3AC co-founders launch marketplace to trade crypto claims
Open Exchange said there is "a $20 billion market of claimants" desperately searching for a marketplace to monetize their claims against bankrupt crypto firms.
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Binance Asia-Pacific head Leon Foong said that a full audit of the exchange's reserves will take a while given that big accounting firms are still learning about the crypto sector.
WazirX said it was taking the necessary steps to seek recourse and protect its legal rights against the actions taken by Binance.
Ishan Wahi's lawyers argued that the assets involved in the case are not investment contracts and the SEC lacked congregational authorization to classify tokens as securities.
The DCG owes Bitvavo 280 million Euros — which equates to over $300 million. The exchange expects to publish the settlement soon.
Binance said its users' could use all other methods of buying and selling crypto, including bank transfers in other fiat currencies like Euros.
Binance said it has invited Zanmai to work out arrangements to withdraw any remaining assets in the relevant accounts after Feb. 3