![]() Deaton noted that Norman Reed’s decision to stay with Binance.US amidst the turmoil could carry positive implications, though uncertainty still looms. 1, 2022, customers will no longer receive rewards for QTUM, EOS, and ONE tokens. John Deaton, a pro-XRP attorney, commented on Reed’s appointment via Twitter, highlighting Reed’s involvement in the 2015 settlement and the government’s access to XRP sales data. Binance.US today announced plans to permanently discontinue staking rewards for Qtum (QTUM), EOSIO (EOS), and Harmony (ONE). Binance.US customers can now buy, sell, convert, or stake ALGO in minutes on the largest major staking provider in. Some experts view this appointment as a potentially positive development for the beleaguered exchange, although others remain cautious. Customers can now stake ALGO and earn up to 6 APY at launch the highest APY of any major staking provider in the U.S Get paid weekly when you stake ALGO on the largest major staking platform in the U.S. Department of Justice, which classified Ripple-linked XRP as a “convertible virtual currency.” Reed played a significant role in the 2015 settlement between Ripple and the U.S. Former Ripple Counsel Steps In As Interim CEO Of Binance.USĪ glimmer of hope has emerged in the form of Norman Reed, former general counsel of Ripple, who has assumed the role of interim CEO at Binance.US. Currently, the exchange faces internal challenges, grappling with a series of executive departures and layoffs. This decision had a significant impact on the already declining exchange activity. In response to the lawsuit, Binance.US took action by suspending trading for more than 100 token pairs. In response, the SEC accused it of neglecting to register as a broker-dealer and failing to register its staking-as-a-service program. The lawsuit filed against the exchange alleged multiple violations, which included unregistered securities offerings and wash trading. This sharp drop can be attributed to the Securities and Exchange Commission’s (SEC) lawsuit against Binance and Binance.US, filed on June 5th. ![]() The decline in trading activity hit its bottom on September 9th, when Binance.US recorded a meager $2.97 million in trading volume.
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