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US Judge Allows Major Portion of SEC Lawsuit Against Binance and CZ to Proceed A United States court has ruled against cryptocurrency exchange Binance’s attempt to dismiss the majority of claims leveled against it by the country’s securities regulator, the Securities and Exchange Commission (SEC). According to the court filing by Judge Amy Berman Jackson on June 28, claims related to Binance’s staking program, the sale of BNB tokens following its initial coin offering, and anti-fraud violations will proceed. The court also upheld the SEC’s contention that former Binance CEO Changpeng “CZ” Zhao acted as a “control person” and that Binance was obligated to register under the Exchange Act.
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As the standards of the 802.11 WLAN series evolve technologically—particularly with recent advances in Wi-Fi 5 (IEEE 802.11ac) and Wi-Fi 6 (IEEE 802.11ax) that significantly boost data transmission speeds—Wi-Fi has become integral to modern electronic devices such as smartphones, tablets, laptops, and smart home systems, making it one of the most crucial infrastructures today. Most public places typically offer Wi-Fi networks as an auxiliary service. Currently, the global public Wi-Fi network encompasses nearly 700 million spots, growing at an annual rate of 10%. Despite this expansion, public Wi-Fi networks are usually not user-friendly. Most are sourced from private routers with the minority stemming from government, municipal, ISP hotspots, community, and commercial Wi-Fi operators. These networks often involve regional restrictions and cumbersome connectivity steps including repetitive logins, reconnections, password sharing, and redundant registrations.
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"As we approach Friday's large quarterly expiry, potentially influenced by 'quadruple witching' and related volatility in U.S. stock markets, over 25% of Deribit open interest is set to expire in-the-money, equating to over $2.7 billion. The total notional size of the expiry is over $10 billion," Luuk Strijers, chief executive officer at Deribit, told Coindesk in an interview. Options are derivative contracts that give the holder the right but not the obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. A call gives the right to buy, while a put offers the right to sell. On Deribit, one options contract represents one BTC or ETH. Having more than 25% of open interest set to expire in the money means a significant number of derivative contracts are expected to be profitable for their holders at expirations. Bitcoin, the leading cryptocurrency by market value, has dropped nearly 9% this month, testing bargain hunters below $60,000 at one point.
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It's that time again when discussions about activity in the crypto derivatives take precedence. On Friday at 08:00 UTC, bitcoin (BTC) options worth $6.68 billion and ether (ETH) options worth $3.5 billion are set to expire on the leading crypto derivatives exchange Deribit. The impending expiry, which represents over 40% of the current cumulative open interest of over $23 billion, could trigger a surge in market volatility. Large quarterly expiries often lead to increased volatility, making prices more unpredictable due to higher trading volumes and the closing/rollover of positions.
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