Crypto News
Solana Developers Release Software Update to Alleviate Network Congestion
The Solana developers have recommended a new software update, version 1.17.31, for general use by mainnet validators. The release, which aims to address the congestion problem that has plagued the popular blockchain in recent months, contains improvements designed to alleviate the ongoing network congestion. Key points: Read more: Hong Kong Approves Spot Bitcoin And Ethereum …...
Hong Kong Approves Spot Bitcoin and Ethereum ETFs Amidst Market Slump
The Hong Kong Securities and Futures Commission (SFC) granted approval to several spot Bitcoin and Ethereum exchange-traded funds (ETF) applications on Monday. This development comes as Hong Kong continues its efforts to establish itself as a leading destination for crypto firms and investors. Key points: The approval of these spot crypto ETFs marks a significant …...
Coinbase Files Interlocutory Appeal in SEC Case
Coinbase has filed an interlocutory appeal in its ongoing legal battle with the Securities and Exchange Commission (SEC). The appeal, filed on Friday, aims to address a narrow point of legal disagreement and seeks to have it considered independently by the U.S. Court of Appeals for the Second Circuit. Key points: The appeal comes after …...
Security Engineer Gets 3-Year Prison Term for Hacking Decentralized Crypto Exchanges
The court sentenced Shakeeb Ahmed, a former senior security engineer, to three years in prison for hacking two separate decentralized crypto exchanges and stealing over $12 million worth of cryptocurrency. Damian Williams, the United States Attorney for the Southern District of New York, announced the sentence, marking the first-ever conviction for the hack of a …...
FTX Founder Sam Bankman-Fried to Challenge 25-Year Prison Term
Sam Bankman-Fried, the disgraced co-founder of the now-defunct cryptocurrency exchange FTX, has formally initiated the process to appeal his conviction and the 25-year prison sentence. SBF lodged an appeal in the Manhattan federal court on Thursday, following his sentencing to over 25 years in prison by Judge Lewis A. Kaplan. Key points: Read more: Robert …...
Robert Kiyosaki Backs Cathie Wood’s $2.3 Million Bitcoin Price Prediction
In a recent tweet, Robert Kiyosaki, the renowned author of the best-selling book “Rich Dad Poor Dad,” expressed his support for Cathie Wood’s bold prediction that Bitcoin will reach $2.3 million per coin. Kiyosaki praised Wood’s intelligence and her willingness to make mistakes and learn from them. Key points: Read more: Former FTX Executive Ryan …...
Former FTX Executive Ryan Salame’s Sentencing Rescheduled to May 28
Ryan Salame, a former executive of the collapsed cryptocurrency exchange FTX, will face sentencing on May 28 in a New York courtroom. The sentencing, which was originally set for May 1, has been rescheduled for reasons that remain unclear. Salame is scheduled to appear before Judge Lewis Kaplan of the United States District Court for …...
Uniswap Labs Receives Wells Notice from SEC
Hayden Adams, the founder of Uniswap, a leading decentralized exchange, has announced that Uniswap Labs has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). In a recent tweet, Adams expressed his frustration and disappointment with the SEC’s decision to target long-time good actors in the cryptocurrency industry while allowing bad actors …...
Binance is Considering Multiple Jurisdictions for Headquarters: CEO
Binance, the world’s largest cryptocurrency exchange, is currently in discussions with several jurisdictions regarding the selection of its official headquarters, according to CEO Richard Teng. During a fireside discussion at Paris Blockchain Week, Teng emphasized that the decision-making process is complex and involves a multitude of factors that must be carefully considered. Key points: Teng …...
Bitcoin Faces Potential Correction Around BTC Halving: Arthur Hayes
Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, has cautioned that Bitcoin (BTC) may face selling pressure in the days surrounding the mining-reward halving scheduled for April 20. Despite the event being widely considered bullish for the cryptocurrency, Hayes believes that the well-entrenched narrative could lead to a price correction. Key points: Hayes …...
