This week has been seeing mixed developments in the crypto industry. The regulatory agencies are making stringent moves to target crypto entities. However, the positive initiatives within the market have kept on advancing despite the moves of the regulators. Nonetheless, the legal actions taken by the US Securities and Exchange Commission (SEC) against the top crypto exchanges have raised concerns. The US securities regulator has targeted Binance and Coinbase, raising apprehensions for the whole crypto world.
SEC Aims at Binance and Coinbase in Its Recent Lawsuit Filings
The SEC’s recent lawsuit filings accuse the well-known crypto exchanges called Binance and Coinbase of alleged law infringements. In its lawsuit targeting Binance, the securities regulator says also mentions the names of Binance.US and the chief executive officer Changpeng Zhao. As per the lawsuit, the respective parties allegedly offered unregistered securities and commingled user funds. It asserted that the unregistered offerings included BUSD stablecoin and the BNB token. It additionally accuses Zhao of controlling Binance.US.
The lawsuit against Coinbase accuses the exchange of carrying out unlicensed brokerage activities. As pointed out in the lawsuit, the platform allegedly operated its staking-as-a-service project without seeking any registration. In this way, the lawsuit says that the company has deprived its investors of crucial protections specified by the US securities regulator. These subsequent lawsuits indicate SEC’s endeavours to enforce regulatory abidance in the ever-growing crypto world.
Bitget Announces AI-Enhanced Martingale Plan to Facilitate Crypto Traders
The popular crypto derivatives trading company Bitget has disclosed an exclusive offering that would potentially empower and strengthen the traders. The plan is focused on providing remarkable investment strategies. The new plan is named AI-enhanced Martingale trading strategy. It targets offering an intelligent and smooth approach to both experienced and new traders to optimize their decisions. Traders can utilize this strategy for automating their investments by organizing investment frequencies and risk appetites.
Google Cloud Joins Forces with Cronos Accelerator Program for Sponsoring Web3-Based AI Innovation
Cronos Labs, the prominent blockchain startup accelerator, has declared an exclusive partnership with Google Cloud. The partnership focuses on providing resources to the startups. With this, the development of unique AI-enabled apps can be carried out to improve the Cronos ecosystem. The ventures will be permitted by the accelerator project to leverage Google Cloud’s AI capabilities. The project would help in the dApp scaling and advancement along with Web3 instrumenting and much more.
Microsoft Azure Marketplace Onboards Remarkable Solutions of Ankr
A collaboration has recently been carried out by Microsoft and Ankr to enrich Microsoft Azure Marketplace with Enterprise RPC services. The RPC service guarantees seamless worldwide connectivity as well as low-latency blockchain links. This enables the enterprises to focus on their chief objectives dealing with the development and expansion of Web3-based apps and projects. The partnership has been expanded to release AppChains which are advanced solutions. They fortify enterprises to release their unique dedicated and fully modifiable blockchains.
OKX Announces SSWP/USDT Trading and Suiswap Deposits
The prominent crypto exchange recently announced exclusive developments. The platform has enabled deposits in its native coin for the decentralized exchange Suiswap. This service will be started on the 12th of this month. The consumers of the spot market of OKX will shortly be permitted to trade Suiswap and USDT with the spot pair SSWP/USDT. This would expectedly improve the liquidity of Suiswap as well as improve the development of the trading ecosystem of the platform.
Binance Partners with Taiwan Law Enforcement to Deal with Cybercrime
The top crypto exchange Binance has announced a partnership with the Taiwanese Criminal Investigation Bureau (CIB). The platform revealed that its focus will be on fighting cybercrime. In addition to this, the crypto exchange also intends to join forces with law enforcement platforms in other jurisdictions. The ongoing endeavour takes into account contributions made by professionals to minimize the trends in dealing with crypto-related cybercrime.
Damien Ho, the Global Partnership head at Binance, remarked on this move and said that Taiwan is witnessing a growing crypto interest. As per the executive, this also requires more security endeavors. The Latest initiative of the famous crypto exchange points out its determination to increase security measures in the industry, despite the regulatory challenges.
