Crypto Guides, Knowledge & Insights

SEC Chair Gary Gensler Warns The Crypto Frenzy To Investors

SEC Chair Gensler believes that most crypto tokens are securities and must be regulated by the SEC.　　He emphasizes that the crypto markets should not harm investors or undermine public trust in the capital markets.　　Ongoing lawsuits against Coinbase and Binance reflect Genslers strong stance on crypto regulation.　　SEC Chair Gary Gensler has publicly shared his views on cryptocurrencies and the frenzy surrounding them many times. However, his latest speech at the Piper Sandler Global Exchange and FinTech Conference in New York City has put a spotlight on his strong stance on the matter.　　Gensler has doubled down on his opinion that most crypto tokens are securities and come under the purview of the SEC. He believes that the current crypto frenzy is reminiscent of what the US experienced in the 1920s before federal securities laws were put in place. Gensler also criticized exchanges that list such tokens, saying they must register with the regulatory agency.　　Gensler emphasized that the crypto securities markets should not be allowed to undermine the publics trust in the capital markets. He stated that the well-earned trust that the public has in the capital markets should not be undermined by such markets. He also added that the crypto markets should

2023-06-09Deep Dive

Rumor: Gary Gensler Accused Of Market Manipulation In $2.5 Million Short Position

Gary Gensler, chairperson of the U.S. Securities and Exchange Commission (SEC), has been accused of market manipulation by shorting Bitcoin (BTC) and other crypto-focused stocks.　　Coinbase, one of the largest cryptocurrency exchanges, is rumored to have evidence supporting the allegations against Gensler.　　Gary Gensler, chair of the SEC, is accused of market manipulation. Coinbase may have evidence of Gensler shorting BTC. Allegations are unverified.　　Recently, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), has been accused of market manipulation. The petition has been started against the SEC chair.　　According to a source named Capo WSB, Coinbase, one of the largest cryptocurrency exchanges, is rumored to have evidence that Gensler placed substantial short positions in Bitcoin (BTC), amounting to over $2.5 million, barely 48 hours ago. Although the specifics of this information have yet to be made public, the evidence is believed to be solid enough to warrant serious examination and further research.　　The potential consequences of these claims extend beyond Gary Genslers career. They could also threaten the credibility of the SEC, the primary regulatory organization for financial and securities markets in the United States. As Chairperson of the SEC, Gensler is responsible for ensuring fair and transparent markets. However, it is

2023-06-09Deep Dive

ChatGPT Predicts: Things That Will Trigger the Next Bitcoin Bull Market

From market and institutional adoption, to regulatory clarity and the BTC halving – these are the factors that will drive the next bull market, according to ChatGPT.　　Bitcoin has undergone numerous ups and downs in its relatively short history, but only a few have been proclaimed as a full-on bull market. The latest one was back in late 2021 when the cryptocurrency skyrocketed to its ATH of $69,000.　　What followed was a massive price decline that resulted in BTC dumping all the way down below $20,000 amid multiple collapses in the industry, as well as galloping global inflation and war in Europe.　　As bitcoin has recovered a lot of ground since its sub-$16,000 endeavor, the community frequently speculates whether a new bull market has already started or is it right around the corner. In this topic, we will explore what the AI chatbot ChatGPT thinks about it.　　Adoption　　Although ChatGPT has had a few things wrong about BTC, such as its all-time high price, the chatbot provided some interesting findings on what could propel the next bull market. First and foremost, it highlighted global adoption, which comes in two parts – market and institutional – and we have combined them into one.　　As far as market

