The biggest news in the cryptosphere for Sept. 23 includes Kraken’s former compliance chief’s switch to Binance, the new patent infringement lawsuit Coinbase has to face, and Bitcoin mining firm Compute North’s chapter 11 bankruptcy.
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Steven Christie left Kraken to become Binance’s new senior vice president of compliance. He is leading a 750 people team in Binance, including the cyber investigations team.
Compute North, a Bitcoin (BTC) mining data center, has filed for Chapter 11 Bankruptcy. The company reportedly owes $500 million to nearly 200 creditors while having assets valued between $100 and $500 million.
In one day, the Commodity Futures Trading Commission (CFTC) fined a blockchain trading protocol, bZeroX, and filed a federal civil enforcement action against bZeroX successor, Ooki DAO (OOKI).
The CFTC revealed that bZeroX was operating an illegal decentralized trading service from 2019 to 2021. Ooki DAO, on the other hand, faced federal civil enforcement action for allegedly offering illegal leverage and margin trading.
Shareholders of the bankrupt Celsius Network want the company to dollarize the crypto holdings of its customers and pay them their shares.
The stakeholders argue that the Unsecured Creditors Committee is prioritizing the retail customers to ensure they get maximum value without considering the situation of the equity holders.
IRS secures court approval to probe records of M.Y. Safra Bank, SFOX users over failure to report taxes
The International Revenue Service (IRS) has been legally going after M.Y. Safra Bank users, arguing that they failed to pay their taxes.
On Sept. 22, a U.S. judge granted the IRS a petition which forced M.Y. Safra Bank to submit records of its taxpayers. Upton receiving the petition, the IRS also insisted on receiving the same records from the cryptocurrency prime broker SFOX, saying that the M.Y. Safra Bank offered services to SFOX users as well.
Former Secretary of State for Digital, Culture, Music and Sport Matt…