U.S. Senator Cynthia Lummis (R-Wy.), a number of crypto lobbying organizations and a group of professors called on a federal court to dismiss a Securities and Exchange Commission (SEC) lawsuit against crypto exchange Coinbase Friday.Source
The new social app has driven over 4,400 ETH ($8.1 million) in trading volume in less than 24 hours since its launch, far surpassing OpenSea’s in the same time frame. But with its mysterious origins, lack of privacy policy and lagging network, it raises some red flags.Source
FTX founder Sam Bankman-Fried has been remanded into custody ahead of his October trial on multiple financial crime charges after a federal judge revoked his release on bond.Source
His Gemini crypto exchange and conglomerate Digital Currency Group are battling – in and out of court – over the failure of Gemini’s Earn lending service.Source
Visa says managing ether (ETH) balance to cover gas fees is “burdensome” and too complex, according to a blog post.Source
The fallen FTX founder didn’t just violate his bail — he violated the trust of his family’s last remaining allies.Source
Like Facebook’s ill-fated Libra project, PYUSD is getting some pushback in Washington D.C. But its prospects seem more promising, says Michael J. Casey.Source
Nevada regulators recently ordered the crypto company, which BitGo had planned to buy, to cease operations and noted a shortfall in customer funds.Source
I didn’t really have anything prepared to write about this week but the Department of Justice is on it. Prosecutors told the judge overseeing Sam Bankman-Fried’s criminal trial that they intend to fold campaign finance allegations into a wire fraud charge, after announcing they would have to drop the campaign finance charge itself due to treaty obligations with the Bahamas.Source
The U.S. Securities and Exchange Commission (SEC) extended its review of the Ark 21Shares Bitcoin ETF application, as it continues to look at applications from traditional finance heavyweights like BlackRock and Fidelity.Source