OBT

The U.S. government urges the Supreme Court to dismiss Coinbase users' challenge against the IRS for obtaining crypto records

ChainCatcher news, according to Cointelegraph, on May 30, the U.S. government submitted documents to the Supreme Court requesting to dismiss Coinbase user James Harper's appeal against the IRS's acquisition of his cryptocurrency transaction records. Attorney General D. John Sauer stated that under the Fourth Amendment, Harper does not have a right to privacy regarding the financial records stored on Coinbase, as this data was "voluntarily" shared with the exchange, and the IRS obtained it through lawful judicial procedures.The case stems from the IRS's cryptocurrency tax investigation in 2016, when the agency discovered that a large number of Coinbase users had not reported their crypto gains, subsequently obtaining a "John Doe" subpoena requiring the exchange to submit records of high-volume users. Harper filed a lawsuit claiming this constituted an unconstitutional search, but lower courts ruled that Coinbase records are commercial documents rather than personal private documents, and the IRS's actions were lawful.The government cited precedents such as United States v. Miller to emphasize that users have no reasonable expectation of privacy regarding financial records held by third parties, and Coinbase's privacy policy clearly warns that information may be shared with law enforcement agencies.The Supreme Court has yet to decide whether to hear the case. If it declines, it will uphold the First Circuit Court of Appeals' ruling in support of the IRS.

Binance will airdrop 8,000 OBT to users who hold at least 200 Alpha points

ChainCatcher news, Binance announced on social media that qualified users with at least 200 Binance Alpha points can claim an airdrop of 8,000 OBT tokens on the Alpha event page starting from May 24, 2025, at 8:00 UTC.Please note that claiming the OBT airdrop will consume 15 Binance Alpha points. Users must confirm their claim on the Alpha event page within 24 hours (by 8:00 UTC on May 25, 2025), otherwise, it will be considered a forfeiture of the claim.In addition, Binance Wallet has officially launched the Orbiter Finance trading competition. During the event period (from May 24, 2025, 08:00 to June 7, 2025, 08:00 UTC), users can participate in the competition by trading OBT tokens through Binance Wallet (non-custodial) or Binance Alpha.According to the announcement, participants will be ranked based on the total purchase volume of OBT during the event period, with the top 6,000 users sharing a reward of 50 million OBT tokens (approximately 8,333 OBT per person). Only trades executed through Binance Wallet (non-custodial) or Binance Alpha are eligible to participate, and trades through third-party dApps will be excluded. This event only counts cumulative purchase volume and does not include sell trades, with no upper limit on trading volume.Rewards will be distributed to the winning users' Binance Alpha accounts by June 21, 2025, at 16:00 (UTC). Users must complete account verification (KYC) and hold an active Binance Wallet to be eligible to participate.
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