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In the lawsuit pitched by the U.S. Securities and Exchange Commission (SEC) against Tron’s brainchild, Justin Sun, and his enterprise Rainberry, a judicial nod has been granted for an extended timeline for the defense. Sun now has until December 8, 2023, giving his attorneys a broader window to “explore possible resolution of the SEC’s claims against defendants before motion practice.”
Sun’s Legal Horizon Extended: Judge Gives Breathing Room in SEC’s Tron-Related Suit
In March 2023, a legal storm brewed for Justin Sun, the Tron Foundation, the Bittorrent Foundation, and the entity known as Rainberry. They found themselves on the receiving end of a lawsuit from the U.S. securities watchdog. The core allegation? The quartet of entities allegedly dangled TRX and BTT before investors as unregistered securities, crossing the line of U.S. securities regulations.
Further, the SEC cast Sun in a shadowy light, accusing him of masterminding a vast plot to manipulate TRX’s market value. As of a court order stamped September 14, 2023, both Sun and Rainberry’s legal representation sought some breathing room from the court, a plea to which the judge granted. Addressed to judge Edgardo Ramos, the letter proposes pushing the deadline to December 8, 2023, precisely 76 days away. Advocating for the change, Sun’s legal counsel contends “there is good cause for the extension.”

The two reasons for the rescheduling? Firstly, the Tron Foundation unraveled in April 2023 and is now in the midst of seeking a revival in Singapore. Another catalyst is the recent turn of events in the SEC vs. Ripple Labs, Inc. courtroom battle. Sun’s legal brigade finds it imperative to delve into the “proceedings related to judge Torres’ decision,” as outlined in the correspondence. The note, however, doesn’t shy away from mentioning that the SEC has lodged an interlocutory appeal against Torres’ judgment, with the final verdict still in the balance.
What do you think about the SEC lawsuit against Justin Sun, Tron, and the Bittorrent Foundation? What do you think about the latest delay in the case? Share your thoughts and opinions about this subject in the comments section below.



In the lawsuit pitched by the U.S. Securities and Exchange Commission (SEC) against Tron&#x2019;s brainchild, Justin Sun, and his enterprise Rainberry, a judicial nod has been granted for an extended timeline for the defense. Sun now has until December 8, 2023, giving his attorneys a broader wind...

news.bitcoin.com

Clock Ticks Slower for Justin Sun and Rainberry: Court Grants Extension Amid SEC Allegations 


In an industry where a decade is a significant milestone, the crypto exchange Huobi, now rebranded as HTX, is marking its tenth anniversary. This occasion represents the successful culmination of a journey filled with remarkable highs and challenging lows. 



The exchange opened for business in 2013 and grew to become the largest in the Chinese market by 2017. Despite exiting Mainland China in 2021, Huobi achieved significant milestones elsewhere. 



Huobi Undergoes Rebrand to HTX



The rebranding to HTX, under the new ownership of controversial figure Justin Sun, founder of TRON, signals the start of a new global chapter.



 According to an HTX spokesperson, 




“’H’ stands for Huobi, continuing the heritage of Huobi. ‘T’ represents TRON, showing a commitment to continue building in the TRON ecosystem, and ‘X’ stands for the exchange.” 




From another perspective, ‘HT’ also represents the native platform token on the exchange (HTX Token), so the name ‘HTX’ can also be understood as the exchange for trading HT.



However, HTX’s transition hasn’t been without its challenges. The exchange’s crypto reserves have changed due to stUSDT, impairing its ability to handle sudden fund outflows. This change has caused concern among institutional traders.



Huobi Reserves Before and After stUSDT. Source: Bloomberg / DeFiLlama



 The exchange also has had trouble navigating stifling crypto regulations, especially with its links to China.



Read more: TRON (TRX) Price Prediction 2023/2025/2030



Global Reach and Product Diversity



As the crypto industry evolves, HTX is hoping to adapt to new changes. The rise of DeFi, layer 2 networks, and other exchanges have created greater competition, pushing HTX towards transformation and upgrade. 



HTX’s strategic plan covers two main areas: expanding its global reach and diversifying its product offerings. The goal is to achieve global expansion coordinatedly, reducing dependence on a single country or region. 



HTX is also advancing compliance efforts in other countries and regions. These include including Gibraltar, Lithuania, Dubai, Australia, and more, applying for licenses and building compliance. 



Moreover, HTX is reshaping its product portfolio, diversifying its products and services beyond geographical expansion Its plans to consistently refine its flagship product lineup, featuring PrimeVote and Flexi Max, and unveil more new offerings. 



