Tron's Justin Sun Says He's 'Putting Together Solution' for FTX
The #Tron cryptocurrency network's creator and Grenada's ambassador to the #WTO, Justin Sun, tweeted late on Wednesday that he and his team were "putting together a solution" with struggling #cryptocurrency exchange FTX, hours after Binance announced it would not proceed with a deal to acquire the company.
Sun's tweet lacked details that would have indicated whether this fix will save #FTX as a whole or just backstop the Tron-related coins that were traded on the #exchange.
A number of regulatory bodies, including the #SEC, the #CFTC, and the U.S. Department of Justice, have implied that they are looking into or expanding their #investigations into the firm.
The #Tron cryptocurrency network's creator and Grenada's ambassador to the #WTO, Justin Sun, tweeted late on Wednesday that he and his team were "putting together a solution" with struggling #cryptocurrency exchange FTX, hours after Binance announced it would not proceed with a deal to acquire the company.
Sun's tweet lacked details that would have indicated whether this fix will save #FTX as a whole or just backstop the Tron-related coins that were traded on the #exchange.
A number of regulatory bodies, including the #SEC, the #CFTC, and the U.S. Department of Justice, have implied that they are looking into or expanding their #investigations into the firm.
🏦 #Binance, the world's largest crypto exchange, faces a lawsuit from the U.S. #CFTC for offering illegal trading products to U.S. residents.
💼 Binance and CZ filed a motion on Thursday, stating the regulator overreached, used inconsistent theories, and made unsound claims.
🌐 Binance argues that they don't operate in the U.S. and their CEO is based in the UAE, challenging the CFTC's jurisdiction.
⚖️ The legal dispute highlights complexities of #cryptocurrency regulations and jurisdiction matters.
🔒 Binance also faces legal challenges from the SEC and increasing regulatory pressure worldwide.
💼 Binance and CZ filed a motion on Thursday, stating the regulator overreached, used inconsistent theories, and made unsound claims.
🌐 Binance argues that they don't operate in the U.S. and their CEO is based in the UAE, challenging the CFTC's jurisdiction.
⚖️ The legal dispute highlights complexities of #cryptocurrency regulations and jurisdiction matters.
🔒 Binance also faces legal challenges from the SEC and increasing regulatory pressure worldwide.