"CoinDesk Daily" breaks down the top crypto headlines of the day, including why dogecoin (DOGE) is rising for the second straight day.
Coin gets thrown a bone and the former CEO of Celsius goes to court. Welcome to Coin Desk Daily. I'm your host, Jenna. Let's take a look at the markets. Dogecoin is up for a second straight day after Twitter announced its rebranding to X. The meme coin's rise comes amid speculation that it could facilitate payments on the platform. Crypto exchange. Binance is looking to dismiss AC FTC lawsuit. According to a recent court filing, the agency sued Binance in March alleging that it operated a derivatives trading operation and directed American employees to obscure their locations. This week's filing did not specify Binance argument. The exchange's response to the CFT C's complaint is due on Thursday. The justice department is asking a judge for 6 to 8 weeks to produce evidence in its case against Celsius founder, Alex Moshinsky. Doj attorneys say they need that time to process Celsius's corporate records and communications including 1200 videos. Minsky pleaded not guilty after being arrested earlier this month on charges including securities fraud, commodities fraud, and wire fraud. And Coco says it might reduce some of its staff as part of a routine adjustment of personnel but denied plans that it is laying off a large portion of its workforce. This statement comes after a Twitter news account reported that the crypto exchange planned to lay off as many as 30% of its employees. A co coin spokesperson told Coin Desk in part that as part of the company's business development, there might be some personal adjustments as needed. That's a wrap for Coindesk Daily. I'm your host, Jenna, get more updates on Coindesk dot com and we'll see you next time.