The U.S. Securities and Exchange Commission launched an investigation against Binance to determine if its BNB token was trading as an unregistered security when it first launched in 2017. The investigation will determine if Binance Holdings Ltd. breached securities rules by selling digital tokens five years ago. More: - Binance's initial coin offering (ICO) was in July 2017, including a $15M fundraise. The cryptocurrency exchange is the fifth largest exchange in the world by market cap.
- The SEC is looking into the ICO to determine whether the coin offering fits the description of a sale of a security that should have been registered with the agency.
- A Binance spokesperson responded by saying, "As the industry has grown at a rapid pace, we have been working very diligently to educate and assist law enforcement and regulators in the U.S. and internationally while also adhering to new guidelines. We will continue to meet all requirements set by regulators."
- BNB dropped 4% in trading volume following the news.
- The SEC is not investigating companies that are operating under Binance.
- The report also mentions that the SEC is investigating whether Binance's employees also engaged in insider trading.
Related: - A Reuters investigation found that Binance was used to launder at least $2.35B in illicit funds between 2017 and 2021.
U.today 
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Yuga Labs proposed to create its own blockchain, but a vote showed that the ApeCoin community wants to remain on the Ethereum network. The ApeCoin Improvement Proposal (AIP) 41 aimed to create a proprietary blockchain for the Yuga Labs community that would migrate off Ethereum. More: - Yuga Labs has a multitude of projects built on the Ethereum network include the BAYC collection, Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC).
- Some community users find that the Ethereum gas fees are too high for them to sustain activity in the ecosystem.
- In response to this concern, the company launched The AIP-41 proposal which stated: "at least for the time being, Apecoin should remain within the Ethereum ecosystem, and not migrate elsewhere to an L1 chain or sidechain not secured by Ethereum."
- Votes were cast to see if the ApeCoin community agrees or disagrees with the statement, and 91% of the ApeCoin holders supported the proposal, with only 9% wanting to move to a new chain.
- The advantage of being on the Ethereum blockchain is that it is profitable for APE holders, and since APE is a metaverse currency, it's best to remain on the network.
Decrypt
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 A message from AXONIUS On July 14, 2021, the world welcomed a newborn. Named Cyber Asset Attack Surface Management (CAASM), Gartner announced its arrival in the Hype Cycle for Network Security 2021. New acronyms and repackaged tools aimed at IT and security professionals pop up every year, though. So what makes CAASM different? What’s driving its adoption? And how can we expect it to impact cybersecurity initiatives? We’re here to answer these important questions and help you navigate the new world of CAASM. Download “From Asset Management to Asset Intelligence: Crossing the CAASM” now to learn: - The history behind CAASM
- Why CAASM is a relevant category for IT and Security professionals
- How organizations can realize CAASM’s value — immediately
Read Now
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Latin American crypto companies are starting to downsize their departments in preparation for the "crypto winter." Several companies in both the U.S and Latin America have announced layoffs and changes in their hiring policies due to the current economic environment. More: - 2TM, the company behind Mercado Bitcoin, the largest crypto exchange in Latin America, is laying off 12% of its 750 employees in an effort to reduce operating expenses.
- In addition, Bisto, Mexico's largest crypto platform, plans to lay off 10%, a total of 80 employees.
- Buenbit, an Argentina-based crypto investment firm, is cutting 45% of its staff, from 180 to 100 active employees.
Decrypt
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Bitcoin and Ether rose by 4.6% and 5% Monday morning following a six-month sell-off period. Crypto continues to follow trends similar to the stock market as both markets enter a recovery period. More: - Futures tied to stocks increased Monday morning, which has some investors wondering if this is a permanent or temporary relief period.
- Crypto prices dropped by 20% in April and another 27% in May as the UST algorithmic stablecoin collapsed.
- A JPMorgan strategist, London-based Nikolaos Panigirtzoglou, predicts a potential 30% upside for Bitcoin; however, it is likely to drop in value in the coming months before it starts to climb again.
NBC News
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Sen. Cynthia Lummis' (R-Wyo.) crypto bill is about to debut after months of anticipation. The new legislation is co-authored by Sen. Kirsten Gillibrand (D-N.Y.) and will be released on Tuesday. More: - Lummis will reveal her crypto regulation plan over a series of podcast appearances, industry events, and a media tour.
- The crypto industry, including startups and VCs, is anticipating the details of the new bill. Miles Jennings, crypto general counsel at Andreessen Horowitz, said: "This is the starting point for discussions about what the law should look like ... I think that is one of the reasons we're excited about it."
- The bill will potentially cover how crypto will be regulated, from tax policy to exchange regulations, including legal definitions of "digital money."
- "We've been teasing it for months, but the time is almost here — a proposal to fully integrate digital assets into our financial system. Excited to finally unveil this effort next week. Stay tuned," said Lummis.
- Lummis and Gillibrand have received numerous suggestions from leading crypto startups and supporters on what to include in the bill.
Politico
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A soccer-based crypto token that promised to revolutionize the world of soccer declined by 98%. The FootballStars token was promoted by Croatia's leading players, including Romelu Lukaku, Achraf Hakimi, Ashley Young, and Marcelo Brozovic. More: - The popular soccer players promoted the crypto token by releasing statements like "I love football and I love crypto." The token appeared on the players' social media platforms, reaching tens of millions of soccer fans worldwide.
- The token's price has plunged by 98%, and since then, the FootballStars token's website has vanished, and its social media accounts have stopped posting.
- Fans around the world have lost their investment in the token as "everything turned to dust" during the massive crypto sell-off period in May.
The Athletic
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
CAASM is on the rise - but what exactly does it mean? Read this ebook to find out why it’s relevant. Read Now. | |
