Around 5,000 Coinbase users have recently signed up as potential amicus curiae in the ongoing legal dispute between Coinbase and the U.S. Securities and Exchange Commission (SEC). This article critically examines the significance of this development and its potential impact on the case. An amicus curiae, which translates from Latin to “friend of the court,”
Exchanges
Coinbase, one of the leading cryptocurrency exchanges, has recently accused the U.S. Securities and Exchange Commission (SEC) of overstepping its authority in a court filing on October 24th. The exchange argues that the SEC’s classification of crypto assets as securities falls outside of its jurisdiction. Coinbase further alleges that the regulatory body seeks to change
Binance has been able to maintain a strong derivatives trading volume during U.S. trading hours, despite facing legal action from the Commodity Futures Trading Commission (CFTC). Derivatives, such as futures contracts, forwards, options, and swaps, have become popular financial instruments in the crypto industry. These instruments allow investors to hedge, leverage, and speculate on the
In the midst of an ongoing criminal trial, Sam Bankman-Fried (SBF), the founder of FTX, has revealed plans to bring in a financial expert witness for his defense. This move comes after the testimony provided by government witnesses, including former FTX executives and the former CEO of Alameda Research Caroline Ellison. SBF’s legal team has
In recent news, the renowned publication, The Wall Street Journal (WSJ), has come under fire from members of the crypto community for allegedly publishing misleading information regarding Hamas crypto-related funding. The article, published on October 10th, claimed that Hamas had acquired around $90 million in cryptocurrency to finance an unexpected assault on Israel. This revelation
U.S. cryptocurrency exchange Coinbase has recently announced its decision to establish its European MiCA (Markets in Crypto-Assets) hub in Ireland. This move signifies a significant milestone in Coinbase’s ongoing efforts to expand its international presence. With the adoption of MiCA by EU policymakers, Coinbase is now well-positioned to serve a vast market of 450 million
Binance, once hailed as the largest cryptocurrency exchange in the world, is facing significant challenges as it experiences a substantial decline in net outflows, internal turmoil, and heightened regulatory scrutiny. Over the past 24 hours, Binance has seen more than $1 billion in net outflows, signaling a loss of investor confidence. Additionally, the exchange has
Recent media reports have sparked speculations about Vitalik Buterin, co-founder of Ethereum (ETH), selling off his ETH holdings. These reports were based on the observation of wallets connected to Buterin sending Ethereum to exchanges, unknown addresses, and a Gnosis Safe Proxy wallet. The transactions occurred over a span of seven days in September and followed
The Monetary Authority of Singapore (MAS) has granted an in-principle approval to UPbit Singapore, the Singapore subsidiary of South Korean cryptocurrency exchange UPbit. The approval allows UPbit Singapore to offer regulated Digital Payment Token Services while awaiting full approval. This is a significant milestone for UPbit Singapore, as it now joins other exchanges such as
In a groundbreaking move that blends the worlds of cryptocurrency and motorsport, the renowned cryptocurrency exchange Kraken has recently announced its partnership with the iconic Formula 1 team, Williams Racing. This exciting collaboration signifies the coming together of two trailblazing organizations that are known for their pioneering technologies and their shared vision for the future
