The Texas State Securities Board alleged that Abra has been insolvent for months in an emergency cease and desist order.
On the Pod…
SEC Commissioner Hester Peirce has a reputation in the industry for being more supportive of crypto than her peers. After a rough year for the industry, Peirce weighs in on whether the agency was right in recently naming several crypto tokens as securities, the state of the current regulatory framework, and the slow pace of change.
“All I can say is that I’ve been at the agency for over five years, and it’s very frustrating to me that in that time we haven’t done something more productive,” Peirce tells Unchained.
🔍 The Blockchain Association submitted a Freedom of Information Act request to the SEC seeking details about crypto broker Prometheum, whose claims of being a fully regulated exchange have prompted widespread scrutiny over its business practices.
📜 Previously undisclosed documents by the New York Attorney General revealed that Tether did partially back its stablecoin with Chinese securities, including from China Construction Bank Corp. and Agricultural Bank of China Ltd.
🕵️♂️ Binance faces an investigation by French authorities for allegedly providing illegal digital asset services and engaging in "aggravated money laundering," as confirmed by the Paris public prosecutor's office.
📅 The criminal trial of crypto trader Avraham Eisenberg, for his alleged involvement in the Mango Markets exploit, was scheduled for Dec. 4.
🏛️ OKCoin was directed by the FDIC to cease false claims about customer account protections, as the exchange falsely suggests its users' assets are FDIC-insured.
💼 MakerDAO increased its DAI Savings Rate to 3.49% from 1%, encouraging further investment in its DAI stablecoin, while redefining its reserve assets amid a transformative period.
💱 Celsius Network is planning, pending court approval, to offer debtors the option to convert all altcoins, except those in its Withhold and Custody accounts, into bitcoin and ether starting July 1.
⚒️ Ransomware attackers are utilizing mining pools as a method to launder illicit funds, surpassing the use of peer-to-peer exchanges, according to a Chainalysis report.
🔄 Polkadot reformed its governance system with the introduction of OpenGov, eliminating 'first class citizen' voting groups like the Polkadot Council and the Technical Committee, and enabling simultaneous community-led voting on multiple issues.
🌍 Binance announced its exit from the Dutch market following its unsuccessful application to become a virtual asset service provider, leading to restrictions on existing Dutch users' activities.
🔄 Lens Protocol, a decentralized social media project, initiated Lens Improvement Proposals (LIPs), inviting community input on enhancements, bug fixes, and updates, promoting open governance.
🎮 Amy Wu, ex-head of FTX Ventures, has become a general partner at Menlo Ventures, focusing on consumer and gaming sectors, after leaving FTX Ventures amidst a liquidity crisis and ensuing bankruptcy.
Today in Crypto Adoption...
💱 The Central Bank of Colombia is partnering with blockchain company Ripple to conduct a pilot study exploring the use of Ripple's CBDC platform to enhance its high-value payment system.
🔗 Polygon Labs introduced "The Value Prop," an open-source database demonstrating blockchain values and use cases, serving as an educational tool for the constantly evolving crypto and Web3 space.
The $$$ Corner…
👨🔬 ResearchHub, a start-up cofounded by Coinbase CEO Brian Armstrong aiming to revolutionize scientific research using crypto, secured $5 million in a Series A funding round.
🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.
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