United States-based cryptocurrency exchange Binance.US has experienced a significant decline in its market share, exceeding 20 %, due to a lawsuit filed by federal financial regulators.

According to a Reuters report on July 5, which is based on data provided by Kaiko, Binance.US’s market share in the United States fell from over 22 % in April to approximately 0.9 % on June 26.

In June, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance.US, Binance, and its CEO, Changpeng Zhao (CZ), accusing them of operating as an unregistered stock exchange. Furthermore, in March, the Commodity Futures Trading Commission also filed a similar lawsuit against Binance and Zhao.

On the other hand, Coinbase is facing a similar lawsuit from the SEC. However, according to data provided by Reuters, the market share of this cryptocurrency exchange in the United States increased from approximately 48 % to 55 % in June.

This rise may be related to at least three SEC filings designating Coinbase as a watchdog partner in asset managers’ efforts to launch a Bitcoin-backed ETF in the United States.

K. Tovar

Source: Cointelegraph

(Reference image source: Kanchanara, Unsplash)

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La entrada Binance.US market share falls due to regulatory lawsuits in the US apareció primero en Bitfinance.

FTX Europe announced on March 31 that it will return funds to local users. Only users who opened their accounts at FTX.com/eu in 2022 will be able to benefit from this measure.

Clients, according to the subsidiary, will first receive an account statement with the balance in fiat money. Subsequently, they will be indicated the channels that will be enabled to receive their money.

According to the iProUP portal, “the measure does not cover those customers who operated via any other division of the FTX Group, even if they currently reside in Europe. Therefore, clients of FTX International and FTX.US, for example, will still have to wait for news.

FTX’s European clients will be able to consult their assets through ftxeurope.eu, a platform that will also allow them to process withdrawal requests.

While this measure is being applied, the rest of the platform’s clients in the world are waiting for an equitable solution that benefits them, and they can recover their assets.

M.Pino

Source: iproup

(Reference image source: Bastian Riccardi, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada FTX Europe launches asset return plan to local users apareció primero en Bitfinance.

A coalition of 37 attorneys general in the United States filed a lawsuit against Google in California for alleged monopolistic conduct in relation to its application Google Play Store.

The lawsuit is led by the Utah attorney general. It has been joined by the attorneys general from 35 other states in the country, in addition to Washington DC.

“Google’s monopoly is a threat to the market. Google Play is not fair. Google must be prosecuted for harming small businesses and consumers. It must stop using its monopoly power and hyper-dominant market position to capture billions of dollars of SMEs, competitors and consumers above what they should pay,” said Utah Attorney General Sean Reyes.

This new lawsuit accuses Google of having used its dominant position to unfairly restrict competition with the Google Play Store. The complaint argues that the technology company originally sold Android as an “open” system, causing manufacturers to use it and not compete with Google Play at that time. According to the lawsuit, once the company had a “critical mass” of users, it began shutting down the Android ecosystem.

Specifically, the attorneys general accuse the giant of imposing technical barriers that prevent users from installing applications outside the Play Store. They also ensure that the company forces device manufacturers to sign agreements to prevent them from developing versions of Android that deviate from the version certified by Google.

K. Tovar

Source: Xataka Android

La entrada Google was sued for alleged monopoly apareció primero en Bitfinance.