The negotiations between Binance US and the SEC mark a crucial milestone in the ongoing dispute between the regulator and centralized crypto exchanges. Meanwhile, a new trading platform called Tradecurve has sprung up which allows users to manage their private keys.
On June 5, the SEC filed 13 charges against Binance entities and its founder Changpeng Zhao, for operating an illegal exchange and offering unregistered securities.
On June 6, the US SEC proceeded to file a lawsuit against Binance US on June 6th asking the court to temporarily freeze its assets. The SEC accused Changpeng Zhao, the CEO of Binance, of misusing Binance.US customers’ funds.
Binance US and the SEC are now actively engaged in negotiations to find a resolution that would prevent a complete freeze of the firm’s assets. According to a report by Bloomberg on June 14th, U.S. District Judge, Amy Berman Jackson, has referred both parties to a magistrate judge to work towards a compromise arrangement that would protect customers’ funds while allowing the exchange to continue operating.
The Judge emphasized that a complete shutdown would have far-reaching consequences for the company and the entire cryptocurrency market. As a result, she will only make a final decision after hearing the outcome of both parties with the magistrate.
However, Binance founder Zhao has since rebuffed the SEC allegations, labeling them false.
While the crypto community awaits the result of the negotiations between Binance US and the SEC, the DeFi (Decentralized Finance) space is buzzing with excitement.
Hybrid has been receiving a lot of attention over the crackdown on centralized exchanges, and Tradecurve has emerged as a promising player in the DeFi arena.
Unlike centralized exchanges, decentralization is one of the platform’s focuses as it gives traders full power and control over their assets and private keys.
This is something that is not available with most centralized exchanges like Binance and OKX. Other of Tradecurve’s key strengths lies in eliminating Know Your Customer (KYC) requirements, low trading fees, and access to more tradable assets and derivatives.
The utility token of the Tradecurve platform, TCRV, will give holders reduced subscription fees, staking rewards, and the ability to participate in governance voting, thereby having a say in the platform’s decision-making processes.
Tradecurve is now in the fourth stage of its token presale and goes for $0.018 per token. Industry experts have predicted a potential 35x increase in value in the coming weeks due to high demand and up to a 100x price jump as the platform receives more traders from centralized exchanges.
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