The SEC and lawyers request Federal Court to pause Binance case proceedings for an additional 60 days
On April 12th, as per the report by Coindesk, the lawyers of the U.S. SEC and Binance petitioned a federal court to once more postpone the SEC-Binance litigation by another 60 days.
It is reported that in 2023, the U.S. Securities and Exchange Commission (SEC) sued Binance for violating federal securities laws. In February of this year, after U.S. President Donald Trump was re-elected and appointed Commissioner Mark Uyeda as the Acting Chairman, the SEC requested a 60-day pause in the case, which is set to expire next Monday. The SEC explained that they have established a newly formed cryptocurrency working group with the aim of drafting clearer guidelines on how securities laws apply to digital assets.
In the filing on Friday, the lawyers involved in the case stated that, considering "how the efforts of the cryptocurrency working group may impact the SEC's claims," they are therefore requesting another 60-day extension.
The filing stated, "Given these ongoing discussions and the ti
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Spanish Police Dismantle Crypto Crime Gang Using AI for Fraud, Seize Over $21 Million
On April 12th, according to the report by Decrypt, the Spanish police carried out a two-year operation and arrested six individuals. They dismantled a cryptocurrency investment scam ring that employed artificial intelligence to defraud 208 people, with a total amount of over 19 million euros (21.5 million dollars).
The Spanish National Police stated that the operation commenced two years ago when a man in Granada reported to the police after losing 624,000 euros (over 700,000 dollars).
Officials said that the suspects used artificial intelligence technology to create highly realistic deepfake videos of celebrities in order to deceive potential investors and make them hand over cash. To sustain the scam, the group would inform the victims that in order to unlock their initial investment, they needed to inject more money into the scheme - a scheme that promised huge returns through cryptocurrency investments.
The Spanish police did not disclose which cryptocurrencies the scammers used
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Justin Sun Responds to WSJ Report: Has Good Relationship with CZ and the US Department of Justice, Trusts Both Parties Completely
On April 12th, Justin Sun responded to a relevant report by "The Wall Street Journal" on social media, stating as follows:
"I am not informed of the rumors currently spreading on the internet. CZ is my mentor, friend, and benefactor. During my entrepreneurial journey, he has shown me attention, guidance, and direction. Until now, his principles and conduct style still serve as the highest standard that I, as an entrepreneur, aspire to.
At the same time, the U.S. Department of Justice has always been one of the closest and most trustworthy partners of our T3FCU. Together, we have been working on numerous significant cases aimed at safeguarding global users and punishing criminal groups worldwide.
Whether it is CZ or the partners of the Department of Justice, we have always maintained direct and honest communication. I have trust in each and every one of them. Under President Trump's enlightened cryptocurrency policy leadership, the U.S. crypto industry is bound to achieve greater achiev
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SEC Acting Chair: Considering Establishing a Short-Term Crypto Regulatory Framework to Address the Current Period
On Friday at an event held at the U.S. SEC's headquarters in Washington, Acting Chair Mark Uyeda stated that the Commission could think about establishing a short-term crypto regulatory framework. This would enable businesses to keep innovating while the agency works on formulating a more permanent solution for regulating digital assets. Uyeda said in an audio statement played at the agency's latest cryptocurrency industry roundtable, "We should examine whether there are more efficient means to regulate within a more flexible federal regulatory framework. While the Commission is engaged in developing long-term solutions to address these matters, creating a time-limited and conditional waiver framework for both registered and unregistered participants may foster greater innovation in U.S. blockchain technology in the short term."
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FTX/Alameda's address redistributed 186,000 SOL redeemed from staking 6 hours ago.
On April 12th, according to on-chain data analyst Yujin Monitoring, an address related to FTX and Alameda transferred 186,000 SOL (approximately $21.56 million) that was redeemed from staking 6 hours ago to 22 addresses.
Based on previous records, most of the addresses that received SOL will subsequently transfer the SOL to either Coinbase or Binance.
Since November 2023, the staking address of FTX and Alameda has redeemed and transferred a total of 8.031 million SOL (approximately $1.03 billion) through this method, with an average transfer price of $128.3. Currently, the staking address of FTX and Alameda still has 5.359 million SOL (approximately $645 million) staked.
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