SEC
SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.
Uniswap Foundation Seeks $62.37M in Second Funding Tranche
The Uniswap Foundation has requested a second tranche of $62.37M in funding to continue its ecosystem development efforts. While the proposal outlines a comprehensive financial plan and future initiatives, some community members have raised concerns about the size of the funding request.
Co-Founder of AirBit Club Sentenced to 12 Years for Cryptocurrency Ponzi Scheme
Pablo Renato Rodriguez, co-founder of AirBit Club, has been sentenced to 12 years in prison for orchestrating a global cryptocurrency pyramid scheme. Co-defendants await sentencing, and the group has been ordered to forfeit approximately $100 million in assets.
Web3 Security Losses Skyrocket to $889.26M in Q3 2023, Says Beosin Report
The Q3 2023 Global Web3 Security Report, jointly initiated by Beosin and SUSS NiFT, reveals a concerning escalation in the Web3 security landscape. The report shows that losses from hacks, phishing scams, and rug pulls reached $889.26M in Q3 2023, exceeding the combined losses of the first two quarters. The report also highlights the increasing threat posed by North Korea's Lazarus group.
He Yi Discusses Binance's Regulatory Strategy Amid Actions Against Binance and Zhao Changpen
In a public letter, He Yi, Co-founder of Binance, discusses the company's compliance strategy, which gains significance amidst a U.S. Department of Justice inquiry initiated on May 6, 2023, 13 SEC charges, and the company's recent exit from the Russian market.
Gemini Allocates $24 Million for Expansion in India
Gemini is set to invest $24 million in its Gurgaon development center in India, focusing on core platform areas like compliance and security. The move is part of Gemini's broader strategy to tap into India's burgeoning tech and startup ecosystem.
Bitwise CIO Matt Hougan Discusses Amended Spot Bitcoin ETF Application
Matt Hougan, CIO of Bitwise, used a Twitter thread to elaborate on the firm's amended spot Bitcoin ETF application. He emphasized the need to prove that the CME bitcoin futures market is a "regulated market of significant size" for surveillance purposes and highlighted Bitwise's history of original research in their ETF filings.
South Korean Brokerage Firms Form Consortium for Tokenized Securities
South Korean brokerage firms KB Securities, NH Investment & Securities, and Shinhan Investment Corporation form a consortium to jointly venture into the tokenized securities market. The collaboration aims to build a common infrastructure and explore strategic business models, targeting cost efficiency and market expansion.
MicroStrategy Acquires Additional 5,445 Bitcoins, Total Holdings Reach 158,245 BTC
MicroStrategy continues to invest heavily in Bitcoin, announcing the acquisition of an additional 5,445 BTC. The company now holds 158,245 Bitcoins, acquired for an aggregate sum of approximately $4.68 billion. The move comes amid a period of relative stability in Bitcoin prices.
SEC Raises Objections to Celsius Network's Restructuring Plan Involving Coinbase
The U.S. Securities and Exchange Commission (SEC) has filed a limited objection to the Chapter 11 restructuring plan of crypto lending platform Celsius Network. The objection, dated September 22, 2023, specifically targets the company's proposed arrangement with Coinbase for distribution services. The SEC is also currently engaged in a lawsuit against Coinbase, adding another layer of complexity to the situation.
Suspicious Transactions Linked to Mixin Network Hack Involve Huobi and Binance
Cyvers Alerts has discovered suspicious transactions linked to the recent Mixin Network hack. Two hacker addresses received 51 ETH from an account that had interactions with Huobi Global and Binance. The watchdog has called on these exchanges to help identify the suspicious account as part of ongoing investigations.