The US Securities and Exchange Commission (SEC) has been actively pursuing various cryptocurrency platforms in an attempt to regulate the industry. However, its efforts have been met with skepticism and criticism from industry players. The latest target on the SEC’s radar is the popular NFT platform OpenSea. Devin Finzer, the chief executive officer of OpenSea,
Crypto
Cardano, the third-generation blockchain platform, is gearing up for a major upgrade in the form of the Chang hard fork. This upgrade signifies a crucial milestone in the network’s transition from being founder-controlled to community-run. Scheduled initially for August 27, the launch has now been rescheduled to September 1, 2024, to allow crypto exchanges like
Maker, a prominent DeFi lending protocol on Ethereum, has recently undergone a significant rebranding, transitioning to a new identity as “Sky.” Along with this rebrand, the decentralized stablecoin DAI has been renamed to USDS, and the MKR governance token has been transformed into SKY. This strategic rebranding aims to mark a new era in decentralized
The former CEO of Heartland Tri-State Bank (HTSB), Shan Hanes, was recently sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme. Hanes executed 11 unauthorized wire transfers between May and July 2023, directing the bank’s funds to a cryptocurrency wallet in a scheme known as “pig butchering.” This
The recent arrest of Pavel Durov in France has garnered significant attention and support from various celebrities and public figures. Well-known names such as Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson have all come forward to show their solidarity with Durov in the wake of his arrest. Following Durov’s arrest, the cryptocurrency
The US Securities and Exchange Commission has adamantly opposed Hex founder Richard Heart’s motion to dismiss the $1 billion securities fraud lawsuit, asserting its jurisdiction over the case. The SEC argued in a New York federal court filing that Heart’s attempt to dismiss the lawsuit does not adequately address the allegations outlined in the complaint
The Federal Reserve has hinted at a move towards lower interest rates as the benchmark rate for massive overnight money market loans is currently in the range of 5.25% to 5.5%. Fed Chairman Powell’s recent statement in Jackson Hole, Wyoming, indicated a shift towards rate cuts in the near future. This move is expected to
Bitcoin ETFs have been dominating the market lately, with impressive inflows and a strong performance over the last trading week. On the other hand, Ethereum ETFs are facing challenges, with low trading volumes and consistent withdrawals. The recent volatility in the crypto market has had a significant impact on both asset classes, but the resilience
Shibarium, a layer-2 blockchain solution designed to support the development of the Shiba Inu ecosystem, has seen significant growth since its inception a year ago. With over 418 million transactions processed and key upgrades such as hard forks to improve network performance, Shibarium has been focused on enhancing transaction costs, speeding up processes, and increasing
German authorities recently conducted a nationwide crackdown on unlicensed crypto ATMs, seizing nearly 250,000 euros in cash and 13 machines. Led by the Federal Financial Supervisory Authority (BaFin), the operation aimed to strengthen regulatory oversight in the rapidly expanding cryptocurrency sector. The sting operation targeted 35 locations across the country where crypto ATMs were allegedly