2023-06-08Deep Dive

Hong Kong Regulator Backs Tokenisation In Finance For Better Access To Crypto

Hong Kongs Securities and Futures Commission (SFC) expresses support for tokenisation in finance, with plans to amend policies for better access to cryptocurrency investments.　　The SFC ensures investor protection and cybersecurity while exploring the benefits of tokenisation for improved efficiency.　　Franklin Templeton Investments is optimistic about the potential of blockchain and tokenisation, focusing on digital assets and a recent US-registered mutual fund using Polygon blockchain for transactions and record-keeping.　　Hong Kongs SFC supports tokenisation in finance, ensuring cybersecurity and investor protection. Blockchain enhances efficiency. Franklin Templeton also bullish.　　Hong Kongs Securities and Futures Commission (SFC) recently expressed its support for the use of tokenisation in the financial industry. Elizabeth Wong, head of the financial technology department of the SFC, said that the commission will continue to amend and evolve policies for better access to cryptocurrency investments.　　The SFC has already provided certain regulatory oversight and investor protection to licensed virtual-asset platforms. Wong added that the SFC will apply the same code of conduct to fund managers looking to invest portfolios in virtual assets. Blockchain technology can ensure or enhance efficiency, according to Wong.　　The watchdog is actively looking into the benefits of tokenisation while also ensuring that investors are not any worse off. Cybersecurity is the

2023-06-08Deep Dive

Binance.US Paused OTC Trading Against The Strong Onslaught Of The SEC

Binance.US has announced the suspension of its OTC Trading Portal.　　On June 8, the exchange will likewise delist trade pairs.　　The action comes after the Securities and Exchange Commission of the United States sued Binance on June 5, saying that the company committed breaches that should ban the exchange and its CEO from doing further business in the United States.　　Binance.US, the U.S. arm of the crypto exchange Binance, said on Wednesday that it has chosen to suspend its over-the-counter trading service.　　The exchange also announced the suspension of its OTC Trading Portal, an “over-the-counter” trading method that allows buyers and sellers to trade without the use of a public order book.　　Binance has been in the news for three days in a row. On June 5, the SEC filed a complaint against the crypto exchanges US subsidiary.　　On June 5, the US Securities and Exchange Commission (SEC) filed a complaint against Binance and billionaire Changpeng Zhao (CZ) in federal court in Washington, outlining 13 accusations. According to the SEC, Binance overstated trade volumes, steered client money, did not exclude Americans from the platform, and deceived investors about its market control procedures.　　On Monday, the US regulator said that Zhao and his exchange tried to circumvent “their

2023-06-08Deep Dive

Coinbase Is Still A Winner Despite SEC’s Attempt To Slow Down Crypto Industry

The SEC‘s attempt to regulate Coinbase is unlikely to succeed due to the company’s strong regulatory compliance and public status.　　The SEC‘s recent move to go after Coinbase has caused concern within the crypto community as it is seen as an attempt to regulate the industry. However, many experts believe that the SEC’s effort to regulate Coinbase will not succeed.　　As stated by the Helius CEO, Coinbase is the most regulatory-compliant firm in the crypto industry and has created thousands of jobs. Its regulatory compliance is one of its strongest selling points and has been a major reason for its success. The company is also a public company, which makes it more difficult for the SEC to regulate it.　　Additionally, Coinbase has been preparing for this kind of regulatory scrutiny for years, adding world-class legal, policy, and regulatory talent to its team. This talent has been instrumental in helping Coinbase navigate the complex regulatory landscape of the crypto industry. The companys legal team is considered world-class, and its CEO, Brian Armstrong, is known for being a killer in the industry.　　The SEC‘s attempt to slow down the crypto industry is nothing new, as similar attempts have been made in the past against other industries

2023-06-07Deep Dive

SEC Cracks Down On Binance and Coinbase, DeFi Trading Skyrockets by 444%!

Decentralized exchange trading volumes surged 444% in 48 hours following SEC crackdown on Coinbase and Binance.　　Daily trading volume on top 3 DEXs increased by over $792M between June 5 and June 7.　　Net outflows on Binance reach $778M as DEX volumes briefly surpass those of Coinbase.　　US securities regulator against cryptocurrency exchanges Coinbase and Binance have caused a ripple effect in the crypto world.　　This has resulted in a significant increase in the median trading volume across the top three decentralized exchanges (DEX) in the past 48 hours, as investors try to find a safe haven.　　According to aggregated data from CoinGecko, Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum) and Pancakeswap V3 (BSC) — which account for 53% of the total DEX trading volume in the last 24 hours — saw an increase of more than $792 million between June 5 and June 7. This represents an increase of 444% in median trading volume across the top three DEXs.　　Trading volume on Uniswap V3 (Ethereum) in the last 7 days. Source: CoinGecko.　　In addition to this, the trading volume on Curve, a DEX that allows for the trading of stablecoins, spiked by 328%. Trading activity on Curve is currently focused on trading the U.S. Dollar-pegged stablecoins USD

