Genesis Files Lawsuit Against Gemini, $100 Million Heco Chain Breach

Market Update Equities are continuing the November rally, with the Nasdaq and S&P gaining 0.6% and 0.5%, respectively. The yield on the U.S. 10-Year Treasury dropped below 4.4% for the first time in two months, in spite of the recent FOMC minutes suggesting that the policy will stay 'restrictive' until there is a clear trend of inflation heading towards the Federal Reserve's target of 2%. $BTC is recovering to trade at $37k after tapping $35.6k following Binance's settlement with the U.S. Department of Justice, where it acknowledged violations related to anti-money laundering, unauthorized money transmission, and breaching sanctions. Binance has also reached settlements with the CFTC, FinCEN, and OFAC. As per the settlement terms, Binance will pay penalties and forfeitures totaling $4.3 billion, withdraw entirely from the U.S. market, and maintain an independent compliance monitor for three years. Additionally, CZ, who admitted guilt in contravening the Bank Secrecy Act and awaits sentencing in February, resigned as CEO and is barred from any involvement with Binance for a three-year period. The role of CEO will now be assumed by Richard Teng, Binance’s head of regional markets and a former regulator in Abu Dhabi. $ETH is trading above $2k after a brief sell-off, outperforming