Published Sep 23, 2023 04:24PM ET Updated Sep 24, 2023 05:00PM ET
Binance.US scores against SEC, Mt. Gox delay repayments, and other news: Hodler’s Digest, Sept. 17-23
The United States Securities and Exchange Commission has failed to win immediate access to Binance.USs software, with the judge saying he isnt inclined to allow the inspection at this time. The hearing was held on Sept. 18 to discuss the SECs motion to compel Binance to hand over detailed information and make its executives more available for depositions. In a hearing, Judge Faruqui said that he wasnt inclined to allow the inspection at this time. Alternatively, he proposed that the SEC should come up with more specific requests for discovery and speak with a broader range of witnesses. In another headline, Binance global and its CEO Changpeng CZ Zhao requested dismissal of the SEC’s lawsuit filed against them in June, claiming the regulator overstepped its authority in the case.
Mt. Gox trustee Nobuaki Kobayashi has officially changed the deadline for paying back the exchanges creditors from Oct. 31, 2023, to Oct. 31, 2024. Presently, the Mt. Gox estate holds some 142,000 (BTC), 143,000 (BCH), and 69 billion Japanese yen. Mt. Gox was one of the earliest cryptocurrency exchanges, once facilitating more than 70% of all trades made within the blockchain ecosystem. Following a major hack in 2011, the site subsequently collapsed in 2014 due to alleged insolvency; the fallout affected about 24,000 creditors and resulted in the loss of 850,000 BTC.
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