Binance Executive Pleads Not Guilty to Money Laundering Charges
Tigran Gambaryan, a Binance executive who was detained by Nigerian authorities alongside his colleague Nadeem Anjarwalla, pleaded not guilty to money laundering charges at a high court on Monday. Local reports state that Gambaryan, the head of Binance’s financial crime compliance, is on remand until trial, with the option to request bail until April 18. …...
Jury Finds Terraform Labs and Do Kwon Guilty of Crypto Fraud
A jury in the United States District Court for the Southern District of New York has found Terraform Labs and its co-founder, Do Kwon, liable for defrauding investors in crypto asset securities. The verdict, delivered after a nine-day trial, marks a significant victory for the Securities and Exchange Commission (SEC) in its efforts to regulate …...
FTX Bankruptcy Estate Sells Majority of $2.6 Billion Solana Token Hoard
The bankruptcy administrators of the collapsed cryptocurrency exchange FTX have sold approximately two-thirds of a $2.6 billion stash of Solana (SOL) at a heavily discounted price. The deal attracted interest from prominent industry players such as Galaxy Trading and Pantera Capital. According to the details shared by Bloomberg, the deal saw between 25 million and …...
PayPal Introduces Fee-Free Cross-Border Money Transfers Using PYUSD Stablecoin
PayPal has announced a new feature that allows U.S. users to fund cross-border money transfers using USD converted from its native stablecoin, PayPal USD (PYUSD). The service, powered by PayPal’s money transfer platform Xoom, enables users to send money to friends and family in approximately 160 countries without incurring any Xoom transaction fees. Key points: …...
Ethereum May Lessen Chances of ETH Being Classified as a Security: JPMorgan
Analysts at JPMorgan have noticed a continued decrease in staking platform Lido’s share of staked Ethereum (ETH). The analysts believe this should alleviate concerns about concentration in the Ethereum network. In a research report released on Wednesday, the analysts, led by Nikolaos Panigirtzoglou, highlighted that this trend could potentially reduce the likelihood of ETH being …...
Ripple Unveils Plans to Launch USD-Pegged Stablecoin on XRP Ledger
Ripple, the enterprise-focused blockchain service, has announced its intention to introduce a new stablecoin pegged to the U.S. dollar later this year. The stablecoin will initially be deployed on the XRP Ledger and the Ethereum blockchain. Key points: Ripple anticipates a clear demand for stablecoins that offer trust, stability, and utility as the stablecoin market …...
Coinbase Receives Restricted License in Canada Amid U.S. Regulatory Challenges
Coinbase achieved a significant milestone in its global expansion efforts by obtaining a registration license in Canada. Canadian Securities Administrators (CSA) has registered Coinbase as a restricted dealer, as the company recently informed CNBC. This authorization allows Coinbase to operate legally in the country and deepens its international presence as it faces regulatory hurdles in …...
Google Sues Alleged Chinese Scammers for Cryptocurrency Fraud
Alphabet Inc.’s Google has filed a lawsuit against two individuals based in China. The tech giant accused them of using the company’s platforms to distribute and advertise fraudulent cryptocurrency apps, according to Bloomberg. The lawsuit, filed in federal court in New York on Thursday morning, alleges that the defendants engaged in racketeering, violating the Racketeer …...
Coinbase Warns of Hidden Risks to Ethereum Network Stability
The rapidly growing EigenLayer protocol, spearheading the rise of restaking on the Ethereum blockchain, has the potential to become a crucial component of the ecosystem’s infrastructure. However, a recent research report by Coinbase highlights the hidden risks associated with this emerging sector. The report also points out that it could threaten the stability and security …...
U.S. Government Moves $2 Billion in Silk Road Bitcoin
The U.S. government has reportedly transferred 30,175 Silk Road Bitcoin to a wallet associated with Coinbase. The transaction, which took place late Tuesday morning, is valued at approximately $2 billion based on BTC’s current price of around $65,000 per coin. Key points: Also read: Crypto Funds Bounce Back With $862,000,000 Inflows The massive movement of …...
