The move by Andreessen comes at a time when the U.S.
Securities and Exchange Commission (SEC) has been cracking down on the crypto industry, suing cryptocurrency exchanges Coinbase and Binance last week for allegedly breaching its rules.
In the days leading up to the failure, customers of Sam Bankman-Fried’s crypto exchange withdrew billions of dollars, hobbling the firm’s liquidity.
A rescue deal with rival exchange Binance also fell through, precipitating crypto’s highest-profile collapse in recent years.
Binance Coin –
Binance is the largest crypto exchange and it has native token binance coin BNB. Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform.
The Binance platform includes the Binance smart chain, Binance chain, Binance academy, 币安现货交易 Trust wallet, and research projects.
The London office, set to open later this year, will work with universities in the UK and support the development of blockchain technologies and startups, the company said in a statement, adding that it will be led by one of the firm’s general partners, Sriram Krishnan.
The SEC sued Binance and Zhao earlier this month alleging that the company artificially inflated its trading volumes, diverted customer funds, and misled investors about its market surveillance controls.
Binance disputes the SEC charges.
The company registered as a digital asset service provider (DASP) on June 20, according AMF’s website, adding a major traditional financial services group to the growing number of crypto companies registered by the French watchdog.
customer assets remain within the country until a sweeping lawsuit filed by the regulatory agency is resolved. Earlier this month, Binance and its U.S.
affiliate entered an agreement with the Securities and Exchange Commission to ensure U.S.
Unlike traditional game studios, certain GameFi initiatives allow the public to participate in the selection of their updates. They have the ability to submit and vote on new features thanks to decentralised autonomous organisations (DAOs).
DeFi components can be added to cryptogames to further decentralise them.
This will also help traders to stay up-to-date about the latest trends in crypto trading market. Things are getting more interesting in Binance Futures as the platform has introduced a chatbot that will encourage its traders to share their experiences.
They will discuss their trading strategies to help other traders succeed.
France has been supportive of the nascent industry and was the first major European country to grant registration to the world’s biggest cryptocurrency exchange, Binance.
“Today’s agreement should serve as a warning to crypto companies that there are hefty consequences for ignoring New York’s laws.”
“Unregistered crypto platforms pose a risk to investors, consumers, and the broader economy,” James said in a statement.
Binance confirmed the news and said it would change the banking provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), but did not reveal any details about the new partner.
Employees in Binance.US’ legal, compliance and risk departments were among those dismissed, the people told Reuters, requesting anonymity because the matter is private.
Binance and Coinbase have both denied the allegations and have accused the SEC of walking away from the firms’ efforts to cooperate and come to a resolution. Coinbase has said the agency hardened its stance and became less willing to work with crypto firms in the wake of the FTX scandal in late 2022.
(Reporting by Chris Prentice; Editing by Nick Macfie)
Separately, the SEC is itself being sued by Grayscale Investment over the regulator’s rejection of Grayscale’s application to convert its flagship spot Grayscale Bitcoin Trust into an ETF.
Over in Europe, the STOXX 600 index lost 0.13%, but MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight.
Combined with gains on Wall Street, the MSCI’s broadest index of world stocks rose 0.42% to hover under a 13-month high.
June 15 (Reuters) – BlackRock is close to filing an application for a bitcoin exchange-traded fund (ETF), CoinDesk reported on Thursday, citing a person familiar with the matter.
BlackRock, the world’s biggest asset manager, on Thursday filed for a bitcoin exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny.