senoleir

@senoleir

485 Following

21 Followers

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Cotton-like clouds drift lazily across the endless blue sky

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The regulator has also recently announced it had dropped its investigation into non-fungible token (NFT) companies Yuga Labs and OpenSea, and crypto exchanges Gemini and Uniswap Labs.

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It’s the latest crypto-related lawsuit the SEC has agreed to drop. It has previously dropped cases against crypto exchanges Coinbase and Kraken, along with crypto firm Consensys.

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Cumberland said the filing was agreed in principle between Cumberland DRW and SEC staff on Feb. 20 and is currently awaiting the agency’s approval.

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“Today we signed a joint filing to be made with the Securities and Exchange Commission (SEC) dismissing its case against Cumberland DRW,” Cumberland wrote in a March 4 X post.

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Bitcoin’s ability to remain above the $80,500 threshold may act as a “potential catalyst for market stabilization,” according to Stella Zlatareva, dispatch editor at digital asset investment platform Nexo.

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Swiss National Bank (SNB) President Martin Schlegel reportedly doesn’t want to make Bitcoin a reserve asset in Switzerland — citing a lack of stability, liquidity concerns and security risks.

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To adequately protect consumers, stablecoin issuers must be forced to hold cash to back the stablecoin liability, Long said.

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The FBI has called on Remote Procedure Call node operators, exchanges, bridges, blockchain analytics firms, decentralized finance service providers and others to block transactions linked to TraderTraitor.

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The move follows the Feb. 21 Bybit hack, the largest crypto exchange breach in history. Blockchain investigators, analytics firms, crypto exchanges and network protocols have since worked together trying to trace and recover the stolen funds.

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According to FOX Business reporter Eleanor Terrett, the joint motion is the first requested pause on crypto litigation since Uyeda was named the acting SEC chair on Jan. 20.

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“We are grateful to interim Chairman Uyeda for his thoughtful approach to ensuring digital assets receive the appropriate legislative and regulatory focus in this new, golden era of blockchain in the US and around the world,” a spokesperson for Binance told Cointelegraph.

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“As this is a joint motion, there is no prejudice to any party here, and a stay could save the parties resources because, if an early resolution could be reached, it would obviate the need to continue merits discovery,” the parties said.

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Following the 60 days, the SEC and Binance plan to issue a joint report on whether a continuation of the stay would be warranted.

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According to some industry observers, other crypto firms like Ripple, Coinbase and Kraken will likely follow suit by filing similar joint motions with the SEC.

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“The work of this task force may impact and facilitate the potential resolution of this case,” the SEC and Binance wrote in the motion.

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The US Securities and Exchange Commission (SEC) and Binance filed a joint motion to pause their legal case for 60 days, marking the first move toward halting major cryptocurrency litigation since Mark Uyeda took over as acting SEC chair.

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The SEC removed the message and officially announced greenlighting the investment vehicles less than 24 hours later.

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Council has been accused of being a member of the group that temporarily took control of the SEC’s X account in January 2024 through a SIM swap attack. The breach allowed the hackers to post a false message featuring an image of then-SEC Chair Gary Gensler announcing the approval of spot Bitcoin ETFs.

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