The collapse of the business wiped clean investments from a lot of users, many of whom are still waiting on what remains on the company's estate to be redistributed.
Crypto.com launched the alpha of its institutional investor crypto service in the US in March 2022.
The commission-free trading platform shared that it will end its support for Cardano, Polygon and Solana crypto assets at 6:59 p.m. ET on June 27.
Binance.US also announced delisting of USD trading pairs next week and the imminent pause of fiat withdrawals starting June 13.
Aside from his legal battle in Montenegro over his alleged forged travel documents, the country's prime minister has also ordered the prosecution to investigate Kwon's ties with the leader of the Europe Now political party.
"As we conveyed nearly four months ago, Mr. Gensler should have been recused from any consideration in this matter based on this history and the prospect that Mr. Gensler may be a material fact witness," Binance's lawyers told the SEC in a letter.
Consumer agencies can charge fines against violators of consumer law in principle, but the latest action by the BEUC underlines that it wants harsher penalties for subjects of the complaint.
Aside from his over six years of prison sentence, the 64 years old businessman from Arizona was ordered by the court to "pay a forfeiture of $740,249,140.52 and restitution in the amount of $53,189,261.80 to the AAF."
Changpeng Zhao is no stranger to FUD or the crypto speak for fear, uncertainties and doubts, since Binance has become a magnet of a lot of controversies over the past years.
While former Finance Minister Milojko Spajić confirmed he knew Kwon, he denied the crypto executive's claim and called him a "fraudster who defrauded millions of people."
The court will also look into the authenticity of the identity cards and travel documents of the TFL executives since Kwon's lawyer claimed the CEO's Costa Rican passport was obtained legally.
"We continue to believe that rules of the road, from legislation or rulemaking or both, must come before enforcement actions. That is why we petitioned the SEC for rulemaking nearly a year ago in the first place," Coinbase chief legal counsel Paul Grewal said.
While the Binance and Coinbase CEOs lost part of their personal wealth in the wake of the SEC lawsuits, their collective losses account for only 14.3% of their collective gain in the early part of 2023.
Binance immediately responded to the news about the SEC filing the emergency motion in an attempt to quell potential unrest and anxiety among its clients, and called the motion "unwarranted" and executed on an "expedited basis."
The team is "doing everything they can to get those funds back," Atomic Wallet chief marketing officer Roland Säde said, adding that "in order to create a concrete plan, the investigation must be completed."
Musk's tweet about DOGE, unfortunately, was not impactful enough to fuel a price surge, considering the doom and gloom of the SEC lawsuits against major crypto exchanges that dampened sentiments.
A crypto wallet is an application that enables users to store keys that access cryptocurrency through a blockchain. You'll also hear the term digital wallet used interchangeably with crypto wallet.
The lawsuits against Binance and Coinbase, according to the SEC chairman, took a while to produce due to the amount of work required.
The SEC filed a lawsuit against Coinbase on Tuesday alleging that the exchange has been operating an unregistered exchange, broker, and clearing agency.
The SEC sued Coinbase on Tuesday just a day after filing 13 charges against major exchange platform Binance.
The entire cryptocurrency market wallowed in the puddle of red on the news, showing up to double-digit losses particularly observed in the tokens the SEC deemed as securities.
The financial regulator's action was not taken lightly by the crypto community, with its personalities immediately viewing the move as "an act of war."
Like money, trust is hard to earn but easy to lose. And once it's gone, it can't be restored in a hurry.
While Multichain has not yet officially released any updates related to the resumption of halted cross-bridges operations on its official Twitter account, industry experts confirmed transactions happening on the troublesome protocol.
Binance allegedly established Binance.US as a protective shield for Zhao and the main company.
Marat Tambiev's court appearance is set for Monday, during which the prosecutor aims to confiscate all of his alleged unlawfully acquired funds.
With the help of Progmat Coin, banks will be able to issue their own stablecoins on blockchains like Cosmos, Avalanche, Polygon and Ethereum with more networks to be added soon.
The Metropolitan Museum of Art is the latest to join the list of entities and individuals that are returning donations received from fallen cryptocurrency exchange FTX.
Rosbank said that while the initiative is already rolling out, transactions are in compliance with the country's legislative requirements, the guidelines provided by the central bank , as well as the bank's own compliance policy.
Montenegro prosecutors now have three days to appeal against the court's ruling after it decided to release the Terraform Labs' CEO and his associate from detention.
