Crypto Sleuth Sued in Defamation Case, Invites Donations

• NYAG releases documents detailing Tether’s exposure to Chinese securities in 2021.
• SEC under congressional scrutiny as BlackRock files for spot Bitcoin ETF; Coinbase to serve as custodian for BTC holdings.
• Crypto sleuth ZachXBT sued in defamation case, invites donations.

NYAG Releases Documents on Tether’s Exposure to Chinese Securities

The New York Attorney General (NYAG) has released documents revealing Tether’s exposure to Chinese securities in 2021. The documents detail the company’s investments and trading activity, which have come under increased scrutiny due to alleged market manipulation and other activities that could be deemed illegal. This comes as the SEC is currently under congressional scrutiny regarding their role in reviewing BlackRock’s application for a spot Bitcoin ETF.

Mark Cuban Debates Crypto Regulations with Former SEC Official

Mark Cuban recently engaged with former SEC official Robert Jackson Jr., discussing crypto regulations and the need for more clarity from government agencies. Cuban argued that regulators should take a more lenient approach when it comes to blockchain-based projects, allowing them time to develop before being subject to full compliance requirements.

BlackRock Files For Spot Bitcoin ETF

BlackRock recently announced its filing of an application with the US Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF). The move has been seen as a major step forward in institutionalizing cryptocurrency, with Coinbase acting as custodian of BlackRock’s BTC holdings if the application is approved by the SEC.

Binance US Cuts Staff Following Charges From SEC

Binance US has reportedly cut 50 staff members following charges from the U.S Securities and Exchange Commission (SEC). The job cuts are said to have affected nearly 20% of Binance US‘ workforce, although no further details have been provided at this time.

Crypto Sleuth ZachXBT Sued In Defamation Case

Crypto sleuth ZachXBT was recently named in a June 15 lawsuit alleging he published a defamatory article targeting crypto entrepreneur Machi Big Brother last year. Machi claims ZachXBT unlawfully defamed him through false allegations concerning embezzlement of 22,000 ETH ($37.8 million) from Formosa Financial back in 2018. In response, ZachXBT stated he will fight the case and established a legal defense fund for donations from his followers on social media platforms such as Twitter and Patreon