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Tag Archives: featured1

DOJ Announces $4.3 Billion Settlement With Binance As CZ Resigns From Company

The U.S. Department of Justice has settled charges against crypto exchange giant Binance for $4.3 billion, bringing investigations spanning back to 2018 to a close. The DOJ confirmed the settlement in a live video announcement on Tuesday, marking one of the largest enforcement actions ever closed in a crypto-related case. The company pled guilty to willfully floundering the Bank Secrecy Act, among other things. It now must report suspicious financial activity to federal...

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The SEC Just Sued Kraken: Here’s Why

The U.S. Securities and Exchange Commission (SEC) filed a 90-page lawsuit against cryptocurrency exchange Kraken on Monday, re-centering the firm among a handful of crypto giants in the agency’s legal crosshairs. The lawsuit accuses Kraken of a slew of securities law violations, and of commingling customer funds with corporate assets in ways that could risk major losses for both parties. The SEC Strikes Again Per an accompanying press release from the SEC, Kraken has...

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Binance Asked To Pay $4 Billion By DOJ To Settle Investigations: Report

The U.S. Department of Justice (DOJ) has requested that crypto exchange giant Binance pay $4 billion as a resolution to its lengthy investigation of the company. Such negotiations include the possibility that Binance CEO Changpeng Zhao (CZ) is charged with crimes possibly including money laundering, bank fraud, and sanctions violations. According to Bloomberg, an announcement on a settlement deal could arrive as early as the end of November. If accepted by Binance, it would...

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Former SEC General Counsel Denies Regulatory Discord Between Agency and CFTC in Crypto Oversight

The United States has persistently stumbled in delivering clear regulatory guidance for digital assets. The Securities and Exchange Commission (SEC) presides over instruments and assets deemed as securities, while the Commodity Futures Trading Commission (CFTC) regulates the trading of derivatives on commodities. This landscape leaves a regulatory gap for digital assets that defy the categorization of securities or commodity-based derivatives. Amid this regulatory chaos,...

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Worldcoin Drops Double Digits as OpenAI Remove Co-Founder and CEO Sam Altman

OpenAI’s board of directors surprisingly announced leadership changes on Friday that included the immediate removal of Sam Altman, the co-founder and CEO of the company, from his position. The news had a dramatic impact on WLD’s price movements, as the asset plummeted from $2.5 to under $2 in hours. The board of directors’ blog post from Friday reads that the firm’s chief technology officer – Mira Murati – will assume Altman’s position as an interim CEO “effective...

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Bitcoin Tumbles Toward $36K as Crypto Markets Sell Off: This Week’s Recap

The broader cryptocurrency market took a turn for the worse throughout the past seven days as the majority of coins are trading in the red. This comes after weeks’ worth of increases in what seems to be an expected correction. Bitcoin’s price is trading at a 3% loss, tumbling toward $36K at the time of this writing. The leading cryptocurrency was unable to keep up the bullish momentum. It soared toward $38K on Thursday, but it retraced almost as quickly as it skyrocketed. All...

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Bitcoin Ordinals Reach New Milestone Amidst Taproot 2nd Anniversary

Bitcoin Ordinals are taking the network by storm yet again. The total count of minted Bitcoin Ordinals Inscriptions has climbed to a new record. This milestone coincides with the second anniversary of the activation of the highly awaited Bitcoin upgrade, Taproot, which occurred at block 709,632 on November 14th and was the catalyst for the inception of the Ordinals. Bitcoin Ordinals Explode According to data compiled by Dune Analytics, the number of Bitcoin Ordinals...

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Crypto Taxation Misses the Mark: India Loses $420 Million in Potential Revenue Due to 1% TDS

The Indian government has lost $420 million in what could have been a substantial revenue stream as a result of its taxation, forcing traders to move their transactions outside the country. Experts are now suggesting that the Indian government should take a more relaxed approach to its controversial stance on crypto taxation. According to a recent study by Delhi-based think tank Esya Centre, the highly debated crypto policy in India, involving a 1% transaction tax deducted at...

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Bitcoin Explodes to $37K, Ethereum Reclaims $2K, Solana Rallies Beyond $50: This Week’s Crypto Recap

This week has been all about prices, hence the title. It appears that there’s tremendous anticipation for the approval of a spot Bitcoin ETF, which seems to be one of the main explanations given by many experts of the ongoing rally. A lot happened price-wise, so let’s unpack. First things first, it’s important to note that the SEC is currently in a tight window to make a decision on whether or not they will approve a spot Bitcoin ETF. There’s the possibility of more delays,...

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ETH Soars to $2K As BlackRock Signals Potential Ethereum ETF Filing

BlackRock may be preparing to launch a spot Ethereum (ETH) ETF amid roaring confidence that its spot Bitcoin (BTC) ETF application is all but certain, a new company registration suggests. The price of ETH has soared 8% on the day to $2,020. As shown by @SummersThings on Twitter, BlackRock registered a corporation named the “iShares Ethereum Trust” in Delaware on Thursday. The name rings similar to its iShares Bitcoin Trust, a spot Bitcoin ETF product currently under review by...

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