Court approves protective order in SEC vs. Binance lawsuit

  • Court approves info disclosure order in SEC vs. Binance lawsuit.
  • The protective order allows confidentiality for trade secrets and customer info in discovery.
  • Binance challenges the SEC’s broad demands, protecting proprietary data.

A significant development has taken place in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance entities, including CEO Changpeng Zhao.

The US court has approved a protective order governing the production, use, and disclosure of information and materials related to the SEC vs. Binance lawsuit.

Protecting confidential information

The approved protective order establishes guidelines for the treatment and disclosure of confidential information generated during the lawsuit.

Parties involved are permitted to designate discovery material as confidential, provided it falls within specific categories defined by the court. These categories include nonpublic trade secrets, proprietary financial information, details about the ownership or control of non-public companies, and non-public customer information, such as customer identities.

The order emphasizes that the confidentiality designation won’t apply universally but only to discovery material that precisely aligns with the court’s stipulations. This move seeks to strike a balance between the transparency required in legal proceedings and the protection of sensitive information.

Binance’s defence against SEC’s “fishing expedition”

Binance.US, amidst the legal proceedings, in August 2023 sought a protective order against the SEC, alleging an unwarranted “fishing expedition.” Binance argued that the SEC’s extensive discovery demands were overly broad and unreasonable. The regulatory body’s requests, Binance claimed, aimed at acquiring every document related to customer assets, posing a potential threat to the company’s proprietary information.

Binance expressed concern over the perceived unlimited authority granted to the SEC, enabling an investigation into all aspects of Binance.US’s asset custody practices without apparent limitations. This legal manoeuvre underscores the importance of establishing clear boundaries in regulatory investigations, preventing overreach and safeguarding the interests of the entities under scrutiny.

As the lawsuit unfolds, the protective order stands as a crucial mechanism ensuring a fair and controlled exchange of information. It reflects the court’s commitment to preserving the confidentiality of sensitive materials while facilitating a thorough examination of the issues at hand in the SEC’s case against Binance entities and CEO Changpeng Zhao.

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Bitcoin’s rise tops traditional markets: Injective & InQubeta prepare to jump

Bitcoin (BTC), InQubeta (QUBE), and Injective (INJ) are among the top crypto coins to invest in now. BTC, the king of cryptocurrencies, is officially back as its prices surge past the $37,000 mark for the first time in almost two years. Prices have expanded 31% in the past month and there’s a solid chance they will reach $50,000 before the end of 2023. 

Top DeFi projects InQubeta and Injective have enjoyed 130% and 113% price surges respectively. 

InQubeta uses decentralized finance to open up access to artificial intelligence (AI) investments, while Injective provides a wide range of decentralized finance tools from spot exchanges to lending protocols. 

InQubeta (QUBE) surges past $4.6 million 

The InQubeta project has been a massive hit with cryptocurrency investors since the start of its presale raising over $4.6 million in token sales. The ambitious new DeFi project provides an alternative investment medium for those who don’t meet the requirements of traditional investment avenues or don’t have access to them. 

The project aims to help push AI by helping companies that focus on the technology to secure capital, while simultaneously providing easier-to-access investment opportunities. The timing of the project’s launch couldn’t be any better as investor interest in AI is at an all-time high. The capital devoted to AI has grown 12x since 2015, and about $120 billion is invested in AI as of now. That’s an insignificant sum when compared to the $1.5 trillion expected to come into the AI space by 2030.

Artificial intelligence’s role in our lives will increase exponentially in the next several years as concepts that were once restricted to sci-fi content become a reality. Amazon now uses humanoid robots to perform repetitive tasks in one of its warehouses and Coca-Cola just created a new flavour using AI that had been fed large volumes of consumer data. 

AI is on course to create rewarding investment opportunities and those who back the technology position themselves to earn substantial profits. InQubeta now opens access to these opportunities to all who wish to participate. 

A new way to invest in AI

InQubeta showcases the major role decentralized finance will play in the future as it comes up with a secure, transparent, and efficient way for investors to back AI firms. Startups fundraise by making non-fungible tokens that represent investment opportunities. These are InQubeta’s version of stocks and they provide similar benefits. Some even give investors unique rewards like exclusive access to new products developed. 

Also called ERC20 coins, the NFTs made by these AI startups are posted on the marketplace where investors can learn more about the opportunities they represent and purchase tokens they find interesting with QUBE. QUBE can be acquired with top crypto coins like BTC, ETH, and LTC or debit and credit cards.

Investors can monitor the growth of any tokens bought through their InQubeta accounts and they can resell them on the NFT marketplace at any time. 

Injective (INJ) enjoys a massive 113% price surge

Injective is one of the best DeFi projects in the cryptocurrency space and its recent 113% surge is proof of how useful investors find the decentralized financial services it provides. However, technical indicators like its momentum at 2.11 might be a sign a strong reversal is about to occur. 

Bitcoin (BTC) is close to making $50k predictions a reality

Bitcoin (BTC) prices have been on a major bull run in the past 30 days, growing by over 33%, breaking the $37,000 resistance level. 

Standard Chartered’s predictions that BTC will reach $50,000 is a step closer and prices are expected to explode if one of the pending spot BTC ETFs are approved in the coming months. 

Summary

BTC, QUBE, and INJ should be on your list if you’re looking for the best cryptos to buy. QUBE’s growth potential has been compared to where Bitcoin was a decade ago, and prices are expected to grow up to 100x once launched. BTC and INJ could enjoy about 3x growth during that period. 

For more information on InQubeta, visit InQubeta Presale| Join The InQubeta Communities.

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