The SEC’s counsel asserts that the Binance.US transcript and internal SEC emails presented by the defense are irrelevant to the current case. They argue that the Howey test clearly defines the parameters of an “investment contract” and contend that TerraUSD (UST) should be classified as a security.Continue Reading on Coin Telegraph More
The transaction, while notable in scale, is a routine measure intended to balance the needs of Binance’s diverse user base. It is important to note that such substantial movements of USDT from the exchange’s wallets are part of a calculated strategy and not a cause for alarm. Binance has assured its users that their funds are SAFU (Secure Asset Fund for Users) — a phrase frequently used within the crypto community to confirm the safety of users’ funds.This swap arrives against the backdrop of recent concerns regarding USDT’s peg to the U.S. dollar. Tether (USDT), the world’s largest stablecoin by market capitalization, has experienced brief periods of depegging, causing ripples of concern through the crypto market. While these situations were swiftly rectified, they underscore the importance of maintaining sufficient liquidity to ensure stability.Binance’s decision to swap USDT-TRX for USDT-ETH can be interpreted as a response to market dynamics. The exchange appears to be addressing lower demand for TRX (TRON), coupled with an increased need for liquidity on the network. By doing so, it ensures that users have access to stablecoins on the chains where they are most required.The move reflects Binance’s commitment to providing its users with a smooth trading experience, regardless of market fluctuations or shifts in user preference. A shift toward more favorable pairs, in terms of liquidity, is nothing unusual and is conducted by Binance and other large cryptocurrency exchanges constantly.This article was originally published on U.Today More
The termination of services is effective immediately, and no new customers from the Netherlands can open an account with the crypto exchange. From July 17 onwards, existing Dutch customers will only be able to withdraw assets from the Binance platform, and no further purchases, trades or deposits will be possible from today. Continue Reading on Coin Telegraph More
Deaton did not name or confirm what they were, but he shared some of in the public record where one can see the redacted words. He asked the community to take a guess as to what those two words may be.The commentators seem to share a strong opinion on who was mentioned by Hinman.Image via A few people said they think the person in question was Jed McCaleb — the very first Ripple CTO and co-creator of XRP Ledger and Ripple. He was not sued by the SEC, unlike another Ripple co-founder, Chris Larsen.In another tweet, the founder of CryptoLaw reminded the audience about one of the Hinman emails revealed earlier this week. In this email, as the “Ether Speech” and tells recipients that “he’s meeting with Vitalik Buterin the following week to confirm his understanding of the Ethereum network and The Ethereum Foundation.” This may be taken as a hint at the identity of the person and the company in the aforementioned tweet of Deaton.These guesses are highly predictable as Ethereum, just as Bitcoin, are the only cryptocurrencies classified by the SEC as commodities and not securities.This article was originally published on U.Today More
On June 16, the lending platform announced that it had unpaused the stablecoin market, allowing users to access their funds. The DeFi protocol told its users that no funds were at risk and the decision to pause the market was simply done out of “an abundance of caution.” Continue Reading on Coin Telegraph More
In a spirited back-and-forth exchange on Twitter with former SEC officer John Reed Stark that started on June 14, Cuban took issue with Stark’s seeming defense of the SEC’s recent legal action against crypto exchange giant Binance. Continue Reading on Coin Telegraph More
The company announced on June 16 that the optional beta feature is now accessible to the owner of any vehicle equipped with the Mercedes-Benz User Experience (MBUX) interface, which currently accounts for more than 900,000 Mercedes-Benz cars in the United States.Continue Reading on Coin Telegraph More
The company became the center of the crypto industry’s attention this week when its CEO Aaron Kaplan testified at a House hearing and gave its support of regulating crypto under securities laws and the SEC, a position that’s starkly opposite to other vocal proponents of the industry.Continue Reading on Coin Telegraph More
