Crypto news

Binance CEO Changpeng Zhao (CZ) has been issued a summons by the U.S. District Court for the District of Columbia following a lawsuit against himself and his exchange on Monday.  The CEO must respond to the summons within 21 days, but is not required to appear in person.  Other entities named in the lawsuit, including Binance and Binance US, must also answer the summons.  “If you fail to respond, judgment by default will be entered against you for the relief demanded in the...

Sweat Economy – a fitness-focused decentralized application –  announced the launch of a new governance vote on June 7th in the Sweat Wallet application. The move would enable the community to decide the fate of 2 billion idle SWEAT tokens in inactive user accounts. According to the official press release shared with CryptoPotato, users will be given two options. They can either vote in favor of having the 2 billion idle SWEAT tokens recovered and transferred back to the...

Binance’s U.S. subsidiary announced the removal of over 100 advanced trading pairs on Wednesday and paused its OTC trading portal following legal pressure from the SEC to freeze its assets earlier this week. Some of the targeted pairs include AAVE/USDT, COMP/USDT, EOS/USDT, and BCH/BTC.  Binance US Legal Trouble Binance US did not specify why the sudden pair removals were necessary, but assured users that their assets “remain safe” on the platform. The action will take effect...

Unlike other FTX executives, who pleaded guilty to misdeeds while running FTX and have likely provided a treasure trove of information to the authorities in exchange for a lighter sentence, Sam Bankman-Fried has continued to maintain his innocence. However, as the date that his case gets sent to trial grows ever nearer, his legal team continues to look for ways to lighten their load once October rolls around. Arguing Over Technicalities Last month, SBF’s legal team attempted...

Coinbase CEO Brian Armstrong spoke at length on Wednesday about his initial reaction to the Securities and Exchange Commission (SEC)’s lawsuit against his exchange. The executive responded to SEC Chairman Gary Gensler’s claims about the market not needing more “digital currency,” and debated whether the SEC is acting in good faith.  An Avalanche of Currencies In an interview with CNBC’s Squawk Box, Armstrong argued that Gensler was in no position to be “picking and choosing”...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Musician and artist Troy Sivan recently became the victim of an online Twitter scam in which he was inherently associated with a new digital asset called $TROYE. Troy Sivan Has Twitter Account Hacked The artist’s Twitter profile was overtaken by hackers who not only touted his new album, but also discussed a...

Cathie Wood’s Ark Investment Management has doubled down on its bullish stance on Coinbase, the largest cryptocurrency exchange in America. The investment management firm has purchased another pile of Coinbase (COIN) stock following a price dip caused by the recent SEC lawsuit against the exchange. Recall that the U.S. Securities and Exchange Commission (SEC) sued Coinbase on Tuesday, alleging that the firm failed to register as a national securities exchange, clearing...

Judge Fitzgerald reject arguments from Kim Kardashian and Paul Pierce’s lawyers to dismiss the EMAX class-action lawsuit. A California judge has ruled that Reality TV star and businesswoman Kim Kardashian posted false information on social media while promoting EthereumMax (EMAX). The ruling allows the plaintiffs to proceed with the case against the media personality, retired boxer Floyd Mayweather Jr., and NBA Hall of Famer Paul Pierce. Kardashian’s attorneys had moved to dismiss the...

Crypto market prices have tumbled significantly since the news began to make rounds. Altcoins like Solana (SOL), Cardano (ADA), Polygon (MATIC) and many other tokens face the possibility of being delisted from Robinhood Markets Inc (NASDAQ: HOOD), after the United States Securities and Exchange Commission (SEC) charged Binance and Coinbase Global inc (NASDAQ: COIN) for trading unregistered securities.  At present, Robinhood is taking another look at the digital assets offerings on its...

In the heat of SEC’s enforcement actions against Binance and Coinbase, a simple “Yes” by Jack Dorsey on Twitter elicited a flurry of comments. It all started when a Twitter user asked Dorsey if he thinks Ether is a security, to which he answered in the affirmative. Jack Dorsey’s Ether Rant A known Bitcoin supporter, Dorsey has pointed out dissatisfaction with Ether in the past as well. In the latest episode, the former Twitter CEO tweeted a screenshot of a 2015 post by...