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

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

Paradigm says it's not directly involved with Binance but still opposes the SEC's lawsuit against the crypto exchange and filed a brief in the case as an observer. In other news, 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's venture capital firm, Paradigm, accused the SEC of bypassing standard procedure in its legal action against Binance and its chief executive, Changpeng Zhao.

Paradigm said it was not an investor in Binance and has no direct financial interest in the outcome of the lawsuit. The SEC had said it was 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 it would halt crypto services in the Netherlands because of requirements imposed by the exchange.

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

The former Obama administration staffer, Lauren Belive, was appointed the head of American 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 firms such as Lyft, Zoom, and Softbank.

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

The project will become one of more than 100 validators that help secure the blockchain of Polygon, which develops Ethereum scaling solutions.

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

The CFTC alleges that the defendants fraudulently 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 money for the defendants to trade bitcoin and other digital asset commodities on the customers' behalves and misappropriated customer funds.

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