Episode Details

19th Oct: Crypto & Coffee at 8
🔥NYAG Sues Genesis Gemini & DCG ❌Binance.US US Suspends Withdrawals 🔴 Polygon ‘Decentralized Governance 🚀 Coinbase in Ireland

🔥 Extreme Left Leaning Office of the New York State Attorney General has filed a lawsuit against Genesis Global Capital, Gemini Trust, and Digital Currency Group (DCG). The complaint also includes allegations against Soichiro Michael Moro, the former CEO of Genesis, and Barry Silbert, the founder and CEO of DCG. New York Attorney General Letitia James said in a statement that can be found here https://lnkd.in/dKG8j6HP The news is also published in Extreme Left News Media The New York Times article here https://lnkd.in/dDFKhQxb

❗ Gemini, Genesis, and DCG’s fraud led to roughly $1 billion in losses for more than 230,000 investors, including at least 29,000 New Yorkers.

❌Binance in the news
❗ Crypto exchange Binance.US US has suspended withdrawals in U.S. dollars. Users who want to withdraw their USD funds must first convert them into stablecoins or other cryptocurrencies, which can then be withdrawn. More info on this here https://lnkd.in/dBJAY6xu

📊 Polygon Labs, a scaling solution for Ethereum, introduced a “Polygon Protocol Council” with 13 founding members, including figures from Coinbase and the Ethereum Foundation. Under Proposal PIP 29, this council will oversee time-limited changes to Ethereum’s smart contracts for Polygon’s protocols, emphasizing decentralized governance.

❗ According to the announcement, the council will “execute the community-led process to initiate future upgrades, including those proposed in the Frontier phase of Polygon 2.0.” Info here https://lnkd.in/dkkbN-zW

🟠 Coinbase has chosen Ireland as the base for its European Union entity to align with the region’s primary cryptocurrency regulatory framework, the Markets in Crypto-Assets Regulation (MiCA). This decision was communicated to Cointelegraph on October 19th. More info on this here https://lnkd.in/dHDZkRKC

🟠 Two UAE news (See slides )
⚡ Coinbase director hired and relocated by Dubai crypto exchange
⚡ UAE Government Unveils White Paper Focused on Metaverse Regula