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Australia's Federal Court has fined Bit Trade, the operator of Kraken Australia, $5.1m for regulatory breaches, including failing to comply with design and distribution obligations and offering unlicensed credit facilities. The fine follows a lawsuit from the Australian Securities and Investments Commission (ASIC), which found that Kraken's margin extension product harmed over 1,100 Australians, with some losing millions of dollars.
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Cryptocurrency fund advertisements have appeared on the homepage of Alipay, China's largest payment platform with over 1bn users. The main investment is in Ark Invest ETF through QDII-FOF-LOF, with indirect investment in Coinbase and the Ark Bitcoin Spot ETF. Every Chinese user can buy up to 1,000 yuan ($137.7) worth per day.
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Circle and Binance have formed a strategic partnership to accelerate the adoption of the USDC stablecoin and support the global digital-asset ecosystem. Binance will integrate USDC across its services, making it accessible to 240m users, while Circle will provide technology and liquidity to enhance user trust and innovation.
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Kaiko's November report shows Coinbase losing market share, dropping to 6.6% from 6.7%, while Binance regained 44.1% from 43.1%. Upbit’s market share almost tripled, surging to 10.8% from 3.7% in July.
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Binance released its 25th proof of reserves, showing mixed movements in user assets as of December 1. ⚫️BTC: 580k (-4.68% from Nov. 1) ⚫️ETH: 4.9m (+5.24%) ⚫️USDT: $25.2bn (+20.93%) ⚫BNB: 37.1m (-2.15%)
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