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Binance joins Neo Council, 2.1 million NEO used to secure two Top 21 positions

Binance Staking has secured two positions on the Neo Council. At the time of press, Binance has voted with approximately 2.1 million NEO to secure its places in the Top 21. Binance is the world's largest custodial exchange with nearly US $9.07 billion in 24-hour volume, according to CoinCap.io. Binance Staking is a service that allows users to earn distributions offered on proof-of-stake or other networks that distribute rewards to participants. The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively. In the announcement post, Neo Global Development said "Binance Staking's new membership in the ...
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GAW Miners SEC Case Set for 2018 Court Date



A February 2018 trial date has been set for a civil trial pitting the SEC against infamous cryptocurrency entrepreneur Homero "Josh" Garza, founder of controversial companies including GAW Miners and ZenMiner.
The update is the latest in a case that stems back to 2015, when the SEC alleges that Garza and GAW operated a Ponzi scheme in which investors were sold fraudulent "cloud mining contracts" with the promise of receiving profit distributions.

Thus far, Garza has refused to answer questions regarding the allegations, preferring to exercise his Fifth Amendment right to non-incrimination. The court has given Garza and his counsel Marjorie Peerce until 7th May to file any motions regarding the direction of the case.

Likewise, the SEC has until 7th August to gather evidence supporting the claims filed against Garza and his companies.
The SEC is now seeking a cease to all cryptocurrency related activities by Garza and his companies, as well as to disgorge profits from the scheme. Both the SEC and Garza will each provide up to 10 depositions for the case, including expert witness testimony regarding the actions of GAW Miners and ZenMiner.

At this point, there is still the possibility that Garza and his attorneys could decide to settle with the SEC outside of US District Court.

Notably, Garza is also a defendant in a separate civil lawsuit brought upon by disgruntled investors but he was recently dismissed, according to documents filed in District Court.
That suit claims Garza and co-defendant, Cantor Fitzgerald investment banker Stuart Fraser bilked investors out of nearly $10m through the cloud mining contract scheme.

A judge has denied a motion by Fraser to dismiss the suit.

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