FTX agrees to a $12.7B settlement with the CFTC over fraud allegations, aiming to expedite Chapter 11 proceedings and compensate creditors. $4B is for disgorgement and $8.7B for damages. Court review on Aug 6, 2024. #CryptoRegulation #Update
#Update Empower Oversight seeks transparency from the US SEC over conflicts of interest in crypto regulation. FOIA requests target ex-SEC officials William Hinman and Jay Clayton’s roles with $BTC, $ETH, and $XRP. Delays spark lawsuits, highlighting SEC’s alleged lack of transparency. #CryptoNews
Plaintiffs renew lawsuit against @Tether_to and @bitfinex, alleging market manipulation of Bitcoin and other cryptos with unbacked USDT tokens. Despite previous accusations and a $18.5M settlement, Tether’s market cap hits $113B. #Update #CryptoNews
? @krakenfx partners with Tottenham Hotspur as Official Crypto & Web3 Partner. Starting 2024/2025, Kraken will also be the Official Sleeve Partner for all Men’s and Women’s teams. This multi-season deal aims to enhance fan experience and crypto education. #CryptoNews
Coinbase narrows its subpoena to focus on SEC Chair Gary Gensler’s communications since April 2021, aiming to showcase his evolving views on crypto regulations. Judge concerns led to this refinement. SEC’s response due August 5. #CryptoRegulations
Former SEC lawyer Marc Fagel clarifies that neither Ripple nor the U.S. SEC are seeking a settlement, awaiting the district court’s decision in the remedies phase. XRP price rallies 27% in a week, with RSI signaling a bullish cross. #Ripple #CryptoNews #Update
Northern Data’s U.S. branches seek to dismiss a lawsuit by ex-employees citing lack of jurisdiction. The company plans a $10B-$16B IPO for its AI cloud computing and data center businesses in 2024. #Update #Bitcoin $BTC
Coinbase narrows its subpoena for SEC Chair Gary Gensler, now seeking only documents from his tenure as chair. This follows Judge Failla’s concerns about scope. The SEC accuses Coinbase of operating as an unregistered broker. The refined subpoena aims to clarify crypto regulation. #CryptoRegulation
The SEC has filed litigation against Consensys, claiming Terra Luna Classic ($LUNC), Polygon ($MATIC), The Sandbox ($SAND), Chiliz ($CHZ), and Decentraland ($MANA) are securities. The SEC says these tokens were marketed with profit promises and facilitated trading via MetaMask Swaps. #Update
FATF report: Only 42% of jurisdictions fully comply with the “travel rule” for virtual assets, while 58% regulate VASPs. Developing countries lag in compliance. International cooperation is crucial to combat financial crime. #CryptoRegulation #Update
The European Union’s Markets in Crypto-Assets Regulation (MiCA) aims to standardize crypto regulations, balancing innovation and investor protection. However, it restricts non-Euro stablecoins and lacks support for interoperability, potentially limiting liquidity and growth. #CryptoRegulation
SCOTUS limits SEC’s power in a landmark ruling, benefiting crypto platforms like $XRP and $TON. Galaxy Fox (@GalaxyFoxCrypto) raises $6M in presale, set to thrive as a $1 meme coin in 2024. #CryptoNews
SEC grants exceptions to big banks & brokerages from SAB 121 rules on crypto assets. These entities can exclude customers’ crypto holdings from balance sheets, provided they manage risks. This move favors larger financial firms, sparking industry backlash. #CryptoRegulation
Ripple vs. SEC lawsuit nears conclusion. With key legal wins, Ripple’s $XRP sees a 17% price surge, reclaiming $0.50. Judge Torres’ pending judgment could set a precedent for U.S. crypto regulation. Total XRP futures open interest rises by 19% to $1.18B. #CryptoNews
