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Binance was granted an extension on September 26 to respond to a court order in a lawsuit filed by the U.S. Securities and Exchange Commission (SEC).

U.S. District Court Judge Zia M. Faruqui for the District of Columbia granted motions by BAM Trading and BAM Management for an extension of time to respond to two previous court orders.

The first order requires the defendants to explain why certain documents related to the SEC’s motion to compel discovery should continue to be sealed or redacted, and the second order requires the defendants to justify the sealing of documents related to the SEC’s response to its motion to compel discovery.

BAM Trading and BAM Management now have until September 27 to respond to the show-cause order. The SEC did not oppose their request to extend the deadline.

Separately, BAM Trading and BAM Management filed an unopposed motion to postpone an Oct. 12 status conference. The two companies were the only defendants asking for more time to respond. stated that last night, a total of 4,500 units of selling ETH-28JUN24-4000-C/buying ETH-29MAR24-1900-C were traded, with a nominal value of up to $15 million in diagonal spread block transactions.

Among the blocks compared this time, the long-term options expiring in March next year are particularly prominent. It is rare for such a large-scale transaction to occur in long-term options.

It is worth noting that 27OCT23-1700-C/29SEP23-1750-C, a total of more than 50,000 transactions with a nominal value of nearly US$100 million, appeared on the screen. It seems that whales intend to trade through the order book to avoid Open block order monitoring.

Comprehensive order flow information shows that whales are buying call options in large quantities across all major maturities. After buying $150 million in call options two days ago, they are buying call options in large quantities again.

Data from CCData shows that in August, Binance.US’s monthly trading volume dropped 98% from January 2022, and is expected to decline further in September.

According to CCData, from the beginning of September to September 15, Binance.US had a turnover of $115.7 million, while the volume in August exceeded $286 million.

Most of the decline has occurred since March, when the U.S. Commodity Futures Trading Commission accused Binance of violations.

The SEC sued Binance.US, CZ and Binance in June, accusing them of a series of violations, including misrepresenting trading controls and supervision on the Binance.US platform. The SEC accused Binance.US in a filing on Monday of failing to clarify the facts.

PINS, the first project after LBank restarted Launchpad, is now trading at $0.0100149, an increase of 25% in 24 hours.

Since its launch on September 1, the total increase has reached 2003%.

Based on the hard-top individual subscription of Launchpad of US$1,000, early investors who participated in Launchpad subscription have received a maximum profit of over US$20,000.

PINs Network is a content social network that uses multi-role play to create a plot-driven metaverse. Its total token supply of PINS is 10 billion, of which 2% is distributed through Launchpad.

Data from Tronscan shows that Justin Sun’s address minted $815 million in TUSD on the Tron blockchain.

Starting at 11:45 AM, $815 million in TUSD was minted to the Tron blockchain through a series of 10 transactions.

Each mint is sent to a new address, which then immediately sends the funds to the Huobi 2 hot wallet. Prior to these transactions, the last time TUSD was minted to Tron was 7 days ago.

Shortly after these deposits, approximately $815 million in TUSD from the Huobi 2 address was sent to an address managed by Justin Sun, which was subsequently transferred to an unmarked minterproxy contract, which sent $865 million in TUSD to another address and burned.

The burning of TUSD happened to coincide almost exactly with the minting of stUSDT, with $865 million worth of stUSDT being minted to Sun’s address through 10 transactions, and Sun depositing stUSDT into the Tron-based lending platform JustLend through six transactions.

Deposits currently account for half of Sun’s $1.5 billion JustLend position, according to Tronscan data.

Options data: 22,000 BTC options are about to expire, with a put ratio of 0.74, a maximum pain point of $26,000, and a notional value of $560 million.

156,000 ETH options are about to expire, with a put ratio of 1.09, a maximum pain point of $1,650, and a nominal value of $250 million. stated that the intraday fluctuations of BTC and ETH were very small, with only significant fluctuations around Tuesday. It is common for recent fluctuations to be concentrated on only one or two days a week, and the market hot spots are relatively small. There is almost no valid news for Token 2049.

