amelia569082

@amelia569082

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Kwon’s case parallels that of former FTX CEO Sam “SBF” Bankman-Fried — another crypto executive who was subject to another country’s jurisdiction (the Bahamas) before being extradited to the US. In SBF’s case, his lawyers were able to argue a campaign finance charge added to a superseding indictment should be dropped as it was not part of the extradition request.

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@browncathy7611

Bankman-Fried was later convicted of seven felony counts and sentenced to 25 years in prison, but he has filed an appeal.

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Former Binance CEO Changpeng Zhao — another significant industry figure — pleaded guilty to one charge and served four months in prison in 2024.

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@jonesjenny8290

As of Jan. 2, USDC’s circulating supply is approaching $44 billion, nearly double the 2023 low of less than $24 billion, according to CoinGecko.

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Meanwhile, holdings are more evenly distributed among blockchain networks as users migrate beyond Ethereum, Blockworks data analytics manager Dan Smith said in a Jan. 2 post on the X platform.

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@danawilson4768

The shift reflects increasing onchain activity and the rise of alternative layer-1 networks such as Solana and Hyperliquid. Analysts expect the trend to continue, with USDC’s market capitalization potentially doubling this year.

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As of Jan. 2, approximately 65% of USDC supplies are on Ethereum, 10% are on Solana, and roughly 15% span Base and Arbitrum — both Ethereum layer 2s — as well as Hyperliquid, a layer 1 for low-latency trading.

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In 2023, USDC remained heavily concentrated on Ethereum, which held 85% of the stablecoin’s circulating supply, Smith said.

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@merfilwilliams

This change is partly because “retail traders increasingly enter the crypto market through Solana [as] speculation intensifies around Solana-based memecoins and AI agent tokens,” Grayscale said in a December research note.

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In 2024, the total value locked on Solana surged from around $1.5 billion in January to nearly $8.5 billion by December, according to data from DefiLlama.

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In 2024, the total value locked on Solana surged from around $1.5 billion in January to nearly $8.5 billion by December, according to data from DefiLlama.

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With the approval, Hexarq is officially authorized to provide a scope of crypto services, including crypto custody, as well as buying, selling and trading crypto against the euro.

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According to online reports, BPCE’s Hexarq is all set to start offering cryptocurrency investment services within the Banque Populaire and Caisse d'Épargne networks in 2025.

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Launched in January 2021, Hexarq is a digital asset service platform focused on cryptocurrencies and tokenized real-world assets (RWA).

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Following the AMF’s authorization, Hexarq will reportedly integrate its crypto app into BPCE’s two main banking networks, Banque Populaire and Caisse d'Épargne, making it available for their customers.

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If confirmed, BPCE’s crypto entrance will be significant to the industry as the banking group has 35 million customers, with assets under management peaking at roughly 1.3 million euros ($1.3 million) by the end of September 2024.

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According to official AMF records, there are only three other companies that have received CASP authorization from the regulator, including Société Générale’s crypto subsidiary, Forge, which obtained the approval in 2023.

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As previously reported, AMF started accepting CASP applications in August 2024, or about six months ahead of the Markets in Crypto-Assets regulations, which are set to be fully enforced on Dec. 30.

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2024 will be remembered as one of the most transformative periods in the global crypto regulatory landscape. As crypto assets continue steadily into mainstream finance, policymakers worldwide are stepping up with comprehensive rules.

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