• Binance announced the launch of its off-exchange settlement solution for institutional investors, Binance Mirror.
• Binance Mirror accounts will feature a 1:1 balance on the exchange and the cold storage.
• The tokenization of institutional assets will help reduce theft of underlying digital assets.

Binance, the world-leading digital asset exchange, has announced the launch of its off-exchange settlement solution for institutional investors, Binance Mirror. This new initiative is designed to provide a secure environment for institutions to trade digital assets with greater ease.

The launch of Binance Mirror comes amid growing interest in digital assets from institutional investors, with more than 60 percent of all assets secured on Binance Custody. This makes Binance Mirror an attractive option for institutions looking to invest in digital assets.

The new service provides a 1:1 balance on the exchange and the cold storage, meaning assets stored in the Binance Mirror account will be securely held in a cold storage environment. This offers greater security for institutional investors, who can rest assured that their digital assets are safe from theft or loss.

In addition, the tokenization of institutional assets through Binance Mirror helps reduce the risk of theft of underlying digital assets. This is because customers can redeem their positions at any time, allowing them to recover any lost funds.

Binance CEO Changpeng Zhao commented on the launch of Binance Mirror, saying, “We are delighted to announce the launch of Binance Mirror, an off-exchange settlement solution for institutional investors. This offering provides greater security and flexibility for our institutional customers, who can trade digital assets with greater ease. We look forward to continuing to innovate and support the institutional market.”

Binance Mirror is an important step in the company’s efforts to make digital asset trading easier and more secure for institutional investors. The launch of Binance Mirror is a testament to Binance’s commitment to innovation and providing the best services for its customers.

• The US CFTC has filed charges against Avraham Eisenberg for allegedly manipulating and deceiving Mango Markets to borrow digital assets worth over $100 million.
• The CFTC believes Eisenberg artificially inflated the value of his swap contract holdings on Mango Markets to borrow the assets without intending to repay them.
• In his defense, Eisenberg claimed to have been involved in a highly profitable trading strategy that returned over $67 million to the Solana-based DeFi.

The United States Commodity Futures Trading Commission (CFTC) has recently filed charges against Avraham Eisenberg in the southern district of New York, accusing him of engaging in a manipulative and deceptive scheme to artificially inflate the price of swaps offered by Mango Markets between October 11, 2022, and October 15, 2022. According to the CFTC, Eisenberg exploited the decentralized crypto exchange Mango Markets to borrow a significant amount of digital assets worth over $100 million that he had no intention to repay.

Eisenberg attempted to defend himself by noting that he was involved with a team that operated a highly profitable trading strategy, which eventually returned over $67 million to the Solana-based DeFi. He claimed that all their actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they did.

The CFTC has accused Eisenberg of violating the Commodity Exchange Act and several other regulations, including the prohibition against offering false or misleading information, price manipulation, and market manipulation. The CFTC is seeking civil monetary penalties and other relief, including disgorgement of the benefits Eisenberg received from his unlawful activities.

The case is expected to be closely watched by the crypto community, as it could set a powerful precedent for how decentralized exchanges should be regulated. It is also a reminder that traders should always be aware of the risks of trading, and take steps to ensure they are taking the right steps to protect themselves and their investments.

• Voyager Digital and Binance.US have agreed to a $1.022 billion dollar asset purchase deal.
• The SEC has raised questions about the adequacy of the information Binance.US provided in its disclosure statement.
• Voyager Digital has responded to these objections by arguing that they lack factual or legal support.

Voyager Digital, a bankrupt cryptocurrency brokerage company, recently agreed to a $1.022 billion asset purchase deal with Binance.US, the US arm of the popular crypto exchange. This agreement has sparked objections from the Securities and Exchange Commission (SEC), who have inquired about the adequacy of the information Binance.US provided in its disclosure statement. The Commission is particularly concerned about the exchange’s ability to “consummate a transaction of this magnitude.”

In response to these objections, Voyager Digital has argued that they lack factual or legal support. They note that Binance.US offered the “highest and best bid” for their assets and that the exchange has made a $10 million deposit for the transaction. Voyager Digital also asserts that Binance has provided sufficient evidence to demonstrate its ability to complete the purchase.

The SEC has yet to make a final decision on the transaction and it is unclear if the objections will be upheld. However, Voyager Digital remains confident that their acquisition deal with Binance.US will be approved, citing their confidence in the exchange’s ability to close the deal. If the SEC does approve the transaction, Voyager Digital will be able to pay off their creditors and move forward with their operations.

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