
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 addition, Gemini is discontinuing Crypto services in the Netherlands, a former staffer of the Obama administration is joining Ripple, and Google Cloud will be a validator in Polygon Labs' PoS network. Paradigm, a 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 was not an investor in Binance and has no direct financial interest in the outcome of the lawsuit. The SEC said it is exceeding its regulatory limits, which Paradigm opposes. Paradigm said it has filed an amicus brief as an observer in the case.
The De Nederlandsche Bank said in a statement that it will halt trading of Crypto services in the Netherlands because of requirements imposed on the company's website.
By November 17 clients were asked to withdraw all fiat and crypto assets from their Gemini accounts.
Lauren Belive, a former Obama administration staffer, has been named by Cryptoglobe as the head of US public policy and government at Ripple, a blockchain-based digital payment network.
''S paramount that 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 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.
The blockchain of Polygon will become one of more than 100 validators supporting the blockchain of polygon, which develops Ethereum scaling solutions.
The American Commodity Futures Trading Commission accused Mosaic Exchange and its owner of running a 'fraudulent digital asset commodity scheme'.
The CFTC's complaint contends 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.
What are some of the most interesting things we are reading on the internet?
The new CEO of Napster has a big, crypto-based idea for the next phase of music - Fortune.
A mysterious crypto scandal is happening in Hong Kong's FTX - what we know about the collapse of JPEX - DL News.