The recent actions taken by the US Securities and Exchange Commission (SEC) against various cryptocurrency platforms have sent shockwaves through the industry. The latest platform to come under scrutiny is OpenSea, a popular NFT marketplace. Devin Finzer, the CEO of OpenSea, took to social media to express his disappointment at receiving a Wells Notice from
Crypto
The Cardano network is on the brink of a significant upgrade with the upcoming Chang hard fork, set to be deployed in the next few days. This upgrade will introduce new features and mark the blockchain’s transition into a community-run network. Originally scheduled for August 27, the launch has been postponed to September 1, 2024,
In a significant shift in the world of decentralized finance (DeFi), Maker has recently undergone a rebranding, changing its name to “Sky” and introducing key upgrades to its stablecoin system. The once-popular DAI stablecoin has now been rebranded as USDS, with the MKR governance token also transforming into SKY. This rebrand marks a new era
In the wake of Pavel Durov’s controversial arrest in France, a wave of support has emerged from various celebrities and public figures. Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson have all publicly declared their backing for the Telegram founder. This outpouring of support comes after Durov was detained for alleged failure to
The US Securities and Exchange Commission has firmly opposed Hex founder Richard Heart’s motion to dismiss the $1 billion securities fraud lawsuit filed against him. The SEC argued that Heart’s attempt to dismiss the lawsuit does not adequately address the allegations laid out in the complaint and ignores established legal standards. The regulator emphasized its
The recent announcement by the Federal Reserve regarding interest rate cuts has sent shockwaves through the financial markets. Powell’s speech in Jackson Hole, Wyoming, indicated a clear shift towards a regime of interest rate cutting, with an explicit endorsement of rate cuts in the near future. This change in policy direction has the potential to
Bitcoin ETFs have been grabbing headlines recently with a staggering influx of over $500 million in the last trading week alone. This surge comes after a rough start earlier in the month, where losses amounted to more than $550 million in just three days. The steep decline in Bitcoin’s price, plummeting from over $65,000 to
Shan Hanes, the former CEO of Heartland Tri-State Bank, was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme. This scheme, known as “pig butchering,” involved luring unsuspecting investors into fraudulent digital asset investments through unauthorized wire transfers. Hanes executed 11 of these transfers between May and July
Shibarium is a layer-2 blockchain solution that operates on the Ethereum network, specifically catering to the needs of the Shiba Inu ecosystem. The primary objective of Shibarium is to reduce transaction costs, enhance speed, and boost scalability within the network. Launched a year ago, Shibarium has achieved significant milestones, processing over 418 million transactions to
German authorities recently conducted a large-scale operation to seize nearly 250,000 euros and 13 crypto ATMs as part of a crackdown on unlicensed cryptocurrency activities. Led by the Federal Financial Supervisory Authority (BaFin), the operation targeted 35 locations across the country where crypto ATMs were allegedly operating without proper licensing. This initiative, carried out in