In doing so, HTX aims to furnish users with secured and diverse options for safeguarding and maximizing the value of its crypto assets.

      Disclaimer
        
      In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

    
  
The post Huobi Crypto Exchange Details Transition to HTX and Its ‘New Global Journey’ appeared first on BeInCrypto.


Crypto exchange Huobi, now rebranded as HTX, is marking its tenth anniversary. Under new ownership of Justin Sun, founder of TRON, HTX plans to expand globally and diversify its product offerings.
The post Huobi Crypto Exchange Details Transition to HTX and Its &#8216;New Global Journey&#8217; ap...

beincrypto.com

Huobi Crypto Exchange Details Transition to HTX and Its ‘New Global Journey’

Tron was a big mover on Thursday, as recent reports suggest that the blockchain platform has been processing an average of 4.8 million daily transactions. The token has now surged higher for three consecutive sessions, and looks set to collide with a key resistance level. Solana was also in the green today.
Tron (TRX)
Tron (TRX) rose to a multi-week high on Thursday, on the back of reports claiming that the blockchain sees nearly 5 million daily transactions.
TRX/USD peaked at $0.08322 earlier in the day, which comes following a low of $0.08043 the day before.
As a result of today’s gains, tron has now risen to its highest point since July 30, when price traded at a high of $0.08395.

From the chart, it appears that bulls are attempting to reach a ceiling at $0.08600, however a hurdle on the relative strength index (RSI) seems to be preventing this.
Price strength is currently tracking at 67.89, which is marginally below a ceiling at the 68.00 level.
In order for bulls to capture their price target, this aforementioned resistance point will need to be broken.

Solana (SOL)
Solana (SOL) rose for a third consecutive day on Thursday, as price moved closer to the coveted $20.00 mark.
SOL/USD surged by as much as 5% in today’s session, hitting an intraday peak of $19.27 in the process.
This move comes a day after the world’s ninth largest cryptocurrency traded at a bottom of $17.96.

Earlier gains in price have started to ease in the last few hours, after the RSI closed in on a ceiling of 43.00.
At the time of writing, it is at a reading of 41.05, with the token marginally below today’s high, sitting at $18.84.
Although $20.00 is still clearly the short-term target, it will likely take a significant amount of bullish momentum to get there.
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Do you expect solana to hit $20.00 in the coming days? Let us know your thoughts in the comments.



Tron was a big mover on Thursday, as recent reports suggest that the blockchain platform has been processing an average of 4.8 million daily transactions. The token has now surged higher for three consecutive sessions, and looks set to collide with a key resistance level. Solana was also in the g...

Biggest Movers: TRX Rises to Strongest Point Since July, SOL Extends Gains

Three altcoins could suffer price dips due to upcoming FTX liquidations, according to the crypto analytics firm Messari.
Messari notes that FTX and Alameda hold $37 million worth of top meme asset Dogecoin (DOGE), $33 million worth of blockchain-based operating system Tron (TRX) and $22 million worth of the scaling solution Polygon (MATIC).

“The relevant figure isn’t the absolute value of the tokens held, but rather their amount relative to each asset’s actively traded volume. For example, FTX/Alameda’s BTC holdings ($353 million) are roughly 1% of BTC’s weekly traded volume, meaning the market can absorb much of the selling, and the same goes for ETH.”
However, for DOGE, TRX, and MATIC, which are far less liquid, the $20~$30 million FTX holds represents 6-12% of weekly volumes and can have a much higher impact on the market.”
Source: Messari/X
DOGE is trading at $0.0613 at time of writing. The 9th-ranked crypto asset by market cap is up more than 1.5% in the past 24 hours.
TRX is trading at around $0.0815 at time of writing. The 11th-ranked crypto asset by market cap is up more than 5% in the past day.
MATIC is trading at $0.511 at time of writing. The 14th-ranked crypto asset by market cap is up 1.75% in the past 24 hours.
Messari also says that Alameda holds $720 million worth of layer-1 blockchain Solana (SOL) and $66 million worth of the layer-1 blockchain Aptos (APT), but the firm notes that those holdings are made up mostly of vesting tokens and will be liquidated gradually, which will likely lessen their price impacts.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Dogecoin (DOGE), Tron (TRX) and Polygon (MATIC) Could Get Rocked if FTX Liquidates Holdings: Analytics Firm appeared first on The Daily Hodl.


Three altcoins could suffer price dips due to upcoming FTX liquidations, according to the crypto analytics firm Messari. Messari notes that FTX and Alameda hold $37 million worth of top meme asset Dogecoin (DOGE), $33 million worth of blockchain-based operating system Tron (TRX) and $22 million w...

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