Fundamental Profitability Issues
In the world’s most famous crypto bankruptcy, Cyprus Keeps FTX Europe License Suspended Until September (Cointelegraph) / Another Extension: CySEC Suspends FTX EU's License Until September (TradingView).
FTX’s Toxic Legacy
In a whoops nasty moment: FTX Controversy Derails Top Law Firm's Bid For Binance Role (Bloomberg). Due to the complaints heaped upon it by SBF and thus the risk some of that may stick on appeal. Sullivan & Cromwell have not been given a key Binance oversight role by the US DOJ it seems.
Energy Crunch
Way back when data centres became a pivotal force in managing market infrastructure and indeed broader finance as a whole.
COIN Tries Again
It’s another round of appeals for COIN as the winners in the crypto economy remain the lawyers: Coinbase Asks To Appeal Part Of Case Against US SEC (Reuters) as it seeks to stop the SEC asserting the Howey Test and securities law over, er, securities like cryptocurrencies.
T+1 is Salame’s D Day
Salame (apparently pronounced “Salem” - make of that what you will) will now have his D-Day with sentencing on the day stock markets move to T+1.
240 Exchange Invest Weekly Podcast April 13th, 2024
FEX Global Offer Puts Australia In Play,
NASDAQ Seeks A New Formula For The Cloud, There's Talk Of Approval For An NSE IPO, Gary Gensler’s Green Zeal Is Postponed, LSE Investors Launch An ODD Pay Revolt, & US T+1 Is Looming In <30 Working Days
Back in God Mode
Binance had roots in Malta but as we know when regulation had to be complied with, the exchange was long gone.
Trying to Reset
Vendor Sui Network specifically discusses their work with the Athens Stock Exchange.
World Class - No KYC?
“FuturesAI is a world-class no KYC futures trading platform.” If it’s just technology fine but I fear it’s promoting a path that ends up only in court and likely jail…
Do Kwon Loses In Absentia
“A jury in Manhattan found Singapore-based Terraform Labs and its founder Do Kwon liable on civil fraud charges on Friday, agreeing with the U.S. Securities and Exchange Commission that they misled investors before their stablecoin's 2022 collapse shocked cryptocurrency markets.”
An Absence of Trust
Markets depend on trust and credibility notes the SEC head of enforcement in a must read speech. Not sure all in crypto agree but his argument is fair and rational going through the history of efforts to believe crypto was above regulation to seeking to avoid regulatory fiat…
Crime, Punishment & A few Positives
Let’s face it this is dispiriting, there are so many crypto V1.0 types in jail or under charges that it’s difficult to see the wood for the trees in the benefits of crypto and blockchain. The problem is the dubious end of the spectrum involves numerous identities who are reluctant to ship out.
Zero Guilt Protocol
Let’s start with a positive, the Tel Aviv Stock Exchange Plans To Let Customers Of Its Non-Bank Members Trade Crypto (Binance).
Sam’s Quarter
…Quarter Century that is: FTX’s criminal founder and CEO was sentenced to 25 years Thursday.
Vegans For Mercy
Bloomberg is more sanguine: Sam Bankman-Fried Sentencing: FTX Co-Founder SBF Faces Decades In Jail.
