Hello there and welcome to another news roundup from Coinigyon .
So, we can safely dedicate last week to the SEC.
After forcing Changpeng Zhao to resign as Binance CEO, they’re now after a new target...
According to Gensler and his goons, Kraken has been making hundreds of millions of illegal dollars in the US.
The good part is that this news hasn’t affected the overall market so much.
It’s not like when FTX and others did us dirty.
And on the brighter side, people are still optimistic about BTC—over 70% of its available supply hasn’t moved in the last 12 months 🤯
Something big is surely coming—maybe a full-blown bull market 👀
Just ensure to update and keep tracking your portfolio with Coinigy.
Here are the main highlights from last week
- Binance gets new CEO after Changpeng Zhao steps down: Who is Richard Teng?
- A whopping 70% of Bitcoin has just been chilling, not moving at all, for a whole year – a new record.
- SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency
- Bittrex Global, the crypto exchange, is ceasing operations shortly after its U.S. branch closure.
Binance gets new CEO after Changpeng Zhao steps down: Who is Richard Teng?
Founder-CEO of Binance, the world's largest cryptocurrency exchange Changpeng Zhao has stepped down from his role after pleading guilty to breaking US anti-money laundering laws. As part of the deal, Zhao is not allowed to take on a management position in the company for the next three years, as per reports.
A whopping 70% of Bitcoin has just been chilling, not moving at all, for a whole year – a new record.
Even though the value doubled, long-term investors were not interested in selling. Shockingly, 70.35% of Bitcoin's supply hasn't moved for at least a year, beating the last record of 69.35% in July. This is the first time in Bitcoin's history that so much of it has stayed put – more than 70%!
SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency
The SEC alleges that Kraken intertwines the traditional services of an exchange, broker, dealer, and clearing agency without having registered any of those functions with the Commission as required by law. Kraken’s alleged failure to register these functions has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.
Bittrex Global, the crypto exchange, is ceasing operations shortly after its U.S. branch closure.
Crypto exchange Bittrex Global is winding down operations just months after its U.S. arm was shut down, according to a Monday announcement. Trading on the platform will stop on Dec. 4, and the company urged customers to complete "all necessary transactions" by then, after which only withdrawals will be available.