The above situation has led to a sharp decline in the bullish positions of BTC for delivery this week, a significant increase in the bearish positions of ETH, and Skew has gradually returned to near zero, continuing to bet on the continuation of low fluctuations, but the trading intensity has declined this week.

Sarah Breeden, the incoming deputy governor of the Bank of England (BOE), said that the encryption industry does not pose a major risk to financial stability for the time being, but if its connection with the financial world deepens,

Especially when stablecoins are used for payments, it can pose a significant risk.

It is reported that Sarah Breeden has worked for the BOE for a long time. She will help guide the UK to formulate regulatory encryption methods and play a role in deciding whether to issue a central bank digital currency (CBDC).

Breeden supports CBDC, believing it will become the anchor for all currencies in the digital world.

A court filing in bankruptcy court by FTX’s current management revealed a detailed list of the celebrities, businesses and sports teams it has promoted over the years.

Among them, FTX paid nearly US$750,000 to former NBA star O’Neal and approximately US$308,000 to tennis star Naomi Osaka.

Nearly $206,000 was paid to Jacksonville Jaguars quarterback Trevor Lawrence and about $271,000 was paid to former Boston Red Sox player David Ortiz.

The company acknowledges that the list itself may not reflect an exhaustive list of all deposits and repayments, but is working to identify all outstanding payments from previous years to see how much of them can be recovered to repay debt.

As previously reported, on September 9, a financial consultant hired by FTX stated that FTX was studying whether it could recover promotion fees paid to sports stars such as O’Neal.

Grayscale’s legal team, along with attorneys for Davis Polk & Wardwell and Munger Tolles & Olsen, wrote to the SEC on Tuesday that there was no reason for the other party to refuse to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF.

Grayscale’s legal team said in the letter that GBTC’s Rule 19b-4 submission has been pending for almost three times as long as Section 19(b) of the Exchange Act would have allowed the Commission to take action.

Therefore, we hope regulators agree that the best use of resources now is for the Commission to issue an order approving NYSE Arca’s Rule 19b-4 filing and authorize staff to work with Grayscale and NYSE Arca to finalize a swift listing of the Trust’s shares. We believe the trust’s nearly million investors deserve this level playing field as quickly as possible.

American biographer Walter Isaacson is about to release a biography of Elon Musk of the same name. According to Isaacson, in the new book, Elon Musk’s secret relationship with the cryptocurrency Dogecoin will be made public.

Changpeng Zhao, CEO of the encrypted asset exchange Binance, previously stated that he was surprised by the stable operation of Dogecoin since its creation, and suspected that there was Musk’s support behind it. His remarks were also widely recognized by the crypto world.

There is speculation that Isaacson’s new book may further confirm that Musk has been secretly funding the development of Dogecoin for a long time.

Christine Kim, a Harvard legal scholar and professor of law at Yeshiva University, recently published a research paper detailing the arguments for not just taxing virtual universes, but seeing them as laboratories for experimenting with cutting-edge policies.

In the paper, dubbed simply Taxing the Metaverse, Kim argues that the Metaverse allows participants to create and accumulate wealth entirely within its ecosystem.

The paper goes on to explain that the virtual world’s ability to record all digital activity and track personal wealth means that the government can track and tax income as soon as it is received, which could change the status quo of US tax law.

At Korea Blockchain Week KBW2023, Vitalik Buterin delivered a keynote speech saying that clients have to store more and more things.

The first solution is to stop storing historical data, that is, adopt EIP-444 (enforce bound historical data in the client), the second solution is to transfer state storage responsibility to dedicated nodes, and the third solution is to transfer The old object is moved out of state.

EIP-444 means that the client must stop providing historical headers, bodies, and receipts on the p2p layer for more than one year, and the client can delete (prune) these historical data locally.

