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Binance Lawsuit Paused by SEC
France Joins Global AI Race and Goldman Drops IPO Diversity Rule

CRYPTO
Binance Lawsuit Paused by SEC
The U.S. crypto industry just received another sign that regulatory pressure is easing. The SEC has agreed to pause its lawsuit against Binance for 60 days, citing a new crypto task force formed by acting SEC Chairman Mark Uyeda. This shift signals a more favorable stance under Trump compared to Biden.
Under former SEC Chair Gary Gensler, the agency aggressively pursued lawsuits against major crypto firms, including Binance and Coinbase. In November 2023, Binance settled with the DOJ for $4.3 billion, but the SEC continued its case. The agency has long argued that most cryptocurrencies, aside from Bitcoin, should be treated as securities, a stance the crypto industry rejects.
Ahead of the 2024 election, crypto firms spent $133 million lobbying for pro-crypto candidates. Trump embraced the industry, calling himself a “pro-Bitcoin president” and taking steps like pardoning Silk Road founder Ross Ulbricht and nominating a crypto-friendly SEC chair.
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TECH
France Joins Global AI Race
Europe is pushing to become a key player in artificial intelligence, a space long dominated by the U.S. and China. Historically criticized for overregulating tech to the detriment of innovation, Europe—led by France—is shifting its approach. At the AI Action Summit in Paris, French President Emmanuel Macron declared that France is “back in the AI race,” following a €109 billion investment in the sector.
While Europe’s regulatory stance remains strict, key players like OpenAI and Synthesia see a shift. Some nations, including France and Germany, are leaning toward fostering innovation, diverging from the EU’s heavy-handed approach.
The EU’s AI Act, the first global AI law, has sparked debate, with critics arguing it could stifle progress. Despite concerns, Europe aims to compete rather than simply regulate. As AI reshapes industries, European leaders are at a crossroads: embrace innovation or risk falling behind U.S. and Chinese dominance.
FINANCE
Goldman Drops IPO Diversity Rule
Goldman Sachs is reversing its IPO diversity pledge, which required companies going public in the U.S. or Western Europe to have at least two diverse board members, including one woman. The policy, introduced in 2020, was scrapped due to legal challenges against corporate diversity mandates.
Goldman had used its influence to push diversity in corporate leadership, even facing resistance from some clients. However, the reversal follows a broader trend, as companies like Amazon and Walmart scale back DEI efforts under increased scrutiny from the Trump administration.
The change comes after a federal court struck down Nasdaq’s diversity rule, citing concerns over discrimination. Despite dropping the mandate, Goldman says it will continue helping firms diversify their boards.
CEO David Solomon had championed the initiative at Davos, but recent leadership promotions at Goldman, with only one woman among top investment banking roles, suggest a shift in priorities.
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