Everything web3, crypto, defi, degen
In brief New York-based fintech Paxos worked with Binance to mint the BUSD stablecoin. It stopped working with Binance in 2023. New York’s regulator has said Paxos will pay a $26.5 million penalty for not doing due diligence on Binance. Stablecoin issuer Paxos Trust will pay a $26.5 million penalty to New York State to…
In brief Zettai must file its Binance agreement and Singapore court orders within a week, following a Delhi High Court directive in the ongoing WazirX legal dispute. The exchange completed a second vote on its revised restructuring plan on August 6, after Singapore’s High Court overturned an earlier rejection. Creditors are seeking a Special Investigation…
In brief The Philippine SEC has cut off access to foreign crypto platforms offering services to residents of the country. The SEC warned that the platforms are operating illegally without licenses or registration. Local platforms may benefit from the shift, though the crackdown has drawn criticism from users over perceived monopolistic moves, Decrypt was told.…
In brief Binance founder Changpeng Zhao has filed to dismiss a $1.8 billion lawsuit brought by the FTX bankruptcy estate. The case concerns a 2021 equity buyback FTX arranged with Binance, allegedly using misappropriated funds. Zhao argues he was improperly served and is not subject to Delaware jurisdiction. The founder and former CEO of crypto…
VOLATILE WEEKEND, XRP LEADS REBOUND, TRUMP FIRES BLS CHIEFXRP, DOGE lead crypto rebound after drop. BTC ETFs suffer 2nd largest single day outflow. Crypto ETFs bought ATH $12.8b in July. China cracks down on mainland crypto again. SEC to hold crypto roundtables across US. Buy the dips in BTC, ETH: Eric Trump. Metaplanet plans $3.7b…
In brief Robinhood CEO Vlad Tenev views tokenization as the future of finance. Robinhood is building its own Ethereum layer-2 scaling network. The firm surpassed analysts’ second-quarter expectations. Robinhood CEO Vlad Tenev referenced tokenization nearly a dozen times during the company’s second-quarter earnings broadcast on Wednesday, highlighting how the once-esoteric term is becoming a cornerstone…
In brief Cboe BZX has filed with the SEC to list the Invesco Galaxy Solana ETF, offering investors regulated access to Solana, including the potential to earn staking rewards. The filing argues Solana’s trading volume justifies approval without a futures market surveillance agreement, citing $2 billion in daily volume across major exchanges like Coinbase and…
In brief CEA Industries chose BNB for its crypto treasury, picking it over more prominent assets like Bitcoin or Ethereum. Incoming CEO David Namdar believes the token hasn’t gotten enough attention and has been cut off from investors in the West. Shares of VAPE are down Tuesday, but up more than 336% in the last…
In brief Shares of CEA Industries (VAPE) are up more than 700% after it announced it will start a BNB treasury. The firm is raising $500 million via a PIPE, with the potential for $1.25 billion in funds for BNB purchases. BNB, the cryptocurrency launched by Binance, set a new all-time high price earlier Monday.…
In brief Binance Smart Chain’s native token BNB set a new all-time high of $858 as it surged 7% on Monday. Other altcoins like Optimism, Injective, and Worldcoin have all seen gains, as Bitcoin dominance drops from a four year high last month. Predictors on Myriad Markets believe that Ethereum is 68.5% likely to set…
