Binance Seeks Dismissal of FTX’s $1.76B Clawback Suit, Calling It ‘Legally Deficient’ – Decrypt
Binance seeks dismissal of FTX’s $1.76B clawback lawsuit, calling it legally flawed. It argues FTX’s collapse resulted from internal fraud, not Binance’s actions, and disputes court jurisdiction over foreign entities.
US Justice Department Launches Probe Into Coinbase Breach
The US Justice Department is investigating a Coinbase breach where cybercriminals bribed employees to steal customer data, demanding a $20M ransom. Coinbase fired rogue agents and estimates $400M in losses.
SEC Delays Solana ETF Decisions, Cites Market Manipulation and Investor Protection Concerns – “The Defiant”
The SEC has delayed decisions on Solana ETF proposals, citing market manipulation and investor protection concerns. Public consultation is open for further input on these digital asset investment products.
Trump’s tax bill advances in Congress – Good for crypto adoption?
Trump’s tax bill proposes a 5% excise duty on remittances, potentially driving crypto adoption as migrants may turn to private crypto tools to avoid taxes and surveillance.
SEC Chair Slams Agency’s Previous ‘Head-In-The-Sand’ Crypto Regulation | Bitcoinist.com
SEC Chair Paul Atkins criticizes past ‘head-in-the-sand’ crypto regulation, advocating for flexible rules to foster innovation and rebuild trust with the crypto industry.
US Senate Advances GENIUS Act: Major Boost to Crypto and Stablecoin Regulation
The US Senate advanced the GENIUS Act, a landmark stablecoin bill, with a 66-32 vote. It establishes a regulatory framework, addressing reserves, AML protocols, and federal oversight for large issuers.
South Korean Actor Hwang Jung-eum Faces Backlash for Embezzling $3 Million to Buy Crypto – Decrypt
South Korean actor Hwang Jung-eum admitted to embezzling $3.1M from her agency to invest in crypto, leading to her removal from a TV show and loss of advertising deals.
GENIUS Stablecoin Bill Passes to Next Stage of Voting
The GENIUS Act, a stablecoin regulation bill, passed a key Senate vote with bipartisan support. It aims to establish oversight for the $248B stablecoin market, requiring full backing and audits.
SEC’s Peirce States Many NFTs Don’t Qualify as Securities, Including Creator-Compensating Tokens
SEC Commissioner Hester Peirce stated many NFTs, including those compensating creators, do not qualify as securities. She emphasized the need for clearer crypto regulations under her Crypto Task Force leadership.
Screen Actors Guild Files Charges Against Epic Games Subsidiary Over AI Darth Vader – Decrypt
SAG-AFTRA filed a labor complaint against Epic Games’ subsidiary for replacing Fortnite voice actors with AI without union consent, following controversy over an AI Darth Vader using offensive language.