Following Grayscale’s victory in its lawsuit against the SEC, the U.S. Securities and Exchange Commission (SEC) may have no choice but to approve multiple spot bitcoin exchange-traded fund (ETF) applications, JPMorgan said.

JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a note Friday that Grayscale’s victory means the SEC will have to retroactively revoke its previous approval of a futures-based bitcoin ETF in order to uphold its rejection of Grayscale. A proposal to convert its bitcoin trust into an ETF.

As such, it seems more likely that the SEC will be forced to approve spot bitcoin ETF applications that several asset managers have not yet approved, including Grayscale’s.

Data from crypto market intelligence platform Kaiko suggests that XRP was the best performer among the top 10 altcoins by market size on Coinbase during the recent decline.

Except for XRP, the average trade size for all identified altcoins is below $400, Kaiko said.

A screenshot of the 7-day moving average of all listed cryptocurrencies shows that XRP’s average trade size is higher than it was at the time of the Ripple vs. SEC case ruling.

Bitcoin has led the cryptocurrency market’s price plunge over the past 72 hours, losing about 8.7% of its value, according to TradingView.

The drop sent bitcoin prices below key support levels, retesting recent lows of $25,350.

Ethereum experienced a similar situation, losing 7.36% of its value during the crash. ETH also broke below a key support level before finding a local bottom at $1,602.

According to Shibarium Scan, the Shibarium network has more than 1 million wallets participating.

In total, these users executed more than 783,000 trades, with an average daily trade volume of approximately 73,640 trades. Notably, the blockchain’s total block count currently stands at 421,736.

Despite the surge in transaction volume, this has yet to translate into a significant increase in total assets locked on the bridge.

Currently, the figure is only $1.16 million. DeFillama data shows that the main players on the network are decentralized exchanges, mainly DogSwap and MARSWAP.

These platforms accounted for about $1 million of total TVL.

Exploits, hacks, and scams will steal nearly $1 billion in 2023, according to a report shared by blockchain security firm CertiK.

According to CertiK, more than $997 million has been lost so far in 2023 due to exploits, hacks and scams.

These include approximately $261 million in losses due to flash loan attacks, over $137 million in losses due to exit scams, and over $596 million in losses due to exploits.

Malicious actors targeting the cryptocurrency space stole more than $45 million in digital assets from victims in August alone, it was reported yesterday.

Some experts say the Grayscale and Uniswap rulings send a strong message to U.S. lawmakers that regulatory changes may be necessary.

The judicial logic of the two court cases, especially with Democratic-appointed judges, has special significance.
Grayscale judges Sri Srinivasan, Neomi Rao and Harry Edwards made the ruling, Rao wrote the opinion, and Srinivasan was an appointee of President Barack Obama and a relatively close Moderate Democrats.

Both Srinivasan and Edwards sided with Grayscale, which could send a signal that the SEC could lose to many Democratic judges.

Justin Slaughter added that the D.C. Circuit is considered the second most important court in the United States because it hears cases related to rulemaking and is also considered the SEC’s home court due to the Democratic majority.

John Aughenbaugh, an associate professor at Virginia Commonwealth University, said that what is really impressive about the Grayscale verdict is not that the judges were appointed by different presidents, but that the judges were appointed by presidents of different political parties.

They’re basically sending the same message to the SEC that you need to make some sound decisions and you can’t keep treating the same class of bitcoin products differently.

Users of Robinhood’s self-hosted Web3 wallet can now use the Bitcoin and Dogecoin networks to host, send and receive cryptocurrencies, investment platform Robinhood revealed Wednesday.

In-app Ethereum swaps also started rolling out today. The company said the in-app Ethereum exchange for more than 200 tokens began rolling out to select users today and will be available to everyone in the coming weeks.

Unlike other wallets, users do not need to hold Ethereum to exchange, and network fees will be automatically deducted from the tokens they already hold, making it easier for everyone to get started and use DeFi.

