• Binance has allegedly maintained ties with blacklisted Russian banks despite Western sanctions, according to the Wall Street Journal.
• Sam Bankman-Fried was granted supervised access to lawyers for one-time Internet access by a federal judge.
• The SEC charged Titan Global Capital Management for using “misleading” performance metrics.
Binance Allegedly Maintains Ties with Blacklisted Russian Banks
The Wall Street Journal has reported that the crypto exchange Binance has allegedly maintained ties with blacklisted Russian banks despite Western sanctions. This is significant as it could potentially put the exchange on the wrong side of international law, and may be contrary to its stated commitment to regulatory compliance.
Sam Bankman-Fried Allowed Access to Lawyers
A federal judge recently granted Sam Bankman-Fried supervised access to lawyers for one-time Internet access. This comes after he was arrested in July 2020 and accused of operating an unlicensed money transmitting business in connection with his crypto exchange FTX.
SEC Charges Titan Global Capital Management
The SEC recently charged Titan Global Capital Management LLC, a California-based investment adviser, for using “misleading” performance metrics in marketing materials provided to prospective clients. According to the regulator, the firm had overstated its past returns by approximately 40%.
Algorand’s ALGO Token Price Plunges
The Algorand Foundation’s ALGO token has been hit hard following its classification as a security by the SEC earlier this year, resulting in its price going into freefall and alarming declines in DeFi volume being recorded on exchanges where it is listed.
It appears that news surrounding regulation is having a major impact on several crypto projects at present, as investors are seemingly wary about jumping into assets that could face heavy scrutiny from regulators down the line.