Weekly Recap: SEC and Binance.US Lock Horns, Senators Back Warren’s Crypto Bill

This week in crypto: Tether defies its own commitments, Gemini and DCG’s legal tussle intensifies, Balancer Protocol faces another security breach, and more!

In this weekly recap, we cover:

• Federal magistrate judge Zia Faruqui’s denial of the SEC’s request to inspect Binance.US software, urging both parties to find a middle ground.
• SEC’s Crypto Assets and Cyber Unit head David Hirsch announcing an increased focus on crypto businesses, including DeFi projects, despite recent legal setbacks.
• U.S. Senator Elizabeth Warren gaining robust support for her Digital Asset Anti-Money Laundering Act, aimed at tightening regulatory loopholes in the crypto sector.
• Tether’s continuation of issuing USDT-denominated loans, despite previously stating it would cease such activities by the end of this year.
• The escalating legal battle between Gemini Trust and the Digital Currency Group over a recovery proposal for Genesis Global creditors.
• Balancer Protocol’s frontend attack, urging users to exercise caution while interacting with its website.
• Hong Kong police intensifying their probe into the JPEX crypto exchange, arresting six individuals amid allegations of misleading the public.
• Casey Rodarmor, the creator of the Bitcoin Ordinals protocol, advocating for an overhaul of the current inscription numbering system.
• A quick DeFi roundup featuring ApeCoin DAO’s backed proposal, Canto’s transition to Ethereum Layer 2, Optimism’s $26 million airdrop, and more.

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