It is reported that Robinhood Wallet is a multi-chain, self-custody, Web3 wallet, which now allows users to own, send and receive cryptocurrencies on the Arbitrum, Bitcoin, Ethereum, Dogecoin, Optimism and Polygon networks, exchange on Ethereum and Polygon Cryptocurrency, and connect a wide range of decentralized applications.

A U.S. federal court has approved cryptocurrency fund Grayscale Investments to launch the first bitcoin ETF in the United States, a watershed moment for the cryptocurrency industry as it seeks to raise billions of dollars from everyday investors.

On Tuesday, a three-judge appeals panel in Washington overturned the SEC’s decision to block the ETF.

The court called the rejection of Grayscale’s proposal arbitrary and capricious because the SEC failed to explain the different treatment of similar products.

Dennis Kelleher, CEO of Better Markets, believes that the judge’s judgment against Grayscale and the SEC has not changed the fact that the Bitcoin market is vulnerable to fraud and manipulation.

It also does not change the fact that ETFs pose a serious threat to investors, which is why the SEC rejected and should reject Grayscale, and the SEC should consider revoking the previous unreasonable approval of the Bitcoin futures ETF.

Better Markets is a Washington-based organization that often seeks to counter lobbying by the financial industry.

Tom Wan, an analyst on the 21co chain, posted on social media X (formerly Twitter) that after visiting the Cyberport Web3 Living Lab, he found that the biggest surprise was the central bank’s digital currency CBDC.

Hong Kong has highlighted the integration and composability of CBDC with Web3, allowing businesses to use eHKD as a payment method, and local banks are building wallets for eHKD.

This may extend Hong Kong support to other tokens (which are likely to be issued by whitelisted entities and will depend on which blockchain they are built on).

However, according to Tom Wan’s analysis, it is exciting for Hong Kong to explore the vision of integrating CBDC and Web3, but it may be surprising if eHKD is really implemented using a permission-free blockchain like Ethereum.

Because according to the list of partners of the CBDC pilot program, all partners except Ripple labs, a cryptocurrency company, are banks and financial technology platforms.

FTX stated on social media X (formerly Twitter) that in response to the Kroll company’s cybersecurity incident, FTX has taken precautionary measures to temporarily freeze the affected user accounts in the customer claims portal.

As previously reported, on August 25, FTX stated that a cybersecurity incident occurred at Kroll, the bankruptcy claims agency, which resulted in the disclosure of non-sensitive customer data of some claimants in the bankruptcy case.

Kroll is directly notifying affected individuals to be vigilant about the scam emails, while FTX’s own systems were unaffected by the incident.

In addition, BlockFi also stated that it was affected by the Kroll data breach and reminded users to be alert to fraudulent information.

U.S.-based cryptocurrency exchange Coinbase is in talks with Canadian banking giants in an attempt to convince them to support the country’s crypto ecosystem.

Lucas Matheson, director of Coinbase’s Canadian operations, told CoinDesk in an interview that he has been in conversations with top Canadian banks.

He didn’t name them, but the Big Five of Canadian banks are: Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce.

“My hope is that over the next few quarters, we’ll see some of the biggest banks in Canada starting to get involved in the crypto economy,” Matheson said.

Over the past week, Binance staff reached out to multiple projects, asking for details of their relationships with market makers and whether they would consider funding the exchange’s savings products.

Specifically, Binance asked these projects if they would consider depositing 1-5% of their circulating tokens into their savings accounts to earn interest.

Similar promotional screenshots have also been shared on Twitter. Binance also asked for an explanation if the project in question had no relationship with the market maker or wished to contribute to its savings product, the sources said.

A Binance spokesperson said the rollout is part of an ongoing risk management program targeting a small number of exchanges-listed cryptocurrency institutions with trading pairs that are less liquid or have market capitalization relative to the broader market. smaller. Such features could expose users to risks, including potential market manipulation, the spokesperson said.

