The US regulatory authorities have filed a lawsuit against Binance, accusing the world’s largest cryptocurrency exchange of regulatory violations, including insider trading and evading oversight by concealing office locations. Binance’s CEO, Changpeng Zhao, has rejected the allegations and denied the company’s engagement in insider trading. Meanwhile, Galaxy Digital, founded by billionaire Mike Novogratz, has swung to a profit after a net loss of $1 billion in 2022, thanks to strategic moves and Bitcoin’s price recovery.
Disney has reportedly scrapped its metaverse division as part of a cost-cutting plan, while China continues to develop its fintech industry with a strong focus on blockchain technology, with plans to improve blockchain development standards by 2025.
