SEC's Move Against Paxos Divides Cryptocurrency Experts

 The US Securities and Exchange Commission's (SEC) direction to Paxos to cease issuing new units of Binance's dollar-pegged cryptocurrency Binance USD, has triggered reactions from industry experts, who believe that staking yield should not be considered a security.

> Slava Demchuck, CEO of AMLBot stated that stablecoin issuer Circle currently has the most advanced compliance framework built into the USDC token, which he believes will lead to fewer regulatory hurdles in the future.

Republicans Want To Reintroduce Legislation Restricting Use Of Cryptocurrencies In 401(k)

Senator Tommy Tuberville will submit legislation later today to prevent the Labor Department (DOL) from limiting businesses and financial firms from selling cryptocurrencies as part of 401(k) retirement plans.

Jordan Peterson Seeks Assistance In Joining The Bitcoin Lightning Network

> Jordan Peterson, a well-known Canadian psychologist and cultural critic, has indicated an interest in joining the Bitcoin (BTC) Lightning Network.

> On February 14, a Twitter user called as Joe Nakamoto challenged Peterson to disclose a Bitcoin lightning address instead of utilizing the fundraiser portal GoFundMe.

> This comes after Peterson tweeted a GoFundMe page seeking funds to assist a fire victim who had sustained losses. In this example, Nakamoto instructed Peterson to create a lightning address since it would allow donations from people all over the world as well as those without debit or credit cards. Continue here.

South Korean authorities Widen Investigation Into Terra (LUNA) Collapse 

South Korean prosecutors have recently requested an arrest warrant for a former CEO of Tmon, a popular e-commerce platform, as well as a broker, in connection to bribery charges involving Terra (previously known as LUNA, and now Terra Classic, or LUNC).

> The prosecutor's office for the Seoul Southern District, specifically the head of the financial and securities joint investigation team, called for the arrest of former CEO, "Mr. A," and "broker B," who lobbied the financial sector in favor of Terra.

> According to reports by Dong-A Ilbo, Terra co-founder Daniel Shin, also known as Shin Hyun-Seong, gave LUNC tokens to Mr. A, who then allegedly promoted Terra as a simple payment gateway. Details here. 

FTX Bankruptcy Case: Judge Denies Motion for Independent Examiner

Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware denied a request for an independent examiner for FTX on February 15, citing the additional expenses and unnecessary burden on the creditors and debtors.

> According to the judge, if an examiner were appointed, the cost of the examination would be in the tens of millions of dollars and could potentially exceed $100 million.

> Judge Dorsey concluded that such a cost would not be in the best interest of the creditors.

> “Every dollar spent in these cases on administrative expenses is a dollar less to the creditors,” said Judge Dorsey. Full report here.

FTX Founder's Bond Cosigned by Stanford Law School Dean and Research Scientist

Larry Kramer, the former dean of Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford University, have been identified as the cosigners for Sam Bankman-Fried's $250 million bond, according to court filings.

> Bankman-Fried, the founder of FTX, is currently facing eight charges related to the collapse of FTX.

> In response to petitions from media organizations, Judge Lewis Kaplan ordered the names of the sureties to be unsealed, despite Bankman-Fried's lawyers seeking to redact them citing privacy concerns and threats faced by Bankman-Fried's family.

> Kramer, who signed the larger bond of $500,000, has been a long-time friend of Bankman-Fried's parents. Continue reading.

Elon Musk's Dog Tweets Boosts Prices of Dog-Themed Cryptocurrencies 

Elon Musk, the billionaire CEO of Tesla and SpaceX, has a habit of moving markets with his tweets, and he did it again on Tuesday night with just a photo of his dog.

> The dog-themed cryptocurrencies, Dogecoin, Floki, and Shiba Inu, all saw significant gains shortly after Musk tweeted the photo of his dog in a Silicon Valley-style black turtleneck sitting behind a desk, stating, “The new CEO of Twitter is amazing.”

> Dogecoin, created as a joke, jumped more than 5% in approximately 15 minutes, and its market cap increased by almost $500 million, reaching more than $11.5 billion.

> Floki, a memecoin initially named after Elon Musk's dog, also rose precipitously, with its total market cap soaring by half, and an individual token increasing by almost 50% in about an hour. More here. 

U.S. Prosecutors Urge Judge To Ban Bankman-Fried From Using Internet Completely

US prosecutors have requested the imposition of severe restrictions on the internet use of Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, who is currently under indictment.

> The prosecutors argued that the current conditions set for Bankman-Fried "leave too much room for inappropriate conduct."

> US District Judge Lewis Kaplan had already prohibited the 30-year-old former billionaire, who is out on $250 million bail, from communicating with his exchange's current or former employees and from using encrypted messaging apps such as Signal, which allows users to delete messages automatically.

> This was in response to concerns raised by federal prosecutors in Manhattan who believed Bankman-Fried was attempting to influence potential witnesses before his October trial. Continue here. 

Bitcoin Surges to Highest Level Since August 2022 Amidst Soaring Crypto-Related Stocks 

Bitcoin has recently surged to its highest level since August 17, 2022, and some market analysts believe that its previous decline earlier this year could have contributed to this boost.

> According to TradingView data, the top cryptocurrency by market capitalization was trading at $24,260, showing a remarkable 9% increase.

> Similarly, Ethereum (ETH) has also witnessed an upswing, with its trading value currently at $1,645, representing a 5.5% gain.

> Yesterday, several crypto-related stocks saw significant increases in value on Wall Street.

> Some of the major gainers include Silvergate, Coinbase, and MicroStrategy, with all three companies recording double-digit growth.

> Coinbase experienced a massive surge of 17.5%, closing just below $70, while MicroStrategy's shares jumped by 10% and traded above $298 by the close of the market.