Binance launches special UK domain designed to align with new FCA regulations

Happy Sunday!

Binance has created a special domain for its UK users that complies with new crypto regulations from the FCA that just took effect. A crypto advocate blasted supporters of Sam Bankman-Fried, Yuga Labs has restructured and cut workers, and London’s Saatchi Gallery is featuring an NFT exhibition. Read on!

Binance adheres to UK regulations

Binance, the world’s biggest crypto exchange, announced the launch of a dedicated domain for UK users in response to regulatory changes by the Financial Conduct Authority, CryptoSlate reported.

UK users will be able to access only services that comply with the new regulations, which took effect on October 8. Binance CEO Changpeng Zhao is currently being sued by regulators in the US, where DL News has reported that criminal charges may also be under consideration.

Deaton castigates Bankman-Fried supporters

Crypto advocate and lawyer John Deaton railed against supporters of FTX founder Sam Bankman-Fried, who is on trial for fraud and conspiracy, Cointelegraph reported.

In a post on the X social media platform, Deaton wrote: “People who believe SBFraud is a ‘good guy’ who made ‘mistakes,’ and FTX grew too fast and it all got away from him, should NEVER be in charge of other people’s money.”

FloorDAO splits into two entities

FloorDAO has split into two separate entities, with the project parting from FLOOR token investors who have disagreed with its direction, CoinDesk reported.

FloorDAO, which works in NFT finance, handed over $2.5 million of its treasury in NFTs and tokens to a disaffected splinter group called FloorkDAO, comprised of activist investors and others who opted to leave.

Yuga Labs restructures, cuts workforce

Yuga Labs, the company behind Bored Ape Yacht Club and other NFT projects, said it has restructured the company and reduced its workforce, Decrypt reported.

Yuga Labs CEO Daniel Alegre reportedly wrote in a team email: “It’s a challenging time, not only for our industry but also for the global economy. … We must stay focused on our core strengths as we continue to create unique, engaging experiences for the broader Yuga audience.”

London’s Saatchi Gallery shows NFTs

London’s Saatchi Gallery is showing a collection of NFT art titled “Long Live London” at a time when the digital art market has crashed, Decrypt reported.

Still, artist Leo Crane said it was “amazing to be under the Saatchi name” and participate in the exhibition.

What we’re reading around the web

The NFT market may be nearly worthless — but Starbucks is hoping there’s appetite for digital pumpkin spice lattes — Business Insider

Bankman-Fried trial’s first week sees clash of legal theories: TRM Labs’ Ari Redbord — DL News

Vitalik Buterin proposes two-tier model to address ‘centralization challenges’ in Ethereum staking — CryptoSlate