Crypto exchange Binance’s troubles seem far from over. This was because as per a latest development the exchange placed restrictions on new users from the UK in light of the new FCA rules for financial marketing.
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On 13 October, news broke that the SEC would not appeal the court’s decision on Grayscale’s Bitcoin ETF application. In light of the news, BTC moved past the $27k level.
Voyager Digital CEO and co-founder, Steve Ehrlich, was the target of the CTFC and FTC as the two entities filed fresh lawsuits against the co-founder blaming him for the the exchange going under.
Alameda CEO Caroline Ellison’s second day in court saw her reveal additional details about SBF and his plans. From bribing Chinese officials to plans of raising money from the Saudi Crown Price, it couldn’t get more absurd than this.
In a twist of events, Alameda’s CEO and SBF’s former girlfriend Caroline Ellison revealed that SBF directed her to commit financial crimes. Furthermore, SBF had aspirations of becoming the President of the United States.
As crypto exchanges Kucoin and Huobi made it to the FCA’s warning list for operating without permission, customers of this crypto platform will not be able to access the Financial Ombudsman Service that settles complaints between customers and financial service providers.
3AC’s founder Su Zhu was arrested by Singapore authorities on the Changi Airport as of 29 September 2023.
On 28 September, the delay of the approval of BTC ETFs came to light. The SEC chair, Gary Gensler cited that the approval was still under active consideration.
Binance Japan, in partnership with MUTB (a subsidiary of Mitsubishi USJ Financial Group), has plans to launch a new stablecoin in the Japanese market. This move came despite the exchange facing several legal issues in the West.
The US regulatory watchdog, SEC, raised concerns over Coinbase’s involvement in Celsius’ bankruptcy filing.
Business intelligence company, MicroStrategy made an addition to its existing BTC portfolio. Between 1 August and 24 September, the company bought an additional 5445 BTC. However, the price of BTC remained unchanged.
On 18 September, a U.S. court denied the SEC’s request to look into Binance U.S. The crypto exchange stood firm on its stance calling the regulatory watchdog’s request “overboard”.