{"id":61230,"date":"2023-09-23T23:43:29","date_gmt":"2023-09-23T23:43:29","guid":{"rendered":"http:\/\/egrowonline.com\/?p=61230"},"modified":"2023-09-23T23:43:29","modified_gmt":"2023-09-23T23:43:29","slug":"binance-us-scores-against-sec-mt-gox-delay-repayments-and","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=61230","title":{"rendered":"Binance.US scores against SEC, Mt. Gox delay repayments, and…"},"content":{"rendered":"


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Top Stories This Week<\/strong><\/h2>\n

SEC sees temporary setback in request to access Binance.US software<\/strong><\/h2>\n

The United States Securities and Exchange Commission has failed to win immediate access<\/a> to Binance.US\u2019s software, with the judge saying he isn\u2019t \u201cinclined to allow the inspection at this time.\u201d The hearing was held on Sept. 18 to discuss the SEC\u2019s motion to compel Binance to hand over detailed information and make its executives more available for depositions. In a hearing, Judge Faruqui said that he wasn\u2019t \u201cinclined to allow the inspection at this time.\u201d Alternatively, he proposed that the SEC should come up with more specific requests for discovery and speak with a broader range of witnesses. In another headline, Binance global and its CEO Changpeng \u201cCZ\u201d Zhao requested dismissal of the SEC\u2019s lawsuit<\/a> filed against them in June, claiming the regulator overstepped its authority in the case.\u00a0<\/p>\n

Mt. Gox trustee changes repayment deadline to October 2024<\/strong><\/h2>\n

Mt. Gox trustee Nobuaki Kobayashi has officially changed the deadline for paying back<\/a> the exchange\u2019s creditors from Oct. 31, 2023, to Oct. 31, 2024. Presently, the Mt. Gox estate holds some 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen. Mt. Gox was one of the earliest cryptocurrency exchanges, once facilitating more than 70% of all trades made within the blockchain ecosystem. Following a major hack in 2011, the site subsequently collapsed in 2014 due to alleged insolvency; the fallout affected about 24,000 creditors and resulted in the loss of 850,000 BTC.<\/p>\n

Tether authorizes $1B USDT to \u2018replenish\u2019 Tron network<\/strong><\/h2>\n

Tether\u2019s Treasury is set to provide a $1 billion near-term liquidity<\/a> for the Tron network. The billionaire authorization was flagged by blockchain tracker WhaleAlert, which drew a quick-fire response from Tether chief technology officer Paolo Ardoino, who said that the USDT tokens would be used as inventory to \u201creplenish\u201d the Tron network. Authorizing USDT in the Tether Treasury allows the company to issue USDT instantaneously once customer funds are received to ensure that the issuer maintains 100% of its reserves. Ardoino added that the event was an authorization and not an actual issuance, with the allocated amount set to serve as inventory for upcoming issuance requests and chain swaps from the Tron network.<\/p>\n

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FTX founder\u2019s parents sued, accused of stealing millions from crypto exchange<\/strong><\/h2>\n

Debtors of FTX have launched legal action<\/a> against the parents Sam \u201cSBF\u201d Bankman-Fried, alleging that they misappropriated millions of dollars through their involvement in the crypto exchange. The plaintiffs argued that Joseph Bankman and Barbara Fried exploited their access and influence within the FTX empire to enrich themselves at the expense of the debtors in the FTX bankruptcy estate. The debtors alleged that SBF\u2019s parents were \u201cvery much involved\u201d in the FTX business from inception to collapse, contrary to what SBF has claimed. According to the complaint, Bankman and Fried extracted significant unearned rewards from their involvement in FTX Group, including a $10-million cash gift and a $16.4-million luxury property in the Bahamas.<\/p>\n

Grayscale files for new Ether futures ETF \u2014 Official<\/strong><\/h2>\n

Digital currency investment company Grayscale is the latest firm to file<\/a> with the Securities and Exchange Commission for a new Ether (ETH) futures exchange-traded fund (ETF).<\/p>\n

