• Midas Crypto
  • Posts
  • 🌙 Lawmakers Call on DOJ To Consider Charges Against Binance

🌙 Lawmakers Call on DOJ To Consider Charges Against Binance

Lummis and Hill asked the Justice Department in a letter on Thursday to “carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism through violations of applicable sanctions laws and the Bank Secrecy Act.”

Author

Mike Gavela
October 26, 2023

Crypto Roundup - Oct 26

Senators Cynthia Lummis and Rep. French Hill are pressing the DOJ for rapid action against Binance and Tether, citing illicit activities and highlighting frozen accounts linked to Hamas. With ongoing investigations, the lawmakers demand a swift resolution. JPMorgan warns that SEC rejections of bitcoin ETFs could lead to lawsuits, though multiple approvals are anticipated soon amidst a bitcoin rally driven by institutional interest. Concurrently, FTX-linked wallets have transferred over $10 million to exchanges, drawing attention during the FTX estate’s bankruptcy proceedings.

Top Stories:

  1. Urgent Call for DOJ Action: Lawmakers pushing for decisive action against Binance and Tether, citing illicit activities.

  2. Potential SEC Legal Challenges: JPMorgan predicts lawsuits and anticipates multiple bitcoin ETF approvals.

  3. FTX-Linked Wallet Activity: Over $10 million moved to exchanges, highlighting the FTX estate’s ongoing bankruptcy proceedings and asset management.

TOP STORIES

Lummis, Hill push for ‘swift’ DOJ action against Binance, Tether

Lummis and Hill want the DOJ to investigate — and potentially take action — to “choke off sources of [terror] funding.”

blockworks.co/news/doj-binance-tether-terror-funding

JPMorgan says an SEC rejection of spot bitcoin ETFs could lead to lawsuits

Should the SEC reject spot bitcoin ETF applications, it may face legal action from applicants, according to JPMorgan analysts.

www.theblock.co/post/259616/jpmorgan-bitcoin-etf-sec-lawsuits

FTX-linked wallets move over $10 million in fresh transfers to exchanges

Crypto addresses connected to FTX transferred over $10 million to centralized exchanges, on-chain data shows.

www.theblock.co/post/259606/ftx-linked-wallets-move-over-10-million-in-fresh-transfers-to-centralized-exchanges

FUNDRAISES

OTHER HEADLINES

Bitcoin’s Recent Outperformance Fueled by Institutional Demand, JPMorgan Says

There has been a significant bitcoin inflow into larger wallets, which suggests institutional investor demand, the report said.

www.coindesk.com/markets/2023/10/26/bitcoins-recent-outperformance-fueled-by-institutional-demand-jpmorgan-says

Circle partners with Taiwan’s BitoGroup and FamilyMart to expand presence

The USDC issuer said that it's launching a service to allow customers to redeem their FamilyMart loyalty points for cryptos like USDC.

www.theblock.co/post/259590/circle-partners-with-taiwans-bitogroup-and-familymart-to-expand-presence

Solana Labs plans to grow ecosystem through new incubator program

Solana Labs will provide guidance around engineering, fundraising and go-to-market strategies to support the work of interested startups.

blockworks.co/news/solana-developers-web3-ecosystem

Arbitrum Foundation Says 'Orbit' for Layer-3 Networks Now Ready for Mainnet

Orbit is a program for developers to spin up their own layer-3 blockchains atop Arbitrum, which in turn is the largest layer-2 network atop the Ethereum blockchain.

www.coindesk.com/tech/2023/10/26/arbitrum-foundation-says-orbit-for-layer-3-networks-now-ready-for-mainnet

CRYPTO TWITTER (X)

SHARE!

Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 20,000 investors and crypto degenerates who read Midas Crypto daily!