Binance.US announced that, through cooperation with third-party payment providers such as MoonPay, an enhanced version of the function of using USDT to buy and sell cryptocurrencies has been launched on the Binance.US mobile application.

The feature allows users to top up their USDT balance with U.S. dollars, and then use USDT to buy or sell more than 150 cryptocurrencies supported by the platform.

In order to use USDT to recharge the account more easily, MoonPay provides USD deposit support, and supports the use of debit cards, credit cards, Apple Pay and Google for USDT purchase payments.

A Binance.US spokesperson said there are still banking partners that allow the company to process U.S. dollars for customers, but did not name them.

Coinbase previously offered to buy back $150 million in face value bonds, but investor interest has so far been limited, suggesting many investors see more upside to the bonds.

The exchange said on Monday it had raised its repurchase offer to 67.5 cents per share and has now bid for bonds with a face value of $50 million.

The bonds, which have a coupon rate of 3.625 percent and are due in 2031, are currently trading at about 63.5 cents on par. Bondholders have until Sept. 1 to make a final decision and accept the deal.

According to previous news, Coinbase proposed to repurchase part of the outstanding junk bonds, and will purchase up to $150 million in cash for notes due in October 2031 with an interest rate of 3.625%.

The U.S. Securities and Exchange Commission (SEC) has announced charges against capital management firm Titan Global Capital Management for making misleading disclosures about compliance failures for clients’ crypto assets.

Additionally, the SEC alleges that the company “disclosed conflicting information to customers regarding how Tita custody crypto assets.”

It also failed to adopt policies and procedures centered on employees’ personal cryptocurrency transactions.

Titan agreed to a cease and desist order and censure, and will pay more than $1 million, including a civil penalty of $850,000 and prejudgment interest of more than $190,000.

The violations occurred between August 2021 and October 2022, and Titan did not admit or deny the SEC’s allegations.

Data shows that the market downturn has led to a weakening of enthusiasm for cryptocurrency venture capital investment, with funds injected into Web3 projects falling by 30% in the past 12 months.

Additionally, as the bear market continues to slash venture capital in the crypto industry, alternative financing options such as grants are gaining traction as a means of supporting the community.

According to Blockchain Grants, at least 40 cryptocurrency projects are currently offering grants to developers working on Web3 solutions.

According to the official announcement, according to the position record of NBS in the Binance Wallet, the balance of the delisted token New Bitshares (NBS) held by it will be exchanged for the equivalent USDT.

Binance converts the user’s entire New Bitshares (NBS) balance into USDT equivalent.

And use the average exchange rate of NBS/USDT as the exchange rate.

After the conversion of New Bitshares (NBS) token balances of all affected users to USDT is completed, an announcement will be made separately.

Cryptocurrency exchange Coinbase has given away $120,000 worth of bitcoin to WNBA players as part of its ongoing sponsorship of the women’s professional basketball league.

Players from both the New York Liberty and Las Vegas Aces were rewarded with $5,000 in bitcoin from the exchange and deposited into their personal Coinbase accounts for Tuesday’s WNBA Commissioner’s Cup tournament.

Coinbase expanded its partnership with the WNBA in 2022 after becoming the WNBA and NBA’s first cryptocurrency sponsors in September 2021.

As part of the expansion, the exchange helped all players in the league set up crypto educational content and set up individual cryptocurrency accounts.

Tesla CEO Elon Musk’s lawyer, Alex Shapiro, has lashed out at the latest complaint in an insider trading lawsuit filed by Dogecoin investors.

Alex Shapiro said the action was yet another example of lawyers abusing their power and litigation tactics.

It is reported that Evan Spencer, the lead attorney for the class action against Musk, amended the lawsuit for the third time in June and filed more allegations.

The lawsuit, originally filed last June, seeking $258 billion in damages, accuses Musk of deliberate marketing, market manipulation and insider trading when discussing Dogecoin.

Musk’s lawyers said in the latest motion that there is nothing illegal about tweeting pro-cryptocurrencies or funny pictures, and he mocked the plaintiffs’ amended complaint as whimsical, tortuous and often incomprehensible.

