Nov 21, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including the U.S. Securities and Exchange Commission (SEC) allegations in a new lawsuit against Kraken, the reported settlement between Binance and the Department of Justice, plus the details as Bittrex Global announces it will shut down.

Video transcript

Kraken sued by the SEC and Binance reportedly working to settle with the DOJ. You're watching Coindesk Daily? I'm your host, Jen Sani. All right, let's take a look at the markets. The coin desk, Bitcoin price XBX index is currently trading at around $36,880. This afternoon. The fed will release minutes from its November 1st meeting but it might not have an impact on the markets because those minutes are already outdated us economic data released since the meeting have bolstered expectations that the central bank is done raising rates lots of news today when it comes to crypto exchanges and regulators first. Kracken allegedly commingled customer and corporate funds while operating as an unregistered broker clearing agency and dealer. That's according to a Monday lawsuit from the SEC, the regulator claimed that the San Francisco Based company in quote, made a business decision to reap hundreds of millions of dollars from investors rather than coming into compliance with securities laws and quote. Kraken has responded to the lawsuit saying that they stand firm in their view that they did not list securities and plan to vigorously defend their position. Meanwhile, Binance may be settling its case with the Department of Justice. According to Bloomberg, Binance could be asked to pay $4 billion to settle accusations of multiple criminal violations. The deal leaves open the possibility that founder Cz would face criminal charges. The talks could reportedly conclude in the coming weeks. Crypto exchange. BREX Global is winding down operations. Trading on the platform will stop on December 4th. The company urged customers to complete all necessary transactions by then, bres us shuttered operations in April and in August reached a $24 million settlement with the SEC after being sued for allegedly operating a national securities exchange without the right approvals. The exchange did not give a reason for the decision. That's a wrap for coin desk daily, get more updates on and we'll see you next time.

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