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  • 9/27/23: Why Binance Really Left Russia 🇷🇺⛓️❗️

9/27/23: Why Binance Really Left Russia 🇷🇺⛓️❗️

Author

Valko
September 27, 2023

Today’s Top Stories ⌐◪-◪

  • 🇷🇺 Binance leaves Russia by selling its business to startup, CommEx

  • ⛓️ Chainlink’s cross-chain interoperability protocol goes live on Base

  • ❗️ Lawmakers demand Gary Gensler approve spot Bitcoin ETFs

Binance fully exits Russia with sale to CommEX

The financial details of the deal remain undiscosed, however as a full exit from Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business.

⌐◪-◪ → Binance is leaving Russia because it is, in their words “not compatible with our compliance strategy”. From my seat, this feels like a reactionary move to improve optics ahead of speculated enforcement by the US Department of Justice. Also, I bet this new owner is a lot more chill with money laundering.

Chainlink Extends Cross-Chain Protocol to Coinbase’s Base

The oracle platform has integrated its CCIP communication protocol with Base to enable the development of cross-chain dapps and services.

⌐◪-◪ → Chainlink’s CCIP could be the preferred interface for top banks to interact with 100s of blockchains, transitioning crypto from the proof-of-concept phase to production-level usage. However, crypto maxis are concerned about Chainlink’s centralized nature and the power Sergey Nazarov wields.

Lawmakers urge Gensler to allow spot bitcoin ETFs 'immediately'

A group of lawmakers pressed SEC Chair Gary Gensler to urgently allow the listing of a spot bitcoin ETF on Tuesday.

⌐◪-◪ → It’s nice to see politicians on both sides of the aisle fight for crypto. We won’t know the full story until Gary Gensler testifies before the House Financial Services Committee later today. Don’t miss it, set a reminder.

Peripheral Vision ⌐◪-◪

⛓️ Crypto & DeFi

  • Ethereum hit $10B in 7 years, faster than Facebook and Microsoft

  • Oil conglomerate to mine BTC on world’s 2nd largest shale reserve

  • Federal Reserve says stablecoins could create financial instability

  • Curve founder deposits $68M to Aave to settle his debt position

  • Moneygram’s to release noncustodial wallet in Q1 2024

💵 Wallstreet

🏛️ Legal & Regulatory

  • SEC delays their decision on ARK Bitcoin spot ETF

  • Ripple taps Obama White House official to lead US public policy

  • Gary Gensler to testify at US House of Representatives today

🌎 Rest of the World

  • Gemini allocates $24M to expanding operations in India

  • Istanbul labeled a crypto hub by Binance’s Chief Marketing Officer

  • Miguel Albuquerque, pro-BTC, wins regional election in Portugal

  • Shanghai published blockchain plan for trade, metaverse, and gov.

🖼️ NFTs & Gaming

  • Pudgy Penguin toys are now available in 2,000 Walmarts in the US

  • Microsoft working on crypto wallet according to leaked roadmap

  • Milady lawsuit continues with Delaware countersuit

  • Metaverse unicorn Improbable cuts losses by £131M

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