Maker tweeted that the growth of Spark Protocol has been excellent. In just 24 hours, users borrowed more than 49 million DAI, which means that DAI borrowing surged by 248%.

Spark Protocol’s D3M has broken through the previous limit of 20 million DAI, adding about 78 million DAI to about 98 million DAI.

The new debt ceiling is set at 200 million DAI, all of which can be borrowed from Spark at an expected interest rate of 3.19%.

Coinbase Global’s lawyers asked a U.S. judge to dismiss the SEC’s lawsuit on Friday, saying: The SEC would have misread Howey’s point of view, and the recent encryption case does not support the SEC’s efforts to use the “plan” as a legal text escape.

For example, one could invest in a baseball or other trading card company through a vehicle that imposes obligations on the company, which would be a security.

Or, people could buy baseball cards on the open market in the hope that they appreciate in value so that people buy a commodity.

This remains the case even as the company says it plans to create a best-in-class card trading platform to increase the value of the cards it sells. These performances don’t turn baseball cards into securities. Baseball Cards is not a stake in the baseball card business.

The zkSync ecological lending protocol EraLend stated on social media that after preliminary investigations, the illegal attack has been determined to be a read-only reentrancy vulnerability.

The attacker manipulated the price of the oracle machine, causing the USDC mining pool to be exploited for about $2.76 million. All other pools remain safe and unaffected. The attackers used multiple bridges to spread the exploited funds across multiple wallets on various chains.

Currently, funds are spread across 3 blockchains and 8 addresses, which we are monitoring closely. We are actively working with bridges, security teams, exchanges, and law enforcement to investigate and trace the flow of funds.

To limit further impact, we have temporarily halted lending, USDC supply, and SyncSwap LP supply.

In addition, we have significantly reduced the interest rate on the USDC pool to protect affected borrowing positions from potential liquidations during this period.

EraLend suffered a read-only reentrancy attack, with a total loss of $3.4 million.

According to the official website data, the total amount of stUSDT pledged has exceeded 400 million USDT. As of now, the APY of stUSDT products is as high as 4.22%.

It is reported that stUSDT is the first RWA (Real World Assets) track product in the TRON ecosystem. It was officially launched on July 3 and is now running through the decentralized platform JustLend.

The stUSDT platform is committed to building bridges between individual and institutional investors, the encrypted world and the real world through smart contracts, and providing a fairer RWA investment channel for everyone.

A recent report by fintech giant Ripple revealed the growing role of cryptocurrencies and blockchain technology in cross-border payments, an area expected to be worth a staggering $250 trillion by 2027.

The report states that the underlying infrastructure that facilitates the transfer of funds from one account to another is mature and needs to be improved, and that cryptocurrencies and blockchains can enable efficient transfers of funds.

According to the report, 44% of respondents believe that payments are the factor most likely to drive the adoption of cryptocurrencies, and nearly half of the respondents believe that cross-border payments are a key use case of cryptocurrencies.

More than 80% of global financial leaders expect to use cryptocurrencies in their business in the next three years.

The report also states that mobile banking is expected to be used by more than 65 percent of the US population by 2025, while online banking is expected to reach nearly 1 billion users in Asia by 2024.

The U.K. government has rejected lawmakers’ plan to regulate cryptocurrencies like gambling, saying its existing proposals better address the risks posed by events such as the FTX crash.

The UK government said a siled gambling regulatory regime was unlikely to address risk factors such as the alleged mixing of client funds at cryptocurrency exchange FTX, or correct problems related to insider trading and market manipulation covered by traditional financial regulation.

Relying on recommendations for gambling regulation would be a fundamental departure from the government’s expected approach, which mirrors the recommendations of global standard-setting bodies.

YGG Japanese business partner ForN released a blockchain game survey and white paper, which conducted a survey on blockchain (Web3, NFT, GameFi) games among a total of 1018 gamers and general game enthusiasts.

