🇺🇸 US SEC Launches Probe into Insider Trading Safeguards of Crypto Exchanges

View in browser June 15, 2022 Here's what's been happening in the cryptoverse today: The US SEC looking into insider trading, Tether condemns three false rumors and Kraken is hiring despite Bearish Market. Markets - Change 24hr Source: CoinMarketCap.com US SEC Launches Probe into Insider Trading Safeguards of Crypto Exchanges The US Securities and Exchange Commission (SEC) has reportedly launched a string of inquiries into the activities of numerous crypto exchanges, striving to determine whether the businesses have adequate safeguards in place to prevent insider trading. The letter was sent following last month's TerraUSD (UST) stablecoin crash and the meltdown triggered by its governance token LUNA, it added. "A request for more information from the SEC to crypto exchanges would make sense given the SEC's recent emphasis on regulating the exchanges, ostensibly in the name of consumer protection," Jeremy Hogan, Partner at US law firm Hogan & Hogan, was quoted as saying. According to him, in the past, there have been allegations of insiders buying large amounts of tokens that were going to be listed on an exchange (thereby increasing the price) but which listing was not yet public knowledge. See who and/or what the SEC is interested in looking into... Tether Condemns 3 'False Rumors' About Its Exposure Tether, the company that issues the biggest USD-pegged stablecoin USDT, said that it condemns what it calls "false rumors" that its holdings include large amounts of Chinese commercial paper that supposedly trades at a discount. In a statement published on Tether's website on Wednesday, the company said it is "aware of rumours being spread that its commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and being traded at a 30% discount." "These rumours are completely false and likely spread to induce further panic in order to generate additional profits from an already stressed market," the company said, adding that it "condemns such attempts" at manipulating market prices.  See how USDT addresses Celsius rumors... World of Women and The Fabricant Collaborate  To Create Web3's Biggest Digital Fashion Collection The Fabricant and World of Women (WoW) have joined forces to make Web3 more fashionable and diverse with a 27-piece digital fashion collection inspired by the women characters in the WoW NFT artworks. The drop will take place on June 29 on The Fabricant Studio, the 1st digital fashion co-creation platform of the metaverse. Participants will be invited to co-create unique WOW 3D NFT garments and make a fashionable entry in web3! Individual wallets can mint a maximum of 27 garments, allowing every piece in the collection to be minted. The co-created pieces can be collected, worn, and traded in Web3 environments. Do not miss the opportunity to be part of the first Web3 digital fashion collaborations between two entities and participate in the empowerment of women in the space. Get access now Twitter | Discord | Website | Instagram | Youtube Kraken To Kick Off 'Global Hiring Push' Despite Bearish Market While some major crypto industry players are reacting to the recent market downturn with layoffs and/or freezing their hiring plans, major crypto exchange Kraken is unveiling a global hiring push with hundreds of available jobs across the world - declaring that it's not planning to fire its employees. The company said in a statement that, "We have not adjusted our hiring plan, and we do not intend to make any layoffs. We have over 500 roles to fill during the remainder of the year, and believe bear markets are fantastic at weeding out the applicants chasing hype from the true believers in our mission." The CEO has shared the company website's 'Careers' page containing all open positions in various departments. See what Kraken is doing for crypto jobs... Promotion 100% Win! Buy Crypto and Share 200,000 USDT We are pleased to announce the launch of a new round of 100% winning promotions for buying crypto. This time we will give away 200,000 USDT.  ⏰ Activity Time: 10:00:00 on June 14, 2022 - 10:00:00 on June 17, 2022 (UTC) 🎁 Rewards: 100% win! The highest reward is 500 USDT, and the reward for new users will be doubled! Learn More Daily Briefs Crypto markets experienced a surge in trading volume during the collapse of TerraUSD (UST), as crypto exchange Binance traded USD 224bn during the week, followed by FTX, OKX, and Coinbase with USD 42.1bn, USD 37.9bn, and USD 33.1bn in volume, respectively, during the 7-day period beginning May 8, according to crypto analytics firm CryptoCompare.  Crypto exchange Bybit announced that it has enabled portfolio margin mode for eligible users on June 15. Users can start with the newly launched USD coin (USDC) perpetual contracts plus USDC options, while the feature will expand to Tether (USDT) products in later stages. European Commissioner for Financial Services Mairead McGuinness encouraged the European Union's lawmakers to speed up the passage of its cryptoasset regulatory framework. McGuinness cited three recent events as reasons for hastening the legislation: the war in Ukraine, the Terra crash, and the news that crypto-lender Celsius (CEL) was suspending withdrawals. Iowa, USA, Insurance Commissioner Doug Ommen issued a consent order against crypto platform BlockFi after the latter "offered and sold securities in Iowa that were not registered or permitted for sale,". Christy Goldsmith Romero, a US Commodities Futures Trading Commission (CFTC) member, has rejected suggestions that the agency would take an easygoing approach towards regulating crypto, according to Law360.  Australian Bitcoin (BTC) mogul Greg Dwyer is in talks with US prosecutors to try to resolve a criminal case brought against him and the cofounders of crypto exchange BitMEX, according to the Sydney Morning Herald. He is facing charges that could carry prison terms in excess of 12 months, it added. Russian bank Sber is preparing to soon complete its first digital currency deal involving the bank's proprietary digital asset platform, state-backed news agency TASS reported, citing Anatoly Popov, deputy chairman of Sber's executive board.  Privacy-focused BTC wallet Wasabi Wallet announced they're launching their 2.0 version that has a new interface, a new fee structure, and no minimum amount required. Crypto analytics platform Nansen announced Nansen Connect, a messaging app that lets users log in with a crypto wallet and then connect to groups based on their crypto holdings and the NFTs they verifiably own.   Decentralized oracle network Chainlink (LINK) has integrated its service 'Chainlink Price Feeds' to Moonbeam, a smart contract parachain on Polkadot (DOT), to provide data to developers in the platform. 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