🕵️‍♀️ Coinbase Faces SEC Investigation Over Cryptocurrency Listings

Plus: The race to build a social media platform on the blockchain, Bipartisan Bill to Regulate Stablecoin Is Delayed Until September, and more…

Today’s pick

Coinbase Faces SEC Investigation Over Cryptocurrency Listings. Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter. The US Securities and Exchange Commission 's… (Allyson Versprille / Bloomberg)

Ally Versprille @allyversprille

SCOOP on @TheTerminal now: Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter. w/ @ElleBeyoud

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The race to build a social media platform on the blockchain. It's easy to be skeptical of the big social media giants — they typically sell user data to advertisers and have been mired in controversy for their approach to content moderation. Web3… (Anita Ramaswamy / TechCrunch)

dscvr.one ∞ @DSCVR1

We have a big announcement. We have raised a $9M seed round led by @polychaincap! 🎉 This will help DSCVR set the standard for Web3 social media. Thanks to @AnitaRamaswamy at @TechCrunch for breaking the news! techcrunch.com/2022/07/25/the… #seedround #crypto #web3

techcrunch.comThe race to build a social media platform on the blockchain – TechCrunchDSCVR, a DeSo platform built on Dfinity’s Internet Computer blockchain, just raised $9 million in seed funding led by Polychain

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Bipartisan Bill to Regulate Stablecoin Is Delayed Until September. WASHINGTON—U.S. House lawmakers are delaying consideration of a bipartisan bill to regulate so-called stablecoins, according to people familiar with the matter, pushing back consideration of the measure until after Congress' August break. (Andrew Ackerman / Wall Street Journal)

Andrew Ackerman @amacker

That House “stablecoin” bill won’t get a vote in committee this week, is now delayed until at least September.

wsj.comWSJ News Exclusive | Bipartisan Bill to Regulate Stablecoin Is Delayed for at Least Several WeeksLawmakers continue to negotiate a deal, but have been unable to complete work ahead of the August break.

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Alibaba scales back global expansion plan to rival Amazon. Chinese ecommerce giant fails to hit target of signing up million local US businesses while dozens of staff leave New York office We'll send you a myFT Daily Digest email rounding up the latest Alibaba news every morning. Alibaba's push to rival… (Eleanor Olcott / Financial Times)

Murad Ahmed @muradahmed

Alibaba’s push to rival Amazon by bringing US businesses on to its ecommerce platform is struggling, staff leaving. Scoop by @CristinaCriddle in @FT - on day the Chinese tech giant says it'll move towards dual primary listing in Hong Kong (Tip @Techmeme)

ft.comSubscribe to read | Financial TimesNews, analysis and comment from the Financial Times, the worldʼs leading global business publication

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If Someone Is Prattling On About Spam On Twitter And How That Helps Elon Musk, Send Them This Article. We've explained the details of Twitter's case against Elon Musk and the legal issues at play multiple times, but for reasons I don't fully understand, the general narrative on Twitter seems to be that Elon is likely to win the case, and it's… (Mike Masnick / Techdirt)

Mike Masnick @mmasnick

So I was getting frustrated with just how many people (mainly on Twitter) still seemed to believe that the Musk/Twitter fight is actually about how much spam is on the platform. It's not. I wrote an explainer that you can send to anyone who is confused.

techdirt.comIf Someone Is Prattling On About Spam On Twitter And How That Helps Elon Musk, Send Them This ArticleWe’ve explained the details of Twitter’s case against Elon Musk and the legal issues at play multiple times, but for reasons I don’t fully understand, the general narrative on Twi…

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