Is the US cryptocurrency exchange over or is the Binance lawsuit a big mistake[10 carefully selected books you want to read on Sunday]| CoinDesk JAPAN | Coin Desk Japan

Perhaps the most serious allegations are those reminiscent of the illicit ties between Sam Bankman-Fried’s crypto exchange FTX and hedge fund Alameda Research. The SEC alleges Binance has commingled billions of dollars in customer assets via an outside firm, Merit Peak Limited, owned by CEO Changpeng Zhao, in a column and analysis released this week. From articles, interviews, etc., carefully select 10 books you want to read on Sunday.

Is America’s Cryptocurrency Exchange Dead?

The U.S. Securities and Exchange Commission (SEC) has launched an all-out attack on the exchange industry by suing Binance and Coinbase, the world’s and U.S.’s largest crypto asset (virtual currency) exchanges, respectively. .

The SEC, led by Chairman Gensler, sued Binance on June 5 for 13 counts of serious misconduct. The charges include suspicion that Binance did not adequately separate its global and U.S. operations, that it put customers’ assets at risk, and that it made “a deliberate effort to circumvent the law.” is included. …read more

Why didn’t Bitcoin drop further? ──Crypto assets are not like securities, but like commodities

The SEC sued Binance on June 5 and Coinbase on June 6. The lawsuit has had a major impact on the two exchanges, with Binance seeing a large drop in net transfer volume and Coinbase’s share price dropping 20% ​​from the previous day’s close.

Meanwhile, Bitcoin (BTC) and Ethereum (ETH) are up 5% and 4%, respectively, over a 24-hour period. Bitcoin’s 5.4% drop on the previous day is not even in the top 50 daily declines from 2021 onwards. …read more

Binance Lawsuit Is a ‘Big Mistake’ or Brings Regulatory Clarity?

The US Securities and Exchange Commission’s (SEC) lawsuit against Binance would be a huge miscalculation if other countries allowed the development of the cryptocurrency industry, which would eventually replace the traditional banking sector. obtain. said Jim Bianco, founder and president of Bianco Research. …read more

SEC Lawsuit Accelerates Crypto Firms’ Leaving America

Some industry experts believe the US Securities and Exchange Commission’s (SEC) recent In the long term, the measures could bring regulatory clarity and benefit companies doing business in the United States.

But in the short to medium term, these companies may be forced to focus their efforts elsewhere. …read more

Binance Leads Coinbase Lawsuit: Reflecting on SEC Chairman Gensler’s Change in Stance

The U.S. Securities and Exchange Commission (SEC) has taken major legal action against Binance and Coinbase this week. Both exchanges claim they have violated federal securities laws.

At the center of this movement is Gary Gensler, who was nominated as SEC Chairman in February 2021. He makes remarks that completely deny the very existence of crypto assets (virtual currencies), and even seems to be the biggest enemy for the industry. …read more

Five-Year Bet on Ethereum, What’s the Result?

The bet, announced at CoinDesk’s Consensus conference in 2018, had a deadline of May 2023.

2018 is before the “DeFi Summer” of 2020, when DeFi (decentralized finance) products exploded on the Ethereum blockchain. Of course, that was before the huge bull market that collapsed in 2022, and long before the bankruptcies of FTX, Terra, Celsius, and others. …read more

Apple, Goldman Sachs Don’t Trust New Savings Service Customers

Users of Apple Savings, a savings service launched in the US in April by Apple in partnership with Goldman Sachs, have reported severe delays in withdrawals and transfers.

For many, $100,000 ($140,000) has been trapped in Apple Savings accounts, leaving customers struggling for weeks to get their money back. …read more

The Open Source Spirit of Crypto Assets Is Paying Off: OpenAI, Google Ready for Open Source

Polkadot, the blockchain created by legendary developer Gavin Wood after he left Ethereum, got a new privacy feature. …read more

RWA Tokens: Could It Be A Safer Option?

One of the most exciting use cases for blockchain is the tokenization of Real World Assets (RWA). According to a report by the Boston Consulting Group, the RWA market is expected to reach $4 trillion to $16 trillion (approximately ¥560 trillion to ¥2,240 trillion at an exchange rate of ¥140 to the dollar) by 2030. …read more

Volatility is at its lowest point, the dollar index is rising, what’s next?

It’s hard to characterize 2023 for both equities and crypto as we’re nearly half way through. Both domestically and internationally, the macroeconomic environment continues to be debated, with analysts racking their brains as to the next big move. … to read more

｜Text and editing: coindesk JAPAN editorial department
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