THE HASH: Abra Insolvent for Months: Regulators; Tether’s Banking Relationships Detailed in Legal Documents

The most valuable crypto stories Friday, June 16, 2023.

“The Hash” hosts unpack today’s top stories: Binance’s French unit undergoes investigation by local authorities for the “illegal” provision of digital asset services and “acts of aggravated money laundering”. The exchange is also leaving the Netherlands after failing to acquire a license from the Dutch regulator. Separately, crypto lender Abra has been insolvent since at least March 31, 2023, state securities regulators alleged on Thursday. Plus, new documents obtained by CoinDesk under a Freedom of Information Law request, offer a rare but limited window into the reserves behind USDT. And, the latest on former President Donald Trump’s NFT project.

See also:

Binance Under Investigation in France for ‘Aggravated’ Money Laundering

Binance to Quit Netherlands After Failing to Acquire License

Crypto Lender Abra Has Been Insolvent for Months, State Regulators Say

Tether’s Banking Relationships, Commercial Paper Exposure Detailed in Newly Released Legal Documents

This episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”

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