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Crypto Evening Briefing: US Loses Crypto Market Share In Q1 2023 Amid US SEC-Led Crackdown

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US Loses Crypto Market Share In Q1 2023 Amid US SEC-Led Crackdown: Report

According to a report by TokenInsight, US-licensed crypto exchanges, including Coinbase, Kraken, and Binance.US, lost market share in 2023 Q1. The report showed that the top 15 exchanges recorded a total volume of $10.8 trillion, a 40% increase compared to 2022 Q4. However, US-based crypto exchanges failed to capitalize on the surge, with trading volumes dropping.

KuCoin Confirms an Exchange User Is Behind Alleged Daily Rug Pulls

Crypto exchange KuCoin has confirmed that the address allegedly responsible for launching thousands of meme coin scams belongs to one of its users. However, the exchange will not freeze the user's assets without any official notice from law enforcement. 

Binance Japan Will Start Operations After June

Binance, the world's largest cryptocurrency exchange by trading volume, is set to launch a new service in Japan after acquiring regulated crypto exchange Sakura Exchange BitCoin (SEBC) last year.

South African Mirror Trading's CEO Fined $3.4B by U.S. in Bitcoin Forex Fraud Case

The head of bitcoin pool operator Mirror Trading International (MTI), Cornelius Johannes Steynberg, has been ordered by a US court to pay $3.4 billion in restitution and penalties, the highest civil monetary penalty ordered in any case brought by the Commodities Futures Trading Commission (CFTC).

Hong Kong Regulator Reminds Local Banks There Is No Ban on Crypto Firms

Hong Kong's central bank, the Hong Kong Monetary Authority (HKMA), has reminded banks that they can provide banking services to virtual asset (VA) companies, as some businesses have complained about the difficulty of opening bank accounts in the jurisdiction.

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $29,264.65 USD, jumped by 3.15% in the last 24 hours;

ETH’s live price is $1,900.18 USD, jumped by 1.09% in the last 24 hours;

BNB’s live price is $322.47 USD, dropped by 2.30% in the last 24 hours;

XRP's live price is $0.4713 USD, jumped by 2.67% in the last 24 hours.

Fundraising News

Giddy Smart Wallet Secures $6.9M in Funding to Accelerate Mainstream DeFi Adoption

Giddy, a provider of recoverable self-custody smart wallet technology, has secured $6.9 million in a new investment round led by Geremy Mustard, co-creator of the game Fortnite.

NFTGo Completes $4 Million Bridge-Round Financing

According to Segyebiz, NFT data and order aggregation platform NFTGo has completed a $4 million bridge-round financing, with follow-on investments from Qiming Venture Capital and Hash Global, and new investors including 500 Global and Skyland Ventures. 

Web3 Data-Driven Influencer Network Aki Protocol Completes Seed Funding Led by Emoote and Mask Network

Aki Protocol, a Web3 data-driven influencer network, announced the completion of its seed round of financing, with a valuation of $40 million. Emoote of Akatsuki Web3 Fund and Mask Network led the investment, and other institutions, including Maezawa Web3 Fund, Incuba Alpha, Meteorite Labs, CatcherVC, Alchemy Pay, Futurism Labs, and Oxbull, participated. Angel investors include founders of star projects such as CyberConnect, SynFutures, DODO, and Hooga Gaming.

Bitcoin Bitcoin $64,886.64
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