Crypto Community News

👮 SAM BANKMAN-FRIED FACES NEW U.S. INDICTMENT OVER CHINESE BRIBERY CHARGE 🇺🇸 U.S. prosecutors unveiled a new indictment against FTX crypto exchange founder Sam Bankman-Fried Tuesday, adding a bribery charge on top of the 12 other charges he already faces. ✅ The former FTX CEO faces charges of fraud, conspiracy and trying to evade U.S. campaign financing laws. Bankman-Fried was arrested last year but released on bond, although the specific terms of his release have been under discussion by both prosecutors and his defense team. ━━━━━━━━━━━ 💰 @Community 🪙

😳 CFTC SUES BINANCE, CEO ZHAO OVER 'WILLFUL EVASION' OF U.S. LAWS, UNREGISTERED CRYPTO DERIVATIVES PRODUCTS 🇺🇸 The U.S. Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance and founder Changpeng Zhao Monday on allegations the company knowingly offered unregistered crypto derivatives products in the U.S. against federal law. ✅ The lawsuit, filed in the U.S. District Court for the Northern District of Illinois on Monday, alleged that Binance operated a derivatives trading operation in the U.S., offering trades for cryptocurrencies including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD), which the suit referred to as commodities. The suit also alleged that the company, under Zhao’s leadership, directed its employees to spoof their locations through the use of virtual private networks. ━━━━━━━━━━━ 💰 @Community 🪙

📈 ARK INVEST SCOOPS UP COINBASE, BLOCK SHARES FOR SECOND STRAIGHT DAY 💱 Cathy Wood's ARK Invest bought $12.6 million of Coinbase (COIN) shares on Friday, the second straight day the fund bought the crypto exchange's stock after the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on March 22, sending COIN tumbling 16% the next day. The shares gained 1.5% on Friday to close at $67.83 apiece. ✅ According to an email sent Friday night U.S. time, 155,833 shares went to ARK Innovation EFT (ARKK), and 26,395 shares went to ARK Next Generation Internet EFT (ARKW). ━━━━━━━━━━━ 💰 @Community 🪙

😰 UK & CANADA REPORTEDLY PLANNING STRINGENT CRYPTO RULES AMID SEC FIASCO 🇺🇸 The U.S. Securities and Exchange Commission (SEC) seems stubborn to make it more difficult for cryptocurrency firms to operate in the United States and beyond. It’s no secret that SEC chair Gary Gensler isn’t a fan of the cryptocurrency market. Under his watch, the agency has taken a number of harsh enforcement actions against crypto companies operating in the United States. Gensler has recently made headlines for declaring that all cryptocurrencies are securities with the exception of Bitcoin. The industry and the SEC have been at odds over how to regulate cryptocurrencies, and this is at the heart of the dispute. ✅ Recently, it has been reported that Gensler has pushed hard his British and Canadian counterparts to create an environment similar to the United States’ for crypto businesses. The UK’s regulatory authorities are rumored to be finalizing plans to announce new restrictions on cryptocurrencies in the coming weeks, suggesting that these discussions were fruitful. Fox Business reporter Eleanor Terrett claims that Gary Gensler and the SEC actively campaigned successfully in Canada and the UK for stricter crypto regulations. ━━━━━━━━━━━ 💰 @Community 🪙

😐 BINANCE SUFFERS TWO-HOUR SPOT MARKET OUTAGE DUE TO SOFTWARE BUG 💱 Cryptocurrency exchange Binance suspended trading on its spot markets for two hours Friday because of a computer bug related to the trailing stop loss feature. ✅ The world's largest crypto exchange announced that it suspended spot markets at 11:38 UTC. Roughly one hour later, Binance CEO Changpeng "CZ" Zhao revealed that "engine one," referring to one of the trading engines, was back online and that it was waiting for the other engines to catch up. ━━━━━━━━━━━ 💰 @Community 🪙