Solana Community Considers Hard Fork to Protect SOL Token from SEC Lawsuit Fallout
The Solana community is considering a hard fork as a potential solution to protect the SOL token from the SEC's regulatory actions. The platform has faced challenges since being caught in the SEC's spotlight and experiencing the fallout from FTX's collapse.
Binance and CEO File Rebuttal Against SEC’s Request for Restraining Order
Binance and its CEO Changpeng Zhao have filed a rebuttal against the SEC's request for a temporary restraining order that would freeze the assets of Binance.US. The filing argues that the SEC's motion should be denied, as there is no risk to BAM's customer assets and no emergency.
Glassnode Report Shows Investor Behavior After SEC Lawsuits Against Binance and Coinbase
Glassnode released a report analyzing the behavior of investors after the SEC sued Binance and Coinbase. The report noted an increase in short-term holders depositing their balances onto exchanges. Binance experienced a significant decrease in Bitcoin, Ethereum, and stablecoin balances, while Coinbase saw smaller withdrawals in Bitcoin but larger withdrawals in Ethereum.
Ripple CEO Hints at Significance of "Hinman Documents" in Ongoing Legal Battle with SEC
Ripple CEO Brad Garlinghouse has tweeted that the "Hinman documents" are "well worth the wait," suggesting their potential significance in the ongoing legal battle between Ripple and the SEC. The documents are expected to be unsealed this week and are named after William Hinman, the former Director of the Division of Corporation Finance at the SEC.
Digital Asset Lawyers Say Ripple Case Ruling Could Have Significant Implications for Crypto Sector
Legal experts in the digital asset industry believe that the outcome of the SEC and Ripple case could have significant implications for the sector. Despite initial backlash against Binance and Coinbase following the lawsuit, crypto executives now view it as an opportunity to establish clear regulations.
SEC's Temporary Restraining Order Would 'Effectively End' Binance. US Business, Company Claims
Binance.US has argued that the Securities and Exchange Commission's (SEC) attempt to freeze its funds is an "unduly burdensome" move. The SEC sued Binance, Binance.US and Changpeng "CZ" Zhao last week on allegations that the companies operated as an unregistered securities exchange, broker and clearinghouse all in one.
SEC’s Proposed Rule Change Could Impact DeFi Platforms and Decentralized Exchanges
The SEC has suggested a rule change that would broaden the definition of exchanges to include platforms trading crypto asset securities and some DeFi platforms. However, the proposal has not received positive feedback during the comment period, with concerns raised about the potential impact on decentralized exchanges (DEXs).
Binance.US Hires Former SEC Enforcement Director and Three Other Lawyers To Fight SEC Charges
Binance.US has hired four lawyers, including former co-director of the SEC's enforcement division George Canellos, to fight the recent charges from the US Securities and Exchange Commission. Canellos is known for his experience in setting enforcement priorities and policies during his time at the SEC.
Professor Carol Alexander questions SEC's ability to win lawsuit against Binance
According to Professor Carol Alexander of the University of Essex, the U.S. Securities and Exchange Commission (SEC) may not be financially strong enough to win its lawsuit against Binance. However, she also emphasized the importance of proper regulation in the cryptocurrency industry to prevent fraudulent activities.
Investors Pull Out as Binance US Liquidity Plunges 80% Following SEC Lawsuit
Investors are withdrawing from Binance and its US-based sister company following their recent troubles with American regulators. Market depth on the US sister exchange has dropped by almost 80% since the US Securities and Exchange Commission (SEC) filed a lawsuit against both companies last week.
