The U.S. Securities and Exchange Commission (SEC) has expressed interest in examining Binance.US, the American affiliate of cryptocurrency exchange Binance. The regulator is specifically concerned about the safety and security of digital assets held by Binance.US for its customers, as well as the compliance of its trading platform with federal securities laws. As part of the examination, the SEC has requested access to Binance.US’s books and records, as well as information about its internal controls, governance, and risk management practices.
In other news, prominent venture capital firm Blockchain Capital has closed two new funds, raising a total of $580 million in capital commitments. With the newly raised funds, Blockchain Capital will continue investing in both early-stage and growth-stage opportunities in the crypto ecosystem. The two funds are named Blockchain Capital VI, a $300 million fund focused on seed and Series A rounds, and Blockchain Capital Growth Fund I, a $280 million fund dedicated to later-stage investments. The funds attracted a diverse group of investors, including pension funds, endowments, foundations, family offices, corporations, and high-net-worth individuals.
Blockchain Capital has also expanded its team and added new strategic partners to support its portfolio companies and enhance its network. The firm’s co-founder and managing partner, Bart Stephens, believes that the crypto industry is at an inflection point, experiencing more innovation and adoption than ever before. He sees Blockchain Capital well-positioned to capitalize on this trend and contribute to shaping the future of finance, technology, and society.
Meanwhile, Digital Currency Group (DCG) has appointed Professor Tonya Evans as a new independent director. Professor Evans is an expert in blockchain law and policy, digital assets, and intellectual property. She brings over 20 years of experience as a lawyer, scholar, educator, and entrepreneur. Professor Evans teaches blockchain, crypto, and fintech courses at Penn State Dickinson Law School and advises several blockchain startups and organizations. DCG’s founder and CEO, Barry Silbert, sees Professor Evans as a visionary leader in the blockchain space, whose perspective and guidance will be invaluable in advancing DCG’s mission.
Anchorage Digital, a leading crypto custody and staking platform, has witnessed a significant increase in the demand for Ether staking services. According to co-founder and president Diogo Monica, the amount of Ether staked on Anchorage’s platform has quadrupled in the past year, surpassing $40 billion. This growth can be attributed to the launch of Ethereum 2.0, a major upgrade aiming to transition the network to a proof-of-stake consensus mechanism. Anchorage’s clients, including institutional investors, hedge funds, and corporations, are attracted to the high returns and low volatility offered by staking Ether compared to other crypto assets. Additionally, Anchorage’s platform allows users to stake Ether without locking it up indefinitely, providing flexibility for trading, lending, or other use cases.
In the world of cryptocurrencies, Toncoin, the digital currency backed by messaging app Telegram, has surged ahead of bitcoin in the recent crypto market rally. Toncoin’s price increased by over 50% in 24 hours, reaching a new all-time high of $2.34. This spike followed the announcement by Telegram’s founder and CEO Pavel Durov that Toncoin would be integrated into the app’s payment system, allowing users to send and receive Toncoins within chats. Toncoin’s dominance is attributed to strong community support, innovative technology, and growing adoption by mainstream platforms.
Sources:
– SEC requests information from Binance.US regarding safety and compliance
– Blockchain Capital closes two new funds worth $580 million
– Digital Currency Group appoints Professor Tonya Evans as independent director
– Anchorage Digital reports increased demand for Ether staking services
– Toncoin surges ahead of bitcoin in crypto market rally