Best Twitter threads of the day – August 15th

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• Cryptocurrency exchange Binance pulls out of the UK market due to regulatory constraints

  TL;DR Breakdown Binance has withdrawn from key regions due to growing regulatory pressure, including the termination of its registration with the FCA in the UK. Binance’s subsidiary, Binance Markets Limited (BML), has been inactive in the UK since its acquisition in 2020. The termination of BML’s registration highlights Binance’s challenges in complying with regulatory requirements. Description Binance, the troubled cryptocurrency exchange, has withdrawn from key regions in response to mounting regulatory pressure. The UK-based subsidiary, Binance Markets Limited (BML), recently terminated its registration with the Financial Conduct Authority (FCA). This prompted the FCA to clarify that no Binance company can provide services in the UK. The FCA fulfilled Binance’s request to … Read more Binance, the troubled cryptocurrency exchange, has withdrawn from key regions in response to mounting regulatory pressure. The UK-based subsidiary, Binance Markets Limited (BML), recently terminated its registration with the Financial Conduct Authority (FCA). This prompted the FCA to clarify that no Binance company can provide services in the UK. The FCA fulfilled Binance’s request to revoke BML’s authorization on May 30, 2023, and confirmed in a…

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• B2C2 acquires Woorton to boost presence in European crypto market

  TL;DR Breakdown B2C2 acquires Woorton, aiming to bolster its European crypto market presence. The merger aligns with MiCA regulations, enhancing B2C2’s global crypto stance. CEO Nicola White sees the acquisition as pivotal for B2C2’s European growth. Description B2C2, a renowned crypto liquidity provider, has acquired Woorton. This acquisition aims to strengthen B2C2’s foothold in the European market. Woorton, a top European market maker, specializes in over-the-counter (OTC) transactions in the digital asset sector. Significantly, this merger is set to redefine the crypto market liquidity landscape. Moreover, it allows B2C2 to broaden its … Read more B2C2, a renowned crypto liquidity provider, has acquired Woorton. This acquisition aims to strengthen B2C2’s foothold in the European market. Woorton, a top European market maker, specializes in over-the-counter (OTC) transactions in the digital asset sector. Significantly, this merger is set to redefine the crypto market liquidity landscape. Moreover, it allows B2C2 to broaden its services within the European Union. This expansion aligns with the new regulations of MiCA (Markets in Crypto Assets Regulation). B2C2 is positioning itself as a formidable global contender in the…

  Article 2023年8月25日

• Gemini responds to SEC lawsuit, calling for dismissal of allegations

  TL;DR Breakdown Cryptocurrency exchange Gemini responds to SEC lawsuit by filing a reply brief, seeking the dismissal of allegations regarding unregistered securities in its Gemini Earn service. Gemini’s defense questions SEC’s failure to provide key details about alleged securities, emphasizing adherence to legal principles and the Securities Act’s plain language. Description Cryptocurrency exchange Gemini has filed a reply brief in the U.S. District Court for the Southern District of New York, seeking to dismiss a lawsuit brought against it by the United States Securities and Exchange Commission (SEC). The lawsuit alleges that Gemini’s service, known as Gemini Earn, breached securities regulations by offering unregistered securities. Gemini’s … Read more Cryptocurrency exchange Gemini has filed a reply brief in the U.S. District Court for the Southern District of New York, seeking to dismiss a lawsuit brought against it by the United States Securities and Exchange Commission (SEC). The lawsuit alleges that Gemini’s service, known as Gemini Earn, breached securities regulations by offering unregistered securities. Gemini’s forceful defense Gemini’s legal team, represented by JFB LEGAL, PLLC, and SHEARMAN & STERLING LLP, mounted…

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• Remitano cryptocurrency exchange faces $2.7M security breach

  TL;DR Breakdown Remitano crypto exchange suffered a hefty $2.7M loss, with Tether’s quick response freezing $1.4 million of the stolen assets. The Lazarus Group, linked to North Korea, is suspected behind this and other major crypto heists in 2023, prompting calls for heightened security measures. Description In the dynamic realm of digital currency, where innovations are rapid and global adoption is accelerating, security remains a paramount concern. Recent events have added fuel to these concerns, with the Remitano cryptocurrency exchange witnessing a staggering loss of $2.7 million. This breach, part of a series of sophisticated cyberattacks on crypto platforms in 2023, … Read more In the dynamic realm of digital currency, where innovations are rapid and global adoption is accelerating, security remains a paramount concern. Recent events have added fuel to these concerns, with the Remitano cryptocurrency exchange witnessing a staggering loss of $2.7 million. This breach, part of a series of sophisticated cyberattacks on crypto platforms in 2023, sends a clear signal about the lurking vulnerabilities within the system.  Contents hide 1 The event unfolds: Remitano’s dark hour 2…

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• Glassnode report suggests Bitcoin has strong support under $30,000

  TL;DR Breakdown Glassnode has noted in its report that Bitcoin has strong support under $30,000 due to strong investor holdings. The firm still sees slight problems with the digital asset in the coming months. Description Bitcoin’s supply distribution reveals a robust foundation of investor holdings below the $30,000 level, indicating substantial price support at its current range, according to the on-chain analytics platform Glassnode. In a recently published report, Glassnode highlighted the coin’s profit/loss ratio, which currently stands at 75:25. This means that only a quarter of all Bitcoins were … Read more Bitcoin’s supply distribution reveals a robust foundation of investor holdings below the $30,000 level, indicating substantial price support at its current range, according to the on-chain analytics platform Glassnode. In a recently published report, Glassnode highlighted the coin’s profit/loss ratio, which currently stands at 75:25. This means that only a quarter of all Bitcoins were acquired at prices higher than the current level of approximately $30,000. Glassnode says investor holdings will support Bitcoin under $30,000 Notably, the majority of long-term holders comprise this cohort, comprising either battle-hardened…

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