Tag Archives: sec

Analysts at American multinational financial services giant JPMorgan said in a report that the Hinman documents released last week in the Securities and Exchange Commission’s legal tussle with the blockchain payments firm Ripple would likely trigger more decentralization in the crypto realm. The research report, seen by CoinDesk, further noted that the documents provide a significant advantage for ether (ETH), the second largest crypto asset by market cap. A Boost for Ether...

The traditional firm could dominate the US digital asset space for a long time to come. Asset management firm Fidelity Investments is reportedly planning a major move that can potentially shake the cores of the crypto markets. According to WhaleChart, the firm has two major moves lined up and would be hoping to achieve one or both of them soon. The Monday morning announcement reads: “Fidelity Investments is preparing to apply for a Bitcoin ETF and submit an offer to acquire Grayscale.”...

The world’s largest asset manager made a massive step towards its involvement in the cryptocurrency industry this week by filing for a Bitcoin Spot ETF with the US Securities and Exchange Commission. With so many previous applications for such a product by other companies failing before, the community wondered whether BlackRock’s attempt seems doomed from the get-go. However, the behemoth’s success rate with the SEC has been rather unmatched so far. History to Repeat But for...

The Texas State Securities Board filed an emergency cease and desist order against crypto trading platform Abra and its Chief Executive Officer Bill Barhydt. The watchdog claimed that the company misled its customers and committed securities fraud by offering some of its products, such as Abra Earn. The regulator added that the firm has been “secretly transferring assets” to Binance, noting that the US SEC has recently targeted the world’s biggest crypto exchange. Insolvent...

In a letter to employees, Binance said it foresees protracted and expensive litigation with the US Securities and Exchange Commission (SEC) and asked Binance.US management to reduce the size of its workforce across the division. The job-cut decision is likely to affect about 50 employees. Job Cuts at Binance.US A Bloomberg report noted that a number of employees at Binance’s US affiliate have been laid off. While a firm spokesperson confirmed the lay-offs, the exact number of...

DAI stablecoin, with a circulation of around $4.6 billion, has surpassed BUSD amidst mounting legal troubles for the world’s largest crypto exchange, Binance. The market capitalization of BUSD has declined to $4.3 billion following the regulatory drama that started earlier this year. According to data from CoinMarketcap, BUSD circulation is down over 70% since the beginning of the year. During the same period, the circulation of DAI has also retraced but by only 20%. BUSD was...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Coinbase Borrow – the official lending protocol of Coinbase, one of America’s largest and most popular digital currency trading platforms – has ceased all operations. Coinbase Borrow Closes Its Doors Permanently The end for Coinbase Borrow arrived on May 10. This was the last day on which customers could take...

Binance also disclosed that the BTC mining subscription service will only be active for 180 days or thereabout. The weight of regulatory pressure from the US Securities and Exchange Commission (SEC) appears to have little or no effect on the activities of crypto exchange Binance. This follows after the exchange recently announced the Binance cloud mining product and services. According to the announcement, the service goes live on Thursday, June 15th, and access to it will be...

The indicator that displays the general sentiment toward bitcoin – the BTC Fear and Greed Index – dropped to “Fear” territory on June 13 and June 14. The last time the metric remained in that zone for two consecutive days was in the first half of March. One possible reason behind the trend’s change could be the shockwave the US SEC caused on the crypto market after filing lawsuits against Binance and Coinbase. Bitcoin stood well above $27,000 last Monday but went through some...

Michael Saylor – Executive Chairman of MicroStrategy – believes the regulatory pressure coming from the US SEC could be a bullish factor for bitcoin’s price and increase its dominance above the other digital assets.  The American predicted that many altcoins will be deemed securities and exchanges will delist them. BTC will be among the few to be spared, whereas its market share dominance could spike to 80%, Saylor added.  Bitcoin is ‘Destined’ to Succeed One of the keenest...