New York Financial News

BNB (BNB) looks set to wipe out its March gains entirely as investors turn their attention to the latest regulatory crackdown on Binance, the world's leading crypto exchange by volume.

On 27 March, a US federal judge temporarily halted the proposed $1.3 billion sale of bankrupt crypto firm Voyager Digital to Binance.US. The ruling grants the United States Securities and Exchange Commission (SEC) more time to question the deal’s legality on appeals. 

Voyager Digital’s $1 billion sale to Binance.US has been temporarily halted by a federal judge after a request by the United States government for an emergency stay.

The global securities marketplace known as Nasdaq is planning to join the cryptocurrency business by the end of the second quarter of 2022 when it will provide its custody services for digital assets. Ira Auerbach, Senior Vice President of the exchange operator, is in charge of the digital assets division, which has submitted an application to the New York Department of Financial Services for a limited-purpose trust company charter. This charter would allow the department to monitor the new business.

Following his arrest in Montenegro while attempting to fly using fake documents, Terraform Labs co-founder Do Kwon will reportedly appeal the court’s decision to extend detention time for up to 30 days.

New York’s Nasdaq Stock Exchange is planning to launch a crypto custody service by the end of the second quarter, Bloomberg reported on 24 March.

Nasdaq aims to launch its much-anticipated crypto custody service by the end of the second quarter to meet the increasing institutional interest and demand for crypto services. 

The United States’ most powerful financial regulators gathered March 24 by video conference for an unscheduled, closed meeting of the Treasury Department’s Financial Stability Oversight Council (FSOC), the department announced in a statement. Treasury Secretary Janet Yellen convened the meeting.

Regulators again assured the public that the banking system is safe, as fresh data showed customers recently pulled nearly $100 billion in deposits.

European banks are going into the weekend with renewed fears surrounding their future, as shares of Deutsche Bank plunged over 7% on the New York Stock Exchange on March 24, after a down day on Frankfurt's markets. 

Global securities marketplace Nasdaq Inc. is gearing up to launch its custody services for digital assets by the end of the second quarter of this year, according to Bloomberg.

Terraform Labs founder and crypto fugitive Do Kwon has been charged with eight counts of fraud in New York after his arrest in Montenegro.

Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so. Lohan, Akon, recording artists Ne-Yo, and Lil Yachty, boxer and internet personality Jake Paul, and adult film performer Michele Mason all agreed to pay more than USD 400,000 combined in disgorgement, interest and penalties to settle the claims, the Securities and Exchange Commission said Wednesday. None admitted or denied the SEC's findings as part of the settlement. Two other celebrities named in the SEC's complaint, rapper Soulja Boy and pop singer Austin Mahone, did not reach a settlement with the SEC, the agency said. In response to a request for comment, Lohan's publicist Leslie Sloane said the actress was contacted in March 2022, was unaware of the disclosure requirement, and agreed to pay a fine to resolve the matter.

Citigroup chief executive officer Jane Fraser said the US banking system remains in solid shape despite the demise of Silicon Valley Bank and Signature Bank of New York in the past two weeks and a subsequent swoon in bank stocks.

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital, has been ordered to answer the subpoena issued to him in January or risk being held in contempt of court.

Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro.

Former Morgan Stanley advisor Darryl Cohen was arrested on Thursday morning for allegedly defrauding current and former NBA players including Jrue Holiday, Chandler Parsons and Courtney Lee.

The US-based crypto exchange Coinbase is facing a lawsuit from the Securities and Exchange Commission (SEC) over securities violations related to staking, its listing of assets, and the Coinbase Wallet.

Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year.

The U.S. Securities and Exchange Commission (SEC) filed another lawsuit against cryptocurrency promoters, this time including Tron Founder Justin Sun, actress Lindsay Lohan, and Youtuber-turned-boxer Jake Paul.

Applications for unemployment benefits fell last week, showing the U.S. labor market remains strong as other signs point to a cooling economy.