Crypto

Binance firm in talks with U.S. Securities and Exchange Commission

Published

1 month ago

February 22, 2023

ticker NEWS

Paxos is in talks with U.S. Securities and Exchange Commission over Binance USD

The Chief Executive Officer at Paxos, Charles Cascarilla, is engaging with the U.S. Securities and Exchange Commission over the recent issues relating to the stablecoin.

The company argues the stablecoin is not a threat to security, and would defend itself in court.

Nearly three billion Binance USD stablecoins have been taken out of the market since the announcement was made last week.

In a leaked email, Mr Cascarilla told Paxos employees “we are engaged in constructive discussions with the SEC, and we look forward to continuing that dialogue in private.”

The New York Department of Financial Services ordered Paxos to stop minting Binance USD.

It is the third biggest stablecoin with around $16 billion in circulation.

Crypto

Celebrities busted over illegal crypto scheme

Published

5 days ago

March 24, 2023

ticker NEWS

Agreements have been settled without admitting guilt

Eight celebrities have been busted over allegations they’ve been participating in an illegal crypto scheme.

The stars, including Lindsay Lohan, Logan Paul and Soulja Boy, were all charged following an investigation by the U.S. Securities and Exchange Commission.

Lohan and Paul have reportedly settled the matter without admitting guilt.

But, regardless, it’s just another bad look for the already embattled crypto industry.

Crypto

Crypto fugitive Do Kwon arrested in Montenegro

Published

5 days ago

March 24, 2023

ticker NEWS

He was carrying falsified documents at an airport

One of the world’s most wanted crypto fugitives has been arrested in Montenegro.

It’s a long way from home for South Korean entrepreneur Do Kwon, who’s accused of orchestrating a multi-billion-dollar fraud scheme.

Kwon was connected to the TerraUSD stablecoin, which saw $40 billion erased from its holders.

He was reportedly arrested at an airport after carrying falsified documents.

It follows a red notice being issued by South Korea last September.

Crypto

SEC sues Jake Paul over paid crypto promotions

Published

6 days ago

March 23, 2023

ticker NEWS

The issue is linked to Tron founder Justin Sun

The U.S. Securities and Exchange Commission (SEC) is suing YouTube personality Jake Paul over a promotion of cryptocurrencies linked to Tron founder Justin Sun.

The SEC is accusing Paul of a paid promotion of assets without disclosing those payments to the public.

Other celebrities such as Lindsay Lohan, Ne-Yo and Akon and are also being investigated for their involvement.

Meanwhile, the SEC is going after Sun for potential fraud and market manipulation.