THE HASH: CFTC Sues Binance and CEO 'CZ'; Twitter Hunts GitHub User Who Posted Source Code Online

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4.7 • 698 Ratings

🗓️ 27 March 2023

⏱️ 23 minutes

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Summary

The most valuable crypto stories for Monday, March 27, 2023. "The Hash" tackles today's hot topics: Binance and CEO Changpeng “CZ” Zhao are sued by the Commodity Futures Trading Commission for regulatory violations. The G-7 is planning to toughen global crypto regulations. Twitter is on a manhunt for the person responsible for leaking its source code on GitHub. Plus, Gucci is doubling down on its push into the metaverse with a new partnership with Yuga Labs. See also: CFTC Sues Binance, CZ Over 'Willful Evasion' of U.S. Laws, Unregistered Crypto Derivatives Products Crypto-Related Stocks Drop Alongside Bitcoin on CFTC Binance Suit Binance Bitcoin Trading Volume Hits Lowest Level in 8 Months Following Termination of Zero-Fee Trading Gucci and Yuga Labs Are Bringing High Fashion to the Otherside - This episode has been edited by Jonas Huck. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.” - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code THEHASH to get 15% off your pass. Visit coindesk.com/consensus. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This is the hash podcast.
0:10.0	Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more.
0:15.6	All on the hash for your ears.
0:19.0	You're listening to the Coin Desk Podcast Network.
0:23.1	Hello and welcome to CoinDest TV.
0:25.4	Happy Monday.
0:26.8	You're watching The Hash.
0:27.8	I'm Zach Seward.
0:28.6	That's Jensenassie and Will Foxley.
0:30.5	We're going to race you through today's news because there's a lot of it.
0:33.7	Let's do this thing.
0:34.4	I'm tossing to myself.
0:35.7	A little bit of breaking news. Binance is being sued by
0:38.0	the CFTC over the willful evasion of U.S. laws. Pretty big bombshell dropped on Binance this
0:44.3	morning. Bitcoin's price tanked precipitously about $1,000 after the news broke. And this
0:50.2	potentially has some ramifications. CFTC is alleging that Binance urged US users to use
0:55.8	a VPN to access Binance.com services when otherwise they should have been prevented from doing so,
1:01.3	among other allegations. This, I guess, continues a trend of regulatory crackdown ramping up in
1:07.9	these recent months. And certainly there's been a big target on Binances back.
1:11.8	So to see this action out of this CFTC, it's not necessarily unexpected, but is certainly
1:16.7	a big action that has been taken by US regulators. I got to toss this one straight to Jen.
1:22.2	Jen, what do you think of this one? Well, it's so funny in this industry how we just get little
	...

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