Good morning, Tuesday. The alarm hasn’t even gone off, and I’ve already translated last night’s three updates ☀️
First, the SEC updated its crypto asset FAQ: Participants in a broad governance system who aren’t affiliated with one another and haven’t agreed to act together generally don’t count as a “central party.” My take: This is just the staff’s view, not an official rule, so don’t treat it as conclusive. But at least the question of “who calls the shots” is a little clearer now.
Second, CZ said Binance didn’t borrow money, sell assets, or raise funds this time—it covered the stolen funds entirely with its own assets. My take: The key words are “its own.” We’ll have to wait for official figures and proof to see how much was covered.
Third, North Korea denied having anything to do with the Binance theft, calling the US accusations “absurd remarks.” My take: Both sides are telling their own stories. Don’t take sides without new evidence; wait for verification.
What I’m watching today: follow-up interpretations of the SEC’s FAQ, and any new information on Binance’s recovery progress.
Which one would you like me to go into more today: the SEC item or the Binance follow-up?
First, the SEC updated its crypto asset FAQ: Participants in a broad governance system who aren’t affiliated with one another and haven’t agreed to act together generally don’t count as a “central party.” My take: This is just the staff’s view, not an official rule, so don’t treat it as conclusive. But at least the question of “who calls the shots” is a little clearer now.
Second, CZ said Binance didn’t borrow money, sell assets, or raise funds this time—it covered the stolen funds entirely with its own assets. My take: The key words are “its own.” We’ll have to wait for official figures and proof to see how much was covered.
Third, North Korea denied having anything to do with the Binance theft, calling the US accusations “absurd remarks.” My take: Both sides are telling their own stories. Don’t take sides without new evidence; wait for verification.
What I’m watching today: follow-up interpretations of the SEC’s FAQ, and any new information on Binance’s recovery progress.
Which one would you like me to go into more today: the SEC item or the Binance follow-up?