2023-06-07Deep Dive

SEC Files Emergency Motion To Freeze Binance’s U.S Subsidiary

The SEC filed an emergency motion to freeze assets of Binances US subsidiary and repatriate cash and cryptocurrency assets held on the Binance platform.　　Binance has responded, stating that the platform remains fully operational and that user assets are safe and secure.　　The SEC asked a Washington, D.C. federal judge to freeze the assets of Binances U.S. subsidiary. The emergency order was filed late Tuesday night. It would also force the repatriation of “fiat currency and crypto assets deposited, held, traded, and/or accrued by customers on the Binance U.S crypto asset trading platform.”　　The SEC alleges that two foreign entities, Sigma Chain and Merit Peak, served as conduits for billions of dollars of customer money improperly commingled with Binance‘s funds. This has led to concerns about the safety and security of the platform’s users and the future of Binances US operations. The regulator argues that the emergency order is necessary to prevent the dissipation of available assets for any judgment, given the Defendants years of violative conduct and disregard for US laws.　　On Monday, the SEC filed a lawsuit against Binance and its founder, Changpeng Zhao, alleging that the exchange and Zhao had defrauded investors, improperly commingled funds, and operated as an unregistered broker,

2023-06-07Deep Dive

The Lawsuit Against Binance Of The SEC Shows $115 Billion Of Crypto Is A Security

The Securities and Exchange Commission (SEC) charged Binance, the worlds biggest cryptocurrency exchange, on Monday with mishandling client cash and lying to US authorities and investors about its operations in a broad lawsuit that may reshape the landscape of power and riches in crypto. When combined with additional tokens like XRP that have been individually targeted by the SEC, the agency has now classified roughly $115 billion in coins as unregistered securities.　　The US Securities and Exchange Commission brought 13 allegations against Binance, including unregistered offers and sales of BNB tokens, the Easy Earn and BNB Vault products, and its staking program. Moreover, the SEC claims in the lawsuit that Binance failed to register its Binance.com platform as an exchange or a broker-dealer clearing agency.　　Moreover, it argues that Binance and BAM Trading, Binance.US legal company, failed to register Binance.US as an exchange, broker, and clearing agency. As a “controlling person,” CZ was accused.　　According to the lawsuit, tokens traded on the Binance market constituted securities. These tokens include BNB, BUSD, Solana, Cardano, Polygon, Filecoin, Cosmos, The Sandbox, Decentraland, Algorand, Axie Infinity, and COTI.　　According to a Bloomberg article, the SEC‘s list of digital tokens considered unregistered securities now exceeds $115 billion in crypto

2023-06-06Deep Dive

Google searches for ‘crypto’ fall to 2020 levels as BTC sentiment neutral

With a score of 17 out of 100, online interest in crypto has taken a big hit from its highest levels reached in May 2021.　　A two-month-long lull in cryptocurrency optimism has seen online search interest for “crypto” and other common cryptocurrency terms stumble down to late 2020 levels.　　According to data from Google Trends, the term “crypto” currently has a score of 17, which is well off its reference point of 100 in May 2021. Bitcoin　　BTC$25,749 and Ethereum has followed a similar downward trajectory.　　However, search interest for these terms has been in a relatively consistent decline since May 2022, about a month after much of the Terra Luna ecosystem collapsed. A small spike in interest came in early November when the crypto exchange FTX collapsed.　　Search interest over time for the word “crypto” Source: Google Trends　　The fall in interest comes as Bitcoin has held steady at around $28,000 for 10 weeks now — price action that Galaxy Digital CEO Mike Novogratz recently described as “lackadaisical” and caused by a lack of “institutional excitement right now.”　　Guy Turner, commonly known as “Coin Bureau Guy,” suggested in a June 4 Twitter post that the fall in interest also coincides with lower trading volumes on exchanges,

2023-06-06Deep Dive

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