Beaxy Exchange Shuts Down Following SEC Action – March 29

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$28,197

Bitcoin price has shot back up toward its recent highs as it breaches the $28,000 mark once again, despite bad news for leading exchange Binance.

Top-20 altcoins have also performed well, as Ether gains 3%, BNB rises 2% and XRP continues to rally with a 9% gain.

Top Stories for March 29, 2022 🔥

👉 Beaxy Exchange Shuts Down Following SEC Action

Crypto exchange Beaxy has shut down after being charged by the US Securities and Exchange Commission (SEC) for operating an unregistered exchange and brokerage.

The SEC also alleged that the exchange illegally raised $8 million in the offering of an unregistered security, its BXY token, while Beaxy’s founder misappropriated at least $900,000 for personal use, including gambling.

👉 Binance Reportedly Hid Links To China For Years

Binance continues to get in trouble this week as the exchange giant, has been accused of hiding its links to China – despite claims it removed itself from the country in 2017.

According to internal company documents, top executives, including CEO Changpeng Zhao, instructed employees to conceal the company’s presence in China, using a Chinese bank to pay some salaries and keeping an office in the country until the end of 2019.

The accusations follow the announcement that the US CFTC is suing the exchange for unregistered trading activity in the US.

👉 US And South Korea Seek Do Kwon’s Extradition

US and South Korean authorities are seeking Terra co-founder Do Kwon’s extradition, following his arrest in Montenegro. Montenegro’s justice minister said both countries had made efforts to have Kwon extradited, and a decision on custody would be made by Montenegro’s high court.

Kwon may face charges in Montenegro relating to allegedly forged passports before any extradition is granted. Terra collapsed in May 2022, and his whereabouts were largely unknown until his arrest.