CryptoBeaver

Binance, the world's largest crypto exchange, was criminally charged with breaking sanctions and money-transmitting laws and agreed to pay $4.3 billion to settle the allegations in "one of the largest penalties" the U.S. has ever obtained from a corporate defendant. Founder Changpeng "CZ" Zhao pleaded guilty in Seattle to charges he personally faced and agreed to pay a $50 million fine, as well as step down from the CEO job. Richard Teng, a former Abu Dhabi regulator and later Binance's regional markets head, will take over as CEO.

 Some residents of the city of El Paso in the US state of Texas have received a legitimate-looking letter from scammers impersonating as Federal Bureau of Investigation (FBI) asking to pay cryptocurrencies. The FBI has warned locals of a crypto scam that convinces victims to send cryptos and other funds. The scammers claim to be the head of the local field office in a fake government document.

 While the SEC states its mission is to protect investors, there are questions about its methods and motives. This piece unravels the SEC’s structure, balance sheet, and notable interactions with cryptocurrency entities, providing an insightful and comprehensive look at a complex issue. Hailed as a beacon of free market principles, the cryptocurrency market is going through an intriguing phase. It’s an era where the invisible hand of the market meets the tangible fist of regulation.  The US Securities and Exchange Commission (SEC) sits at the eye of this storm. The regulator finds itself walking a tightrope – protecting the interests of investors while navigating the rapidly evolving crypto landscape. 

Casey Rodarmor, the person behind bitcoin ordinals, reveals he will step aside from his role, with the platform reaching a milestone of over 10 million user registrations. Casey Rodarmor, the brain behind bitcoin ordinals, took to Twitter today, sharing two significant developments: now there are more than 10 million user registrations on the platform, and his decision to step down from his current role.

Samsung Electronics and the Bank of Korea (BOK) have announced a partnership to conduct joint research, focusing on the development of an offline payment system for a central bank digital currency (CBDC). The South Korean tech giant Samsung Electronics and the Bank of Korea (BOK) have announced a partnership. They are joining hands to drive research and innovation in the domain of central bank digital currencies, also known as CBDCs. This collaboration was formalized via a Memorandum of Understanding (MOU), signed at Samsung’s main base in Suwon, Gyeonggi Province. The venture will focus on the potential of the CBDC issued by the BOK and its application in the offline payment industry.

Binance, the world’s largest cryptocurrency exchange, has re-opened bitcoin (BTC) withdrawals after a 1-hour suspension, the latest data on May 7 shows. Binance halts BTC withdrawals Binance said they were halting withdrawals on the Bitcoin network due to what they describe as “severe congestion”.

 Bitcoin adoption has picked up the pace recently as investors acquire more of the leading crypto asset. With several market analysts giving their takes on the key driver behind this renewed surge, MicroStrategy’s former CEO, Michael Saylor, recently expressed his view on the matter. Inflation and Counterparty Risks Drive Bitcoin Adoption In a recent CNBC interview, Saylor noted that two dynamics are pushing the broad adoption of Bitcoin. He revealed that the first one is the concern about inflation.