Terraform and Do Kwon lawyers used a U.S. House hearing, Binance.US complaint and Hinman emails documents to dismiss the SEC lawsuit.
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SEC argues against Dentons' motion to dismiss Terraform and Do Kwon's lawsuit
Terraform and Do Kwon lawyers used a U.S. House hearing, Binance.US complaint and Hinman emails documents to dismiss the SEC lawsuit.
Binance is leaving the Dutch market: Here’s when
Crypto exchange Binance announced its departure from the Netherlands, with users asked to withdraw their funds as soon as possible.
Mark Cuban takes on SEC, John Reed Stark and ‘crypto derangement syndrome’
The billionaire investor got stuck into a heated debate with former SEC official John Reed Stark over crypto regulation.
BlackRock's Bitcoin ETF ‘is the best thing to happen' to BTC, or is it?
Galaxy Digital CEO Mike Novogratz was among those over the moon with the news, others warn it could be the start of a major institutional takeover.
BlackRock's Bitcoin ETF ‘is the best thing to happen' to BTC, or is it?
Galaxy Digital CEO Mike Novogratz was among those over the moon with the news, others warn it could be the start of a major institutional takeover.
Crypto lender Abra has been insolvent since March, says Texas regulator
Abra and its CEO William Barhydt have been issued with an emergency cease and desist order.
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
While some jurisdictions (cough: America) have adopted a regulation-by-enforcement approach toward crypto, others are doing the opposite. According to a June 15 report from The Financial Times, the Hong Kong Monetary Authority is pressuring major financial institutions to accept crypto clients. But it’s not just regulators laying down a red carpet to boost the special administrative region’s (SAR’s) Web3 industry. In one instance, Johnny Ng Kit-Chong, Member of the Legislative Council of Hong Kong, wrote on June 10:
“There have been a lot of news about international virtual asset exchanges in the past two days. I send forth an invitation to welcome global virtual asset exchanges, including @coinbase, to come to Hong Kong, apply for a compliant exchange, and negotiate a listing plan. I am willing to provide assistance!”
Similarly, Joseph Chan Ho Lim, Hong Kong’s Under Secretary for Financial Services and the Treasury, revealed in an interview that The Hong Kong Monetary Authority has conducted public consultations on the launch of stablecoins and is in the process of establishing a regulatory framework by the end of the year. “Hong Kong will continue to support the development of the industry in the future and welcomes the industry and talents to come to the SAR,” the politician said.
On Jun. 1, Hong Kong Securities Regulatory Commission issued regulations stipulating the requirements for cryptocurrency exchanges to apply for a license to operate in Hong Kong. For regulated trading platforms, a license application must be submitted to the Securities Regulatory Commission within nine months, or before Feb. 29, 2024. If not, their business in Hong Kong must be terminated before May 31, 2024.
Bank of China mints debt notes on Ethereum
On Jun. 12, BOCI, the investment banking subsidiary of Bank of China, revealed the tokenization of 200 million Chinese Yuan ($28 million) in digitally structured notes on the Ethereum blockchain. The move is reportedly the first act of a Chinese financial institution tokenizing a security in Hong Kong. The notes are governed by both Hong Kong and Swiss law as per their origination by the Swiss investment bank UBS. Ying Wang, deputy CEO at BOCI, commented:
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
While some jurisdictions (cough: America) have adopted a regulation-by-enforcement approach toward crypto, others are doing the opposite. According to a June 15 report from The Financial Times, the Hong Kong Monetary Authority is pressuring major financial institutions to accept crypto clients. But it’s not just regulators laying down a red carpet to boost the special administrative region’s (SAR’s) Web3 industry. In one instance, Johnny Ng Kit-Chong, Member of the Legislative Council of Hong Kong, wrote on June 10:
“There have been a lot of news about international virtual asset exchanges in the past two days. I send forth an invitation to welcome global virtual asset exchanges, including @coinbase, to come to Hong Kong, apply for a compliant exchange, and negotiate a listing plan. I am willing to provide assistance!”
Similarly, Joseph Chan Ho Lim, Hong Kong’s Under Secretary for Financial Services and the Treasury, revealed in an interview that The Hong Kong Monetary Authority has conducted public consultations on the launch of stablecoins and is in the process of establishing a regulatory framework by the end of the year. “Hong Kong will continue to support the development of the industry in the future and welcomes the industry and talents to come to the SAR,” the politician said.
On Jun. 1, Hong Kong Securities Regulatory Commission issued regulations stipulating the requirements for cryptocurrency exchanges to apply for a license to operate in Hong Kong. For regulated trading platforms, a license application must be submitted to the Securities Regulatory Commission within nine months, or before Feb. 29, 2024. If not, their business in Hong Kong must be terminated before May 31, 2024.
Bank of China mints debt notes on Ethereum
On Jun. 12, BOCI, the investment banking subsidiary of Bank of China, revealed the tokenization of 200 million Chinese Yuan ($28 million) in digitally structured notes on the Ethereum blockchain. The move is reportedly the first act of a Chinese financial institution tokenizing a security in Hong Kong. The notes are governed by both Hong Kong and Swiss law as per their origination by the Swiss investment bank UBS. Ying Wang, deputy CEO at BOCI, commented:
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.
Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
While some jurisdictions (cough: America) have adopted a regulation-by-enforcement approach toward crypto, others are doing the opposite. According to a June 15 report from The Financial Times, the Hong Kong Monetary Authority is pressuring major financial institutions to accept crypto clients. But it’s not just regulators laying down a red carpet to boost the special administrative region’s (SAR’s) Web3 industry. In one instance, Johnny Ng Kit-Chong, Member of the Legislative Council of Hong Kong, wrote on June 10:
“There have been a lot of news about international virtual asset exchanges in the past two days. I send forth an invitation to welcome global virtual asset exchanges, including @coinbase, to come to Hong Kong, apply for a compliant exchange, and negotiate a listing plan. I am willing to provide assistance!”
Similarly, Joseph Chan Ho Lim, Hong Kong’s Under Secretary for Financial Services and the Treasury, revealed in an interview that The Hong Kong Monetary Authority has conducted public consultations on the launch of stablecoins and is in the process of establishing a regulatory framework by the end of the year. “Hong Kong will continue to support the development of the industry in the future and welcomes the industry and talents to come to the SAR,” the politician said.
On Jun. 1, Hong Kong Securities Regulatory Commission issued regulations stipulating the requirements for cryptocurrency exchanges to apply for a license to operate in Hong Kong. For regulated trading platforms, a license application must be submitted to the Securities Regulatory Commission within nine months, or before Feb. 29, 2024. If not, their business in Hong Kong must be terminated before May 31, 2024.
Bank of China mints debt notes on Ethereum
On Jun. 12, BOCI, the investment banking subsidiary of Bank of China, revealed the tokenization of 200 million Chinese Yuan ($28 million) in digitally structured notes on the Ethereum blockchain. The move is reportedly the first act of a Chinese financial institution tokenizing a security in Hong Kong. The notes are governed by both Hong Kong and Swiss law as per their origination by the Swiss investment bank UBS. Ying Wang, deputy CEO at BOCI, commented:
Fed, SEC investigate Goldman Sachs over Silicon Valley Bank's securities portfolio: Report
Both regulatory bodies are inquiring into the activities of Goldman Sachs during its unsuccessful capital raise preceding the downfall of Silicon Valley Bank.
Judge will consider whether to try Sam Bankman-Fried separately for superseding charges: Report
Prosecutors said they were prepared to try SBF on his original eight-count indictment starting in October, with the remaining five charges to be decided by Judge Lewis Kaplan.
EU regulator will launch MiCA consultation starting in July
The MiCA framework suggested a roughly 18-month timeline to fully take effect, with regulators and lawmakers seeming to go through proposals aimed at ensuring smooth implementation.
Do Kwon heading into extradition custody in Montenegro after receiving bail: Report
The Terra Labs co-founder will be held for up to six months while the Montenegrin court considers South Korea’s extradition request.
Curve’s (CRV) price hits a 1-year low amid looming liquidation threat
Curve DAO’s governance token CRV dropped 12% on June15 after reports surfaced of risky loans taken by its founder, Michael Egorov, on Aave. The token recorded its lowest trading level against ether (ETH) at 0.00035010 ETH on June 15.
According to on-chain analytics outlet LookOnChain, Egorov deposited 431 million CRV (worth around $246 million) across multiple decentralized lending protocols and borrowed $101.5M of stablecoins on multiple platforms. The deposits by Egorov account for 50.5% of CRV’s circulating supply.
DeFiLlama data shows that CRV faces a liquidation threat of $107 million on Aave if its value falls below $0.37. After a liquidation is triggered, the CRV tokens will be locked in Aave’s smart contracts until an interested buyer settles and liquidates the collateral. A proposal has been made to freeze Egorov’s loans on Aave and prevent further CRV loans to avoid a catastrophic situation.
While the size of Egorov’s loans puts the token under tremendous pressure, the negative bets on CRV have risen considerably, providing fuel for a possible quick upside move.
Is a CRV short squeeze in the making?
The open interest volume for CRV perpetual swap contracts has increased from $35.5 million to $46.3 million following the revelation of Egorov’s loans.
Curve’s (CRV) price hits a 1-year low amid looming liquidation threat
The Curve decentralized autonomous organization’s (DAO’s) governance token CRV dropped 12% on June 15 after reports surfaced of risky loans taken by its founder, Michael Egorov, on Aave. The token recorded its lowest trading level against Ether (ETH) at 0.00035010 ETH on June 15.
According to on-chain analytics outlet LookOnChain, Egorov deposited 431 million CRV (worth around $246 million) across multiple decentralized lending protocols and borrowed $101.5 million of stablecoins on multiple platforms. The deposits by Egorov account for 50.5% of CRV’s circulating supply.
DefiLlama data shows that CRV faces a liquidation threat of $107 million on Aave (AAVE) if its value falls below $0.37. After a liquidation is triggered, the CRV tokens will be locked in Aave’s smart contracts until an interested buyer settles and liquidates the collateral. A proposal has been made to freeze Egorov’s loans on Aave and prevent further CRV loans to avoid a catastrophic situation.
While the size of Egorov’s loans puts the token under tremendous pressure, the negative bets on CRV have risen considerably, providing fuel for a possible quick upside move.
Is a CRV short squeeze in the making?
The open interest volume for CRV perpetual swap contracts has increased from $35.5 million to $46.3 million following the revelation of Egorov’s loans.