The survey results show that about 20% of the respondents have heard of blockchain games, but only 3.7% have played blockchain games, and more than 70% of the respondents have not played but are interested in blockchain games. The reason is lack of understanding and awareness.

More than 80% of respondents who have tried blockchain games are satisfied with it. More than 60% of the respondents believe that if the blockchain game is free, it will be easy to get started.

More than 60% of the respondents believe that blockchain (Web3, NFT, GameFi) games will become mainstream in the future.

Nasdaq CEO Adena Friedman said on Wednesday’s earnings call that the company is abandoning plans for its cryptocurrency custody service, which was supposed to go live in the second quarter of this year.

Given the changing business and regulatory environment in the U.S., Nasdaq has decided to suspend those plans and halt efforts to seek the necessary licenses, Friedman said.

She added that Nasdaq remains committed to participating in digital assets, including hosting exchange-traded funds (ETFs) related to the industry.

The number of cryptocurrency-related employees has surged nearly 160 percent since 2019, according to findings from cryptocurrency research startup K33.

In a report titled “The Emerging Cryptocurrency Industry,” K33 estimates that the total number of people working in cryptocurrencies will be close to 190,000 by 2023.

The report also suggests that the number of such professionals was only around 73,000 in 2019. Although the number of cryptocurrency-focused employees has decreased by about 11% since 2021, the number of cryptocurrency professionals is still significantly higher than four years ago.

The increase appears to be in line with the dynamics of bitcoin’s price, which has surged more than 300% from its annual average of around $7,200 in 2019, according to CoinGecko.

Officials from the European Securities and Markets Authority (ESMA) say they are working to ensure that the landmark cryptocurrency law is implemented uniformly across the 27-nation bloc.

Binance’s corporate structure poses a challenge to traditional regulatory procedures in Europe. ESMA is focusing on ensuring that the conflict of interest highlighted in the FTX case does not arise after MiCA goes live in 2024.

Now, EU regulators are facing the next big task of ensuring that giants like Binance do not ignore MiCA regulations.

Benjamin Burlat, senior policy officer at ESMA’s digital finance and innovation team, said, “When it comes to a large company like Binance, one aspect of our focus is to ensure that the MiCA rules are implemented in a consistent manner across member states.”

The U.S. Securities and Exchange Commission (SEC) lawsuit against Binance has seen new developments, with a third party “Eeon” seeking to intervene in the case on behalf of clients.

The U.S. SEC filed a lawsuit last month against Binance Global, Binance.US and CEO Changpeng Zhao on 13 counts, including misleading investors and violating securities laws.

According to a filing in the District Court of the District of Columbia, Nevada-based legal entity “Eeon” filed a motion on behalf of clients to intervene in the SEC’s lawsuit against Binance Holdings.

The petitioners argued that the SEC and Binance’s attorneys represented their interests and that no one was attempting to speak on behalf of clients.

According to official news, the TRON network has officially passed the voting request for proposal No. 88, which aims to enable the optimization of the ease of use of Stake 2.0.

At present, relevant optimizations have officially taken effect on the TRON mainnet, including: allowing users to cancel unstakes that have been initiated but not yet completed (TIP-541:), allowing users to specify resource proxy lock time according to needs (TIP-542).

According to the official statement, the entry into force of Proposition 88 will greatly enhance the flexibility of Stake 2.0 and the convenience of users.

After the optimization is enabled, TRON will provide users with more Stake operation options, and the utilization efficiency of TRON resources will be further improved.

The SEC said the investing public is subject to a number of security laws that regulate how their money is invested and managed in traditional markets like the New York Stock Exchange.

Digital currency companies don’t abide by these same regulations, and that’s the core problem. There is no valid reason or argument for these companies to be exempt from such laws, other than the convenience that the funds provide to crypto platforms in terms of investment.

This seriously harms the interests of the investing public, and from the SEC’s perspective, this needs to be eliminated. The SEC’s mission is to keep these companies in compliance with these securities regulations, but they’ve had problems enforcing those goals.

