this history should disqualify Gensler from participating in the ongoing case against Binance.
🔍 According to SEC allegations, Binance CEO Changpeng Zhao received billions in customer funds through his holding company, Key Vision Development Limited.
⚖️ Despite facing lawsuits from regulators, Coinbase CEO Brian Armstrong stated at the Bloomberg Invest Conference that the company will continue offering its crypto staking service.
🏛️ The U.S. government contested the customer-repayment plan proposed by the bankrupt cryptocurrency exchange, Bittrex, due to outstanding debts related to sanctions violations.
🚫 The U.K.'s Financial Conduct Authority (FCA) is preparing stringent regulations for cryptocurrency advertising, including its classification as a high-risk investment and prohibition of promotional incentives.
📝 BEUC, a collective of European consumer organizations, filed a complaint urging major social media platforms to tighten cryptocurrency advertising rules and prohibit influencers from promoting digital currencies.
🐦 Amid SEC's lawsuits against Binance and Coinbase, various crypto entities have shown their solidarity by minting Coinbase's "Stand with Crypto" NFT.
📺 The case against Kim Kardashian regarding her endorsement of EthereumMax (EMAX) tokens on social media will proceed, as a California judge rejected her dismissal request.
💵 Do Kwon’s controversial bail has come under the scanner as outgoing Prime Minister Dritan Abazovic has urged prosecutors to investigate Kwon’s connection with Europe Now political movement leader Milojko Spajic.
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📈 Your Market Update 📉
BTC is down 1.4%, trading at $26,437
ETH is down 1.5%, trading at $1,844
BTC dominance: 44.72%
Crypto market cap: $1.15 trillion
*All data as of today, 7:45 am ET
Hasu on DAOs
Crypto Aggregation Theory (ft. Bridges) by LI.FI’s Arjun Chad
CoinDesk: The SEC Is Fighting the Last War
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