Paradigm says it's not directly involved with Binance, still opposes SEC lawsuit

Paradigm says it's not directly involved with Binance, still opposes SEC lawsuit

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

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

The cryptocurrency exchange Gemini will discontinue crypto services in the Netherlands because of the requirements imposed by the De Nederlandsche Bank, according to a statement on its website.

By November 17 customers were urged to withdraw all fiat and crypto assets from their Gemini accounts.

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

In a statement, 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 both Lyft, Zoom, and Softbank.

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

It will become one of more than 100 validators helping secure the blockchain of Polygon, which develops Ethereum scaling solutions.

The American Commodity Futures Trading Commission said the trading platform Mosaic Exchange and its creator were behind a 'fraudulent digital asset commodity scheme'.

The CFTC alleges that the defendants, who knowingly solicitate and induced at least 17 people in the United States and other countries to give them hundreds of thousands of dollars worth of bitcoin or other funds for the defendants to trade bitcoin and other digital asset commodities on the customers' behalves, and misappropriated customer funds.

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