Binance fights back, Warner Bros. launches Web3 Superman, DYdX surges, and Tether goes green. Dive into the today's crypto buzz
Binance Responds to the SEC’s Complaint

Binance Responds to the SEC’s Complaint

Jun 7, 2023
| Issue

Hello all. Welcome to another edition of the Datawallet newsletter where we cover news from the crypto sphere, tailored for all investor levels. So strap in and read on!

Today’s drop will cover these key daily news items:

  • Binance fights back on the SEC’s formal complaint
  • Superman Web3 experience set to be launched by WB
  • Kraken fixes gateway issues
  • DYdX’s token spikes 10% after SEC sues Binance
  • Tether invests in El Salvador

Binance Responds to the SEC’s Complaint

In a defiant response to the U. S. Securities and Exchange Commission's (SEC) lawsuit, cryptocurrency giant Binance has expressed deep disappointment, stating it has actively cooperated with SEC investigations. It views the abrupt move to litigation as a misguided approach, believing it undermines the U. S. 's status as a global leader in financial innovation.

Binance asserts the SEC's allegations do not warrant enforcement action and pledges to vigorously defend its platform. The firm denounces any claims of risk to user assets on Binance. US and its affiliate platforms as baseless, instead suggesting the SEC's move is more about grabbing headlines than protecting investors.

Despite the setback, Binance vows to continue cooperating with global regulators and policymakers, focusing on fostering innovation while safeguarding consumer protections. The firm sees itself as a defender of the cryptocurrency technology from misinformed lawsuits and reaffirms its commitment to a secure, reliable platform for its users. 

Superman Web3 experience set to be launched by WB

Warner Bros. and Eluvio collaborate to launch a Superman NFT movie experience on June 9. This groundbreaking Web3 experience for the iconic 1978 film offers an exclusive and captivating method of interaction, poised to transform the sector. This inventive film experience allows enthusiasts to connect with the Richard Donner-helmed movie in an unprecedented manner. 

It features an interactive menu system influenced by iconic moments from the film, enabling viewers to enjoy the movie in 4K UHD on multiple devices and access exclusive content. Moreover, it contains image collections from renowned DC artists and digital surprises, enhancing the immersive quality of the experience.

Kraken fixes gateway issues

Kraken, a cryptocurrency exchange, reported that it looked into a problem affecting multiple crypto payment channels, including significant ones like Bitcoin BTC, Ether ETH, and ERC-20, leading to operational setbacks. On June 6, Kraken's status page stated, "Both deposits and withdrawals are currently experiencing delays. We will promptly share any updates."

The initial announcement was made at approximately 7:44 am UTC, when deposit and withdrawal delays were observed. This was followed by two additional updates at 8:06 am UTC and 8:13 am UTC, indicating that they are still working to resolve the issue.

DYdX’s token spikes 10% after SEC sues Binance

The decentralized exchange platform's native token, DYDX, experienced a surge to $2.23 when the U.S. Securities and Exchange Commission announced legal action against Binance, the leading cryptocurrency exchange in terms of trading volume, for breaching federal regulations. CryptoWatch, a data analytics company, reported that the governance token's value increased to its peak of $2.26, representing an approximately 10% rise from its lowest point of $2.04 within the last hour. For more information on the platform, you can check out our extended DYDX Review.

Tether invests in El Salvador

Tether, a stablecoin provider, has revealed its collaboration with El Salvador, a country known for its Bitcoin support, to invest in a proposed $1 billion renewable energy project.

El Salvador, the first country to adopt Bitcoin as legal tender approximately three years ago, is persistently working to promote Bitcoin adoption. The most recent plan involves establishing a renewable energy district in Metapán, focusing on utilizing solar and wind power to fuel and profit from Bitcoin mining activities.

Other breaking news

Wrapping up

There it is crypto folks, another Datawallet newsletter. Markets are recovering after some initial bad news from the SEC, with decentralized exchanges like DYDX surging on regulatory scares for centralized platforms. Additionally, Tether is unfazed by the turmoil and invests in a renewable energy project in El Salvador. Kraken is ensuring smooth operations by closing a bug and Warner Brothers is launching a Superman Web3 experience. Stay informed and ahead of the game with our daily crypto scoop. See you tomorrow.