Big Trouble for US Binance? How to Lose an NFT in 4 Seconds & The SEC Strikes Back = Coinbase Style

In the latest episode of the podcast, Trace, Blake and Craig discuss the news in the world of cryptocurrency hot off the press over the last seven days. The trio cover a wide range of topics, including the recent lawsuit filed by the US government against Binance, which could have significant implications for the popular cryptocurrency exchange.

Binance is one of the largest and most popular cryptocurrency exchanges in the world, with a reported user base of over 15 million. However, the US government has accused the exchange of operating in the country without being registered with the appropriate regulatory bodies. This could potentially result in heavy fines and other penalties for Binance, which has already faced regulatory scrutiny in several other countries.

The team also dives into the recent news surrounding Coinbase, one of the largest cryptocurrency exchanges in the United States. The Securities and Exchange Commission (SEC) recently issued a WELLS notice to Coinbase, which is essentially a warning that the agency is considering taking legal action against the exchange. The team discusses the potential impact this could have on the wider cryptocurrency landscape, as well as the implications for Coinbase's future operations.

One of the most shocking stories discussed in the episode is of a man who accidentally lost his $130,000 NFT in just seconds. NFTs, or non-fungible tokens, have become increasingly popular in recent years, with some selling for millions of dollars. However, this incident serves as a cautionary tale for those who may not fully understand the technology behind these digital assets.

The team also revisits the Euler DeFi hack scandal, which involved the theft of over $100 million in cryptocurrency from the decentralised finance protocol Euler. They also discuss the recent Arbitrum token launch, which saw users already utlising the protocol as part of the launch receiving a free airdrop of tokens.

Whether you're a seasoned crypto enthusiast or just starting to explore this exciting new space, this episode is a great way to get a quick and informative overview of the most recent developments in the crypto world so be sure to tune in.