Paradigm says it's not directly involved with Binance

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Paradigm says it's not directly involved with Binance

Paradigm says it is not directly involved with Binance but still opposes the US Securities and Exchange Commission's lawsuit against the cryptocurrency exchange and has filed a brief in the case as an observer. In other news, Gemini has stopped crypto services in Netherlands, a former staffer from the Obama administration is joining Ripple, and Google Cloud will serve as a validator in Polygon Labs' PoS network. Paradigm, a venture capital firm, accused the SEC of bypassing standard procedure in its legal action against Binance and its CEO, Changpeng Zhao, Cryptotelegraph reported.

Paradigm said that it was not an investor in Binance and has no direct financial interest in the outcome of the lawsuit. The agency said the SEC was exceeding its regulatory boundaries, which Paradigm opposes. Paradigm said it has filed an amicus brief as an observer in the case.

The De Nederlandsche Bank has imposed requirements on Crypto Exchange Gemini to stop crypto services in the Netherlands, according to a statement on its website.

By November 17 customers had been asked to withdraw all fiat and crypto assets from their Gemini accounts.

Lauren Belive, a former Obama administration staffer, was appointed the head of public policy and government at Ripple, a blockchain-based digital payment network.

In a statement on LinkedIn, Belive said: 'Saturday, we advocate for policies that not only support the crypto industry but also the countless individuals and businesses that could benefit from these advancements. Belive has worked in government relations for companies like Lyft, Zoom, and Softbank.

Cryptonews reported that Google Cloud has joined Polygon Labs' Proof-of-Stake network as one of its decentralized validators.

One of more than 100 validators helping secure the blockchain of Polygon, which develops Ethereum scaling solutions.

The US Commodity Futures Trading Commission has charged Mosaic Exchange with running a 'fraudulent digital asset commodity scheme'.

The CFTC alleges that the defendants'sexually solicitate and induced at least 17 people in the US and other countries to give them hundreds of thousands of dollars worth of bitcoin or other assets for the defendants to trade bitcoin and other digital assets on the customers' behalves and misappropriated customer funds, the agency said in a statement.

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