SEC, Blockchain Capital, Digital Currency Group, Anchorage Digital, Toncoin and More
The U.S. Securities and Exchange Commission (SEC) has expressed its intention to investigate Binance.US, the American affiliate of global cryptocurrency exchange Binance. The SEC is concerned about the safety and security of the digital assets held by Binance.US for its customers, as well as the compliance of its trading platform with federal securities laws. The regulatory body has requested access to the books and records of Binance.US, as well as information on its internal controls, governance, and risk management practices.
Blockchain Capital, one of the oldest and most prominent venture capital firms in the crypto industry, has recently closed two new funds with a total of $580 million in capital commitments. The firm, founded in 2013 and known for backing successful projects and companies in the blockchain space, stated that these new funds will allow it to continue investing in early-stage and growth-stage opportunities within the crypto ecosystem. The funds, Blockchain Capital VI and Blockchain Capital Growth Fund I, attracted a diverse group of investors, including pension funds, endowments, foundations, family offices, corporations, and high-net-worth individuals.
To support its portfolio companies and enhance its network, Blockchain Capital has also expanded its team and added new strategic partners. Bart Stephens, the firm’s co-founder and managing partner, believes that the crypto industry is at an inflection point, experiencing more innovation and adoption than ever before. He expressed confidence that Blockchain Capital is well-positioned to capitalize on this trend and contribute to shaping the future of finance, technology, and society.
Digital Currency Group (DCG), a global blockchain and cryptocurrency investment leader, has appointed Professor Tonya Evans as a new independent director. Professor Evans is an expert in blockchain law and policy, digital assets, and intellectual property. She teaches blockchain, crypto, and fintech courses at Penn State Dickinson Law School, chairs the Maker Foundation’s MakerDAO Law and Policy Working Group, and advises several blockchain startups and organizations. DCG’s CEO, Barry Silbert, expressed that Professor Evans’ legal and regulatory insights will be invaluable as the company expands its portfolio of companies and initiatives globally. Professor Evans stated her excitement to join DCG’s board of directors, acknowledging the company’s position as a leader in innovation and adoption in the blockchain and cryptocurrency sector.
Anchorage Digital, a prominent crypto custody and staking platform, has seen a significant increase in demand for Ether staking services. According to Diogo Monica, Anchorage’s co-founder and president, the amount of Ether staked on the platform has quadrupled in the past year, surpassing $40 billion worth of the second-largest cryptocurrency. Monica attributed this growth to the launch of Ethereum 2.0, a major network upgrade that aims to transition from a proof-of-work to a proof-of-stake consensus mechanism. By staking Ether, users can earn rewards for securing the network and validating transactions. Anchorage’s platform offers the advantage of allowing users to stake Ether without locking it up for an indefinite period, providing flexibility for trading, lending, or other use cases.
Toncoin, the cryptocurrency backed by popular messaging app Telegram, has outperformed bitcoin in the recent crypto market rally. Toncoin’s price has surged by over 50% in the past 24 hours, reaching a new all-time high of $2.34. This spike followed an announcement by Pavel Durov, Telegram’s founder and CEO, that Toncoin would be integrated into the app’s payment system, enabling users to send and receive Toncoins within chats. Durov praised Toncoin’s speed, scalability, and security, referring to it as “the future of digital money.” Bitcoin, on the other hand, only gained 10% in the same period, trading at around $27,266. Toncoin’s dominance is attributed to strong community support, innovative technology, and growing adoption by mainstream platforms.
