Veröffentlicht von • Binance allegedly maintains ties with blacklisted Russian banks despite Western sanctions.
• SEC charges Titan Global Capital Management for ‘misleading’ performance metrics.
• Algorand’s ALGO token nosedives amid SEC classification and deflating DeFi activity.
Binance Alleged Ties with Blacklisted Banks
Binance, one of the world’s largest cryptocurrency exchanges, has been accused of maintaining ties with blacklisted Russian banks despite Western sanctions. According to a recent Wall Street Journal report, Sam Bankman-Fried was allowed to meet with lawyers in order to access the internet on a supervised, one-time basis.
SEC Charges Titan Global Capital Management
The U.S Securities and Exchange Commission (SEC) recently charged Titan Global Capital Management for providing ‘misleading’ performance metrics. The firm had allegedly misled investors by inflating its reported assets under management and using non-existent expenses in order to reduce its fees owed to investors.
Algorand’s ALGO Token Nosedive
Algorand’s ALGO token has seen a significant nosedive in value following the crypto market crash on August 17th, 2020. The digital asset fell to an all-time low of $0.08846 last Thursday before recovering slightly over the weekend. This drop is largely thought to be linked to the U.S Securities and Exchange Commission (SEC) classifying the ALGO token as a security earlier this year which has imposed various financial regulations on its holders and transactions involving it..
Binance Limiting Access to Customers
In addition, Binance began limiting access for customers using SEPA payments more than a month ahead of their announced deadline which further contributed to the bearishness surrounding Algo tokens prices.
Conclusion
Overall, Algorand’s ALGO token has suffered severely due its classification as a security by the SEC and other contributing factors such as Binance limiting access for certain customers more than a month ahead of their announced deadline and SEC charges against Titan Global Capital Management for ‘misleading’ performance metrics
