The public will pay

The SEC settled its fraud case against Justin Sun for $10 million with no admission of wrongdoing, after Sun committed $223 million to Trump family crypto ventures. The fine under the Securities Act of 1933 implies the SEC treats Sun's TRX and BTT tokens as securities, which could mean exchanges listing them are operating as unregistered securities exchanges. Kraken has become the first crypto firm to gain a Federal Reserve master account, and Binance called Wall Street Journal, New York Times and Fortune reporting on Iran-linked transfers "demonstrably false."