Apple Gets Sued over Peer-to-Peer Payment Fees

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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

• Apple gets sued over peer-to-peer payment fees.

• The Solana Meme Coin BONK Is Still up 1,700% in the Past Month.

• Crypto Exchange Bittrex Global to Shut Down.

• Binance in talks to pay more than $4B to end U.S. criminal case.

• Japanese exchange plans to start digital securities trading.

• Dictionomics: Stibalization of The virtual assets 

Global Biscuits

Apple gets sued over peer-to-peer payment fees.
Venmo and Cash App users have filed a proposed class-action lawsuit against Apple, alleging that the tech giant abused its market power to stifle competition in mobile peer-to-peer payments. The lawsuit claims that Apple's agreements with PayPal's Venmo and Block's Cash App limit competition within the peer-to-peer payment apps by prohibiting the use of decentralized cryptocurrency technology. The plaintiffs seek an injunction that could potentially force Apple to divest or segregate its Apple Cash business. Apple has faced other recent antitrust challenges, including a ruling allowing payment card issuers to sue over alleged anticompetitive practices involving Apple Pay.

The Solana Meme Coin BONK, Is Still up 1,700% in the Past Month.
The Solana-based meme coin BONK has experienced a significant surge, with a 1,700% increase in its price over the past month. BONK reached a new all-time high of $0.00000539 before undergoing a 29% decline within 11 hours. The rapid price movement and volatility are typical of meme coins, which are often influenced by social media sentiment and speculative trading. BONK's surge comes amid increased attention on the Solana ecosystem, with the native SOL token also experiencing a 90% price increase over the last 30 days.

Crypto Exchange Bittrex Global to Shut Down.
Bittrex Global, a cryptocurrency exchange, is set to shut down its operations on December 4. The decision comes several months after its U.S. arm, Bittrex US, filed for bankruptcy and ceased operations. Bittrex Global is urging its users to complete all necessary transactions before the shutdown date, after which only withdrawals will be possible. The exchange, regulated in Liechtenstein and Bermuda, did not provide a specific reason for the decision to wind down its operations. The move follows legal challenges, including a lawsuit by the Securities and Exchange Commission (SEC) against both Bittrex Global and Bittrex.US for allegedly operating a national securities exchange without proper approvals.

Tastes of the regions

Binance in talks to pay more than $4B to end U.S. criminal case.
Binance is reportedly in negotiations with the U.S. Department of Justice (DOJ) to pay more than $4 billion to settle accusations of multiple criminal violations, including money laundering, bank fraud, and violating U.S. sanctions laws. The talks are also reportedly considering the possibility of criminal charges against Binance founder Changpeng "CZ" Zhao. The resolution of these negotiations could happen by the end of the month. If Binance agrees to the fine, it would represent one of the largest settlements in the history of the crypto industry. The DOJ declined to comment, and Binance had not responded to requests for comment at the time of the report.

Japanese exchange plans to start digital securities trading.
Osaka Digital Exchange (ODX), a proprietary trading system operator, is set to launch the trading of digital securities in Japan starting December 25. Tokyo-based Ichigo plans to sell over $20 million worth of security tokens backed by real estate on the ODX platform, catering to the demand for alternative assets. This move signals a growing acceptance of trading digitally managed securities in Japan, although the initial offering size suggests the market is still testing the waters to gauge demand for such alternative forms of securities.

Dictionomics: Stibalization of The virtual assets 

Stibalization of digital assets is a term that refers to the process of stabilizing the value of digital currencies or tokens by using various mechanisms, such as algorithms, smart contracts, oracles, or collateral. Stibalization aims to reduce the volatility and risk of digital assets, which can fluctuate significantly due to market forces, speculation, or manipulation. Stibalization can also enhance the usability and adoption of digital assets, as they can serve as reliable mediums of exchange, store of value, or units of account.

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