Grayscale Ethereum Futures Trust will hold Ether futures contracts with a \u201croughly constant expiration profile,\u201d according to the filing. The trust will \u201cnever carry futures positions to cash settlement.\u201d The nature of the Ether futures contracts in the ETF will not require the trust to use an Ether custodian. Grayscale\u2019s application comes a few weeks after Valkyrie also filed for an Ether futures ETF with the SEC in mid-August, following several other firms filing for ETH futures ETFs.<\/p>\n

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Winners and Losers<\/strong><\/h2>\n
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At the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $26,525<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,590<\/strong> and XRP<\/strong><\/a> at $0.51<\/strong>. The total market cap is at $1.05<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\n

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Immutable (IMX) <\/strong>at 27.07%, Curve DAO Token (CRV)<\/strong> at 16.16%, and Aave (AAVE)<\/strong> at 15.92%.\u00a0<\/p>\n

The top three altcoin losers of the week are Gala (GALA)<\/strong> at -8.57%, Axie Infinity (AXS) <\/strong>at -7.42%, and Optimism (OP) <\/strong>at -7.52%.\u00a0<\/p>\n

For more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n

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Read also<\/p>\n

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\n Features<\/span><\/p>\n

Tornado Cash 2.0: The race to build safe and legal coin mixers<\/p>\n

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\n Features<\/span><\/p>\n

Decentralized social media: The next big thing in crypto?<\/p>\n

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Most Memorable Quotations<\/strong>
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\u201cThere remains a real risk that the use of AI develops in a way that undermines consumer trust or is dominated by a few players [\u2026].\u201d<\/p>\n<\/blockquote>\n

Sarah Cardell<\/strong><\/a>, CEO of the U.K. Competition and Markets Authority<\/strong><\/p>\n

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\u201cDon\u2019t give up on the United States. This too shall pass, the confusion shall pass. The United States is a good place to build things, and I want it to stay that way.<\/p>\n<\/blockquote>\n

Hester Peirce<\/strong><\/a>, Commissioner of the U.S. Securities and Exchange Commission\u00a0<\/strong><\/p>\n

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\u201cIf the average end-user, who isn\u2019t a computer scientist, who doesn\u2019t understand blockchain, has to know about their private keys \u2014 we\u2019ve got it wrong. They have to be abstracted away,\u201d<\/p>\n<\/blockquote>\n

James Tromans<\/strong><\/a>, head of Web3 at Google Cloud<\/strong><\/p>\n

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\u201cBitcoin as a global monetary network is scaling while its carbon impact declines. Few industries can claim this achievement.\u201d<\/p>\n<\/blockquote>\n

Jamie Coutts<\/strong><\/a>, crypto market analyst at Bloomberg<\/strong><\/p>\n

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\u201cIt is an inevitable future where there will no longer be any intermediaries between fans and creators \u2014 this is an obvious but unrealized potential of blockchain technology.\u201d<\/p>\n<\/blockquote>\n

Leon Lee<\/strong><\/a>, founder and CEO of Only1<\/strong><\/p>\n

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\u201c[The U.S. government] can do a central bank digital currency if it\u2019s open, permissionless and private. It has to emulate cash.\u201d<\/p>\n<\/blockquote>\n

Tom Emmer<\/strong><\/a>, U.S. Representative<\/strong><\/p>\n

Prediction of the Week\u00a0<\/strong><\/h2>\n

Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radar<\/strong><\/p>\n

Bitcoin circled lower<\/a> after the United States Federal Reserve decision on interest rates, with $20,000 BTC price predictions resurfacing.\u00a0<\/p>\n

The aftermath of the Fed interest rates pause on Sept. 20 offered little for Bitcoin bulls, BTC\/USD having dipped almost $700 the day prior. Data from Cointelegraph Markets Pro and TradingView covered a lackluster 24 hours for BTC price action, with $27,000 fading from view.<\/p>\n

