Paradigm not directly involved with Binance, still opposes US SEC lawsuit

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Paradigm not directly involved with Binance, still opposes US SEC lawsuit

Paradigm said it is not directly involved with Binance but still opposes the US SEC's lawsuit against the crypto exchange and has filed a brief in the case as an observer. In other news, Gemini will stop 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's venture capital firm accused the SEC of bypassing standard procedures in its legal action against Binance and its CEO, Changpeng Zhao, Cryptotelegraph reported.

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

The Dutch crypto exchange Gemini said it would halt Crypto services in the Netherlands because of requirements imposed by the De Nederlandsche Bank.

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

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

We advocate for policies that not only support the crypto industry but also the countless individuals and businesses that could benefit from these advancements, he said in a statement on LinkedIn. Belive has also worked in government relations for firms such as 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 be one of more than 100 validators supporting the blockchain of Polygon, which develops Ethereum scaling solutions.

The US Commodity Futures Trading Commission has accused Mosaic Exchange and its owner, the US Commodity Futures Trading Commission, of operating a 'fraudulent digital asset commodity scheme'.

The CFTC alleges that the defendants fraudulently asked 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 asset commodities on the customers' behalves, and misappropriated customer funds.

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