The global cryptocurrency industry is worth $180 billion and has more than 10,000 companies, according to a July 5 report by K33 Research.

The firm noted that the sector would be much more valued if measured against the peak of the bull market in 2021.

Additionally, Singapore and Hong Kong are the top cryptocurrency hubs in Asia, with 65,900 employees accounting for 35% of global cryptocurrency employment.

With 3,400 employees, Binance is the largest employer in Asia, followed by OKX exchange (3,000 employees) and (1,900 employees).

According to data from the official website, on the first day of stUSDT’s launch, the total amount of pledges has exceeded 22 million USDT. The latest announcement shows that the stUSDT platform will hold its first welfare event from July 10 to August 10.

It is reported that stUSDT is the first RWA (Real World Assets) track product in the TRON ecosystem. It was officially launched at 21:00 yesterday and is now running through the decentralized platform JustLend.

The stUSDT platform is committed to building bridges between individual and institutional investors, the encrypted world and the real world through smart contracts, and providing a fairer RWA investment channel for everyone.

According to official news, TRON has released an upgraded version of its mainnet — GreatVoyage-v4.7.2 (Periander). In the latest version, TRON has introduced a number of governance proposals and key updates, mainly including: a more flexible Stake 2.0 pledge system, compatible with Ethereum EIP-3855, a more friendly smart contract call access interface, and a comprehensive upgrade of the P2P network module.

After this upgrade, it is expected to improve the flexibility of the TRON network staking system as a whole, improve the convenience of smart contract development, and significantly optimize the performance of the TRON network infrastructure.

Justin Sun, founder of TRON and member of Huobi Global Advisory Committee, said that TRON will continue to increase investment in ecological construction in the future, attract more developers, capital and users to participate in ecological co-construction, and incubate more high-quality projects , to maximize ecological and public value.

At the same time, TRON will strengthen infrastructure and Defi ecological construction, and continue to move towards the vision of enabling 8 billion people around the world to achieve financial freedom.

According to Lookonchain monitoring, Poly Network hackers have sold 94 billion SHIBs for 360 ETHs, sold 495 million COOKs for 16 ETHs, and sold 15 million RFuels for 27 ETHs.

Hackers are transferring assets and 1 ETH to multiple new wallets, likely for sale.

Poly Network is under attack. Hackers issued additional assets on several chains through Poly, among which nearly 100 million BNB and nearly 10 billion BUSD were issued on the Metis network.

German financial regulator BaFin has decided not to grant a custody license to crypto exchange Binance, according to people familiar with the matter. It is unclear whether this is a formal cancellation, or if regulators have expressed their intentions in ongoing negotiations.

Binance withdraws Austrian license application under pressure from regulators. Additionally, Binance had previously waived its registration with the Cypriot securities regulator, decided to withdraw from the Netherlands after unsuccessful registration attempts, and was ordered to cease operations in Belgium.

Japan’s financial regulator, the Financial Services Authority (FSA), has announced a partnership with the Monetary Authority of Singapore (MAS) to conduct joint supervision and pilot testing of cryptocurrency projects under the latter’s “Project Guardian” initiative.

Participation will be limited to the observer capacity of the FSA at this stage. “The project aims to test the viability of the application of digital technologies such as asset tokenization through pilots, while managing risks to financial stability and integrity. Current industry pilots include fixed income, foreign exchange, and asset and wealth management,” the regulator wrote.

Project Guardian was established by MAS in May 2022 to test the “feasibility of asset tokenization and DeFi applications” under appropriate regulations. The project has four focus areas, open and interoperable networks, trust anchors, asset tokenization, and institutional-grade DeFi protocols.

In one notable item of the initiative, “DBS Bank, JP Morgan and SBI Digital Asset Holdings targeted a flow consisting of tokenized Singapore Government Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD).” Sex pools traded foreign exchange and government bonds.”