Now, market participants returned to a more conservative outlook in the absence of tangible volatility. \u201cSomething like this over the course of October would be perfect i would say,\u201d popular trader Crypto Tony told X (formerly Twitter) subscribers.<\/p>\n

\u201cSlow grind up to $28,500, followed by hype and FOMO, to then dump it once more.\u201d<\/p>\n

FUD of the Week\u00a0<\/strong><\/h2>\n
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Balancer blames \u2018social engineering attack\u2019 on DNS provider for website hijack<\/strong><\/h2>\n

Ethereum-based automated market maker Balancer believes a social engineering attack<\/a> on its DNS service provider was what led to its website\u2019s front end being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen<\/a>. Blockchain security firms SlowMist and CertiK reported that the attacker employed Angel Drainer phishing contracts. SlowMist said the exploiters attacked Balancer\u2019s website via Border Gateway Protocol hijacking \u2014 a process where hackers take control of IP addresses by corrupting internet routing tables. The hacker has already bridged some of the stolen Ether (ETH) to Bitcoin (BTC) addresses.<\/p>\n

Crypto influencer arrested in Hong Kong for JPEX association<\/strong><\/strong><\/h2>\n

A Hong Kong-based social media influencer has reportedly been arrested<\/a> after investigations around the liquidity crisis of the crypto exchange JPEX traced back their involvement. According to a local report, the Securities and Futures Commission of Hong Kong recently issued a statement blaming JPEX for actively promoting the platform\u2019s services and products to the public through online celebrities and over-the-counter money changers. Another unconfirmed report suggests that Lin Zuo presented \u201cschemes\u201d to a chat group created for cryptocurrency investment. Also related to this story, Hong Kong regulators are looking to tighten regulations<\/a> around the crypto market following the failure of JPEX, which led to the arrest of over six individuals.<\/p>\n

CoinEx hack: Compromised private keys led to $70M theft<\/strong><\/strong><\/h2>\n

Hong Kong-based cryptocurrency exchange CoinEx has revealed that compromised private keys allowed hackers to steal over $70 million<\/a> worth of tokens. According to CoinEx representatives, the amount represents a small percentage of its total assets under management. CoinEx stated that affected users will be compensated entirely for any lost funds. The exchange explained that a preliminary investigation pinned the root cause to a compromised private key for its hot wallets. These were used to store exchange assets for carrying out deposits and withdrawals.<\/p>\n

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\u2018AI has killed the industry\u2019: EasyTranslate boss on adapting to change<\/strong><\/h2>\n

If you\u2019re not transforming your business<\/a> to take advantage of AI now, you\u2019ll be left behind, says Easy Translate boss Frederik Pedersen.<\/p>\n

NFT Collector: William Mapan explains generative art using a crayon and dice<\/strong><\/h2>\n

What even is generative art?<\/a> William Mapan, whose 250-piece Distance collection just sold out at 2ETH each, explains using a crayon and die.<\/p>\n

JPEX staff flee event as scandal hits, Mt. Gox woes, Diners Club crypto: Asia Express<\/strong><\/strong><\/strong><\/h2>\n

Hong Kong crypto exchange<\/a> JPEX busted in $166M scam, Mt. Gox delays repayments yet again, oldest credit card company in Singapore moves into blockchain.<\/p>\n

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Cointelegraph Magazine writers and reporters contributed to this article.<\/p>\n<\/p><\/div><\/div>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Top Stories This Week SEC sees temporary setback in request to access Binance.US software The United States Securities and Exchange Commission has failed to win immediate access to Binance.US\u2019s software, with the judge saying he isn\u2019t \u201cinclined to allow the inspection at this time.\u201d The hearing was held on Sept. 18 to discuss the SEC\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":61231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[9114,7362,6865,17609,4358,605],"class_list":["post-61230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-binanceus","tag-delay","tag-gox","tag-repayments","tag-scores","tag-sec"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/09\/sep-23-scaled.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/61230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61230"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/61230\/revisions"}],"predecessor-version":[{"id":61232,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/61230\/revisions\/61232"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/61231"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61230"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}