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Despite Binance Holdings Ltd.’s recent $4.3 billion settlement with the U.S. Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC) is persisting with its case against the company and its founder, Changpeng Zhao. SEC says Binance, DOJ settlement supports case The SEC filed a lawsuit in June, claiming that Binance and Zhao were involved in deception, conflicts of interest, lack of disclosure, and evading the law. The SEC contends that admissions in the DOJ settlement support its case, urging the federal court in Washington to consider them. While Binance and Zhao seek dismissal, the SEC is determined to move its case forward. In the U.S. District Court for the District of Columbia, the SEC’s complaint alleges that Binance.com and Binance.US operated as unregistered exchanges, brokers, and clearing agencies, exposing investors to risks and conflicts of interest. SEC Chair Gary Gensler also alleges that Binance misled investors about risk controls...

Aragon DAO votes to sue its founders after they unilaterally decided to dissolve its governing body and reallocate assets. The members of Aragon DAO, a platform that allows developers to create and scale DAOs without coding, have decided to initiate legal proceedings against its founders . This action comes in response to the founders ’ decision to disband the organization’s governing structure and reallocate the majority of its assets to its tokenholders, a move that was made without the consensus of the DAO community. The controversy began on Nov. 2 when the Aragon team announced the dissolution of the Aragon Association, intending to distribute the organization’s funds to ANT tokenholders by allowing them to exchange their tokens for Ethereum. This plan involved redistributing approximately $155 million in digital assets. The @AragonAssoc deploys most of the treasury (>$155m, 87%) to allow all token holders to redeem ANT for ETH, dissolves itself, and pas...

Following a lawsuit, CoinEx, a cryptocurrency platform, has been prohibited from conducting operations in both New York and the US. The firm was then ordered to pay $1.7 million in penalties and refunds to affected individuals in New York. An agreement reached CoinEx, the cryptocurrency platform, has reached an agreement to settle a lawsuit that was filed against it in February by the state of New York.  There are serious consequences for ignoring New York laws. As a result of our lawsuit, cryptocurrency platform @coinexcom is banned from operating in New York and the rest of the country and will pay $1.7 million in penalties and refunds for impacted New Yorkers. https://t.co/U3wkdfHu3o — NY AG James (@NewYorkStateAG) June 15, 2023 In February, New York Attorney General Letitia James had filed a lawsuit against cryptocurrency exchange CoinEx, accusing the company of falsely representing itself as an exchange and failing to register as a securities and commodities b...