Today in Crypto: Genesis Creditors Sue DCG and Barry Silbert, Binance Kept Some Collateral in Same Wallet as Customer Funds, Binance Processed $346M for Bitzlato

Source:
AdobeStock
/
Iryna
Budanova

Get
your
daily,
bite-sized
digest
of
cryptoasset
and
blockchain-related
news

investigating
the
stories
flying
under
the
radar
of
today’s
crypto
news.__________

Legal
news

A
group
of

Genesis
creditors
filed
a
class
action
(SCA)
lawsuit
against
its
parent,
the
troubled
cryptocurrency
company

Digital
Currency
Group
(DCG).
US-based
law
firm

Silver
Golub
&
Teitell
filed
the
suit
against
DCG
and
its
founder
Barry
Silbert,
alleging
violations
of
the
federal
securities
laws,

said
the
press
release.

Exchange
news

Binance
mistakenly
kept
collateral
for
some
of
the
crypto
assets
it
issues
in
the
same
wallet
as
funds
belonging
to
its
customers,
Bloomberg

reported,
citing
a
Binance
spokesperson.
“Collateral
assets
have
previously
been
moved
into
this
wallet
in
error
and
referenced
accordingly
on
the
B-Token
Proof
of
Collateral
page,”
the
person
was
quoted
as
saying.
“Binance
is
aware
of
this
mistake
and
is
in
the
process
of
transferring
these
assets
to
dedicated
collateral
wallets.”
Assets
held
with
the
exchange
“have
been
and
continue
to
be
backed
1:1.”

Binance
processed
almost
$346
million
in

bitcoin
(BTC)
for
the

Bitzlato
exchange,
whose
founder
was
arrested
by
US
authorities
last
week
for
allegedly
running
a
“money
laundering
engine,”
Reuters

reported,
citing
data
by
blockchain
research
firm

Chainalysis.
A
Binance
spokesperson
said
it
had
“provided
substantial
assistance”
to
international
law
enforcement
to
support
their
investigation
of
Bitzlato.

Deribit
selected
the

Validus
platform
by

Eventus,
a
provider
of
multi-asset
class
trade
surveillance
and
market
risk
solutions,
to
provide
market
abuse
monitoring
on
the
exchange.

According
to
the
press
release,
Deribit
will
begin
using
Validus
this
quarter.

Investment
news

QuickNode,
an
end-to-end
development
platform
for

Web3
builders,
announced
the
closing
of
a
$60
million
Series
B
funding
round
led
by

10T
Holdings
with
participation
from

Tiger
Global,

Seven
Seven
Six,

Protocol
Labs,
and

QE,
among
others.
This
latest
round
values
QuickNode
at
$800M
and
will
be
used
to
“accelerate
the
company’s
global
expansion
and
further
empower
the
builders
laying
the
groundwork
for
a
decentralized,
globally-connected
future,”
an
announcement
said.
   

DeFi
news

Ethereum
scaling
solution

zkSync
integrated

Unstoppable

Web3
domains
into
their
Wallet
and
Checkout
apps.

Per
the
announcement,
this
allows
their
community
to
send
and
receive
crypto
with
other
zkSync
Wallets
using
human-readable
names
instead
of
random
addresses.
Also,
zkSync
Checkout
users
can
create
payment
links
with
their
Unstoppable
Web3
domains
to
share
and
collect
crypto
payments.

Crypto
wallet

Lemon
Cash
integrated
the

Aave
Protocol
into
its
application,
making
the
decentralized
finance
(DeFi)
platform
available
through
Lemon
Earn.
An
announcement
said
that,
with
over
1.7
million
users
in
Argentina
and
Brazil,
the
integration
would
allow
users
to
invest
in
a
variety
of
tokens,
and
it
would
be
the
first
of
its
kind
in
the

LATAM
region.

Router
Protocol,
an
infrastructure
layer
enabling
communication
between
blockchains,
announced
a
partnership
with

FXDX,
a
decentralized
on-chain
derivative
exchange,
to
power
its
cross-chain
launch
on

Optimism,
a
layer
2
scaling
solution
for
Ethereum.
Per
a
press
release,
“going
live
on
Optimism
marks
a
significant
step
in
FXDX’s
multi-chain
expansion

a
growth
strategy
that
will
propel
trading
volumes
and
bring
new
users
to
the

dApp.”

Payments
news

Financial
services
company

ZEBEDEE
and
podcasting
platform

Fountain,
where
listeners
and
podcasters
get
rewarded
for
the
value
they
provide,
today
announced
they
have
entered
into
a
partnership
and
integrated
bi-directional
bitcoin
streaming
into
the
Fountain
app.
According
to
the
announcement,
“with
this
new
integration,
the
Fountain
app
doesn’t
just
stream
audio,
it
streams
money
seamlessly
alongside
it,
in
both
directions.
This
means
listeners
can
support
creators
by
paying
for
content
per-minute
as
they
listen
to
it.
When
you
stop
listening,
the
money
stream
stops
and
you
only
pay
for
what
you’ve
actually
listened
to.
Perhaps
more
excitingly,
the
integration
works
the
other
way
around
as
well,
as
Fountain
users
will
earn
money
[BTC]
for
their
first
hour
of
daily
podcast
listening,”
it
said. 

Career
news

Crypto
exchange

Kraken
said
it
named
CJ
Rinaldi
as
its
new
chief
compliance
officer,
hiring
him
from
rival

Blockchain.com,
The
Wall
Street
Journal

reported.
Before
joining
London-based
Blockchain.com
in
October
2021,
Rinaldi
was
the
head
of
markets
compliance
in
the
Americas
for
broker-dealer

Deutsche
Bank
Securities
Inc.