Crypto Industry sees Major Moves and Regulatory Changes
The crypto world remains unpredictable,with important developments shaping its landscape.
Gemini Plans Public Listing
Noteworthy cryptocurrency exchange Gemini made waves by filing for an IPO with the SEC on Friday. This move signals the company’s intention to go public.
Do Kwon’s Guilty Plea Highlights Risk
Terraform Labs founder Do Kwon admitted guilt to conspiracy charges related to fraud and wire fraud. He acknowledged participating in a scheme that deceived TerraUSD stablecoin buyers.
OKX Erases Tokens Worth Billions
In a noteworthy action, OKX decided to destroy over 278 million OKB tokens valued at $26 billion. These tokens were accumulated via buyback programs and company reserves.
Hong Kong Tightens Crypto Custody Rules
The territory’s SEC issued new guidelines that require licensed virtual asset trading platforms to enhance client asset custody practices. This comes amid ongoing concerns over vulnerabilities.
Suspicious Activity Hits Turkish Exchange
BtcTurk, a Turkish crypto platform, experienced suspicious transfers totaling around $48 million in various cryptocurrencies.
Google Enforces New Wallet Policies
Google updated its policies for software wallets on the play Store. Apps must now comply with specific licensing requirements depending on thier jurisdiction.
Bo Hines resigns from Crypto Advisor Role
Bo Hines, a prominent figure in crypto investment, resigned from his position on the Presidential Council of Advisers for Digital Assets to focus on private sector opportunities.
Major Companies Increase Cryptocurrency Holdings
Strategy added 155 BTC to its treasury, investing roughly $18 million. Similarly, DeFi Growth Corp bought an extra 110,000 SOL tokens worth about $22 million.
