Crypto News Summary by U.Today By U.Today

U.Today – Read U.Today's top three stories to find out what's happening in the world of cryptocurrencies.

Top Lawyer Says Coinbase (NASDAQ 🙂 Is Fighting a “Broken Regulator”

In a recent post on “Big props to @iampaulgrewal and the entire @Coinbase legal team for continuing to fight the good fight against a broken regulator,” Alderoty wrote. The endorsement comes as Coinbase is working to have the damning lawsuit dismissed. Paul Grewal recently posted a thread on Platform X outlining Coinbase's position regarding the SEC lawsuit. Among other things, he wrote that the SEC continues to claim broad authority over all types of investments without a clear limiting principle, stating that the company does not offer securities and relying on its legal arguments. The crypto community is closely following the case as it may set an important precedent for the entire industry.

Tron founder withdraws billions of SHIB from Binance

Data provided by the @spotonchain X account shows that Tron founder Justin Sun recently purchased an impressive amount of tokens and withdrew them from Binance. However, this was not the only cryptocurrency Sun acquired; the list of assets includes LINK, FLOKI and other popular cryptocurrencies. Taking a closer look at the Tron founder's transactions, we see that his -0x9fcc wallet withdrew $3.54 million in cryptocurrency. The transactions included 79,443 million SHIB, 1.7 million MANA, 100,100 BAND, 27,164 million FLOKI, almost 62,000 LINK, etc. Last December, Sun purchased and withdrawn a huge amount of SHIB (500 billion tokens to be exact) which was then followed by another 77 billion SHIB purchased and withdrawn from Binance. Back then, SHIB team member @vetkusama suggested two likely reasons behind those withdrawals: first, the Tron founder wanted to participate in the decline of SHIB supply and burn the purchased tokens, and second, perhaps, Sun was planning to merge the Tron blockchain with Shibarium. .

$1 Million Bitcoin (BTC) Advocate Samson Mow Slams JP Morgan CEO

Jamie Dimon, CEO of JPMorgan, recently issued a warning against participating in , labeling the largest cryptocurrency as a tool used primarily for money laundering and fraud in a recent interview. Dimon's opinion was supported by renowned financier James Lavish, who highlighted the intelligence of the JPMorgan CEO, suggesting that he is fully aware of how disruptive Bitcoin can be to traditional banking. However, Samson Mow, a strong Bitcoin advocate known for his “$1 million per BTC” stance, criticized the banker, saying that instead of fighting Bitcoin, the banking sector should embrace it. According to Mow, Dimon should turn JPMorgan into a “Bitcoin bank” to keep the company relevant in the rapidly evolving financial world. “Bitcoin is money now. To deny it is simply being too forward-thinking,” Mow concluded at the end of his X thread.

This article was originally published on U.Today.