DOJ Seeks $4 Billion From Binance
Kraken Sued By The SEC, Tether Freezes 225M USDT, Bitcoin Fees Surge
Welcome to Coinfeeds Daily Digest! The biggest centralized exchanges are in some turmoil — the DOJ is seeking a $4 billion settlement from Binance over alleged criminal activity, and Kraken is being sued by the SEC over fund mixing and unregistered operations. In other news, Tether froze $225 million in USDT in collaboration with the DOJ and is fighting a legal battle regarding a $1 billion deposit the company made with UK's Britannia Financial. Memecoin ecosystems are seeing buzz, as a Shiba Inu developer promises AI solutions on the project's layer 2 chain, and BONK surges 1,700% in a month. Bittrex is shutting down.
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DOJ Seeks $4 Billion From Binance Over Allegations of Criminal Activity
Reports suggest that the DOJ is looking for over $4 billion to settle a range of accusations including money laundering, bank fraud, and violations of U.S. sanctions laws. This settlement could mark a significant turning point in the cryptocurrency industry, particularly regarding regulatory compliance and government oversight. | Read More
SEC Sues Kraken Over Unregistered Operations and Fund Mixing
The SEC's lawsuit accuses Kraken of operating an unregistered trading platform and improperly mixing customer funds with corporate assets. This move is part of a broader effort by the SEC to apply federal securities laws to crypto trading platforms. | Read More
Bittrex Global Exchange to Close: Users Urged to Act
Bittrex Global, a Liechtenstein crypto exchange, has recently announced a significant change in its operations, having decided to wind down its services, which will result in the suspension of all trading activities starting December 4. This move has prompted the platform to issue a warning to its users regarding withdrawals. | Read More
SEC Scrutiny Delays Celsius's Recovery Plan
Celsius's original plan involved creating a new crypto services business that would distribute $2 billion worth of Bitcoin and Ethereum to creditors, along with equity in the new company. However, this plan has been put on hold as the SEC seeks further details to make a determination. | Read More
New Ethereum L2, Blast, Attracts $30 Million in Funding
Blast, a new Ethereum layer 2 network, has made a significant impact in the ETH community within just hours of its release. This new network is designed to tackle some of the most pressing issues faced by the Ethereum blockchain, such as speed, cost, and scalability. | Read More
Legal Battle Over Tether's $1 Billion Deposit Shakes Market
Tether, the issuer of the popular stablecoin USDT, finds itself embroiled in a legal dispute in London's High Court. The case revolves around a substantial deposit of over $1 billion that Tether made with Britannia Financial, a UK-based financial services firm. | Read More
Tether Freezes $225 Million in USDT Linked to Criminal Activities
Tether has taken decisive action by freezing approximately $225 million worth of its stablecoin, USDT. This measure was taken in response to an investigation that pointed to the involvement of these funds in criminal activities, specifically a human trafficking syndicate operating in Southeast Asia. | Read More
Bitcoin Transaction Fees Flip Ethereum's Due to Ordinals Activity
BTC has overtaken ETH in terms of average transaction fees. This change is primarily attributed to the increased activity surrounding the Ordinals Protocol, which has sparked a resurgence in Bitcoin transactions. The average transaction fee for Bitcoin has seen a significant rise of 48.4% in just one week, jumping from $8.59 to $12.75. | Read More
BONK Memecoin Surges 1,700% in 30 Days
BONK, a meme coin from the Solana ecosystem, has made a dramatic entry. In just 30 days, BONK's value has skyrocketed by a staggering 1,700%, reaching an all-time high and drawing significant attention from investors and enthusiasts alike. Adding to the excitement was the speculation that BONK may soon be listed on Binance. | Read More