Qredo’s daily briefing gives you the visibility you need of the ever changing world of crypto to help you make the best decisions and reach your financial goals.
The U.S. Securities and Exchange Commission (SEC) continues its crackdown on the industry, taking aim at Terraform Labs this time. The SEC sued the company behind the failed TerraUSD stablecoin and its co-founder Do Kwon on Thursday, Feb. 16. Terraform and Kwon are being charged for fraud and selling unregistered securities among a multitude of other charges. Terraform Labs made headlines in 2022 when their algorithmic stablecoin depegged from the dollar and plunged in value.
Mt. Gox’s top creditor has decided to take its chances on an earlier BTC payout, forgoing a higher payout that might be available if they were to choose to wait. This means the funds will likely get paid out in September 2023, nine years after its bankruptcy. Here’s a full rundown on what happened leading up to Mt Gox’s infamous fall from grace, resulting in the downfall of the biggest BTC exchange at the time.
Binance has been accused of moving $400 million from a U.S. partner to a firm managed by Binance CEO, Changpeng Zhao. A report revealed that the funds were moved over a span of three months from Binance’s Silvergate Bank account to Merit Peak, a trading firm that’s managed by Zhao. This report comes as the SEC continues its probe into Binance’s stablecoin, BUSD.