Crypto.com Shuts Down Institutional Trading in U.S. [ Crypto Espresso 6.12.23 ]

Monday why do you torment me so I was Having such a lovely weekend uh I'm your Host Andrew and this is crypto espresso Your teeny tiny daily shout of Caffeinated crypto headlines and oh Waits Monday all right it's always Monday first up the US Department of Justice has indicted two Russian Nationalists Alexi biluchenko and Alexander Werner for their alleged Involvement in the 2014 Mount gox hack The doj claims that the two individuals Gained unauthorized access to mount Gox's wallets in September of 2011 and Then stole 647 000 Bitcoin over a period Of nearly three years both individuals Face charges of conspiracy to commit Money laundering with Bill yuchenko Facing an additional charge of operating An unlicensed Money Services business The unsealing of the indictment marks a Significant milestone in the Investigation according to doj Assistant Attorney Kenneth polite the stolen Cryptocurrency from Mount gox allegedly Enabled billuchenko to help establish Btce a virtual currency change notorious For laundering funds for cyber criminals Worldwide the doj also claims that bill Yuchenko Werner and other unnamed Co-conspirators used a new york-based Bitcoin brokerage service to launder Over 6.6 million dollars transferring More than 300 000 Bitcoin to overseas

Bank accounts the funds were reportedly Sent to btce and tradehill another now Defunct exchange the cases related to The Mount gox hack have been brought to The doj's southern district of New York And Northern District of California Offices Robin Hood markets the popular Online brokerage has announced to the Removal of three cryptocurrency tokens From its platform effective June 27th Customers will no longer be able to Trade Solana cardano or polygon the move Comes shortly after the U.S Securities And Exchange Commission initiated legal Action against major crypto exchanges Binance and coinbase for allegedly Selling unregistered Securities the Regulatory Crackdown has resulted in Ripple effects across the crypto Industry with binance suspending US Dollar deposits and withdrawals citing Challenges posed by by the SEC and Freezing of assets meanwhile crypto.com Has made another announcement stating The closure of its institutional Exchange service the decision was Attributed to lack of demand in the U.S Market which has been impacted by the Recent Market downturn however Crypto.com clarified that its retail Exchange would continue to operate Without any changes the institutional Exchange catered to investors such as Pension funds mutual funds and

University endowments which may have Been deterred by the volatile crypto Market over the past year or so venture Capitalist firm Andreessen Horowitz has Set its sights on the yukai as the Potential future hub for the Cryptocurrency industry in a significant Move the firm has announced the opening Of its first International office in London which will also host its upcoming Crypto accelerator program the decision Comes in the wake of recent lawsuits Filed by the U.S Securities and Exchange Commission perceived by some as a Government attempt to undermine the Crypto ecosystem while Andresen Horowitz's expansion plans have been in Progress for more than six months the Regulatory uncertainties surrounding Crypto in the U.S and and positive Statements from UK prime minister urishi Sunak have undoubtedly influenced the Firm's strategic move while establishing An international office does not Guarantee exemption from U.S regulations Andreessen horowitz's move underscores The firm's acknowledgment of the Potential advantages offered by the U.S Regulatory environment the expansion Also signifies a notable departure for a Company that previously insisted on Having all its Partners reside and Operate solely within Silicon Valley Crypto.com has announced the closure of

Its institutional service for clients in The U.S said decision effective June 21st is attributed to the limited demand From American institutions in the Market's current landscape the winding Down of the institutional service will Not impact crypto.com's retail app which Is used by over 80 million people Worldwide this development comes amid a Challenging environment for crypto Companies in the U.S with the recent Legal actions by the SEC against major Exchanges binance and coinbase the Company continues to provide its clients With the ability to buy sell and spend Cryptocurrencies using its plan form Including a Visa debit card for digital Asset transactions and finally strike a Digital payments firm specializing in Bitcoin transactions has completed the Transition of its customer assets to its Own in-house infrastructure the move led By CEO Jack mullers marks the Culmination of a two-year effort to Reduce counterparty risk and enhance the Performance of the company's products And services by bringing custody In-house strike eliminates the need for Custodial intermediaries and allows Users to directly custody their Bitcoin And Fiat assets with the company this Development enables strike to introduce New features such as peer-to-peer Bitcoin transfers the option to receive

Funds as cash or Bitcoin and the ability To make on-chain payments or utilize the Bitcoin lightning Network for faster Transactions mullers highlighted the Short and long-term benefits of the In-house custody transition for strike Users looking ahead muellers expressed The company's ambitious plans which Include expanding Global on off ramps Instant withdrawals improving limits and Introducing more cross-currency Capabilities and here's some Cross-currency capability for you I'll Give you one proud head nod for one like On this video One subscribe to our YouTube channel and why not thrown a Click on our little bell icon to get Buzzed whenever a new crypto espresso Video goes live I'd say that's a great Deal come on questions about our Headlines or crypto in general take the Plunge and desk Alex in that description Below Alex is always a great resource For all things web 3 and the metaverse End that about does it for today as Always I've been your host Andrew these Have been your headlines and we'll see All of your beautiful shining faces Tomorrow