Something’s up at Binance: top crypto and Web3 news for December 14 in brief

Published by
Tanja Nechet

What is going on in the cryptocurrency world and market today? There are a lot of things happening. There are always some ups and downs, intrigues, scandals, and investigations. All the most interesting in our selection.

If it’s not, so it’s what?

The U.S. Commodity Futures Trading Commission (CFTC) said in its lawsuit against FTX founder Sam Bankman-Fried that digital assets such as bitcoin (BTC), Ethereum (ETH), and Tether (USDT) are commodities.

A clear definition of crypto-assets in the U.S. is important because the CFTC regulates commodity futures and securities such as bonds and stocks are regulated by the Securities and Exchange Commission (SEC). And the latter has often referred to some cryptocurrencies as stocks.

Forte reinforcement

Blockchain-based game platform Forte has agreed to a partnership with venture capital studio SuperLayer.

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The Forte platform allows game publishers to easily integrate blockchain technology into their games, including features such as token wallets and transactions with NFT.

As part of the partnership, Forte will serve as the preferred provider of cryptocurrency and liquidity services for SuperLayer projects. And SuperLayer will provide infrastructure support for Forte’s expansion verticals.

Forte also contributed $5 million to a $25 million funding round that SuperLayer announced in August that led Polygon blockchain.

Is Binance having a hard time?

Binance CEO Changpeng “CZ” Zhao warned his employees that difficult times await them. This comes after a wave of cryptocurrency withdrawals from the exchange amid concerns about its financial health. CoinDesk writes this, citing an internal memo.

Since the beginning of this week, more than $900 million worth of cryptocurrencies have been withdrawn from the Binance exchange.

TEPCO goes crypto

Japan’s largest company Tokyo Electric Power (TEPCO) has teamed up with mining equipment manufacturer TRIPLE-1 and plans to use the excess electricity for cryptocurrency mining.

Tanja Nechet

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