SEC Claims A Handful Of Tokens As Securities And Goes After The Big Players: Coinbase and Binance

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Here’s a quick rundown of your midweek update: Coinbase was hit with lawsuit from SEC for operating as “unregistered securities exchange”; SEC creates a list of 10 tokens that they consider securities; Apple announces new VR/AR headset; The crypto bear market will not go away without a fight. Ignore the FUD and keep on scrolling! ⛓👇🏼

• SEC files lawsuit against Coinbase for operating as “unregistered securities exchange” (SEC.GOV)

• SEC sues Binance for mishandling funds (TG)

• Investors pull $790M from Binance after SEC charges

• JPMorgan teams up wtih 6 Indian banks to test Blockchain platform (BLOOMBERG)

• South Korean is bullish on XRP (BW)

• Google searches for crypto are at record lows (CT)

• Facebook co-founder Eduardo Saverin has plans for a $500M fund that could include web3 and DeFi investments (iBTC)

• Tipalti lands $150M growth financing (FINTECH)

• Argus, a blockchain gaming studio, closes $10M seed round led by Haun Ventures (CD)

• DeeLance raises nearly $2M in public sale following recent $1.12M cash injection from Bitgert (CS)

• Aki Protocol raised an undisclosed amount from Akatsuki and Mask Network for a web3 campaign management platform for influencers (@oracle_xyz)

• SEC labels the following 10 tokens as securities: ADA, ALGO, ATOM, AXS, COTI, FIL, MANA, MATIC, SAND, & SOL (BW)

• Do Kwon bail set to $428K by Montenegro court (CD)

• UK lawmakers call for government role to oversee crypto regulation (CD)

• House GOP crypto bill lays out SEC and CFTC roles (PYMNTS)

• SEC motions to freeze Binance.US crypto assets (WGURU)

• Atomic Wallet users hacked for $35M BTC (CD)

• Atomic Wallet hacker sends crypto to Elliptic mixer used by Lazarus Group (CT)

• Atomic hack’s largest victim claims $2.8M USDT stolen (CPOT)

• Elliptic integrates ChatGPT to bolster crypto risk detection (CT)

• Reggie Fowler gets 6 years for crypto scheme ordered to forfeit $740M (BW)

• Web3 hacks in May decline to $19.7M (C.N)

• ETH cofounder transfers $41M to Kraken (TB)

• ETH gas fees are cooling down after meme coin frenzy settles (CT)

• Jack Dorsey implies ETH is a security via a tweet (CT)

• An individual opened $COIN puts 2 days ago that are now up 2800% + following Coinbase vs. SEC news (@unusual_whales)

• Brazilian crypto exchange Mercado licensed as payment provider (CT)

• FTX plans on SBF being freed (PYMNTS)

• New York’s Met Museum agrees to return $550K in FTX donations (CD)

• EA Sports announces partnership with Nike in web3 project .SWOOSH virtual experiences (EA)

• Hedera is leading the way in enterprise integration (CD)

• What is the End Game for liquid staking tokens? (MIRROR)

• How Apple’s ‘Vision Pro’ AR headset will change the metaverse (DT)

• Building more than just a community in web3 (e27)

• Financial models for web3 startups (e27)

• Blockchain and web3 could be a solution for businesses’ data breaches (BZ)

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