• The SEC filed charges against Justin Sun and three companies which he is linked with. • Huobi Global advisor, Justin Sun said in a series of tweets that Huobi believes the effects of recent charges have come to an end. • He claimed that the exchange only saw a net withdrawal of $30 million …
Silicon Valley Bank Parent Firm Files for Bankruptcy Protection
• Silicon Valley Bank’s parent firm, SVB Financial Group, has filed for bankruptcy protection. • The filing was submitted in the Southern District of New York to explore strategic alternatives as determined by a board-appointed restructuring team. • Customers of Silicon Valley Bank will receive funds from the FDIC and the Biden administration and U.S …
SEC Issues Wells Notice: What It Is & Why More May Be Coming
• On February 21, Paxos halted the issuance of new BUSD tokens after it was given a Wells Notice by the SEC. • The SEC issued a Wells Notice to Paxos indicating that they were under investigation for unregistered BUSD tokens. • The Wells Notice provides respondents with an opportunity to submit a written statement …
Coinbase Acquires One River Digital Asset Management
• Coinbase subsidiary will emerge from the acquisition of One River Digital Asset Management (ORDAM) to enhance institutions‘ access to crypto assets. • ORDAM’s current CEO, Eric Peters, will remain in his duty and continue chairing CBAM after the acquisition. • Coinbase and ORDAM share an ethos grounded in prudent risk management, a trait which …