Robinhood Fined $45 Million by the SEC for Multiple Securities Violations

According to an announcement from the U.S. Securities and Exchange Commission (SEC), Robinhood Securities LLC and Robinhood Financial LLC have agreed to pay a total of $45 million in civil penalties for violating over 10 securities laws.

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Robinhood fined $45 million by the SEC for multiple securities violations

According to an announcement from the U.S. Securities and Exchange Commission (SEC), Robinhood Securities LLC and Robinhood Financial LLC have agreed to pay a total of $45 million in civil penalties for violating over 10 securities laws.

The violations include failing to timely submit suspicious activity reports, not implementing adequate identity theft protection measures, failing to address known cybersecurity vulnerabilities, and not properly maintaining customer communication records.

Additionally, Robinhood Securities was separately charged for failing to provide complete securities trading data and not complying with Reg SHO rules. These issues occurred between 2019 and 2023. The SEC stated that both companies have acknowledged some of the investigation's findings and agreed to accept penalties.

Trump may issue an executive order to repeal controversial cryptocurrency accounting policies on his first day in office

According to The Washington Post, Trump is expected to issue an executive order on his first day in office that addresses de-banking and repeals controversial cryptocurrency accounting policies that require banks holding digital assets to treat them as liabilities.

Insiders say, "The Trump team has made it clear that this is a priority." These upcoming executive measures target cryptocurrency regulation, aiming to protect cryptocurrency investors from what Trump calls the "Washington bureaucratic swamp."

Binance to support the migration of Prosper (PROS) token contracts

Binance announced that it will support the migration of the Prosper (PROS) token contracts. Starting from January 20, 2025, at 03:00 (UTC), Binance will suspend deposits and withdrawals of the old PROS tokens. The migration ratio is 1:1, and spot and leveraged trading will not be affected. The new PROS tokens will support both ERC20 and BEP20 chains.

Binance announces the introduction of a maximum negative balance management mechanism for unified accounts, triggering repayment processes automatically when limits are exceeded

Binance announced that starting January 22, 2025, a maximum negative balance management mechanism will be introduced for unified accounts. The system will check for negative balances every 10 minutes, and if the limit is exceeded, it will automatically trigger a three-step repayment process: first, cancel relevant asset orders to reduce the negative balance to 80% of the limit; if still over the limit, prioritize converting high-staking assets for repayment. Users can check relevant transaction records through the App under "Unified Account Orders - Others" or via API.

Insiders: China considers selling TikTok US to Musk to address the ban

According to Bloomberg citing insiders, Chinese officials are evaluating a potential plan to sell TikTok's U.S. operations to Elon Musk if the platform fails to overturn the U.S. ban. While TikTok's parent company ByteDance prefers to appeal the ban, indications from the U.S. Supreme Court suggest that the ban may be upheld.

The plan envisions Musk's X platform taking over TikTok's U.S. operations and integrating it with its existing platform. This move could not only leverage TikTok's 170 million U.S. users to increase advertising revenue but also provide rich data support for Musk's AI company, xAI. However, the deal would require approval from the Chinese government, especially concerning the transfer of TikTok's core algorithms.

Currently, TikTok's U.S. business is valued between $40 billion and $50 billion, but it is unclear whether Musk has sufficient resources to complete the deal. ByteDance has stated that its primary goal remains to retain TikTok's business in the U.S. through legal means.

Japanese listed company Remixpoint increases its Bitcoin holdings by 33.34 BTC, total holdings rise to 333.189 BTC

According to CoinPost, Japanese listed company Remixpoint has increased its Bitcoin holdings by 33.34 BTC, bringing its total holdings to 333.189 BTC.

Additionally, on January 9, the company decided to purchase a total of 3 billion yen in crypto assets. This procurement is part of that initiative. The company plans to gradually implement the remaining additional investment space while monitoring market trends.

CoinShares lowers Bitcoin ETP management fees to 0.25%

European investment firm CoinShares announced that it has lowered the management fee for its flagship product CoinShares Physical Bitcoin ETP (code: BITC; ISIN: GB00BLD4ZL17) from 0.35% to 0.25%, effective immediately.

Cross-chain infrastructure project SYNTHR announces completion of $10 million financing, with participation from NGC Ventures and others

According to official news, cross-chain infrastructure project SYNTHR has announced the completion of $10 million in financing, with