SafeAuth: A Big Step Forward with Web3Auth and Safe
The world of cryptocurrency just got a major upgrade with the introduction of SafeAuth, a collaboration between Web3Auth and Safe. This new development is shaking things up in the crypto community, making it easier and safer for everyone to use digital currencies.
Web3Auth, known for its top-notch Wallet-as-a-Service, and Safe, a leader in making crypto accounts easy to use, have come together to create SafeAuth. This partnership is a big deal – it’s about making the crypto world simpler and more secure for everyone.
Making Crypto Easy
SafeAuth is all about making it easy to get started with crypto. It takes the best parts of Web3Auth’s easy social logins and Safe’s smart way of handling accounts, and puts them together. This means you can now set up a crypto wallet quickly, without the headache of remembering complicated seed phrases. It’s all about making things easier and safer.
A Powerful Team-Up for a Better Crypto Experience
Tobias Schubotz from Safe puts it perfectly: by bringing together Web3Auth’s cool social login tech and Safe’s smart account ideas, they’re making using crypto a breeze. This partnership is a big step towards making crypto something everyone can use and enjoy, no matter where they are in the world.
SafeAuth: Making Connections Simple
At its core, SafeAuth is all about connecting easily. It lets you use one account to access loads of different crypto apps. Think of it like using one email to sign into lots of websites. SafeAuth links Safe{Wallet} with tons of apps on Safe{Core}, so you have one simple, unified way to use your crypto. It means you can use over 190 apps, like Aave and CowSwap, easily with just one account.
A Big Leap for Crypto Apps: Easy and Connected
Zhen Yu Yong from Web3Auth is really excited about working with Safe. He says that SafeAuth is a game-changer because it lets all kinds of crypto apps work together better than ever. This partnership is all about making the crypto world more connected and easy to use.
Conclusion
SafeAuth is starting a new chapter in the world of cryptocurrency. By combining the strengths of Web3Auth and Safe, this partnership is making crypto more user-friendly and secure. It’s a big step towards a world where using digital currencies is easy and fun for everyone.
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SEC’s Absence at Binance Settlement Announcement Raises Questions
The recent $4.3 billion settlement between Binance and various US government agencies, announced by top Biden administration officials, has stirred controversy due to the absence of Securities and Exchange Commission (SEC) Chair Gary Gensler at the announcement.
While Attorney General Merrick Garland and Treasury Secretary Janet Yellen were present, Gensler’s absence raised eyebrows, especially considering the SEC’s ongoing legal dispute with Binance, the influential business news outlet Wall Street Journal reported on Monday.
Citing insiders “familiar with the matter,” the report revealed that the SEC was not part of the extensive settlement talks that led to Binance and its founder, Changpeng Zhao (CZ), pleading guilty and resolving civil charges with the US Treasury Department.
The absence of the SEC indicates the challenges and high stakes involved in settling with a regulatory body that, although lacking the authority to imprison individuals, holds significant power to disrupt and potentially shut down US companies that operates in the crypto space.
Futile attempts at reaching settlement with SEC
Before the SEC filed its lawsuit against Binance in June, attempts to reach a settlement were reportedly futile, as the parties couldn’t agree on terms.
According to the Wall Street Journal’s sources, a settlement on the SEC’s terms could have compelled Binance to shutter much of its US crypto trading operations and accept claims that its “affiliates engaged in manipulative trading.”
The report also said that various government agencies before filing the lawsuit against Binance tried to get the company to accept an injunction, a deal that would reportedly prevent Binance’s US arm from offering trading in many of the tokens it had listed at the time.
“That would sort of be the end of Binance.US,” Lee Reiners, an economics lecturer at Duke University, told the Wall Street Journal.
Now, however, Binance appears to remain steadfast in defending its case against the SEC, saying in a comment “We remain confident in our case against the SEC and will continue to defend our platform vigorously.”
The post SEC’s Absence at Binance Settlement Announcement Raises Questions appeared first on Cryptonews.
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